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Notes to Accounts of Balaxi Pharmaceuticals Ltd.

Mar 31, 2023

Earnings Per Share

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of equity shares outstanding during the year.

Segment information

The operating segment of the Group is identified as “Specialized Wholesale” as the Chief Operating Decision Maker reviews business performance at an overall level as one segment. Therefore, the entire operation fall within only one single reportable segment.

Capital Management

For the purpose of Company’s capital management, Capital includes issued equity capital and other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to maximise the shareholder value.

To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.

Financial risk management objectives and policies

The Company’s principal financial liabilities comprise of trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include cash and cash equivalents that derive directly from its operations and FVTPL investments.

The Company is exposed to market risk and liquidity risk. The Company’s senior management oversees management of these risks. The Company’s financial risk activities are governed by appropriate policies and procedures so that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

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 risk comprises of currency rate risk, interest rate risk and other price risk. Financial instruments affected by market risk include FVTPL financial instruments.

The sensitivity analyses in the following sections relate to the position as at 31 March 2023 and 31 March 2022.

Equity price risk

The Company’s listed equity instruments are susceptible to market price risk arising from uncertainties about future values of the investment securities. The Company manages the equity price risk through diversification. The Company’s Board of Directors reviews and approves all equity investment decisions.

Liquidity Risk

The Company’s objective is to maintain a balance between continuity of funding and flexibility. The Company has sufficient working capital funds available to honour the debt maturing within 12 months.

31) MSME

The Company has entered into business transactions with suppliers registered under the Micro, Small and Medium Enterprises Development act,2006 the payment for which have been made within the stipulated or agreed time.

32) Subsequent Events

There are no significant events that occurred after the balance sheet date.

33) Prior year comparatives

The figures of the previous year have been regrouped/ reclassified, where necessary, to conform with the

current year’s classification.

34) Additional Regulatory Information

i) The company doesn’t possess any immovable property. In respect of immovable properties taken on lease and disclosed as property, plant and equipment in the standalone Ind AS financial statements, the lease agreements are duly executed in the name of the Company.

ii) The Company has not revalued any of its Property, Plant and Equipment during the year.

iii) No loans and advances were granted to promoters, directors, KMPs and the related parties.

v) The company did not hold any Benami Property and hence no proceedings were initiated or pending against the company.

vi) There are borrowings from banks on the basis of current assets given as security. Returns and statements submitted by the company are in agreement with the Books of Account.

vii) The company was not declared as a wilful defaulter by any bank or financial institution.

viii) The company did not enter into any transactions with struck off companies.

35) Undisclosed Income

All transactions were recorded in the books of account and there was no undisclosed income that has been surrendered or disclosed as income during the year.

37) Details of Crypto Currency or Virtual Currency

The Company has not traded nor has invested in Crypto Currency or Virtual Currency during the financial year.


Mar 31, 2021

26. Capital Management

For the purpose of Company''s capital management, Capital includes issued equity capital and other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximise the shareholder value.

To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.

27. Financial risk management objectives and policies

The Company''s principal financial liabilities comprise of trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include cash and cash equivalents that derive directly from its operations and FVTPL investments.

The Company is exposed to market risk and liquidity risk. The Company''s senior management oversees management of these risks. The Company''s financial risk activities are governed by appropriate policies and procedures so that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

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 risk comprises of currency rate risk, interest rate risk and other price risk. Financial instruments affected by market risk include FVTPL financial instruments.

The sensitivity analyses in the following sections relate to the position as at 31 March 2021and 31 March 2020.

Equity price risk

The Company''s listed equity instruments are susceptible to market price risk arising from uncertainties about future values of the investment securities. The Company manages the equity price risk through diversification. The Company''s Board of Directors reviews and approves all equity investment decisions.

Liquidity Risk

The Company''s objective is to maintain a balance between continuity of funding and flexibility. The Company has sufficient working capitall funds available to honour the debt maturing within 12 months.

28. MSME

The Company has not entered into any business transcations nor has borrowed any amounts from suppliers registered under the Micro, Small and Medium Enterprises Development act,2006.

29. Subsequent Events

There are no significant events that occurred after the balance sheet date.

30. Prior year comparatives

The figures of the previous year have been regrouped/reclassified, where necessary, to confirm with the current year''s classification.


Mar 31, 2015

1. BACKGROUND

The company had sold its loss making plantation in 1989, the proceeds in respect of which have been deployed in banks and investments. The directors are considering various business proposals to strengthen the financial base of the company.

2. Segment Reporting

The company's funds are presently deployed in banks and investments in shares, pending the acquisition of another plantation and/ or commencement of tea, rubber or other business. Consequently the need for separate disclosure as required under Accounting Standard 17- Segment Reporting is not considered.

