A Oneindia Venture
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అకౌంట్స్ గమనికలుShree Krishna Paper Mills & Industries Ltd.
Mar 31, 2025
O. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event,
where 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.
Where a provision is measured using the cash flows estimates to settle the present obligation, its carrying amount is the
present value of those cash flows. Where the effect is material, the provision is discounted to net present value using an
appropriate current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.
Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence
or non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any
present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the
obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable
outflow of resources are provided for.
Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
P. LEASES
The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements, if the contract
conveys the right to control the use of an identified asset.
To assess whether a contract conveys the right to control the use of an identified asset, the Company assess whether it
involves the use of an identified asset and the Company has substantially all of the economic benefits from use of the asset
and has right to direct the use of the identified asset. The cost of the right-of-use asset shall comprise of the amount of the
initial measurement of the lease liability adjusted for any lease payments made at or before the commencement date plus
any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less any accumulated
depreciation, accumulated impairment losses, if any and adjusted for any re-measurement of the lease liability. The
right-of-use assets is depreciated using the straight-line method from the commencement date over the shorter of lease
term or useful life of right-of-use asset.
The Company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease
term of 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with
these leases as an expense on a straight-line basis over the lease term.
Q. IMPAIRMENT OF ASSETS
Impairment of non-financial assets
The Company assesses at each reporting date as to whether there is any indication that any property, plant and
equipment and intangible assets or group of assets, called Cash Generating Units (CGU) may be impaired. If any such
indication exists, the recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any.
When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable
amount of the CGU to which the asset belongs. In assessing value in use, the estimated future cash flows are discounted
to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and
the risks specific to the asset.
When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased
to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying
amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in prior years. A reversal of an impairment loss is recognised immediately in the statement of profit and loss.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and
recognition of impairment loss for financial assets. ECL is the difference between all contractual cash flows that are due to
the Company in accordance with the contract and all the cash flows that the Company expects to receive.
The Company applies approach permitted by Ind AS 109, financial instruments, which requires expected lifetime losses
to be recognised from initial recognition of receivables.
An impairment loss is recognised in the Statement of Profit and Loss to the extent, assets carrying amount exceeds its
recoverable amount. The recoverable amount is higher of an asset fair value less cost of disposal and value in use. Value
in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that
reflects current market assessments of the time value of money and risk specific to the assets.
The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of
recoverable amount.
R. FINANCIAL INSTRUMENTS
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition
of financial asset or financial liability. Purchase and sale of financial assets are recognized using trade date accounting.
Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and on hand and demand deposits with an original maturity of three
months or less and short-term highly liquid investments that are readily convertible into known amounts of cash and
which are subject to an insignificant risk of changes in value. Cash and cash equivalents include balances with banks
which are unrestricted for withdrawal and usage.
(i) Financial Assets
Initial Recognition and Measurement
Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through
Other Comprehensive Income (OCI), and fair value through profit or loss. The classification of financial assets at
initial recognition depends on the financial asset''s contractual cash flow characteristics and the Company''s business
model for managing them. With the exception of trade receivables that do not contain a significant financing
component or for which the Company has applied the practical expedient, the Company initially measures a
financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction
costs. Trade receivables that do not contain a significant financing component or for which the Company has
applied the practical expedient are measured at the transaction price determined under Ind AS 115.
Subsequent Measurement
Financial Assets at Amortised Cost
Financial assets are subsequently measured at amortised cost if these financial assets are held within a business
model whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of
the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.
Financial Assets At Fair Value Through Other Comprehensive Income (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if such financial assets are held
within a business model whose objective is to hold these assets in order to collect contractual cash flows or to sell
such financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.
Financial Assets At Fair Value Through Profit or Loss (FVTPL)
Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair value
through other comprehensive income on initial recognition. The transaction costs directly attributable to the
acquisition of financial assets and liabilities at fair value through profit or loss are immediately recognised in profit or
loss.
All equity investments are measured at fair value in the balance sheet, with value changes recognized in the
statement of profit and loss, except for those equity investments for which the Company has elected an irrevocable
option to present value changes in OCI.
(ii) Financial Liabilities
Initial recognition and measurement financial liabilities are classified, at initial recognition, as financial liabilities at
fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments
in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of
loans and borrowings and payables, net of directly attributable transaction costs. The Company''s financial liabilities
include trade and other payables, loans and borrowings including bank overdrafts.
Subsequent measurement
For purposes of subsequent measurement, financial l iabilities are classified in two categories:
⢠Financial liabilities at fair value through profit or loss
⢠Financial liabilities at amortised cost (loans and borrowings)
(iii) Derivative Financial Instruments
The Company uses derivative financial instruments, such as forward currency contracts to hedge its foreign currency
risks. Derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered
into and are subsequently re-measured at their fair value at the end of each period. The method of recognizing the
resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, on the
nature of the item being hedged. Any gains or losses arising from changes in the fair value of derivatives are taken
directly to profit or loss.
De-recognition of Financial Instruments:
A financial asset is primarily de-recognised when the rights to receive cash flows from the asset have expired or the
Company has transferred its rights to receive cash flows from the asset and has substantially transferred all the risks
and rewards of ownership of the financial assets.
A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the
de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying
amounts is recognised in the statement of profit and loss.
Offsetting of Financial Instruments :
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or
to realise the assets and settle the liabilities simultaneously.
S. NON-CURRENT ASSETS HELD FOR SALE
Non-current assets or disposal comprising of assets and liabilities are classified as ''held for sale'' when all of the following
criteria''s are met (i) decision has been made to sell (ii) the assets are available for immediate sale in its present condition
(iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be conducted within twelve
months of the Balance Sheet date. Subsequently, such non-current assets and disposal groups classified as held for sale
are measured at lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not
depreciated or amortised.
Non-current assets classified as held for sale are presented separately in the balance sheet.
T. GOVERNMENT GRANTS
Government grants are recognised when there is a reasonable assurance that the Company will comply with the relevant
conditions and the grant will be received. Government grants are recognised in the statement of profit and loss, either on
a systematic basis when the Company recognises, as expenses, the related costs that the grants are intended to
compensate or, immediately if the costs have already been incurred. Government grants related to assets are deferred
and amortised over the useful life of the asset. Government grants related to income are presented as an offset against the
related expenditure and government grants that are awarded as incentives with no ongoing performance obligations to
the Company are recognised as income in the period in which the grant is received.
U. OPERATING SEGMENTS
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating
Decision Maker (''CODM'') of the Company. The CODM is responsible for allocating resources and assessing
performance of the operating segments of the Company.
V. EXCEPTIONAL ITEMS
When items of income and expense within statement of profit and loss from ordinary activities are of such size, nature or
incidence that their disclosure is relevant to explain the performance of the enterprise for the period, the nature and
amount of such material items are disclosed separately as exceptional items.
(b) Rights, preferences and restrictions attached to equity shares:
The Company has one class of equity shares referred to as equity shares having at face value of ''10/- each. Each share¬
holder is entitled to one vote per share. Holders of equity shares are entitled to dividend, in proportion to the paid up amount,
proposed by Board of Directors subject to approval of the shareholders in the ensuing annual general meeting except in case
of interim dividend. In the event of liquidation, the equity-holders are eligible to receive the remaining assets of the Company
after distribution of all preferential amounts, in proportion to their shareholding.
Remaining performance obligations
The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially
unsatisfied) as of the end of the reporting period are having performance obligations, which are a part of the contracts that
has an original expected duration of one year or less. Hence, the Company has applied practical expedient as per para 121
of the Ind AS 115 in regards to remaining performance obligations.
47) Disclosure of the amounts due to the Micro and Small Enterprises as required under the "Micro, Small and Medium
Enterprises Development Act, 2006" is based on the information available with the Company regarding the status of
registration of such vendors under the said Act, as per the intimation received from parties on the request made by the
Company as given under:
48) Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating
Decision Maker ("CODM") of the Company. The CODM, who is responsible for allocating resources and assessing
performance of the operating segments, has been identified as the Managing Director of the Company. The Company
operates only in one Business Segment i.e. manufacturing and sale of paper and the activities incidental thereto, hence
does not have any reportable Segments as per Ind AS 108 "Operating Segments".
49) CAPITAL MANAGEMENT
The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to
optimise returns to our shareholders.
For the purposes of the Company''s capital management, capital includes issued capital and all other equity reserves.
The primary objective of the Company''s capital management is to maximise shareholder value. The Company
manages it''s capital structure and makes adjustments in the light of changes in economic environment and the
requirements of the financial covenants. The Company''s Capital Management objectives are to maintain equity
including all reserves to protect economic viability and to finance any growth opportunities that may be available in
future so as to maximize shareholders'' value. The Company is monitoring capital using debt equity ratio as its base,
which is debt to equity.
The following methods and assumptions were used to estimate the fair values:
The fair values of the long term borrowings, loans and other deferred payments are determined by using discounted cash
flow method using the appropriate discount rate. The discount rate is determined using other similar instruments
incorporating the risk associated.
The fair value of long term quoted investment in equity instruments are measured at quoted market price.
The fair values of the unquoted instruments and other financial assets and liabilities have been estimated using a
discounted cash flow method using the appropriate discount rate. The discount rate is determined using other similar
instruments incorporating the risk associated.
The Company executed derivative financial instruments such as cross currency interest rate swap being valued using
valuation techniques, which employs use of market observable inputs. The Company uses mark to market valuation
provided by bank for its valuation.
There were no transfers between level 1 and level 2 for recurring fair value measurements during the year.
Carrying amount of Financial Assets and Liabilities carried at Amortized Cost is considered a reasonable approximation of
Fair Value.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement
as a whole;
Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable.
Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.
52) FINANCIAL RISK MANAGEMENT
The Company''s principal financial liabilities, other than derivatives, comprise borrowings, trade and other payables. The
Company''s principal financial assets include, trade and other receivables and cash and cash equivalents that derive
directly from its operations. The Company also holds FVTOCI investments and enters into derivative transactions.
