Ravileela Granites Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

Leases

Except as specified below, the company has consistently applied the accounting policies to all periods presented in this financial statement. The company has applied Ind AS 116 with the date of initial application of 1st April, 2019. As a result, the company has changed its accounting policy for lease contracts as detailed below.

The company has applied Ind AS 116 using the modified retrospective approach, under which the cumulative effect of initial application is recognized in retained earnings at 1st April, 2019.

Note 8.1: The company does not have any raw materials/goods in transit as on the balance sheet date.

The inventory of the company is being valued on a weighted average cost basis inculding all relevant costs incurred during the financial year.

Note 12.2: Rights, preferences and restrictions attached to equity shares

The Company has one class of equity shares having a par value of Rs 10 per share.Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, 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 to their shareholding.

(i) The company has not issued any shares without payment being in cash.

(ii) There has been no issue of bonus shares or right shares.

(iii) The company has not undertaken any buy-back of shares.

(iv) The company has not reserved any shares for issue under options.

(v) The company has not entered into any contract or commitment for the sale of shares or disinvestment."

34 Disclosures Required By Indian Accounting Standard 19 - Employee Benefits Defined Contribution Plan

The Company has recognised, in the Statement of Profit and Loss for the current year, an amount of INR 11,28,191 (previous year INR 15,00,000 ) as expenses under the following defined contribution plan.

Defined Benefit Plan A) Gratuity

The Company provides for gratuity, a defined retirement benefits plan (the "Gratuity Plan") covering the existing employees. The plan provides to vest employees a lump sum amount based on the respective employee''s salary and the number of years of employment with the Company at the time of retirement or termination of employment. The Company determines its liability towards gratuity cost based on an actuarial valuation.

These plans typically expose the Company to actuarial risks such as: Investment Risk, Interest Risk, Longevity Risk and Salary Risk.

Investment risk : The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds.

Interest risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.

Salary risk: The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan’s liability.

The Company manages its capital to ensure that it will continue as going concern while maximising the return to stakeholders by optimising cost of capital through flexible capital structure that supports growth. The company manages its capital structure on the basis of annual operating plan and longterm strategic plans and makes adjustment in light of changes in business condition. The funding requirements are met through internal accruals and long-term/short-term borrowings. Further, it ensures optimal credit risk profile to maintain/enhance credit rating. The overall strategy remains unchanged as compare to last year.

Valuation Methodology

All financial Instruments are initially recognised and subsequently remeasured at fair value as described below:

a) The fair value of investments in quoted Equity Shares, Bonds and Mutual Funds is measured at quoted price or NAV.

b) All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

37.2 Financial Risk Management

The Company''s activities expose it to liquidity risk and credit risk. This note explains the sources of risks which the entity is exposed to and how it mitigates that risk.

a) Liquidity Risk

The entity manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. The Company''s principal sources of liquidity are cash & bank balances, credit facilities and cash generated from operations.

b) Credit Risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from receivables from customers, deposits with banks, foreign exchange transactions and other financial instrument. Credit risk is managed through credit approvals, monitoring the creditworthiness and establishing credit limits of customers to which it grants credit terms in the normal course of business. The entity establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses in respect of trade and other receivables and investments.

c) Currency Risk

The entity is subject to the risk that changes in foreign currency values impact the Company''s exports revenue and imports.As at 31st March, 2025, the unhedged exposure to the Company on financial assets (trade receivables) and liabilities (trade payables) other than in their functional currency amounted to INR 20,79,82,772 and INR 1,31,73,764 respectively.

The Company monitors and manages its financial risks by analysing its foreign exchange exposures. The Company, in accordance with its Board approved risk management policies and procedures, enters into foreign exchange forward contracts to manage its exposure in foreign exchange rates.

38 Details of Benami Property held

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

39 Disclosure of quarterly returns filed with the banks:

The quarterly returns or statements filed by the company with banks or financial institutions are in agreement with the books of accounts except for

1. Difference in Quantity of 1 slab in Raw Material Granite Raw Blocks

2. Difference in Price of Rs. 35,610.52

40 Wilful Defaulter

The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

41 Relation with the stuck off companies

Based on the information available with the Company, the Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

42 Registration of charges or satisfaction with the ROC

One of the charges created in favour of Union Bank of India has been fully satisfied. However, the satisfaction of charge has not yet been filed with the Registrar of Companies as on the balance sheet date. The Company is in the process of completing the necessary formalities for the same.

