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అకౌంట్స్ గమనికలుThe Yamuna Syndicate Ltd.
Mar 31, 2025
(g) 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, it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.
A contingent liability is disclosed, unless the possibility of an outflow of resources embodying economic benefits
has become probable.
A contingent asset is not recognized but disclosed when an inflow of economic benefits is probable. A contingent
asset is a possible asset that arises from past events and whose existence will be confirmed only by occurrence or
non-occurrence of one or more uncertain events not wholly within the control of the entity.
(h) Income tax:
The income tax expense or credit for the period is the tax payable on the current periodâs taxable income based on
the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities
attributable to temporary differences and to unused tax losses.
The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the
end of the reporting period in the country where the Company operate and generate taxable income. Management
evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to
interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax
authorities.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the
tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax assets are recognized for all deductible temporary differences and unused tax losses only will if it is
probable that future taxable amounts will be available to utilize those temporary differences and losses.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is
no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be
utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognized to the extent
that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively
enacted at the reporting date.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other
comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction
either in OCI or directly in equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation
authority.
(i) Revenue recognition:
Revenue is recognised to the extent that it is probable that the economic benefits will flow and the revenue can be
reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the
consideration received or receivable, taking into account contractually defined terms of payment and excluding
taxes or duties collected on behalf of the government. The Company has concluded that it is the principal in all of
its revenue arrangements since it is the primary obligor in all the revenue arrangements as it has pricing latitude
and is also exposed to inventory and credit risks.
However, good & service tax (GST)/ value added tax (VAT) is not received by the group on its own account.
Rather, it is tax collected on value added to the commodity by the seller on behalf of the government.
Accordingly, it is excluded from revenue. The specific recognition criteria described below must also be met
before revenue is recognised.
Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods
have passed to the buyer, usually on delivery of the goods. Revenue from the sale of goods is measured at the fair
value of the consideration received or receivable, net of returns, discounts, allowances and rebates.
Rendering of services
Service revenues are recognised as the services are rendered and are stated at net of discounts and taxes. Revenues
from prepaid- customers are recognized based on actual usage. When the contract outcome cannot be measured
reliably, revenue is recognised only to the extent that the expenses incurred are eligible to be recovered.
Interest income
Interest income is recognised using the bank interest rates which are considered to be effective rate of interest.
The effective rate is the rate that exactly discounts estimated future cash receipts through the expected life of the
financial asset to the gross carrying amount of a financial asset. While calculating the effective interest rate, the
Company estimates the expected cash flows by considering all the contractual terms of the financial instrument
(For example prepayments, extension, call and similar options) but does not consider the expected credit losses.
Dividends
Revenue is recognized when the Companyâs right to receive the payment is established, which is generally when
shareholders approve the dividend.
(j) Borrowing costs:
Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of
funds.
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily
takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the
asset. Investment income earned on the temporary investment of specific borrowings pending their expenditure on
qualifying assets is deducted from the borrowing costs eligible for capitalization.
Other borrowing costs are expensed in the period in which they are incurred.
(k) Employee benefits:
(i) Short-term obligations
Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within
twelve months after the end of the period in which the employees render the related service are recognized in
respect of employeesâ services up to the end of the reporting period and are measured at the amounts expected to
be paid when the liabilities are settled. The liabilities are presented as current benefit obligations in the Balance
sheet.
(ii) Other long term employee benefit obligations
The liabilities for earned leave and sick leave are expected to be settled wholly within twelve months after the end
of the period in which the employee render the related service. They are therefore measured as the present value
of expected future payments to be made in respect of services provided by employees upto the end of the
reporting period using the projected unit method. The benefits are discounted using the market yields at the end of
the reporting period that have terms approximating to the terms of the related obligation. Remeasurements as a
result of experience adjustments and changes in actuarial assumptions are recognized in profit or loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional
right to defer settlement for at least twelve months after the reporting period, regardless of when the actual
settlement is expected to occur.
(iii) Post-employment obligations
The liability or asset recognized in the balance sheet in respect of defined benefit gratuity plans is the present
value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The
defined benefit obligation is calculated annually by actuary using the projected unit credit method, is funded with
Life Insurance Corporation of India.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation
and the fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and
loss.
Re measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
recognized in the period in which they occur, directly in other comprehensive income. They are included in
retained earnings in the statement of changes in equity and in the balance sheet.
Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are
recognized immediately in profit or loss as past service cost.
Defined contributions plan
The Companyâs contributions to provident fund and superannuation fund are accounted for as defined
contribution plans and the contributions are recognized as employee benefit expense when they are due. The
Company has no further payment obligations once the contributions have been paid.
Bonus plans
The Company recognizes a liability and an expense for bonus. The Company recognizes a provision where
contractually obliged or where there is a past practice that has created a constructive obligation.
(l) Earnings per share:
Basic and diluted earnings per share are computed by dividing the profit attributable to the equity shareholders by
the weighted average number of equity shares outstanding during the year.
(m) Financial instruments:
(i) Measurement
An initial recognition, the Company measures a financial asset at its fair value plus, in the case of financial asset
not at fair value through profit and loss, transaction costs that are directly attributable to the acquisition of the
financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in
profit or loss.
Financial assets with embedded derivatives are considered in their entirety when determining whether their cash
flows are solely payment of principal and interest.
For the purpose of subsequent measurement financial assets are classified in three broad categories
*Amortised cost: A debt instrument is subsequently measured at amortized cost if it is held within a business
model whose objective is to hold the asset 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.
*Fair value through other comprehensive income: A financial asset is subsequently measured at fair value
through other comprehensive income if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling 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.
*Fair value through profit or loss: A financial asset which is not classified in any of the above categories are
subsequently fair valued through profit or loss.
Financial liabilities : Financial liabilities are subsequently carried at amortized 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.
