3.18 Provisions and contingencies
A provision is recognised in the standalone financial
statements where there exists a present obligation as
a result of a past event, the amount of which can be
reliably estimated, and it is probable that an outflow
of resources would be necessitated in order to settle
the obligation. If the effect of the time value of money
is material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the risks
specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is
recognised as a finance cost. Provisions are reviewed
at each balance sheet date and adjusted to reflect
the current best estimates. Contingent liabilities
are not recognised but are disclosed in the notes
unless the outflow of resources is considered to be
remote. Contingent assets are neither recognised
nor disclosed in the standalone financial statements.
3.19 Equity, reserves and dividend payments
Equity shares are classified as equity. Incremental
costs directly attributable to the issue of new shares
are shown in equity as a deduction, net of tax, from
the proceeds.
Retained earnings include current and prior period
retained profits. All transactions with owners of the
Company are recorded separately within equity.
Dividend payable to equity shareholders are
included in other liabilities when the dividends have
been approved in a general meeting prior to the
reporting date.
3.20 Earnings per share
Basic earnings or loss per share are calculated
by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted
average number of equity shares outstanding during
the period. The weighted average number of equity
shares outstanding during the period is adjusted
for events such as bonus issue, bonus element in
a rights issue, share split, and reverse share split
(consolidation of shares) that have changed the
number of equity shares outstanding, without a
corresponding change in resources.
For the purpose of calculating diluted earnings or
loss per share, the net profit or loss for the period
attributable to equity shareholders and the weighted
average number of shares outstanding during the
period are adjusted for the effects of all dilutive
potential equity shares.
3.21 Fair value measurement
The Company measures financial instruments such
as investments in mutual funds, investment in
certain equity shares etc. at fair value at each balance
sheet date.
Fair value is the price that would be received to
sell an asset or paid to transfer a liability at the
measurement date.
All assets and liabilities for which fair value is measured
or disclosed in the standalone financial statements
are categorised within the fair value hierarchy,
described as follows, based on the lowest level input
that is significant to the fair value measurement as
a whole:
• Level 1 — Quoted (unadjusted) market prices in
active markets for identical assets or liabilities
• Level 2 — Valuation techniques for which
the lowest level input that is significant to
the fair value measurement is directly or
indirectly observable
• Level 3 — Valuation techniques for which the
lowest level input that is significant to the fair
value measurement is unobservable.
For the purpose of fair value disclosures, the Company
has determined classes of assets and liabilities on
the basis of the nature, characteristics and risks of
the asset or liability and the level of the fair value
hierarchy as explained above.
3.22 Financial instruments
I. Financial assets
(a) Initial recognition and measurement
All financial assets are recognised initially at
fair value plus, in case of financial assets not
recorded at fair value through profit or loss,
transaction costs that are attributable to the
acquisition of the financial asset, which are not
at fair value through profit and loss, are added to
fair value on initial recognition. Transaction costs
of financial assets carried at fair value through
profit or loss are expensed in statement of profit
and loss. However, trade receivable that do not
contain a significant financing component are
measured at transaction price.
(b) Subsequent measurement
(i) Financial assets carried at amortised cost
A financial asset is subsequently measured
at amortised cost if it is held within a
business model whose objective is to hold
the asset in order to collect contractual
cash flows and the contractual terms of the
financial asset give rise on specified dates
to cash flows that are solely payments
of principal and interest on the principal
amount outstanding.
(ii) Financial assets at fair value through
other comprehensive income (FVTOCI)
A financial asset is subsequently measured
at fair value through other comprehensive
income if it is held within a business
model whose objective is achieved by
both collecting contractual cash flows and
selling financial assets and the contractual
terms of the financial asset give rise on
specified dates to cash flows that are solely
payments of principal and interest on the
principal amount outstanding.
(iii) Financial assets at fair value through
profit or loss (FVTPL)
A financial asset which is not classified in any
of the above categories are subsequently
fair valued through statement of profit
and loss.
