Provisions, Contingent Liabilities and Contingent
k Assets
Provisions are recognised for when the Company has at present, legal or contractual obligation as a result
of past events, only if it is probable that an outflow of resources embodying economic outgo or loss will be
required and if the amount involved can be measured reliably.
Contingent liabilities being a possible obligation as a result of past events, the existence of which will be
confirmed only by the occurrence or non occurrence of one or more future events not wholly in control of
the Company are not recognised in the accounts. The nature of such liabilities and an estimate of its
financial effect are disclosed in notes to the financial statements.
Contingent assets are not recognised in the financial statements. The nature of such assets and an estimate
of its financial effect are disclosed in notes to the financial statements.
I Revenue recognition
Revenue is recognised on the delivery of goods. Revenue is reported net of discount. Revenue in case of
sale of services are recognised on the basis of performance of service.
Interest Income is recognised on a time proportion basis taking into account the amount outstanding and
the rate applicable.
Employee Benefit
m Expense
Post-employment benefit plans
Contributions to defined contribution retirement benefit schemes are recognised as expense when
employees have rendered services entitling them to such benefits.
For defined benefit schemes, the cost of providing benefits is determined using the Projected Unit Credit
Method, with actuarial valuations being carried out at each balance sheet date. Actuarial gains and losses
are recognised in full in the statement of profit and loss for the period in which they occur. Past service cost
is recognised immediately to the extent that the benefits are already vested, or amortised on a straight-line
basis over the average period until the benefits become vested.
a) Provident Fund :
Provident Fund is a defined contribution scheme as the company pays fixed contribution at pre¬
determined rates. The obligation of the company is limited to such fixed Contribution. The Contributions
are charged to Profit and Loss Statement.
b) Gratuity :
The Management has decided to apply pay-as-you-go method of gratuity provision. So gratuity will be
accounted in the Profit and Loss A/c in the financial year in which the employee retires and Provision will
not be made on yearly basis and charged to the Profit and Loss statement on the basis of actual payment.
c) Leave Encashment:
The Management has decided to apply pay-as-you-go method for payment of leave encashment. So leave
encashment will be accounted in the Profit and Loss A/c in the financial year in which the employee
retires and Provision will not be made on yearly basis and charged to the profit and loss statement on the
basis of actual payment.
The retirement benefit obligation recognised in the balance sheet represents the present value of the
defined benefit obligation as adjusted for unrecognised past service cost, and as reduced by the fair value
of scheme assets. Any asset resulting from this calculation is limited to the present value of available
refunds and reductions in future contributions to the scheme.
Other employee benefits
The undiscounted amount of short-term employee benefits expected to be paid in exchange forthe services
rendered by employees is recognised during the period when the employee renders the service. These
benefits include compensated absences such as paid annual leave, overseas social security contributions
and performance incentives.
Compensated absences which are not expected to occur within twelve months after the end of the period
in which the employee renders the related services are recognised as an actuarially determined liability at
the present value of the defined benefit obligation at the balance sheet date.
Foreign currency
n transactions
Income and expense in foreign currencies are converted at exchange rates prevailing on the date of the
transaction. Foreign currency monetary assets and liabilities other than net investments in non-integral
foreign operations are translated at the exchange rate prevailing on the balance sheet date and exchange
gains and losses are recognised in the statement of profit and loss. Exchange difference arising on a
monetary item that, in substance, forms part of an enterprise's net investments in a non-integral foreign
operation are accumulated in a foreign currency translation reserve.
Taxatio
o n
Current income tax expense comprises taxes on income from operations in India and in foreign jurisdictions.
Income tax payable in India is determined in accordance with the provisions of the Income Tax Act, 1961.
Tax expense relating to foreign operations is determined in accordance with tax laws applicable in countries
where such operations are domiciled.
Deferred tax expense or benefit is recognised on timing differences being the difference between taxable
income and accounting income that originate in one period and is likely to reverse in one or more
subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that
have been enacted or substantively enacted by the balance sheet date.
Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting
advance tax paid and income tax provision arising in the same tax jurisdiction for relevant tax paying units
and where the Company is able to and intends to settle the asset and liability on a net basis.
The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable right and
these relate to taxes on income levied by the same governing taxation laws.
