Provisions are recognized when the Company has a present, legal or constructive obligation as a
result of a past event and it is probable that an outflow of resources will be required to settle the
obligation, and a reliable estimate of the amount of the obligation can be made. Provisions are
determined based on the best estimate required to settle the obligation at the Balance Sheet date.
Provisions are reviewed at each Balance Sheet date and adjusted to reflect current best estimates.
Provisions are measured at the present value of management's best estimate of the expenditure
required to settle the present obligation at the end of the reporting period. The discount rate used
to determine the present value is a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the liability. The increase in the provision due to the
passage of time is recognized as interest expense.
A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not probable
that an outflow of resources will be required to settle the obligation. A contingent liability also
arises in extremely rare cases where there is a liability that cannot be recognized because it cannot
be measured reliably. The Company does not recognize a contingent liability but discloses its
existence in the financial statements. A disclosure for a contingent liability is made where there is
a possible obligation arising out of past events, the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the Company or a present obligation arising out of a past event where it is either not
probable that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.
s. Earnings per share
a. Basic Earnings per Share
Basic earnings per share is calculated by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the financial
year. Earnings considered in ascertaining the company s earnings per share is the net profit for the
period after deducting any attributable tax thereto for the period. The weighted average number
of equity shares outstanding during the period and for all periods presented is adjusted for events,
such as bonus shares, other than the conversion of potential equity shares that have changed the
number of equity shares outstanding, without a corresponding change in resources.
b. Diluted Earnings per Share
For the purpose of calculating diluted earnings per share, the net profit or loss for the period
attributable to equity shareholders and the weighted average number of shares outstanding during
the period is adjusted for the effects of all dilutive potential equity shares.
Fair value hierarchy:
The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value
that are either observable or unobservable and consists of the following three levels:
Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2— Inputs are other than quoted prices included within Level1 that are observable for the asset
or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3 — Inputs are not based on observable market data (unobservable inputs). Fair values are
determined in whole or in part using a valuation model based on assumptions that are neither
supported by prices from observable current market transactions in the same instrument nor are they
based on available market data.
27. Financial risk management
The Company is exposed to various risks such as credit risk, liquidity risk and market risk.
i. Credit risk
Credit risk arises due to customer's failure to repay the debts according to the contractual terms and
conditions. It consists of two elements viz. risk of default in payment and decrease in the
creditworthiness of the customers. Credit risk is controlled by analyzing credit limits and
creditworthiness of customers on a continuous basis to whom the credit has been granted after
obtaining necessary approvals for credit.
Since the Company is not engaged in Exports, it is not exposed to risk associated with other
geographies.
ii. Market risk
The risk that the fair value of the financial instrument may fluctuate because of change in market
conditions. Such changes in the values of financial instruments may result from changes in the interest
rates, credit, liquidity and other market changes.
The Company is unable to meet its short term and long term financial obligations as it casts serious
doubts about the Going Concern assumption.
28. Foreign exchange earnings and outgo:
The earnings and outgo in foreign currency is Rs. Nil for the year ended March 31, 2024 (Rs. Nil for
March 31, 2023).
29. Contingent liability not provided for:
a. The Company settled the old outstanding dues under the amnesty scheme and accordingly the
effects are given in the books.
b. Interest/ penalty in respect of non-compliance of rules and regulations of Bombay Stock Exchange,
Securities and Exchange Board of India and Registrar of Companies is not provided as the amount
cannot be ascertained.
c. Some of the Customers and a Vendor has filed a suit against the Company. However, in view of the
Company, there is no liability.
30. Deferred Tax asset:
The Company has discontinued its operations and there is no convincing evidence which demonstrates
the virtual certainty of the realization of such deferred tax asset. Hence the Company has not
recognised the deferred tax asset.
32. Details of dues to micro and small enterprises as defined under MSMED Act, 2006
The Company does not have any system to identify the vendors who are registered under the MSMED
Act, 2006. Hence, it was not possible to opine on the requirements under the MSMED Act.
33. Inventories
As per the perception of the management, closing stock is approximately of the value stated if realized
in the ordinary course of business. The Company has not carried out the physical verification of the
closing stock due to prevailing conditions that are beyond the control of the management.
34. Capital commitments:
The capital commitment as at March 31, 2024 was Rs. Nil (March 31, 2023 - Rs. Nil).
35. Relationship with Struck off Companies
The Company has not entered into any relationship with the struck-off Company during the financial
year 2023-24. (March 31, 2023 - Nil).
36. Previous period's / year's figures have been regrouped where necessary to conform to current period's
classification.
For S.H.SANE & CO. For and on behalf of the Board of Directors
Chartered Accountants of Filtron Engineers Limited
(Firm's Registration No.0114491W)
Sd/- Sd/-
Mr. Sadanand Hegde Mr. Gajanan Hegde
Sd/- Chairman & Whole time Director Director
Shekhar Sane DIN No.00195106 DIN No.00195154
Proprietor
M.No. 047938 Sd/-
Date: 30-05-2024 Ramesh Hosmane Date: May 30, 2024
Place: Pune CFO Place: Pune
UDIN:24047938BKBGTD9935
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