Pushpsons Industries Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

k. Provisions, contingent liabilities and contingent assets

The Company recognizes a provision when there is a present obligation as a result of a past event that
probably requires an outflow of resources and a reliable estimate can be made of the amount of the
obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. Where there is a possible obligation or
a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is
made.

Contingent assets are disclosed where an inflow of economic benefits is probable.

l. Earning per share

The Company presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic
EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by
the weighted average number of ordinary shares outstanding during the period. Diluted EPS is determined
by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of
ordinary shares outstanding for the effects of all dilutive potential ordinary shares.

24 Additional Regulatory information pursuant to changes in Schedule III

i No proceedings has been initiated or pending against the Company for holding any benami property under
the Benami Transactions (Probihition) Act, 1988 (45 of 1988) and rules made thereunder.

ii The Company has not been declared as wilfull deaulter by any bank or financial institution or other lender.

iii The company does not have any transaction with companies struck off under section 248 of the Companies
Act,2013 or section 560 of the Companiesa Act, 1956, during the current year and in the previous year.

iv There are no transactions which has been surrendered or disclosed as income during the year in the tax
assessment under Income Tax Act, 1961.

v There are no charges or satisfaction to be registered with Registrar of Companies.

vi As provision to Rule 3(1) of the Companies (Accounts) Rules, 2014 (as amended), which provides for books
of account to have the feature of audit trail, edit log and related matters in the accounting software used
by the Company, is applicable to the Company only with effect from financial year beginning April 1, 2023,
the reporting under clause (g) of Rule 11 of the Companies (Audit and Auditors), Rules, 2014 (as amended),
is currently not applicable.

25 Fair value hierarchy

Financial instrument measured at amortised cost

The carrying amount of financial assets and liabilities measured at amortised cost in the financial statements
are a reasonable approximation of their fair values since the Company does not anticipate that the carrying
amounts would be significantly different from the values that would eventually be recieved or settled.

Financial risk management

The Company''s financial liabilities comprise mainly of borrowings, trade payables and other payables. The
Company''s financial assets comprise mainly of investments, cash and cash equivalents, other balances with
banks, loans, trade receivables and other receivables.

The Company is exposed to market risk,credit risk and liquidity risk. The board of directors (''Board'') have overall
responsible for establishment and oversight of the Company''s risk managment framework. The Company
follows the Holding company''s risk managment framework which seeks to identify, assess and mitigate financial
risks in order to minimize potential adverse effects on the Company''s financial performance.

The following disclosures summarize the Company''s exposure to financial risks and information regarding use
of derivatives employed to manage exposures to such risks. Quantitative sensitivity analysis have been provided
to reflect the impact of reasonably possible changes in market rates on the financial results, cash flows and
financial position of the Company.

1) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market risk comprises three types of risks: interest rate risk, currency risk and
other price risk. Financial instruments affected by market risk includes borrowings, investments, trade
payables, trade receivables, loans and derivative financial instruments.

(a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The Company''s primarily total debt obligation with fixed
interest rate, therefore a change in interest rate at the reporting date would not effect the profit & loss.

(b) Foreign currency risk

The company''s primary business activities are within India therefore it does not have any exposure in
foreign currency.

2) Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The
maximum exposure of the financial assets are contributed by cash and cash equivalents.

Cash and Bank balance

Credit Risk on cash and cash equivalent, deposits with the banks / financial institutions is generally low as the
said deposits have been made with the banks / financial institutions who have been assigned high credit rating
by international and domestic rating agencies.

3) Liquidity risk

Liquidity is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
a reasonable price. The Company''s treasury department is responsible for liquidity, funding as well as settlement
management. In addition, processes and policies related to such risks are overseen by senior management.
Management monitors the Company''s net liquidity position through rolling forecasts on the basis of expected
cash flows.

26. Capital management

For the purpose of the Company''s capital management, capital includes issued capital and all other equity
reserves attributable to the equity shareholders of the Company. The primary objective of the Company when
managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital
structure so as to maximize shareholder value.