The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management monitors these risks
and provides assurance that the financial risk activities are governed by appropriate policies and procedures. The
financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. All
derivative activities for risk management purposes are carried out by teams that have the appropriate skills, experience
and supervision. The Board of Directors reviews and agrees policies for managing each of these risks, which are
summarised below:
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 the Company''s receivables from customers, loans and investments.
Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of counterparty to which the Company grants credit terms in the normal course of business.
Trade receivables
The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in
several jurisdictions and industries and operate in largely independent markets. The credit worthiness are monitored at
periodical intervals. The maximum exposure to credit risk at the reporting date is the carrying value of each class of
financial assets.
The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company
uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into account external and
internal risk factors and historical data of credit losses from various customers.
Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they become due. The
Company manages liquidity risk by continuously monitoring forecast and actual cash flows on daily, monthly and yearly
basis. The Company ensures that there is a free credit limit available at the start of the year which is sufficient for repayments
getting due in the ensuing year. Loan arrangements, credit limits with various banks including working capital and monitoring
of operational and working capital issues are always kept in mind for better liquidity management.
The Company has unutilised working capital limits from banks of ''376.20 lakhs as on March 31,2025; ''545.70 lakhs as on
March 31,2024.
Market Risk- Foreign Currency Risk
This is the risk that the Company may suffer losses as a result of adverse exchange rate movement during the relevant period. As a
policy, the Company is covering foreign exchange risk on account of import to avoid any loss situation due to adverse
fluctuations in currency rates. There is periodical review of foreign exchange transactions and hedging by the Company''s
executives.
Derivative instruments and unhedged foreign currency exposure:
(a) Derivative outstanding as at the reporting date:
Market Risk- Price Risk Exposure
Equity Price Risk is related to the change in market reference price of the investments in equity securities. The Company is
exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading
purposes. The Company does not actively trade these investments. Profit /(Loss) for the year would increase/ (decrease) as a
result of gains/ losses on equity securities as at fair value through profit or loss.
Sensitivity
The table below summarizes the impact of increases/decreases of the BSE index on the Company''s equity and Gain/Loss for
the period. The analysis is based on the assumption that the index has increased by 5% or decreased by 5% with all other
variables held constant, and that all the Company''s equity instruments moved in line with the index:
Interest Rate Risk
The Company has loan facilities on floating interest rate, which exposes the Company to the risk of changes in interest
rates. The management monitors the interest rate movement and manages the interest rate risk by evaluating interest rate
swaps etc. based on the market / risk perception.
For the years ended March 31, 2025 and March 31, 2024, every 50 basis point decrease in the floating interest rate
component applicable to its loans and borrowings would increase the Company''s profit before tax by approximately
''8.07 Lakhs and ''6.22 Lakhs respectively. A 50 basis point increase in floating interest rate would have led to an equal but
opposite effect.
Commodity Rate Risk
Exposure to market risk with respect to commodity prices primarily arises from the Company''s purchases of waste paper
including the raw material components and sale of various types of papers. These are commodity products, whose prices
may fluctuate significantly over short periods of time. The prices of the Company''s some of the raw materials generally
fluctuate in line with commodity cycles, although the prices of raw materials used in the Company''s business are
generally more volatile. Commodity price risk exposure is evaluated and managed through operating procedures and
sourcing policies. As of March 31,2025, the Company had not entered into any material derivative contracts to hedge
exposure to fluctuations in commodity prices.
d) Terms and conditions of transactions with related parties:
The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm''s length
transactions. Outstanding balances at the year end are unsecured and will be settled in cash. There have been no
guarantees received or provided for any related party receivables or payables.
e) The Company does not have any subsidiary/associates.
54) RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES PURSUANT TO IND AS 7 - CASH
FLOWS
The changes in the Company''s liabilities arising from financing activities can be classified as follows:
including differential value of amortisation in accordance with Ind AS ''56.67 lakhs in March 31,2025 and ''53.63
lakhs in March 31, 2024.
55) During the year ended March 31,2025 no material foreseeable loss (March 31,2024: Nil) was incurred for any long-term
contract including derivative contracts.
56) There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on
the balance sheet date.
57) The title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease
agreements are duly executed in favour of the lessee), are held in the name of the Company.
58) The Company has borrowings from banks on the basis of security of current assets and the quarterly returns filed by the
Company with the banks are in accordance with the books of account of the Company for the respective quarters.
59) 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 during the year ended March 31,2025 and March 31,2024.
60) No proceedings have been initiated or are pending against the Company for holding any benami property under the
Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder, as at March 31, 2025 and
March 31,2024.
61) The Company is not declared wilful defaulter by any bank or financial Institution or other lender during the year ended
March 31,2025 and March 31,2024.
62) (a)The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether, directly or indirectly
lend or invest in other persons/ entities identified in any manner whatsoever by or on behalf of the Company (''ultimate
beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(b) 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 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
63) There have been no transactions which have not been recorded in the books of account, that have been surrendered or
disclosed as income during the year ended March 31,2025 and March 31,2024, in the tax assessments under the Income
Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly recorded
in the books of account during the year ended March 31,2025 and March 31,2024.
64) The Company has not traded or invested in Crypto Currency or Virtual Currency during the year ended March 31,2025
and March 31,2024.
65) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of
Companies beyond the statutory period.
66) During the year, the Company has utilised the borrowings for the specific purposes for which they were taken.
67) The Company has not revalued its Property, Plant and Equipment, Intangible and Right of Use asset during the year.
68) The Company has used accounting software for maintaining its books of account which has a feature of recording audit
trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software.
Further, except where audit trail was not enabled in the prior year, the audit trail has been preserved by the Company as
per the statutory requirements for record retention.
69) Comparative corresponding figures for the previous year have been re-grouped and/or re-arranged wherever considered
necessary.
70) The financial statements were approved for issue in accordance with a resolution of the Board of Directors of the
Company on May 30, 2025.
The accompanying notes are an integral part of the financial statements
As per our attached report of even date For and on behalf of the Board of Directors °f
Shree Krishna Paper Mills & Industries Ltd.
For Ashwani Garg & Associates r
Firm Registration No. 019179N
Chartered Accountants
Sanjiv Kumar Agarwal Narendra Kumar Pasari
Chief Financial Officer Managing Director
CA Ashwani Garg DIN : 00101426
Proprietor
Membership No. 502010
Ritika Priyam Dev Kishan Chanda
Company Secretary Director
Membership No. A53502 DIN : 00407123
Place: New Delhi Place: New Delhi
Date: May 30, 2025 Date: May 30, 2025
Mar 31, 2024
O. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, where 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.
Where a provision is measured using the cash flows estimates to settle the present obligation, its carrying amount is the present value of those cash flows. Where the effect is material, the provision is discounted to net present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.
Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.
Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
P. LEASES
The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements, if the contract conveys the right to control the use of an identified asset.
To assess whether a contract conveys the right to control the use of an identified asset, the Company assess whether it involves the use of an identified asset and the Company has substantially all of the economic benefits from use of the asset and has right to direct the use of the identified asset. The cost of the right-of-use asset shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less any accumulated depreciation, accumulated impairment losses, if any and adjusted for any remeasurement of the lease liability. The right-of-use assets is depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of right-of-use asset.
Q. IMPAIRMENT OF ASSETS Impairment of non-financial assets
The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment and intangible assets or group of assets, called Cash Generating Units (CGU) may be impaired. If any such indication exists, the recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which the asset belongs. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss for financial assets. ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive.
The Company applies approach permitted by Ind AS 109, financial instruments, which requires expected lifetime losses to be recognised from initial recognition of receivables.
An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset''s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specific to the assets.
The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.
R. FINANCIAL INSTRUMENTS
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability. Purchase and sale of financial assets are recognized using trade date accounting.
Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and on hand and demand deposits with an original maturity of three months or less and short-term highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash equivalents include balances with banks which are unrestricted for withdrawal and usage.
(i) Financial Assets
Initial Recognition and Measurement
Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset''s contractual cash flow characteristics and the Company''s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price determined under Ind AS 115.
Subsequent Measurement
Financial Assets at Amortised Cost
Financial assets are subsequently measured at amortised cost if these financial assets are held within a business model whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial Assets At Fair Value Through Other Comprehensive Income (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if such financial assets are held within a business model whose objective is to hold these assets in order to collect contractual cash flows or to sell such financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial Assets At Fair Value Through Profit or Loss (FVTPL)
Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income on initial recognition. The transaction costs directly attributable to the acquisition of financial assets and liabilities at fair value through profit or loss are immediately recognised in profit or loss.
All equity investments are measured at fair value in the balance sheet, with value changes recognized in the statement of profit and loss, except for those equity investments for which the Company has elected an irrevocable option to present value changes in OCI.
(ii) Financial Liabilities
Initial recognition and measurement financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.
Subsequent measurement.
For purposes of subsequent measurement, financial l iabilities are classified in two categories:
⢠Financial liabilities at fair value through profit or loss
⢠Financial liabilities at amortised cost (loans and borrowings)
(iii) Derivative Financial Instruments
The Company uses derivative financial instruments, such as forward currency contracts to hedge its foreign currency risks. Derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value at the end of each period. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, on the nature of the item being hedged. Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or loss.
Derecognition of Financial Instruments:
A financial asset is primarily derecognised when the rights to receive cash flows from the asset have expired or the Company has transferred its rights to receive cash flows from the asset and has substantially transferred all the risks and rewards of ownership of the financial assets.
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit and loss.
Offsetting of Financial Instruments
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.
S. NON-CURRENT ASSETS HELD FOR SALE
Non-current assets or disposal comprising of assets and liabilities are classified as ''held for sale'' when all of the following criteria''s are met (i) decision has been made to sell (ii) the assets are available for immediate sale in its present condition (iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be conducted within twelve months of the Balance Sheet date. Subsequently, such non-current assets and disposal groups classified as held for sale are measured at lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised.
Non-current assets classified as held for sale are presented separately in the balance sheet.
