p) Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources. Liabilities which are
material, and whose future outcome cannot be ascertained with reasonable certainty, are treated as contingent,
and disclosed by way of notes to the accounts.
Contingent Assets are neither recognized nor disclosed in the financial statement. Provisions, Contingent Liabilities
and Contingent Assets are reviewed at each Balance Sheet date.
q) Employee Benefits
Short Term Employee Benefits
Short term employee benefits are recognised as an expense at the undiscounted amount in the statement of
profit and loss of the year in which the related service is rendered.
Post-Employment Benefits
Defined Contribution Plans
A defined contribution plan is a post-employment benefit plan under which the Company pays specified
contributions to a separate entity. The Company makes specified monthly contributions towards Provident Fund
and Pension Scheme. The Company's contribution is recognised as an expense in the Statement of Profit and Loss
during the period in which the employee renders the related service. Payment to defined contribution retirement
benefit scheme, if any, is charged as expenses as they fall due.
Defined Benefit Plans
The Company pays gratuity to the employees whoever has completed five years of service with the Company at
the time of resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service
as per the Payment of Gratuity Act 1972. The gratuity liability amount is contributed to the approved scheme of LIC
formed exclusively for gratuity payment to the employees. The gratuity fund has been approved by respective IT
authorities.
The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit
Credit Method and spread over the period during which the benefit is expected to be derived from employees'
services.
Re-measurement of defined benefit plans in respect of post-employment are charged to the Other Comprehensive
Income.
r) Earnings per share
Basic earnings 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. For the purpose
of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders
and the weighted average number of equity shares outstanding during the period are adjusted for the effects of
all dilutive potential equity shares.
s) Claims Recoverable
The claims in respect of fixed assets lost during the process of drilling (lost in hole) are recognised on the basis
of invoices raised and correspondingly the depreciated value of the fixed assets lost in hole is charged off. Any
deductions made from the claims raised are recognised on receipt of intimation in respect of the same.
t) Prepaid Expenses
Prepaid expense is not recognised in cases where total amount spent is Rs. 10,000/- or less. Such expenses are
charged to statement of profit and loss.
u) Segment reporting:
Operating segments are those components of the business whose operating results are regularly reviewed by
the chief operating decision making body in the Company to make decisions for performance assessment and
resource allocation. The reporting of segment information is the same as provided to the management for the
purpose of the performance assessment and resource allocation to the segments.
v) Statement of cash flows:
Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities.
Cash flow from operating activities is reported using indirect method adjusting the net profit for the effects of:
i. changes during the period in inventories and operating receivables and payables, transactions of a non-cash
nature;
ii. non-cash items such as depreciation, provisions, and unrealised foreign currency gains and losses etc.; and
iii. all other items for which the cash effects are investing or financing cash flows.
Cash and cash equivalents comprise cash at banks and on hand, short-term deposits with an original maturity
of three months or less and liquid investments, which are subject to insignificant risk of changes in value.
w) Event Occurring after the Balance Sheet Date
Events occurring after the Balance Sheet Date and till the date on which the Financial Statement are approved,
which are material in the nature and indicate the need for adjustments are considered in the financial statement.
x) Key sources of estimation uncertainty and critical accounting judgements:
In the course of applying the policies outlined in all notes under point 2 below, the Company is required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and
underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognized in
the period in which the estimate is revised if the revision affects only that period, or in the period of the revision
and future period, if the revision affects current and future period.
Key sources of estimation uncertainty:
i) Useful lives of property, plant and equipment:
The useful lives of property, plant and equipment are reviewed at least once a year. Such lives are dependent
upon an assessment of both the technical lives of the assets, and also their likely economic lives based on vari¬
ous internal and external factors including relative efficiency, the operating conditions of the asset, anticipated
technological changes, historical trend of plant load factor, historical planned and scheduled maintenance. It
is possible that the estimates made based on existing experience are different from the actual outcomes and
could cause a material adjustment to the carrying amount of property, plant and equipment.