(ii) Impairment of financial assets
The Company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets
which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing
component is measured at an amount equal to lifetime ELC.
For all other financial assets, expected credit losses are measured at an amount equal to the 12 months ECL,
unless there has been a significant increase in credit risk from initial recognition in which case those are measured
at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at
the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in
profit or loss.
(iii) Derecognition of financial assets
A financial asset (or, where applicable, a part of a financial asset) is primarily derecognized when:
(a) The contractual right to receive cash flows from the assets have expired, or
(b) The Company has transferred its right to receive cash flow from the financial assets and substantially all the
risks and rewards of ownership of the asset to another party.
(n) Offsetting financial instruments:
Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a
legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or
realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on
future events and must be enforceable in the normal course of business and in the event of default, insolvency or
bankruptcy of the Company or the counterparty.
(o) Trade payables:
The amount represents liabilities for services provided to the Company prior to the end of the period which are
unpaid. The amounts are unsecured non-interest bearings and are usually paid within 30 days of recognition.
Trade payables are presented as current liabilities unless payment is not due within 12 months after the reporting
period. They are recognized at amortised cost, and the carrying amounts are reasonable approximation of fair
value.
(p) Equity instruments:
Investment in associate is accounted for at its acquisition cost.
Transition to IND AS
IND AS 101 allows an entity to continue with the carrying value of investment in associate at cost as at the date
of transition to IND AS, measured as per the previous GAAP and use that as its deemed cost as at the date of
transition.
The Company has elected to apply this exemption for its investment in associate.
(q) Rounding off amounts:
All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as per the
requirement of Schedule III, unless otherwise stated.
Note 3: Accounting estimates, assumptions and judgments:
The preparation of financial statements requires the use of accounting estimates, which by definition, will seldom
equal the actual results, also needs to exercise judgment in applying the Companyâs accounting policies,
estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the
accompanying disclosures, and the disclosure of contingent liabilities, if any. Uncertainty about these assumptions
and estimates could result in outcomes of assets and liabilities affected in future periods.
The area involving critical estimate or judgment is
-Recognition of deferred tax assets for carried forward losses - Note 6
-Impairment of trade receivables - Note 5(b)
- Estimation of tax expense - Note 21
Estimates and judgments are continually evaluated. They are based on historical experience and other factors,
including expectations of future events that may have a financial impact on the Company and that are believed to
be reasonable under the circumstances.
There are no sources of estimation uncertainty that may have a significant risk of causing material adjustments to
the carrying amounts of assets and liabilities in future periods, and also there are no significant judgments that
may require disclosures.
(i) Leave obligation
The leave obligation cover the company''s sick and earned leave.
The amount of provision as on 31.03.2025 Rs.0.51 lakhs (Rs. 0.31 lakhs as on 31.03.2024) is presented as current, since
the company does not have an unconditional right to defer for settlement of these obligations. However, based on past
experience the company does not expect all employees to take the full amount of accrued leave or require payment within
the next 12 months.
(ii) Gratuity
The company provides for gratuity for employees as per the payment of Gratuity Act,1972. Employees who are in
continuous service for a period of 5 years are eligible for gratuity. The level of benefits provided depends on the member''s
length of service and salary at retirement age. The defined benefit obligation is calculated annually by actuary using the
projected unit credit method, is funded with Life Insurance Corporation of India.
(iii) Defined contributions plans
The company has certain defined contribution plans. Contributions are made to provident fund for employees at the rate of
12 % of salary as per regulations. The contribution are made to registered provident fund administered by the Govt.The
obligation of the company is limited to the amount contributed and it has no further contractual or constructive obligation.
The expense recognised during the year towards defined contribution plan is Rs.2.27 lakhs (31st March, 2024 Rs. 2.15
lakhs).
The amount disclosed in the above are the amounts recognised as an expense during the reporting year related to key managerial
personnel. Post employment benefits exclude provision for gratuity and leave encashment which can not be separately identified from the
composite amount as advised by the actuary.
(F) Terms and conditions of transactions with related parties:
The sale 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 interest free and settlement occurs in cash. For the year ended 31st March,2025, the
Company has not recorded any impairment of receivables relating to amounts owed by related parties.
Duration of the given transactions with related parties is one year.
Four-wheeler interest free vehicle loan for Rs. 3.00 lakhs was given to Mr. Ashish Kumar, Company Secretary in December, 2018 against
hypothecation of Vehicle, repayable in hundred equal installments, as per policy of the Company. Outstanding Balance of such Loan is
Rs.0.72 Lakhs as on 31.03.2025 (Rs. 1.08 Lakhs as on 31.03.2024).
Note 24 : Earnings per share (EPS)
In accordance with IND-AS 33 on "Earning per share" the following table reconciles the numerator and denominator used to
calculate basic and diluted earning per share
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.
(ii) Valuation technique used to determine fair value of financial instruments include:
Valuation technique used to determine fair value of financial assets and liabilities is discounted cash flow analysis.
(iii) The following method and assumption are used to estimate fair value:
The carrying amount of trade receivables, trade payables, and cash and cash equivalents are considered to be the same as
their fair values, due to their short-term nature. The fair values for loans, security deposits were calculated based on cash
flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the
inclusion of unobservable inputs including counter party credit risk.
The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are
classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.
For financial assets and liabilities that are measured at fair value, the carrying amount are equal to the fair values.
The senior management oversees the management of these risks. The senior management is supported by the Board of
Directors that advises on financial risks and the appropriate financial risk governance framework for the Company. The
Board reviews and agrees policies for managing each of these risks, which are summarized below.
(a) Credit Risk
Credit risk is the risk that a counterparty will not meet the obligation under a financial instrument or customer contract,
leading to a financial loss. The Company is exposed from its operating activities (primarily trade receivables) and from its
financing activities, including deposits from banks and other financial instruments.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant
increase in credit risk on an going bases through out the reporting period. To assess whether there is a significant increase
in credit risk, the company compares the risk of a default occurring on the asset as at the reporting date with the risk of
default as at the date of initial recognition. It considers available reasonable and supportive forward looking information.