T. GOVERNMENT GRANTS
Government grants are recognised when there is a reasonable assurance that the Company will comply with the relevant conditions and the grant will be received. Government grants are recognised in the statement of profit and loss, either on a systematic basis when the Company recognises, as expenses, the related costs that the grants are intended to compensate or, immediately if the costs have already been incurred. Government grants related to assets are deferred and amortised over the useful life of the asset. Government grants related to income are presented as an offset against the related expenditure and government grants that are awarded as incentives with no ongoing performance obligations to the Company are recognised as income in the period in which the grant is received.
U. EXCEPTIONAL ITEMS
When items of income and expense within statement of profit and loss from ordinary activities are of such size, nature or incidence that their disclosure is relevant to explain the performance of the enterprise for the period, the nature and amount of such material items are disclosed separately as exceptional items.
48) CAPITAL MANAGEMENT
The Company aims to manage its capital efficiently so as to safe guard its ability to continue as a going concern and to optimise returns to our shareholders.
For the purposes of the Company''s capital management, capital includes issued capital and all other equity reserves. The primary objective of the Company''s capital management is to maximise shareholder value. The Company manages it''s
flow method using the appropriate discount rate. The discount rate is determined using other similar instruments incorporating the risk associated.
The fair value of long term quoted investment in equity instruments are measured at quoted market price.
The fair values of the unquoted instruments and other financial assets and liabilities have been estimated using a discounted cash flow method using the appropriate discount rate. The discount rate is determined using other similar instruments incorporating the risk associated.
The Company executed derivative financial instruments such as cross currency interest rate swap being valued using valuation techniques, which employs use of market observable inputs. The Company uses mark to market valuation provided by bank for its valuation.
There were no transfers between level 1 and level 2 for recurring fair value measurements during the year.
Carrying amount of Financial Assets and Liabilities carried at Amortized Cost is considered a reasonable approximation of Fair Value.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole;
Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
51) FINANCIAL RISK MANAGEMENT
The Company''s principal financial liabilities, other than derivatives, comprise borrowings, trade and other payables. The Company''s principal financial assets include, trade and other receivables and cash and cash equivalents that derive directly from its operations. The Company also holds FVTOCI investments and enters into derivative transactions.
The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management monitors these risks and provides assurance that the financial risk activities are governed by appropriate policies and procedures. The financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. All derivative activities for risk management purposes are carried out by teams that have the appropriate skills, experience and supervision. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below:
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 the Company''s receivables from customers, loans and investments. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of counterparty to which the Company grants credit terms in the normal course of business.
Trade receivables
The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets. The credit worthiness are monitored at periodical intervals. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.
The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into account external and internal risk factors and historical data of credit losses from various customers.
Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they become due. The Company manages liquidity risk by continuously monitoring forecast and actual cash flows on daily, monthly and yearly basis. The Company ensures that there is a free credit limit available at the start of the year which is sufficient for repayments getting due in the ensuing year. Loan arrangements, credit limits with various banks including working capital and monitoring of operational and working capital issues are always kept in mind for better liquidity management.
The Company has unutilised working capital limits from banks of ''545.70 lakhs as on March 31,2024; ''898.24 lakhs as on March 31,2023.
Market Risk- Foreign Currency Risk
This is the risk that the Company may suffer losses as a result of adverse exchange rate movement during the relevant period. As a policy, the Company is covering foreign exchange risk on account of import to avoid any loss situation due to adverse fluctuations in currency rates. There is periodical review of foreign exchange transactions and hedging by the Company''s executives.
Market Risk- Price Risk Exposure
Equity Price Risk is related to the change in market reference price of the investments in equity securities. The Company is exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments. Profit /(Loss) for the year would increase/ (decrease) as a result of gains/ losses on equity securities as at fair value through profit or loss.
Sensitivity
The table below summarizes the impact of increases/decreases of the BSE index on the Company''s equity and Gain/Loss for the period. The analysis is based on the assumption that the index has increased by 5 % or decreased by 5 % with all other variables held constant, and that all the Company''s equity instruments moved in l ine with the index:
Interest Rate Risk
The Company has loan facilities on floating interest rate, which exposes the Company to the risk of changes in interest rates. The management monitors the interest rate movement and manages the interest rate risk by evaluating interest rate swaps etc. based on the market / risk perception.
For the years ended March 31, 2024 and March 31, 2023, every 50 basis point decrease in the floating interest rate component applicable to its loans and borrowings would increase/(decrease) the Company''s profit/(loss) before tax by approximately ''6.22 Lakhs and ''9.26 Lakhs respectively. A 50 basis point increase in floating interest rate would have led to an equal but opposite effect.
Commodity Rate Risk
Exposure to market risk with respect to commodity prices primarily arises from the Company''s purchases of waste paper including the raw material components and sale of various types of papers. These are commodity products, whose prices may fluctuate significantly over short periods of time. The prices of the Company''s some of the raw materials generally fluctuate in line with commodity cycles, although the prices of raw materials used in the Company''s business are generally more volatile. Commodity price risk exposure is evaluated and managed through operating procedures and sourcing policies. As of March 31,2024, the Company had not entered into any material derivative contracts to hedge exposure to fluctuations in commodity prices.
54) During the year ended March 31,2024 no material foreseeable loss (March 31,2023: Nil) was incurred for any long-term contract including derivative contracts.
55) There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on the balance sheet date.
56) The title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee), are held in the name of the Company.
57) The Company has borrowings from banks on the basis of security of current assets and the quarterly returns filed by the Company with the banks are in accordance with the books of account of the Company for the respective quarters.
58) 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 during the year ended March 31,2024 and March 31,2023.
59) No proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder, as at March 31, 2024 and March 31, 2023
60) The Company is not declared wilful defaulter by any bank or financial Institution or other lender during the year ended March 31,2024 and March 31,2023.
61) (a) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether, directly or indirectly lend or invest in other persons/ entities identified in any manner whatsoever by or on behalf of the Company (''ultimate beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(b) 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 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
62) There have been no transactions which have not been recorded in the books of account, that have been surrendered or disclosed as income during the year ended March 31,2024 and March 31,2023, in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly recorded in the books of account during the year ended March 31,2024 and March 31,2023.
63) The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended March 31,2024 and March 31,2023.
64) The Company was enjoying credit facilities under consortium arrangements of four banks namely Bank of India, Bank of Baroda, Union Bank of India and CSB Bank Limited. during the year, the Company has repaid all the dues of Union Bank of India and CSB Bank Limited and now, credit facilities are being availed under the consortium arrangements of remaining two Banks.
65) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.
66) During the year, the Company has utilised the borrowings for the specific purposes for which they were taken.
67) The Company has not revalued its Property, Plant and Equipment, Intangible and Right of Use asset during the year.
68) The Company has used accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software.
69) Comparative corresponding figures for the previous year have been re-grouped and/or re-arranged wherever considered necessary.
70) The financial statements were approved for issue in accordance with a resolution of the Board of Directors of the Company on May 30, 2024.
The accompanying notes are an integral part of the financial statements
As per our attached report of even date For and on behalf of the Board of Directors of
For Radheshyam Sharma & Co. Shree Krishna Paper Mills & Industries Limited
Firm Registration No. 016172N
Chartered Accountants
Sanjiv Kumar Agarwal Narendra Kumar Pasari
Chief Financial Officer Managing Director
CA Radheshyam Sharma
Proprietor
Membership No. 097127
Ritika Priyam Dev Kishan Chanda
Company Secretary Director
Membership No. A53502 DIN : 00407123
Place: New Delhi Place: New Delhi
Date: May 30, 2024 Date: May 30, 2024
Mar 31, 2023
O. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, where 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.
Where a provision is measured using the cash flows estimates to settle the present obligation, its carrying amount is the present value of those cash flows. Where the effect is material, the provision is discounted to net present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.
Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.
Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
P. LEASES
The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements, if the contract conveys the right to control the use of an identified asset.
The contract conveys the right to control the use of an identified asset, if it involves the use of an identified asset and the Company has substantially all of the economic benefits from use of the asset and has right to direct the use of the identified asset. The cost of the right-of-use asset shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less any accumulated depreciation, accumulated impairment losses, if any and adjusted for any remeasurement of the lease liability. The right-of-use assets is depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of right-of-use asset.
Q. IMPAIRMENT OF ASSETS
Impairment of non-financial assets
The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment and intangible assets or group of assets, called Cash Generating Units (CGU) may be impaired. If any such indication exists, the recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which the asset belongs.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss for financial assets. ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive.
Trade receivables
The Company applies approach permitted by Ind AS 109, financial instruments, which requires expected lifetime losses to be recognised from initial recognition of receivables.
An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset''s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specific to the assets.
The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.
R. FINANCIAL INSTRUMENTS
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability. Purchase and sale of financial assets are recognized using trade date accounting.
Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and on hand and demand deposits with an original maturity of three months or less and short-term highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash equivalents include balances with banks which are unrestricted for withdrawal and usage.
(i) Financial Assets
Initial Recognition and Measurement
All financial assets are recognized initially at fair value plus, in the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.
Subsequent Measurement
Financial Assets at Amortised Cost
Financial assets are subsequently measured at amortised cost if these financial assets are held within a business model whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial Assets At Fair Value Through Other Comprehensive Income (FVTOCI)
Financial assets are measured at fair value through other comprehensive income if such financial assets are held within a business model whose objective is to hold these assets in order to collect contractual cash flows or to sell such financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial Assets At Fair Value Through Profit or Loss (FVTPL)
Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income on initial recognition. The transaction costs directly attributable to the acquisition of financial assets and liabilities at fair value through profit or loss are immediately recognised in profit or loss.
All equity investments are measured at fair value in the balance sheet, with value changes recognized in the statement of profit and loss, except for those equity investments for which the Company has elected an irrevocable option to present value changes in OCI.
(ii) Financial Liabilities
All financial liabilities are recognized at fair value at initial recognition and in case of loans, net of directly attributable cost. Fees of recurring nature are directly recognised in the Statement of Profit and Loss as finance cost. Financial Liabilities are subsequently measured at amortised cost using the effective interest method. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.