ii) Provisions and Contingencies:
In the normal course of business, contingent liabilities arise from litigations and claims. Potential liabilities that
are possible but not probable of crystallizing or are very difficult to quantify reliably are treated as contingent
liabilities. Such contingent liabilities are disclosed in the notes but are not recognized. Potential liabilities that
are remote are neither recognized nor disclosed as contingent liability. The management decides whether
the matters needs to be classified as‘ remote,' ‘possible' or ‘probable' based on expert advice, past judge¬
ments, terms of the contract, regulatory provisions etc.
iii) Fair value measurements:
When the fair values of financial assets or financial liabilities recorded or disclosed in the Financial Statements
cannot be measured based on quoted prices in active markets, their fair values are measured using valuation
techniques including the Discounted Cash Flows model. The inputs to these models are taken from observ¬
able markets where possible, but where this is not feasible, a degree of judgment is required in establishing
fair values. Judgements include consideration of inputs such as liquidity risk, credit risk and volatility.
iv) Income taxes:
Significant judgements are involved in determining the provision for income taxes, including amount expect¬
ed to be paid / recovered for uncertain tax positions. In assessing the realizability of deferred tax assets aris¬
ing from unused tax credits, the management considers convincing evidence about availability of sufficient
taxable income against which such unused tax credits can be utilized. The amount of the deferred income
tax assets considered realizable, however, could change if estimates of future taxable income changes in the
future.
v) Defined benefit plans:
The present value of defined benefit obligations are determined using actuarial valuations. An actuarial val¬
uation involves making various assumptions that may differ from actual development in the future. These
include the determination of the discount rate, future salary escalations and mortality rates etc. 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.
vi) Loss allowance assessment for a loan / guarantee given to subsidiary and a related party:
a] Assessment for loss allowance for a loan given to subsidiary involves assumptions relating to the valua¬
tion of it's underlying business. In considering the value in use, the Management has made assumption
relating to timing of resumption of commercial operations of mining activity, mineable reserves / re¬
sources, annual production, yield, future prices of coal, renewal of mining licenses, operational margins
and discount rate. Any subsequent changes in the assumptions could materially impact the carrying
value of the assets.
b] Recoverability of loans given to and fair value of financial guarantee given on behalf of, a related party
serving as a mine development operator for lignite mine of a joint venture entity is assessed on the basis
of projected cash flows derived on the presumption that it will continue as the operator having regard
to it being selected as the preferred bidder in the fresh competitive bidding process carried out as per
the regulator's direction, its net worth and other external and internal sources of information.
vii) Expected credit loss:
The measurement of expected credit loss on financial assets is based on the evaluation of collectability
and the management's judgement considering external and internal sources of information. A considerable
amount of judgement is required in assessing the ultimate realization of the loans having regard to, the past
collection history of each party and ongoing dealings with these parties, and assessment of their ability to pay
the debt on designated dates
VIII) Onerous contracts
A provision for onerous contracts is recognized when the expected benefits to be derived by the Company
from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provi¬
sion is measured at the present value of the lower of the expected cost of terminating the contract and the
expected net cost of continuing with the contract. Before a provision is established, the Company recognizes
any impairment loss on the assets associated with that contract.
Y) Standards Issued but not yet effective
The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issu¬
ance of the Company's financial statements are disclosed below. The Company will adopt this new and amended
standard, when it become effective.
i) Lack of exchangeability - Amendments to Ind AS 21
The Ministry of Corporate Affairs notified amendments to Ind AS 21 The Effects of Changes in Foreign Ex¬
change Rates to specify how an entity should assess whether a currency is exchangeable and how it should
determine a spot exchange rate when exchangeability is lacking. The amendments also require disclosure
of information that enables users of its financial statements to understand how the currency not being ex¬
changeable into the other currency affects, or is expected to affect, the entity's financial performance, finan¬
cial position and cash flows.
The amendments are not expected to have a material impact on the Company's financial statements.
ii) Recent Pronouncements :-
Ministry of Corporate Affairs (“MCA'') notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards] Rules as issued from time to time. For the year ended 31 March
2025, MCA has notified Ind AS 117 Insurance Contracts and amendments to Ind AS 116 Leases, relating to sale
and leaseback transactions, applicable to the Company w.e.f. 1 April 2024. The Company has reviewed the
new pronouncements and based on its evaluation has determined that it does not applicable to the Group.
z) Rounding of amounts
All amounts disclosed in the standalone financial statements and notes have been rounded off to the nearest lakhs
as per the requirement of Schedule III, unless otherwise stated.
