(I) Terms/ right attached to Equity Shares
The Company has only one class of equity shares having par value of Re.1/- per Shares. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity share will be entitled to receive remaning assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders._
*Disclosure in relation to Micro and Small enterprises 'Suppliers' as defined in the Micro, Small and Medium Enterprises Development Act, 2006 ('Act).
The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum Number as allocated after filing of the said Memorandum. Accordingly, the disclosures above in respect of the amounts payable to such enterprises as at the period end has been made based on information received and available with the Company.
Note No: 26
Earnings per share (EPS)
Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.
Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.
The following data reflects the inputs to calculation of basic and diluted EPS :
Note No: 27
Corporate social responsibility (CSR)
CSR provisions are not applicable to the company for FY 2023-24 & FY 2022-2023 as the company is not satisfying the criteria specified under Section 135(1) of Companies Act
For financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs for the asset or liability.
Note No. 33
The outstanding loan of Rs. 41.96 Lacs as on 31.03.2024, have been provided as bad debts by the company and is included under the head 'Other Expenses' for the quarter and year ended 31.03.2024.
Note No. 35 Immovable Property
No immovable Property is held in the name of Company Note No. 36
Fair Valuation of Investment property
No invesment property is held in the name of the Company.
Note No. 37
Revaluation of Property , Plant & Equipment & Right-of- Use Assets
During the year there is no revaluation of Property, Plant & Equipment and compnay does not have any ROU assets.
Note No. 38
Revaluatoin of Intengible Assets
There is no intangible assets as at the balance sheet date.
Note No. 39
Capital-Work-in Progress (CWIP) |
There is no capital work in progress in the company as at balance sheet date.
Note No. 40
Intangible assets under development |
There is no Intangible assets under development in the company as at balance sheet date.
Note No. 41
Detail of Benami Property held |
No proceedings have been initiated or pending against the company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and the Rules made thereunder.
Note No. 42
Borrowings secured against current assets |
The Company has been sanctioned overdraft credit facility during the year against term deposit with the bank and there is no such requirements for submission of Quarterly Returns/statements for security against such Bank Overdraft.
Note No. 43
Wilful Defaulter |
The Company is not declared wilful defaulter by any bank or financial institution or other lender at any time during the financial year or after the end of reporting period but before the date when financial statements are approved or in an earlier period.
Note No. 44
Relationship with Struck off companies |
Company did not have any transactions with companies struck off under Section 248 of Companies Act, 2013 or Section 560 of Companies Act, 1956.
Note No. 45
Registration of charges or satisfaction with Registrar of Companies |
There is no charges or satisfaction yet to be registered with Registrar of Companies by the company during the financial year.
Note No. 46
Compliance with number of layers of companies |
The company is not required to 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.
Note No. 47 ^
Compliance with approved Scheme(s) of Arrangements |
No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, during the financial year.
Note No. 48 ^
Utilisation of Borrowed fund and share premium |
Neither the company has advanced or loaned or invested funds to Intermediaries nor received any fund from any Funding Party during the financial year with the
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)
b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
Note No. 49
Undisclosed Income |
The company has no 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), unless there is immunity for disclosure under any scheme.
Note No. 50
Details of Cyrpto Currency or Virtual Currency |
The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
Not e No. 51
on 24th May 2024.
Note No. 52
Disclosure as per Ind AS 107 'Financial instrument disclosure'
A) Capital Risk Management
For the purpose of the company’s capital management, capital includes issued capital and all other equity reserves. The primary objective of the company’s capital management is to maximise shareholder value. The company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.
No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2024 and 31 March 2023
B) Financial risk management Financial risk management
The Company's Financial Risk Management is an integral part of how to plan and execute its business strategies. The Company's financial risk management is set by the Managing Board of Directors.
Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise three types of risk: currency rate risk, interest rate risk and other price risks, such as investment price risk and commodity risk.
Financial instruments affected by market risk include loans and borrowings, deposits, investments, and derivative financial instruments.
Market price risk
The Company is exposed to market price risk, which arises from securities held as inventories classified at FVTPL. The management monitors the proportion of these securities in its trading portfolio based on market indices. Material securities within the portfolio are managed on an individual basis and all buy and sell decisions are approved by the appropriate authority.
Equity Price Sensitivity analysis:
The fair value of equity instruments as at March 31, 2024 and March 31, 2023 Rs.168.39 Lakhs and Rs. 95.35 Lakhs respectively. A 50% and 50% change in price of
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 a financial loss.
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.
Risk Management framework
The Company’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company’s financial performance.
Risk management is carried out by the risk management committee under policies approved by the board of directors. The risk management committee identifies, evaluates and hedges financial risks in close co-operation with the Company’s operating units. The board provides principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, and credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.
Note No. 53
The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendments Rules2021) which is effective from 1st April,2023 states that every company which uses accounting software for maintaining its books of accounts shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and further creating an edit log of each change made to books of accounts along with the date when such changes were made and ensuring that audit trail cannot be disabled.
The Company uses a Tally Prime /Edit Log ERP software as a primary accounting software for maintaining books of accounts , which has a feature of recording audit trail edit logs facility and that has been operative throughout the financial year for the transactions recorded in the software.
Note No. 54
During the year ended 31st March, 2024; the company made investment in M/s. Derren Healthcare Pvt Ltd, (DHPL) as detailed hereunder:
The Company has entered into a Share Purchase Agreement (SPA) with DHPL and its promoters on 19th September 2023 for acquiring 70% shareholding of DHPL. The Company has also simultaneously entered into a Share Subscription Cum Shareholder's Agreement' (SSSA) on the same day to and agreed to induct Rs. 5 Crores into DHPL and in turn, DHPL will allot 13,84,275 shares to the Company.
The Company made payment of Rs. 12,63,95,377/- to one of the Promoters, Mr. Vibhava Kumar Singh who Is holding 70% shares in DHPL for purchase of 35,00,000 shares, The Company has also inducted Rs. 5 crores in DHPL for subscription of 13,84,275 shares.
These payments represent full payment towards total acquisition of 70% shareholding In DHPL and additional shareholding as envisaged in SSSA.
The company has received the shares certificate related to above subscription of 13,84,275 shares and share certificate of 35,00,000 shares is yet to be received by the company as per SPA.
The total acquisition is to be completed by 19th September 2024, However, s. Genpharmasec Ltd, the company, will gain ‘controlling Interest only after complete execution of respactive SPA and SSA.
Note No. 55
The company has incorporated a new wholly owned subsidiary namely M/s. Clinigenome India Pvt Ltd' to expand the business activities on 29.01.2024 Note No. 56
The Board of Directors at its meeting held on 21st February 2024 allotted 27,68,59,850 shares to the Equity Shareholders of the Company through Right issue at issue price of Rs. 1.75 per equity Share (including a premium of Rs. 0.75 per equity Share).
Note No. 58
Contingent liabilities and commitments
a) Claims against the compnay not acknowledged as debt
The income tax department has rasied the demand for AY 2022-23 of Rs. 1.52 Lacs (previous year Nil) and the compnay has filed an appeal with Learned CIT as per advise of the tax consultant. ^
b) Commitments
There are no commitments as on 31.03.24 and 31.03.23_