Especially the following indicators are incorporated:
* actual or expected significant adverse changes in business.
* actual or expected significant changes in the operating results of the borrower.
* significant increase in credit risk on other financial instruments of the same borrower.
* significant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or
credit enhancements.
* Financial or economic conditions that are expected to cause a significant change to the borrower''s ability to meet its
obligation.
Expected credit loss for trade receivable on simplified approach:
The ageing analysis of the trade receivables (gross of provision) has been considered from the date of invoice falls due :-
(b) Liquidity Risk
Liquidity risk is defined as the risk that Company will not be able to settle or meet its obligation on time or at a reasonable
price. The Company''s objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral
requirements. Process and policies related to such risk are overseen by the senior management. Management monitors the
Company''s net liquidity position through rolling forecast on the basis of expected cash flows.
The tables below analyse the Company''s financial liabilities into relevant maturity groupings based on their contractual
maturities for all non-derivative financial liabilities .
The following table summarises the maturity profile of the Company''s financial liabilities based on contractual undiscounted
payments.
Financial arrangements : The Company has sufficient surplus funds to meet with its obligation on time and the Company
is not required credit facilities from bank/financial institutions.
(C) Market Risk
Market risk is the risk that the fair value of future cash flow of a financial instrument will fluctuate because of change in
market prices. Market risk comprises three type of risk :
Interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments
affected by market risk include loans and borrowings, deposits, investments and derivative financial instruments. The
sensitivity analyses in the following sections relate to the position as at 31st March, 2025 and 31st March, 2024.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. In order to optimize the Company''s position with regard to interest income and interest expenses
and to manage the interest rate risk, management performs a comprehensive corporate interest rate risk management by
balancing the proportion of the fixed rate and floating rate financial instruments in its total portfolio.
Since Company''s borrowings are Nil as at the end of the reporting period, therefore sensitivity analyses of variable rate
borrowings on fair value or future cash flows could not be carried out.
Note 30 : Contribution to political parties during the year 2024-25 is ? Nil (previous year: ? Nil)
Note 31 :- Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current
year''s classification/disclosure.
Mar 31, 2024
(g) 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, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
A contingent liability is disclosed, unless the possibility of an outflow of resources embodying economic benefits has become probable.
A contingent asset is not recognized but disclosed when an inflow of economic benefits is probable. A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by occurrence or non-occurrence of one or more uncertain events not wholly within the control of the entity.
The income tax expense or credit for the period is the tax payable on the current periodâs taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.
The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the country where the Company operate and generate taxable income. Management evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax assets are recognized for all deductible temporary differences and unused tax losses only will if it is probable that future taxable amounts will be available to utilize those temporary differences and losses.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
(i) Revenue recognition:
Revenue is recognised to the extent that it is probable that the economic benefits will flow and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government. The Company has concluded that it is the principal in all of its revenue arrangements since it is the primary obligor in all the revenue arrangements as it has pricing latitude and is also exposed to inventory and credit risks.
However, good & service tax (GST)/ value added tax (VAT) is not received by the group on its own account. Rather, it is tax collected on value added to the commodity by the seller on behalf of the government. Accordingly, it is excluded from revenue. The specific recognition criteria described below must also be met before revenue is recognised.
Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on delivery of the goods. Revenue from the sale of goods is measured at the fair value of the consideration received or receivable, net of returns, discounts, allowances and rebates.
Rendering of services
Service revenues are recognised as the services are rendered and are stated at net of discounts and taxes. Revenues from prepaid- customers are recognized based on actual usage. When the contract outcome cannot be measured reliably, revenue is recognised only to the extent that the expenses incurred are eligible to be recovered.
Interest income
Interest income is recognised using the bank interest rates which are considered to be effective rate of interest. The effective rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. While calculating the effective interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial instrument (For example prepayments, extension, call and similar options) but does not consider the expected credit losses.
Dividends
Revenue is recognized when the Companyâs right to receive the payment is established, which is generally when shareholders approve the dividend.
(j) Borrowing costs:
Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.
Other borrowing costs are expensed in the period in which they are incurred.
(k) Employee benefits:
(i) Short-term obligations
Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within twelve months after the end of the period in which the employees render the related service are recognized in respect of employeesâ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current benefit obligations in the Balance sheet.
(ii) Other long term employee benefit obligations
The liabilities for earned leave and sick leave are expected to be settled wholly within twelve months after the end of the period in which the employee render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees upto the end of the reporting period using the projected unit method. The benefits are discounted using the market yields at the end of the reporting period that have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognized in profit or loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
(iii) Post-employment obligations
The liability or asset recognized in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by actuary using the projected unit credit method, is funded with Life Insurance Corporation of India.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.
Re measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of changes in equity and in the balance sheet.
Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service cost.
Defined contributions plan
The Companyâs contributions to provident fund and superannuation fund are accounted for as defined contribution plans and the contributions are recognized as employee benefit expense when they are due. The Company has no further payment obligations once the contributions have been paid.
Bonus plans
The Company recognizes a liability and an expense for bonus. The Company recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation.
(l) Earnings per share:
Basic and diluted earnings per share are computed by dividing the profit attributable to the equity shareholders by the weighted average number of equity shares outstanding during the year.
(m) Financial instruments:
(i) Measurement
An initial recognition, the Company measures a financial asset at its fair value plus, in the case of financial asset not at fair value through profit and loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.
Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.
For the purpose of subsequent measurement financial assets are classified in three broad categories
*Amortised cost: A debt instrument is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset 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.
*Fair value through other comprehensive income: A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling 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.
*Fair value through profit or loss: A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss.
Financial liabilities : Financial liabilities are subsequently carried at amortized 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.