Note 2: Estimates
The presentations of standalone financial statements is in conformity with the generally accepted accounting
principles which requires estimates and assumptions to be made that affect the reportable amount of assets
and liabilities on the date of financial statements and the reportable amount of revenue and expenses during the
reporting period. Differences between the actual results and estimates are recognised in the year in which the
results are known / materialized.
Note 30: Property, plant & equipment
The company adopted at initial and subsequent recognition of all of its property, plant and equipment at deemed
cost method. Refer note 1(b) for depreciation method used, depreciation rate and useful life of PPE. Refer note
3 for gross carrying value, accumulated depreciation value, additions, deletions, depreciation for the period and
other changes in PPE.
Property, Plant and Equipment are pledged/ hypothecated as collateral/security against the borrowings of the
company.
Note 31: Investment Property
Refer to Note 1(d) and Note 4 for method of depreciation used and carrying value of investment property. The
amounts recognised in profit or loss for investment properties is as under;
Estimation of fair value
The company is encouraged but not required to measure the fair value on the basis of a valuation done by an
independent valuer. The market for comparable properties is inactive and alternative measurements of fair value
based on discounted cash flow projections are not available. Hence the investment properties fair value taken at
its cost of acquisition as per management estimation.
Note 32: Other Intangible assets
Refer to Note 1(c) for useful lives, method of amortisation used. Refer to Note 5 for Gross carrying value, accumu¬
lated amortisation and reconciliation.
Note 33: Provisions, Commitments and Contingent liabilities / assets
(To the extent not provided for):
Note:
a] LC / Bank Guarantee issued by the banks are provided as contingent liability against the contractual / legal
performance of the company towards services being rendered to the customer. It is not predictable for the
company to estimate the timings of cash outflows in respect of above as no event occurred in the history of
the company.
b) Income Tax Status :-
From the assessment year 2006-07 to 2016-17, cases are pending before ITAT and for assessment year 2017-18
to 2019-20, 2021-22 and 2022-23 appeals are pending before CIT (Appeals). It is not predictable for the com¬
pany to estimate the timings of cash outflows in respect of above as it is determinable only on receipt of
judgement / decisions pending with various forums / authorities. The year wise demands details are as under;
Defined Benefit Plans
The Company pays gratuity to the employees whoever has completed five years of service with the Company at
the time of resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service
as per the Payment of Gratuity Act 1972. The gratuity liability amount is contributed to the approved scheme of LIC
formed exclusively for gratuity payment to the employees. The gratuity fund has been approved by respective IT
authorities.
Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company
is exposed to various risks as follow -
A) Salary Increases - Actual salary increases will increase the Plan's liability. Increase in salary increase rate
assumption in future valuations will also increase the liability.
B) Investment Risk - If Plan is funded then assets liabilities mismatch & actual investment return on assets
lower than the discount rate assumed at the last valuation date can impact the liability.
C) Discount Rate - Reduction in discount rate in subsequent valuations can increase the plan's liability.
D) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valu¬
ation can impact the liabilities.
E) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of
withdrawal rates at subsequent valuations can impact Plan's liability.
Foreign Currency Forward Contracts
The Company is having long term chartered hire income contract with ONGC. Since the service contract is under
international competitive bidding. The company receives revenue in USD. The company has hedged future re¬
ceivables by selling USD under the forward contracts.
The foreign currency forward contracts are designated as cash flow hedges and are entered into for periods
consistent with foreign currency exposure of the underlying transactions, generally within one year.
Outstanding notional amount for forward contracts is 230 Lakhs USD (Previous year 220 Lakhs USD ). The gain/(loss)
due to fluctuation in foreign currency exchange rates on derivative contract, recognized as Other Comprehensive
Income of Rs. 23.40 Lakhs (Previous year Income of Rs.383.64 Lakhs ).
Note 39 (A) : Trade Receivable, Loans & Advances & Trade Payable
[i] Trade Recoverable includes a sum of USD 14.77 Million (in Indian Rs. 6632.81 lakhs restated till 31.03.2011], which
is outstanding from ONGC Ltd for more than 7 Years. Since there has been no realization in this account, the
outstanding amount of USD has not been restated after 31.03.2011.
