Provisions are recognized when the Company has a present legal or constructive obligation as a result of past
events, it is probable that an outflow of resources will be required to settle the obligation and the amount
can be reliably estimated. A provision is made in respect of onerous contracts, i.e., contracts in which the
unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to
be received under such contracts. Provisions are not recognized for other future operating losses. The
carrying amounts of provisions are reviewed at each balance sheet date and adjusted to reflect the current
best estimate.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement
is determined by considering the class of obligations as a whole.
Provisions are measured at the present value of management's best estimate of the expenditure required to
settle the present obligation at the end of the reporting period. The discount rate used to determine the
present value is a pre-tax rate that reflects current market assessments of the time value of money and the
risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest
expense.
A disclosure for contingent liabilities is made where there is a possible obligation or a present obligation that
may probably not require an outflow of resources or an obligation for which the future outcome cannot be
ascertained with reasonable certainty. When there is a possible or a present obligation where the likelihood
of outflow of resources is remote, no provision or disclosure is made.
Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are
subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs)
and the redemption amount is recognized in the Statement of profit and loss over the period of the
borrowings using the effective interest method.
Borrowings are derecognized from the balance sheet when the obligation specified in the contract is
discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has
been extinguished or transferred to another party and the consideration paid, including any non-cash assets
transferred or liabilities assumed, is recognized in Statement of profit and loss as other gains/(losses).
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer
settlement of the liability for at least 12 months after the reporting period.
General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalized during the period of time that is required to complete and
prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use or sale.
Other borrowing costs are expensed in the period in which they are incurred.
The Company has no suppliers and customers covered under Micro, Small and Medium Enterprises
Development Act, 2006. Management believes that on confirmation there will not be any material impact
on statement of financial statements.
Key Management personnel
• Ankush Bakshi (Managing Director)
• Anuj Bakshi (Executive Director)
• Roshni Bakshi (Executive Director)
• Kanika Bakshi (Executive Director)
• Pankaj Khanna (Company Secretary)
• Sharad Agarwal (Chief Financial Officer, appointed w.e.f. 02.08.2024)
• Arihant Jain (Non-Executive & Independent Director, w.e.f. 27.06.2023)
• Sathvik Jain Non-Executive & (Independent Director)
• Jagjit Singh Kochar ((Non-Executive & Independent Director, resigned w.e.f. 06.08.2024)
• Malti Jaiswal (Non-Executive & Independent Director)
• Dinesh Shaw (Non-Executive & Independent Director, appointed w.e.f. 02.11.2024))
Enterprises over which Key Management Personnel exercise significant influence
• M/s United Wines
• NS Bonded Warehouse Pvt. Ltd.
When an item of income or expense within Statement of profit and loss from ordinary activity is of such size,
nature or incidence that its disclosure is relevant to explain more meaningfully the performance of the
Company for the year, the nature and amount of such items is disclosed as exceptional items.
The Company is engaged in the business of purchase and sale of beverage alcohol (spirits and wines). The
Management of the Company (being the Chief Operating Decision Maker) assesses performance and
allocates resources for the business of the Company as a whole and hence the management considers
company's business activities as a single operating segment (viz. Beverage alcohol). As such no segment
disclosures have been made in the financial statements as at and for the year ended 31st March, 2025.
D) Terms/rights attached to equity share
The Company has only one class of equity shares having par value of ^10/- per share. Each holder of equity
share is entitled to one vote per share. The Company declares dividend in Indian Rupees. The dividend, if
any, proposed by the Board of Directors is subject to approval of the Shareholders in the ensuing Annual
General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company after payment of all liabilities. The distribution will be in proportion
to the number of equity shares held by the shareholders.
During the year, the Company has made Nil Contributions during the year (P.Y. ^ 120.00 Lakhs) through
purchase of 'Electoral Bonds' issued under 'Electrol Bond Scheme' introduced by Government of India. The
bonds have been encashed by political parties registered under Section 29A of the Representation of the
People Act.
