Mar 31, 2023
Provision and contingent liability
A provision is recognized when the Company has a present obligation as a result of past event, and it is probable that an outflow
of resources embodying economic benefits will be required to settle the obligation that can be reliably estimated. Provisions 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 estimates are reviewed at each balance sheet date and adjusted to reflect the current best estimates.
Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are
lower than the unavoidable costs of meeting the future obligations under the contract. Provisions for onerous contracts are
measured at the present value of lower of the expected net cost of fulfilling the contract and the expected cost of terminating the
contract.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability
also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.
The Company does not recognize a contingent liability but discloses its existence in the consolidated financial statements.
(r) Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity.
I. Financial assets
All financial assets are recognized initially at fair value. Transaction costs that are directly attributable to the acquisition of
financial assets (other than financial assets at fair value through profit or loss) are added to the fair value measured on initial
recognition of financial asset. Purchase and sale of financial assets are accounted for at trade date.
(i) Financial instruments at amortized cost
A financial instrument is measured at the amortized cost if both the following conditions are met:
a) the asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and
b) contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest
(SPPI) on the principal amount outstanding.
After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate
(EIR) method. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
are an integral part of the EIR. The EIR amortization is included in other income in the statement of profit and loss. The losses
arising from impairment are recognized in the statement of profit and loss. This category includes cash and bank balances, loans,
unbilled revenue, trade and other receivables.
(ii) Financial instrument at Fair Value through Other Comprehensive Income (OCI)
A financial instrument is classified and measured at fair value through OCI if both of the following criteria are met:
a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial assets, and
b) The asset''s contractual cash flows represent solely payments of principal and interest.
Financial instruments included within the OCI category are measured initially as well as at each reporting date at fair value. Fair
value movements are recognized in OCI. On derecognition of the asset, cumulative gain or loss previously recognized in OCI is
reclassified from OCI to statement of profit and loss.
(iii) Financial instrument at Fair Value through Profit and Loss
Any financial instrument, which does not meet the criteria for categorization at amortized cost or at fair value through other
comprehensive income, is classified at fair value through profit and loss. Financial instruments included in the fair value through
profit and loss category are measured at fair value with all changes recognized in the statement of profit and loss.
(iv) De-recognition of financial assets
A financial asset is primarily derecognized when the rights to receive cash flows from the asset have expired, or the Company
has transferred its rights to receive cash flows from the asset.
II. Financial liabilities
All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly
attributable transaction costs.
The subsequent measurement of financial liabilities depends on their classification, as described below:
(i) Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities designated upon initial recognition as at fair value
through profit or loss.
(ii) Financial liabilities at amortised cost
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective
Interest Rate [EIR] method. Gains and losses are recognised in the statement of profit and loss when the liabilities are
derecognised as well as through the EIR amortisation process.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral
part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.
(iii) De-recognition of financial liabilities
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability
are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the
recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit and loss.
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets
and settle the liabilities simultaneously.
(s) Impairment
(i) Financial assets
The Company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair
valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an
amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the twelve
month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured
at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting
date to the amount that is required to be recognized is recognized as an impairment gain or loss in statement of profit and loss.
(ii) Non-financial assets
At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to
estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating
unit to which the asset belongs. Where a reasonable and consistent basis of allocation can be identified, corporate assets are also
allocated to individual cash-generating units, or otherwise they are allocated to the smallest Company of cash- generating units
for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less
costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value
using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the
asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash¬
generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is
reduced to its recoverable amount. An impairment loss is recognized immediately in the statement of profit and loss, unless the
relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates used to
determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable, amount provided
that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortisation
or depreciation) had no impairment loss has been recognised for the asset in prior years.
(t) Segment reporting
An operating segment is a component of the Company that engages in business activities from which it may earn revenues and
incur expenses, including revenues and expenses that relate to transactions with any of the Company''s other components, and
for which discrete financial information is available. Operating segments are reported in a manner consistent with the internal
reporting provided to the chief operating decision maker (''CODM'').
