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3.26 Contingent Liabilities not provided for: -
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Particulars
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Year ended March 31, 2025
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Year ended March 31, 2024
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Disputed Income Tax Liability
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787.93
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787.93
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Disputed Custom Duty Liability
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3.16
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3.16
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Claims against the Company not acknowledged as debts (Laboure matters involving issues like termination of employment) 1
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-
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-
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Disputed VAT Liability
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41.69
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41.69
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Total
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832.79
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832.79
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In respect of above matters, future cash flows in respect of contingent liabilities are determinable only on receipts of judgments pending at various forums/authorities.
3.28 Segment Reporting: -
Information about Primary (Business) Segment:
The Company operates in single business segment of "Dyes Intermediates". Hence, there is only one reportable business segment as envisaged in Accounting Standard (AS) 17 "Segment Reporting".
3.29 Retirement Benefits: -
Disclosure Requirement as per AS-15 (Revised 2005) “Employee Benefits” notified under section 133 of the Companies Act, 2013
a) Defined Contribution Plan (Provident Fund) included in Employee Benefit Expenses during Current Year is Rs.
b) Defined Benefit Plan: -
Prolife Industries Limited has defined benefit gratuity plan.
3.30 Duty Drawback:
Duty Drawback and RoDTEP claim which are received and receivable for F.Y. 2024-25 are recorded.
3.31 Prior Period Expenses:
All identifiable items of Income and Expenditure pertaining to prior period are accounted as "Prior Period Items".
3.32 Realizations:
In the opinion of the Board and to the best of its knowledge and belief, the value on realization of current assets, loans and advances will, in the ordinary course of business, not be less than the amounts at which they are stated in the Balance sheet.
3.33 Micro Small and Medium Enterprise (MSME) Creditors:
The Micro Small and Medium Enterprise registered under The Micro small and Medium Enterprise Development Act 2006 have been taken based on the list of MSME creditors provided by the management. However, as the Company has not received any claims in Respect of such interest and as such, no provision has been made in the books of accounts.
3.42 Dividends
Dividend was proposed of Rs. 0.50 per equity share of FV Rs. 10 each for financial year 2023-2024 in board meeting and approved by shareholders in Annual General meeting so the final dividend was paid of Rs. 0.50 per equity share of financial year 2023-2024 in the current year 2024-25.
3.43 General Notes: -
Previous Year's figures have been regrouped / reclassified wherever necessary to correspond with current year's classification / disclosure.
Balances shown under Long-term Borrowings, Long Term Provisions, Short Term Provisions, Trade Payables, Other Current Liabilities, Long Term Loans and Advances, Inventories, Trade Receivables, Short Term Loans and Advances and Other Current Assets, etc. are subject to confirmation / reconciliation, if any. The management does not expect any material difference affecting the current year's financial statements.
1
It is in respect of the amount payable to one of its employees for employment termination. The liability has been calculated up to the Date of Order of Laboure Court. The Company has filed appeal against the issued orders.
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