(iii) Derivative Financial Instruments
The Company uses derivative financial instruments, such as forward currency contracts to hedge its foreign currency risks. Derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value at the end of each period. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, on the nature of the item being hedged. Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or loss.
Derecognition of Financial Instruments:
A financial asset is primarily derecognised when the rights to receive cash flows from the asset have expired or the Company has transferred its rights to receive cash flows from the asset and has substantially transferred all the risks and rewards of ownership of the financial assets.
A financial liability (or a part of a financial liability) is derecognized from the Company''s Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.
Offsetting of Financial Instruments
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.
S. NON-CURRENT ASSETS HELD FOR SALE
Non-current assets or disposal comprising of assets and liabilities are classified as ''held for sale'' when all of the following criteria''s are met (i) decision has been made to sell (ii) the assets are available for immediate sale in its present condition (iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be conducted within twelve months of the Balance Sheet date. Subsequently, such non-current assets and disposal groups classified as held for sale are measured at lower of its carrying value and fair value less costs to sell. Noncurrent assets held for sale are not depreciated or amortised.
Non-current assets classified as held for sale are presented separately in the balance sheet.
T. GOVERNMENT GRANTS
Government grants are recognised when there is a reasonable assurance that the Company will comply with the relevant conditions and the grant will be received. Government grants are recognised in the statement of profit and loss, either on a systematic basis when the Company recognises, as expenses, the related costs that the grants are intended to compensate or, immediately if the costs have already been incurred. Government grants related to assets are deferred and amortised over the useful life of the asset. Government grants related to income are presented as an offset against the related expenditure, and government grants that are awarded as incentives with no ongoing performance obligations to the Company are recognised as income in the period in which the grant is received.
U. EXCEPTIONAL ITEMS
When items of income and expense within statement of profit and loss from ordinary activities are of such size, nature or incidence that their disclosure is relevant to explain the performance of the enterprise for the period, the nature and amount of such material items are disclosed separately as exceptional items.
(b) Rights, preferences and restrictions attached to equity shares:
The Company has one class of equity shares referred to as equity shares having at face value of ''10/- each. Each shareholder is entitled to one vote per share. Holders of equity shares are entitled to dividend, in proportion to the paid up amount, proposed by Board of Directors subject to approval of the shareholders in the ensuing annual general meeting except in case of interim dividend. In the event of liquidation, the equity-holders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Nature and purpose of reserves
i) Capital Reserve was created on forfeiture of equity shares and will be utilised in accordance with the provision of the Companies Act, 2013.
ii) Securities Premium was created to record the excess of the amount received over the face value of the shares. This reserve will be utilised in accordance with the provision of the Companies Act, 2013.
iii) Capital Redemption Reserve was created for redemption of 4% Cumulative Redeemable Preference Shares of ''100/-each. This reserve will be utilised in accordance with the provision of the Companies Act, 2013.
iv) FVOCI equity investments:
The Company has elected to recognise changes in the fair value of certain investments in equity securities in OCI. These changes are accumulated within the FVOCI equity investment reserve within equity. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised.
The Company aims to manage its capital efficiently so as to safe guard its ability to continue as a going concern and to optimise returns to our shareholders.
For the purposes of the Company''s capital management, capital includes issued capital and all other equity reserves. The primary objective of the Company''s capital management is to maximise shareholder value. The Company manages it''s capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants. The Company''s Capital Management objectives are to maintain equity including all reserves to protect economic viability and to finance any growth opportunities that may be available in future so as to maximize shareholders'' value. The Company is monitoring capital using debt equity ratio as its base, which is debt to equity. Gearing Ratio
The Company''s principal financial liabilities, other than derivatives, comprise borrowings, trade and other payables. The Company''s principal financial assets include loans, trade and other receivables and cash and cash equivalents that derive directly from its operations. The Company also holds FVTOCI investments and enters into derivative transactions
The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management monitors these risks and provides assurance that the financial risk activities are governed by appropriate policies and procedures. The financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. All derivative activities for risk management purposes are carried out by teams that have the appropriate skills, experience and supervision. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below:
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 the Company''s receivables from customers, loans and investments. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of counterparty to which the Company grants credit terms in the normal course of business.
Trade receivables
The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets. The credit worthiness are monitored at periodical intervals. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into account external and internal risk factors and historical data of credit losses from various customers.
Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they become due. The Company manages liquidity risk by continuously monitoring forecast and actual cash flows on daily, monthly and yearly basis. The Company ensures that there is a free credit limit available at the start of the year which is sufficient for repayments getting due in the ensuing year. Loan arrangements, credit limits with various banks including working capital and monitoring of operational and working capital issues are always kept in mind for better liquidity management.
The Company has unutilised working capital limits from banks of ''898.24 lakhs as on March 31, 2023; ''486.84 lakhs as on March 31, 2022.
Market Risk- Foreign Currency Risk
This is the risk that the Company may suffer losses as a result of adverse exchange rate movement during the relevant period. As a policy, the Company is covering foreign exchange risk on account of import to avoid any loss situation due to adverse fluctuations in currency rates. There is periodical review of foreign exchange transactions and hedging by the Company''s executives.
Market Risk- Price Risk Exposure
Equity Price Risk is related to the change in market reference price of the investments in equity securities. The Company is exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments. Profit /(Loss) for the year would increase/ (decrease) as a result of gains/ losses on equity securities as at fair value through profit or loss.
Sensitivity
The table below summarizes the impact of increases/decreases of the BSE index on the Company''s equity and Gain/Loss for the period. The analysis is based on the assumption that the index has increased by 5 % or decreased by 5 % with all other variables held constant, and that all the Company''s equity instruments moved in line with the index:
Impact on Profit/(loss) before tax:
Interest Rate Risk
The Company has loan facilities on floating interest rate, which exposes the Company to the risk of changes in interest rates. The management monitors the interest rate movement and manages the interest rate risk by evaluating interest rate swaps etc. based on the market / risk perception.
For the years ended March 31, 2023 and March 31, 2022, every 50 basis point decrease in the floating interest rate component applicable to its loans and borrowings would increase/(decrease) the Company''s profit/(loss) before tax by approximately ''9.26 Lakhs and ''10.20 Lakhs respectively. A 50 basis point increase in floating interest rate would have led to an equal but opposite effect.
Commodity Rate Risk
Exposure to market risk with respect to commodity prices primarily arises from the Company''s purchases of waste paper including the raw material components and sale of various types of papers. These are commodity products, whose prices may fluctuate significantly over short periods of time. The prices of the Company''s some of the raw materials generally fluctuate in line with commodity cycles, although the prices of raw materials used in the Company''s business are generally more volatile. Commodity price risk exposure is evaluated and managed through operating procedures and sourcing policies. As of March 31, 2023, the Company had not entered into any material derivative contracts to hedge exposure to fluctuations in commodity prices.
61) 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 during the year ended March 31, 2023 and March 31, 2022.
62) No proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder, as at March 31, 2023 and March 31, 2022
63) The Company is not declared wilful defaulter by any bank or financial Institution or other lender during the year ended March 31, 2023 and March 31,2022.
64) (a) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether, directly or indirectly lend or invest in other persons/ entities identified in any manner whatsoever by or on behalf of the Company (''ultimate beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(b) 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 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
65) There have been no transactions which have not been recorded in the books of account, that have been surrendered or disclosed as income during the year ended March 31, 2023 and March 31, 2022, in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly recorded in the books of account during the year ended March 31, 2023 and March 31, 2022.
66) The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended March 31, 2023 and March 31,2022.
67) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.
68) During the year, the Company has utilised the borrowings for the specific purposes for which they were taken.
69) The Company has not revalued its Property, Plant and Equipment, Intangible and Right of Use asset during the year.
70) Comparative corresponding figures for the previous year have been re-grouped and/or re-arranged wherever considered necessary.
71) The financial statements were approved for issue by the Board of Directors on May 30, 2023.
The accompanying notes are an integral part of the financial statements
As per our attached report of even date For and on behalf of the Board of Directors of
For Radheshyam Sharma & Co. Shree Krishna Paper Mills & Industries Limited
Firm Registration No. 016172N
Chartered Accountants Sanjiv Kumar Agarwal Narendra Kumar Pasari
Chief Financial Officer Managing Director
DIN : 00101426
CA Radheshyam Sharma
Proprietor
Membership No. 097127 Ritika Priyam Dev Kishan Chanda
Company Secretary Director
Membership No. A53502 DIN : 00407123
Place: New Delhi Place: New Delhi
Date : May 30 2023 Date: May 30 2023
Mar 31, 2018
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2018
There were no transfers between level 1 and level 2 for recurring fair value measurements during the year.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole;
Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. 58) FINANCIAL RISK MANAGEMENT
The Company''s principal financial liabilities, other than derivatives, comprise borrowings, trade and other payables. The Company''s principal financial assets include loans, trade and other receivables and cash and cash equivalents that derive directly from its operations. The Company also holds FVTOCI investments and enters into derivative transactions.
The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management monitors these risks and provides assurance that the financial risk activities are governed by appropriate policies and procedures. The financial risks are identified, measured and managed in accordance with the company''s policies and risk objectives. All derivative activities for risk management purposes are carried out by teams that have the appropriate skills, experience and supervision. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.
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 the Company''s receivables from customers, loans and investments. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of counterparty to which the Company grants credit terms in the normal course of business.
Trade receivables
The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets. The credit worthiness are monitored at periodical intervals. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.
