Note 2.21 Provisions, contingent liabilities and contingent assets
Provisions are recognised when the Company hasa present obligation (legal or constructive) as a result of
a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount
recognised as a provision is the best estimate of the consideration required to settle the present obligation
at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Non¬
current provisions are discounted to their present value where the effect of the time value of money is
material.
A contingent liability is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly
within the control of the Company, or a present obligation that is not recognised because it is not probable
that an outflow of resources will be required to settle the obligation, or because the amount of the
obligation cannot be measured with sufficient reliability. The Company does not recognise contingent
liabilities but discloses their existence in the financial statements. Contingent assets are not recognised in
the financial statements but are disclosed where an inflow of economic benefits is probable.
Note 2.22 Investments in subsidiaries, associates and joint ventures
Investments in subsidiaries, associates and joint ventures are carried at cost less accumulated impairment
losses, if any, in accordance with Ind AS 27 “Separate Financial Statements11. Where an indication of
impairment exists, the carrying amount of the investment is assessed and an impairment loss is recognised
if the recoverable amount is lower than the carrying amount. On disposal, the difference between the net
disposal proceeds and the carrying amount of the investment is recognised in the Statement of Profit and
Loss.
Note 2.23 Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand, demand deposits with banks, and
short-term, highly liquid investments with an original maturity of three months or less from the date of
acquisition that are readily convertible into known amounts of cash and which are subject to an
insignificant risk of changes in value. For the purpose of the Statement of Cash Flows, cash and cash
equivalents consist of cash and short-term deposits as defined above, net of outstanding bank overdrafts
(if any) where they form an integral part of the Company’s cash management.
Note 2.24 Dividend distribution to equity shareholders
Final dividends on equity shares are recognised as a liability in the period in which they are approved by the
shareholders in the Annual General Meeting. Interim dividends are recognised as a liability in the period in
which they are declared by the Board of Directors. The corresponding amount is recognised directly in
equity, along with any applicable tax thereon.
Note 2.25 Events after the reporting period
Adjusting events (i.e., events that provide evidence of conditions that existed at the reporting date)
occurring after the reporting date up to the date on which the financial statements are approved by the
Board of Directors are recognised in the financial statements. Non-adjusting events (i.e., events that are
indicative of conditions that arose after the reporting date) occurring after the reporting date that are of
material size or nature are disclosed in the financial statements.
Note 2.26 Government grants
Government grants are recognised in accordance with Ind AS 20 only where there is reasonable assurance
that the Company will comply with the conditions attached to them and the grants will be received. Grants
related to income are recognised in the Statement of Profit and Loss on a systematic basis over the periods
in which the Company recognises as expenses the related costs for which the grants are intended to
compensate. Grants related to assets are presented in the balance sheet as deferred income and
recognised in profit or loss on a systematic basis over the useful life of the related asset.
Note 2.27 Insurance claims
Insurance claims (including hull, machinery and protection-and-indemnity claims) are accounted for on
the basis of claims admitted/expected to be admitted, and to the extent that the amount recoverable can
be measured reliably and it is reasonable to expect ultimate collection. Any difference between the
amounts ultimately collected and the amounts recognised is dealt with in the Statement of Profit and Loss
in the period of settlement. Claims that are not virtually certain are disclosed as contingent assets, in
accordance with Ind AS 37.
Note 2.28 Corporate social responsibility (CSR) expenditure
Expenditure incurred by the Company towards Corporate Social Responsibility, in accordance with Section
135 of the Companies Act, 2013 and rules made thereunder, is recognised in the Statement of Profit and
Loss as it is incurred. Any unspent amount as at the reporting date, in respect of an ongoing project, is
transferred to the Unspent CSR Account within the timelines prescribed under the Act. Excess amount
spent, if any, is recognised in accordance with applicable guidance. 124
Note 2.29 Recent accounting pronouncements
(a) New and amended standards adopted during the year
The Ministry of Corporate Affairs (“MCA“), through the Companies (Indian Accounting Standards)
Amendment Rules, 2025 and the Companies (Indian Accounting Standards) Second Amendment Rules,
2025 (notified on 13 August 2025), has notified amendments to certain Ind AS, applicable to annual
reporting periods beginning on or after 1 April 2025. Amendments effective for the Company’s financial
year ended 31 March 2026 include:
• Amendment to Ind AS 21 “The Effects of Changes in Foreign Exchange Rates“- Lack of Exchangeability:
provides guidance on assessing whether a currency is exchangeable into another currency and, when it
is not, on determining the spot exchange rate and the related disclosures. The Company has assessed
the amendment and concluded that there is no material impact on its financial statements.