(ii) Impairment of financial assets
The Company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ELC.
For all other financial assets, expected credit losses are measured at an amount equal to the 12 months ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in profit or loss.
(iii) Derecognition of financial assets
A financial asset (or, where applicable, a part of a financial asset) is primarily derecognized when:
(a) The contractual right to receive cash flows from the assets have expired, or
(b) The Company has transferred its right to receive cash flow from the financial assets and substantially all the risks and rewards of ownership of the asset to another party.
(n) Offsetting financial instruments:
Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.
(o) Trade payables:
The amount represents liabilities for services provided to the Company prior to the end of the period which are unpaid. The amounts are unsecured non-interest bearings and are usually paid within 30 days of recognition. Trade payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized at amortised cost, and the carrying amounts are reasonable approximation of fair value.
(p) Equity instruments:
Investment in associate is accounted for at its acquisition cost.
Transition to IND AS
IND AS 101 allows an entity to continue with the carrying value of investment in associate at cost as at the date of transition to IND AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition.
The Company has elected to apply this exemption for its investment in associate.
(q) Rounding off amounts:
All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as per the requirement of Schedule III, unless otherwise stated.
Note 3: Accounting estimates, assumptions and judgments:
The preparation of financial statements requires the use of accounting estimates, which by definition, will seldom equal the actual results, also needs to exercise judgment in applying the Companyâs accounting policies, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities, if any. Uncertainty about these assumptions and estimates could result in outcomes of assets and liabilities affected in future periods.
The area involving critical estimate or judgment is
-Recognition of deferred tax assets for carried forward losses - Note 6 -Impairment of trade receivables - Note 5(b)
- Estimation of tax expense - Note 21
Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Company and that are believed to be reasonable under the circumstances.
There are no sources of estimation uncertainty that may have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities in future periods, and also there are no significant judgments that may require disclosures.
(i) Leave obligation
The leave obligation cover the company''s sick and earned leave.
The amount of provision as on 31.03.2024 Rs.0.31 lakhs (Rs. 0.50 lakhs as on 31.03.2023) is presented as current, since the company does not have an unconditional right to defer for settlement of these obligations. However, based on past experience the company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.
(ii) Gratuity
The company provides for gratuity for employees as per the payment of Gratuity Act,1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The level of benefits provided depends on the member''s length of service and salary at retirement age. The defined benefit obligation is calculated annually by actuary using the projected unit credit method, is funded with Life Insurance Corporation of India.
(iii) Defined contributions plans
The company has certain defined contribution plans. Contributions are made to provident fund for employees at the rate of 12 % of salary as per regulations. The contribution are made to registered provident fund administered by the Govt.The obligation of the company is limited to the amount contributed and it has no further contractual or constructive obligation. The expense recognised during the year towards defined contribution plan is Rs.2.15 lakhs (31st March, 2023 Rs. 1.99 lakhs).
(ii) Valuation technique used to determine fair value of financial instruments include:
Valuation technique used to determine fair value of financial assets and liabilities is discounted cash flow analysis.
(iii) The following method and assumption are used to estimate fair value:
The carrying amount of trade receivables, trade payables, and cash and cash equivalents are considered to be the same as their fair values, due to their short-term nature. The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counter party credit risk.
The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.
For financial assets and liabilities that are measured at fair value, the carrying amount are equal to the fair values.
Credit risk is the risk that a counterparty will not meet the obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed from its operating activities (primarily trade receivables) and from its financing activities, including deposits from banks and other financial instruments.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an going bases through out the reporting period. To assess whether there is a significant increase in credit risk, the company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking information. Especially the following indicators are incorporated:
* actual or expected significant adverse changes in business.
* actual or expected significant changes in the operating results of the borrower.
* significant increase in credit risk on other financial instruments of the same borrower.
* significant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or credit enhancements.
* Financial or economic conditions that are expected to cause a significant change to the borrower''s ability to meet its obligation.
Liquidity risk is defined as the risk that Company will not be able to settle or meet its obligation on time or at a reasonable price. The Company''s objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. Process and policies related to such risk are overseen by the senior management. Management monitors the Company''s net liquidity position through rolling forecast on the basis of expected cash flows.
The tables below analyse the Company''s financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities .
(C) Market Risk
Market risk is the risk that the fair value of future cash flow of a financial instrument will fluctuate because of change in market prices. Market risk comprises three type of risk :
Interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits, investments and derivative financial instruments. The sensitivity analyses in the following sections relate to the position as at 31st March, 2024 and 31st March, 2023.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. In order to optimize the Company''s position with regard to interest income and interest expenses and to manage the interest rate risk, management performs a comprehensive corporate interest rate risk management by balancing the proportion of the fixed rate and floating rate financial instruments in its total portfolio.
Since Company''s borrowings are Nil as at the end of the reporting period, therefore sensitivity analyses of variable rate borrowings on fair value or future cash flows could not be carried out.
Note 30 : Contribution to political parties during the year 2023-24 is ? Nil (previous year: ? Nil)
Note 31 :- Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.
Mar 31, 2023
(1) Disclosure under indian Accounting Standard (Ind AS) 105.
Criteria for classification of a noncurrent asset as held for sale are met for a fixed asset of the Company, after the reporting period but before the approval of the financial statements, therefore information required to disclosed as per Ind AS 105 are as under :-
(a) Dscription of the non-current asset: Freehold Land and Building having costing of Rs. 11.28 lakhs and net carrying amount Rs. 1.84 lakhs as on March 31, 2023 and is located at Kurukshetra (Haryana).
(b) Description of the facts and circumstances of the sale, or leading to the expected disposal, and the expected manner and timing of that disposal : The
property is no longer under its previous use, therefore the management is planning to sell out this property at a price which is reasonable in relation to its current fair value. It is highly probabe that the property will be disposed off during the current financial year ending March 31,2024.
