Notes to Accounts of Aryaman Capital Markets Ltd.

Mar 31, 2018

NOTES To Financial Statements

12. Equity share capital:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Authorised: 1,20,00,000 (31.03.2017: 1,20,00 ,000) Equity Shares of Rs 10 each	1,200.00	1,200.00
Issued, Subscribed and Paid up 1,19,77,126 (31.03.2017: 1,19,77,126 ) Equity Shares of Rs 10 each	1,197.71	1,197.71
Total	1,197.71	1,197.71
Notes: 12.1 Reconciliation of number of shares outstanding at the beginning and end of the year:
Authorised share capital:	No. of shares	Amount
	In Lacs	INR Lacs
Balance as at 31st March, 2016	120.00	1,200.00
Add / (Less): Changes during the year	-	-
Balance as at 31st March, 2017	120.00	1,200.00
Add / (Less): Changes during the year	-	-
Balance as at 31st March, 2018	120.00	1,200.00
1. Issued, Subscribed and Paid up share capital:	No. of shares	Amount
	In Lacs	INR Lacs
Balance as at 31st March, 2016	119.77	1,197.71
Add / (Less): Changes during the year	-	-
Balance as at 31st March, 2017	119.77	1,197.71
Add / (Less): Changes during the year	-	-
Balance as at 31st March, 2018	119.77	1,197.71

The Company has only one class of equity shares having a par value of Rs 10/-. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends if any, in Indian rupees. The dividend proposed, if any, by the Board of Directors is subject to the approval of the Shareholders at the ensuing Annual General Meeting, except in case of interim dividend.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the Shareholders.

12.3 Details of shares held by each shareholder holding more than 5% shares in the Company:

Equity share of Rs 10 each fully paid up with voting rights	Number of fully paid equity shares	Holding (%)
Aryaman Financial Services Limited
As at 31st March, 2017	88,97,126	74.28%
As at 31st March, 2018	88,97,126	74.28%
13. Other Equity:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Securities premium	101.89	101.89
Retained earnings	200.69	151.66
Other Comprehensive income	526.11	468.94
Total	828.69	722.49

12.2 Terms / rights attached to Equity Shares:

13.1 Securities Premium:

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
	INR Lacs	INR Lacs
Balance as at beginning of the year	101.89	101.89
Add/(Less): Movement during the year	-	-
Balance as at end of the year	101.89	101.89
13.2 Retained earnings:
Particulars	Year ended March 31, 2018	Year ended March 31, 2017
	INR Lacs	INR Lacs
Balance as at beginning of the year	151.66	30.86
Profit for the year	49.03	120.80
Balance as at end of the year	200.69	151.66
13.3 Other Comprehensive Income:
Partlculars	Year ended March 31, 2018	Year ended March 31, 2017
	INR Lacs	INR Lacs
Balance as at beginning of the year	468.94	121.34
Add: Movement during the year	57.18	347.60
Balance as at end of the year	526.11	468.94
14. Borrowings - Current:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Borrowings (Unsecured), repayable on demand	1,766.33	-
	Total 1,766.33	-
15. Trade payables:
	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Dues to Micro and Small enterprises	-	-
Dues to Others
- Creditors for expense	1.81	2.15
- Other payables	4.61	3.55
	Total 6.42	5.70

Footnote: A) The information regarding Micro Enterprises and Small Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.

16. Other current financial liabilities:

Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Conveyance Payable	0.02	0.03
Director Sitting Fees Payable	0.35	0.15
BSE General Charges Payable	1.12	0.86
	Total 1.49	1.04