As at March 31, 2024, the Company has only one class of equity shares and has moderate debt. Consequent
to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve
an optimal capital structure, the Company allocates its capital for distribution as dividend or re-investment into
business based on its long term financial plans. Consistent with others in the industry, the Company monitors
its capital using the gearing ratio which is total debt divided by total capital.

In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to
ensure that it meets financial covenants attached to the borrowings that define the capital structure requirements.

27. Contingent Liabilities

i) NIL

ii) Three past employees of the Company has filed case before labour court by creating false documents
against our company. The Company is contesting the matters and is of the belief that the matters will be
decided in our favour and therefore no amount has been ascertained and provided in the books of
accounts.

30. During the year the Company has only one reportable segment i.e. Export of Carpet and Made- up in accordance
with the accounting standards on segment reporting.

31. No provision for Income Tax and Minimum Alternate Tax (MAT) on Book profits has been made in view of the
availability of unabsorbed depreciation and Section 115BAA of the Income Tax Act.

32. Deferred Tax: In view of the tax losses incurred by the Company during the earlier years, deferred tax assets
on timing differences and on unabsorbed depreciation and business losses have not been accounted for in the
books since it is not virtually certain that they will be realised against future profits.

33. Employees Benefits: The Company has provided liability of Gratuity actuarially determined amounting to Rs.
577.41 (thousand) (Previous Year Rs. 507.63 (thousand)).

i. Brief description of the plans

The Company provides long-term benefits in the nature of Provident fund and Gratuity to its employees.

The Company''s defined contribution plans are provident fund and employees'' pension scheme (under the
provisions of the Employees'' Provident Funds and Miscellaneous Provisions Act, 1952) since the Company
has no further obligation beyond making the contributions. The Company''s unfunded defined benefit plans
include gratuity benefit to its employees. The employees of the Company are also entitled to leave encashment
and compensated absences as per the Company''s policy. The Provident fund scheme additionally requires
the Company to guarantee payment of specified interest rates, for which shortfall if any has been provided
for as at the Balance Sheet date.

34. Micro and Small Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 have been
determined based on the confirmations received in response to intimation in this regard sent by the Company
to the suppliers. No Interest in terms of Section 16 of Micro, Small and Medium Enterprises Development Act,
2006 or otherwise either been paid or payable or accrued and remaining un paid at 31st March, 2024.

As per our attached report of even date

For Ritu Gupta & Co. For and on behalf of the Board

Chartered Accountants

Firm Registration Number 119890W Pankaj Jain Chairman (Director) (DIN : 00001923)

CA Ritu Gupta Dinesh Jain Managing Director (DIN : 00001912)

Proprietor

Membership Number 104077 Geeta Rawat Company Secretary (M. No. : A-40126)

New Delhi Sunil Bansal Chief Financial Officer

22nd May, 2024 (PAN : AICPB2569D)

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Mar 31, 2014

1. RELATED PARTIES DISCLOSURES :

A. Particulars of Associates Companies

Name of the Related Party Nature of Relationship

(i) Panipat Weaving & Processing Private Limited Associate Company

(ii) Pushpsons Fibrol Private Limited Associate Company

(iii) Pushpsons Balbro Private Limited Associate Company

(iv) Pushpsons International Associate Firm

B. Key Management Personnel

(i) Dr. M. R. Jain Director

(ii) Shri Pankaj Jain Executive Director

(iii) Shri Dinesh Jain Whole-time Director

2. During the year the Company has only one reportable segment i.e. Export of Made-up in accordance with the accounting standards on segment reporting.

3. No provision for Income Tax and Minimum Alternate Tax (MAT) on Book profits has been made in view of the availability of unabsorbed business loss and unabsorbed depreciation.

4. In accordance with Accounting Standard 22 ''Accounting for Taxes on income'' issued by the Institute of Chartered Accountants of India, the Company would have a net Deferred Tax asset. However, in view of the tax losses incurred by the Company during the current and earlier years, deferred tax assets on timing differences and on unabsorbed depreciation and business losses have not been accounted for in the books since it is not virtually certain that they will be realised against future profits.

5. Significant accounting policies adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2013

1. During the year the Company has only one reportable segment i.e. Export of Made- up in accordance with the accounting standards on segment reporting.