(c) Reportable segment in which the non-current asset is presented in accordance with Ind AS 108.: The property is presented under ''Batteries Segment'' in the Segment Reporting section of the financial statements.
(2) Borrowing cost capitalized during the period is Nil.
The Company has only one class of equity shares having a par value of Rs 100 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by each of the equity share holders.
Nature and purpose of reserves:
Capital reserve
This represents the balance in reserve available for capitalisation.
General reserve
This represents appropriation of profits by the company.
Retained earnings
This comprise company''s undistributed profits after taxes. Further, other comprehensive income arising from remeasurement of employees benefit plans, are directly recognized in retained earnings.
The leave obligation cover the company''s sick and earned leave.
The amount of provision as on 31.03.2023 Rs. 0.50 lakhs (Rs. 0.60 lakhs as on 31.03.2022) is presented as current, since the company does not have an unconditional right to defer for settlement of these obligations. However, based on past experience the company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.
The company provides for gratuity for employees as per the payment of Gratuity Act,1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The level of benefits provided depends on the member''s length of service and salary at retirement age. The defined benefit obligation is calculated annually by actuary using the projected unit credit method, is funded with Life Insurance Corporation of India.
(iii) Defined contributions plans
The company has certain defined contribution plans. Contributions are made to provident fund for employees at the rate of 12 % of salary as per regulations. The contribution are made to registered provident fund administered by the Govt.The obligation of the company is limited to the amount contributed and it has no further contractual or constructive obligation. The expense recognised during the year towards defined contribution plan is Rs. 1.99 lakhs (31st March, 2022 Rs. 2.01 lakhs).
(ii) Significant estimates: Actual assumptions and sensitivity
(a) Sensitivities due to morality and withdrawals are not material and hence impact of change is not calculated.
(b) Sensitivity of the defined benefit obligation is determined based on the expected movement in liability if the assumptions were not proved to be true on different count.
While calculating the sensitivity of the defined benefit obligation to significant actuarial assumption the same method (Present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet.
The methods and types of assumption used in preparing the sensitivity analysis did not change compared to the prior period.
The amount disclosed in the above are the amounts recognised as an expense during the reporting year related to key managerial personnel. Post employment benefits exclude provision for gratuity and leave encashment which can not be separately identified from the composite amount as advised by the actuary.
(F) Terms and conditions of transactions with related parties:
The sale 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 interest free and settlement occurs in cash. For the year ended 31st March,2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties.
Duration of the given transactions with related parties is one year.
Four-wheeler interest free vehicle loan for Rs. 3.00 lakhs was given to Mr. Ashish Kumar, Company Secretary in December, 2018 against hypothecation of Vehicle, repayable in hundred equal installments, as per policy of the Company. Outstanding Balance of such Loan is in Rs.1.44 Lakhs as on 31.03.2023 (Rs. 1.80 Lakhs as on 31.03.2022).
Note 24 : Earnings per share (EPS)
In accordance with IND-AS 33 on "Earning per share" the following table reconciles the numerator and denominator used to calculate basic and diluted earning per share
(a) Risk management
The company''s objectives when managing Capital are to:
*Safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and other benefits for shareholders, and
*Maintain an optimal capital structure to reduce the cost of capital
The Company monitors Capital using Gearing Ratio, which is net debt divided by total capital plus debt.
In order to achieve this overall objective, the company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank immediately can recover loans and borrowings. There have been no breaches in the financial covenants of any borrowings in the current period. No changes were made in the objectives, policies or processes for managing capital during the years 31st March 2023 and 31st March 2022.
(i) Fair value hierarchy
This section explains the judgment and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value, and measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into three levels prescribed under the accounting standard.
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.
(ii) Valuation technique used to determine fair value of financial instruments include:
Valuation technique used to determine fair value of financial assets and liabilities is discounted cash flow analysis.
(iii) The following method and assumption are used to estimate fair value:
The carrying amount of trade receivables, trade payables, and cash and cash equivalents are considered to be the same as their fair values, due to their short-term nature. The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counter party credit risk.
The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.
For financial assets and liabilities that are measured at fair value, the carrying amount are equal to the fair values.
* Profit after tax before other comprehensive income
(ii) The Company neither have any Benami property, nor any proceeding has been initiated or pending against the Company for holding any Benami property.
(iii) The Company does not have any transactions with companies struck off.
(iv) The Company does not have any charges or satisfaction which is yet to be registered with Registrar Of Companies (ROC) beyond the statutory period.
(v) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(vi) The Company has not advanced or loaned or invested funds in any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
(vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(viii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.
(ix) There is no Immovable Properties Title deeds of those are not held in the name of the Company.
(x) The company has no investment property and accordingly its fair valuation is not required at year end.
(xi) No revaluation of Property, Plant & Equipment (Including ROU) & Intangible assets has been carried out during the year.
(xii) The Company has not granted loans or advances in the nature of loans to promoters, directors, KMPs and the related parties, either severally or jointly with any other person, that are :
a. repayable on demand; or
b. without specifying any terms or period of repayment.
(xiii) The company has not defaulted on loan from any bank or financial Institution or other lender.
(xiv) Compliance with approved Scheme(s) on the basis of security of current assets - Not Applicable
(xv) The company has no borrowing limits from banks, secured by hypothecation of inventories and by a charge on book debts and other
assets of the company, therefore no monthly returns or statements of current assets are required to filed with banks by the Company.
(xvi) The company is not declared willful defaulter by any bank or financial institution or other lender.
(xvii) The company has complied with number of layers prescribed under clause (87) of Section 2 of the Act read with Companies (restriction on number of layers) Rules, 2017.
The senior management oversees the management of these risks. The senior management is supported by the Board of Directors that advises on financial risks and the appropriate financial risk governance framework for the Company. The Board reviews and agrees policies for managing each of these risks, which are summarized below.
