N. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized if, as a result of a past event, the company has a present legal obligation that is reasonably estimate, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability. A disclosure for contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
O. Earnings Per Share:
Basic and diluted earnings per share are computed in accordance with Accounting Standard-20. Basic earnings per share is calculated by dividing the net profit or loss after tax for the year attributable to equity shareholders by the weighted average number of equities shares outstanding during the year.
Diluted earnings per equity share are computed using the weighted average number of equity shares and dilutive potential equity shares outstanding during the year, except where the results are antidilutive.
30) Additional regulatory information
(a) Details of crypto currency or virtual currency
. The Company has neither traded nor invested in Cryptocurrency or Virtual Currency during the Period ended March 31, 2024 and
March 31, 2023. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.
(b) Undisclosed income ,
During the Period ended March 31, 2024 and March 31, 2023, the Company has not surrendered or disclosed as income any transactions not recorded in the books of accounts in the course of tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act,1961).
(c) Loans or advances to specified persons
The Company has not granted any loans or advances in nature of loans to promoters/directors/KMPs/Related parties (as defined under the Companies Act, 2013) for the period ended March 31 ,2024 and March 31, 2023.
(d) Compliance with numbers of layers of companies
The Company is in compliance with the number of layers of companies in accordance with clause 87 of Section 2 of the Act read with the Companies (Restriction on number of Layers)Rules, 2017 during the period ended March 31,2024 and March 31, 2023.
(e) Utilisation of borrowed funds and share premium
During the Period ended March 31,2024 and March 31,2023 the Company has not advanced or loan ed or invested funds (either borrowed funds or share premium or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries)with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:
i) 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
ii) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
During the Period ended March 31, 2024 and March31, 2023, the Company has 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:
i) Directly or indirectly lend or invest in other person so entities identified in any manner whatsoever by or on behalf of the Funding Party( Ultimate Beneficiaries)or
ii) Provide any guarantee, security, or the like on behalf of the ultimate beneficiaries.
. (f) Relationship with struck off companies
The Company does not have any transactions with the companies struck-off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act,1956during the Period ended March 31,2024and March 31, 2023.
(g) The Company has not been declared Willful Defaulter by any bank or financial institution or government or any government authority.
(h) No proceeding have been initiated nor pending against the company for holding any benami property under the Benami Transactions (Prohibition)Act,1988(45of1988) and rules made thereunder.
(i) Theprovisionsofsec.135 of the Companies Act, 2013 related to Corporate Social Responsibility are applicable to the company. The total provision for the F.Y. 2023-2024 is Rs. 8.05 Lakhs.
Reasons for Variations
A Current Ratio: It is increased due to increase in current assets
B Debt - Equity Ratio: Debt Equity Ratio has been improved during the year mainly due to increase in Equity Capital and Securities premium received through Initial Public Offer by company as well as increase in current year net profit as compared to previous year
C Return on Equity (ROE) (%):Return on Equity Ratio is being decreased during the year mainly due to increase in Equity Capital and Securities premium received through Initial Public Offer by company. Due to IPO net worth of company is increased hence ROE decreased
D Trade payables turnover ratio: It is increased due to effective utilisation of limits and erly repayment of debts as compared to previous year.
E Net capital turnover ratio: It is primarily decreased due to increse in Working Capital
F Return on capital employed (ROCE) (%):It is decreased due to increased in capital employed. Due to IPO capital employed is increased.
G Return on investments (%):It is primarily being decreased during the year mainly due to increase in Equity Capital and Securities premium received through Initial Public Offer by company.
M/s. SVJK AND ASSOCIATES For and on behalf of the Board of Directors
(Formerly known as A S RV & Co.)
( y ) VISHWAS AGRI SEEDS LIMITED
Chartered Accountants
Firm's Registration No: 135182W
Reeturaj Verma Ashokbhai S.Gajera Dineshbhai M .Suvagiya
Partner Managing Director CFO/Director
M. No.193591 DIN :06503966 DIN: 06503976
UDIN :24193591BKAFMA9594
Karina Chandwani Company Secretary
Date:30th May,2024 Date: 30th May, 2024
Place: Ahmedabad_Place: Ahmedabad
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