A Oneindia Venture
Click it and Unblock the Notifications
Accounting Policies of Mantra Capital Ltd. Company
Mar 31, 2025
Material Accounting Policies
2.1 Presentation of financial statements:
Statement of Compliance -
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Tnd AS'') notified under section 133
of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 and subsequent amendments thereto
along with other provisions of the Act and the Master Directions - Non-Banking Financial Company (Reserve Bank ) Directions, 2016 (''the NBFC
Master Directions'') issued by RBI.
a) Basis of Preparation:
The Company presents its financial statements to comply with Division III of Schedule III to the Companies Act, 2013 (which provides general
instructions for the preparation of financial statements of a non-banking financial company (NBFC to comply with Ind AS) and the requirements of
Ind AS. The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and
relevant amendment rules issued thereafter.
These financial statements have been prepared and presented on a going concern basis, under the historical cost convention, on the accrual basis of
accounting except for certain financial assets and financial liabilities that are measured at fair values at the end of each reporting period, as stated in
the accounting policies set out below.
The financial statements do not provide disclosures where the information resulting from that disclosure is not material. However, the financial
statements provide disclosures of all items required by law even if the information resulting from that disclosure is considered to be not material.
The financial statements are authorised for issue by the Board of Directors of the Company at their meeting held on 5th May, 2025.
b) Current and Non-Current classification
The Company presents its Balance Sheet in the order of Hquidity as per the requirements of Division III of Schedule III to the Companies Act, 2013. It
does not require to classify its assets or liabilities under the headings of current or non-current.
The Company generally reports financial assets and financial liabilities on a gross basis in the Balance Sheet. They are offset and reported net only
when Ind AS specifically permits the same or it has an unconditional legally enforceable right to offset the recognised amounts without being
contingent on a future event. Similarly, the Company offsets incomes and expenses and reports the same on a net basis when permitted by Ind AS
specifically unless they are material in nature.
c) Use of Estimates and judgment
The preparation of financial statements, in conformity, with the Ind AS requires the management to make judgement, estimates and assumptions
about the carrying amount of assets and liabilities, revenue and expenses, contingent liabilities and the accompanying disclosures, as of the date of
the financial statements, that are not readily apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant and are prudent and reasonable. Actual results may differ from those estimates. The
estimates and underlying assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognised in the period in which the
estimates are revised if revision affects only that period or in the period of revision and future periods if the revision affects both current and future
periods.
i. Income Taxes:
Significant judgement is required in determining the amount for income tax expenses. There are many transactions and positions for which the
ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome is different from the amount that were
initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made.
ii. Impairment of Non-financial Assets:
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual
impairment testing for an asset is required, the Company estimates the asset''s recoverable amount. An assets recoverable amount is higher of assets
or CGU''s fair value less costs of disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash inflows
that are largely independent of those from other asset or group of assets. Where carrying amount of an asset or CGU exceeds its recoverable amount,
the asset is considered as impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flow are
discounted to their present value using pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific
asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an
appropriate valuation model is used. These calculations are corroborated by valuation multiples or other available fair value indicators.
iii. Impairment of Financial assets
The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement
in making these assumptions and selecting the inputs to the impairment calculation, based on Company''s past history, existing market conditions as
well as forward looking estimates at the end of each reporting period.
iv. Fair Value Measurement of Financial Instrument
When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active
markets, their fair value is measured using valuation techniques including the Discounted Cash Flow (DCF) model. The inputs to these models are
taken from observable markets possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements
include considerations of inputs such as hquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported
fair value of financial instruments.
v. Deferred Tax
Recognition of deferred tax assets Availability of future taxable profit against which the tax losses carried forward can be used.
vi. Recognition and Measurement of Provisions and Contingencies
Key assumptions about the likelihood and magnitude of an outflow of resources.
2.2 Property, Plant & Equipment (PPE)
i. Recognition and measurement
All other items of PPE are measured at cost less accumulated depreciation and any accumulated impairment losses, if any.
The cost of an item of PPE comprises:
a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.
b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended
by management.
Income and expenses related to the incidental operations, not necessary to bring the item to the location and condition necessary for it to be capable
of operating in the manner intended by management, are recognised in profit or loss.
Any gain or loss on disposal of an item of PPE is recognised in profit and loss.
Right of Use Assets (ROU): The Company as a lessee records an ROU asset for each lease with an original term greater than 12 months. ROU assets
include Office premises, with the corresponding lease liabilities disclosed in the financial liabilities. Depreciation on ROU asset is being charged on
the basis of lease term.
ii. Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the
Company.
iii. Depreciation
Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value.
Depreciation on PPE (other than leasehold land) has been provided based on useful life of the assets in accordance with Schedule II to the Companies
Act, 2013, on Straight Line Method.
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
2.4 Leases
i. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the
right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to
control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has
substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of
the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU") and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value leases. For these short¬
term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.
Certain lease arrangements include the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities
includes these options when it is reasonably certain that they will be exercised.
The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease Lability adjusted for any lease payments made
at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less
accumulated depreciation and impairment losses.
ii. Short-term leases and leases of low-value assets
The Company applies the short-term lease recognition exemption to its short-term leases of rented premises (i.e., those leases that have a lease term
of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition
exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are
recognised as expense on a straight-line basis over the lease term.
2.5 Fair Value Measurements
The Company has an established control framework with respect to the measurement of fair values. The management regularly reviews significant
unobservable inputs and valuation adjustments.
All financial assets and financial liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair
value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
Level 1 â Quoted (unadjusted) market prices in active markets for identical assets or liabilities;
Level 2 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable,
or
Level 3 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has
occurred.
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual provisions of
the instrument.
Financial assets:
A financial asset inter-alia includes any asset that is cash, equity instrument of another entity and a financial liability or equity instrument of another
entity. The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual
provisions of the instrument.
Initial recognition and measurement
All financial assets are recognised initially at fair value including transaction costs that are attributable to the acquisition of financial assets except in
the case of financial assets recorded at FVTPL where the transaction costs.
Subsequent measurement
For purposes of subsequent measurement financial assets are classified in three categories:
⢠Financial asset measured at amortised cost
⢠Financial asset at fair value through OCI
⢠Financial assets at fair value through profit or loss
Financial assets measured at amortised cost
Financial assets are measured at amortised cost if the financial asset is held within a business model whose objective is to hold financial assets in
order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows are solely payments of
principal and interest on the principal amount outstanding. These financial assets are amortised using the effective interest rate (EIR) method, less
impairment. 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 in finance income in the statement of profit and loss. The losses arising from impairment are recognised in
the statement of profit and loss in finance costs.
Financial assets at fair value through OCI (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if the financial asset is held within a business model whose objective
is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified
dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. At initial recognition, an irrevocable
election is made (on an instrument-by-instrument basis) to designate investments in equity instruments other than held for trading purpose at
FVTOCI. Fair value changes are recognised in the other comprehensive income (OCI). However, the Company recognises interest income,
impairment losses and reversals and foreign exchange gain or loss in the income statement. On derecognition of the financial asset other than equity
instruments, cumulative gain or loss previously recognised in OCI is reclassified to income statements.