(c) Impairment of financial assets
(i) The Company assesses on a forward¬
looking basis the expected credit losses
(ECL) associated with its assets measured
at amortised cost and assets measured at
fair value through other comprehensive
income. The impairment methodology
applied depends on whether there has been
a significant increase in credit risk. Note
39 details how the Company determines
whether there has been a significant
increase in credit risk.
(ii) Investments in subsidiaries, associates and
joint ventures are carried at cost/deemed
cost applied on transition to Ind AS, less
accumulated impairment losses, if any.
Where an indication of impairment exists, the
carrying amount of investment is assessed
and an impairment provision is recognised,
if required immediately to its recoverable
amount, being the higher of value in use or
fair value less costs to sell. On disposal of
such investments, difference between the
net disposal proceeds and carrying amount is
recognised in the statement of profit and loss.
(d) De-recognition of financial assets
A financial asset is derecognised when:
• The Company has transferred the right
to receive cash flows from the financial
assets or
• Retains the contractual rights to receive
the cash flows of the financial assets, but
assumes a contractual obligation to pay the
cash flows to one or more recipients.
Where the entity transfers the financial asset, it
evaluates the extent to which it retains the risk
and rewards of the ownership of the financial
assets. If the entity transfers substantially
all the risks and rewards of ownership of the
financial asset, the entity shall derecognise
the financial asset and recognise separately as
assets or liabilities any rights and obligations
created or retained in the transfer. If the entity
retains substantially all the risks and rewards of
ownership of the financial asset, the entity shall
continue to recognise the financial asset.
Where the entity has neither transferred a
financial asset nor retains substantially all risks
and rewards of the ownership of the financial
asset, the financial asset is derecognised if the
Company has not retained control of the financial
assets. Where the Company retains control
of the financial assets, the asset is continued
to be recognised to the extent of continuing
involvement in the financial asset.
II. Financial liabilities
(a) Initial recognition and subsequent
measurement
All financial liabilities are recognised initially at
fair value and in case of borrowings and payables,
net of directly attributable cost.
Financial liabilities are subsequently carried
at amortised cost using the effective interest
method. For trade and other payables maturing
within one year from the balance sheet date,
the carrying amounts approximate fair value
due to the short maturity of these instruments.
Changes in the amortised value of liability are
recorded as finance cost.
III. Fair value of financial instruments
In determining the fair value of its financial
instruments, the Company uses a variety of methods
and assumptions that are based on market conditions
and risks existing at each reporting date. The methods
used to determine fair value include discounted
cash flow analysis, available quoted market prices.
All methods of assessing fair value result in general
approximation of value, and such value may vary
from actual realisation on future date.
IV. Offsetting of financial instruments
Financial assets and financial liabilities are offset and
the net amount is reported in the balance sheet if
there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle
the liabilities simultaneously.
3.23 Derivative financial instruments
The Company enters into a variety of derivative
financial instruments to manage its exposure to
interest rate and foreign exchange rate risks, including
foreign exchange forward contracts, interest rate
swaps and cross currency swaps.
Derivatives are initially recognised at fair value at the
date the derivative contracts are entered into and
are subsequently re-measured to their fair value at
the end of each reporting period. The resulting gain
or loss is recognised in statement of profit and loss
immediately unless the derivative is designated and
effective as a hedging instrument, in which event
the timing of the recognition in the statement of
profit and loss depends on the nature of the hedging
relationship and the nature of the hedged item.
3.24 Significant accounting judgements, estimates
and assumptions
The preparation of the Company's standalone financial
statements requires management to make judgements,
estimates and assumptions that affect the reported
amounts of revenues, expenses, assets and liabilities,
and the accompanying disclosures, and the disclosure
of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes
that require a material adjustment to the carrying
amount of assets or liabilities affected in future periods.
Estimates and assumptions
The key assumptions concerning the future and other
key sources of estimation uncertainty at the reporting
date, that have a significant risk of causing a material
adjustment to the carrying amounts of assets and
liabilities within the next financial year, are described
below. The Company based its assumptions
and estimates on parameters available when the
standalone financial statements were prepared.
