Corporate Information
M/s Bonlon Industries Limited("the Company") is a public limited Company listed on BSE Ltd The company is engaged in manufacuring and trading of Insulated Cables,
ferrous/ Non-Ferrous Metals mainly: Copper, Aluminium, Zinc, Lead, etc. The company caters to both domestic as well as international market is having it s registered office at
7A/39 (12-Ist Floor), W.E.A. CHANNA MARKET, KAROL BAGH, NEW DELHI-110005 and manufacturing unit at E-424, RIICO Industrial Area, Chopanki, Bhiwadi,
Rajasthan-301019.
NOTE '2'
2.1 Accounting Standards
'The financial statements comply in all material aspects with Indian Accounting Standards (Ind AS) notified under the Section 133 of the Companies Act, 201 3, Companies
(Indian Accounting Standards) Amendment Rules, 2020 and other relevant provisions of the Act The company has migrated from BSE SME platform to BSE Main Board on
23rd September 2022. Accordingly, the company is required to prepare the financial statement on the basis of IndAS from the financial year beginning on 1st April 2022
2.2 Basis of Accounting and Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis except for following assets and liabilities which have been measured at fair value amount:
(i) Certain financial assets and liabilities
fii) Defined benefit plans - plan assets
The financial statements of the Company have been prepared to comply with the Indian Accounting standards (‘Ind AS’), including the rules notified under the relevant
provisions of the Companies Act, 2013.
Company's financial statements are presented in Indian Lakh ('), which is also its functional currency
2.3 Use of Estimates ......
'Preparation of the financial statements requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the year The Management believes that the estimates used in preparation of the financial statements are
prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognised in the periods in
which the results are known / materialise.
2.4 Inventories
Finished goods, and Scrap are valued at Cost or NRV which ever is lower. Net realisable value is estimated selling price in ordinary course of business less estimated cost Tor
completion/ making sale.
Raw Materials, Trading Goods are determined on First in First Out (FIFO) Basis.
2.5 Depreciation and amortisation
Pursuant to Companies Act, 2013, the company depreciates its assets by the estimated useful life of the fixed assets on written down value as prescribed under Schedule II of
[he Companies Act, 2013
2.6 Revenue Recognition
Sale of Goods .
Revenue is recognised on accrual basis Revenue from sale of goods is recognised on transfer of all significant risk and rewards of ownership to the buyer. GST is accounted on
exclusive method Interest income is recognised on accural basis Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection
All expenses and income to the extent considered payable and receivable respectively unless specifically stated otherwise are accounted for on mercantile basis
2.7 Property Plant and Equipments
Property, Plant and Equipment are stated at cost net of recoverable taxes and includes amounts added on revaluation, less accumulated depreciation and impairment loss, if any
The cost of Tangible Assets comprises its purchase price and any cost directly attributable to bringing the asset to its working condition tor its intended use
All costs, attributable to the fixed assets are capitalized. Subsequent expenditures related to an item of Tangible Asset are added to its book value only if they increase the future
benefits from the existing asset beyond its previously assessed standard of performance.The Title Deeds of all the properties are in the name of the Company except Property
held at Sungurpur Delhi 110036 (in the name of M/s Harshit Promoter Private Limited (Transferor Company) which was amalgamated with the Company in pursuance of
Section 230-232 of the Companies Act, 2013 and the Order of the Hon'ble National Company Law Tribunal, Principal Bench, New Delhi dated June 13,2018).
2.8 Employee Benefits
Defined Benefit Plans
The Company's contributions to Employees State Insurance Fund and Provident Fund is considered a defined contribution plan and is charge as an expenses as it fall due based
on the amount of contribution required to be made Eligible employees receive benefits from a provident fund, which is a defined benefit plan. Both the eligible employee and
the Company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee’s salary. The Company contributes a portion to the
Employees’ Provident Fund Account.
The Company has not made any provision for gratuity .bonus, leave encashment and leave travel allowance etc. during the year The management had decided to pay gratuity at
the time of retirment as per provisions applicable
2.9 Investment
Investments intended to be held for more than a year are classified as long-term investments. All other investments are classified as current investments Long term investments
are stated at cost. However provision (if any) for diminution is made to recognize any decline, other than temporary, in the value of investments Current ^vaied
at lower of cost or market value on an individual investment basis. ~
2.10 Earning Per Share Pj f
Basic earnings per share are calculated by dividing the net profit or loss after tax (including the post tax effect of extraordinary items, if any) for the yeitf^WgtsflSle to equfb'l
shareholders by the weighted average number of equity shares outstanding during the year \Q\^
For the purpose of calculating diluted earnings per share, the net profit or loss after tax (including the post tax effect of extraordinary items, if any) for thc\^ T-rttr y/
equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity sliarcSstjj*
NOTES FORMING PART OF ACCOUN IS
NOTE T
2.11 Taxes on Income . . . , t iQfil
Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, •
Deterred tax is recognised on tiiffii differences, being the differences between the taxable income and the accounting income that originate in one period and are capab
reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. D <
liabilities are recognised for ah timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is n
certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other items only
Mt^TthaTreasonable certainty exists that sufficient future taxable income will be available against which these can be reviewed1 at
such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off. Deferred tax assets are revie
each Balance Sheet date for their realisability.
« “Si of «>»*. P.* «to when „ re>0,», — «*= P^
Statement of nrofit and loss Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchang
prevalent at t£e date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency;an
Le translated at the exchange rate prevalent at the date of transaction. Revenue, expense and cash-flow items denommated in foreign currencies are translated using
exchange rate in effect on the date of the transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net pr
for the period in which the transaction is settled.
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