JDIL had a dispute with ONGC Ltd and this dispute was under litigation for last more than 15 years. In view of
Hon'ble Supreme Court of India order dated 27th April 2022, New Arbitration Tribunal [ Tribunal] was con¬
stituted to decide dispute of subsisting between JDIL and ONGC. Hon'ble Tribunal has pronounced the final
order on 03-04-2025. As per this order JDIL, respondent No2 has been ordered to be deleted from the array
of parties.
In view of the above said Award receivables of Rs 6632.81 lakhs, appearing in financial statements will be
adjusted against other financial liabilities and balance of Rs 10042.77 lakhs, shall be transferred to profit & loss
account. Meanwhile JDIL will take steps to get release the bank guarantee given for an amount of Rs. 166.25
crore already deposited by ONGC with JDIL, In terms of order dated 27th April 2022 of the Hon'ble Supreme
Court. Now in view of the order of Hon'ble tribunal order dated 3rd April 2025, JDIL will take financial impact
arising from this order in the next financial year. Meanwhile JDIL would be able to get the bank guarantee
released.
[ii] The Loan and advance includes ' 891.44 Lakhs relate to Marine Oil Gas Private Limited [MOGL] in respect of
which no realisation could be made. No interest income has been recognised since financial year 2011-12. The
Company has initiated legal proceeding for recovery of the same by filing a civil suit in Hon'ble Delhi High
Court in September 2013 against this company along with related persons and Ex-Managing Director of the
company. However in view of Ind As 113, the company has made a provision of full amount of Rs.891.44 Lakhs
in Financial Year 2020-21 under expected credit loss on MOGL loan.
(iii) Loans & Advances includes an interest free loan of Rs.518.00 Lakhs (Previous year Rs.518.00 Lakhs), paid to
Jindal Drilling & Industries Limited Employee Welfare Trust, which had been formed with the sole objective of
employee's welfare. The management is considering the same as good and fully recoverable.
Notes 39(B) Refurbishment Expenses Treatment
a) The company has entered into a lease contract for the unfurnished Jack up Rig - Jindal Star, effective from July
10th,2023, with a contract period of three years. The total refurbishment costs incurred amount to Rs. 111,32.68
lakhs, which includes Rs.3,708.31 lakhs carried forward from the 2022-2023 financial year and Rs.5,914.32 lakhs
spent in financial year 2023-24 and Rs.1,510.04 lakhs spent during the current year. These refurbishment ex¬
penses are to be amortized over the contract period. For the current year, Rs. 3,538.94 and Previous Year
Rs.2,138.91 lakhs have been charged to drilling operation expenses, while the remaining Rs.5,454.83 lakhs have
been classified partly under other non-current assets and partly under other current assets.
b) The company has incurred a total of Rs.9,041.62 lakhs on the refurbishment of the Jack up Rig - Discovery-1.This
amount includes Rs.3,767.34 lakhs brought forward from the financial year (2022-2023) and Rs.4,445.71 lakhs
spent in financial year 2023-24 and Rs. 828.57 lakhs spent during the current year. The refurbishment expenses
are to be amortized over a three-year contract period starting from May 23rd, 2023. During the current year,
Rs.2,970.51 lakhs and Previous year Rs.2,223.40 lakhs have been charged under drilling operation expenses.
The remaining Rs.3,847.71 lakhs have been classified partly under other non-current assets and partly under
other current assets.
c) The company has entered into a lease agreement for the unfurnished Jack up Rig - Virtue-1, effective Oc¬
tober 27th, 2023, with a contract period of three years. The total refurbishment costs amount to Rs.10,500.02
lakhs, which includes Rs.215.64 lakhs carried forward from the financial year (2022-2023) and Rs.8,328.37 lakhs
incurred in financial year 2023-24 and spent Rs. 1,956.01 during the current year. These refurbishment expenses
will be amortized over the contract period. For the current year, Rs. 3,139.44 and previous year Rs. 1,216.12 lakhs
have been charged to drilling operation expenses, while the remaining Rs. 6,144.47 lakhs have been classified
partly under other non-current assets and partly under other current assets.
