11. Provision and Contingencies
The assessment undertaken in recognizing provisions and contingencies have been made in accordance with
Ind AS 37, 'Provisions ,Contingent Liabilities and Contingent Assets', The evaluation of the likelihood of the
contingent events requires best judgment by management regarding the probability of exposure to potential
loss. In case of change in the circumstances the following unforeseeable developments, the likelihood could
alter.
12. Employee Benefits
(a) Short term Employee benefits:
All employee benefits falling due wholly within two months of rendering the services are classified as short-term
employee benefits. The benefits like salaries, wages, and short term compensated absences etc. and the
expected cost of bonus; ex-gratia is recognized in the period in which the employee renders the related service.
(b) Post-employment benefits:
i) Defined Contribution Plan
The Company has Defined Contribution plan for post-employment benefit namely Provident Fund, which is
recognised by the income tax authorities and administered through appropriate authorities.
The Company contributes to a Government administered Provident Fund and has no further obligation beyond
making its contribution.
ii) Defined Benefit Plans
The Company has taken a policy with Life Insurance Corporation of India (LIC) to cover the gratuity liability of
the employees and premium paid to the LIC is charged to Profit & Loss Account.
(c) Leave encashment
Based on the leave rules of the company, employees are not permitted to accumulate leave.
(d) Termination benefits are recognized as an expense as and when incurred.
13. Earnings per Share
Basic earnings per equity share is computed by dividing the net profit or loss attributable to equity shareholders
of the Company by the weighted average number of equity shares outstanding during the financial year.
Diluted earnings per equity share is computed by dividing the net profit or loss attributable to equity
shareholders of the Company by the weighted average number of equity shares considered for deriving basic
earnings per equity share and also the weighted average number of equity shares that could have been issued
upon conversion of all dilutive potential equity shares..
14. Dividend distribution to Equity Share holders
Dividend distributed to Equity Shareholders is recognized as distribution to owners of capital in the statement of
changes in Equity in the period in which it is paid.
15. Cash and cash equivalents
The Group considers all highly liquid financial instruments, which are readily convertible into known amounts of
cash that are subject to an insignificant risk of change in value and having original maturities of three months or
less from the date of purchase, to be called cash equivalents. Cash and cash equivalents consist of balances
with banks which are unrestricted for withdrawal and usage.
16. Equity instruments
An equity instrument is a contract that evidences residual interest in the assets of the company after deducting
all of its liabilities. Equity instruments recognized by the Group are recognized at the proceeds received net of
direct issue cost.
17. Exceptional Items
An item of income or expense which by its size, type or incidence requires disclosure in order to improve an
understanding of the performance of the company is treated as an exceptional item and the same is disclosed
in the financial statement. in the financial statement.
13.1 Security
a Equipment & Vehicle Loans from ICICI Bank are secured by hypothecation of the specific vehicles or
equipments.
b Term Loan from Kotak Mahindra Bank Ltd. are secured by Equitable Mortgage on Industrial Plot situated at
Khasra no. 1313, Village Pandoli, Chittorgarh and subservient charge on all existing and future current assets
and fixed assets of the company. Further Secured by personal guarantee of Suresh Kumar Inani, Mahesh
Kumar Inani, Indira Inani, Vimla Devi Inani, Anuj Inani, Rishi Raj Inani and corporate guarantee of SM Inani
Industries Pvt. Ltd. and equitable mortgage of Guaranter's personal properties.
c Second charge over existing primary as well as colleteral securities and guarantee of National Credit
Guarantee Trustee Company Ltd. Under ECLGS scheme.
d Second charge over existing primary as well as colleteral securities and guarantee of National Credit
Guarantee Trustee Company Ltd. Under ECLGS scheme.
e Second charge over existing primary as well as colleteral securities and guarantee of National Credit
Guarantee Trustee Company Ltd. Under ECLGS scheme.
f Solar Power Plant secured by hypothecation af plant and also expand the security of the cash credit limits
written at Sr. No. 15.1
g Vehicle Loans from BOB Bank are secured by hypothecation of the specific vehicles.
h Vehicle Loans from BOB Bank are secured by hypothecation of the specific vehicles.
i Vehicle Loans from BOB Bank are secured by hypothecation of the specific vehicles.
j Vehicle Loans from BOB Bank are secured by hypothecation of the specific vehicles.
k Vehicle Loans from BOB Bank are secured by hypothecation of the specific vehicles.
