Bindal Exports Ltd. कंपली की लेखा नीति

Mar 31, 2025

SIGNIFICANT ACCOUNTING POLICIES & NOTES ON FINANCIAL STATEMENTS

(a) The aforesaid financial results have been reviewed by the audit committee and subsequently approved by the board of directors at its meeting held on - 29th May,2025

(b) The standalone financial results for the year ended March 31, 2025 were audited by the statutory auditors of the company.

Company Overview

Bindal Exports Limited ("The Company") is engaged in the business of Manufacturing & Trading of Textile.

The Company is a Public limited company incorporated and domiciled in India and has its registered office at Plot No. 270, Bindal House, Surat Kadodara Road, Near Kumbharia Bus Stand, Kumbharia, Surat, Choryasi, Gujarat, India, 395010.

1) Significant Accounting Policies

A) BASIS OF PREPARATION

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India.These financial statements have been prepared to comply in all material respects with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2021 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on an accrual basis and going concern basis. The accounting policies have been consistently applied by the company are consistent with those used in the previous year.

In order to comply with the requirement of Schedule III, Figures appearing in the financial statement has been rounded off to the nearest Thousand or decimal thereof.

B) USE OF ESTIMATES

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported balance of revenue,expenses, assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements. Although these estimates are based on the managements best knowledge of current events and actions, uncertainly about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

C) PROPERTY, PLANT & EQUIPMENT

Fixed Assets are stated at cost net of recoverable taxes,less accumulated depreciation/amortisation. Costs include all expenses incurred to bring the assets to its present location and condition.

In the opinion of the Board, all the assets other than property, plant and equipment and intengible assets and non-current investmentst have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

D) DEPRECIATION

Depreciation on fixed assets is provided on Written down value Method (WDV) at the rates and in the manner prescribed in Schedule II of the Companies Act, 2013.

E) INVESTMENTS

Investments which are readily realizable and intended to be held for not more than one year from the date on which such investments are made are classified as current investments. All other investments are classified as long term investments.

F) IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit & Loss Account in the year in which an asset is identified as impaired.

G) VALUATION OF INVENTORIES

Company''s raw material are valued at cost, WIP has been values at cost incurred upto stage of production. The finished goods are valued at cost or net realisable value whichever is lower. GST has not been included in Purchase, Sales and Closing Stock. Materials and other supplies held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. However, when there has been a decline in the price of materials and it is estimated that the cost of the finished products will exceed net realisable value, the materials are written down to net realisable value.

H) BORROWING COSTS

Borrowing costs that are attributable to the acqusition or construction of qualifying assets are capitialised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to profit & loss A/c.

I) RETIREMENT BENEFITS

Retirement benefit in the form of provident fund is a defined contribution scheme. The contribution to the provident fund is charged to the statement of profit and loss for the year when an employee renders the related services. The company has no obligations, other than the contribution payable to the provident fund. Provision for leave encashment has not been made in the accounts. Provision for bonus and gratuity are not made on accrual basis but are booked on actual payment basis.

J) PROVISION FOR CURRENT & DEFERRED TAX

Provision for current tax is made after taking into consideration benefit addmissible under the provision ofthe Income Tax Act 1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that have been enacted or substantively enacted as on balance sheet date.

TAXATION Deferred tax Liabilities has been provided for as per AS-22 issued by The Institute of Chartered Accountants of India. W.D.V as per Books of Accounts	64,68,279
W.D.V as per Income Tax	69,89,642
Timing Difference	(5,21,363)
Deferred Tax Liability/(Assets) @ 26%	(1,35,554)
Less: Opening Provision	(1,37,858)
Deferred Tax Liability	2,304

K) FOREIGN EXCHANGE GAIN OR LOSS

The Company has recognised foreign exchange gain or loss as per the AS- 11 issued by the ICAI.

L) PROVISIONS,CONTINGENT LIABILITIES AND CONTINGENT ASSETS.

A provision is recognised when present obligation as a result of past event & it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Contingent libilities are not recognised in the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.

M) OPERATING CYCLE.

An operating cycle is the time between the acquisition of assets for processing and their realisation in cash or cash equivalents. The normal operating cycle of the company having duration of Two to three month.

N) GST

The assessee has followed exclusive method of accounting. So, GST has not been included in revenue, expense and closing stock and fixed assets to the extent of eligible credit under GST laws.

O) CORPORATE SOCIAL RESPONSIBILITY

N.A.