Note No. 26
As per Section 135 of the Companies Act 2013, a company, meeting the applicability threshold, needs to
spend at least 2% of its average net profit for the immediately preceding three financial years on corporate
social responsibility (CSR) activities. A CSR committee has been formed by the company as per the Act. The
funds were primarily utilized throughout the year on activities as stated in para (VII) below, which are
specified in Schedule VII of the Companies Act 2013:
a. Defined Contribution Plans
Provident Fund:
Provident Fund covers substantially all permanent workmen. Contributions towards Provident Fund are
made as a percentage of salary, as per regulations to a fund administered by government authority. The
obligation of the Company is limited to the extent of contributions made on a monthly basis.
During the year, the Company has recognised the following amounts in the Statement of Profit & Loss, which
are included in contribution to provident fund in the employee benefit expense:
b. Defined Benefit Plans
Gratuity:
The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of
continuous service gets a gratuity on departure at 15 days' salary (last drawn salary) for each completed year
of service.
As per Actuarial Valuations as on 31st March, 2025 and recognised in the financial statements in respect of
Employee Benefit Schemes:
Assets are tested for impairment whenever there are any internal or external indicators of impairment.
Impairment test is performed at the level of each Cash Generating Unit ('CGU') or groups of CGUs within the
Company at which the goodwill or other assets are monitored for internal management purposes, within an
operating segment. The impairment assessment is based on higher of value in use and value from sale
calculations.
During the year, the testing did not result in any impairment in the carrying amount of assets.
Note No. 31
The Board of Directors have proposed a final dividend of ^0.30 per Equity Share for the FY 2024-25 (P.Y. ^
0.25 per Equity Share). The same is subject approval by the Shareholders at the ensuing Annual General
Meeting.
Note No. 32
The Company has not received intimation from vendors regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence, disclosures relating to amount unpaid as on 31st March,
2025 together with interest paid or payable under this Act have not been given.
Note No. 33
The company does not have any derivative contracts as at 31st March, 2025.
Note No. 34
Previous Year's figures have been regrouped/reclassified to conform to the current year's classification
Note No. 35
All amounts are disclosed in the financial statements and notes in rupees lakhs and rounded off to two
decimal places.
Note No. 36
A. Title deeds of Immovable Property
The title deeds of all the immovable properties, disclosed in the financial statements included in Property,
Plant and Equipment (Note No. 3) are held in the name of the Company as at the balance sheet date.
B. Loans or advances in the nature of loans are granted to promoters, directors, KMPs and the related
parties
There is no Loan/Advance to Promoters, Directors, KMP and the related Parties.
C. Details of Benami Property held
There have been no proceedings initiated or pending against the Company for holding any benami property
under the Benami Transactions (Prohibition) and Act, 1988 (45 of 1988) and rules made thereunder.
D. Borrowings from banks or financial institutions on the basis of security of Current Assets
The Company has used the borrowings from banks and financial institutions for the specific purpose for
which it was obtained.
E. Wilful Defaulter
The Company has not been declared a wilful defaulter by any bank or financial institution or other lender.
F. Relationship with Struck off Companies
The Company has not entered into any transactions with the companies struck off under section 248 of the
Companies Act, 2013 or section 560 of the Companies Act, 1956.
G. Registration of charges or satisfaction with Registrar of Companies (ROC)
Registration of Charges or Satisfaction with the Registrar of Companies (ROC) done within the statutory
period.
H. Compliance with number of layers of Companies
The Company has no subsidiaries or investments in other companies, accordingly compliance with the
number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on
number of Layers) Rules, 2017, are not applicable.
I. Compliance with approved Scheme(s) of Arrangements
There are no Scheme of Arrangements approved by the Competent Authority in terms of section 230 to 237
of the Act.
J. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (intermediaries) with the understanding that the intermediary shall:
i. 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
ii. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
K. 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:
i. 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
ii. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
L. Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
As per our report on even date
For J K S S & Associates For and on behalf of the Board of Directors
(Formerly known as J K Sarawgi & Company)
Chartered Accountants
FRN: 006836C Ankush Bakshi Anuj Bakshi
Managing Director Executive Director
CA Sanket Arvind Patel DIN: 02547254 DIN: 02500120
Partner
M. No. 160436
UDIN: 25160BMRJMS9623
Place: Kolkata Sharad Agarwal Pankaj Khanna
Date: 28th May, 2025 Chief Financial Officer Company Secretary
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