Financial assets at fair value through profit or loss (FVTPL)
Any financial asset that does not meet the criteria for classification as at amortised cost or as financial assets at fair value through other
comprehensive income, is classified as financial assets at fair value through profit or loss. Further, financial assets at fair value through profit or loss
also include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss. Financial
assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Financial assets at fair value
through profit or loss are fair valued at each reporting date with all the changes recognised in the Statement of profit and loss.
De-recognition of financial assets
The Company derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset
and substantially all the risks and rewards of ownership of the asset to another entity. If the Company neither transfers nor retains substantially all
the risks and rewards of ownership of the financial asset and continues to control the transferred asset, the Company recognises its retained interest
in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of
a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralized borrowing for the proceeds
receivables.
The Company measures the expected credit loss associated with its assets based on historical trend, industry practices and the business environment
in which the entity operates or any other appropriate basis. The impairment methodology applied depends on whether there has been a significant
increase in credit risk.
Significant increase in credit risk
The Company monitors all financial assets, issued irrevocable loan commitments and financial guarantee contracts that are subject to the impairment
requirements to assess whether there has been a significant increase in credit risk since initial recognition. If there has been a significant increase in
credit risk the Company will measure the loss allowance based on lifetime rather than twelve-months ECL. The Company''s accounting policy is not
to use the practical expedient that financial assets with Tow'' credit risk at the reporting date are deemed not to have had a significant increase in
credit risk. As a result, the Company monitors all financial assets, issued irrevocable loan commitments and financial guarantee contracts that are
subject to impairment for significant increase in credit risk.
In assessing whether the credit risk on a financial instrument has increased significantly since initial recognition, the Company compares the risk of a
default occurring on the financial instrument at the reporting date based on the remaining maturity of the instrument with the risk of a default
occurring that was anticipated for the remaining maturity at the current reporting date when the financial instrument was first recognised. In
making this assessment, the Company considers both quantitative and qualitative information that is reasonable and supportable, including
historical experience and forward-looking information that is available without undue cost or effort, based on the Company''s historical experience
and expert credit assessment.
Given that a significant increase in credit risk since initial recognition is a relative measure, a given change, in absolute terms, in the probability of
default (PD) will be more significant for a financial instrument with a lower initial PD than compared to a financial instrument with a higher PD.
Definition of Default
Critical to the determination of ECL is the definition of default. The definition of default is used in measuring the amount of ECL and in the
determination of whether the loss allowance is based on 12-month or lifetime ECL, as default is a component of the probability of default (PD) which
affects both the measurement of ECLs and the identification of a significant increase in credit risk.
The Company considers the following as constituting an event of default:
- the borrower is past due more than 90 days on any material credit obligation to the Company; or
- the borrower is unlikely to pay its credit obligations to the Company in full.
The definition of default is appropriately tailored to reflect different characteristics of different types of assets.
When assessing if the borrower is unlikely to pay its credit obligation, the Company takes into account both qualitative and quantitative indicators.
The information assessed depends on the type of the asset, for example in corporate lending a qualitative indicator used is the admittance of
bankruptcy petition by National Company Law Tribunal (NCLT), which is not relevant for retail lending. Quantitative indicators, such as overdue
status and non-payment on another obligation of the same counterparty are key inputs in this analysis. The Company uses a variety of sources of
information to assess default which are either developed internally or obtained from external sources. The definition of default is applied consistently
to all financial instruments unless information becomes available that demonstrates that another default definition is more appropriate for a
particular financial instrument.
Write-off
Loans and debt securities are written-off when the Company has no reasonable expectations of recovering the financial asset (either in its entirety or
a portion of it). This is the case when the Company determines that the borrower does not have assets or sources of income that could generate
sufficient cash flows to repay the amounts subject to the write-off. A write-off constitutes a derecognition event. The Company may apply
enforcement activities to financial assets written off. Recoveries resulting from the Company''s enforcement activities will result in impairment gains.
Presentation of allowance for ECL in the Balance Sheet
Loss allowances for ECL are presented in the Balance Sheet as follows:
for financial assets measured at amortised cost: as a deduction from the gross carrying amount of the assets;
Financial liabilities and Equity:
Classification as debt or Equity
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered
into and the definitions of a financial liability and an equity instrument.
Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity
instruments are recorded at the proceeds received, net of direct issue costs.
Financial liabilities
The Company''s financial liabilities include loans and borrowings including trade payables, accrued expenses and other payables.
Initial Recognition and measurement
All financial liabilities at initial recognition are classified as financial liabilities at amortised cost or financial liabilities at fair value through profit or
loss, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly
attributable transaction costs. Any difference between the proceeds (net of transaction costs) and the fair value at initial recognition is recognised in
the Statement of Profit and Loss or in the "Expenditure Attributable to Construction" if another standard permits inclusion of such cost in the
carrying amount of an asset over the period of the borrowings using the effective rate of interest.
Subsequent measurement
After initial recognition, all financial liabilities are subsequently measured at amortised cost using the EIR.
Any gains or losses arising on derecognition of Labilities are recognised in the Statement of Profit and Loss.
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged/cancelled/expired. 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.
Offsetting of financial instruments
Financial assets and liabilities are offset and net amount is reported if there is currently enforceable legal right to offset the recognised amounts and
there is intention to settle on a net basis, to realise assets and settle the liabilities simultaneously.
Functional and Presentation Currency
The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the currency of the primary economic
environment in which the Company operates.
2.7 Impairment of Non-Financial Assets
Property, plant or equipment and intangible assets with finite life are evaluated for recoverability whenever there is any indication that their carrying
amount may not be recoverable. If any such indication exists, the recoverable amount (i.e. higher of the fair value less cost to sell and the value in
use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent to those from other assets.
The Carrying Amount of Assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/external factors. An
asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss, if any, is charged to Statement of
Profit and Loss in the year in which an asset is identified as impaired. Reversal of impairment losses recognized in prior years is recorded when there
is an indication that the impairment losses recognized for the assets no longer exists or have decreased.
2.8 Share Capital and Securities Premium
Ordinary Shares
Proceeds from issuance of ordinary shares are classified as share capital in equity. Incremental costs directly attributable to the issue of new shares
are shown in equity as a deduction net of tax from the proceeds. Par value of the equity share is recorded as share capital and the amount received in
excess of the par value is classified as share premium.
Securities Premium
Balance of Securities premium consist of issue of share over its face value. The balance has been utilised for issue of as per provisions of Section 52 of
the Companies Act, 2013 and adjusted against Expenses incurred against issue of Right Equity Shares.
2.9 Cash Flows and Cash and Cash Equivalents
Statement of cash flows is prepared in accordance with the indirect method prescribed in the relevant Ind AS. For the purpose of presentation in the
statement of cash flows, Cash and cash equivalents include cash on hand, other short term, highly liquid investments with original maturities of
three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
2.10 Income Tax
Income tax expense represents the stun of tax currently payable and deferred tax. Tax is recognised in the Statement of Profit and Loss, except to the
extent that it relates to the items recognised directly in equity or in other comprehensive income.
Current Income Tax
Current tax includes provision for Income Tax computed under special provision (i.e. Minimum Alternate Tax) or normal provision of Income Tax
Act provisions. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities
on the basis of estimated taxable Income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted,
at the reporting date.
Deferred Tax
Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and their corresponding
tax bases (known as temporary differences). Deferred tax liabilities are recognised for all temporary differences that are expected to increase taxable
profit in the future.
