Crown Lifters Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

(A) Corporate Information :

M/s. Crown Lifters Limited is limited company domiciled in India and incorporated under the provisions of the Companies

Act, 1956. The Company has been registered in National Stock Exchange of India.

The Company is engaged in the business hiring of the Cranes.

(B) Basis of preparation :

(a) The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules. 2006, (as amended) which continue to apply as per section 133 of the Companies Act, 2013 read with Rule 7 of the Companies! Accounts) Rules. 2014 and other recognised accounting practices and policies generally accepted in India. The financial statements have been prepared on an accrual basis and under the historical cost convention unless otherwise specified, The accounting policies adopted in the preparation of financial statements are consistent with those of previous year unless otherwise specified.

(b) All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in the Schedule ill to the Companies Art, 2013. Based on the nature of products and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of assets and liabilities.

(a) Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires the Management to make estimates and assumptions that affect the reported balances of assets and liabilities as of the date of the financial statements and reported amounts of income and expenses during the period. Management believes that the estimates used in the preparation of financial statements are prudent and reasonable. Actual results could differ from the estimates.

(b) Property, Plant and Equipment:

(i) Property, plant and Equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use, Any trade discounts and rebates are deducted in arriving at the purchase price.

(ii) Subsequent expenditure related to an item of fixed asset is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing Property, Plant and Equipment, including day-to-day repair and maintenance expenditure and cost of replacing parts, are changed to the statement of profit and loss for the period during which such expenses are incurred.

(c) Depreciation on Property, Plant and Equipment:

Depreciation is provided on a pro- rata basis on the straight line method as prescribed under Schedule II to the Companies Act, 2013. Depreciation is provided on pro-rata basis on addition during the year.

(d) Revenue Recognition:

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue Is recognized:

(i) Sale of Goods;

Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer, usually on delivery of the goods.

(ii) Interest :

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest Income is included under the head "other Income" in the statement of profit and loss.

(e) Operating leases:

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased asset, are classified as operating leases. Operating lease payments are recognized as an expense in the Statement of Profit and Loss on a straight-line basis over the lease term, in accordance with Accounting Standard 19 on ''Leases'', as notified under the Companies (Accounting Standards) Rules, 2006, as amended.

(f) Income Taxes:

(I) Tax expense comprises current and deferred tax. Current income-tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income-tax Act, 1961 enacted in India and tax laws prevailing in the respective tax jurisdictions where the company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date. Current income tax relating to items recognized directly in equity is recognized In equity and not in the statement of profit and loss.

(ii) Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted on the Balance Sheet date.

(g) Segment Reporting:

The company has only one line of business segment, therefore, no separate information for segment-wise disclosure is required.

(h) Inventories:

(i) Raw materials are stated at lower of cost or net realisable value on First In First out method

(ii) Stock of finished goods and materials in process have been valued at cost or net realizable value whichever is lower.

(I) Foreign currency transactions during the year are recorded at the rates of exchange prevailing on the date of the transaction. Foreign currency assets and liabilities are translated into rupees at the exchange rates prevailing on the date of the Balance Sheet. All exchange differences are dealt with In the statement of profit and loss. Differences between the forward exchange rates and the exchange rates at the date of transactions are recorded as income or expenses over the life of the contracts.

(ii) There is no foreign Exchange Transactions during the year into consideration.

(j) Earning per Share :

Basic Earnings per share is calculated by dividing the net profit for the period attributable to the equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit for the period attributable to the equity shareholders and the weighted average number of equity shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

(k) Provisions and Contingent liabilities :

(I) Provisions:

A provision is recognized when the company has a present obligation as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

(ii) Contingent Liabilities:

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.

(l) Cash and Cash Equivalents :

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and shortterm investments with an original maturity of twelve months or less.

(m) Cash Flow Statement:

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing and financing cash flows. The Cash flow from Operating, Investing and Financing Activities are segregated. However, during the period into consideration, there Is no statutory requirement to prepare the Cash Flow Statement.

(n) Accounting of Gratuity:

The Company follows mercantile method of accounting except the Gratuity Payment, which are accounted on cash basis.

(D) Additional Regulatory Information;

(a) The Company does not own benami properties. Further, there are no proceedings which 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 rules made thereunder.

(b) During the current and previous year, the Company has not traded or invested in Crypto currency or Virtual Currency.

(c) There were no Scheme of Arrangements entered by the Company during the current and previous, whichl required approval from the Competent Authority in terms of sections 230 to 237 of the Companies Art, 2013.

(d> he company does not have any holding company or subsidiary Company.

(e) The Company is not covered by the provisions of Section 135 of the Companies Act, 2013 related to Corporate Social Responsibility.

(f) Undisclosed income - The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

(g) The Company does not have relationship with any company which is struck off.

(h) he company has not advanced or loaned or invested funds to any other person or entity including foreign! entity (intermediaries) with the understanding that the intermediary shall;

(i) Directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

(ii) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

(I) The company has not received any fund from any person or entity including foreign entity (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:

(i) Directly or indirectly lend or investment in any other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

(ii) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

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Mar 31, 2024

(A) Corporate Information :

M/s. Crown lifters limited is limited company domiciled In India and Incorporated under ttie provisions of Ihe Companies

A a. 1956- The Company has been registered in National Stock Exchange of India.

The Company ts engaged in the business hiring ol the Cranes.

(B) Basis of preparation :

(a) The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply In all material respects with the Accounting Standards notified under the Companies (Accounting Standards! Rules. 2006, (as amended) which continue to apply as per section 133 of the Companies Act, 2013 read with Rule 7 of the Companies) Accounts) Rules. 2014 and ocher recognised accounting practices and policies generally accepted in India. The financial statements have been prepared on an accrual basis and under the historical cost convention unless otherwise specified. The accounting policies adopted In the preparation of financial statements are consistent with those of previous year unless otherwise specified.