Existing circumstances and assumptions about future
developments, however, may change due to market
changes or circumstances arising that are beyond the
control of the Company. Such changes are reflected
in the assumptions when they occur.
(i) Estimation of defined benefit obligation
The cost of the defined benefit plan and other
post-employment benefits and the present
value of such obligation are determined using
actuarial valuations. An actuarial valuation
involves making various assumptions that may
differ from actual developments in the future.
These include the determination of the discount
rate, future salary increases, mortality rates and
attrition rate. Due to the complexities involved in
the valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes
in these assumptions. All assumptions are
reviewed at each reporting date.
(ii) Estimation of current tax and deferred tax
Management judgement is required for the
calculation of provision for income - taxes and
deferred tax assets and liabilities. The Company
reviews at each balance sheet date the carrying
amount of deferred tax assets. The factors used
in estimates may differ from actual outcome
which could lead to adjustment to the amounts
reported in the standalone financial statements.
(iii) Useful lives of depreciable assets
Management reviews its estimate of the useful
lives of depreciable assets at each reporting
date, based on the expected utility of the assets.
Uncertainties in these estimates relate to
technological obsolescence that may change the
utility of certain property, plant and equipment.
(iv) Impairment of trade receivables
Trade receivables do not carry any interest and
are stated at their normal value as reduced
by appropriate allowances for estimated
irrecoverable amounts. Individual trade
receivables are written off when management
deems them not to be collectible. Impairment is
recognised based on the expected credit losses,
which are the present value of the cash shortfall
over the expected life of the financial assets.
(v) Fair value measurement
Management uses valuation techniques to
determine the fair value of financial instruments
(where active market quotes are not available) and
non-financial assets. This involves developing
estimates and assumptions consistent with
how market participants would price the
instrument. Management bases its assumptions
on observable data as far as possible but this is
not always available. In that case management
uses the best information available. Estimated
fair values may vary from the actual prices that
would be achieved in an arm's length transaction
at the reporting date (refer note 39).
(vi) Impairment of Goodwill
Goodwill is tested for impairment on an annual
basis and whenever there is an indication that
the recoverable amount of a cash generating
unit is less than its carrying amount based on a
number of factors including operating results,
business plans, future cash flows and economic
conditions. The recoverable amount of cash
generating units is determined based on higher
of value-in-use and fair value less cost to sell.
The goodwill impairment test is performed at
the level of the cash-generating unit or groups
of cash-generating units which are benefitting
from the synergies of the acquisition and which
represents the lowest level at which goodwill is
monitored for internal management purposes.
Market related information and estimates are
used to determine the recoverable amount. Key
assumptions on which management has based
its determination of recoverable amount include
estimated long-term growth rates, weighted
average cost of capital and estimated operating
margins. Cash flow projections take into account
past experience and represent management's
best estimate about future developments.
NOTE 39 - FINANCIAL INSTRUMENTS AND RISK REVIEW
Capital management
The Company manages its capital to be able to continue as a going concern while maximising the returns to shareholders
through optimisation of the debt and equity balance. The capital structure consists of debt which includes the borrowings
as disclosed in note 18 & 24 and net off cash and cash equivalents as disclosed in note 12 and equity attributable to
equity holders of the Company, comprising issued share capital, reserves and retained earnings as disclosed in the
Statement of changes in equity. For the purpose of calculating gearing ratio, debt is defined as non current and current
borrowings (excluding derivatives). Equity includes all capital and reserves of the Company attributable to equity
holders of the Company. The Company is not subject to externally imposed capital requirements. The Board reviews
the capital structure and cost of capital on an annual basis but has not set specific targets for gearing ratios. The risks
associated with each class of capital are also considered as part of the risk reviews presented to the Audit Committee
and the Board of Directors.
NOTE 39 - FINANCIAL INSTRUMENTS AND RISK REVIEW (Contd.)
Financial risk management objective
The Company is exposed to various risks in relation to financial instruments. The main types of risks are market risk,
credit risk and liquidity risk. The Company is not engaged in speculative treasury activities but seeks to manage risk and
optimise interest and commodity pricing through proven financial instruments.