Deferred tax assets are recognised for all temporary differences that are expected to reduce taxable profit in the future, and any unused tax losses or
unused tax credits. Deferred tax assets are measured at the highest amount that, on the basis of current or estimated future taxable profit, is more
likely than not to be recovered. The net carrying amount of deferred tax assets is reviewed at each reporting date and is adjusted to reflect the current
assessment of future taxable profits. Any adjustments are recognised in profit or loss.
Deferred tax is calculated at the tax rates that are expected to apply to the taxable profit (tax loss) of the periods in which it expects the deferred tax
asset to be realised or the deferred tax liability to be settled, on the basis of tax rates that have been enacted or substantively enacted by the end of the
reporting period.
Deferred Tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and
when they relate to the income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a
net basis.
In the event of unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets are recognized to the extent that it is probable
that sufficient future taxable income will be available to realise such assets.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against which the temporary difference
can be utilised.
2.11 Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured
regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account
contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.
The specific recognition criteria described below must also be met before the revenue is recognised.
Interest income on financial assets measured at amortised cost is recognised on time proportion basis, using effective interest method. Interest on
financial assets subsequently measured at fair value through profit or loss (FVTPL) is recognised at the contractual rate of interest.
Dividend income is recognised when the Company''s right to receive dividend is established.
The Company designates certain financial assets for subsequent measurement at fair value through profit or loss (FVTPL). The Company recognises
gains on fair value change of financial assets measured at FVTPL and realised gains on derecognition of financial asset measured at FVTPL on net
basis in profit or loss.
The Company recognises income on recoveries of financial assets written off on realisation or when the right to receive the same without any
uncertainties of recovery is established .
Contract assets relate primarily to the Company''s rights to consideration for work completed but not billed at each reporting date. Contract assets are
transferred to receivables when the rights become unconditional. This usually occurs when the Company issues an invoice to a customer.
2.12 Retirement and other employee benefits
i. The Company operates both defined benefit and defined contribution schemes for its employees.
For defined contribution schemes the amount charged as expense is equal to the contributions paid or payable when employees have rendered
services entitling them to the contributions.
For defined benefit plans, actuarial valuations are carried out at each balance sheet date using the Projected Unit Credit Method. All such plans are
funded.
All expenses represented by current service cost, past service cost, if any, and net interest on the defined benefit liability/ (asset) are recognized in the
Statement of Profit and Loss. Remeasurements of the net defined benefit liability/ (asset) comprising actuarial gains and losses (excluding interest on
the net defined benefit liability/ (asset)) are recognised in Other Comprehensive Income (OCI). Such remeasurements are not reclassified to the
statement of profit and loss, in the subsequent periods.
Short term employee benefits: All employee benefits payable wholly within twelve months of rendering the service are classified as short term
employee benefits and they are recognized in the period in which the employee renders the related service. The Company recognizes the
undiscounted amount of short term employee benefits expected to be paid in exchange for services rendered as a liability.
The costs of providing pensions and other post-employment benefits are charged to the Statement of Profit and Loss in accordance with Ind AS 19
''Employee benefits'' over the period during which benefit is derived from the employees'' services. The costs are assessed on the basis of assumptions
selected by the management. These assumptions include salary escalation rate, discount rates, expected rate of return on assets and mortality rates.
The same is disclosed in Note No. 46 ''Employee Benefit Obligations''.
2.13 Finance Cost
Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds and is measured with reference to
the effective interest rate applicable to the respective borrowings.
2.14 Earnings Per Share
Basic Earnings per share is computed by dividing the profit from continuing operations and total profits, both attributable to equity shareholders of
the Company by the weighted average number of equity shares outstanding during the period. Diluted earnings per share are computed using the
weighted average number of equity and dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive.
Mar 31, 2024
Note No. 1
Corporate information:
Savani Financials Limited (hereinafter referred to as ''Company'') was incorporated under the Companies Act, 1956 on 21/12/1983 by the name of ''Savani Investment and Leasing Limited'' in the state of Maharashtra. Subsequently on 18/05/1987 the name was changed to ''Savani Freight and Finance Limited'' and on 14/10/1993 to ''Savani Financials Limited''.
The Company is registered with the Reserve Bank of India as a Non-Deposit Accepting-Non-Banking Financial Company (NBFC) vide registration no.13.01071 dated 27th October,1998.
It is a Non-Banking Financial Services Company engaged in the sole business segment of investment and financial services. RBI, vide the circular - ''Harmonisation of different categories of NBFCs'' issued on 22 February 2019, with a view to provide NBFCs with greater operational flexibility and harmonisation of different categories of NBFCs into fewer categories based on the principle of regulation by activity, merged the three categories of NBFCs viz. Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs) into a new category called NBFC - Investment and Credit Company (NBFC-ICC). Accordingly, the Company has been reclassified as NBFC Investment and Credit
It is listed on the Bombay Stock Exchange.
The registered office is located at 602, Samarth Vaibhav Co-op Hsg Society Ltd, Off Link Road, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra.
Note No. 2
Material Accounting Policies
2.1 Presentation of financial statements:
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (''Ind AS'') notified under section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 and subsequent amendments thereto.
a) Basis of Preparation:
The Company presents its financial statements to comply with Division III of Schedule III to the Companies Act, 2013 (which provides general instructions for the preparation of financial statements of a non-banking financial company (NBFC to comply with Ind AS) and the requirements of Ind AS. The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.
These financial statements have been prepared and presented on a going concern basis, under the historical cost convention, on the accrual basis of accounting except for certain financial assets and financial liabilities that are measured at fair values at the end of each reporting period, as stated in the accounting policies set out below.
An analysis regarding recovery or settlement within 12 months after the reporting date (current) and more than 12 months after the reporting date (non-current) is presented in note no. 31.
The financial statements do not provide disclosures where the information resulting from that disclosure is not material. However, the financial statements provide disclosures of all items required by law even if the information resulting from that disclosure is considered to be not material.
The financial statements are authorised for issue by the Board of Directors of the Company at their meeting held on 16 th May, 2024.
b) Current and Non-Current classification
The Company presents its Balance Sheet in order of liquidity.
The Company generally reports financial assets and financial liabilities on a gross basis in the Balance Sheet. They are offset and reported net only when Ind AS specifically permits the same or it has an unconditional legally enforceable right to offset the recognised amounts without being contingent on a future event. Similarly, the Company offsets incomes and expenses and reports the same on a net basis when permitted by Ind AS specifically unless they are material in nature.
c) Use of Estimates and judgment
The preparation of financial statements, in conformity, with the Ind AS requires the management to make judgement, estimates and assumptions about the carrying amount of assets and liabilities, revenue and expenses, contingent liabilities and the accompanying disclosures, as of the date of the financial statements, that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant and are prudent and reasonable. Actual results may differ from those estimates. The estimates and underlying assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.
The few critical estimations and judgments made in applying accounting policies are:
i. Income Taxes:
Significant judgement is required in determining the amount for income tax expenses. There are many transactions and positions for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome is different from the amount that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made.
ii. I mpairment of Non-financial Assets:
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset''s recoverable amount. An assets recoverable amount is higher of assets or CGU''s fair value less costs of disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other asset or group of assets. Where carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered as impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flow are discounted to their present value using pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other available fair value indicators.
iii. Impairment of Financial assets
The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.
iv. Fair Value Measurement of Financial Instrument
When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow (DCF) model. The inputs to these models are taken from observable markets possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.
v. Deffered Tax
Recognition of deferred tax assets Availability of future taxable profit against which the tax losses carried forward can be used.
vi. Recognition and Measurement of Provisions and Contingencies
Key assumptions about the likelihood and magnitude of an outflow of resources.