The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into account external and internal risk factors and historical data of credit losses from various customers.
|
(Rs in Lakhs) |
|||
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Financial assets for which loss allowances is measured using the expected credit loss |
|||
|
Trade receivables |
|||
|
less than 180 days |
5.75 |
5.17 |
4.62 |
|
180 -365 days |
0.24 |
2.28 |
0.99 |
|
1 year to 2 years |
1.61 |
1.75 |
3.68 |
|
2 years to 3 years |
1.76 |
5.08 |
2.43 |
|
above 3 years |
6.44 |
1.44 |
- |
|
Total |
15.80 |
15.72 |
11.72 |
|
(Rs. in Lakhs) |
|||
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Movement in the expected credit loss allowance on trade receivables |
|||
|
Balance at the beginning of the year |
15.72 |
11.72 |
- |
|
Addition |
21.41 |
16.96 |
11.72 |
|
Write - offs |
- |
- |
- |
|
Recoveries |
21.33 |
12.96 |
- |
|
Balance at the end of the year |
15.80 |
15.72 |
11.72 |
Liquidity risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they become due. The Company manages liquidity risk by continuously monitoring forecast and actual cash flows on daily, monthly and yearly basis. The Company ensures that there is a free credit limit available at the start of the year which is sufficient for repayments getting due in the ensuing year. Loan arrangements, credit limits with various banks including working capital and monitoring of operational and working capital issues are always kept in mind for better liquidity management
The Company has unutilised working capital limits from banks of Rs. 752.21 lakhs as on March 31, 2018; Rs. 670.44 lakhs as on March 31, 2017 and Rs 938.55 lakhs as on April 01, 2016.
The table below provides details regarding the contractual maturities of significant financial liabilities :
|
As at March 31, 2018 |
(Rs in Lakhs) |
|||
|
Particulars |
Less than 1 year |
1 -5 years |
More than 5 years |
Total |
|
Non derivative |
||||
|
Borrowings |
1,812.43 |
- |
263.34 |
2,075.77 |
|
Trade payables |
2,330.28 |
33.89 |
- |
2,364.17 |
|
Other financial liabilities |
503.93 |
38.93 |
68.70 |
611.56 |
|
Derivative |
||||
|
Forward exchange contracts |
- |
- |
- |
- |
|
As at March 31, 2017 |
(Rs in Lakhs) |
|||
|
Particulars |
Less than 1 year |
1 -5 years |
More than 5 years |
Total |
|
Non derivative |
||||
|
Borrowings |
1,839.63 |
22.07 |
237.80 |
2,099.50 |
|
Trade payables |
1,785.13 |
29.72 |
- |
1,814.85 |
|
Other financial liabilities |
409.42 |
34.13 |
65.26 |
508.81 |
|
Derivative |
||||
|
Forward exchange contracts |
4.26 |
- |
- |
4.26 |
|
As at April 01, 2016 |
(Rs in Lakhs) |
|||
|
Particulars |
Less than 1 year |
1 -5 years |
More than 5 years |
Total |
|
Non derivative |
||||
|
Borrowings |
4,311.40 |
27.04 |
215.13 |
4,553.57 |
|
Trade payables |
1,697.63 |
50.28 |
- |
1,747.91 |
|
Other financial liabilities |
470.50 |
29.93 |
81.00 |
581.43 |
|
Derivative |
||||
|
Forward exchange contracts |
2.24 |
- |
- |
2.24 |
Market Risk- Foreign currency risk
This is the risk that the Company may suffer losses as a result of adverse exchange rate movement during the relevant period. As a policy, the Company is covering foreign exchange risk on account of import to avoid any loss situation due to adverse fluctuations in currency rates. There is periodical review of foreign exchange transactions and hedging by the
Company''s executives.
Derivative instruments and unhedged foreign currency exposure:
(a) Derivative outstanding as at the reporting date
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Trade payable on account of purchase of goods |
|||
|
Forward contracts to buy USD ($ in lakhs) |
2.80 |
1.02 |
2.41 |
|
Amount outstanding in Indian Rupee (Rs in lakhs) |
183.11 |
70.27 |
163.31 |
Derivative financial instruments such as foreign exchange forward contracts are used for hedging purposes and not as trading or speculative instruments.
(b) Particulars of unhedged foreign currency exposures as at the reporting date
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Trade payable on account of purchase of goods |
|||
|
Amount outstanding in USD ($ in lakhs) |
2.01 |
0.70 |
0.23 |
|
Amount outstanding in Euro (⬠in lakhs) |
0.13 |
- |
- |
|
Amount outstanding in Indian Rupee (Rs in lakhs) |
141.45 |
45.57 |
15.05 |
Market Risk- Price Risk Exposure
Equity Price Risk is related to the change in market reference price of the investments in equity securities. The Company is exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments. Profit for the year would increase/ (decrease) as a result of gains/ losses on equity securities as at fair value through profit or loss.
Sensitivity
The table below summarizes the impact of increases/decreases of the BSE index on the Company''s equity and Gain/Loss for the period. The analysis is based on the assumption that the index has increased by 5 % or decreased by 5 % with all other variables held constant, and that all the Company''s equity instruments moved in line with the index
Impact on Profit before tax
|
(Rs in Lakhs) |
|||
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
BSE Sensex 30- Increase 5% |
0.00 |
0.00 |
0.00 |
|
BSE Sensex 30- Decrease 5% |
-0.00 |
-0.00 |
-0.00 |
Above referred sensitivity pertains to quoted equity investment. Profit for the year would increase/ (decrease) as a result of gains/ losses on equity securities as at fair value through profit or loss. Since the Company has nominal investments in quoted equity and hence, sensitivity analysis is reflecting zero value.
Foreign Currency Risk Sensitivity
A change of 5% in Foreign currency would have following Impact on profit before tax
|
(Rs in Lakhs) |
|||
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at ApriI 01, 2016 |
|
USD and Euro |
|||
|
5% Increase |
(16.23) |
(5.79) |
(8.92) |
|
5% Decrease |
16.23 |
5.79 |
8.92 |
Interest rate risk
The Company has loan facilities on floating interest rate, which exposes the Company to risk of changes in interest rates. The management monitors the interest rate movement and manages the interest rate risk by evaluating interest rate swaps etc. based on the market/ risk perception.
For the years ended March 31, 2018 and March 31, 2017, every 50 basis point decrease in the floating interest rate component applicable to its loans and borrowings would increase the Company''s profit before tax by approximately Rs 8.92 Lakhs and Rs 8.60 Lakhs respectively. A 50 basis point increase in floating interest rate would have led to an equal but opposite effect.
Commodity rate risk
Exposure to market risk with respect to commodity prices primarily arises from the Company''s purchases and sales of News Prints including the raw material components for such active News Prints. These are commodity products, whose prices may fluctuate significantly over short periods of time. The prices of the Company''s some of the raw materials generally fluctuate in line with commodity cycles, although the prices of raw materials used in the Company''s business are generally more volatile. Commodity price risk exposure is evaluated and managed through operating procedures and sourcing policies. As of March 31, 2018, the Company had not entered into any material derivative contracts to hedge exposure to fluctuations in commodity prices.
59) RELATED PARTY DISCLOSURES
As per Ind AS 24, all related parties have been identified by the management and relied upon by the auditors. There are no related parties where control exists. i) Key Management Personnel:
Mr. N.K. Pasari ii) Relative of Key Management Personnel:
Mr. B.N. Pasari
Mr. Naynesh Pasari iii) Enterprise where Key Management Personnel/Relative of Key Managerial Personnel has significant influence:
|
Laxmi Traders Gopala Sales Pvt. Ltd. Bishwanath Traders & Investments Ltd. SKCS Finvest Pvt. Ltd. |
Amer Hotels Ltd. Bishwanath Industries Ltd. Govinda Power & Products Pvt. Ltd. Inficore Visions Pvt. Ltd. |
iv) Details of transactions with the related parties:
|
Nature of transactions |
2017-2018 |
2016-2017 |
||||
|
Referred in (i) above |
Referred in (ii) above |
Referred in (iii) above |
Referred in (i) above |
Referred in (ii) above |
Referred in (iii) above |
|
|
Expenses : |
||||||
|
Employee benefit expense* |
||||||
|
(short term employee benefits) |
||||||
|
Mr. N.K. Pasari |
15.73 |
- |
- |
9.59 |
- |
- |
|
Consultancy paid |
||||||
|
Mr. Naynesh Pasari |
- |
5.40 |
- |
- |
2.40 |
- |
|
Finance costs |
||||||
|
Gopala Sales Pvt. Ltd. |
- |
- |
2.59 |
- |
- |
2.33 |
|
Bishwanath Industries Ltd. |
- |
- |
23.07 |
- |
- |
20.68 |
|
Bishwanath Traders & Investments Ltd. |
- |
- |
2.28 |
- |
- |
2.05 |
|
Raw material purchase |
||||||
|
Govinda Power & Products Pvt. Ltd. |
- |
- |
7.91 |
- |
- |
6.98 |
|
Packing material purchase |
||||||
|
Gopala Sales Pvt. Ltd. |
- |
- |
106.09 |
- |
- |
71.42 |
|
Govinda Power & Products Pvt. Ltd. |
- |
- |
30.49 |
- |
- |
32.56 |
|
Income : |
||||||
|
Other operating revenues |
||||||
|
Gopala Sales Pvt. Ltd. |
- |
- |
5.81 |
- |
- |
4.64 |
|
Govinda Power & Products Pvt. Ltd. |
- |
- |
7.50 |
- |
- |
9.98 |
|
(Rs in Lakhs) |
||||||
|
Nature of transactions |
2017-2018 |
2016-2017 |
||||
|
Referred in (i) above |
Referred in (ii) above |
Referred in (iii) above |
Referred in (i) above |
Referred in (ii) above |
Referred in (iii) above |
|
|
Gopala Sales Pvt. Ltd. |
. |
. |
0.72 |
_ |
_ |
0.72 |
|
Govinda Power & Products Pvt. Ltd. |
- |
- |
0.66 |
- |
- |
0.66 |
|
SKCS Finvest Pvt. Ltd. |
- |
- |
0.06 |
- |
- |
0.06 |
|
Inficore Visions Pvt. Ltd. |
- |
- |
0.07 |
- |
- |
- |
*it does not include provision for gratuity and leave encashment as the same is not determinable since the actuarial valuation is done for the Company as a whole.