The use of any derivative is approved by the management, which provide guidelines on the acceptable levels of interest
rate risk, credit risk, foreign exchange risk and liquidity risk and the range of hedging requirement against these risks.
Credit risk:
Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract,
leading to financial loss. The Company is exposed to credit risk for receivables, cash and cash equivalents, short-term
investments, financial guarantee and derivative financial instruments.
Cash and cash equivalents and short-term investments
The Company considers factors such as track record, size of institution, market reputation and service standard to
select the banks with which deposits are maintained. Generally the balances are maintained with the institutions with
which the Company has also availed borrowings. The Company does not maintain significant deposit balances other
than those required for its day to day operations.
Trade receivables
The Company extends credits to customer in normal course of the business. The Company considers the factors such
as credit track record in the market of each customer and past dealings for extension of credit to the customer. The
Company monitors the payment track record of each customer and outstanding customer receivables are regularly
monitored. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers
are located at several jurisdiction and industries and operate in large independent markets. The Company also takes
advances and security deposits from customers which mitigate the credit risk to an extent.
The average credit period taken on sales of goods is 30 to 90 days. Generally, no interest has been charged on
the receivables. Allowances against doubtful debts are recognised against trade receivables based on estimated
irrecoverable amounts determined by reference to past default experience of the counterparty and an analysis of the
counterparty's current financial position.
Before accepting any new customer, the Company uses an internal credit system to assess the potential customer's
credit quality and defines credit limits by customer. Limits attributed to customers are reviewed periodically. There are
two customers who represent more than 10 per cent of total net revenue from operations.
Expected credit loss:
The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables
based on a provision matrix. The provision matrix takes into account historical credit loss experience and adjusted for
forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are
due and the rates as given in the provision matrix. The provision matrix at the end of the reporting period is as follows:
Liquidity risk:
Liquidity risk reflects the risk that the Company will have insufficient resources to meet its financial liabilities as they
fall due.
The Company's objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements. The
Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds.
The current committed lines of credit are sufficient to meet its short to medium term expansion needs. The Company
monitors rolling forecasts of its liquidity requirements to ensure that it has sufficient cash to meet operational needs
while maintaining sufficient headroom on its undrawn committed borrowing facilities so that it does not breach
borrowing limits.
The table below provides undiscounted cash flows towards non-derivative financial liabilities into relevant maturity
based on the remaining period at the balance sheet date to the contractual maturity date and, where applicable, their
effective interest rates.
Market risk
The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and
interest rates. The Company enters into a variety of derivative financial instruments to manage its exposure to foreign
currency risk, including:
Forward foreign exchange contract to hedge the exchange rate risk arising on the export of its products.
Currency risk
The Company undertakes various transactions denominated in foreign currencies, consequently, exposure to exchange
rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters utilising forward
foreign exchange contracts.
The Company transacts business primarily in Indian Rupee, USD, EUR. The Company has foreign currency payables
and receivables and is therefore, exposed to foreign exchange risk. Certain transactions of the Company act as a
natural hedge as a portion of both assets and liabilities are denominated in similar foreign currencies. For the remaining
exposure to foreign exchange risk, the Company adopted a policy of selective hedging based on risk perception of
the management.
The carrying amounts of the Company's foreign currency denominated monetary assets and monetary liabilities at the
end of the reporting period are as follows:
NOTE 40 - EMPLOYEE BENEFITS
(A) Defined contribution plan
The Company operates defined contribution retirement benefit plans for all employees. The Provident Fund
contributions are made to Regional Provident Fund, the Company has no further obligations beyond its
monthly contributions.
The Company's contribution to Provident Fund and Superannuation Fund aggregating to H 197.76 lakh (previous year
H 242.34 lakh) has been recognised in the Statement of Profit and Loss under the head Employee Benefits Expense.
(B) Defined benefit plans
Gratuity
The Company operates a gratuity plan covering qualifying employees. The benefit payable is the greater of the
amount calculated as per the Payment of Gratuity Act, 1972 or the Company Scheme applicable to the employee.