2.2 Property, Plant & Equipment (PPE)
i. Recognition and measurement
All other items of PPE are measured at cost less accumulated depreciation and any accumulated impairment losses, if any.
The cost of an item of PPE comprises:
a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.
b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Income and expenses related to the incidental operations, not necessary to bring the item to the location and condition necessary for it to be capable of operating in the manner intended by management, are recognised in profit or loss.
Any gain or loss on disposal of an item of PPE is recognised in profit and loss.
ii. Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.
iii. Depreciation
Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value.
Depreciation on PPE (other than leasehold land) has been provided based on useful life of the assets in accordance with Schedule II to the Companies Act, 2013, on Straight Line Method.
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
Profit and loss on disposals are determined by comparing proceeds with carrying amount. These are included in statement of profit and loss.
2.3 Intangible assets
Intangible assets comprise application software purchased, which are not an integral part of the related hardware, and are amortized on a straight line basis over a period of 3 years, which in Management''s estimate represents the period during which the economic benefits will be derived from their use.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific to which it relates.
2.4 Intangible assets under Development
The Company is redesigning its website and same is in under development.
2.5 Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual provisions of the instrument.
Financial assets:
A financial asset inter-alia includes any asset that is cash, equity instrument of another entity and a financial liability or equity instrument of another entity. The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual provisions of the instrument.
Initial recognition and measurement
All financial assets are recognised initially at fair value including transaction costs that are attributable to the acquisition of financial assets except in the case of financial assets recorded at FVTPL where the transaction costs.
Subsequent measurement
For purposes of subsequent measurement financial assets are classified in three categories:
⢠Financial asset measured at amortised cost
⢠Financial asset at fair value through OCI
⢠Financial assets at fair value through profit or loss
Financial assets measured at amortised cost
Financial assets are measured at amortised cost if the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows are solely payments of principal and interest on the principal amount outstanding. These financial assets are amortised using the effective interest rate (EIR) method, less impairment. 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 in finance income in the statement of profit and loss. The losses arising from impairment are recognised in the statement of profit and loss in finance costs.
Financial assets at fair value through OCI (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. At initial recognition, an irrevocable election is made (on an instrument-by-instrument basis) to designate investments in equity instruments other than held for trading purpose at FVTOCI. Fair value changes are recognised in the other comprehensive income (OCI). However, the Company recognises interest income, impairment losses and reversals and foreign exchange gain or loss in the income statement. On derecognition of the financial asset other than equity instruments, cumulative gain or loss previously recognised in OCI is reclassified to income statements.
Financial assets at fair value through profit or loss (FVTPL)
Any financial asset that does not meet the criteria for classification as at amortised cost or as financial assets at fair value through other comprehensive income, is classified as financial assets at fair value through profit or loss. Further, financial assets at fair value through profit or loss also include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Financial assets at fair value through profit or loss are fair valued at each reporting date with all the changes recognised in the Statement of profit and loss.
De-recognition of financial assets
The Company derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Company neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset and continues to control the transferred asset, the Company recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralized borrowing for the proceeds receivables.
Impairment of financial assets
The Company assesses impairment based on expected credit loss (ECL) model on the following:
⢠Financial assets that are measured at amortised cost.
. Financial assets measured at fair value through other comprehensive income (FVTOCI)
ECL is measured through a loss allowance on a following basis:-
⢠The 12 month expected credit losses (expected credit losses that result from all possible default events on the financial instruments that are possible within 12 months after the reporting date);
⢠Full life time expected credit losses (expected credit losses that result from all possible default events over the life of financial instruments);
The company follows ''simplified approach'' for recognition of impairment on trade receivables or contract assets resulting from normal business transactions. The application of simplified approach does not require the Company to track changes in credit risk. However, it re cog nises impairment loss allowance based on lifetime ECLs at each reporting date, from the date of initial recognition.
For recognition of impairment loss on other financial assets, the Company determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk has increased significantly, lifetime ECL is provided. For assessing increase in credit risk and impairment loss, the Company assesses the credit risk characteristics on instrument-by-instrument basis.
ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR.
Impairment loss allowance (or reversal) recognised during the period is recognised as expense/income in the statement of profit and loss. Financial liabilities and equity:
Classification as debt or equity
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.
Financial liabilities
The Company''s financial liabilities include loans and borrowings including trade payables, accrued expenses and other payables.
Initial Recognition and measurement
All financial liabilities at initial recognition are classified as financial liabilities at amortised cost or financial liabilities at fair value through profit or loss, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. Any difference between the proceeds (net of transaction costs) and the fair value at initial recognition is recognised in the Statement of Profit and Loss or in the "Expenditure Attributable to Construction" if another standard permits inclusion of such cost in the carrying amount of an asset over the period of the borrowings using the effective rate of interest.
Subsequent measurement
After initial recognition, all financial liabilities are subsequently measured at amortised cost using the EIR.
Any gains or losses arising on derecognition of liabilities are recognised in the Statement of Profit and Loss.
A financial liability is derecognised when the obligation under the liability is discharged/cancelled/expired. 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.
Offsetting of financial instruments
Financial assets and liabilities are offset and net amount is reported if there is currently enforceable legal right to offset the recognised amounts and there is intention to settle on a net basis, to realise assets and settle the liabilities simultaneously.
Functional and Presentation Currency
The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the currency of the primary economic environment in which the Company operates.
2.6 Share Capital and Share Premium Ordinary Shares
Proceeds from issuance of ordinary shares are classified as share capital in equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction net of tax from the proceeds. Par value of the equity share is recorded as share capital and the amount received in excess of the par value is classified as share premium.
2.7 Cash Flows and Cash and Cash Equivalents
Statement of cash flows is prepared in accordance with the indirect method prescribed in the relevant Ind AS. For the purpose of presentation in the statement of cash flows, Cash and cash equivalents include cash on hand, other short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
2.8 Income Tax
Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to the items recognised directly in equity or in other comprehensive income.
Current Income Tax
Current tax includes provision for Income Tax computed under special provision (i.e. Minimum Alternate Tax) or normal provision of Income Tax Act provisions. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities on the basis of estimated taxable Income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Deffered Tax
Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and their corresponding tax bases (known as temporary differences). Deferred tax liabilities are recognised for all temporary differences that are expected to increase taxable profit in the future.
Deferred tax assets are recognised for all temporary differences that are expected to reduce taxable profit in the future, and any unused tax losses or unused tax credits. Deferred tax assets are measured at the highest amount that, on the basis of current or estimated future taxable profit, is more likely than not to be recovered. The net carrying amount of deferred tax assets is reviewed at each reporting date and is adjusted to reflect the current assessment of future taxable profits. Any adjustments are recognised in profit or loss.
Deferred tax is calculated at the tax rates that are expected to apply to the taxable profit (tax loss) of the periods in which it expects the deferred tax asset to be realised or the deferred tax liability to be settled, on the basis of tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to the income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.
