The Authorised Share Capital was increased from 10,00,000 equity shares of Rs. 10 each to 1,50,00,000 equity shares of Rs. 10 each vide resolution passed in the meeting of Shareholder's dated 23rd September 2023.
The addition of shares in "Issued, subscribed & fully paid up" of 1,15,92,900 shares includes 77,78,230 bonus shares, 33,26,000 shares in IPO.
TERM/RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity shares having a par value of Rs 10 per share. Holder of each equity share is entitled to one vote. The Company declares and pays dividends in Indian Rupees (If any). The dividend proposed by the board of directors is subject to the approval of shareholders at 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 distribution of all preferential amounts. The distribution to equity shareholders will be in proportion to the number of equity shares held by the shareholders.
9. In the opinion of Board of Director & best of their knowledge and belief, the provisions of all known liabilities are adequate.
10. In the opinion of Board of Director current assets, loan & advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.
11. As per information available with the company, no amount is due to any undertaking/enterprises covered under Micro, Small and Medium Enterprises Development Act,2006
14. Previous year figure have been regrouped/rearranged wherever necessary to render them comparable with current year figures.
15. DISCLOUSRE FOR POST-EMPLOYENT BENEFITS A. Defined Contribution Plans
The Company makes Provident Fund and Employees' State Insurance which are defined contribution plans, for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits.
B. Defined Benefit Plan
The Company offers the following employee benefit schemes to its employees:
Gratuity
The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of services is entitled to gratuity on terms as per the provisions of the Payment of Gratuity Act,1972. The scheme is unfunded.
The Company has recognised the following amounts in the Statement of Profit and Loss for the year:
17. CORPORATE SOCIAL RESPONSIBILITY (CSR) EXPENDITURE;
As per information available with the company, The Corporate Social Responsibility (CSR) Expenditure is not appliable on company for the current financial year.
18. DETAILS OF IPO AND NET IPO PROCEEDS UTILIZATION:
a) During the year ended 31st March 2024, the company has completed its initial public offer (IPO) of 33,60,000 equity shares (Fresh Issue) of face value of 10/- each at an issue price of Rs. 84/- per share (including premium of Rs. 74/- per share) aggregating to Rs. 2,822.40 lacs. The equity shares of the company were listed on National Stock Exchange Limited Small and Medium Exchange (NSE SME) on 23 February 2024. The Company has incurred Rs. 429.78/- lacs as IPO related expenses.
b) The Company has received an amount of Rs. 28,22,40,000 from proceeds of fresh issue of equity shares. The utilization of net IPO Proceeds is summarized as below:
20. ADDITIONAL REGULATORY INFORMATION
(i) The company does not have any immovable property during the year.
(ii) There is no any Proceeding have been initiated or pending on or against of the company for holding any benami Property under the Benami Transaction (Prohibition) Act, 1988 (section 45 of 1988) and the rules made thereunder.
(iii) The Company have Short-Term Borrowing from Bank on the basis of security of Current Assets and collaterally secured by Commercial Property & personal Guarantee of Directors.
(iv) The company have not been declared a wilful defaulter by bank, financial institution or other lenders.
(v) The Company does not have any transaction with "the Companies struck off under section 248 of the companies Act 2013 or Section" 560 of Companies Act 1956.
(vi) There is no charge or modification yet to be registered with the Registrar of the companies beyond the statutory period.
(vii) Company does not has traded or invested in crypto Currency or Virtual Currency during the financial Year.
21. OTHERS
(i) There are no funds that have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company; or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(ii) There have been no funds that have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
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