• Amendment to Ind AS 7 “Statement of Cash Flows“ and Ind AS 107 “Financial Instruments: Disclosures11
- Supplier Finance Arrangements: introduces disclosure requirements that enable users to assess the
effects of supplier finance arrangements on the Company’s liabilities and cash flows and on the
exposure to liquidity risk. The Company has applied the amendment; the required disclosures are made
where applicable.
• Amendment to Ind AS 12 “Income Taxes“ - International Tax Reform / Pillar Two model rules: provides
a temporary mandatory exception from recognising and disclosing information about deferred tax
assets and liabilities arising from Pillar Two income taxes, together with targeted disclosure
requirements. The Company has applied the temporary exception and disclosed the related qualitative
and quantitative information where applicable.
• Consequential amendments to Ind AS 101, 108, 109, 115, 10, 28 and 32-these amendments are
clarificatory in nature, address paragraph references and transitional provisions, and have no material
impact on the Company’s financial statements.
(b) Standards issued but not yet effective
The following amendments, notified by the MCA, have been issued but are not yet effective for the
Company for the year ended 31 March 2026. The Company is in the process of evaluating the impact, if any,
of these amendments and intends to adopt them from the respective effective dates:
• Amendments to Ind AS 1 “Presentation of Financial Statements11 and Ind AS 10 “Events after the
Reporting Period“- Classification of Liabilities as Current or Non-current, including liabilities subject to
covenants: mandatory for annual reporting periods beginning on or after 1 April 2026.
• Any other amendments notified by the MCA after the date of approval of these financial statements
but not yet effective for the Company will be assessed and adopted when effective.
a. Credit Risk:
Credit Credit risk risk encompasses is the risk of financial of both, loss arising from a counterparty’s failure to
repay or service debt according to the contractual terms or obligations. The direct risk of default and the risk of
deterioration of creditworthiness as well as concentration of risks. after Credit obtaining risk is controlled
through approvals, analysing credit limits and creditworthiness of customers on a continuous basis to whom
the credit has been granted for credit. Trade receivables consist of a large number of customers spread across
diverse industries and geographical areas with no significant concentration of credit risk. The outstanding trade
receivables are regularly monitored and appropriate action is taken for the collection of overdue receivables.
b. Liquidity Risk:
Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with
financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach for
managing liquidity is to ensure that it will have sufficient liquidity to meet its liabilities when they are due, under
both normal and stressed conditions, without incurring unacceptable losses or risking damage to Company’s
reputation, typically the company ensures that it has sufficient cash on demand to meet expected operational
expenses, servicing of financial obligations.
c. Market Risk:
Market risk is the risk of loss of future earnings or fair values or future cash flows that may result from a change
in the price of a financial instrument. The value of a financial instrument may change as a result of changes in
the interest rates, foreign exchange rates and other market changes that affect market risk-sensitive
instruments. The do not have such exposure as on the balance sheet date.
31. The company is engaged in the business of owning & operating barges, tugs & vessels in addition to
undertaking ship management for other owners. From the internal organization of the Company’s activities
and consistent with the internal reporting provided to the chief operating decision-maker and after
considering the nature of its services, the ultimate customer availing those services and the methods used
by its to provide management those reporting services, “Vessel and controlling Operating Services11 has
been identified to be the Company’s sole operating segment. The Company’s of significant accounting
policies under systems principally use accounting policies that are the same as those described in Note 2 in
the summary Ind AS.
