3.23 Provisions, Contingent Liabilities & Commitments and Contingent assets -
Provisions in respect of present obligations arising out of past events are made in accounts when reliable estimates
can be made of the amounts of obligations. Provisions are not discounted to their present value and reviewed at each
reporting date. Contingent liabilities & commitments are not accounted but disclosed separately. Contingent assets are
neither accounted nor disclosed in the financial statements.
3.24 Contingencies and events occurring after the Balance Sheet date -
The existence and nature of the contingency is disclosed separately. In case where the potential loss to an enterprise
can be reduced or avoided because a contingent liability is matched by a related counterclaim, the amount of the
provision on account of contingent liability is determined after taking into account the probable counterclaim if no
significant uncertainty as to its measurability or collectability exists.
The existence and amount of guarantees, obligations arising from discounted bills of exchange and similar obligations
undertaken by an enterprise have been disclosed in financial statements by way of notes.
3.25 Net profit or loss for the period, prior period items and changes in accounting policies -
Profit or loss from ordinary activities & extraordinary items have been disclosed on the face of the statement of profit
and loss. Extraordinary items have been disclosed in the statement of profit and loss as part of net profit or loss for the
period & the nature and the amount of each extraordinary item have been separately disclosed.
The nature and the amount of a change in an accounting estimate which has a material effect in the current period &
subsequent period have been disclosed or if it is impracticable to quantify the amount, that fact has been disclosed.
3.26 Discontinuing operations
The discontinuing operations include such operations which are discontinued pursuant to single plan or which represent
major segment, or which can be distinguished operationally or financially. The Company has not discontinued any of its
operations during the year.
3.27 Interim financial reporting
Interim Financial Reporting is applicable to the Company as per SEBI rules. The Company gives condensed set of
the financial statements in the interim reporting which includes Balance Sheet, Statement of Profit & Loss, Cash flow
statement, notes and other explanatory material & Comments about seasonality of interim operations - if any.
In case of Balance Sheet, the period covered is end of current interim period & comparative Balance Sheet as at the
end of immediately preceding financial year.
In case of Statement of Profit & Loss, the period covered is current interim period, cumulative for current financial
year to date, comparative Profit & Loss for the comparable interim period of immediately preceding financial year &
comparative year to date Profit & Loss of immediately preceding financial year.
In case of cash flow statement, the period covered is current financial year to date & comparative statement for the
comparable year to date period of immediately preceding financial year.
Nature of CSR activities
1. Gross amount required to be spent as per section 135 of the Companies Act, 2013 - Rs. 14.56 lakhs (P.Y. Rs. 11.83 lakhs)
2. Excess expenditure incurred in earlier years set off against current year - Rs. 0.44 lakhs (P.Y. Rs. 3.27 lakhs). Balance amount
available for set off in subsequent years - Rs. 0.38 lakhs (P.Y. Rs. 0.44 lakhs).
3. Rs. 1 lakh donation given to Saad Foundation and Rs. 13.50 lakhs paid to Dashmesh Soceity.
43 Other Regulatory Disclosures as per the Companies Act, 2013
1. The Company does not have any Benami property, where any proceeding has been initiated or pending against the company
for holding any Benami property.
2. The Company has not been declared as wilful defaulter by any bank or financial institution or any other lender.
3. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013.
4. The company does not have any subsidiaries and hence compliance with the number of layers prescribed under clause (87)
of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not attracted.
5. The Company has not entered into any scheme of arrangements.
6. Loans/advances/investment out of borrowed fund/share premium/any other source of fund, to any person, including foreign
entity, with intention of further investment/loan/guarantee/security on behalf of the Company - Nil
7. Amount received by the Company as Loans/advances/investment, from any person, including foreign entity, with intention of
further investment/loan/guarantee/security on behalf of the such funding party - Nil
8. The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered
or disclosed as income during the year (previous 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.
9. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year
44 Segment Reporting
1. Though the Company has two business segments namely, distillery division and potash division, the turnover of potash
division is less than 10% of the total turnover. Hence, segment reporting for business segment as primary segment is not
required to be disclosed.
2. In terms of secondary segment being geographical segment, separate disclosure is not required as the turnover of exports is
less than 10% of the total turnover.
For and on behalf of the Board
For HMA & Associates
Chartered Accountants
Firm's Registration Nl°. 100537W Dharampal K. Kalani Amardeepsingh T. Sethi
Managing Director Wholetime Director
DIN - 00041021 DIN - 00097644
CA Anand D. Joshi
Partner Uday B. Hemade CS. Komal Shendge
embers ip o. 3805 Chief Financial Officer Company Secretary
UDIN: 23113805BGWGDH8212
D1^ 2023 Place: Pune
Date: 27 May 2023 Date: 27 May 2023
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