(b) All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out In the Schedule III to the Companies Act, 2013. Based on the nature of products and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of assets and liabilities.

(C) Summary of significant accounting policies :

(a) Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires the Management to make estimates and assumptions that affect the reported balances of assets and liabilities as of the date of the financial statements and reported amounts of income and expenses during the period. Management believes that the estimates used in the preparation of financial statements are prudent and reasonable- Actual results could differ from the estimates

(b) Property, Plant and Equipment:

(I) Property, plant and Equipment are stated at cost, net of accumulated depredation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs If capitalization criteria are met and directly attributable cost of br nging the asset to its working condition for the intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.

(ii) Subsequent expenditure related to an item of fixed asset Is added to Its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing Property, Plant and Equipment, including day-to-day repair and maintenance expenditure and cost of replacing parts, are changed to the statement of profit and lots for the period during wh ich such expenses are incurred

(c) Depreciation on Property, Plant and Equipment:

Depreciation it provided on a pro- rata basis on the straight line method as prescribed under Schedule It to the Companies Act, 2013. Depreciation is provided on pro rata basis on addition during the year,

(d) Revenue Recognition:

Revenue is recognized to the extent that it is probable that the economic benefits vnll flow to the company and the revenue can be reliably measured The following specific recognition criteria must also be met before revenue ts recognized:

(i) Sale of Goods t

Revenue from sale of goods Is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer, usually on delivery of the goods

(U) Interest:

Interest Income Is recognized on a time proportion basis taking Into account the amount outstanding and the applicable interest rate. Interest income is included under the head "other Income” In the statement of profit and loss.

(e) Operating leases:

leases, where the lessor effectively retains substantially alt the risks and benefits of ownership of the leased asset, are classified as operatic leases. Operating lease payments are recognized as an expense In the Statement of Profit and loss on a straight-line basis over the lease term, in accordance with Accounting Standard 19 on ’Leases'', as notified under the Companies (Accounting Standards) Rules, 2006, as amended.

|f> Income Taxes:

(I) Tax expense comprises current and deferred tax. Current income-tax Is measured at the amount expected to be paid to the tax authorities in accordance with the Income-tax Act, 1961 enacted in India and tax laws prevailing m the respective rax jurisdictions where the company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date. Current Income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit and loss.

(II) Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted on the Balance Sfeet date.

(g) Segment Reporting:

The company has only one Ime ol busmen segment, therefore, no separate information for segment-wise disclosure Is required.

(h) Inventories:

(i) Raw materials are stated at lower of cost or net realisable value on First in First out method

(U) Stock of finished goods and materials n process have been valued at cost or net realizable value whichever is lower.

(i) Foreign Exchange Translations :

(•) Foreign currency transactions dunng the year are recorded at the rates of exchange prevailing on the date of the transaction. Foreign currency assets and liabilities are translated Into rupees at the exchange rates prevailing on the date of the Balance Sheet, Ail exchange differences are dealt with in the statement of profit and loss. Differences between the forward exchange rates and the exchange rates at the date of transactions are recorded as income or expenses over the life of the contracts

(U) There is no foreign Exchange Transactions during the year into consideration.

(i) Earning per Share :

Basic Earnings per share is calculated by dividing the net profit for the period attributable to the equity shareholders by the weighted average number of equity shares outstanding during the period- For the purpose of calculating diluted earnings per share, the net profit for the period attributable to the equity shareholders and the weighted average number of equity shares cutstanding during the period Is adjusted for the effects of all dilutive potential equity shares.

(k) Provisions and Contingent Liabilities :

(i| Provisions:

A provision is recognized when the company has a present obligation as a result of past event. It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

(ii) Contingent Liabilities :

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 ae recognized because it cannot be measured reliably The company does not recognize a contingent liability but discloses its existence in the financial statements-

(I) Cash and Cash Equivalents :

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and In hand and shortterm Investments with an original maturity of twelve months or less,

(m| Cash Flow Statement:

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non cash nature, any deferrals or accruals of past or future operating cash receipts or payments and Item of income or expenses associated with Investing and financing cash flows. The Cash flow from Operating. Investing and Financing Activities are segregated- However, during the period into consideration, there is no statutory requirement to prepare the Cash Flow Statement.

(n) Accounting of Gratuity !

The Company follows mercantile method of accounting except Use Gratuity Payment, wtuch are accounted on cash basis

(D) Additional Regulatory Information;

(a) The Company does not own benami propert.es further, there are no proceedings which 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 rules made thereunder

(b) During the current and previous year, the Company has not traded or invested in Crypto currency or Virtual Currency.

(c) There were no Scheme of Arrangements entered by the Company during the current and previous, which required approval from the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

(d) The company does not have any holding company or subsidiary Company.

(e) The Company is not covered by the provisions of Section 135 of the Companies Act, 2013 related to Corporate Social Responsibility

(f) Undisclosed income ¦ The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income dunng the year in the tax assessments under the Income Tax Act, 1961

(8) The Company does not have relationship with any company which is struck off.

(h) The company has not advanced or loaned or Invested funds to any other person or entity Including foreign entity (intermediaries) with the understanding that the Intermediary shall;

(i) Directly or indirectly lend or Invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

(fi) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

(i) The company has not received any fund from any person or entity including foreign entity (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall;

(I) Directly or indirectly lend or Investment In any other person or entity Identified In any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

(II) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

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Mar 31, 2023

Data not Good