Notes 39(C) Refurbishment on owned Rig - Treatment in Accounts
The company has incurred a total of Rs. 17,237.67 lakhs on the refurbishment of owned Rig, namely Jindal
Supreme. This cost incurred on account of refurbishment expenses has been capitalised in accordance with
Ind-AS -16 of jack-up Rig Jindal Supreme and this capitalised component of amount has been depreciated
over the contract period starting from 15th October 2024.Therefore, depreciation has been increased to Rs.
2517.18 lakhs and the same has decreased in operating expenses.
The primary objective of the Company's capital management is to ensure availability of funds at competitive cost
for its operational and development needs and maintain a strong credit rating and healthy capital ratios in order
to support its business and maximize shareholder value.
The Company manages its capital structure and makes changes in view of changing economic conditions. No
changes were made in the objectives, policies or process during the year ended 31.03.2025 and 31.03.2024. There
have been no breaches of the financial covenants of any interest bearing loans and borrowings for the reported
period.
The Company monitors capital structure on the basis of debt to equity ratio. For the purpose of Company's capital
management, equity includes paid up equity share capital and reserves and surplus and effective portion of cash
flow hedge and Debt comprises of long term borrowings including current maturities of these borrowings.
Fair Value Techniques:
The fair value of the financial assets and liabilities are included at the amount that would be received to sell an asset
or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
The following methods and assumptions were used to estimate the fair values:
a) . Fair value of cash and short term deposits, trade receivables, trade payables, non-current loans, other current
financial assets, short term borrowings and other current financial liabilities approximate to their carrying
amount largely due to the short term maturities of these instruments.
b) Long term fixed rate and variable rate receivables / borrowings are evaluated by the Company based on
parameters such as interest rate, specific country risk factors, credit risk and other risk characteristics. Fair value
of variable interest rate borrowings approximates their carrying values. For fixed interest rate borrowings fair
value is determined by using Discounted Cash Flow (DCF) method using discount rate that reflects the issuer's
borrowings rate. Risk of non-performance for the company is considered to be insignificant in valuation.
c) The fair value of derivatives are estimated by using pricing models, where the inputs to those models are
based on readily observable market parameters basis contractual terms, period to maturity and market pa¬
rameters such as interest rates, foreign exchange rates and volatility. These models do not contain a high level
of subjectivity as the valuation techniques used do not require significant judgement and inputs thereto are
readily observable from actively quoted market prices. Management has evaluated the credit and non-per¬
formance risks associated with its derivatives counterparties and believe them to be significant and warrant¬
ing a credit adjustment.
Fair Value Hierarchy
The following table provides the fair value measurement hierarchy of Company's asset and liabilities grouped into
Level 1 to Level 3 as described below:
Quoted prices / published Net Asset Value (NAV) in an active markets (Level 1): This level of hierarchy includes
financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets
or liabilities and financial instruments like mutual funds for which NAV is published by mutual funds. This category
consist mutual fund investments and equity share instrument of other companies / JV's.
Valuation techniques with observable inputs (Level 2): This level of hierarchy includes financial assets and liabilities,
measured using inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Valuation techniques with significant unobservable inputs (Level 3): This level of hierarchy includes financial assets
and liabilities measured using inputs that are not based on observable market data (that is, unobservable inputs).
Fair values are determined in whole or in part, using a valuation model based on assumption that are neither
supported by prices from observable current market transactions in the same instrument nor are they based on
available market data.
The following table provides the fair value measurement hierarchy of Company's asset and liabilities grouped into
Level 1 to Level 3 as described below:
Assets and Liabilities Measured at Fair Value (Accounted)
During the year ended 31.03.2025 and 31.03.2024, there were no transfers between Level 1 and level 2 fair value
measurements and no transfer into and out of Level 3 fair value measurements. There is no transaction/balance
under level 3.
The fair values of the financial assets and financial liabilities included in the level 2 categories above have been
determined in accordance with generally accepted pricing models based on a discounted cash flow analysis,
The company's activities expose it to market risk, liquidity risk and credit risk. In order to minimise any adverse effects
on the financial performance of the company, derivative financial instruments, such as foreign exchange forward
contracts are entered to hedge certain foreign currency risk exposures to hedge variable interest rate exposures.
