Provisions and Contingent Liabilities and Contingent Assets:
Provisions are recognized when the Company has a legal and constructive obligation as a
result of a past event, for which it is probable that cash outflow will be required and a reliable
estimate can be made of the amount of the obligation.
Contingent liabilities are disclosed when the Company has a possible or present obligation
where it is not probable that an outflow of resources will be required to settle it. Contingent
assets are disclosed only when an inflow of economic benefit is probable.
Impairment Loss:
The Company assesses at each Balance Sheet date whether there is any indication that an
asset may be impaired. If any such indication exists, the Company estimates the recoverable
amount of the asset. The recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimated future cash flows are discounted to their present
value based on an appropriate discount factor. If such recoverable amount of the asset or
the recoverable amount of the cash generating unit to which the asset belongs is less than
its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction
is treated as an impairment loss and is recognized in the Statement of Profit and Loss. If at
the Balance Sheet date, there is an indication that a previously assessed impairment loss
no longer exists, the recoverable amount is reassessed and the asset is reflected at the
recoverable amount subject to a maximum of depreciable historical cost.
Foreign Currency:
a) Foreign Currency Transactions: - Transactions in foreign currencies are translated
into the respective functional currencies of the Company at the exchange rates on the
date of transactions or an average rate, if the average rate approximates the actual rate
at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into the
functional currency at the exchange rate on the reporting date. Non-monetary assets
and liabilities that are measured at fair value in foreign currency are translated into the
functional currency at the exchange rate when the fair value was determined. Non¬
monetary assets and liabilities that are measured based on historical cost in a foreign
currency are translated at the exchange rate on the date of the transaction. Exchange
differences are recognised in profit & loss, except exchange differences arising from the
translation of the following items which are recognised in OCI:
- Equity investments at fair value through OCI (FVOCI)
- A financial liability designated as a hedge of the net investment in a foreign operation
to the extent that a hedge is effective; and
- Qualifying cash flow hedges to the extent that hedges are effective
b) Foreign Operations: - The assets and liabilities of foreign operations (subsidiaries,
associates, joint arrangements, branches) including goodwill and fair value adjustments
arising on acquisition, are translated into INR, the functional currency of the Company,
at the exchange rates on reporting date. The income and expenses of foreign operations
are translated into INR at the exchange rates on the dates of transactions or an average
rate if the average rate approximates the actual rate on the date of transaction.
When a foreign operation is disposed of in its entirety or partially such that control, significant
influence or joint control is lost, the cumulative amount of exchange differences related to that
foreign operation recognised in OCI is reclassified to profit or loss as part of the gain or loss on
disposal.
Financial Instruments
Financial assets and financial liabilities are recognized when the company becomes a party
to the contractual provisions of the instruments. Financial assets and financial liabilities are
initially measured at fair value. Transaction costs that are directly attributable to the acquisition
or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added to or deducted from the fair value of
the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction
costs directly attributable to the acquisition of financial assets or financial liabilities at fair value
through profit or loss (“FVTPL”) are recognized immediately in the statement of profit and loss.
1) Financial Assets - amortised cost
Financial assets that meet the following conditions are measured at amortized cost
(except for financial assets that are designated as at fair value through profit or loss on
initial recognition):
a) The asset is held within a business model whose objective is to hold assets in order
to collect contractual cash flows;
b) The contractual terms of the instrument give rise on specified dates to cash
flows that are solely payments of principal and interest on the principal amount
outstanding.
2) Financial Assets - FVTOCI
Financial assets that meet the following conditions are measured at Fair Value Through
Other Comprehensive Income (FVOCI):
a) The asset is held within a business model whose objective is to hold assets in order
to collect contractual cash flows and selling financial assets;
b) The contractual terms of the instrument give rise on specified dates to cash
flows that are solely payments of principal and interest on the principal amount
outstanding.
3) Financial Assets - FVTPL
Financial Assets that do not meet the amortized cost or FVOCI criteria are measured at
FVTPL. In addition, financial assets that meet the amortized cost or FVOCI criteria but
are designated as at FVTPL are measured at FVTPL.
4) Impairment of Financial Assets:
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model
for measurement and recognition of impairment loss on the following financial assets and
credit risk exposure:
a) Financial assets that are debt instruments, and are measured at amortised cost
b) Lease receivables under Ind AS 17
c) Trade receivables or any contractual right to receive cash or another financial asset
that result from transactions that are within the scope of Ind AS 11 and Ind AS 18
d) Loan commitments which are not measured as at FVTPL
e) Financial guarantee contracts which are not measured as at FVTPL
ECL is the difference between all contractual cash flows that are due to the entity in
accordance with the contract and all the cash flows that the entity expects to receive (i.e.,
all cash shortfalls), discounted at the original EIR.
5) Financial Liabilities:
All financial liabilities are initially recognised at fair value, which is normally the transaction
price plus, for those financial liabilities not carried at fair value through profit & loss,
directly attributable transaction costs.
All financial liabilities are subsequently measured at amortized cost using the effective
interest method or at FVTPL except for
a) financial liabilities that arise when a transfer of a financial asset does not qualify for
derecognition or when the continuing involvement approach applies or
b) financial guarantee contracts issued by the Company and
c) commitments issued by the Company to provide a loan at below-market interest
rate are measured in accordance with the specific accounting policies set out
below.