In the event of unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets are recognized to the extent that it is probable that sufficient future taxable income will be available to realise such assets.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised.
2.9 Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.
The specific recognition criteria described below must also be met before the revenue is recognised.
Interest Income
Interest income on financial assets measured at amortised cost is recognised on time proportion basis, using effective interest method. Interest on financial assets subsequently measured at fair value through profit or loss (FVTPL) is recognised at the contractual rate of interest.
2.10 Earning Per Share
Basic Earnings per share is computed by dividing the profit from continuing operations and total profits, both attributable to equity share holders of the Company by the weighted average number of equity shares outstanding during the period. Diluted earnings per share are computed using the weighted average number of equity and dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive.
2.11 Provisions, Contingent Liabilities, Contingent Assets
Provisions are recognised when the Company has a present or constructive obligation as a result of past events, when it is probable (i.e. more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of the amount can be made. Provisions are reviewed at the end of each financial reporting period and adjusted to reflect the current best estimate. When the Company expects some or all of the provision to be reimbursed, the reimbursement is recognised as a standalone asset only when the reimbursement is virtually certain.
Where effect of the time value of money is material, the provision is the present value of the estimated expenditure required to settle the obligation.
A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by the occurrence of one or more uncertain future events not wholly within the control of the Company. It can also be a present obligation arising from past events that is not recognised because it is not probable that outflow of economic resources will be required or the amount of obligation cannot be measured reliably.
A contingent liability is not recognised but is disclosed in the notes to the financial information. When a change in the probability of an outflow occurs so that the outflow is probable, it will then be recognised as a provision.
A contingent asset is a probable asset that arises from past events and whose existence will be confirmed only by the occurrence or nonoccurrence of one or more uncertain events not wholly within the control of the Company. The Company does not recognise contingent assets but discloses their existence where inflows of economic benefits are probable, but not virtually certain.
Provisions for onerous contracts are recognised 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.
2.12 Recent Accounting Pronouncements
Ministry of Corporate Affairs (MCA) notifies new standards or ammendments to the existing standards under Companies ( Indian Accounting Standards ) Rules as issued from time to time. During the year ended 31st March, 2024 MCA had not notified any new standards, or ammendment to existing standards applicable to the company.
Mar 31, 2023
2 Significant Accounting Policies
2.1 Presentation of financial statements:
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (''Ind AS'') notified under section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 and subsequent amendments thereto.
a) Basis of Preparation:
The Company presents its financial statements to comply with Division III of Schedule III to the Companies Act, 2013 (which provides general instructions for the preparation of financial statements of a non-banking financial company (NBFC to comply with Ind AS) and the requirements of Ind AS. The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.
These financial statements have been prepared and presented on a going concern basis, under the historical cost convention, on the accrual basis of accounting except for certain financial assets and financial liabilities that are measured at fair values at the end of each reporting period, as stated in the accounting policies set out below.
An analysis regarding recovery or settlement within 12 months after the reporting date (current) and more than 12 months after the reporting date (non-current) is presented in note no. 23.
The financial statements do not provide disclosures where the information resulting from that disclosure is not material. However, the financial statements provide disclosures of all items required by law even if the information resulting from that disclosure is considered to be not material.
The financial statements are authorised for issue by the Board of Directors of the Company at their meeting held on 10th May, 2023.
b) Current versus non-current classification
The Company presents its Balance Sheet in order of liquidity.
The Company generally reports financial assets and financial liabilities on a gross basis in the Balance Sheet. They are offset and reported net only when Ind AS specifically permits the same or it has an unconditional legally enforceable right to offset the recognised amounts without being contingent on a future event. Similarly, the Company offsets incomes and expenses and reports the same on a net basis when permitted by Ind AS specifically unless they are material in nature.
c) Use of Estimates and judgment
The preparation of financial statements, in conformity, with the Ind AS requires the management to make judgement, estimates and assumptions about the carrying amount of assets and liabilities, revenue and expenses, contingent liabilities and the accompanying disclosures, as of the date of the financial statements, that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant and are prudent and reasonable. Actual results may differ from those estimates. The estimates and underlying assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.
The few critical estimations and judgments made in applying accounting policies are:
i. Income Taxes:
Significant judgement is required in determining the amount for income tax expenses. There are many transactions and positions for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome is different from the amount that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made.
ii. Impairment of Non-financial Assets:
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset''s recoverable amount. An assets recoverable amount is higher of assets or CGU''s fair value less costs of disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other asset or group of assets. Where carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered as impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flow are discounted to their present value using pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other available fair value indicators.
iii. Impairment of Financial assets
The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.
iv. Fair Value Measurement of Financial Instruments
When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow (DCF) model. The inputs to these models are taken from observable markets possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.
v. Deferred Tax
Recognition of deferred tax assets Availability of future taxable profit against which the tax losses carried forward can be used.
vi. Recognition and Measurement of Provisions and Contingencies
Key assumptions about the likelihood and magnitude of an outflow of resources.
2.2 Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual provisions of the instrument.
A financial asset inter-alia includes any asset that is cash, equity instrument of another entity and a financial liability or equity instrument of another entity. The Company recognises a financial asset or financial liability in its balance sheet only when the entity becomes party to the contractual provisions of the instrument.
Initial recognition and measurement
All financial assets are recognised initially at fair value including transaction costs that are attributable to the acquisition of financial assets except in the case of financial assets recorded at FVTPL where the transaction costs.
Subsequent measurement
For purposes of subsequent measurement financial assets are classified in three categories:
⢠Financial asset measured at amortised cost
⢠Financial asset at fair value through OCI
⢠Financial assets at fair value through profit or loss
Financial assets measured at amortised cost
Financial assets are measured at amortised cost if the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows are solely payments of principal and interest on the principal amount outstanding. These financial assets are amortised using the effective interest rate (EIR) method, less impairment. 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 in finance income in the statement of profit and loss. The losses arising from impairment are recognised in the statement of profit and loss in finance costs.
Financial assets at fair value through OCI (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. At initial recognition, an irrevocable election is made (on an instrument-by-instrument basis) to designate investments in equity instruments other than held for trading purpose at FVTOCI. Fair value changes are recognised in the other comprehensive income (OCI). However, the Company recognises interest income, impairment losses and reversals and foreign exchange gain or loss in the income statement. On derecognition of the financial asset other than equity instruments, cumulative gain or loss previously recognised in OCI is reclassified to income statements.
Any financial asset that does not meet the criteria for classification as at amortised cost or as financial assets at fair value through other comprehensive income, is classified as financial assets at fair value through profit or loss. Further, financial assets at fair value through profit or loss also include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Financial assets at fair value through profit or loss are fair valued at each reporting date with all the changes recognised in the Statement of profit and loss.
De-recognition of financial assets
The Company derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Company neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset and continues to control the transferred asset, the Company recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralized borrowing for the proceeds receivables.
Impairment of financial assets
The Company assesses impairment based on expected credit loss (ECL) model on the following:
⢠Financial assets that are measured at amortised cost.
⢠Financial assets measured at fair value through other comprehensive income (FVTOCI)
ECL is measured through a loss allowance on a following basis:-
⢠The 12 month expected credit losses (expected credit losses that result from all possible default events on the financial instruments that are possible within 12 months after the reporting date)
⢠Full life time expected credit losses (expected credit losses that result from all possible default events over the life of financial instruments)
The company follows ''simplified approach'' for recognition of impairment on trade receivables or contract assets resulting from normal business transactions. The application of simplified approach does not require the Company to track changes in credit risk. However, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, from the date of initial recognition.
