K. PROVISIONS, CONTINGENT LIABILITIES AND ASSETS:
Provisions are recognised when the Company has a present obligation as a result of past events
and it is more likely that an outflow of resources will be required to settle the obligation and the
amount has been reliably estimated. Provisions are not discounted to present value and are
determined based on best estimate of the expenditure required to settle the obligation at the
balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the
current best estimate.
Contingent Liabilities are not disclosed by way of notes to the financial statements. Contingent
assets are neither recognised nor disclosed in the financial statements. As stated by Management,
there were no Contingent Liabilities.
L. EARNING PER SHARE (EPS):
Basic earnings per share are computed by dividing the profit/(loss) after tax by the total number
of equity shares outstanding during the year. Diluted earnings per share is computed by dividing
the profit/(loss) after tax by the total number of equity shares considered for deriving basic
earnings per share.
2. RELATED PARTY DISCLOSURES:
The Company has transaction of a material nature with the promoters, Directors of management,
their subsidiaries or relatives that may have potential conflict with the interest of the company at
large. The register of contacts containing the transactions in which Directors are interested in place
before the board regularly for it approval, but not produced before us.
The Company Confirms that all transaction including purchase and sales done with related party is
at Arm’s Length Price and in normal course of business with all entities. The Company confirms
that none of the transactions, if any, with the related parties was in material conflict with the
interest of the Company except matter reported key matters in audit report.
4. SEGMENT REPORTING:
The Company is primarily dealing in Pharmaceutical Business i.e. trading of pharma products
and commission agent in pharma products etc. which in the context of Accounting Standard 17
on “Segment Reporting” constitutes a single reporting segment. Further, there are no geographical
segments.
5. EMPLOYEE BENEFIT EXPENCES:
Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are
administered by Central Government of India and contribution to the said funds are charges to
Profit and Loss Account or accrual basis if any.
Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates
in accordance with the policies of the company if any.
The Provision of Gratuity is Rs. Nil.
6. Any material gains/ losses which arise from the events or transaction which are Events Occurring
after the Balance Sheet Date of the company are separately disclosed if any.
7. Auditor’s remuneration:
During the year under consideration provision has made for Auditor’s remuneration.
. (in Rupees)
31 March 2024 31 March 2023
Statutory Audit Fees 2,00,000/- 1,13,500/-
Other matter 55,000/-
8. Director’s remuneration:
During the year under consideration provision has made for Director’s remuneration.
For which no resolution is passed in the AGM for same or has not obtained any information.
(in Rupees)
31 March 2024 31 March 2023
Remuneration 0.00 0.00
9. As certified by company that it has received written representation from all the directors. That
companies is which they are directors had not defaulted in terms of section 164(2) of the
Companies Act, 2013, and that representations of directors takes in Board that Director is
disqualified from being appointed as director of the company.
10. The management has informed that the Company has not received any memorandum (as required
to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise
Development Act, 2006) claiming their status during the year as micro, small or medium
enterprises. Consequently there are no amounts paid/ payable to such parties during the year.
11. Expenditure in indian currency is Rs 3,17,000/- in respect of Foreign Travelling of director.
12. (a) As inform to us the company has invested Rs.8.67crores with 2 parties which are debited in
balances sheet. But no revenue in current year.
(b) The commission exp 5.88 crores debited to profit loss account which are require to justify.
(c) No TDS paid on commission exps, legal and professional exps and sales promotion exps.
(d) No physical verification of stock records and no details of sub standard / expiry dated goods.
There were no transportation exps for good movements.
(e) As explain to us there were no litigations against the company hence we are unable to find any
contingent liabilities or disputed tax matters. However as per online status Rs. 58,06,780/- income
tax dues payable.
(f) Details of correct ageing of creditors / debtors not produced before us including MSME
accounts.
(g) The audit fees Rs. 3,20,000/- debited to profit loss account which include Rs. 1,15,000/- other
then audit services to other persons.
13. Export Sales in foreign currency is NIL/- (In Indian Rupees). However, Other Income in foreign
currency is Rs. Nil.
14. There is No Any Amalgamation or Acquisition with Other Company / Firm / Entity by the
company during the financial year.
15. The company has Not received any type of Government Grants or Subsidies.
16. The company did not enter into any Lease Agreement.
17. No segment or part of company is discontinued or sold during the year.
18. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the
current year’s classifications/disclosure.
19. Particulars of licensed capacity or production capacity is Nil/- of the company.
20. The company is engaged primarily in Pharmaceutical Business i.e. trading of pharma products and
commission agent in pharma products etc.. As per AS-108 Operating Segment, none of the
segment/products exceeds specified limits for the purpose of reporting as per AS-108 is not
applicable.
21. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering
the prudence aspect.
22. Audit committee minutes not produced before us.
23. The turnover with GST is subject to verification of reconsilation.
24. All of the Debit, Credit, Balances including, Loans & advances, investment lying in various party’s
Customer’s accounts are subject to their balance confirmation as details not produced before us.
25. As inform to us by the management there were no Crypto currency or virtual currency transaction.
26. As inform to us by the management there were no new registration of charges with ROC except old
charges continue.
27. As inform to us by the management there were no details of benami property held.
28. Computation of ratio attach herewith.
For, PATRON EXIM LIMITED For, J.M. Patel & Bros.
Chartered Accountants
F.R.No.107707W
Sd/- Sd/-
Sd/ Sd/-
BHUMISHTH PATEL NARENDRAKUMAR PATEL (CA J.M. Patel)
Managing Director Director & CFO M.COM., F.C.A.
DIN :02516641 DIN : 07017438 M. No. 030161
UDIN: 24030161BKELXB5700
S_/- Sd/-
SONIA KAKANI HARDIK PATEL Place : Ahmedabad
Company Secretary CFO Date : 29/05/2024
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