43 Compliance with number of layers of companies

Where the company is in 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.

44 Details in respect of utilisation of borrowed funds and share premium shall be provided in respect of:

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:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

45 Compliance with approved scheme of arrangements

The Company has not entered into any scheme of arrangements.

46 Undisclosed Income

The Company does not have any transaction not recorded in the books of accounts- surrendered or disclosed as income during the year in tax assessments.

47 Details of Loans Given, Investments Made, Guarantees given and Securities provided during the year covered under Section 186 (4) of the Companies Act, 2013

The Company has not given any loans, guarantees, securities or made any investments during the year within the meaning of section 186(4) of the Companies Act, 2013.

48 Segment Reporting

IND AS 108 - Operating Segments is not applicable to the entity

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Mar 31, 2024

(o) Provisions

Provisions are recognised when the Company has a present obligation

(legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability.

(p) Contingent Assets and Liabilities

Disclosure of contingent liability is made when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources embodying economic benefits will be required to settle or a reliable estimate of amount cannot be made.

Contingent assets are not recognised in the financial statements since this may result in the recognition of income that may never be realised. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and is recognised.

(q) Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period. Partly paid equity shares are treated as a fraction of an equity share to the extent that they are entitled to participate in dividends relative to a fully paid equity share during the reporting period. The weighted average number of equity shares outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, share split, and reverse share split (consolidation of shares) that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares."

(h) Investments

The Company has accounted for its investments in Subsidiaries, associates and joint venture at cost less impairment loss (if any). The investments in preference shares with the right of surplus assets which are in nature of equity in accordance with Ind AS 32 are treated as separate category of investment and measured at FVTOCI.

All other equity investments are measured at fair value, with value changes recognised in Statement of Profit and Loss, except for those equity investments for which the Company has elected to present the value changes in ‘Other Comprehensive Income''. However, dividend on such equity investments are recognised in Statement of Profit and loss when the Company''s right to receive payment is established.

Other Accounting Policies

(a) Impairement

(a.1) Impairment of Financial Assets

All financial assets are recognized initially at fair value (plus in the case of financial assets not recorded at fair value through profit or loss (FVTPL), transaction costs that are attributable to the acquisition of the financial asset). However, trade receivables that do not contain a significant financing component are measured at transaction price.

Financial assets, other than those at FVTPL, are assessed for indicators of impairment at the end of each reporting period. In case of financial assets, the Company follows the simplified approach permitted by Ind AS 109 -Financial Instruments - for recognition of impairment loss allowance. The application of simplified approach does not require the Company to track changes in credit risk of trade receivable. The Company calculates the expected credit losses on trade receivables using a provision matrix on the basis of its historical credit loss experience.

(a.2) Impairment of Non-Financial Assets

Impairment of Non-Financial Assets - Property, Plant and Equipment and Intangible Assets:

At each balance sheet date, the Company assesses whether there is any indication that any property, plant and equipment and intangible assets with finite lives may be impaired. If any such impairment exists the recoverable amount of an asset is estimated to determine the extent of impairment, if any. Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.Intangible assets not yet available for use, are tested for impairment annually at each balance sheet date, or earlier, if there is an indication that the asset may be impaired"

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset (or cash generating unit) for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of Profit and Loss.

(b) Non-current Assets Held for Sale

Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and sale is considered highly probable.

A sale is considered as highly probable when decision has been made to sell, assets are available for immediate sale in its present condition, assets are being actively marketed and sale has been agreed or is expected to be concluded within 12 months of the date of classification. Non-current assets held for sale are neither depreciated nor amortised.

Assets and liabilities classified as held for sale are measured at the lower of their carrying amount and fair value less cost of disposal and are presented separately in the Balance Sheet.

Assets and liabilities classified as held for sale are measured at the lower of their carrying amount and fair value less cost of disposal and are presented separately in the Balance Sheet.

5 Leases

The company has consistently applied the accounting policies to all periods presented in this financial statement. The company has applied Ind AS 116 with the date of initial application of 1st April, 2019. As a result, the company has changed its accounting policy for lease contracts as detailed below.

The company has applied Ind AS 116 using the modified retrospective approach, under which the cumulative effect of initial application (if any) is recognized in retained earnings at 1st April, 2019.

