9. PROVISION AND CONTINGENT LIABILITIES :
Provisions are 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 to settle the obligation that can be reliably estimated. contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed.
10. PRIOR PERIOD ADJUSTMENTS :
Expense and income pertaining to earlier/previous years are accounted as prior period item.
11. INVESTMENTS :
Investment is stated at cost being long term Investment.
12. EARNING PER SHARE
Basic earnings per share are computed by dividing the net profit after tax attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the net profit after tax attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year as adjusted for the effects of all dilutive potential equity shares, if any.
13. TREATMENT OF RETIREMENT BENEFITS
• Provident Fund: The Company contributes towards provident fund which is administered by the Central Government and are charged against revenue every year.
• The company makes payment of gratuity as and when the liability for the payment arises
• Company's contribution paid / payable for the year to defined contribution retirement benefit scheme is dragged to the profit and loss account.
14. IMPAIRMENT OF ASSETS
An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been change in the estimate of recoverable amount.
• CSR provisions are applicable to the Company during the year for which disclosure has been provided below :
15. NOTES FORMING PART OF ACCOUNTS
a) In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which, they are stated in the Balance Sheet.
b) Balances under Sundry Debtors, Sundry Creditors, Loans& Advances are subject to confirmation and reconciliation with the respective parties/ concerns. Necessary adjustment if any, thereon having an importance of revenue nature, will be made in the year of such confirmation / reconciliation.
c) Wherever sufficient supporting are not available, we have relied upon the vouchers and explanations given by the Management.
d) Current Liability related to Small Scale Industrial Undertakings:
Based on the information available with the Company regarding the status of the supplier as defined under the interest on Delayed payments to Small Scale and Ancillary Industrial Undertaking Act, 1993, there are no amounts due to small scale and/or ancillary industrial suppliers on account of principal and/or interest as the close of the year which is outstanding for more than 30 days as at 31st March,2024.
Figures are rounded off to the nearest rupee. Previously year figures have been regrouped and / or rearranged whenever necessary to correspond with the current year's figures. Financial Data has been provided to the extent applicable to the Company.
Others
• In opinion of the management of the company, all loans, advances, and deposits are recoverable in cash or kind for value to be received for which no provision is required.
• Confirmations of the concerned parties for the amount due to them and/or due from them as per accounts of the company are not received. Necessary adjustments, if any, will be made when accounts are reconciled or settled. Balance of sundry debtors and creditors, loans and advances accepted and given in the balance sheet are subject to confirmation.
• The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.
Signature to all Schedules For, G M C A & Co.
For & on behalf of th Board Chartered Accountants
FRN: 109850W
Shalin A. Shah Ashok C. Shah Riddhi Shah Subha Ranjan Dash
Managing Director Director Company Secretary CFO CA Mitt S Patel
DIN : 00297447 DIN : 02467830 ' (Partner)
Place : Ahmedabad Membership No. 163940
Date : 28.05.2024 UDIN: 24163940BKADYX2393
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