For recognition of impairment loss on other financial assets, the Company determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk has increased significantly, lifetime ECL is provided. For assessing
increase in credit risk and impairment loss, the Company assesses the credit risk characteristics on instrument-by-instrument basis.
ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR.
Impairment loss allowance (or reversal) recognised during the period is recognised as expense/income in the statement of profit and loss.
Financial liabilities and equity:
Classification as debt or equity
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.
Financial liabilities
The Company''s financial liabilities include loans and borrowings including trade payables, accrued expenses and other payables.
Initial Recognition and measurement
All financial liabilities at initial recognition are classified as financial liabilities at amortised cost or financial liabilities at fair value through profit or loss, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. Any difference between the proceeds (net of transaction costs) and the fair value at initial recognition is recognised in the Statement of Profit and Loss or in the "Expenditure Attributable to Construction" if another standard permits inclusion of such cost in the carrying amount of an asset over the period of the borrowings using the effective rate of interest.
Subsequent measurement
After initial recognition, all financial liabilities are subsequently measured at amortised cost using the EIR.
Any gains or losses arising on derecognition of liabilities are recognised in the Statement of Profit and Loss.
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged/cancelled/expired. 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.
Offsetting of financial instruments
Financial assets and liabilities are offset and net amount is reported if there is currently enforceable legal right to offset the recognised amounts and there is intention to settle on a net basis, to realise assets and settle the liabilities simultaneously.
Functional and Presentation Currency
The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the currency of the primary economic environment in which the Company operates.
2.3 Share Capital and share premium:
Ordinary shares
Proceeds from issuance of ordinary shares are classified as share capital in equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction net of tax from the proceeds. Par value of the equity share is recorded as share capital and the amount received in excess of the par value is classified as share premium.
2.4 Cash Flows and Cash and Cash Equivalents:
Statement of cash flows is prepared in accordance with the indirect method prescribed in the relevant Ind AS. For the purpose of presentation in the statement of cash flows, Cash and cash equivalents include cash on hand, other short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
2.5 Income tax
Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to the items recognised directly in equity or in other comprehensive income.
Current Income Tax:
Current tax includes provision for Income Tax computed under special provision (i.e. Minimum Alternate Tax) or normal provision of Income Tax Act provisions. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities on the basis of estimated taxable Income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Deferred Tax:
Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and their corresponding tax bases (known as temporary differences). Deferred tax liabilities are recognised for all temporary differences that are expected to increase taxable profit in the future.
Deferred tax assets are recognised for all temporary differences that are expected to reduce taxable profit in the future, and any unused tax losses or unused tax credits. Deferred tax assets are measured at the highest amount that, on the basis of current or estimated future taxable profit, is more likely than not to be recovered. The net carrying amount of deferred tax assets is reviewed at each reporting date and is adjusted to reflect the current assessment of future taxable profits. Any adjustments are recognised in profit or loss.
Deferred tax is calculated at the tax rates that are expected to apply to the taxable profit (tax loss) of the periods in which it expects the deferred tax asset to be realised or the deferred tax liability to be settled, on the basis of tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to the income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.
In the event of unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets are recognized to the extent that it is probable that sufficient future taxable income will be available to realise such assets.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised.
2.6 Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.
The specific recognition criteria described below must also be met before the revenue is recognised.
Interest Income:
Interest income on financial assets measured at amortised cost is recognised on time proportion basis, using effective interest method. Interest on financial assets subsequently measured at fair value through profit or loss (FVTPL) is recognised at the contractual rate of interest.
2.7 Earnings per Share:
Basic Earnings per share is computed by dividing the profit from continuing operations and total profits, both attributable to equity share holders of the Company by the weighted average number of equity shares outstanding during the period. Diluted earnings per share are computed using the weighted average number of equity and dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive.
Mar 31, 2013
Basis of Accounting
The Financial Statements are prepared on the historical cost
convention, in accordance with applicable Accounting Standards and the
relevant provisions of the Companies Act, 1956.
All assets and liabilities have been classified as current or
non-current as per criteria set out in the Schedule VI to the Companies
Act, 1956.
Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Differences between
the actual results and estimates are recognised in the period in which
the results are known / materialised.
Revenue Recognition
a) Lease Rentals and Lease Management Fees arising out of Lease
Agreements and Hire Charges and Documentation Fees arising out of the
Hire Purchase Agreements are recognized as income in accordance with
the terms of the agreements entered into with the lessees / hirers or
as rescheduled from time to time.
Lease rental income on Lease Agreements executed on or after 1st April,
1995 is recognized on the basis of the implicit rate of return, the
difference between the capital recovery and the depreciation being
accounted as Lease Adjustment Account.
Hire charges are recognized as income equally over the period of the
Hire Purchase Agreements executed on or before 31st March, 1995 and on
sum of digits method for agreements executed thereafter.
However, income on non-performing assets identified in accordance with
the guidelines issued by the Reserve Bank of India is recognized on
realization in cash or in kind.
b) Delayed payment charges are recognised on realisation.
c) Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
d) All other incomes and expenditures are accounted on accrual basis.
Fixed Assets
Tangible Fixed Assets are stated at cost or revalued amounts, as the
case may be, less accumulated depreciation, lease adjustment account
and provision for impairment, if any. The cost includes expenditure
incurred in the acquisition and construction / installation and other
related expenses in bringing the asset to working condition for its
intended use. In respect of qualifying assets, related pre operational
expenses including borrowing costs are also capitalised. In case of
revaluation of fixed assets, the original cost as written up by the
valuer, is considered in the account and the differential amount is
transferred to revaluation reserve.
Depreciation
Depreciation on Tangible Fixed Assets has been provided on Straight
Line Method at the rates and in the manner prescribed in Schedule XIV
to the Companies Act, 1956 on prorata basis from the date of additions
and/or disposal :
(a) In respect of Owned Assets acquired upto 16th December, 1993, at
the rates adopted in earlier years. Depreciation on owned assets
acquired thereafter has been calculated at the revised rates prescribed
by Schedule XIV to the Companies Act, 1956.
(b) In respect of leased assets, at the revised rates prescribed by
Schedule XIV to the Companies Act, 1956.
Investments
Investments that are readily realisable and are intended to be held for
not more than one year from the date, on which such investments are
made, are classified as current investments. All other investments are
classified as long term investments. Current investments are carried at
lower of cost or fair value. Long-term investments are carried at
cost. However, provision for diminution is made to recognise a decline,
other than temporary, in the value of the investments, such reduction
being determined and made for each investment individually.
Provision for Doubtful Debts
All receivables, loans and advances including assets under lease/hire
purchase agreements are classified and provision for doubtful debts is
made in accordance with the guidelines issued by the Reserve Bank of
India.
Income Taxes
Tax expense comprises both current and deferred taxes. Current Tax is
provided on the taxable income using the applicable tax rates and tax
laws. Deferred tax assests and liabilities arising on account of timing
difference and which are capable of reversal in subsequent periods are
recognised using the tax rates and tax laws that have been enacted or
substantively enacted. Deferred tax assets are recognised only to the
extent that there is reasonable certainity that sufficient future
taxable income will be available against which such deferred tax assets
can be realised. If the company has carry forward unabsorbed
depreciation and tax losses, deferred Tax assets are recognised only to
the extent there is a virtual certainity supported by convincing
evidence that sufficient taxable income will be available against which
such deferred tax assets can be realised.