The benefit vests upon completion of five years of continuous service and once vested it is payable to employees
on retirement or on termination of employment. In case of death while in service, the gratuity is payable irrespective
of vesting. The Company makes annual contribution to the group gratuity Scheme administered by the Birla Sun
Life Insurance Company Limited.
NOTE 47 - CORPORATE SOCIAL RESPONSIBILITY
In the absence of average net profit calculated under Section 198 of the Companies Act, 2013 during the immediately
preceding three years there is no obligation to spend on CSR activities under Section 135 of Companies Act, 2013
NOTE 48 - LEASES
The company recorded the lease liability at the present value of the future lease payments discounted at the incremental
borrowing rate and the right of use asset.
Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease
transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All
other leases are classified as operating leases. For operating leases, rental income is recognised on a straight-line basis
over the term of the relevant lease.
(a) The Board of Directors in its meeting held on 28th May 2024 had decided to discontinue the Retail Business (the
'RB') the approval for sale/liquidation of assets of RB, the preliminary financial impact of same was recognized in
the quarter and year ended 31st March 2024 and in subsequent quarters as and when occurred. The Company is
continuing the process of sale/liquidation of assets of RB and any further impact if any, will be accounted for in the
respective period as and when occurred/assessed. As a result, segment reporting has been reorganized/restated
and RB have been merged and treated as part of the "Consumer Appliances Business" for current period and
accordingly in the corresponding figures in the previous year /periods.
(b) In the Standalone Financial Statements of the company, assets and liabilities of Retail business have been disclosed
as held for sale and disclosed separately in the Balance Sheet as at March 31, 2025 as "Group of assets classified
as held for sale" and "Liabilities associated with the group of assets classified as held for sale" respectively. As
mandated by Indian Accounting Standard (Ind AS) 105 Asset Held for Sale and Discontinued Operations ("Ind AS
105"), assets and liabilities has not been reclassified or re-presented for prior period i.e. year ended March 31, 2024.
(c) The net results of Retail business have been disclosed separately as discontinued operation as required by Ind
AS 105. Consequently, the Company's Statement of Profit and Loss for the year ended March 31, 2025 presented
pertains to its continuing operations only and for that purpose the Statement of Profit and Loss for the year ended
March 31, 2024 has been restated accordingly.
NOTE 54 - SOCIAL SECURITY CODE
The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment
benefits received Indian Parliament's approval and Presidential assent in September 2020. The Code has been
published in the Gazette of India and subsequently, on November 13, 2020, draft rules were published and stakeholders'
suggestions were invited. However, the date on which the Code will come into effect has not been notified. The
Company will assess the impact of the Code when it comes into effect and will record any related impact in the period
the Code becomes effective.
NOTE 55 - DIVIDEND
The Board of Directors have recommended a Nil dividend (previous year H 0.40 /-) on equity share of H 2 /- each for the
year ended 31st March 2025.
NOTE 56 - GST
The annual return of GST for FY 2024-25 is under process of filing with statutory authorities. The management believes
that there will not be any material impact over financial statements after financial submission/filing. The date of filing of
GST returns are 31st December, 2025.
(a) The Committee of Directors (Rights Issue) at its meeting held on October 18, 2024, has inter alia considered and approved
the rights issue of 1,13,49,962 fully paid-up Equity Shares of Rights issue price of H 220 per equity share [including a
premium of H 218 per Equity Share] on Rights basis to the eligible equity shareholders in the ratio of 119 rights equity
shares for every 758 equity shares held by the eligible equity shareholder for amount aggregating up to H 24,969.92 lakh.
Further, 1,13,49,962 equity shares were allotted by the Company on November 28, 2024 and accordingly, basic and
diluted EPS for the year ended March 31, 2024 has been retrospectively adjusted for the bonus element in rights issue.
NOTE 58
The Company had incorporated a wholly owned subsidiary by the name of "HHIL Limited" on 4th March 2025 and
subscribed for 50,00,000 equity shares of H 2 each of HHIL Limited during the year ended 31st March 2025.
