1. Provision for 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. Contingent Assets are neither recognized nor disclosed in the financial statements.
2. Miscellaneous Expenditure:
Pre-operative expenses are amortized over a period of five years.
3. Earning Per Share (EPS)
Sr.
No.
Particulars
31.03.2024
31.03.2023
I
Net Profit/(Loss) after tax available for equity shareholder in Rupees
249.70
13.19
ii
Weighted average no of Equity Shares for basic and diluted EPS
64,90,000
30,00,000
iii
Nominal Value of Equity Shares in Rupees
10
iv
Basic / Diluted Earning per Share in Rupees
8.32
0.44
4. Contingent Liabilities: NIL (P.Y. NIL)
5. Related Party Disclosure under Accounting Standard 18 (AS 18):A) List of related parties as identified by the management are as under :
I) Enterprises that directly or indirectly control (through subsidiaries) or are controlled by or are under common control with the reporting enterprise : None
II) Associates, Joint Ventures of the reporting entity, investing party or venture in respect of which reporting enterprise is an associate or a joint venture : None
III) Individual owing, directly or indirectly an interest in voting power of reporting enterprise that gives them control or significant influence over the enterprise, and relative of any such individual : Nil
IV) Key Management Personnel (KMP) and their relatives;
Mr. Pankaj Panchal
Whole Time Director
Mr. Arvindkumar Parmar
Executive Director
Mr. Nitin Mistry
Company Secretary (up to 29.04.2024)
Mr. Vipul Panchal
Chief Financial Officer
Mr. Vikas Gohil
9. Deferred Tax Asset
In accordance with the provisions of Accounting Standard (AS22) issued by The Institute of Chartered Accountants of India pertaining to accounting of taxes on income, in view of the company not expecting any taxable profits in near future, no deferred tax asset is recognized. The details of the same areas under:
Particular
AS AT
Deferred Tax Liability
-
Deferred Tax Assets on account of :
Carried Forward Losses as per Income Tax
Net Deferred Tax Asset
10. Segment wise details, as required by AS-17 Segment Reporting are not furnished as the management is of the opinion that it does not have any geographical / business segment that is subject to different kind of risk, return or opportunities.
11. Previous year figures are given in bracket and have been regrouped / rearranged wherever necessary to make them comparable.