The Company''s Board of Director''s has been identified as the CODM who is responsible for financial decision making and
assessing performance. The Company has a single operating segment as the operating results of the Company are reviewed on an
overall basis by the CODM.
(u) Earnings per share (''EPS'')
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period.
Diluted EPS amounts are computed by dividing the net profit attributable to the equity holders of the Company by the weighted
average number of equity shares considered for deriving basic earnings per share and also the weighted average number of
equity shares that could have been issued upon conversion of all dilutive potential equity shares. The diluted potential equity
shares are adjusted for the proceeds receivable had the shares been actually issued at fair value (i.e. the average market value of
the outstanding shares). Dilutive potential equity shares are deemed converted as at the beginning of the year, unless issued at a
later date. Dilutive potential equity shares are determined independently for each year presented.
(v) Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and on hand, short-term deposits with an original
maturity of three months or less, which are subject to an insignificant risk of changes in value.
For the purpose of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of
outstanding bank overdraft as they are considered an integral part of the Company''s cash management.
(w) Government Grants
The Company recognizes grants in the consolidated financial statements as a reduction from cost of sales to match them with the
expenditures for which they are intended to compensate or as other income in cases where grants is not linked to expenditure
incurred. Grants are recognized in the financial statements when there is reasonable assurance that the Company will comply
with the conditions for their receipt and a reasonable expectation that the funds will be received. In certain circumstances, the
receipt of an grant may not be subject to any condition or requirement to incur further costs, in which case the grant is
recognized in the consolidated financial statements for the period in which it becomes receivable after claim is filed or company
has finalized amounts that would be available.
(x) Use of estimates and judgments
The preparation of the Company''s consolidated financial statements requires Management to make judgments, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent
liabilities at the end of each reporting period. However, uncertainty about these assumptions and estimates could result in
outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future periods.
The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period
are discussed below. The Company based its assumptions and estimates on parameters available when the consolidated financial
statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to
market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions
when they occur.
(i) Useful lives of property, plant and equipment
Management estimates the useful lives of these property, plant and equipment to be within 5 to 7 years. The carrying amount of
the Company''s property, plant and equipment at March 31, 2023 was INR [March 31, 2022: INR ]. Changes in the expected level of
usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore
future depreciation charges could be revised.
(x) Impairment of non-financial assets
The Company assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Non-financial assets are tested for impairment when there are indicators that the carrying amounts may not be recoverable.
When value in use calculations are undertaken, Management must estimate the expected future cash flows from the asset or
cash generating unit and chose a suitable discount rate in order to calculate the present value of those cash flows.
(y) Employee share options
The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity
instruments at the date at which they are granted. Estimating fair value for share-based payment transactions requires
determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate
also requires determining the most appropriate inputs to the valuation model including the expected life of the share option,
volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for
share-based payment transactions are disclosed in Note 12 (e) & (f).
(z) Impairment of financial assets
The Company assesses at the end of each reporting period whether there is any objective evidence that a financial asset is
impaired. To determine whether there is objective evidence of impairment, the Company considers factors such as the probability
of insolvency or significant financial difficulties of the debtor and default or significant delay in payments.
(aa)Percentage of completion of contracts
The Company uses the percentage of completion method using the input (effort expended) method to measure progress towards
completion in respect of fixed price contracts. Percentage of completion method relies on estimates of total expected efforts to
complete the project. These estimates are assessed continually during the term of the contracts and the recognized revenue and
profit are subject to revision as the contract progresses to completion. When estimates indicate that a loss will be incurred, the
loss is provided for in the period in which the loss becomes probable.
Contracts with customers often include promises to transfer multiple services to a customer. Determining whether services are
considered distinct performance obligations that should be accounted for separately or together requires significant judgment
based on nature of the contract, transfer of control over the service, ability of the service to benefit the customer on its own or
together with other readily available resources and the ability of service to be separately identifiable from other promises in the
contract.
