(ix) Provisions and contingencies:
Provisions: A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of time value of money is material).
Contingent liabilities: Contingent liabilities are not recognized but are disclosed in notes to accounts.
(x) Cash and cash equivalents:
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short term balances (with an original maturity of three months or less from the date of acquisition) and highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.
For the purposes of the cash flow statement, cash and cash equivalents include cash on hand, in banks and demand deposits with banks, net of outstanding bank overdrafts that are repayable on demand, book overdraft and are considered part of the Company’s cash management system.
(xi) Earnings per share (EPS):
Basic earnings per share are computed using the weighted average number of equity shares outstanding during the period. Diluted EPS is computed by dividing the profit or loss attributable to ordinary equity holders by the weighted average number of equity shares considered for deriving basic EPS and also weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted for bonus shares, as appropriate.
(xii) Related Party Disclosure:
List of related parties where control exists and also related parties with whom transactions have taken place and relationships, has been disclosed in Annexure - 1 to the Notes to Accounts.
For and on behalf of the board of directors As per our attached report of even date
For, Danube Industries Limited For, V S S B & Associates
Chartered Accountants Firm No. 121356W
Meena Sunil Rajdev Sunil Rajdev (Vishves A. Shah)
Chairperson/Managing Director CFO (Partner)
(DIN: 08060219) M No:-109944
UDIN: 24109944BKACRQ7380
Kajal Garg Company Secretary Mem. No.: A64229
Place : Ahmedabad Place : Ahmedabad
Date : 21/05/2024 Date : 21/05/2024
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