Earnings Per
p Share
Basic earning per share is computed 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. Diluted
earning per share is computed by taking into account the weighted average number of equity shares
outstanding during the period and the weighted average number of equity shares which would be issued
on conversion of all dilutive potential equity shares into equity shares.
Event After Reporting
q Date
When events occurring after the balancesheet date provide evidence of condition that existed at the end
of the reporting period, the impact of such events is adjusted within the standalone financial statements.
Otherwise, events after the balancesheet date of material size or nature are only disclosed.
r Investments
Long term investments are stated at cost. Provision for diminution in the value of long term investment is
made only if such decline is other than temporary.
Current Investments are stated at lower of cost or marlet value. The determination of carrying amount of
such investment is done on the baisis of specific identification.
(I) The A/c 005151000007 with ICICI - sanctioned CC limit of Rs. 8,95,00,000/- and 4,25,00,000/- Bank
Guarantee the said credit limit is primarily secured by Hypothecation of Book Debts & Stock (present & future
also) as well as irrevocable personal guarantee of directors and Immovable Fixed Assets of Directors of the
company namely Jay Bajarang Mani and Seema Mani.
(II) Exclusive charge by way of equitable mortgage in a form and manner satisfactory to the bank, on the
proprieties as described in the details and having aggregate value of Rs. 50.84 Million being used as
industrial/commercial/residential property point wise:
(i) Industrial Plot No. 11, Maruti Udyog Nagar, Opp. Reliance Township, Nr. BSNL Tower, Off Khambhaliya
Meghpar, Jamnagar 361001 2.76 Million.
(ii) Industrial Plot No. 12 Maruti Udyog Nagar, Nr Reliance Refinary, Jamnagar Khambhaliya Road, Village
Meghapar, Jamnagar - 361001 7.22 Million.
(iii) Industrial Plot No. 50 & 54, New Padana, Nr. Murlidhar Hotel, Sir P N marg, Tal. Lalpur Dist Jamnagar 20.95
Million.
(iv) Industrial Opp. Essar Power House, Village Vadalia Sihan, Tal. Jam Khambhaliay Dist. Devbhoomi Dwarka
Value Taken as Zero.
(v) Residential Plot No. 454, RS no. 169 P 2, Ravi park Township Opp. Nilkanth Park, Dhichada jamangar 361
0016.32 Million.
(vi) Residential Land Plot No. 453, RS no. 169 P2, Ravi Park Township, Opp. Nilkanth Park, Dhichada, Jamangar
361001 Value 3.13 Million.
(vii) Commercial Shop No. G 2, Snehdeep Residency, Nr. Digjam Circle, Aerodarome Road Jamnagar - 361001
Value 3.37 Million.
(viii) Commercial Shop No. G 3 Snehdeep Residency, Nr. Digjam Circle, Aerodramoe Road Jamagar - 361001
Value 3.58 Million.
(ix) Residential plus Commercial Flat no. 101, 1st Floor, Snehdeep Residency, Nr. Digjam Circle Aerodrome
Road, jamnagar 361 001 value Rs. 2.73 Million.
(x) Commercial Shop No. 102, 1st Floor, Vachharaj Complex, Vill. Jogvad, Khambhaliya, Higway, Jamangar
value 0.78 Million.
(xi) Padana R. S. No 158 Plot No.169, Nr Krushna Hotel, Off Padana main Road, At Padna Lalpur
Road,Jamnagar, Gujarat -361280
(xii) Padana R.S. No. 148,149 and 150, Plot No 51, Nr Sunrise Day School, off Padana Main Road, 51, Lalpur
Road, Jamnagar Gujarat-361001
(xiii) R.S. No. 4/1 Paiki, Plot No.lO/A, Meghpur, Maruti Udhoy Nagar, Nr BSNL Tower off to Jamnagar
Khambhaliya Highway, Jamnagar-361001
No Loans or advances are granted to Promoters, Directors, KMPs and the related parties (as defined under the
Companies Act, 2013), either severally or jointly with any other person that are repayable on demand or without
specifying any terms or period of repayment.
Note:-
The Company has not given/ provided any guarantee/ collaterals for and on behalf of the aforementioned
related parties.
