s Provisions, Contingent liabilities and Contingent assets
Provisions
Provisions are recognised when the Company has a 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. When the Company expects some or all of a provision to be reimbursed, the reimbursement is recognised as a
separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of
profit and loss net of any reimbursement. If the effect of the time value of money is material, provisions are discounted using a current pre¬
tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the
passage of time is recognised as a finance cost.
Contingencies
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does have
recognized a contingent commitment in the financial statements,
t Exceptional Items
On certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the Company is
such that its disclosure improves the understanding of the performance of the Company. Such income or expense is classified as an
exceptional item and accordingly disclosed in the Financial Statements.
u Prior Period Items
Prior period items shall be separately disclosed in the statement of profit and loss in the reporting period together with their nature and
amount in a manner so that their impact on profit or loss in the reporting period can be perceived.
As per our report of even date
For S H DAM A & ASSOCIATES For and on behalf of the Board of
Chartered Accountants Shreenath Papers Product Limited
Firm's Registration No. 125932W
SD/- SD/- SD/-
CA Suresh Hansraj Dama Alok N Parekh Ronak H Parekh
Proprietor Managing Director Chief Executive Officer
Membership No. 118711 DIN 03467607 DIN 05319641
UDIN: 25118711BMFXXR3135
Place: Mumbai
Date: 30th May, 2025 SD/- SD/-
Navneetdas V Parekh Neetika Sanket Sakla
CFO(KMP) Company Secretary
Place: Chh. Sambhajinagar
Date: 30th May, 2025
(i) During the year, the Company has issued 53,10,000 equity shares of face value ^10 each at a premium of ^34 per share, aggregating to an
issue price of ^44 per share through an Initial Public Offering (IPO). The IPO was finalised on 03 March 2025, and the equity shares were listed
and admitted to dealings on the SME Platform of BSE Limited on 05 March 2025. The total proceeds from the IPO amounting to ^23.36 crores
have been accounted for under Share Capital and Securities Premium Account, as applicable. The utilisation of proceeds is in accordance with the
objects of the issue as stated in the prospectus filed with the stock exchange and SEBI.
(ii) The Board of Directors pursuant to a resolution dated November 28, 2023 and the shareholders special resolution dated December 21, 2023
have approved the issuance of seventeen bonus equity shares of face value Rs. 10 each for every one existing fully paid up equity share of face
value Rs. 10 each and accordingly 13547300 bonus equity shares were issued and allotted in accordance with the Section 63 of the Companies
Act, 2013.
(iii) The Board of Directors pursuant to a resolution dated February 27, 2023 and have approved Loan to Equity conversion of promoters
persuant to which Shares of Rs. 10/- each (Ten only) at a premium of Rs. 790/- (Seven Hundre and Ninety Only) per share to the Promoters and
accordingly 50000 equity shares were issued in accordance with the Section 62 of the Companies Act, 2013.
(iv) The Board of Directors pursuant to a resolution dated May 21, 2022 and have approved offer of Equity Shares of Rs. 10/- each (Ten only) at a
premium of Rs. 70/- (Seventy Only) per share to the existing shareholders and accordingly 62900 equity shares were issued and allotted in
accordance with the Section 62 of the Companies Act, 2013.
(i) During the year, the Company has issued 53,10,000 equity shares of face value ^10 each at a premium of ^34 per share, aggregating to an
issue price of ^44 per share through an Initial Public Offering (IPO). The IPO was finalised on 03 March 2025, and the equity shares were listed
and admitted to dealings on the SME Platform of BSE Limited on 05 March 2025. The total proceeds from the IPO amounting to ^23.36 crores
have been accounted for under Share Capital and Securities Premium Account, as applicable. The utilisation of proceeds is in accordance with the
objects of the issue as stated in the prospectus filed with the stock exchange and SEBI.
(ii) The Board of Directors pursuant to a resolution dated November 28, 2023 and the shareholders special resolution dated December 21, 2023
have approved the issuance of seventeen bonus equity shares of face value Rs. 10 each for every one existing fully paid up equity share of face
value Rs. 10 each and accordingly 13547300 bonus equity shares were issued and allotted in accordance with the Section 63 of the Companies
Act, 2013.
(iii) The Board of Directors pursuant to a resolution dated February 27, 2023 and have approved Loan to Equity conversion of promoters
persuant to which Shares of Rs. 10/- each (Ten only) at a premium of Rs. 790/- (Seven Hundre and Ninety Only) per share to the Promoters and
accordingly 50000 equity shares were issued in accordance with the Section 62 of the Companies Act, 2013.
(iv) The Board of Directors pursuant to a resolution dated May 21, 2022 and have approved offer of Equity Shares of Rs. 10/-each (Ten only) at a
premium of Rs. 70/- (Seventy Only) per share to the existing shareholders and accordingly 62900 equity shares were issued and allotted in
accordance with the Section 62 of the Companies Act, 2013.
The cash credit facility as provided by Kotak Mahindra Bank Ltd., Mumbai is secured by hypothecation of Net Stock-in-Trade, Book Debts and
Collateral Security (Equitable Mortgage) of properties owned by shareholders, which are Shop No. 5 & 6, Plot No. 136, Masco Corner, API Road,
N-l, CIDCO, Aurangabad; Shop No. 7, Shriram Complex, Bansilal Nagar, Aurangabad; Company Godown at Plot No. D57, Shendra Five Star MIDC,
Aurangabad; Flat No COS, Second Floor, C-Building, Pride Enigma, CTS No. 15842/P, Near Sports Complex, Sut Girni Road, Garkheda, Aurangabad;
Flat No D-805 Pristine City Phase 1, Gut No 1257, Bakori, Pune; Flat C502, 5th Floor C Building Blue Bells, Hare Ram Hare Krishna Co-Operative
Society, Near Prozone, Chikhalthana, Aurangabad; D 403,404, Rock Avenue, Plot E, Hindustan Naka, Kandiwali (W), Mumbai; C-102, Jaswanti
Allied Business Centre, Kanchpada Junction, Malad (W), Mumbai. The total limit of the Cash Credit facility is Rs. 18.00 Crores attracting an
interest of 8.50% p.a. The loan is also backed by the personal guarantee of all the promoters and Mrs. Hasumati H Parekh, Mrs. Hasumati N
Parekh and Mrs. Neha Ronak Parekh. The cash credit facitity as provided by HSBC Bank Ltd. for Rs. 12.00 Crores, MG Road, Mumbai branch is
secured by a pari-passu charge on the Current Assets of the company in tandem with State Bank of India Ltd and with an exclusive mortgage right
on Office No. 408, 4th Ftoor, Patmsprings Centre, Link Road, Irtatad (W), Mumbai. The loan is also backed by the personal guarantee of all the
promoters and Mrs. Hasumati H Parekh, Mrs. Hasumati N Parekh and Mrs. Neha Ronak Parekh.
Nature of CSR activities
setting up old age homes, day care centers and such other facilities for senior citizens
As per our report of even date
For S H DAMA & ASSOCIATES For and on behalf of the Board of
Chartered Accountants Shreenath Papers Product Limited
Firm's Registration No. 125932W
SD/-
SD/- SD/-
CA Suresh Hansraj Dama Alok N Parekh Ronak H Parekh
Proprietor Managing Director Chief Executive Officer
Membership No. 118711 DIN 03467607 DIN 05319641
UDIN: 25118711BMFXXR3135
Place: Mumbai
Date: 30th May, 2025 SD/- SD/-
Navneetdas V Parekh Neetika Sanket Sakla
CFO (KMP) Company Secretary
Place: Chh. Sambhajinagar
Date: 30th May, 2025
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