Financial liabilities that are not held-for-trading and are not designated as at FVTPL
are measured at amortized cost at the end of subsequent accounting periods. The
carrying amounts of financial liabilities that are subsequently measured at amortized
cost are determined based on the effective interest method. Interest expense that is not
capitalized as part of costs of an asset is included in the ‘Finance costs’ line item.
6) Derecognition of Financial Assets:
A financial asset is derecognized only when:
1. The Company has transferred the rights to receive cash flows from the financial
asset or
2. Retains the contractual rights to receive the cash flows of the financial asset, but
assumes a contractual obligation to pay the cash flows to one or more recipients.
Where the Company has transferred an asset, the Company evaluates whether it has
transferred substantially all risks and rewards of ownership of the financial asset. In
such cases, the financial asset is derecognized. Where the Company has not transferred
substantially all risks and rewards of ownership of the financial asset, the financial asset
is not derecognized.
Where the Company has neither transferred a financial asset nor retains substantially all
risks and rewards of ownership of the financial asset, the financial asset is derecognized
if the Company has not retained control of the financial asset. Where the Company
retains control of the financial asset, the asset is continued to be recognized to the extent
of continuing involvement in the financial asset.
Borrowing Costs:
Borrowing costs that are attributable to the acquisition or construction of qualifying assets are
capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use or sale or those assets that are not
ready for their intended use or sale when acquired. All other borrowing costs are charged to
revenue in the period in which they are incurred.
Inventories:
Raw Material, Packing Material, Stores & Spares and Finished Goods are valued at cost or
net realizable value, whichever is lower. Cost of stock is determined on FIFO basis. Work in
progress is valued at cost or net realizable value, whichever is lower based on estimate of
the stage of each job [by technical personnel] as a percentage of net invoice as reduced by
estimated profit margin.
Cash and cash equivalents:
Cash and cash equivalents for the purpose of cash flow statement on balance sheet date
comprise cash at bank and on hand and short term investments with an original maturity of
three months or less.
Recent pronouncements:
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to time.
For the year ended March 31,2025, MCA has not notified any new standards or amendments
to the existing standards applicable to the Company.
11(b) Rights attached to equity shares :
The Company has only one class of equity shares having a par value of ' 10/- per share. Each
shareholder is eligible for one vote per share. In the event of liquidation, the equity shareholders are
eligible to receive the remaining assets of the Company, after distribution of all preferential amount,
in proportion to their shareholdings.
Pursuant to the approval of the shareholders through Postal Ballot on 24/02/2024, the Company has
sub-divided / splited each fully and partly paid-up equity share having face value of ' 10/- (Rupees
Ten Only) each sub-divided into 2 fully and partly equity shares having face value of ' 5/- (Rupees
Five Only) each. As a result of this, the number of paid up equity shares of the Company has
increased from 61,85,000 to 1,23,70,000.
29. Capital Commitment: Nil as on 31.03.2025 (Previous Year Nil)
30. The Company did not have any pending litigations having impact on its financial position
reflected in the financial statement.
31. Segment Reporting
The Company’s operating business are organized and managed separately according to
nature of products and services provided with each segment representing a strategic business
unit that offers different product and serves different markets. The analysis of geographical
segments is based on the areas in which major operating divisions of the Company
operates.
Income & expenses which relate to the Company as a whole and not allocable to segments
are included in “Un-allocable Income / Expense”.
Information about business segments for the financial year 2024-25 under Ind AS - 108 on
Operating Segments as per the Chief Operating Decision Maker of the Company is as under:
46. Other Statutory Information -
i. Disclosure of Transactions with struck off Companies - The Company did not have any
transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956 during the financial year.
ii. The Company do not have any Benami property, where any proceeding has been
initiated or pending against the Company for holding any Benami property.
iii. The Company has not been declared as a willful defaulter by any lender who has powers
to declare a company as a willful defaulter at any time during the financial year or after the
end of reporting period but before the date when the financial statements are approved.
iv. The Company do not have any cases where quarterly returns or statements of current
assets filed by the Company with banks or financial institutions are not in agreement with
the books of accounts.
v. The Company do not have any charges or satisfaction which is yet to be registered with
ROC beyond the statutory period.
vi. The Company have not traded or invested in Crypto currency or Virtual Currency during
the financial year.
vii. The Company have not advanced or loaned or invested funds to any other person(s)
or entity(ies), including foreign entities (Intermediaries) with the understanding that the
Intermediary shall:
(a) Directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries), or
(b) Provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries
viii. The Company have not received any fund from any person(s) or entity(ies), including
foreign entities (Funding Party) with the understanding (whether recorded in writing or
otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,
ix. The Company does not have transaction which is not recorded in the books of accounts
that has been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961 (such as, search or survey or any other relevant
provisions of the Income Tax Act, 1961)
47. The additional Information pursuant to Schedule III to the Companies Act, 2013 are either Nil
or Not Applicable.
48. The previous year figures have also been reclassified / regrouped / restated to conform to
current year’s classification.
49. The Financial Statements were approved for issue by the Board of Directors on 23.05.2025.
As per our attached report of even date For and on behalf of the Board of Directors
For C K S P AND CO LLP
Chartered Accountants Sd/- Sd/-
FRN - 131228W / W100044 Jagmeet Singh Sabharwal Akshay Veliyil
Chairman & Managing Director Director
DIN: 00270607 DIN: 07826136
Sd/-
Dhananajay Jaiswal Sd/- Sd/-
Partner Kalpesh Shah Ronak Parakh
M.No.187686 Chief Financial Officer Company Secretary
Membership No: A74509
Place: Mumbai
Date: 23/05/2025
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