(bb)Judgments made in applying accounting policies
In the process of applying the Company''s accounting policies, Management has made the following judgments, apart from those
involving estimations, which has the most significant effect on the amounts recognised in the consolidated financial statements:
Income taxes
Significant judgment is involved in determining the Company''s provision for income taxes. There are certain transactions and
computations for which the ultimate tax determination is uncertain during the ordinary course of business. The Company
recognises liabilities for expected tax issues based on estimates of whether additional taxes will be due. Where the final tax
outcome of these matters is different from the amounts that were initially recognised, such differences will impact the income
tax and deferred tax provisions in the period in which such determination is made.
Determination of functional currency
The determination of functional currency often requires significant judgment where the primary economic environment in
which they operate may not be clear. In determining the functional currency, judgment is required to determine the currency
that mainly influences sales prices for goods and services and of the country whose competitive forces and regulations mainly
determines the sales prices of its goods and services. This is based on Management''s assessment of the economic environment
in which the Company operates.
Mar 31, 2014
1.1 Reconciliation of number of shares outstanding;
The company has not issued or brought bad; any a quit or preference
shares during the year under review
1.2 Shares Held by holdingfultimate holding company andfor thetr
subsldlarlesfassoclatas Out of issued, subscribed and paid
up capital:-
Nil (Previous Year Nil) Equity Shares are held by holding company
Nil (Previous Year Nil).Equity Shares are held by ultimate holding
company
Nil (Previous Year Nil) Equity Shares are held by subsidiary of holding
company
Nil (Previous Year Nil) Equity Shares are held by associates of
holding or ultimate holding company.
1.3 The details of shareholders holding more than 5 % of issued share
capital
1.4 The details of bonus shares issued, shares issued for consideration
otherwise than In cashand shares brought back in preceding five years
The company has not issued.any bonus shares, shares for consideration
otherwise than in cash and has not brought back any 1 shares in''year
under review and preceding five years
1.5 Details of Unpaid calls due from Directors or officers
There were no unpaid calls due from Directors/Officers of the Company.
1.6 Rights of Shareholders,''Dividend and Repayment of Capital: .
Rights of Equity Share holders
a. Holder of equity shares is entitled to one vote per share.
b. The Company declares and pays dividends In Indian Rupees, The
Companies Act, 1956 provides that any dividend be > declared-out
of''accumulated distributable profits only after the transfer to a
general reserve of a specified percentage of net profit computed
in accordance with current regulations
c. In the event of liquidation of the Company, .the hoidersjof shares
shall be entitled to, receive the'' remaining assets of the Company,
after distribution of all preferential amounts.
The amount distributed will be In proportion to the number of
equity shares held by the shareholders,
2. Previous year''s figures are regrouped/rearranged wherever
necessary.
3. There is a diminution in the value of long term investments
(Quoted) held by the company as on 31st March, 2014 on the
basis of market''value thereof as on that date.
No provision is considered necessary in the accounts at this
stage, since the company expects such a decline to be temporary,
4. MICRO AND SMALL SCALE BUSINESS ENTITIES
1 There are no Micro and Small enterprises, to which the company owes
dues, which are outstanding for more than 45 Days as at
31st March, 2014. This information as '' required. to be
disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006 has been determined to the extent such parties
have been '' identified on the basis of information available with the
Company.
5.The company has only one revenue segment - Trading business.
Hence, no separate segment wise information On Revenue, Result and
Capital employed is given.
Mar 31, 2013
1 Notes in compliance of Schedule VI to the Companies Act, 1956
2 SHARE CAPiTAL
2.1 Reconciliation of number of shares outstanding:
The company has not issued or brought back any equity or preference
shares during She year under review
2.2 Shares Held by holding/ultimate holding company and/or their
subsidiaries/associates Out of issued, subscribed and paid up capital".