v) Closing balances receivables/payables
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Referred in (i) above |
|||
|
Current financial liabilities-Others |
|||
|
Mr. N.K. Pasari |
1.61 |
1.27 |
0.79 |
|
Referred in (ii) above |
|||
|
Current financial liabilities-Trade payables |
|||
|
Mr. Naynesh Pasari |
0.45 |
0.45 |
0.09 |
|
Referred in (iii) above |
|||
|
Current financial assets-Trade receivables |
|||
|
SKCS Finvest Pvt. Ltd. |
0.07 |
- |
- |
|
Inficore Visions Pvt. Ltd. |
0.08 |
- |
- |
|
Current financial assets-Others |
|||
|
Gopala Sales Pvt. Ltd. |
- |
0.72 |
0.72 |
|
Govinda Power & Products Pvt. Ltd. |
- |
0.66 |
0.66 |
|
SKCS Finvest Pvt. Ltd. |
- |
0.06 |
0.06 |
|
Other current assets |
|||
|
Gopala Sales Pvt. Ltd. |
8.73 |
16.48 |
7.56 |
|
Govinda Power & Products Pvt. Ltd. |
0.07 |
- |
- |
|
Non-current financial liabilities-Borrowings* |
|||
|
Bishwanath Traders & Investments Ltd. |
22.98 |
20.70 |
18.65 |
|
Bishwanath Industries Ltd. |
223.89 |
200.82 |
180.13 |
|
Gopala Sales Pvt. Ltd. |
16.47 |
16.28 |
16.35 |
|
Current financial liabilities-Others |
|||
|
Gopala Sales Pvt. Ltd. |
2.16 |
2.16 |
0.24 |
|
Current financial liabilities-Trade payables |
|||
|
Laxmi Traders |
1.08 |
1.08 |
1.08 |
|
Amer Hotels Ltd. |
0.15 |
0.15 |
0.15 |
|
Govinda Power & Products Pvt. Ltd. |
3.98 |
5.56 |
3.32 |
|
Current financial liabilities-Others |
|||
|
Amer Hotels Ltd. |
0.15 |
0.15 |
0.15 |
|
Other current liabilities |
|||
|
Bishwanath Traders & Investments Ltd. |
1.63 |
1.63 |
1.63 |
*These figures are at amortised cost as per Ind AS 109, the original values are given below:
|
Particulars |
As at March 31, 2018 |
As at March 31, 2017 |
As at April 01, 2016 |
|
Bishwanath Traders & Investments Ltd. |
50.00 |
50.00 |
50.00 |
|
Bishwanath Industries Ltd. |
508.64 |
508.64 |
508.64 |
|
Gopala Sales Pvt. Ltd. |
20.00 |
20.00 |
20.00 |
60) Comparative corresponding figures for the previous year have been regrouped and/or re-arranged wherever considered necessary.
Mar 31, 2016
(b) Rights, preferences and restrictions attached to shares:
Equity shares
The Company has one class of equity shares referred to as equity shares having at par value of '' 10/- each. Each shareholder is entitled to one vote per share. In the event of liquidation, the equity-holders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Preference shares
The Company has one class of preference shares referred to as preference shares redeemable at par value of '' 100/each. These shares carry a fixed cumulative dividend of 4% per annum and a preferential right in respect of dividend and capital over equity shareholders. The preference shares are redeemable at par on or before March 31, 2017. In view of arrears of dividend, preference shareholders are entitled to vote on every resolution placed before the Company.
Details of security and terms of repayment:
(a) Current maturities of long term borrowings are taken under current liabilities (refer note no. 9)
(b) Term loans from banks, under consortium arrangement having Bank of India as lead bank, are secured by first pari -passu charge on all movable and immovable property (other than current assets) of Kotputli unit both present and future, second charge on the current assets of the Company, collaterally secured by first pari-passu charge on the block assets of Bahadurgarh unit and by personal guarantee of two Directors of the Company.
(c) Term loans from banks are also collaterally secured by pledge of 48,20,400 equity shares (previous year 48,20,400) held by the promoter and promoter group.
(d) The term loan installments due on March 31, 2016 were not paid on its due date as the Company has submitted restructuring proposal to the banks, approval whereof is awaited. However, the same has been paid since the close of the financial year.
(e) Term loans from banks are repayable in half yearly installments. Loan wise maturity amount of previous year to be paid in 2016-17 is as under:-
(g) Unsecured loans are repayable on March 31, 2027. However, the Company has the option to pay before maturity by giving prior notice of 30 days.
(h) The above loans carry varying rates of interest with the maximum rate of interest going upto 12.45% (previous year 12.45%).
Details of Security:
(a) Cash credit facilities from banks under consortium arrangement having Bank of India as lead bank, are secured by first pari - passu charge on hypothecation of inventories and receivables and all other current assets of the Company, collaterally secured by second pari - passu charge on the entire movable and immovable assets of the Company both present and future and personal guarantee of two Directors of the Company.
(b) Cash credit facilities are also collaterally secured by pledge of 48,20,400 equity shares (previous year 48,20,400) held by promoter and promoter group.
(c) Maximum rate of interest was 11.45% per annum (previous year 11.45% per annum).
1) Disclosure under regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable since the Company does not have any subsidiary/associates.
2) DISCLOSURE OF HEDGED/UNHEDGED FOREIGN CURRENCY EXPOSURE
The Company uses forward exchange contracts to hedge its foreign exchange exposure. The Company does not use foreign exchange forward contracts for trading or speculation purposes.
3) The accumulated losses had fully eroded the net worth of the Company as on March 31,2013. Since 2013-14, the performance of the Company has been improved and it has resulted into earning of profit but the accumulated losses were still higher. As on March 31, 2016, the net worth of the Company has become positive. The Company is in continuous process of implementing various measures such as increasing the production, optimizing resources utilization, improving operational efficiencies and other cost control measures to improve the Company''s operating results and cash flows. With the improvement in business conditions, the Company expects to perform better in the future. The Company believes that these measures will result in substantial cash flows. Accordingly, Company''s financial statements have been prepared on a going concern basis. In the opinion of the Board, going concern assumption is appropriate for preparation and presentation of financial statements.
4) The reference filed by the Company with Board for Industrial & Financial Reconstruction based on negative net worth had already been registered by the Board. Now, as on March 31, 2016, the net worth of the Company has become positive and accordingly, necessary reference will be made to the Board.
5) Corporate Debt Restructuring (CDR) package was sanctioned to the Company vide LOA dated August 17, 2009. The package was successfully implemented by all the bankers w.e.f. the cutoff date i.e. April 01, 2009 as per terms and conditions set out in the Letter of Approval(LOA). The CDR lenders have a right to recompense of their waivers & sacrifices made as part of the CDR proposal. The recompense payable by the Company is contingent on various factors, outcome of which currently is materially uncertain and hence the proportionate amount payable as recompense has been treated as contingent liability.
6) During the previous year 2014-2015, the Company had revised the useful life of fixed assets as prescribed in Schedule II to the Companies Act, 2013. Accordingly an amount of '' 28.83 lacs (net of deferred tax) on account of assets whose useful life was already exhausted on April 01, 2014 was adjusted with Reserves and Surplus and the depreciation for that year was lower by '' 180.39 lacs.
7) (a) In the opinion of the management, current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and provisions for all known/ expected liabilities have been made.
(b) The debit / credit balances of trade payables, trade receivables and short / long term loans and advances are subject to reconciliation /confirmation, although letter for confirmations have been sent. The management does not expect any material differences affecting the current year''s financial statements due to the same.
8) Net increase/decrease in excise duty liability on closing stock of finished goods as at year end has been shown as "Excise duty on stock (net)" in note no. 28 of Notes to the financial statements
9) In view of brought forward losses available under the Income Tax Act, 1961, no liability towards income tax and MAT u/s 115 JB is contemplated and hence, no ovision has been made in the books of accounts.
10) The Company''s current business activity has only one primary reportable segment i.e. paper. Hence, "Segment Reporting", under AS-17 is not applicable.
11) RELATED PARTY DISCLOSURES
As per Accounting Standard 18, all related parties have been identified by the management and relied upon by the auditors. There are no related parties where control exists.
i) Key Management Personnel:
Mr. N.K. Pasari
ii) Relative of Key Management Personnel:
Mr. B.N. Pasari
Mr. Naynesh Pasari
iii) Enterprise where Key Management Personnel/Relative of Key Managerial Personnel has significant influence:
Laxmi Traders Amer Hotels Ltd.
Gopala sales Pvt. Ltd. Bishwanath Industries Ltd.
Bishwanath Traders & Investments Ltd. Govinda Power & Products Pvt. Ltd.
SKCS Finvest Pvt. Ltd.
Mar 31, 2015
1. Rights, preferences and restrictions attached to Shares:
Equity Shares
The Company has one class of Equity Shares referred to as Equity Shares
having at par value of Rs. 10/- each. Each Shareholder is entitled to
one vote per share. In the event of liquidation, the equity-holders are
eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, in proportion to their
shareholding.
Preference Shares
The Company has one class of Preference Share referred to as Preference
Shares redeemable at par value of Rs. 100 each. These shares carry a
fixed cummulative dividend of 4% per annum and a preferential right in
respect of dividend and capital over Equity Shareholders. The
Preference Shares are redeemable at par on or before March 31, 2017. In
view of arrear of dividend, preference shareholders are entitled to
vote on every resolution placed before the Company.
2. Details of Security and Terms of Repayment:
(a) Current maturities of long term borrowings are taken under current
liabilities (Refer note no. 9)
(b) Term Loans from Banks, under consortium arrangement having Bank of
India as Lead Bank, are secured by first pari - passu charge on all
movable and immovable property (other than current assets) of Kotputli
unit both present and future, second charge on the current assets of
the Company, collaterally secured by first pari-passu charges on the
block assets of Bahadurgarh Unit and by personal guarantee of two
Directors of the Company.
(c) Term Loans from banks are also collaterally secured by pledge of
48,20,400 (Previous Year 48,20,400) Equity Shares held by the Promoter
and promoter group.
(e) Unsecured Loans are repayable on March 31,2017. However, the
Company has the option to pay before maturity by giving prior notice of
30 days.
(f) The above loans carry varying rates of interest with the maximum
rate of interest going upto 12.45% (Previous Year 12.50%).