NOTE 59 EXCEPTIONAL ITEM
During the year ended 31st March 2025, the Company has infused H 1700.00 lakh in Hintastica Private Limited ("HPL"), on a
rights basis by subscribing to an additional 1,25,926 nos equity shares of H 10 each at a premium of H 1,340 per share. On
31st March 2025, the Company restated value/measured its investment in the HPL (JV) based on an independent valuation
report and recognized/provided an impairment loss of H 611.51 lakh in Standalone Financial Statements of the company
under "Exceptional Items".
NOTE 60 - SCHEME OF ARRANGEMENT
The Board of Directors of the Company, in its meeting held on 27th March 2025 had approved a Composite Scheme
of Arrangement (the "Scheme") under Section 230 to 232, read with Section 66 and other applicable provisions of the
Companies Act 2013 and the provisions of other applicable laws, amongst the Company (the "Demerged Company/
Remaining Transferor Company"), Hindware Limited ("Transferee Company") and HHIL Limited ("Resulting Company")
and their respective shareholders and creditors. The Scheme provides for the demerger of the Consumer Products
Business of the Demerged Company and the amalgamation of the Remaining Transferor Company (as defined in the
Scheme) with and into Transferee Company. The Appointed Date for the Scheme is 1st April 2025, or such other date as
may be mutually agreed by the respective Board of the Companies or any such date approved by the Hon'ble National
Company Law Tribunal ("NCLT") or any other competent authority. The Scheme is subject to the approval of the BSE
Limited, the National Stock Exchange of India Limited, SEBI, shareholders and creditors of the Company and such other
necessary approvals as may be required, and the sanction thereof of the Scheme by NCLT. The Company has applied
to BSE Limited and the National Stock Exchange for requisite approval of the Scheme and the approvals are awaited.
The Company has a widely used ERP as its accounting software for maintaining its books of account during the year
ended 31st March 2025, which has a feature of recording audit trail (edit log) facility and the same has been operated
throughout the year except (a) at database level the audit trail has not been enabled, (b) at application the audit trail
was disabled from 02nd December 2024 to 09th December 2024 due to upgradation of SAP accounting software, and
(c) the audit trail feature was not enabled on certain relevant financial tables and privileged access to specific users to
make direct changes to audit trail settings. Further, the audit trail, to the extent maintained in the prior year, has been
preserved by the Company as per the statutory requirements for record retention.
NOTE 62 - OTHER DISCLOSURES
(a) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies
beyond the statutory period
(b) The Company has not traded or invested in crypto currency or virtual currency during the financial year
(c) There are no loans or advances in the nature of loans granted to Promoters, Directors, KMPs and their related
parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are: (a)
repayable on demand; or (b) without specifying any terms or period of repayment
(d) The Company has complied with the requirements of the number of layers prescribed under clause (87) of Section 2
of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017
(e) The Company does not have any benami property held in its name. No proceedings have been initiated on or are
pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988
(45 to 1988) and Rules made thereunder
(f) The Company has not been declared as wilful defaulter by any bank or financial institution or other lender or
government or any government authority
(g) Utilisation of borrowed funds and share premium
I. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding 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
II. 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 persons or 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 to or on behalf of the ultimate beneficiaries
(h) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax
Act, 1961 (such as search or survey), that has not been recorded in the books of account.
NOTE 63
Previous period figures have been regrouped /re-arranged wherever considered necessary to confirm to the current
year's classification.
As per our report of even date attached For and on behalf of the Board of Directors
For Lodha & CO LLP G.L. Sultania Sandip Somany
Chartered Accountants Director Chairman
Firm Registration No.: 301051E/E300284 DIN: 00060931 DIN: 00053597
Shyamal Kumar Payal M Puri Naveen Malik
Partner Company Secretary Chief Executive Officer and
M. No. 509325 ACS No.: 16068 Chief Financial Officer
Place : Gurugram Place : Gurugram
Date: 24 May 2025 Date: 24 May 2025
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