Leases
Except as specified below, the company has consistently applied the accounting policies to all periods presented in this financial statement. The company has applied Ind AS 116 with the date of initial application of 1st April, 2019. As a result, the company has changed its accounting policy for lease contracts as detailed below.
The company has applied Ind AS 116 using the modified retrospective approach, under which the cumulative effect of initial application is recognized in retained earnings at 1st April, 2019.
Note 8.1: The company does not have any raw materials/goods in transit as on the balance sheet date.
The inventory of the company is being valued on a weighted average cost basis inculding all relevant costs incurred during the financial year.
Note 12.2: Rights, preferences and restrictions attached to equity shares
The Company has one class of equity shares having a par value of Rs 10 per share.Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(i) The company has not issued any shares without payment being in cash.
(ii) There has been no issue of bonus shares or right shares.
(iii) The company has not undertaken any buy-back of shares.
(iv) The company has not reserved any shares for issue under options.
(v) The company has not entered into any contract or commitment for the sale of shares or disinvestment."
34 Disclosures Required By Indian Accounting Standard 19 - Employee Benefits Defined Contribution Plan
The Company has recognised, in the Statement of Profit and Loss for the current year, an amount of INR 11,28,191 (previous year INR 15,00,000 ) as expenses under the following defined contribution plan.
Defined Benefit Plan A) Gratuity
The Company provides for gratuity, a defined retirement benefits plan (the "Gratuity Plan") covering the existing employees. The plan provides to vest employees a lump sum amount based on the respective employee's salary and the number of years of employment with the Company at the time of retirement or termination of employment. The Company determines its liability towards gratuity cost based on an actuarial valuation.
These plans typically expose the Company to actuarial risks such as: Investment Risk, Interest Risk, Longevity Risk and Salary Risk.
Investment risk : The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds.
Interest risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments
Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.
Salary risk: The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan’s liability.
The Company manages its capital to ensure that it will continue as going concern while maximising the return to stakeholders by optimising cost of capital through flexible capital structure that supports growth. The company manages its capital structure on the basis of annual operating plan and longterm strategic plans and makes adjustment in light of changes in business condition. The funding requirements are met through internal accruals and long-term/short-term borrowings. Further, it ensures optimal credit risk profile to maintain/enhance credit rating. The overall strategy remains unchanged as compare to last year.
Valuation Methodology
All financial Instruments are initially recognised and subsequently remeasured at fair value as described below:
a) The fair value of investments in quoted Equity Shares, Bonds and Mutual Funds is measured at quoted price or NAV.
b) All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.
37.2 Financial Risk Management
The Company's activities expose it to liquidity risk and credit risk. This note explains the sources of risks which the entity is exposed to and how it mitigates that risk.
a) Liquidity Risk
The entity manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. The Company's principal sources of liquidity are cash & bank balances, credit facilities and cash generated from operations.
b) Credit Risk
Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from receivables from customers, deposits with banks, foreign exchange transactions and other financial instrument. Credit risk is managed through credit approvals, monitoring the creditworthiness and establishing credit limits of customers to which it grants credit terms in the normal course of business. The entity establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses in respect of trade and other receivables and investments.
c) Currency Risk
The entity is subject to the risk that changes in foreign currency values impact the Company's exports revenue and imports.As at 31st March, 2025, the unhedged exposure to the Company on financial assets (trade receivables) and liabilities (trade payables) other than in their functional currency amounted to INR 20,79,82,772 and INR 1,31,73,764 respectively.
The Company monitors and manages its financial risks by analysing its foreign exchange exposures. The Company, in accordance with its Board approved risk management policies and procedures, enters into foreign exchange forward contracts to manage its exposure in foreign exchange rates.
38 Details of Benami Property held
The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
39 Disclosure of quarterly returns filed with the banks:
The quarterly returns or statements filed by the company with banks or financial institutions are in agreement with the books of accounts except for
1. Difference in Quantity of 1 slab in Raw Material Granite Raw Blocks
2. Difference in Price of Rs. 35,610.52
40 Wilful Defaulter
The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.
41 Relation with the stuck off companies
Based on the information available with the Company, the Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
42 Registration of charges or satisfaction with the ROC
One of the charges created in favour of Union Bank of India has been fully satisfied. However, the satisfaction of charge has not yet been filed with the Registrar of Companies as on the balance sheet date. The Company is in the process of completing the necessary formalities for the same.
43 Compliance with number of layers of companies
Where the company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.
44 Details in respect of utilisation of borrowed funds and share premium shall be provided in respect of:
The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) 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
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
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:
(a) 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
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,
45 Compliance with approved scheme of arrangements
The Company has not entered into any scheme of arrangements.
46 Undisclosed Income
The Company does not have any transaction not recorded in the books of accounts- surrendered or disclosed as income during the year in tax assessments.
47 Details of Loans Given, Investments Made, Guarantees given and Securities provided during the year covered under Section 186 (4) of the Companies Act, 2013
The Company has not given any loans, guarantees, securities or made any investments during the year within the meaning of section 186(4) of the Companies Act, 2013.
48 Segment Reporting
IND AS 108 - Operating Segments is not applicable to the entity
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