Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.
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.
Contingent liability is disclosed in case of:
a) a presnt obligation arising from past events, whne it is not probable that an outflow of resources will be require to settle the obligation; and
b) a present obligation arising from past events, when no reliable estimate is possible,
Contingent assets are disclosed whn an inflow of economic benefits is probable.
ix. Earning per share
Basic Earning per share is calculated by dividing the Net Profit after tax for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.
Diluted EPS is computed by dividing the profit after tax, as adjusted for dividend, interest and other charges to expenses or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basis EPS and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.
x. Regrouping
The previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to to the amounts and other disclosures relating to the current year.
Firm Registeration No.: 135024W SAWACA BUSINESS MACHINES LIMITED
Chartered Accountants
Shetal Shah Satish Shah
CA Marmik Shah Managing Director Director
Partner DIN: 02148909 DIN: 05103862
Membership No.: 133926 Saurabh B Shah
UDIN: 24133926BKCJOL5524 Company Secretary (A7862)
Date : 21/05/2024 Date : 21/05/2024
Place : Ahmedabad Place : Ahmedabad
1. The Company has Sub-divided its 1,04,00,900 equity shares of face value of Rs. 10/- each fully paid up into 10,40,09,000 equity shares of face value of Rs. 1/- each fully paid up we.f. 27th may 2022 as recommended by the Board of Directors and approved by the Shareholders of the Company. Earnings per Share have been calculated/ restated, as applicable, for all the period(s) presented after considering the new number of equity shares post such sub-division in line with the provisions of the applicable ind AS and to make figures of EPS comparable with previous periods/year.
2. The Company allotted 1,04,00,900 bonus equity shares of 1 each as fully paid-up bonus equity shares, in the proportion of 10 (Ten) equity share of Rs. 1/- each for every 100 (Hundred) existing equity shares of 1/- each to the eligible members whose names appeared in the register of members/list of beneficial owners as on 27th May 2022, i.e. record date. Accordingly, earnings per share of comparative periods presented has been calculated based on number of shares outstanding in respective periods, as increased for issuance of bonus shares.
a Segments have been identified in accordance with Indian Accouting Standards (“Ind AS”) 108 on Operating Segments, considering the risk/return profiles of the business, their oraganisational structure and internal reporting system.
b The trading segement includes wholesale trading of various items of finished goods, which includes trading mainly on bill to ship to basis and the role of the company is mainly to procude the order and assure the delivery to the customer.
c The Information technology service segement includes various technical support services, software development services, deployment of resources for the identified projects for indetified tasks.
d The Company is engaged mainly in trading of goods & information technlogy. Most of the assets, liabilities of the aforesaid reportable segments are interchangeable or not practically allocable.
For MAAK & Associates For and on behalf of Board of Directors of