Nil {Previous Year Nil) Equity Shares are held by holding company
Nil (Previous Year Nil) Equity Shares are held by ultimate holding
company
Nil (Previous Year Nil) Equity Shares are held by subsidiary of holding
company
Nil (Previous Year Nil) Equity Shares are held by associates of holding
or ultimate holding company.
2.3 The details of bonus shares issued, shares issued for consideration
otherwise than in cash and shares brought back in preceding five years:
The company has not issued any bonus shares, shares for consideration
otherwise than in cash and has not brought back any shares in year
under review and preceding four years
2.4 Details of Unpaid calls due from Directors or officers
There were no unpaid calls due from Directors ''Officers of the Company.
2.5 Rights of Shareholders, Dividend and Repayment of Capital:
Rights of Equity Share holders
a. Holder of equity shares is entitled to one vote per share.
b. The Company declares and pays dividends in Indian Rupees. The
Companies Act, 1956 provides that any dividend be declared out of
accumulated distributable profits only after the transfer to a general
reserve of a specified percentage of net profit computed
c. In the event of liquidation of the Company, the holders of shares
shall be entitled to receive the remaining assets of the Company, after
distribution of all preferential amounts. The amount distributed will
be in proportion to the number of equity shares
3. Appropriations out of Balance in Profit and Loss Account:
There is no appropriation out of Profit and Loss Account for the year /
previous year.
4. Previous year''s figures are regrouped/rearranged wherever
necessary.
5. There is a diminution in the value of long term investments
(Quoted) held by the company as on 31st March, 2013 on the basis of
market value thereof as on that date. No provision is considered
necessary in the accounts at this stage, since the company expects such
a decline to be temporary.
6. MICRO AND SMALL SCALE BUSINESS ENTITIES
There are no Micro and Small enterprises, to which the company owes
dues, which are outstanding for more than 45 Days as at 31st March,
2013. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the Company.
7. The company has only one revenue segment - Trading business. Hence,
no separate segment wise information on Revenue, Result and Capital
employed is given.
8. Related Parties Disclosures f Accounting Standard -18 )
(I) Relationships:-
(a) Other related parties where control exists.- (i) Krupa Printers
9. Adoption of accounting standard - 28 on "Impairment of Assets"
issued by The Institute of Chartered Accountants of India, does not
have any material impact on either profit for the year or on the net
assets of the company as at year end.
Mar 31, 2012
1.1 Reconciliation of number of shares outstanding:
The company bes not issued or brought back any equity or preference
shares during the year under review
1.2 Shares Held by holding/ultimate holding company and/or their
subsidiaries/associates
Out of issued, subscribed and paid up capital:
Nil (Previous Year Nil) Equity Shares are held by holding company
Nil (Previous Year Nil) Equity Shares are held by ultimate holding
company
Nil (Previous Yesr Nil) Equity Shares are held by subsidiary of holding
company
Nil (Previous Yesr Nil) Equity Shares are held by associates of holding
or ultimate holding company.
1.3 The details of bonus shares issued, shares issued for consideration
otherwise than in cash and shares brought back in preceding five years:
The company has not issued any bonus shares, shares for consideration
otherwise than in cash and has not brought back any shares in year
under review and preceding four years
1.4 Details of Unpaid calls due from Directors 0" officers
There were no unpaid calls due from Directors/Officers of the Company.
2. Previous year's figures are regrouped/rearranged wherever
necessary.
3. There is a diminution in the value of long term investments
(Quoted) held by the company as on 31s' March, 2012 on the basis of
market vaiue thereof as on that date. No provision is considered
necessary in the accounts at this stage, since the company expects such
a decline to be temporary.
4. Balances of sundry debtors and creditors and loans and advances
are subject to reconciliation & confirmation.
5. MICRO AND SMALL SCALE BUSINESS ENTiTlES .
There are no Micro and Small enterprises, to which the company owes
du'es, which are outstanding for more than 45 Days as at 31st March,
2012. This information as required t.o be disclosed under the Micro,-
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the Company. '
6. The company has only one revenue segment - Trading business.
Hence, no separate segment wise information on Revenue, Result and
Capital employed is given.
