m) Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognized 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. Contingent Liability is disclosed in case of a present obligation arising from past events,
when it is not probable that an outflow of resources will be required to settle the obligation or
where no reliable estimate is possible. Contingent Liabilities are not recognized in Financial State¬
ments but are disclosed in the Notes to Accounts. Contingent Asset is a possible asset that arises
from past events and whose existence will be confirmed only by the occurrence or non-occurrence
of one or more uncertain future events not wholly within the control of the Entity. Contingent As¬
sets are not recognized in Financial Statements and are disclosed in the Notes when it is virtually
certain that economic benefits will inflow to the Company.
n) Earnings per Share (EPS)
Basic EPS is computed using the Weighted Average Number of Equity Shares outstanding during
the period. Diluted EPS is computed using the Weighted Average Number of Equity and dilutive
Equity equivalent Shares outstanding during the period except where the results would be anti¬
dilutive.
14. Government Subsidy
Subsidy from the Government is recognized when there is reasonable assurance that the Company
will comply with the conditions attached to them.
ADDITIONAL INFORMATION TO THE FINANCIAL STATEMENTS
15. Share Capital
There was no change in the Share capital of the Company during the year.
16. Disclosures required under Section 22 of the Micro, Small and Medium Enterpris¬
es Development Act, 2006
As at 31sfc March, 2025, the Company has no dues to suppliers registered under Micro, Small and Me¬
dium Enterprises Development Act, 2006 ('MSMED Act'). The disclosures pursuant to the said
MSMED Act are as follows:
Disclosure of payable to vendors as defined under the "Micro, Small and Medium Enterprise Develop¬
ment Act, 2006" is based on the information available with the Company regarding the status of
registrationof such vendors under the said Act, as per the intimation received from them on requests
made by the Company. There are no overdue principal amounts / interest payable amounts for delayed
payments to such vendors at the Balance Sheet date. There are no delays in payment made to such
suppliers during theyear or for any earlier years and accordingly there is no interest paid or outstanding
interest in this regard in respect of payment made during the year or on balance brought forward from
previous year.
17. Disclosure under regulation 34 (3) of SEBI (Listing Obligations & Disclosure Re¬
quirement) Regulations, 2015
The Company does not have any subsidiaries.
18. Related Party disclosure as required by Accounting Standard (AS) 18 “Related
Party Disclosure"
They are no Related Party Disclosures with whom transactions have been taken place during the year.
19. Applicability of IND AS 108
The Company operates in a Single Segment. Accordingly, disclosures under Indian Accounting Stan¬
dards (IND AS) 108 on operating segments are not applicable to the Company.
20. Earnings Per Share (EPS):
Basic EPS and Diluted EPS amounts are calculated by dividing the Profit for the year attributable to
Equity holders of the Company by the Weighted Average Number of Equity Shares outstanding during
the year.
22. Additional information pursuant to Note 5 of Part II of Schedule III of the Com¬
panies Act, 2013: Foreign Exchange Transactions
There were no foreign Exchange transactions during the year 2024-25. (Previous
year Nil)
23. Capital commitment and contingent liabilities
a) Capital commitment
There are no capital commitment outstanding as at reporting date March 31, 2025
(as at March31, 2024: NIL)
b) Contingent Liabilities and Commitments
There are no contingent liabilities.
26. The Disclosures of Employee Benefits:
Since there are no employees during the year, no provision has been created for
Gratuity or other retirement benefits.
27. Taxes and Deferred
Tax During the year, the Company has incurred loss and consequently no provision for Income Tax has
been made. Deferred Tax asset is not accounted for against the losses since there are no commercial
operations as on the date of balance sheet.
28. Other Statutory Information:
i) The Company has not been declared willful defaulter by any bank or financial institution or govern¬
ment or any government authority.
ii) The Company has not granted Loans or Advances in the nature of loans to promoters, Directors,
KMPsand the related parties.
iii) The Company does not have any transactions with companies which are struck off.
29. Previous year's figures have been regrouped/reclassified wherever necessary to
correspond with the current year's classification/disclosure.
As per Our report of even date For and on behalf of the Board of Directors
For PPKG & Co of Mipco Seamless Rings (Gujarat) Limited
Chartered Accountants, FRN: 009655S
Girdhari Toshniwal Vikky Jain Venkat Rao Sadhanla
PARTNER Additional Director Non-Executive Director
Membership No: 205140 (Whole-Time Director) DIN: 02906370
DIN:11022293
Date: 29.05.2025
Place: Hyderabad
Amarjit Rajbhar Labdhi Jain
Chief Financial Officer Company Secretary & Compliance Officer
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