Provisions are recognized, when there is a present legal or constructive obligation as a result of past events, where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. Where the effect is material, the provision is discounted to net present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.
Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for. Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
2.3.12 Earnings per share (EPS)
Basic EPS is computed by dividing the profit or loss attributable to the equity shareholders of the Company by the weighted average number of Ordinary shares outstanding during the year. Diluted EPS is computed by adjusting the profit or loss attributable to the ordinary equity shareholders and the weighted average number of ordinary equity shares, for the effects of all dilutive potential Ordinary shares.
2.3.13 The company does not have any financial transaction with any struck off companies as per Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
2.3.14 No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
2.3.15 The company does not have borrowings from banks or financial institutions on the basis of security of current assets, and hence there is no defualt in repayment of the same.
2.3.16 There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
2.3.17 The company is not covered under section 135 of the Companies Act, for the adherence to the provisions of CSR activities.
2.3.18 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
22 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.
There are no assets and liabilities which have been carried at fair value through the profit and loss account.
There are no assets and liabilities which have been carried at fair value through the other comprehenssive income.
The management assessed that cash and cash equivalents, trade receivables, trade payables, and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
The fair values of the unquoted equity shares have been estimated using a DCF model. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, discount rate, credit risk and volatility. The probabilities of the various estimates within the range can be reasonably assessed and are used in management s estimate of fair value for these unquoted equity investments.
The fair values of the Group's interest-bearing borrowings and loans are determined by using DCF method using discount rate that reflects the issuer's borrowing rate as at the end of the reporting period. The own nonperformance risk as at 31 March 2018 was assessed to be insignificant.
26 Capital Management
The company manages its capital to ensure that entities in the Company will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the capital deployment.
The company determines the amount of capital required on the basis of annual operating plans and long-term product and other strategic investment plans. The funding requirement are met through equity and long-term/ short-term borrowings.
27 The amounts and disclosures included in the financial statements of the previous year have been reclassified and regrouped whereever necessary.
For Sunil Kumar Gupta & Co. For and on behalf of Board of Directors
Chartered Accountants Manbro Industries Limited
Firm Registration number: 003645N
RAJIV GUPTA KANHIYA GUPTA HALDHER GUPTA
Managing Director Director Director
Rahul Goyal DIN:01236018 DIN: 07262275 DIN: 08168505
Partner
Membership No: 540880 Place: New Delhi Date: 30.05.2024 UDIN:
NALINI GUPTA BHUWAN SINGH TARAGI
Chief Financial Officer Company Secretary
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