(a) Credit Risk
Credit risk is the risk that a counterparty will not meet the obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed from its operating activities (primarily trade receivables) and from its financing activities, including deposits from banks and other financial instruments.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an going bases through out the reporting period. To assess whether there is a significant increase in credit risk, the company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking information. Especially the following indicators are incorporated:
* actual or expected significant adverse changes in business.
* actual or expected significant changes in the operating results of the borrower.
* significant increase in credit risk on other financial instruments of the same borrower.
* significant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or credit enhancements.
* Financial or economic conditions that are expected to cause a significant change to the borrower''s ability to meet its obligation.
Expected credit loss for trade receivable on simplified approach:
The ageing analysis of the trade receivables (gross of provision) has been considered from the date of invoice falls due :-
(b) Liquidity Risk
Liquidity risk is defined as the risk that Company will not be able to settle or meet its obligation on time or at a reasonable price. The Company''s objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. Process and policies related to such risk are overseen by the senior management. Management monitors the Company''s net liquidity position through rolling forecast on the basis of expected cash flows.
The tables below analyse the Company''s financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities .
Financial arrangements : The Company has sufficent surplus funds to meet with its obligation on time and the Company is not required credit facilities from bank/financial institutions.
(C) Market Risk
Market risk is the risk that the fair value of future cash flow of a financial instrument will fluctuate because of change in market prices. Market risk comprises three type of risk :
Interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits, investments and derivative financial instruments. The sensitivity analyses in the following sections relate to the position as at 31st March, 2023 and 31st March, 2022.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. In order to optimize the Company''s position with regard to interest income and interest expenses and to manage the interest rate risk, management performs a comprehensive corporate interest rate risk management by balancing the proportion of the fixed rate and floating rate financial instruments in its total portfolio.
Since Company''s borrowings are Nil as at the end of the reporting period, therefore sensitivity analyses of variable rate borrowings on fair value or future cash flows could not be carried out.
Note 30 :- Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.
Mar 31, 2018
Note 1: Corporate information
The Yamuna Syndicate Limited (the âCompanyâ) is a Listed Public Limited Company. The registered office of the company is located at Radaur Road, Yamunanagar -135001(Haryana).The company is engaged in trading activities.
Note 2 : Accounting estimates ,assumptions and judgments:
The preparation of financial statements requires the use of accounting estimates, which by definition, will seldom equal the actual results, also needs to exercise judgment in applying the Companyâs accounting policies, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities, if any. Uncertainty about these assumptions and estimates could result in outcomes of assets and liabilities affected in future periods.
The area involving critical estimate or judgment is
-Recognition of deferred tax assets for carried forward losses - Note 6 -Impairment of trade receivables - Note 5(b)
- Estimation of tax expense - Note 22
Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the company and that are believed to be reasonable under the circumstances.
There are no sources of estimation uncertainty that may have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities in future periods, and also there are no significant judgments that may require disclosures.
The Company has recognised deferred tax assets on carried forward losses. The Company is expected to generate taxable income in future years.The losses can be carried forward for a period of eight years and the company expects to recover the losses.
Terms and rights attached to equity shares
The company has only one class of equity shares having a par value of Rs 100 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the compnay, the equity share holders are eligible to receive the remaining assets ofthe Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by each of the equity share holders.
Capital Reserve :
This represents the balance in reserve available for capitalisation.
Capital Redemption Reserve :
Refer 9 (b) (ii) above.
General Reserve :
This represents appropriation of profits by the Company. Retained Earnings
This comprise Companyâs undistributed profits after taxes.
(i) Leave obligation
The leave obligation cover the companyâs sick and earned leave.
The amount of provision of 31.03.2018 in INR Lakhs 0.09 (31.03.2017 in INR Lakhs 0.60) is presented as current,since the company does not have an unconditional right to defer for settlement of these obligations. However,based on past experience the company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.
(ii) Gratuity
The company provides for gratuity for employees as per the payment of Gratuity Act, 1972. Employeeswho are in continuous service for a period of 5 years are eligible for gratuity.The level of benefits provided depends on the memberâs length of service and salary at retirement age.The defined benefit obligation is calculated annually by actuary using the projected unit credit method, is funded with Life Insurance Corporation of India.
(iii) Defined contributions plans
The company has certain defined contribution plans. Contributions are made to provident fund for employees at the rate of 12% of basic salary as per regulations.Thecontribution are made to registered providentfund administered by the Govt.Theobligationof the company is limited to the amount contributed and it has no further contractual or constructive obligation. The expense recognised during the year towards defined contribution plan is in INR Lakhs 0.70 (31st. March, 2017 in INR Lakhs 0.83).
(ii) Significant estimates : Actual assumptions and sensitivity.
(a) Sensitivities due to morality and withdrawls are not material and hence impact of change is not calculated.
(b) Sensitivity of the defined benefit obligation is determined based on the expected movement in liability if the assumptions were not proved to be true on different count.
While calculating the sensitivity of the defined benefit obligation to significant acturial assumption the same method (Present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet.
The methods and types of assumption used in preparing the sensitivity analysis did not change compared to the prior period.
Note 3 a: Segment information
The Chief Executive Officer monitors the operating results of its business segment separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss, and has identified the following reportable segments.:
The Chief Executive Officer primarily uses a measure of adjusted earnings before interest .dividend, depreciation and tax to assess the performance of the operating segment. However, he also receives the information about the segment revenue and assets on a monthly basis.
(b) Segment Revenue
The segment revenue is measured in the same way as in the statement of profit and loss.
(e) Segment Liabilities
Segment liabilities are measured in the same way as in the Financial Statements. These liabilities are allocated based on the operation of the segments. Borrowings and derivative liabilities are not considered to be segment liabilities.
(F) Terms and conditions of transactions with related parties:
The sales and purchases from related parties are made on terms equivalent to those that prevail in armâs length transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. For the year ended 31st March,2018, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (31st.March,2018 : NIL , 31st March, 2017 : NIL).
