(b) Terms/rights attached to equity shares:
The Company has only one class of equity shares having par value of ' 10 per share. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Carrying amounts of cash and cash equivalents, trade receivables, investments, unbilled revenues, loans, trade payables and other payables as at March 31,2024 and March 31,2023 approximate the fair value because of their short-term nature. Difference between carrying amounts and fair values of bank deposits, other financial assets, other financial liabilities and borrowings subsequently measured at amortised cost is not significant in each of the years presented.
The table has been drawn up based on the undiscounted contractual maturities of the financial liabilities including interest that will be paid on those liabilities upto the maturity of the instruments.
17 Capital management
For the purposes of the company's capital management, capital includes issued capital and all other equity reserves. The primary objective of the company's capital management is to maximize shareholder value. The company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.
18 Event occurred after the Balance Sheet Date
The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approval of financial statements to determi ne the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. As of May 29, 2024, there were no subsequent events to be recognised or reported that are not already disclosed.
During the year, advances given to supplier is more than previous year which lead to increase in current asset and trade payables are being paid during the year which
1 impacted current liability of the company.
2 debt is repaid by the company and net profit for the current year has been increased which resulted into increase in shareholder's fund.
Throughout the year, the company has generated revenue under consideration, which has led to an increase in net profit for the current financial year. This, in turn, has
3 resulted in higher earnings, enhancing the company's ability to cover its debt service obligations.
Company is in the good position after earing the revenue under consideration during the year. However expense are no more effected even though sales is increased
4 which gives the huge profit for the entity.
As the turnover of the entity has been increased the company is having the least of the closing stock which effected the inventory turnover ratio for the current year.
5
6 To earn the revenue the company is in excess credit purchase of the goods which lead to increase in both purchase and payables.
Entity has waived most off its debt during the year due to that liquidity for the year is effected but on the other hand turnover of the entity is increased which balanced
7 the capital required for the year.
Enity captured the good market position to enhance its turnover which gives the good return in form of net profit. Though turnover is increased expenses are
8 minimaliste towards increase which shows the good efficiency and capability of the entity.
During the year company has given the advances to its suppliers which enhanced the assets of the company and at the same time debts and payables are being paid
9 which leads to decrease in liability of the company and ultimetly this whole impact has effected the earning and capital.
21 Contingent Liabilities
Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability.
|
Particulars
|
As at 31st March 2024
|
As at 31st March 2023
|
|
Contingent liabilities:
|
139.91
|
139.91
|
1. The above matters are pending before various Income Tax Authorities. Company has not filed Appeal to the Commissioner of Income-tax (Appeals) and not file the response to disagree with demand(Either in Full or Part).
2. The Company has reviewed all its pending litigations and proceedings and has not provided as Contingent liabilities in its financial statements.
3. The Company does not expect the outcome of these proceedings to have a material adverse effect on its financial statements.
4. The Company has not given any Bank Guarantees in respect of Contingent liabilities.
5. Assessment proceedings under GST Act is under process for which management is of the opinion that there is no requirement to identify or make provision of any future liability if ascertained.
22 Other statutory informations
I. The Company do not have any Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property.
ii. The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
iii. The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.
iv. The Company has not advanced or loaned or invested funds to any person or any entity, 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 on behalf of the Company (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
v. The Company has not received any fund from any person or any entity, 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 a or on behalf of the Funding Party (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
vi. The Company have not any such 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
vii. Relationship with struck off companies - Basis the management's assessment, it has been concluded that the Company has made no transactions with struck-ofi companies under Section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956. Further, there are no outstanding balances as at balance sheet date with struck-off companies.
23 The Balances of Debtors, Creditors and Loans & Advances are subject to Confirmation and Reconciliation.
24 Previous year figures are regrouped wherever necessary.
|