12. Provisions and Contingencies
The Company creates a provision when there exists a present obligation as a result of a past event
that probably requires an outflow of resources and a reliable estimate can be made of the amount of
the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a
present obligation that may, but probably will not require an outflow of resources. When there is
possible obligation or a present obligation in respect of which likelihood of outflow of resources is
remote, no provision or disclosure is made.
13. Earnings per Share
The Basic and Diluted Earnings per Share ("EPS") is computed by dividing the profit after tax for
the year by weighted average number of equity shares outstanding during the year.
14. Borrowing Cost
Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the
arrangement of borrowings and exchange differences arising from foreign currency borrowings to
the extent they are regarded as an adjustment to the interest cost. Borrowing costs, if any, directly
attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized. All other
borrowing costs are expensed in the period they occur.
15. Cash and Cash Equivalents
Cash and cash equivalents include cash and cheques in hand, bank balances, demand deposits with
banks and other short-term highly liquid investments where the original maturity is three months
or less.
16. Government Grants and Subsidies
The Company is not entitled to any subsidy from government authorities in respect of
manufacturing units located in specified regions: Grants in the nature of subsidy which are
nonrefundable are credited to the Statement of Profit and Loss, on accrual basis, where there is
reasonable assurance that the Company will comply with all the necessary conditions attached to
them. Grants in the nature of subsidy which are refundable are shown as Liabilities in the Balance
Sheet.
17. Measurement of EBITDA
The Company has opted to present earnings before interest (finance cost), tax, depreciation and
amortization (EBITDA)as a separate line item on the face of the Statement of Profit and Loss for the
year. The Company measures EBITDA on the basis of profit/ (loss) from continuing operations.
18. Segment Reporting
i) Business Segment
a. The business segment has been considered as the primary segment.
b. The Company's primary business segments are reflected based on principal business activities,
the nature of service, the differing risks and returns, the organization structure and the internal
financial reporting system.
c. The Company's primary business comprises of manufacturing & supply of re-active power
compensation systems, harmonic filters & other engineering goods and since it is the only
reportable segment as envisaged in Accounting Standard 17. 'Segment Reporting'. Accordingly,
no separate disclosure for Segment Reporting to be made in the financial statements of the
Company.
ii) Geographical Segment
A geographical segment is a distinguishable component of an enterprise that is engaged in
providing products or services within a particular economic environment and that is subject to
risks and returns that are different from those of components operating in other economic
environments. The company provides products or services only through single establishment.
Accordingly, no separate disclosure for Segment Reporting to be made in the financial statements
of the Company.
19. The Company has recognized deferred tax arising on account of timing differences, being the
difference between the taxable income and accounting income, that originates in one period and
is capable of reversal in one or more subsequent period(s) in compliance with Accounting
standard (AS 22) - Accounting for Taxes on income.
30) i) Contingent liability in respect of capital contracts remaining to be executed -Rs. Nil (PY Nil)
ii) Other Contingent liabilities- Nil
iii) Company did not have provided any corporate guarantee.
31) Debit and Credit balances are subject to confirmation.
32) In the opinion of the Board of Directors, the current assets have value on realization in ordinary
course of business at least equal to the amount at which they are stated except as otherwise
stated.
33) Earnings per Share (EPS):
The Company has complied with the provisions of AS-20 on Earning per share as notified by
the Companies (Accounting Standards) Rules, 2006. The same has been calculated as follows-
35) Disclosure regarding loans given, investments made and guarantee given pursuant to section
186(4) of the Companies Act, 2013:
a) Loan Given: Nil
b) Investment Made: Nil
c) Guarantee Given: Nil
36) Segment Reporting:
The company is entirely working in textile business in 2 cities of India i.e. Mumbai and Noida.
For the purposes of AS 17 regarding segment reporting, secondary segment formation on
geographical segment is considered on the basis of revenue generated from that segment is
beyond the threshold limits. Disclosure required as per the standard is given below:
40) Figures have been rounded off to the nearest rupee and those in brackets represent
corresponding figures for the previous year.
41) Additional regulatory information required by Schedule III of Companies Act, 2013:
a) Details of Benami property:
No proceedings have been initiated or are pending against the Company for holding any
Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the
rules made thereunder.
b) Utilisation of borrowed funds and share premium:
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
c) Compliance with number of layers of companies:
The Company has complied with the number of layers prescribed under the Companies Act,
2013.
d) Compliance with approved scheme(s) of arrangements:
The Company has not entered into any scheme of arrangement which has an accounting
impact on current or previous financial year.
e) The Company has not been declared as a wilful defaulter by any bank or financial institution
or government or any government authority.
f) Struck off Companies:
Details of relationship with Companies struck off under Section 248 of Companies Act, 2013
or Section 560 of the Companies Act, 1956
g) Undisclosed income:
There is no income surrendered or disclosed as income during the current or previous year
in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the
books of account.
h) Details of crypto currency or virtual currency:
The Company has not traded or invested in crypto currency or virtual currency during the
current or previous year.
i) The figures have been rounded off to the nearest lacs of rupees upto two decimal places. The
figure 0.00 wherever stated represents value less than ' 1000/-.
Notes referred to above form part of the accounts as per our report of even date attached.
As per our report of even date, For and on behalf of the Board of Directors of
For N B T and Co SK International Export Limited
Chartered Accountants
ICAI Firm Reg. No. 140489W
Sd/ Sd/- Sd/-
Ashutosh Biyani Hitesh Sadh Purti Sadh
Partner Director Director
Membership No. 165017 (DIN: - 03055331) (DIN: - 08228285)
Sd/- Sd/-
Place : Mumbai Sneha Sadashiv Parab Riya Kandoi
Date : 30/05/2024 Chief Fmancial Officer Company Secretary
(PAN No.: BPLPP6252E) (PAN No.: BUPPR4945H)
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