3. Details of Security:
(a) Cash Credit facilities from Banks under consortium arrangement
having Bank of India as Lead Bank, are secured by first pari - passu
charge on hypothecation of Inventories and receivables and all other
current assets of the Company, collaterally secured by second pari -
passu charge on the entire movable and immovable assets of the Company
both present and future and personal guarantee of two Directors of the
Company.
(b) Cash Credit facilities are also collaterally secured by pledge of
48,20,400 (Previous Year 48,20,400) Equity Shares held by Promoter and
promoter group.
(c) Maximum rate of interest was 11.45% per annum (Previous year 11.50%
per annum).
4. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided
for)
(Rs. in lacs)
Particulars 2014-2015 2013-2014
(I) Contingent Liabilities
(a) Claims against the Company not
acknowledged as debt;
(i) Central Excise duty and Service
Tax matters 4,065.50 4,002.91
(ii) Custom Duty matters 228.14 228.14
(iii) Water Cess 6.70 6.70
(iv) Sales Tax matters 259.98 248.13
* The contingent liabilities comprise
mainly amount related to show cause
notices issued by the Excise Department
in respect of coating of uncoated
paper amounting to 'manufacture' and
applicability of duty thereon. The
issue has been finally decided by the
Hon'ble Supreme Court in case of
Pitamber Coated Paper that the coating
of uncoated paper does not amounts
to manufacture. Accordingly, the Company
has made request to the Commisioner to
drop the show cause notices.
* The other contingent liabilities have
been disputed by the Company
before respective authorities on account
of classification, rates and
applicability.
* Based on the legal advices, the Company
is reasonably certain that the
outcome of these proceedings shall not
have a material impact on its
financial statements.
(b) Other money for which the Company
is contingently liable;
(i) Right of Recompense under CDR package 769.34 660.26
(ii) Arrears of Dividend on 4% Cummulative
Redeemable Preference Share 127.49 100.91
(including dividend distribution tax)
(II) Commitments
(i) Estimated amount of contracts remaining
to be executed on capital account 32.45 16.87
and not provided for
5. Disclosure under clause 32 of Listing Agreement is not applicable
since the Company does not have any subsidiary/ associates.
6. The accumulated losses of the Company had fully eroded the net
worth of the Company as on March 31,2013. During the financial year
2013-14 and 2014-15, the performance of the Company has improved and
the Company has earned profit but still the accumulated losses are
higher than the net worth of Company. The Company is in continuing
process of implementing various measures such as increasing the
production, optimising resources utilisation, improving operational
efficiencies and other cost control measures to improve the Company's
operating results and cash flows. With the improvement in business
conditions, the Company expects to perform better in the future. The
Company believes that these measures will result in substantial cash
flows. Accordingly, Company's financial statements have been prepared
on a going concern basis. In the opinion of the Board, going concern
assumption is appropriate for preparation and presentation of financial
statements.
7. The reference filed by the Company with Board for Industrial &
Financial Reconstruction based on negative net worth as on March 31,
2014 has been registered by the Board. The accumulated losses are still
higher than the net worth of the Company as on March 31,2015.
8. Corporate Debt Restructuring (CDR) Package was sanctioned to the
Company vide LOA dated August 17, 2009. The package was successfully
implemented by all the Bankers w.e.f. the cut off date i.e. April 01,
2009 as per terms and conditions set out in the Letter of Approval
(LOA). The CDR lenders have a right to recompense of their waivers &
sacrifices made as part of the CDR proposal. The recompense payable by
the Company is contingent on various factors, outcome of which
currently is materially uncertain and hence the proportionate amount
payable as recompense has been treated as contingent liability.
9. During the year, the Company has revised the useful life of fixed
assets as prescribed in Schedule II to the Companies Act, 2013.
Accordingly, depreciation of the year is lower is by Rs. 180.39 lacs.
Further, an amount of Rs. 28.83 lacs (net of deferred tax) on account
of assets whose useful life is already exhausted on April 01, 2014 has
been adjusted with Reserves & Surplus.
10. Based on the information available with the management regarding
status of suppliers under Micro, Small & Medium enterprises development
Act, 2006, there is no due to the supplier as on 31st March, 2015.
Further, there is no interest paid/ payable to the suppliers.
11. The debit / credit balances of Trade Payables, Trade Receivables
and Short / Long Term Loans & Advances are subject to reconciliation
/confirmation, although confirmations have been sent after the close of
the year. In the opinion of the management, there shall be no material
impact on the financial statements of any adjustments, if any, arising
on such confirmation /reconciliation.
12. Net increase/decrease in excise duty liability on closing stock of
finished goods as at year end has been shown as "Excise Duty on Stock
(Net)" in note no. 27 of Notes to the financial statements
13. In the opinion of the management, no liability towards Income Tax
is contemplated and hence no provision has been made in the books of
account for Income Tax.
14. The Company's current business activity has only one primary
reportable segment i.e. paper. Hence, "Segment Reporting", under AS-17
is not applicable.
15. RELATED PARTY DISCLOSURES
As per Accounting Standard 18, all related parties have been identified
by the management and relied upon by the auditors. There are no related
parties where control exists.
i) Key Management Personnel:
Mr. N.K. Pasari
ii) Relative of Key Management Personnel Mr. Naynesh Pasari
iii) Enterprise where Key Management Personnel/Relative of Key
Managerial Personnel has significant influence:
Laxmi Traders Amer Hotels Ltd.
Gopala sales Pvt. Ltd. Bishwanath Industries Ltd.
Bishwanath Traders & Investments Ltd. Govinda Power & Products
Pvt. Ltd.
SKCS Finvest Pvt. Ltd.
16. Comparative corresponding figures for the previous year have been
regrouped and/or re-arranged wherever considered necessary.
Mar 31, 2014
1) The accumulated losses of the Company had fully eroded the net
worth of the Company as on March 31, 2013. During the financial year
2013-14, the performance of the Company has improved a lot and the
Company has earned profit but still the accumulated losses are higher
than the net worth of Company. The Company is in continuing process of
implementing various measures such as increasing the production,
optimising resources utilisation, improving operational efficiencies
and other cost control measures to improve the Company''s operating
results and cash flows. With the improvement in business conditions,
the Company expects to perform better in the future. The Company
believes that these measures will result in substantial cash flows.
Accordingly, Company''s financial statements have been prepared on a
going concern basis. In the opinion of the Board, going concern
assumption is appropriate for preparation and presentation of financial
statements.
2) The reference filed by the Company with Board for Industrial &
Financial Reconstruction based on negative net worth as on March 31,
2013 has been rejected by the Board keeping in view of the profits
during the year and expectation of positive net worth at the earliest.
Further as on March 31, 2014, the accumulated losses are still higher
than the net worth of the Company and hence, necessary reference will
be made again to the Board for Industrial & Financial Reconstruction
within the prescribed time.
3) Corporate Debt Restructuring (CDR) Package was sanctioned to the
Company vide LOA dated August 17, 2009. The package was successfully
implemented by all the Bankers w.e.f. the cut off date i.e. April 1,
2009 as per terms and conditions set out in the Letter of
Approval(LOA). The CDR lenders have a right to recompense of their
waivers & sacrifices made as part of the CDR proposal. The recompense
payable by the Company is contingent on various factors, outcome of
which currently is materially uncertain and hence the proportionate
amount payable as recompense has been treated as contingent liability.
4) Based on the information available with the management regarding
status of suppliers under Micro, Small & Medium enterprises development
Act, 2006, there is no due to the supplier as on March 31, 2014.
Further, there is no interest paid/ payable to the suppliers.
5) The debit / credit balances of Trade Payables, Trade Receivables
and Short / Long Term Loans & Advances are subject to reconciliation
/confirmation, although confirmations have been sent after the close of
the year. In the opinion of the management, there shall be no material
impact on the financial statements of any adjustments, if any, arising
on such confirmation /reconciliation.
6) Excise duty has been deducted from gross sales/revenue from
operations on the face of the statement of Profit & Loss and represents
amount recovered from the customers. Net increase/decrease in excise
duty liability on closing stock of finished goods as at year end has
been shown under the head "Excise Duty on Stock (Net)" in note no. 27
of Notes to the financial statements.
7) In the opinion of the management, no liability towards Income Tax
is contemplated and hence no provision has been made in the books of
account for Income Tax.
8) The Company''s current business activity has only one primary
reportable segment viz. Paper. Hence, "Segment Reporting", under AS-17
is not applicable. The Secondary segment is also not relevant as there
is no exports sale during this year.
9) RELATED PARTY DISCLOSURES
As per Accounting Standard 18, all related parties have been identified
by the management and relied upon by the auditors. There are no related
parties where control exists.
i) Key Management Personnel:
Mr. N. K. Pasari- Managing Director
ii) Enterprise where Key Management Personnel/Relative of Key
Managerial Personnel has significant influence: Laxmi Traders Amer
Hotels Ltd.
Gopala sales Pvt. Ltd. Bishwanath Industries Ltd.
Bishwanath Traders &
Investments Ltd. Govinda Power & Products Pvt.
Ltd.
iii) Details of transactions with the related parties.
10) Comparative corresponding figures for the previous year have been
regrouped and/or re-arranged wherever considered necessary.
Mar 31, 2013
1.1) The accumulated losses of the Company have fully eroded the net
worth of the Company.However, the Company has been actively
implemanting various measures such as increasing the production,
optimising resources utilisation, improving operational efficiencies
and other cost control measures to improve the Company''s operating
results and cash flows. With the improvement in business conditions,
the Company expects to perform better in the future. The Company
believes that these measures will result in substantial cash flows.
Accordingly, Company''s financial statements have been prepared on a
going concern basis. In the opinion of the Board, going concern
assumption is appropriate for preparation and presentation of financial
statements.
1.2) Based on the information available with the management regarding
status of suppliers under Micro, Small & Medium enterprises development
Act, 2006, there is no due to the supplier as on 31st March, 2013.
Further, there is no interest paid/ payable to the suppliers.