No amount has been written off or written back during the year in respect of debts due from or to related
parties.
28 Employee Benefits
The company operates a defined plan of gratuity for its employees. Under the gratuity plan, every employee
who has completed at least five years of service gets a gratuity on departure @ 15 days of last drawn salary
for each completed year of service. The scheme is unfunded.
The following tables summarize the components of net benefit expense recognized in the statement of profit
and loss and amounts recognized in the balance sheet for the respective plans.
31 Others
i) Previous year figures have been regrouped and rearranged wherever necessary, to make them
comparable with those of current year.
ii) Trade Payables, Advances and Liabilities have been taken as per books, are subject to
reconciliation/confirmation and consequential adjustments, if any.
iii) In the opinion of Board of Directors, Current Asset, Loans and Advances are Approximately of the same
value at which these are stated in the Balance Sheet, if realized in ordinary course of business.
32 Title deeds of Immovable Property not held in name of the Company
The company does not have any immovable property (other than properties where the company is the
lessee and the lease agreements are duly executed in favour of the company) for which title deeds are
not held in the name of the company. Accordingly, the requirement to disclose details relating to title
deeds of immovable properties not held in the name of the company is not applicable.
33 Revaluation of Property, Plant and Equipment
The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and
Intangible assets.
34 Intangible assets under development:
The Company has no Intangible Asset under Development.
35 Details of Benami Property held
The Company affirms that no proceedings have been initiated or are pending against it under the Benami
Transactions (Prohibition) Act, 1988 and the rules made thereunder. The Company does not hold any
benami property, nor has it been involved in any transaction that qualifies as a benami transaction as
defined under the said Act.
36 The company has taken Borrowings from Bank on the basis of Security of Current Asset i.e. Inventory.
The quarterly returns submitted to the bank are not in agreement with the books of accounts but the
differences have arisen only due to the reasons that there is a re-grouping and reclassification of trade
receivables and trade payables including compensatory adjustment of advances received/given from/to
customers/ vendors.
37 Contingent liabilities.
Currently, there are some contingent liabilities that should be as follows. (Rs. In Lakhs)
38 Wilful Defaulter
The Company has not been declared wilful defaulter by any bank or financial institution or government or
any government authority.
39 Registration of Charge
There are no charges or satisfaction yet to be registered with Registrar of companies (ROC).
40 Arrangements and Amalgamations
There are no Scheme of Arrangements placed before the Competent Authority in terms of sections 230
to 237 of the Companies Act, 2013 for approval.
41 Compliance with number of layers of companies
The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with Companies (Restriction on number of Layers) Rules, 2017.
The company have two Subsidiaries, namely RBM Solar Solutions Private Limited and RBM Green Energy
Private Limited. RBM Green Energy Private Limited is a wholly owned subsidiary, while the company
holds a 60% equity stake in RBM Solar Solutions Private Limited. The Company has subscribed to the
share capital of the aforesaid subsidiaries. However as on the date of this report, company has not paid
any money against such Subscription.
These subsidiaries have not commenced business and hence there are no financial transactions in any of
subsidiaries as certified by the management.
42 Utilisation of Borrowed funds and share premium
The Company has not received any fund (which are material either individually or in the aggregate) from
any party(ies) (Funding Party(ies)) with the understanding whether recorded in writing or otherwise, that
the Company shall, whether, directly or indirectly lend or invest in other persons or entities identified in
any manner by or on behalf of the Funding Party (Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.
43 Utilisation of Money raised through Initial Public Offer (SME IPO)
The company has issued 530000 convertible Equity Warrants on 13/02/2024 at issue price of Rs. 386 per
warrant on preferential basis to the promoters. The subscription money Rs. 1930.45 lakhs being 94.36%
of the issue price received as at 31/03/2025. The company has utilized proceeds from convertible equity
warrant for the object it is issued.
44 Undisclosed Income
There is no income surrendered or disclosed as income during the current or previous year in the tax
assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.
Segment reporting
The Company has single reportable business segment. Hence, no separate information for segment-wise
disclosure is given in accordance with the requirements of AS 17 - Operation Segments.
47 Virtual Currency Transaction
The Company has not traded or invested in crypto currency or virtual currency during the current or
previous year.
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