* The face value of equity share was Rs. 100/- per share and the same was sub-divided into Rs. 10/- per share vide resolution dated 17-062023. Since the event occured after balance sheet date but before the signing date, the effect for the same is also considered in 31st March 2023 in order to maintain uniformity.
** The company has allotted Bonus Shares on 04/09/2023 in the ratio of 35 shares for every 10 share held vide its members resolution passed in EGM 31.08.2023
*** The company has raised money through Initial Public Offer "IPO") and has got listed on NSE-SME platform by way of fresh issue of 71,80,000 fully-paid-up equity shares of face value of Rs.10 each at a premium of Rs.55 each.
e) The rights, preferences and restrictions attaching to each class of shares:
The Company has only one class of shares and all shareholder have equal rights and there are no restriction and preferences attached to any shareholders including the right to receive dividend and repayment of Capital.
f) Shares in respect of each class in the company held by its holding company or its ultimate holding company including shares held by subsidiaries or associates of the holding company or the ultimate holding company in aggregate
3 Proposed Dividend Details:
The Company has not declared dividend during the period under review.
4 No issue of securities were made for any specific purpose by the Company during the reporting year.
5 The assets other than Property, Plant and Equipment, Intangible Assets and non-current investments have value on realization in the ordinary course of business equal to the amount at which they are stated
6 Details of Benami Property Held:
There are no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).
7 The Company has made borrowings from the banks on the basis of security of current assets, and the statements of current assets as required to be filed by the Company with any the banks or financial institutions are done periodically.
8 Wilful Defaulter:
The company is not declared as wilful defaulter by any bank or financial institution or other lender.
9 Relationship with Struck off Companies:
The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013.
10 Registration of Charges or Satisfaction with Registrar of Companies:
The Company has no charge which is yet to be registered with Registrar of Companies beyond the statutory period .
11 Compliance with Number of Layers of Companies:
The Company has no subsidiaries hence layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 are not applicable, however the company has invested in a partnership firm (Danya Electric Company)
12 Compliance with Approved Scheme(s) of Arrangements:
No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
13 Utilisation of Borrowed Funds and Share Premium:
A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
B. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
20 Undisclosed Income:
There are no transactions that were not recorded in the books of account, and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).
There is no previously unrecorded income and related assets have been recorded in the books of account during the year.
21 Details of Crypto Currency or Virtual Currency:
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
22 Dues to Micro and Small Enterprises:
The dues towards micro and small enterprises have been disclosed in the scheduleds to balance sheet.
26 Employee Benefit (Incurred in India):
Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation.
Interest Cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarial assumption of the interest rate.
Current Service Cost: is the discounted present value of the benefits from the Plan's benefit formula attributable to the services rendered by employees during the accounting period.
Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions. It could also occur due to changes made in the actuarial assumptions.
28 Changes in Accounting Estimates:
There are no changes in Accounting Estimates made by the Company for the period ended 31st March 2024.
29 Changes in Accounting Policies:
There are no changes in Accounting Policy made by the Company for the period ended 31st March 2024.
30 Disclosures on Property, Plant and Equipment and Intangible Assets:
I. Property, Plant and Equipment
(1) There is no restriction on the title of Property, Plant and Equipment, subject to only those which are under hypothecation/ charge.
The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.
27 Cash Flow Statement:
(1) The amount of significant cash and cash equivalent balances held by the enterprise as at March 31, 2024 was Rs.3,30,453/- that are available for use by Company.
(2) Company does not have undrawn borrowing facilities that may be available for future operating activities.
(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.
(4) Company is investing adequately in the maintenance of its operating capacity.
(5) There are no non cash transactions happened in investing and financing activities to be excluded from Cash Flow Statement.
(2) Company has no contractual commitments for the acquisition of Property,Plant & Equipment.
(3) Company has no Impairment loss during the period for Property, Plant & Equipment.
(4) Assets are periodically checked for active usage and those which are retired are written off.
(5) There are no temporarily idle property, plant and equipment.
(6) Intangible asset is amortised as per Schedule II.
(7) The carrying amount and remaining amortization period of any individual intangible asset are not material to the financial statements of the enterprise as a whole.
(8) There are no amounts of intangible assets whose title is restricted and the carrying amounts of intangible assets pledged as security for liabilities.
31 Investments:I. Profits and Losses with Regard to Investments have been Disclosed as under:
a) Profits and losses on disposal of current investments
b) Profits and losses on changes in the carrying amount of current investments
c) Profits and losses on disposal of long-term investments
d) Profits and losses on changes in the carrying amount of long- term investments
32 Segment Reporting:
The Company has considered the business segment as the primary reporting segment. The business segment have been identified on the basis of the nature of products and services, the risks and returns, internal organisation and management structure and the internal performance reporting systems. The Business segment comprises of manufacturing and Selling of transformers of all varities electrical transmission equipments.
34 Balance shown under head Sundry debtors, creditors and advances are subject to confirmation.
35 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with current year's classification.
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