Deposit from directors are unsecured and the effective interest rate is 11.5% for 3 years. These deposits are repayable to directors on due date from the deposit date.
Note 4 : Capital Management (a) Risk Management
The companyâs objectives when managing Capital are to:
* Safeguard their ability to continue as a going concern, so that they can continue to provide returns and other benefits for the share holders, and
* Maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the company may adjust the amount of dividends paid to share holders, return capital to shareholders.
Consistent with others in the business, the Company monitors capital on the basis of the following gearing ratio :Net debt (total Borrowings net of cash and cash equivalents) divided by Total Equity plus net debt (as shown in the balance sheet).
In order to achieve this overall objective, the companyâs capital management, amongst other things, aims to ensure that it meets financial covenants attached to the borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank immediately can recover loans and borrowings. There have been no breaches in the financial covenants of any borrowings in the current period. No changes were made in the objectives, policies or processes for managing capital during the years 31st March 2018 and 31st March 2017.
(i) Fair value hierarchy
This section explains the judgment and estimates made in determining the fair values of the Financial Instruments that are (a) recognised and measured at fair value, and measured at amortised cost and for which fair values are disclosed in the Financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Compaby has classified its financial instruments into three levels prescribed under the accounting standard. An explanation of each levels follows underneath the table:
Level 1Level 1 hierarchy includes financial instruments measured using quoted prices.This includes listed equity instruments, traded bonds,and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are traded in stock exchanges is valued using the closing price at the reporting period.
Level 2:- The fair value of financial instruments that are not traded in an active market (for example, traded bonds,over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3:- If one or more ofthe significant inputs is not based on observable market data, the instrument is included in Ievel3. This is the case of unlisted equity securities,contingent consideration and idemntification asset included in level 3.
The carrying amount of trade receivables, trade payables , and cash and cash equivalents are considered to be the same as their fair value, due to their short term nature. The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs, including counterparty credit risk.
The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.
For financial assets and liabilities that are measured at fair value, the carrying amount are equal to the fair values.
Note 5 : Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006
The Micro, Small and Medium Enterprises Development (MSMED) Act,2006 requires specific disclosures to be made in financial statements of the buyer whereversuch financial statements are required to be audited under any Act. IND-AS Compliant Schedule III is silent on MSMED disclosures. However,These financial statements do not contain statutory disclosures such as disclosures required under MSMED as the company has not received any intimation from suppliers regarding their status under MSMED Act.
Note 6 : Financial Risk Management:
The Companyâs Financial Liabilities, comprise trade and other payables, and Financial Assets include trade and other receivables, cash and cash equivalents and other financial assets measured at amortised cost. The Company is exposed to Market risk,Credit risk and Liquidity risk.
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk.
The senior management oversees the management of these risks. The senior management is supported by the Board that advises on financial risks and the appropriate financial risk governance framework for the company . The Board provides for overall risk management as well as policies covering specific areas, such as credit risk, use of non-derivative financial instruments, and investment of excess liquidity. The companyâs financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the companyâs policies and risk objectives. The Board reviews and agrees policies for managing each of these risks, which are summarised below.
(a) Credit Risk
Credit risk is the risk that a counter party will not meet the obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed from its operating activities (primarily trade receivables) and from its financing activities, including deposits from banks and other financial instruments.
The company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an going bases through out the reporting period. To assess whether there is a significant increase in credit risk, the company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking information. Especially the following indicators are incorporated.
* actual or expected significant adverse changes in business, financial or economics conditions that are expected to cause a significant change to the borrowerâs ability to meet its obligations.
âactual or expected significant changes in the operating results of the borrower.
âsignificant increase in credit risk on other financial instruments of the same borrower.
âsignificant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or credit enhancements.
âsignificant changes in the expected performance and behavior of the borrower, including changes in the payment status of borrowers in the company and changes in the operating results of the borrower.
Trade Receivables
The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in note 5(b). The company does not hold collateral as security. Customer credit risk is managed by the companyâs established policy,procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored and an impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively .
The calculation is based on exchange losses historical data. 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 Doubtful assets are written off when there is no resonable expectation of recovery, such as debtor declaring bankruptcy or failing to engage in a repayment plan with the company. The company categorises a loan or receivables for write off when a debtor fails to make contractual payments and credit risk has increased significantly and considered as low quality assets. Where loans or receivables have been written off, the company continues to engage in enforcement activity to attempt to recoverthe receivable due. Where recoveries are made, these are recognised in the profit and loss.
Significant estimates and judgments Impairment of Financial Assets
The impairment provisions for financial assets disclosed above are based on assumptions about risk of default and expected loss rates The company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on the companyâs past history, existing market conditions as well as looking estimates at the end of each reporting period.
(b) Liquidity Risk
Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due. Management monitors rolling forecasts of the companyâs liquidity position (comprising the undrawn facilities below) and cash and cash equivalents on the basis of expected cash flows.
(i) Financing arrangements
The Company had access to the following undrawn borrowing facilities at the end of the reporting period:
The bank overdraft facilities may be drawn at any time and may be terminated by the bank without notice.
(ii) Maturities of financial liabilities
The tables below analyse the companyâs financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities .
(c) Market Risk
Market Risk is the risk that the fair value of future cash flow of a financial instrument will fluctuate because of change in market prices. Market risk comprises three type of risk :
Interest Rate Risk, Currency Risk and other price Risk,such as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits, FVTOCI investments and derivative financial instruments.
The sensitivity analyses in the following sections relate to the position as at 31st March 2018 and 31st March 2017.
The Sensitivity analyses have been prepared on the basis that the amount of net debt, the ratio of fixed to floating interest rates of the debt and derivatives are all constant.
The analyses exclude the impact of movements in market variables on the carrying values of gratuity and other post retirement obligations; provisions; and the non-financial assets.
