1.12 Provisions / Contingencies
(a) Provision involving substantial degree of estimation in measurements is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.
(b) Contingent Liabilities are shown by way of notes to the Accounts in respect of obligations where, based on the evidence available, their existence at the Balance Sheet date is considered not probable.
(c) A Contingent Asset is not recognized in the Accounts.
1.13 Segment Reporting
A. Business Segments:
Based on the guiding principles given in Accounting Standard 17 (AS - 17) on Segment Reporting issued by ICAI, the Company has only one reportable Business Segment, which is engaged in manufacturing and selling of pyrolysis oil and carbon (substitute for coal) from plastic waste. Accordingly, the figures appearing in these financial statements relate to the Company's single Business Segment.
B. Geographical Segments:
The Company activities / operations are confined to India and as such there is only one geographical segment. Accordingly, the figures appearing in these financial statements relate to the Company's single geographical segment.
1. Current ratio increased by 42.38% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in current assets and decrease in current liability for the year ended 31.03.2024
2. Debt Equity ratio decreased by 34.84% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to decrease in Debt for the year ended 31.03.2024
3. Debt Service coverage ratio increased by 29.41% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in EBIDT for the year ended 31.03.2024
4. Return on Equity ratio increased by 36.70% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Net Profit as on 31.03.2024.
5. Trade receivable turnover ratio increased by 181.47% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Sales during the F.Y. 2023-24.
6. Trade Payable turnover ratio increased by 431.55% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Purchase and decrease in Trade Payable during the F.Y. 2023-24.
7. Working capital turnover ratio changed by 52.43% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Sales as on 31.03.2024.
8. Return on Capital Employed changed by 34.28% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in EBIT as on 31.03.2024.
NOTE 1.16.
No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule MI:
a) Crypto Currency or Virtual Currency
b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder
c) Registration of charges or satisfaction with Registrar of Companies
d) Relating to borrowed funds
i) Wilful defaulter
ii) Utilisation of borrowed funds & share premium
iii) Borrowings obtained on the basis of security of current assets
iv) Discrepancy in utilisation of borrowings
v) Current maturity of long term borrowings
NOTE 1.17. DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES
The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.
4.1 Loan of Rs. 691 lacs availed for Purchase of Plant & Machinery and turnkey contract of factory premises secured by hypothecation of all plant & machinery and equitable mortgage on property situated at plot no. G-58, Manraj Avenue, Jolva, Dahej. Repayable in 84 months (including moratorium of 12 months) starting from September, 2021, Ending on -June, 2027, ROI 10.40% p.a.
4.2 Loan of Rs. 8.99 lacs availed for Purchase of motor car secured by hypothecation of car. Repayable in 84 months at an EMI of Rs. 14,050,/- starting from September, 2021, ROI 8.05% p.a.
4.3 Loan of Rs. 207 lacs availed for generating additional liquidity in business secured by 100% guarantee of NCGTC. Repayable in 60 months (including moratorium of 24 months) starting from March, 2024, ROI 7.50% p.a.
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