37 Defined Benefit Plan a) Gratuity

The Company provides for gratuity, a defined retirement benefits plan (the "Gratuity Plan") covering the existing employees. The plan provides to vest employees a lump sum amount based on the respective employee''s salary and the number of years of employment with the Company at the time of retirement or termination of employment. The Company determines its liability towards gratuity cost based on an actuarial valuation.

The principal actuarial assumptions used in determining gratuity obligation for the Company’s plans are made by M/s. Hanumantha Rao and Associates, Hyderabad shown below:

g) Sensitivity Analysis

The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant.The result of Sensitivity analysis is given below:

These plans typically expose the Company to actuarial risks such as: Investment Risk, Interest Risk, Longevity Risk and Salary Risk.

Investment risk : The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds.

Interest risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s liability.

Salary risk: The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan''s liability.

38 Leave Encashment

The principal actuarial assumptions used in determining leave encashment obligation for the Company''s plans are made by M/s. Hanumantha Rao and Associates, Hyderabad shown below:

The Company manages its capital to ensure that it will continue as going concern while maximising the return to stakeholders by optimising cost of capital through flexible capital structure that supports growth. The company manages its capital structure on the basis of annual operating plan and long-term strategic plans and makes adjustment in light of changes in business condition. The funding requirements are met through internal accruals and long-term/short-term borrowings. Further, it ensures optimal credit risk profile to maintain/enhance credit rating. The overall strategy remains unchanged as compare to last year.

The Company''s activities expose it to liquidity risk and credit risk. This note explains the sources of risks which the entity is exposed to and how it mitigates that risk.

a) Liquidity Risk

The entity manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. The Company''s principal sources of liquidity are cash & bank balances, credit facilities and cash generated from operations.

b) Credit Risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from receivables from customers, deposits with banks, foreign exchange transactions and other financial instrument. Credit risk is managed through credit approvals, monitoring the creditworthiness and establishing credit limits of customers to which it grants credit terms in the normal course of business. The entity establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses in respect of trade and other receivables and investments.

c) Currency Risk

The entity is subject to the risk that changes in foreign currency values impact the Company''s exports revenue and imports.As at 31st March, 2024, the unhedged exposure to the Company on financial assets (trade receivables) and liabilities (trade payables) other than in their functional currency amounted to INR 11,57,14,351 and INR 1,18,89,494 respectively.The Company monitors and manages its financial risks by analysing its foreign exchange exposures. The Company, in accordance with its Board approved risk management policies and procedures, enters into foreign exchange forward contracts to manage its exposure in foreign exchange rates.

43 Details of Benami Property held

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

44 Disclosure of quarterly returns filed with the banks:

The quarterly returns or statements filed by the company with banks or financial institutions are in agreement with the books of accounts except for difference in Quantity of 5,919 in Sq ft and in price by 12.17 Lakhs

45 Wilful Defaulter

The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

46 Relation with the stuck off companies

Based on the information available with the Company, the Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

47 Registration of charges or satisfaction with the ROC

The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies (''ROC'') beyond the statutory period.

48 Details in respect of utilisation of borrowed funds and share premium shall be provided in respect of:

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:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

49 Compliance with approved scheme of arrangements

The Company has not entered into any scheme of arrangements.

50 Undisclosed Income

The Company does not have any transaction not recorded in the books of accounts- surrendered or disclosed as income during the year in tax assessments.

51 Details of Loans Given, Investments Made, Guarantees given and Securities provided during the year covered under Section 186 (4) of the Companies Act, 2013

The Company has not given any loans, guarantees, securities or made any investments during the year within the meaning of section 186(4) of the Companies Act, 2013.

As per our Report of even date For and on behalf of the Board of Directors of

For K Vijayaraghavan & Associates LLP Ravileela Granites Limited

Chartered Accountants

Firm Registration No.: 004718S/S200040 Sd/_-

P. Samantha Reddy

^Sd/- Whole-time Director & CFO

K. ^Rag^unathan DIN: 00141961

Partner

Membership No.: 213723

UDIN:24213723BKDIFZ3281 Sd/-

P.Srinivas Reddy

Place: Hyderabad Director

Date:30-05-2024 DIN: 00359139

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Mar 31, 2014

1. Balances of Trade Receivables and Trade Payables are subject to confirmation.

Note: The Company has not provided the post employment benefits as per the norms prescribed in the Accounting Standard 15, but an estimated provision is made in the books of accounts. The effect on the profit cannot be ascertained since sufficient information is not available.

