j) Provisions
A provision is recognized when an enterprise has a present obligation as a result of past event and it is probable
that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can
be made. Provisions are not discounted to its present value and are determined based on best estimate required
to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted
to reflect the current best estimates.
k) Earnings per Share
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.
30. Exceptional items consist of provision for diminution in value of investments in and advances to
subsidiaries made during the year.
31. The business of the Group for the previous period was impacted due to outbreak of Covid 19. During the
current year the company witnessed a good recovery in the business aided by leisure travel and gradual pickup
in the business segment. Management has secured a cash reserve to enable the Company to meet its
obligations as they fall due and for its operational need. The Group has assessed future projections and based
on estimates, expects to recover the carrying amount of these assets. Even though material uncertainty about
going concern exists, considering various mitigating factors, the management does not see any risks in the ability
to continue as a going concern and meeting its liabilities as and when payable. Accordingly, financials have been
prepared on going concern basis. The Company will closely monitor any material changes to future economic
conditions on account of Covid 19 to assess any possible impact on the Company.
32. The Company has invested Rs 1,00,000/- in equity capital of its wholly owned domestic subsidiary -
Sanghvi Beauty and Salons Private Ltd and had also granted unsecured loan aggregating to (Rs. In Thousand)
51,825.62/-. In addition to this, the subsidiary company has been incurring losses and its net worth as on March
24, is negative (Rs. In Thousand) 41,383.46/- The Management has considered that erosion in net worth is
temporary and expects improvements in operations in near future.
33. The Company has invested Rs. 97,500/- in the equity share capital of its subsidiary - Sanghvi Fitness
Private Limited and given unsecured loan of (Rs. In Thousand) 8,753.70/- The subsidiary company has been
incurring losses for the past few years and its net worth as on March 24, is negative (Rs. In Thousand)
5,842.56/-. The Management has considered that erosion in net worth is temporary and expects improvements
in operations in the near future.
34. The company has given the advances to its subsidiaries to incur operating expenses as per normal trade
practice. Such advances are interest free and not prejudicial to the interest of the company. Accordingly, these
advances are not considered as loans.
35. Additional Regulatory Information
(i) Following Ratios to be disclosed:-
37. Previous year figures are rearranged/ regrouped wherever necessary.
As per our attached report on even date
For B K Khare and For and on behalf of Board of Directors
Co.
Chartered Sanghvi Brands Limited
Accountants
Firm Registration Number - 105102W (Formerly Known as SANGHVI
BRANDS PRIVATE LIMITED)
Sd/- Sd/- Sd/- Sd/- Sd/- Sd/-
Amit Mahadik Dr. Vijay Darpan Sanghvi Narendra Kruti H. Shah Laxmi Rathi
Aggarwal Sanghvi
Partner CEO Director Director Company CFO
CEO Secretary
M.No. 125657 Place: Mumbai DIN: 02912102 DIN: 02912085 Place: Mumbai Place: Mumbai
Place: Pune Date: Place: Mumbai Place: Mumbai Date: Date:
27/05/2024 27/05/2024 27/05/2024
Date: 27/05/2024 Date: Date: Date: 27/05/2024
27/05/2024
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