(ii) Dividend not recognised at the end of reporting period
In addition to the above dividend, at the year end the company's Board of Directors have proposed the
payment of final dividend of Rs. 0.04 per fully paid Equity Share . This proposed dividend is subject to the
approval of the shareholders in ensuing Annual General Meeting. The total outgo towards the same will be Rs.
7.44 Lakhs.
34. DISCLOSURE AS PER IND AS 19 "EMPLOYEE BENEFITS"
a) Defined Contribution Plan
The Company makes contributions towards Employees Provident Fund and Family Pension Fund for
qualitying employees. The Fund is operated by the Regional Provident Fund Commissioner. The amount of
contribution is recognised as expense for defined contribution plans.
Total contribution made by the employer to the Fund during the year is Rs. 9.71 Lakhs (Previous year Rs.
8.73 Lakhs ).
b) Defined Benefit Plan
(i) Gratuity
The Company has taken a policy with Life Insurance Corporation of India (LIC) to cover the gratuity liability
of the employees and premium paid to the LIC is charged to Profit & Loss Account.
35. DISCLOSURE AS PER IND AS 108 "OPERATING SEGMENTS"
(i) The Company is engaged in Business of Granite , Stone, Marble & Quartz Processing. Hence there is no
separate business segments
Disclosures and Additional Informations (Contd.)
45 Figures have been rounded off to nearest Rupees.
46 Disclosure of Transaction with Companies Struck Off
The Company does not have any transactions with company which have been strucked off.
47 Disclosure of Borrowings on Security of Current Assets
The Company has borrowed funds from banks on the basis of security of current assets. The quarterly returns filed
by the company to bank or financial institution are in line with books of accounts.
48 Disclosure of Benami Property
The company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of
1988) and rules made thereunder.
49 Disclosure of Undisclosed Income
There are no transaction which is not recorded in the books of accounts and 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 relevent provisions of The Income Tax Act, 1961.
50 Disclosure of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
51 Disclosure of Wilful Defaulter
The company has not declared as a wilful defaulter by any bank or financial institution or any other lender during
the financial year.
52 Disclosure of Registration of Charge with ROC
The Company has filed all type of applicable charges or satisfaction with Registrar of Companies (ROC) in time, So
there are no charges of satisfaction is pending for registration with ROC as on balance sheet date.
53 Disclosure of Compliance with Number of Layer Companies
The company is neither a holding company of any subsidiaries companies not a subsidiary company of any
holding company, hence The company is not covered under clause (87) of section 2 of the Companies Act along
with the Companies (Restriction on number of Layers) Rules, 2017.
54 Disclosure of Scheme of Arrangement
The Company has not entered in any Scheme of Arrangements which has been approved by the Competent
Authority in terms of sections 230 to 237 of the Companies Act, 2013.
55 Disclosure of Title Deeds of Immovable Property
The title deeds of all immovable properties are in the name of Company.
As per our report of even date attached For & on behalf of the Board of Directors
For: Nyati Mundra & Co.
Chartered Accountants
(FRN. 008153C) Capt. S.K.Inani Mahesh Kumar Inani
Managing Director Joint Managing Director
DIN 00219702 DIN 00322735
CA R.K. NYATI
Partner
(M.N.070692)
Madhu Bala Sharma Rishi Raj Inani
Place : Chittorgarh Company Secretary Chief Finanicial Officer
Date : 29.05.2024 (M.N. A28864)
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