Minimum Alternative Tax credit is recognised as an asset only when and
to the extent there is convincing evidence that the company will pay
normal income tax during the specified period.
Provisions and Contingent Liabilities
The Company recognises a provision when there is a present obligation
as a result of a past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
obligation. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources. Where there is a possible
obligation or a present obligation that the likelihood of outflow of
resources is remote, no provision or disclosure is made.
Mar 31, 2012
Basis of Accounting
The Financial Statements are prepared on the historical cost
convention, in accordance with applicable Accounting Standards and the
relevant provisions of the Companies Act, 1956.
All assets and liabilities have been classified as current or
non-current as per criteria set out in the Schedule VI to the Companies
Act, 1956.
Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Differences between
the actual results and estimates are recognised in the period in which
the results are known/materialised.
Revenue Recognition
a) Lease Rentals and Lease Management Fees arising out of Lease
Agreements and Hire Charges and Documentation Fees arising out of the
Hire Purchase Agreements are recognized as income in accordance with
the terms of the agreements entered into with the lessees/hirers or as
rescheduled from time to time.
Lease rental income on Lease Agreements executed on or after 1st April,
1995 is recognized on the basis of the implicit rate of return, the
difference between the capital recovery and the depreciation being
accounted as Lease Adjustment Account.
Hire charges are recognized as income equally over the period of the
Hire Purchase Agreements executed on or before 31st March, 1995 and on
sum of digits method for agreements executed thereafter.
However, income on non-performing assets identified in accordance with
the guidelines issued by the Reserve Bank of India is recognized on
realization in cash or in kind.
b) Delayed payment charges are recognised on realisation.
c) Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
d) All other incomes and expenditures are accounted on accrual basis.
Fixed Assets
Tangible Fixed Assets are stated at cost or revalued amounts, as the
case may be, less accumulated depreciation, lease adjustment account
and provision for impairment, if any. The cost includes expenditure
incurred in the acquisition and construction/installation and other
related expenses in bringing the asset to working condition for its
intended use. In respect of qualifying assets, related pre operational
expenses including borrowing costs are also capitalised. In case of
revaluation of fixed assets, the original cost as written up by the
valuer, is considered in the account and the differential amount is
transferred to revaluation reserve.
Depreciation
Depreciation on Tangible Fixed Assets has been provided on Straight
Line Method at the rates and in the manner prescribed in Schedule XIV
to the Companies Act, 1956 on prorata basis from the date of additions
and/or disposal :
(a) In respect of Owned Assets acquired upto 16th December, 1993, at
the rates adopted in earlier years. Depreciation on owned assets
acquired thereafter has been calculated at the revised rates prescribed
by Schedule XIV to the Companies Act, 1956.
(b) In respect of leased assets, at the revised rates prescribed by
Schedule XIV to the Companies Act, 1956.
Investments
Investments that are readily realisable and are intended to be held for
not more than one year from the date, on which such investments are
made, are classified as current investments. All other investments are
classified as long term investments. Current investments are carried at
lower of cost or fair value. Long-term investments are carried at
cost. However, provision for diminution is made to recognise a decline,
other than temporary, in the value of the investments, such reduction
being determined and made for each investment individually.
Provision for Doubtful Debts
All receivables, loans and advances including assets under lease/hire
purchase agreements are classified and provision for doubtful debts is
made in accordance with the guidelines issued by the Reserve Bank of
India.
Income Taxes
Tax expense comprises both current and deferred taxes. Current Tax is
provided on the taxable income using the applicable tax rates and tax
laws. Deferred tax assests and liabilities arising on account of timing
difference and which are capable of reversal in subsequent periods are
recognised using the tax rates and tax laws that have been enacted or
substantively enacted. Deferred tax assets are recognised only to the
extent that there is reasonable certainty that sufficient future
taxable income will be available against which such deferred tax assets
can be realised. If the company has carry forward unabsorbed
depreciation and tax losses, deferred Tax assets are recognised only to
the extent there is a virtual certainty supported by convincing
evidence that sufficient taxable income will be available against which
such deferred tax assets can be realised.
Provisions and Contingent Liabilities
The Company recognises a provision when there is a present obligation
as a result of a past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
obligation. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources. Where there is a possible
obligation or a present obligation that the likelihood of outflow of
resources is remote, no provision or disclosure is made.
Mar 31, 2011
A BASIS OF ACCOUNTS:
The accounts have been prepared on the accrual basis of accounting,
under the historical cost convention and in accordance with, the
Companies Act, 1956 and the applicable Accounting Standards prescribed
in the Companies (Accounting Standards) Rules, 2006 issued by the
Central Government.
B USE OF ESTIMATES :
The preparation of financial statements in conformity with generally
accepted accounting principles requires estimates and assumptions to be
made that affect the reported amounts of assets and liabilities on the
date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Differences between actual
results and estimates are recognised in the period in which the results
are known/ materialised.
C. INCOME RECOGNITION:
(i) Lease Rentals and Lease Management Fees arising out of Lease
Agreements and Hire Charges and Documentation Fees arising out of the
Hire Purchase Agreements are recognised as income in accordance with
the terms of the agreements entered into with the lessees / hirers or
as rescheduled from time to time.
Lease rental income on Lease Agreements executed on or after 1st April,
1995 is recognised on the basis of the implicit rate of return, the
difference between the capital recovery and the depreciation being
accounted as Lease Adjustment Account.
Hire charges are recognised as income equally over the period of the
Hire Purchase Agreements executed on or before 31st March, 1995 and on
sum of digits method for agreements executed thereafter. However,
income on non-performing assets identified in accordance with the
guidelines issued by the Reserve Bank of India is recognised on
realisation in cash or in kind.
(ii) Delayed payment charges are recognised on realisation. All other
incomes are accounted on accrual basis.
D. EXPENSES:
All expenses are generally accounted for on accrual basis.
E. FIXED ASSETS AND DEPRECIATION:
(i) Fixed Assets including Leased Assets are stated at their historical
cost less accumulated depreciation and lease adjustment account.
(ii) Depreciation on Fixed Assets is provided for on Straight Line
Method :
(a) in respect of Owned Assets acquired upto 16th December, 1993, at
the rates adopted in earlier years. Depreciation on owned assets
acquired thereafter has been calculated at the revised rates prescribed
by Schedule XIV to the Companies Act, 1956.
(b) in respect of leased assets, at the revised rates prescribed by
Schedule XIV to the Companies Act, 1956.
(iii) Depreciation on assets acquired or sold, discarded or destroyed
during the year is calculated on pro-rata basis from the date of such
acquisition or, as the case may be, upto the date on which such asset
has been sold, discarded or destroyed. (iv) Profit or loss on sale of
assets is recognised on the date of sale.
F. INVESTMENTS:
Investments in securities intended to be traded in and to be held for
not more than one year are classified as 'Stock in trade'. All other
investments are classified as 'Investments'. Investments in properties
are also classified as 'Investments'.
Stock-in-trade is valued at lower of cost or market value for each
security individually.