Derivatives are used exclusively for hedging purposes and not as trading or speculative instruments. This note explains
the sources of risk which the entity is exposed to and how the entity manages the risk and the impact of hedge
accounting in the financial statements.
The company's risk management is carried out by a treasury department under policies approved by the board of
directors. Company treasury identifies, evaluates and hedges financial risks in close co-operation with the company's
operating units. The board provides written principles for overall risk management, as well as policies covering specific
areas, such as foreign exchange risk and credit risk, use of derivative financial instruments and non-derivative financial
instruments, and investment of excess liquidity.
Credit risk
Credit risk is the risk that the counter party will not meet its obligation under a financial instruments or customer contract,
leading to a financial loss. The Company is exposed to credit risk from its cash and cash equivalents, loans, investments
at amortised cost and deposits with banks and financial institutions, as well as credit exposures to customers including
outstanding receivables.
Credit Risk Management
Credit risk for banks and financial institutions, only high rated banks/institutions are accepted.
For other financial assets, the company assesses and manages credit risk based on internal credit rating system. The
finance function consists of a team who assess and maintain an internal credit rating system. The company assigns the
Liquidity risk
Liquidity risk is the risk that the company may not be able to meet its present and future cash and collateral
obligations without incurring unacceptable losses.
The Company monitors its risk to a shortage of funds using a recurring liquidity planning tool. This tool considers
the maturity of both its financial investments and financial assets (i.e. trade receivables, other financial assets) and
projected cash flows from operations. The Company's objective is to maintain a balance between continuity
of funding and flexibility through the use of working capital loans, letter of credit facility, bank loans and credit
purchases.
The bank cash credit facilities may be drawn at any time and may be terminated by the bank without notice. The
corporate loan facilities may be drawn at any time in INR and have an average maturity of 2 years.
Maturity profile of financial liabilities
The tables below analyse the company's financial liabilities into relevant maturity groupings based on their con¬
tractual maturities for all non-derivative and derivative financial liabilities, if any.
The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 1 to 5 year
and more equal their carrying balances as the impact of discounting is not significant.
Market risk is the risk that the fair value or future cash flow of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises two types of risk: currency rate risk and interest rate risk. Financial
instruments affected by market risk include loans and borrowings, deposits, investments and derivatives financial
instruments. Foreign currency risk is the risk that the fair value or future cash flows of financial instrument will fluctu¬
ate because of changes in foreign exchange rates. Interest rate risk is the risk that the fair value or future cash flows
of a financial instrument will fluctuate because of changes in market interest rates. This is based on the financial
assets and liabilities held as at 31.03.2025 and 31.03.2024.
Foreign currency risk exposure
The company exposure to foreign currency risk at the end of the reporting period expressed in INR, are as
follows;
The sensitivity analyses exclude the impact of movement in market variables on the carrying value of post-em¬
ployment benefit obligations, provisions and on non-financial assets and liabilities. The sensitivity of the relevant
statement of profit and loss item is the effect of the assumed changes in respective market rates. The company's
activities expose it to a variety of financial risk including the effect of changes in foreign currency exchange rates
and interest rates. The company uses derivatives financial instruments such as foreign exchange forward contracts
of varying maturity depending upon the underlying contract and risk management strategy to manage its expo¬
sures to foreign exchange fluctuation and interest rates.
Note 46: Operating leases
The Company has taken office premises on cancellable lease. These are cancellable and are renewable by mutual
consent on mutually agreed terms.
Note 47: Rounding off
Figures less than 500 have been shown at actuals wherever statutorily required to be disclosed, as the figures have
been rounded off to the nearest Lakhs.
Note 48: Collaterals
Inventory, Trade Receivables, Other Financial Assets, Property, Plant and Equipment are pledged/ hypothecated
as collateral/security against the borrowings of the company. (Please refer Note No. 18(1) & 20).
**The Company has transferred the unspent amount of Rs.182.13 lakhs previous year (Rs. 84.72 lakhs] in CSR unspent
accounts on 30th Apr 2025 in the State Bank of India for ongoing projects as per section 135(6].
