1.12 Provisions / Contingencies
(a) Provision involving substantial degree of estimation in measurements is recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources.
(b) Contingent Liabilities are shown by way of notes to the Accounts in respect of obligations where, based on the
evidence available, their existence at the Balance Sheet date is considered not probable.
(c) A Contingent Asset is not recognized in the Accounts.
1.13 Segment Reporting
A. Business Segments :
Based on the guiding principles given in Accounting Standard 17 (AS - 17) on Segment Reporting issued by ICAI,
the Company has only one reportable Business Segment which is engaged in business of manufacturing of
Manganese Oxide (MNO), manufacturing of MC Manganese and manufacturing of Wood Charcoal as well as
processing of Minerals such as Quartz's and Manganese ore and other Metals and Minerals in India. Accordingly,
the figures appearing in these financial statements relate to the Company's single Business Segment
B. Geographical Segments
The Company activities / operations are confined to India and as such there is only one geographical segment.
Accordingly, the figures appearing in these financial statements relate to the Company's single geographical
1.14 Foreign Currency Transactions
Foreign exchange transactions are recorded at the rate prevailing on the date of respective transaction. Monetary
assets and liabilities denominated in foreign currencies as at the balance sheet date are translated at the closing
exchange rates on that date. Non monetary items which are carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of transaction. Exchange differences arising on
foreign exchange transactions settled during the year and on restatement as at the balance sheet date are recognized
in the statement of profit and loss for the year.The relevant details have been disclosed in Annexure 1.14.
1.15 Balance Confirmations
Balance of Debtors & Creditors & Loans & advances Taken & giving are subject to confirmation and subject to
consequential adjustments, if any. Debtors & creditors balance has been shown separately and the advances
received and paid from/to the parties is shown as advance from customer and advance to suppliers.
1.16 Regrouping
Previous years figures have been regrouped and reclassified wherever necessary to match with current year
grouping and classification.
1.17 Corporate Social Responsibility (CSR)
As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at
least 2% of its average net profit for the immediately preceding three financial years on corporate social
responsibility (CSR) activities. The areas for CSR activities are promoting education, promoting gender equality by
empowering women, healthcare, environment sustainability, art and culture, destitute care and rehabilitation,
disaster relief, COVID-19 relief and rural development projects. The company is required to expense on CSR
activities during F.Y. 2024-25. The relevant details have been disclosed in Annexure 1.17.
Notes:
a. The company was incorporated on 16th December, 2022 with a paid up capital of 10,000 Shares of Rs.100 each amounting to Rs.10,00,000.
b. The share capital of the Company was increased from 10,000 equity shares of Rs.100 each to 13,000 Equity Shares of Rs.100 each by issuing 2,325 fresh
Equity Shares at an issue price of Rs.2,000 each vide resolution dated 21-03-2023 & 675 fresh Equity Shares at an issue price of Rs.2,000 Each vide
resolution dated 31-03-2023 for cash.
c. The shares of the Company was sub divided from Face Value of Rs.100 each to Rs.10 each vide EGM dated 03rd April, 2023. The share capital
consisting of 13,000 equity shares of Rs.100/- each were converted into 1,30,000 equity shares of Rs.10/- each post sub-division.
d. The share capital of the company was increased from 1,30,000 equity shares of Rs.10/- each to 7,80,894 equity shares of Rs.10/- each pursuant to
Business Transfer Agreement dated 15th June, 2023 with effect from 01st April, 2023.
e. The share capital of the company was increased from 7,80,894 equity shares of Rs.10/- each to 1,32,75,198 equity shares of Rs.10/- each pursuant to
Bonus Allotment to the existing Shareholders in the ratio 1:16 vide boards resolution dated Sep. 26, 2023.
f. The authorized share capital of the company was increased from 1,50,00,000 equity shares of Rs.10/- each, to 2,30,00,000 equity shares of Rs.10/- each
vide board resolution dated 24th July, 2023 and EGM resolution dated 17th August, 2023.
g. The company has issued 4907200 fully paid equity shares of Rs. 10/- each at a premium of Rs. 77/- each through IPO on 29th Febuary, 2024 on emerge
platform on NSE.
2B: Term/rights attached to equity shares:
The Company has only one class of equity shares having a par value of Rs.10 per share. Holder of each equity share is entitled to one vote. The Company
declares and pays dividends in Indian Rupees. The dividend proposed by the board of directors is subject to the approval of shareholders at the ensuing
Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distributionof
all preferential amounts. The distribution to equity shareholders will be in proportion to the number of equity shares held by the shareholders.
1. The Company undertakes the following activities in the nature of Corporate social responsibility (CSR) :
a. Promoting education, including special education and employment enhancing vocational skills, especially among
children, women, and elderly.
b. Promotion of health care, including preventive health care and sanitation.
c. Measures for the benefit of armed forces veterans, war widows, and their dependents.
2. CSR expenses for the current year includes excess provision for earlier year which has been adjusted in current year.
1. The Current Ratio decreased by 42.65% for the year ended 31st March 2025 as compared to the previous financial year, due to a
significant increase in current liabilities relative to current assets during the year.
2. The Debt Service Coverage Ratio increased by 110.62% for the year ended 31st March 2025 compared to the previous financial year,
primarily due to a rise in operating income during the year.
3. The Inventory Turnover Ratio decreased by 28.53% for the year ended 31st March 2025 compared to the previous financial year,
primarily due to a rise in Average inventory.
4. The Trade Receivables Turnover Ratio decreased by 48.68% for the year ended 31st March 2025 as compared to the previous
financial year, primarily due to a significant increase in trade receivables relative to net sales during the year.
5. The Trade Payables Turnover Ratio decreased by 89.22% for the year ended 31st March 2025 as compared to the previous financial
year, due to a substantial increase in trade payables relative to net purchases during the year.
6. Working Capital Turnover Ratio increased by 51.66% for the year ended 31st March 2025 as compared to the previous financial
year, primarily due to an increase in Net Sales during the year.
7. Return on Capital Employed increased by 56.85% for the year ended 31st March 2025 as compared to the previous financial year,
primarily due to an increase in Earnings Before Interest and Taxes (EBIT) during the year.
8. Return on Investment ratio as on 31.03.2024 is not annualized as the company had been listed on 19.03.2024. Therefore it is not
compared.
NOTE 1.20.
No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:
a) Crypto Currency or Virtual Currency
b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder
c) Registration of charges or satisfaction with Registrar of Companies
d) Relating to borrowed funds
i) Wilful defaulter
ii) Utilisation of borrowed funds & share premium
iii) Borrowings obtained on the basis of security of current assets
iv) Discrepancy in utilisation of borrowings
v) Current maturity of long term borrowings
e) There are no layer of companies, hence no disclosures are required.
f) There is no scheme of arrangement approved in terms of section 230 to 237 of Companies Act, 2013.
g) There are no loans and advances in the nature of loans that are granted to promoters, directors, KMP's and other related parties either severally or jointly
with anyother person that are repayable on demand.
h) The company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in
the income tax assessments under the Income tax Act, 1961.
i) The company has not advanced or loaned or invested funds to anyother person(s) or entity(ies), including foreign entities (intermediaries) with the
understanding that the intermediaries shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate
beneficiery) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficieries
j) The company has not received from any person(s) or entity(ies), including (funding party) with the understanding that the company shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate
beneficiery) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficieries
NOTE 1.21. DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES
The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956 during the financial year.
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