(xiii) 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. Contingent Liabilities are not recognized but are disclosed in the notes on accounts. Contingent Assets are neither recognized nor disclosed in the financial statements.
(xiv) EARNINGS PER SHARE:
The basic Earnings Per Share ("EPS") is computed by dividing the net profit after tax for the year by the weighted average number of equity shares outstanding during the year. For the purpose of calculating diluted earnings per share, net profit after tax for the year and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
(xv) CASH FLOW STATEMENT:
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.
(xvi) GENERAL:
Accounting policies not specifically referred to above are in consistent with the generally accepted accounting principles followed in India. During this year, wordings of some of the accounting policies have been modified/revised to reflect correct meaning in line with the applicable Accounting Standards. However, there has been no change in the accounting policies, which are consistently followed by the company.
24.1 RELATED PARTY DISCLOSURES (AS-18):
Names of the related parties and nature of relationships and particulars of transactions with the said related parties during the year are as follows:
Note: Information of related parties and the relationship is as identified by the Company on the basis of information available with them.
24.2 SEGMENT REPORTING (AS-17)
The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment. Inter-segment revenue is accounted on the basis of transactions which are primarily determined based on market/ fair value factors. Revenue and expenses have been identified to segments on the basis of their relationship to the operating activities of the segment.
Revenue, expenses, assets and liabilities which relate to the company as a whole and are not allocable to segments on reasonable basis have been included under “unallocated revenue /expenses/ assets/ liabilities”.
24.3 POST-EMPLOYMENT BENEFITS (GRATUITY AS-15)
Provident fund is defined Contribution scheme and contributions are charged to profit and loss account of the year when the contributions to the respective funds are due. Other retirement benefits such as Gratuity, leave encashment etc., are recognized on basis of an Actuarial Valuation.
27. Previous year’s figures have been regrouped wherever necessary to conform to the format of Schedule III and the classification adopted in the current year.
Note Nos.24 to 27 above form an integral part of the Balance Sheet and Statement of Profit & Loss.
As per our report of even date
For C M T & Associates For and on behalf of the board of directors of
Chartered Accountants Retina Paints Limited
Firm Regn No : 011515S CIN: L24232TG2010PLC071018
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CA. China Masthan T Rakesh Dommati Rajitha Koyyada
Partner Managing Director Whole Time Director
Membership No: 218549 DIN:03214046 DIN:07108068
UDIN: 24218549BKESYD8868
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Place: Hyderabad Vishnu Vardhan Yadav S Ramu Krishnamachari
Date: 30.05.2024 Chief Financial Officer Company Secretary
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