P) Relationship with Struck off Companies

The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or Section 560 of Companies Act, 1956 considering the information available with the Company.

Q) Registration of charges or satisfaction with Registrar of Companies

No charge or satisfaction which is yet to be registered with registrar of companies beyond the statutory period except modification of charge created by Axis bank (From 7.5 Cr to 5 Cr.).

R) Compliance with number of layers of companies

The Company do not have any parent company and 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 is not applicable for the year under consideration.

S) Utilisation of Borrowed funds and share premium:

No such transactions.

(T) Undisclosed income

The company is does not have any transaction 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), unless there is immunity for disclosure under any scheme.

(U) Details of Crypto Currency or Virtual Currency

The Company did not trade or invest in Crypto Currency or virtual currency during the financial year. Hence, disclosures relating to it are not applicable.

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Mar 31, 2024

(a) The aforesaid financial results have been reviewed by the audit committee and subsequently approved by the board of directors at its meeting held on - 24th May,2024

(b) The standalone financial results for the year ended March 31,2024 were audited by the statutory auditors of the company.

(c) Previous period''s/ year''s figures have been regrouped/ rearranged wherever necessary, to confirm to the current half year''s/ year''s classification.

1. SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Preparation of Financial Statements:

The financial statements have been prepared on the historical cost convention and in accordance with normally accepted accounting principles.

(b) Property, Plant and Equipment:

Property, Plant and Equipments are carried at cost of acquisition less accumulated depreciation.

Property, Plant and Equipment are stated at cost less accumulated depreciation and impairment loss, if any. All costs, including financing costs till the date on which the asset is
put to use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the fixed assets are capitalised.

In case of assets, whose useful life has been complete as prescribed in Schedule-II of the Companies Act, 2013, the difference between the opening WDV and its residual value is
recognised in the opening balance of retained earnings.All other repairs and maintenance expenses are charged to the Statement of Profit and Loss during the period in which
they are incurred.

(c) Depreciation:

Depreciation on fixed assets is provided on Written down method at the rates and manner prescribed in Schedule II of the Companies Act, 2013. Depreciation is provided based
on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

(d) Investments:

Investment which are readily realizable and intended to be held for not more than one year from the date on which such investments are made, are classified as current
investments. All other investments are classified as long term investment.

On initial recognition, all investments are measured at cost. The cost comprises price and directly attributable acquisition charges such as brokerage, fees and duties.

Current investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis. Long term investments are carried at
cost. However, provision for dimunition in value is made to recognize a decline other than temporary in the value of investments. On disposal of investment, the difference
between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss account.

(e) Inventories:

⁽ⁱ⁾ Raw materials and other consumables are valued at cost on FIFO basis.

(ii) Trading goods are valued at cost or net realizable value whichever is less.

(iii) Finished Goods are valued at cost or net realizable value whichever is less.

(f) Recognition of Income & Expenditure:

All Incomes & Expenditures are accounted on accrual basis except Bonus and gratuity. They are accounted when they are declared and paid by management to the
employees.

(g) Borrowing Cost:

Borrowing costs that are attributable to the acquisition and construction of qualifying fixed assets are capitalized as part of cost of such asset till such time the asset is ready for its
intended use. All other borrowing costs are charged to the Profit & Loss Account.

(h) Accounting for Taxation:

Income tax expense represents the sum of the ''current tax and deferred tax.

Current Tax

The current tax payable is based on taxable profit ''for the year. The Company’s current tax is calculated using tax rates that have been enacted by the end of the reporting
period.

Deffered Tax

Accounting for Deferred Tax Assets has been made in accordance with AS-22 which arises on account of timing difference other than permanent timing difference.

(i) Export Incentives

Export incentives in form of GST Refunds, Duty Drawback and Duty Free Entitlement certificates are recorded in books on accrual basis.

(j) Employee Benefits

Retirement benefit in the form of provident fund is a defined contribution scheme. The contribution to the provident fund is charged to the statement of profit and loss for the year
when an employee renders the related services. The company has no obligations, other than the contribution payable to the provident fund. Provision for leave encashment
has not been made in the accounts. Provision for bonus and gratuity are not made on accrual basis but are booked on actual payment basis.

(k) Earning Per Share

Basic earning per share is calculated by dividing the net profit or loss for the period attributable to the equity shareholders by the weighted number of equity shares outstanding
during the period. The weighted average ''number of equity shares outstanding during the period and for all the periods presented is adjusted for events, such as bonus shares,
that have changed the number of equity shares outstanding, without a corresponding change in resources.