The following assumptions have been made in calculating the sensitivity analyses:
The sensitivity of the relevant proft or loss item is the effect of the assumed changes in respective market risk. This is based on the financial assets and financial liabilities held at 31st March 2018 and 31st March,2017.
Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash fows of a financial instrument will fluctuate becauseof changes in market interest rates. The company exposure to the risk of changes in market interest rates relates primarily to the company long - term debt obligations with floating interest rates. Companypolicy is to maintain most of its borrowings at fixed rate using interest rate swaps to achieve this when necessary. The company fixed rate borrowings are carried at amortised cost. Theyare therefore not subject to interest rate risk as defined in Ind AS107, since neither the carrying amount nor the future cash flows will fluctuate becauseof a change in market interest rates. Thecompany manages its cash flow interest rate risk by using floating - to - fixed interest rate swaps. Generally, the company raises long term borrowings at floating rates and swaps them into fixed rates that are lower than those available if the company borrowed at fixed rates directly.
Note 7 Previous yearâs figures have been regrouped / reclassified wherever necessary to correspond with the current yearâs classification / disclosure.
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మరింత సమాచారం The Yamuna Syndicate Ltd.
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The Yamuna Syndicate Ltd. కంపెనీ వివరాలు
- కంపెనీ ప్రొఫైల్
- కంపెనీ చరిత్ర
- నిర్వహణ బృందం
- క్యాపిటల్ స్ట్రక్చర్
- ప్రొడక్ట్ మిక్స్
- బ్యాంకర్/ఆడిటర్/రిజిస్ట్రార్
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కంపెనీ చరిత్ర
- బిఎస్ఇ ధర చరిత్ర
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The Yamuna Syndicate Ltd. ముఖ్య ఆర్థిక నిష్పత్తులు
- నిష్పత్తులు
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The Yamuna Syndicate Ltd. ఫలితాలు
- క్వార్టర్లీ ఫలితాలు
- హాఫ్ ఇయర్లీ ఫలితాలు
- 9నెలల ఫలితాలు
- వార్షిక ఫలితాలు
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The Yamuna Syndicate Ltd. ఆర్థిక డేటా
- ఆడిట్ ఫలితాలు
- క్యాష్ ఫ్లో
- బ్యాలెన్స్ షీట్
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The Yamuna Syndicate Ltd. నివేదికలు
- అకౌంటింగ్ విధానాలు
- ఆడిటర్స్ నివేదిక
- డైరక్టర్స్ నివేదిక
- ఖాతాకు గమనికలు
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The Yamuna Syndicate Ltd. కార్పొరేట్ ప్రకటనలు
- బుక్ క్లోజర్
- డివిడెండ్
- బోర్డు సమావేశాలు
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బ్లూ-చిప్ స్టాక్లలో కొనుగోళ్ల జోరు.. 609 పాయింట్లు ఎగబాకిన సెన్సెక్స్.. 24177 పాయింట్ల వద్ద ముగిసిన నిఫ్టీ.. -
నష్టాల్లో ముగిసిన సూచీలు.. 24 వేల మార్క్ దిగువకు నిఫ్టీ.. 417 పాయింట్లు కోల్పోయిన సెన్సెక్స్.. -
HCL share: స్టాక్ పడిపోతుంటే ఇన్వెస్టర్లు ఎందుకు కొంటున్నారు? HCL టెక్ వెనుక ఉన్న అసలు సీక్రెట్ ఇదే! -
నిఫ్టీ టార్గెట్ తగ్గింపు.. భారత మార్కెట్కు జేపీ మోర్గాన్ షాక్! -
స్టాక్ మార్కెట్ భారీ క్రాష్.. రూ. 6 లక్షల కోట్లు ఆవిరి.. మూడు రోజుల్లో సెన్సెక్స్ 2,600 పాయింట్లు ఢమాల్.. -
మూడో రోజు కూడా కుప్పకూలిన స్టాక్ మార్కెట్.. భారీ నష్టాలతో ఇన్వెస్టర్లు విలవిల -
కుప్పకూలిన స్టాక్ మార్కెట్.. భారీ నష్టాల్లో ఐటీ రంగం షేర్లు.. ఇన్వెస్టర్లు లబోదిబో.. -
Stock market: పెరుగుతున్న స్టాక్ మార్కెట్! చమురు ధరలు తగ్గడమే కారణమా? ఇన్వెస్టర్లు ఇప్పుడేం చేయాలంటే.. -
ఇన్వెస్టర్లు డబ్బుతో రెడీగా ఉండండి.. రేపు బలంగా ర్యాలీ చేయనున్న నిఫ్టీ.. కారణాలు ఇవే.. -
IPO: స్టాక్ మార్కెట్ చరిత్రలోనే కీలక అడుగు.. ఏప్రిల్ 20న ఏం జరగబోతోంది? -
బలంగా ప్రారంభమై యూ-టర్న్ తీసుకున్న మార్కెట్..సెన్సెక్స్ 300 పాయింట్లు ఢమాల్.. కారణం ఏంటంటే.. -
Stock market: వర్షం పడితేనే స్టాక్ మార్కెట్లో లాభాల పంట! మాన్సూన్ ఎఫెక్ట్ వెనుక ఉన్న అసలు రహస్యం ఇదే! -
Stock Market: సెన్సెక్స్ టాప్ లూజర్స్ ఇవే.. ఇన్వెస్టర్లు అప్రమత్తంగా ఉండాలా, లేక ఇన్వెస్ట్ చేయాలా? -
Stock market: ఐటీ స్టాక్స్ క్రాష్! నిఫ్టీ ఐటీ ఇండెక్స్ డౌన్.. భారీ నష్టాల్లో టాప్ కంపెనీలు! -
Stock market: సెన్సెక్స్ పతనం.. కానీ రికవరీ మొదలైందా? నేటి మార్కెట్ టాప్ విన్నర్స్ వీరే!
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