17. Other current liabilities:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Advances received from Customers	39.92	30.20
IDS payable	6.07	0.08
Total	45.99	30.28
18. Revenue From Operations:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Income from Brokerage, Commissions and other fees earned	68.85	24.52
Income from Investments	260.70	89.99
Income from Interest	14.63	23.84
Income from Dividend	0.96	-
Sales (Stock in Trade)	2,475.78	2,146.38
Total	2,820.92	2,284.73
19. Employee Benefit Expense:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs .
Salaries, wages and bonus	4.77	4.32
Staff welfare expenses	1.40	0.56
Total	6.17	4.88
20. Finance Cost:
Particulars	As at March 31,2018	As at March 31, 2017
	INR Lacs	INR Lacs
Interest Expenses on:
Borrowings	59.97	0.46
Other borrowing costs (includes fees charged by banks for renewal of sanctioned limits, lead bank charges, etc)	0.02	0.02
Total	59.99	0.48
21. Depreciation and amortisation expense:.
• Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Depreciation of property, plant and equipment (Refer note 2)	1.78	0.84
Amortisation of intangible assets (Refer note 2)	-	0.01
IPO Expenses amortised	5.29	5.28
Total	7.07	6.13
22. Other Expenses:
Particulars	As at March 31, 2018	As at March 31, 2017
	INR Lacs	INR Lacs
Market making Fees	1.25	1.20
Processing Fees/Application Fees	2.41	0.05
Auditors Remuneration	-	-
-Audit Fees	0.40	0.40
-Internal Financial Control	-	0.10
-Limited Review.	0.08	0.24
Director''s Sitting Fees	1.00	1.09
Securities Premium	1.25	1.06
Share Trading Expenses/Charges	8.58	7.65
Custodial Fees	1.10	0.90
General Expenses	3.15	3.70
Professional Charges	0.64	1.06
Communication expenses	1.17	0.52
Other Expenses	4.76	3.20
	Total 25.78	21.17
23. Income taxes: (a) Tax expense recognised in the Statement of profit and loss:
Particulars	For the year ended March 31, 2018	For the year ended March 31, 2017
INR Lacs	MR Lacs ,
Current tax
Current year	9.29	32.84
Total current tax	9.29	32.84
Deferred tax
Relating to origination and reversal of temporary difference	0.72	0.52
Total deferred income tax expense/(credit)	0.72	0.52
Mat tax Credit	(9.29)	-
Total income tax expense/(credit)	0.72	33.36

Reconciliation between the statutory income tax rate applicable to the Company and the effective income tax rate of the Company is as follows:

(b) Reconciliation of effective tax rate:

Particulars	For the year ended March 31, 2018		For the year ended March 31, 2017
	INR Lacs		INR Lacs
Profit /(loss) before taxation	49.75		154.17
Enacted income tax rate in India	27.55%		33.06%
Tax at the enacted income tax rate	13.71		50.97
Reconciliation line items:
Exempt Income	-		7.62
MAT tax credit	9.29		-
Taxable at special rate	3.70		9.57
Others			(0.42)
Tax expense/ (credit)	0.72		33.36
(c) The movement in deferred tax assets and liabilities during the year ended March 31, 2018 and March 31, 2017:
Particulars	As at April 01, 2016	Credit/ (charge) in Statement of profit and loss	As at March 31, 2017
	INR Lacs	INR Lacs	INR Lacs
Deferred tax assets/(liabilities)
On Account of Depreciation	3.81	0.52	4.33
	3.81	0.52	4.33
Deferred tax assets/(liabilities)
On Account of Depreciation	4.33	0.72	5.06
Tax on fair valuation of Investments	-	4.60	4.60
	4.33	5.32	9.66

The Company is evaluating the requirement of the amendment and the impact on the financial statements. The effect on adoption of Ind AS 115 is expected to be insignificant”.

32. The financial statements were approved for issue by the Board of Directors on 29th May 2018.

33. The figures of the previous year''s have been regrouped or reclassified wherever necessary to make them comparable

In terms of our attached report of even date

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Mar 31, 2015

1. In view of the number of employees being below the stipulated numbers, the Payment of Gratuity Act is not applicable to the company for the year. The same is the case with respect to payment of Bonus Act.

2. The useful life of Fixed Assets has been revised in accordance with Schedule II to the Companies Act 2013 which is applicable for accounting period commencing on or after 1st April 2014. Consequently a sum of Rs. 0.25 lac being the carrying amount net of residual value of fixed assets. In other case carrying amount has been depreciated over the remaining useful life of the assets and the effect on the profit is not material.

3. RELATED PARTY DISCLOSURES:

As per Accounting Standard 18, the disclosures are as under:

I List of related parties where control exists:

Details of Related Parties

Sr. No. Category Name of the Related Party/ Relationship

I Ultimate Holding Company: Mahshri Enterprises Pvt Ltd

Holding Company Aryaman Financial Services Ltd

Associates Companies Overskud Multi Assets Management Pvt Ltd

Nopea Capital Services Pvt Ltd Escorp Financial Services Pvt Ltd Vardhman Investment

Key Managerial Personnel : Shripal Shah

Shreyas Shah

Key Managerial Personnel's -: Shrenik Shah (Father)

Relatives Roopa Shah (Mother)

Meloni Shah (Wife)