Note 51: Miscellaneous
i] Dues to micro and small enterprises
Under the Micro, Small and Medium Enterprises Development Act, 2006, (MSMED] which came into force from
2nd October 2006, as amended on 1st June,2020, certain disclosures are required to be made relating to Micro,
Small and Medium enterprises. On the basis of the information and records available with the management,
the company owes 59.77 Lakhs (Previous Year 31.13 Lakhs] to Micro, Small and Medium Enterprises. However,
no interest during the year has been paid. in respect thereof but the amount of Rs NIL lakhs interest is accrued
and remains unpaid at the end of the accounting year.
ii] In the opinion of the Management and to the best of their knowledge and belief, the value of current assets,
loans and advances, if realised in the ordinary course of business would not be less than the amount at which
they are stated in the Balance Sheet.
iii] The company has been maintaining its books of accounts in the ERP which has feature of recording audit trail
of each and every transaction made in the account along with the date when such changes were made and
ensuring that the audit trail cannot be disabled throughout the year as required by proviso to sub rule (1] of
rule 3 of The Companies (Accounts] Rules, 2014 known as the Companies (Accounts] Amendment Rules, 2021.
Further audit trail of year has been preserved by the Company as per the statutory requirements for record
retention to the extent it was enabled and recorded in respected year.
iv] Previous year's figures have been re-grouped/ re-arranged/ re-classified wherever considered necessary.
v] Event Occurring after Balance Sheet Date
a] On 26th May 2025, the board of directors recommended a final dividend of ' 1.00 per equity share of ' 5 each
to be paid to the shareholder for the financial year 2024-25, which is subject to approval by the shareholders
at the Annual General Meeting to be held on 28 August 2025. If approved, the dividend would result in cash
outflow of Rs. 289.82 lakhs.
b] Status in Case of ONGC Ltd.-
Tribunal has pronounced the order on 3-4-25. As per this order JDIL, respondent No2 has been ordered to
be deleted from the array of parties. Now JDIL will approach to Hon'ble Mumbai High Court to release the
bank guarantee. Since the order is of 3rd April'25 JDIL would take the financial impact in next financial year,
meanwhile JDIL would be able to release bank guarantee from the court.
Note 52: Other Statutory Information
i] . The Company does not have any benami property, where any proceeding has been initiated or pending
against the Company for holding any benami property.
ii] The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
iii] 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:
[a] 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
[b] provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries
iv] . The Company does not have 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.
v] . The Company has complied 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.
vi] . The Company is not declared willful defaulter by and bank or financials institution or lender during the year
vii] The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
viii] . Quarterly returns or statements of current assets filed by the Company with banks or financial institutions are
in agreement with the books of accounts
ix] The Company has used the borrowings from banks and financial institutions for the specific purpose for which
it was obtained.
x] The title deeds of all the immovable properties, [other than immovable properties where the Company is
the lessee and the lease agreements are duly executed in favour of the Company] disclosed in the financial
statements included in property, plant and equipment and capital work-in progress are held in the name of
the Company as at the balance sheet date.
xi] The Company does not have material transactions with struck off companies during the financial year.
xii] The Company does not have any capital work in progress and intangible assets under development during
the financial year.
xiii] The Company has not revalued its Property, Plant and equipment, Intangible, tangible assets [including right
of use of assets] during the financial year.
The accompanying notes are an integral part of the Standalone Financial Statements.
Material accounting policies and notes on standalone financial statements
As per our report of even date For & on behalf of the Board of Directors
For Kanodia Sanyal & Associates RAGHAV JINDAL D.P. JINDAL
Chartered Accountants Managing Director Chairman
Firm's Registration No. 008396N DIN: 00405984 DIN: 00405579
Rajendra Kumar Kanodia P.N. VIJAY NARAYAN RAMASWAMY
Partner Director CEO
Membership No. 016121 DIN: 00049992 PAN: AAUPR3856R
Place: New Delhi PAWAN KUMAR RUSTAGI BINAYA KUMAR DASH
Date : 26th May, 2025 CFO Company Secretary
PAN: AACPR8012M ACS: 17982
Place: New Delhi
Date : 26th May, 2025
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