3. Contingent Liabilities

The Company has no material contingent liabilities as at March 31, 2015.

4. Foreign Currency

The company did not enter into any transaction involving foreign currency.

5. Comparative Figures

Previous year's figures have been regrouped wherever necessary to make them comparable with those of the current year.

6. Information on dues to Small Scale Industries Units

The Company has not received the required information from suppliers under the Micro, Small and Medium enterprise Development Act, 2006. Hence, disclosure relating to unpaid amounts as at the end of the year together with the interest paid /payable as required under the said Act has not been made.


Mar 31, 2014

1. Segment Reporting

The company's funds are presently deployed in banks and investments in shares, pending the acquisition of another plantation and/ or commencement of tea, rubber or other business. Consequently the need for separate disclosure as required under Accounting Standard 17- Segment Reporting is not considered.

2. Contingent Liabilities

The Company has no material contingent liabilities as at March 31, 2014.

3. Foreign Currency

The company did not enter into any transaction involving foreign currency.

4. Comparative Figures

Previous year's figures have been regrouped wherever necessary to make them comparable with those of the current year.

5. Information on dues to Small Scale Industries Units

The Company has not received the required information from suppliers under the Micro, Small and Medium enterprise Development Act, 2006. Hence, disclosure relating to unpaid amounts as at the end of the year together with the interest paid /payable as required under the said Act has not been made.


Mar 31, 2013

1. Related Party Disclosures

List of related parties Where Control Exists:

* Akhil Securities 41/298 D2, 2nd Floor, Saniya Plaza, Mahakavi Bharathiyar Road, Near KSRTC Bus Stand, Ernakulam - 682 035

* Bobby J Arakunnel, Kattikaran Tower, Providence Road, Kochi

* Jaya Paul Vadakkedathu, Ooramana, Ramamangalam a. Transaction with related parities

Name of related party Nature of Volume of Balance as on transaction transactions March31, 2013

Akhil Securities Unsecured 20,00,000/- - loan taken

Bobby J Arakunnel Unsecured 1,50,000/- - loan taken

Jaya Paul Unsecured 2,00,000/- - loan taken

2. Non Current Investments

Regarding the investment in equity shares of Pats pin India Limited classified under non current investment, the management is of the view that the decline in market value is not permanent considering the growth expected in the investees operations and trend in Indian stock market and hence no provision has been made.

3. Remuneration to Auditors

Particulars 2012-2013 2011-2012

Statutory Audit under the Companies Act 17,000/- 15,000/-

Service Tax 2,101/- 1,854/-

Expenses reimbursement - -

Total 19,101/- 16,854/-

4. Segment Reporting

The company's funds are presently deployed in banks and investments in shares, pending the acquisition of another plantation and/ or commencement of tea, rubber or other business. Consequently the need for separate disclosure as required under Accounting Standard 17- Segment Reporting is not considered relevant.

5. Contingent Liabilities

The Company has no material contingent liabilities as at March 31, 2013.

6. Foreign Currency

The company did not enter into any transaction involving foreign currency.

7. Comparative Figures

Previous year's figures have been regrouped wherever necessary to make them comparable with those of the current year.

8. Information on dues to Small Scale Industries Units

The Company has not received the required information from suppliers under the Micro, Small and Medium enterprise Development Act, 2006. Hence, disclosure relating to unpaid amounts as at the end of the year together with the interest paid /payable as required under the said Act has not been made.


Mar 31, 2012

1. Related Party Disclosures

a. List of related parties Where Control Exists:

* Akhil Securities 41/298 D2, 2nd Floor, Saniya Plaza, Mahakavi Bharathiyar Road, Near KSRTC Bus Stand, Ernakulam - 682 035

* Bobby J Arakunnel, Kattikaran Tower, Providence Road, Kochi

2. Non Current Investments

Regarding the investment in equity shares of Patspin India Limited classified under non current investment, the management is of the view that the decline in market value is not permanent considering the growth expected in the investees operations and trend in Indian stock market and hence no provision has been made.

3. Segment Reporting

The company's funds are presently deployed in banks and investments in shares, pending the acquisition of another plantation and/ or commencement of tea, rubber or other business. Consequently the need for separate disclosure as required under Accounting Standard 17- Segment Reporting is not considered relevant.

4. Contingent Liabilities

The Company has no material contingent liabilities as at March 31, 2012.

5. Foreign Currency

The company did not enter into any transaction involving foreign currency.

6. Comparative Figures

Previous year's figures have been regrouped wherever necessary to make them comparable with those of the current year.

7. Information on dues to Small Scale Industries Units

The Company has not received the required information from suppliers under the Micro, Small and Medium enterprise Development Act, 2006. Hence, disclosure relating to unpaid amounts as at the end of the year together with the interest paid /payable as required under the said Act has not been made.

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