Investments are valued at weighted average cost. Where an investment is
acquired in exchange for another asset, the acquisition cost of the
investment is determined by reference to the value of the asset given
up. Provision for diminution is made to recognise a decline, other
than temporary, in the value of each investment individually.
G. PROVISION FOR DOUBTFUL DEBTS :
All receivables, loans and advances including assets under lease/hire
purchase agreements are classified and provision for doubtful debts is
made in accordance with the guidelines issued by the Reserve Bank of
India.
H. TAXES ON INCOME
Provision for Current tax is made in accordance with the Income Tax
laws and rules prevailing for the relevant assessment years.
Deferred tax is recognised, subject to the consideration of prudence on
timing differences, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversing in one or more subsequent periods.
Deferred tax assets arising mainly on account of business loss and
unabsorbed depreciation under Income Tax laws recognised, only if there
is a virtual certainty of its realisation, supported by convincing
evidance.
Mar 31, 2010
Accounting Policies A BASIS OF ACCOUNTS :
The accounts have been prepared on going concern basis, under the
historical cost convention and in accordance with, the Companies Act,
1956 and the applicable Accounting Standards prescribed in the
Companies (Accounting Standards) Rules, 2006 issued by the Central
Government.
B. USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires estimates and assumptions to be
made that affect the reported amounts of assets and liabilities on the
date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Differences between actual
results and estimates are recognised in the period in which the results
are known/ materialised.
C. INCOME RECOGNITION:
(i) Lease Rentals and Lease Management Fees arising out of Lease
Agreements and Hire Charges and Documentation Fees arising out of the
Hire Purchase Agreements are recognised as income in accordance with
the terms of the agreements entered into with the lessees / hirers or
as rescheduled from time to time.
Lease rental income on Lease Agreements executed on or after 1st April,
1995 is recognised on the basis of the implicit rate of return, the
difference between the capital recovery and the depreciation being
accounted as Lease Adjustment Account.
Hire charges are recognised as income equally over the period of the
Hire Purchase Agreements executed on or before 31st March, 1995 and on
sum of digits method for agreements executed thereafter. However,
income on non-performing assets identified in accordance with the
guidelines issued by the Reserve Bank of India is recognised on
realisation in cash or in kind.
(ii) Delayed payment charges are recognised on realisation. All other
incomes are accounted on accrual basis.
D. EXPENSES:
All expenses are generally accounted for on accrual basis.
E. FIXED ASSETS AND DEPRECIATION :
(i) Fixed Assets including Leased Assets are stated at their historical
cost less accumulated depreciation and lease adjustment account.
(ii) Depreciation on Fixed Assets is provided for on Straight Line
Method :
(a) in respect of Owned Assets acquired upto 16th December, 1993, at
the rates adopted in earlier years. Depreciation on owned assets
acquired thereafter has been calculated at the revised rates prescribed
by Schedule XIV to the Companies Act, 1956.
(b) in respect of leased assets, at the revised rates prescribed by
Schedule XIV to the Companies Act, 1956.
(iii) Depreciation on assets acquired or sold, discarded or destroyed
during the year is calculated on pro- rata basis from the date of such
acquisition or, as the case may be, upto the date on which such asset
has been sold, discarded or destroyed.
(iv) Profit or loss on sale of assets is recognised on the date of
sale.
F. INVESTMENTS:
Investments in securities intended to be traded in and to be held for
not more than one year are classified as Stock in trade. All other
investments are classified as Investments. Investments in properties
are also classified as Investments.
Stock-in-trade is valued at lower of cost or market value for each
security individually.
Investments are valued at weighted average cost. Where an investment is
acquired in exchange for another asset, the acquisition cost of the
investment is determined by reference to the value of the asset given
up.
Provision for diminution is made to recognise a decline, other than
temporary, in the value of each investment individually.
G PROVISION FOR DOUBTFUL DEBTS :
All receivables, loans and advances including assets under lease/hire
purchase agreements are classified and provision for doubtful debts is
made in accordance with the guidelines issued by the Reserve Bank of
India.
H. TAXES ON INCOME
Provision for Current tax is made in accordance with the Income Tax
laws and rules prevailing for the relevant assessment years.
Deferred tax is recognised, subject to the consideration of prudence on
timing differences, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversing in one or more subsequent periods.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article
More Information on Mantra Capital Ltd.
-
Mantra Capital Ltd. Tools
- Bulk Deals
-
Mantra Capital Ltd. Company Details
- Company Profile
- Company History
- Management Team
- Capital Structure
- Product Mix
- Banker/Auditor/Registrar
-
Company History
- Rights
- BSE Price History
-
Mantra Capital Ltd. Key Financial Ratios
- Ratios
-
Mantra Capital Ltd. Results
- Quarterly Results
- Half Yearly Results
- Nine Months Results
- Annual Results
-
Mantra Capital Ltd. Financial Data
- Audited Results
- Cash Flow
- Balance Sheet
-
Mantra Capital Ltd. Reports
- Accounting Policies
- Auditors Report
- Directors Report
- Notes To Account
-
Mantra Capital Ltd. Corporate Announcements
- Book Closure
- Board Meetings
- Change of Name
-
FY26 Market Review: Inside Nifty-Sensex's Sharpest Yearly Crash Since COVID; What's Next For Investors? -
Intraday Stocks To Buy Today, March 27: Top Picks By Anand James of Geojit Investments On Friday -
Indian equities open higher as Nifty tops 23,100 and Sensex climbs over 700 points -
Intraday Stocks To Buy Today, March 25: Top Picks By Anand James of Geojit Investments On Wednesday
-
Stock Market Today: Nifty Closes Near 23,000, Sensex Up 1.8%: IndiGo, L&T, Eternal, Asian Paints Top Gainers -
Steel Stock Gains 5.14% On Getting NCLT Nod For Key Merger; Do You Own? -
Stock Market Opens Strong: Nifty Up 1.5%, Sensex Rallies 1,516 Pts; Rupee Recovers as Trump Delays Iran Strike -
D-Street Mayhem: Rs 15 Lakh Cr Wiped Out As Nifty-Sensex Close 2.5% Lower, Rupee In Free-Fall Amid Iran-US War -
Indian equities outlook today as Bank Nifty remains weak and Nifty tests support -
Stock Market Crash: Sensex, Nifty Hit 1-Year Low; How US-Israel-Iran War Wiped Out Rs 4,753,333 Crore -
Intraday Stocks To Buy Today, March 23: Top Picks By Anand James of Geojit Investments On Monday
-
Nifty, Sensex Down 8% Amid Iran-US War, Crude Oil At Sky High: How Past Geopolitical Crises Have Shaped Market -
Stock Market Weekly Wrap: Sensex, Nifty End In Green Amid Iran-US War, Crude Surge, Rupee Slide -
Nifty Falls as Global Cues Persist and Gulf Tensions Weigh on Indian Markets -
Intraday Stocks To Buy Today, March 20: Top Picks By Anand James of Geojit Investments On Friday
-
Nifty, Sensex Stage Sharp Rebound After Biggest Crash; IT Stocks in Green | Why Is Stock Market Rising Today?
-
Block for 8 hours
-
Block for 12 hours
-
Block for 24 hours
-
Don't block
Sign in with Google- Male
- Female
- Others
- Under 18
- 18 to 25
- 26 to 35
- 36 to 45
- 45 to 55
- 55+