7. As regards deferred tax as per Accounting Standard (AS-22) on
"Accounting for Taxes on Income" issued by The Institute of Chartered
Accountants of India, since there is a net deferred tax assets as at
year end. Considering the provisions for the AS-22 and as a matter of
prudence, the company has not recognized the said deferred tax assets
while preparing the accounts for the year under Audit.
8. Adoption of accounting standard - 28 on "Impairment of Assets"
issued by The Institute of Chartered Accountants of India, does not
have any material impact on either profit for the year or on the net
assets of the company as at year end.
Mar 31, 2010
1. Previous years figures are regrouped/rearranged wherever
necessary.
2. There is a diminution in the value of long term investments
(Quoted) held by the company as on 31st March, 2010 on the basis of
market value thereof as on that date. No provision is considered
necessary in the accounts at this stage, since the company expects such
a decline to be temporary.
3. - The additional information required to be given pursuant to the
provision of paragraph 3 and 4 the part-ll of Schedule-VI of the
companies Act, 1956 are as under:
Being a trading company, the information as to Licensed and Installed
capacity is not Applicable to the company.
4. Balances of sundry debtors and creditors and loans and advances are
subject to reconciliation & confirmation.
5. MICRO AND SMALL SCALE BUSINESS ENTITIES
.
There are no Micro and Small enterprises, to which the company owes
dues, which are outstanding for more than 45 Days as at 31st March,
2010. This information as required to be disclosed under the Micro.
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the Company.
6 The company has only one revenue segment - Trading business. Hence,
no separate segment wise information on Revenue, Result and Capital
employed is given by
7. As regards deferred tax as per Accounting Standard (AS-22) on
"Accounting for Taxes on Income" issued by The Institute of Chartered
Accountants of India, since there is a not defferred lux assets as at
year and Considering the provisions for the As as a matter
of recognised the and deffered tax assets while preparing the
accounts for the under audit.
8. Related Parties Disclosures (Accounting Standard -18)
(I) Relationships:-
(a) Other related parties whorg control oxists - (i) Krupa Printers
(II) Transaction carried out with related parties referred to in (i)
above are in ordinary course of business.
9. Adoption of accounting standard - 28 on "Impairment of Assets"
issued by The Institute of Chartered Accountants of India, does not
have any material impact on either profit for the year or on the net
assets of the company as at year end.
10. Additional information pursuant to part IV of schedule VI to The
Companies Act. 1956.
Mar 31, 2009
1. Previous years figures are regrouped/rearranged wherever
necessary.
2. Expenditure incurred on employees who are in receipt of
remuneration in the aggregate at the rate of not less then
Rs.24,00,000/- per year or Rs.2,00,000/- per month if employed for the
part of the year.
i. Employed throughout the year Nil
ii. Employed for the part of the year Nil
3. There is a diminution in the value of long term investments
(Quoted) held by the company as on 31st March, 2009 on the basis of
market value thereof as on that date. No provision is considered
necessary in the accounts at this stage, since the company expects such
a decline to be temporary.
4. The additional information required to be given pursuant to the
provision or paragraph 3 and 4 the part-ll of Schedule-VI of the
companies Act, 1956 are as under:
5. Balance of sundry debtors and creditors and loans and advances are
subject to confirmation.
6, MICRO AND SMALL SCALE BUSINESS ENTITIES
There are no Micro and Small enterprises, to which the company owes
dues, which are outstanding for more than 45 Days as at 31s1 March,
2009. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the Company.
7. The company has only one revenue segment - Trading business. Hence,
no separate segment wise information on Revenue, Result and Capital
employed is given
8. Related Parties Disclosures ( Accounting Standard - 13)
(I) Relationships:-
(a) Other related parties where control exists :- (i) Krupa Printers
9. Adaption of accounting standard - 28 on "lmpairment of Assets"
issued by The Insitute of Chartered Accountants of India, does not have
any impact on either profit for the year or on the net assets of the
company as at year end.
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