1.3) The debit / credit balances of Trade Payables, Trade Receivables
and Short / Long Term Loans & Advances are subject to reconciliation
/confirmation, although confirmations have been sent after the close of
the year. In the opinion of the management, there shall be no material
impact on the financial statements of any adjustments, if any, arising
on such confirmation /reconciliation.
1.4) The Company''s current business activity has only one primary
reportable segment viz. Paper. Hence, "Segment Reporting", under AS-17
is not applicable. The Secondary segment is also not relevant as
exports sale is insignificant.
1.5) RELATED PARTY DISCLOSURES
As per Accounting Standard 18, all related parties have been identified
by the management and relied upon by the auditors. There are no related
parties where control exists.
i) Key Management Personnel:
Mr. N.K. Pasari- Managing Director
ii) Enterprise where Key Management Personnel/Relative of Key
Managerial Personnel has significant influence:
Laxmi Traders Amer Hotels Ltd.
Gopala sales Pvt. Ltd. Bishwanath Industries Ltd.
Bishwanath Traders & Investments Ltd. Govinda Power & Products Pvt.
Ltd.
Mar 31, 2012
1.1) Hitherto leasehold land was shown at cost and no amortisation in
respect of premium paid was done in the statement of Profit &Loss .
However, from the current financial year, the Company has amortised
premium paid w.e.f. the date of acquisition. Total depreciation
includes lease amortisation amounting to Rs. 1.77 lacs for current year
and Rs. 15.78 lacs for period upto 31.03.2011.
1.2) CONTINGENT LIABILITIES NOT PROVIDED FOR: (Rs. in lacs)
Particulars 2011-2012 2010-2011
a) (i) Central Excise duty and Service
Tax matters 3,705.95 3703.22
(ii) Custom Duty matters 249.97 228.14
(iii) Water Cess 4.92 3.99
(iv) Sales Tax matters 213.83 184.65
b) Arrear of Dividend on 4% Cumulative
Redeemable Preference Share 53.80 30.55
(including dividend distribution tax)
c) Capital Commitments 36.38 4.22
1.3) The Company has not received any memorandum (as required to be
filed by the suppliers with the notified authority under Micro, Small &
Medium enterprises development Act, 2006) claiming their status as
micro, small or medium enterprises. Consequently, the amount including
interest, if any, paid/payable to the parties during the year is Nil.
1.4) The Company had created deferred tax assets upto March 31, 2011
and was virtual certain based on business model, future business plans
and profitability projections. However, during the current year, the
Company has considered deferred tax assets only to the extent of
deferred tax liability arises on tax impact of differential
depreciation.
1.5) The debit / credit balances of Trade Payables, Trade Receivables
and Short / Long Term Loans & Advances are subject to reconciliation
/confirmation, although confirmations have been sent after the close of
the year. In the opinion of the management, there shall be no material
impact on the financial statements of any adjustments, if any, arising
on such confirmation /reconciliation.
1.6) The Company's current business activity has only one primary
reportable segment viz. paper. Hence, "Segment Reporting", under AS-17
is not applicable. The Secondary segment is also not relevant as
exports sale is insignificant.
1.7) RELATED PARTY DISCLOSURES UNDER ACCOUNTING STANDARD (AS) 18:
All related parties have been identified by the Management and relied
upon by the auditors. There are no related parties where control
exists.
i) Key Management Personnel:
Mr. N.K. Pasari- Managing Director
ii) Enterprise where Key Management Personnel/Relative of Key
Managerial Personnel has significant influence: Laxmi Traders Gopala
sales Pvt. Ltd. Amer Hotels Ltd.
Bishwanath Traders & Investments Ltd. Bishwanath Industries Ltd.
iii) Details of transactions with the related parties.
1.8) During the year ended March 31, 2012, the revised Schedule-VI
notified under the Companies Act,1956 has become applicable to the
Company for preparation and presentation of its Financial Statements.
Accordingly, the Company has reclassified, regrouped and rearranged the
previous year figures to make them comparable with current year's
figures.
Mar 31, 2010
I. Contingent Liabilities not provided for:
(a) Guarantees given by the banks on behalf of the Company Rs. 10,677
thousands (Rs. 10,196thousands).
(b) letter of Credit issued by the banks on behalf of the Company Rs,
4,392 thousands (Rs, 28,724 thousands).
(c.) Claims not acknowledged as debts by the Company to the extent
ascertainable Rs. 1,958 thousands (Rs. 1,958 thousands).
(d) Arrears of 4% Cumulative Redeemable Preference Shares dividend
(including dividend distribution tax) of Rs, 731 thousands (Rs. NIL),
(e) Estimated amount of contracts remaining to be executed on capita)
commitment (net of advance} Rs,15,665 thousands (Rs.25,754 thousands),
(f) The Company is in receipl of show cause notices for Rs,4,06,861
thousands (Rs. thousands) from the Central Excise & Custom, DGFX
Service Tax department and other authorises. Replies to show cause
notices have been submitted and adjudication is. pending with the
department.
(g) The Company has deposited Rs. 25,000 thousands in the year
2005-2006 under protest with the Custom 1 Department, Jaipur,
(Rajasthan) and the matter Is sub-judice. 2. The Company has
accounted for deferred tax assets of Rs. 44,057 thousands (Rs, 26,098
thousands) and is confident that subsequent realisation of the deferred
tax assets created is virtually certain in the mar future based on
existing business model, future business plans of the Company and its
profitability projections.
Further break-op of deferred tax assets (liabilities) is as under:-
2. The Company has not received any memorandum as required to be tiled
by the suppliers with the notified authority under Micro, Small &
Medium enterprises development Act, 2006) claiming their status as.
micro, small or medium enterprises. Consequent!}, the amount
paid/payable to the parties during the year is nil.
3. During the year, the Company has been sanctioned a Restructuring
Package by Corporate Debl Restruduring Cell vide LOA No. CDR(ABP)
No.605/2009-10 dated 17,08-2009 under the CDR Mechanism, for
restructuring of the existing financial assistance and sanction of
additional finance to the Company. The
COR Package has bee implemented w.e.f. cut off date i.e 1st April 2009
by all the Bankers in the manner and as per terms .and conditions set
out in the Latter of Approval (LOA). The Bankers will have the right to
reverse the waiveers/sacrifices in case of events of default as setout
in LOA. The COR proposal includes reschedulement of existing Term bans,
sanrlion of new term loans, additional working capital finance,
reduction in interest rates, carving out of working tapilal limits and
funding of inreest. As per terms & conditions of CDR packagc,
48,20.400l equity shares held by the Promoters of the Company have been
pledged with the Bankers.
4. The Company has issued 5,00.000 4% Cumtskitive Redeemable
Preference Shares, in cash, of Rs, 100/- each amounting Rs 50,000
thousands during the year to all the Companys Banker as per CDR
Package.
5. The debit/credit balances of Sundry Creditors. Sundry Debtors and
Loans & Advances are subject to recimriliatkm/confimation, although
confimations have been sent after the close of the year In the opinion
of the management, there shall be no material impact on the financial
stalements of any adjustments, if any, arising on such conrinmation
/reconciliation.
6, The Companys current business activity has only one primary
reportable segment viz. paper. Heme "Segment Repotting", under AS -17
is not required. The Secondary segment is also not relevant as exports
sale is insignificant,
7, During the year, modification/renovation of the keshwana unit was
done by the Company which has resulted into into increase in installed
capacity from 30,000 TPA to 36,000 TPA.
8 Information pursuant to the provisions of paragraph 3.4C &4D of
part-II of Schedule VI of the Companies Act, 195. Quantitative other
information regarding:
9, Earning Per Share
The Company reports basic. and diluted earnings per equity share in
accordance with Accounting Standard 20 "Earmings per share". Busk
/Diluted earnings per share computed by dividing net profit lax by the
weighted average number of equity ahares outstanding during the year.
10. Related Party Disclosures under At counting Standard (AS) 18, All
related parties have been identified by the Management and relied upon
by the auditors There are no related parties where control exists.
i)Key Management Personnel;
Mr. N.K. Pasari - Managing Director
ii) Relative of Key Managerial Personnel:
Mr. Naynesh Pasari - Son of Managing Director
11. figures in brackel represens previous year figures, 18.Comparative
comesponding figures for the previous year have been regrouped and or
sharrangged wherever considered necessary
12. All the figures are rounded off to the nearest thousands.
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మరింత సమాచారం Shree Krishna Paper Mills & Industries Ltd.
-
Shree Krishna Paper Mills & Industries Ltd. కంపెనీ వివరాలు
- కంపెనీ ప్రొఫైల్
- కంపెనీ చరిత్ర
- నిర్వహణ బృందం
- క్యాపిటల్ స్ట్రక్చర్
- ప్రొడక్ట్ మిక్స్
- బ్యాంకర్/ఆడిటర్/రిజిస్ట్రార్
-
కంపెనీ చరిత్ర
- బిఎస్ఇ ధర చరిత్ర
-
Shree Krishna Paper Mills & Industries Ltd. ముఖ్య ఆర్థిక నిష్పత్తులు
- నిష్పత్తులు
-
Shree Krishna Paper Mills & Industries Ltd. ఫలితాలు
- క్వార్టర్లీ ఫలితాలు
- హాఫ్ ఇయర్లీ ఫలితాలు
- 9నెలల ఫలితాలు
- వార్షిక ఫలితాలు
-
Shree Krishna Paper Mills & Industries Ltd. ఆర్థిక డేటా
- ఆడిట్ ఫలితాలు
- క్యాష్ ఫ్లో
- బ్యాలెన్స్ షీట్
-
Shree Krishna Paper Mills & Industries Ltd. నివేదికలు
- అకౌంటింగ్ విధానాలు
- ఆడిటర్స్ నివేదిక
- డైరక్టర్స్ నివేదిక
- ఖాతాకు గమనికలు
-
Shree Krishna Paper Mills & Industries Ltd. కార్పొరేట్ ప్రకటనలు
- బుక్ క్లోజర్
- డివిడెండ్
- బోర్డు సమావేశాలు
-
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