2. Capital Commitments not provided (Net of Advances) as at 31st March, 2014 -Nil - (Prev.Year - Nil)

3. Figures of the previous year have been regrouped wherever considered necessary to conform to those of the current year.

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Mar 31, 2013

1. The Company was declared a Sick Industrial company in terms of Sec.3(1)(o) of the Sick Industrial Companies ( Special provisions) Act, 1985 by the Board for Industrial and Financial Reconstruction on 23.6.2011. The Board for Industrial and Financial Reconstruction(BIFR) has sanctioned a revival scheme vide its Order dated 18.10.2013 envisaging the Cut- off date as 31.3.2012 and the Period of the Scheme to be for the period 1.4.2012 to 31.3.2017, based on the proposal made by the Company.

Based on recommendations made under the Scheme the following measures have been taken

I. Share Capital

a) The Company''s Equity Share Capital has been de-rated from Rs.10,16,69,000/-to Rs.4,06,67,600/-.lnterest free Unsecured Loans from promoters to the extent of Rs.6.50 corers have been converted into equity at Rs.10/- per Equity Share as a result of which the Company''s Share Capital after issuance the fresh issue stands at Rs.10,56,67,600/- . The corresponding changes in percentage of Shareholding is reflected hereunder -

II. BIFR has further granted the following Reliefs and Concessions -

a) Waiver of Damages levied by PF Department -

The Company received a demand for Rs.49.34 Lakhs towards PF damages u/s.14B of the Provident Fund Act for the period up to March,2009. As the Company has preferred an appeal before the Regional Provident Fund Commissioner, Hyderabad for waiver and the same is pending before the said authorities, the said amount has been reflected under Contingent Liabilities. BIFR in its Order has recommended to the concerned authorities to consider the waiver of the above damages of Rs.49.34 Lakhs.

b) Waiver of Interest levied by Customs and Central Excise-

The Company has received a demand for Rs.6,13,618 being Interest & damages by the Commissioner of Customs and Central Excise & Service Tax, Hyderabad - IV, towards Non payment of Service Tax on Transportation Charges for the period November'' 2006 to September 2011. The Company has preferred an Appeal to the said authority for waiver of the Interest and damages and the matter is pending before the authorities. BIFR in its Order has recommended to the concerned authorities to consider the waiver of the above damages of Rs.6.13 Lakhs. Hence the disclosure under Contingent Liability is no longer required.

c) Exemption from SEBI Guidelines -

BIFR in its Order has recommended to SEBI to consider exemption from Takeover guidelines and Preference issue guidelines at the time of issuing further shares to promoters and outsiders and to devalue the shares of the promoters and other Investors at 60% of the face value of share. The Board further recommended SEBI to give such directions whereby SEBI ICDR guidelines / regulations are not applicable to the allotment of shares consequent upon conversion of Unsecured Loans and accordingly both the Capital i.e. existing equity as well as new equity shares proposed to be allotted as per the DRS be listed on the respective Stock Exchanges where the Shares of the Company are at present listed.

d) Bombay Stock Exchange to consider -

(i) To restore the listing of the Company & grant permission for trading in equity shares.

(ii) To allow to dematerialize the Shares of the Company

(iii) To consider to condone the delays in compliance of other obligations subject to payment of requisite fees and to consider waiver of penalties and not to impose any penalties or fines for listing of the shares or allowing the equity shares for trading.

e) Income Tax - interest on delayed payment of TDS Rs.108600

The Company has received a Notice from the Income Tax Officer Ward -15(1) on 16.1.2013, for an amount of Rs.4,11,021/- U/S 201(1) and 201(1A) of the Income Tax Act,1961, for delayed payment of TDS, out of which relief was granted by BIFR against an amount of Rs.1,08,600/- . The Company has paid the balance amount of Rs.2,98,463/- the details of which have been furnished to the Income tax Department and the matter is pending with the department for resolving the difference amount

2. Balances of Trade Receivables and Trade Payables are subject to confirmation.

3. The disclosures required under Accounting Standard 15 "Employee Benefits" notified in the Companies (Accounting Standards) Rules 2006, are given below;