32. Disclosure U/s 186 (4) Of Companies Act, 2013
Name of Subsidiary: Nil
Investment Details in Subsidiary: Not Applicable
33.In the opinion of the management, the current assets, loans and advances (including capital advances)
have a value on realization in the ordinary course of business at least equal to the amount at which they are
stated. The provision for all known liabilities is adequate and not in excess of what is required.
34.The balances in the accounts of Trade Debtors and Trade creditors are subject to
reconciliation/confirmations. The management have prepared the reconciliation statements and there is no
material difference affecting the current year’s financial statements.
35. The company is not covered under the provisions of Section 135 of Companies Act, 2013, hence no
disclosure is required for same.
36. The company has not traded or invested in Crypto Currency or virtual currency during the financial year.
37. The company has availed borrowings from Bank during the financial year and utilised the same for the
purpose it was taken. The company has never been declared a wilful defaulter by any bank or financial
institution.
38. The Company has filed quarterly returns or statements with the banks in lieu of the sanctioned working
capital facilities, which are in agreement with the books of account.
39. Capital Management: The Company’s capital management is intended to create value for shareholders by
facilitating the achievement of long- term and short-term goals of the Company. The Company determines
the amount of capital required on the basis of annual business plan coupled with long-term and short-term
strategic investment and expansion plans. The funding needs are met through equity, cash generated from
operations, long-term and short-term bank borrowings and issue of non-convertible debt securities.
Company monitors the capital structure on the basis of net debt to equity ratio and maturity profile of the
overall debt portfolio of the Company.
40. The Code on Social Security, 2020 (’Code’) relating to employee benefits during employment and post¬
employment received Indian Parliament approval and Presidential assent in September 2020.The Code has
been published in the Gazette of India and subsequently on November 13, 2020 draft rules were published
and invited for stakeholders’ suggestions. However, the date on which the Code will come into effect has not
been notified. The Company will assess the impact of the Code when it comes into effect and will record any
related impact in the period the Code becomes effective.
41. Considering future economic benefits of the assets and appropriate preparation and presentation of the
financial statements, the company has adopted straight line method of depreciation w.e.f. 01stApril 2022.
42. The company do not have any intangible assets under development; hence no disclosure is required under
the clause.
43. Capital Commitment Current Year -Rs. Nil. (Previous Years: 177.68 Lakhs)
44. The title deeds of all the immovable properties (other than properties where the Company is the lessee), are
held in the name of the Company.
45. The company has not granted any loans or Advances in the nature of loans to promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other
person during the financial year.
46. No proceeding has been initiated or pending against the company for holding any benami property under
the Benami Transactions (Prohibition) Act, 1988.
47. The provision of sub-section 87 of section 2 of the Companies Act, 2013 is not applicable to the company.
48. Key assumptions used in the measurement of retiring gratuity are as below:
Discount rate :7.50%
Salary Escalation: 5.00% pa
Attrition Rate : 5.00% pa
51 The company have not entered into any transaction) s) with companies struck off under section 248 of the Companies Act, 2018 or section
560 of Companies Act, 1956.
52 The Company has been working in various port services viz. 05V, OSR, Port Services etc. The company has so[d one of its vessel "ADfTRf at
Lagos, Nigeria due to operational hindrances. This has resulted in a hook loss of Rs.36,58 Crore. Total WDV as per hooks of Rs.76.47 crore
and the sale value of Aditri Rs, 39.89 Crore,
The Company lost its FRP Patrol Boat "S.B. Bair” during the monsoon period of FV 2025-26. Against the asset's written down value of
*542.46 lakh, the Company received an insurance settlement of ^2.39 crore, resulting in a net gain of approximately *51.96 crore.
The company has given the net effect of loss of Rs.34.62 Crore debited to Reserves and Surplus.
53 Previous Year Figures have been regrouped/ re- arranged / re- classified, wherever required to make comparable,
|