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NOTES TO ACCOUNTS

Mittal Life Style Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 121.50 Cr. P/BV 10.22 Book Value (₹) 10.12
52 Week High/Low (₹) 108/17 FV/ML 10/2500 P/E(X) 80.28
Bookclosure 21/06/2019 EPS (₹) 1.29 Div Yield (%) 0.00
Year End :2018-03 

General company profile :

Mittal Lifestyle Limited (the ‘Company’) was incorporated on 31/08/2005 as Private Limited Company under the Companies Act 1956 and the same was converted in Public Limited Company on 22/11/2017. The company Is engaged mainly in supply of Bottom weight Fabrics & Denims.The company has tied-up with about 16 Composite mills to get denim fabric manufactures as per its need and requirements. The Company is listed on SME Platform of National Stock Exchange (NSEJ.

(a) Rights, preferences and restrictions attached to shares

(i) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- per. share. Each holder of equity shares is entitled to one vote per share.

(ii) In the event of liquidation of the Company, the holders of the equity shares of the Company will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts in proportion to their shareholding.

Details of Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006 (“MSMED Act’1) Under Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006 (“MSMED Act’1), certain disclosure are required to be made relating to Micro, Small and Medium Enterprises. The Company is in process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is not readily available, no disclosure have been made in the accounts. However in view of the management, the impact of interest, if any, that may be payable in accordance with the provision of this Act is not expected to be material.

The disclosure required as per the revised AS 15 is as under:

a) Retirement Benefits

The Company has following long term retirement employees benefits: i) Defined Contribution Plan:

Note This being the first year of liability of the company toward gratuity payble to employees, hence comparative previous year figure not being given,

b) Short Term Employee Benefits

All employees benefits falling due wholly with in twelve months of rendering services are classified as short term employee benefits, which include salaries, wages, bonus, leave encashement ets. The said benefits are recognised as expenses in the period in which the employee renders the related service and measured accordingly.

Leave encashment is provided on the basis of earned leave standing to the credit of the employees and the same is discharged by the company by the year end or rn the immediate subsequent year.

1 Closing stock of Finished Goods include excise duty of Rs.3,99,24,919/-(31 March, 2017 Rs.3,71,37,782/ ).

2 In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated, tf realised, in the ordinary course of the business. The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

3 Previous period figures have been regrouped and. recast wherever necessary to conform to the current year classification.

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