m Provisions, Contingent liabilities and Contingent assets
A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognised in the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.
n Cash and cash equivalents
The Company considers all highly liquid financial instruments, which are readily convertible into known amount of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents.
(ii) Rights, preferences and restrictions attached to shares
Equity Shares: The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Current ratio: Due to increase in working capial after raising of funds.
Debt equity ratio: Due to repayment of unsecured borrowings.
Debt service coverage ratio: Due to increase in earnings as compared to earlier year. Return on equity ratio: Due to significant increase in shareholder's fund on public issue. Trade receivable turnover ratio: Due to increase in turnover for the current year.
Trade payable turnover ratio: Due to increase in turnover for the current year.
Net capital turnover ratio: Due to significant increase in working capital as compared to turnover for the current year.
Return on capital employed: Significant increase in shareholder's fund on public issue. 38 Undisclosed Income
The Company has not any such 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).
Nature of CSR activities
The Company had deposited a sum of Rs. 8.50 Lakhs pertaining to CSR expenditure for the year ended on 31st March 2023 to the "PM Cares Fund" specified under Schedule VII of the Companies Act, 2013 before due date.
During the year, the Company has in place a CSR policy laid down in accordance with the provisions of Companies Act, 2013 and rules made thereunder. The Company under its CSR policy, affirms its commitment of seamless integration of marketplace, workplace, environment and community concerns with business operations by undertaking activities / initiatives that are not taken in its normal course of business and/or confined to only the employees and their relatives and which are in line with the broad-based list of activities, areas or subjects that are set out under schedule VII of the Companies Act, 2013.
40 Other Statutory Disclosures as per the Companies Act, 2013
The Company did not have any long- term contracts including derivative contracts for which there were any material foreseeable losses.
The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.
The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment and capital work-in progress are held in the name of the Company as at the balance sheet date.
41 Segment Reporting
In absence of any identifiable business segment, Accounting Standard (AS) 17 on Segment Reporting are not applicable on the Company.
42 Realisable value of assets
In the opinion of the management, the current assets, loans and advances have a realizable value in the ordinary course of business is not less than the amount at which they are stated in the balance sheet.
43 Confirmation of balances
Balance shown under receivables, payables and advances are subject to confirmation.
44 Regrouping
Previous year's figures have been re- arranged or re- grouped wherever considered necessary.
45 Rounding off
Figures have been rounded off to the nearest thousands of rupees.
As per our report of even date For and on behalf of the Board of
For V. N. PUROHIT & CO. CFF Fluid Control Limited
Chartered Accountants
Firm's Registration No. 304040E
O.P. Pareek Gautam Makkar Sunil Menon Hitesh Birla Sonika Mehta
Partner Director Director CFO Company Secretary
Membership No. 014238 0354956 0409485 M. No. A63323
UDIN: 24014238BKAUCJ5695 Place: Mumbai
Place: New Delhi Date: 29 May 2024
Date: 29 May 2024