NOTES:

1. You are requested to sign and hand over the slip at the entrance.

2. If you intend to appoint a proxy to attend the meeting instead of yourself, duly filled proxy form must be deposited at the registered office of the Company at least 48 hours before the time fixed for holding the meeting.

3. Proxy need not be member of the Company.

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Mar 31, 2012

1. The company has only one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

2. The financial statements for the year ended 31st March, 2011 had been prepared as per then applicable pre- revised Schedule Vi to the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification.

3. During the year the Company has only one reportable segment i.e. Export of Made- up in accordance with the accounting standards on segment reporting.

4. Significant accounting policies adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2011

1. In the opinion of the management Current Assets, Loans and Advances are of the value stated, if realized in the ordinary course of business. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

2. The Cash Credit Limits from Indian Overseas Bank are secured by way of hypothecation of raw materials, work in progress, finished goods, and book debts and collateral security by equitable mortgage of factory land and building of the Company and personal guarantee of three directors.

3. Gratuity to employees who leave the service is charged to profit and loss account in the year in which payment is made.

4. Provision for Income tax has not been made, as the company does not expect any tax liability in view of brought forward unabsorbed depreciation and loss.

5. The Company has not received any information from "suppliers" regarding their status under the Micro, Small and Medium Enterprises (Development) Act, 2006 and hence, disclosure, if any, relating to amounts unpaid as at 31 st March 2011 together with interest paid / payable Micro Small and Medium Enterprises (Development) as required under the said Act have not been given.

6. The previous year's figures have been re-grouped wherever necessary to bring them in line with company's financial statement.

7. Segment reporting

Based on the guidelines in Accounting Standard on segment reporting (AS-17), the company's primary business segment is manufacture of made ups which are governed by the same set of risk and returns and therefore, segment reporting is not applicable.

8. Related Parties Disclosures :

A. Particulars of Associates Companies

Name of the Related Party Nature of Relationship

(i) Panipat Weaving & Processing Private Associate Company Limited

(ii) Pushpsons Fibrol Private Limited Associate Company

(iii) Pushpsons Balbro Private Limited Associate Company

(iv) Pushpsons International Associate Firm

B. Key Management Personnel

(i) Dr. M. R. Jain Chairman & Managing Director

(ii) Shri Pankaj Jain Executive Director

(iii) Shri Dinesh Jain Wholetime Director

9. Additional information pursuant to the provisions of paragraphs 3, 4C and 4D and of the Schedule VI to the Companies Act, 1956 (As Certified by the Management).

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Mar 31, 2010

1. In the opinion of the management Current Assets, Loans and Advances are of the value stated, if realized in the ordinary course of business. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

2. The Cash Credit Limits from Indian Overseas Bank are secured by way of hypothecation of raw materials, work in progress, finished goods, and book debts and collateral security by equitable mortgage of factory land and building of the Company and personal guarantee of three directors.

3. Gratuity to employees who leave the service is charged to profit and loss account in the year in which payment is made.

4. Amortization of outstanding public issue expenses amounting of Rs. 32,30,269, deferred earlier have completely been written off during the year.

5. Provision for Income tax has not been made, as the company does not expect any tax liability in view of brought forward unabsorbed depreciation / Loss.

6. The Company has not received any information from "suppliers" regarding their status under the Micro, Small and Medium Enterprises (Development) Act, 2006 and hence, disclosure, if any, relating to amounts unpaid as at 31st March 2010 together with interest paid / payable Micro Small and Medium Enterprises (Development) as required under the said Act have not been given.

7. The previous years figures have been re-worked, re-grouped and re-classified, wherever necessary. The figures have been provided to the nearest of rupees.

8. Related Parties Disclosures :

A. Particulars of Associates Companies

Name of the Related Party Nature of Relationship

(i) Panipat Weaving & Processing Private Limited Associate Company

(ii) Pushpsons Fibrol Private Limited Associate Company

(iii) Pushpsons Balbro Private Limited Associate Company

(iv) Pushpsons International Associate Firm



B. Key Management Personnel

(i) Dr. M. R. Jain Chairman & Managing Director

(ii) Shri Pankaj Jain Executive Director

(iii) Shri Dinesh Jain Wholetime Director