Shree Marutinandan Tubes Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

s. Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which are liable estimate can be made. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are recognized only when there is a possible obligation arising from past events, not wholly within the control of tine Company, or where any present obligation cannot be measured in terms of future outflow of resources of or where reliable estimate cannot be made. Obligations are assessed on going concern

B. Terms/ rights attached to shares: i. Equity Shares

The company has Equity shares having par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. Any shareholder whose name is entered in to Register of Members of the company shall enjo\ the same rights and subject to the same liabilities as all other shareholders of the same class.

In the event of liquidation of the company, the holder of Equity Shares will be entitled to receive remaining assets of the companv, after distribution of all preferential amounts. The distribution will be in the proportion to the no. of equity shares held by the share holder.

-The company has availed credit facility of Rs. 58.81 lakhs as GECl. Loan at Interest Rate of 9.25 % from Indusland Bank. lire facility is secured against mortgage of property repayable in 36 equal monthly principal payments starting from 30.09.2021.

**Thc company has availed credit facility of Rs. 20.18 lakhs as Vehicle Loan at Interest Rate of 7.20 % from Indusland Bank I he facility is secured against the hypothication of Vehicle repayble in 60 equal monthly instalments starting from 05.04 2022

"1 he company has availed credit facility of Its 8.07 lakhs as Vehicle Loan at Interest Rate of 9.60 % from Indusland Bank. The facility is secured against the hypothication of Vehicle repayble in 39 equal monthly instalments starting from 05.04.2024.

¹ Current Assets, l oan, fr Advances and l

In the opinion of the Board, the value of reaction of

advances, if realized in the ordinary course of the bl? h T*'' ^ ^&

than the amount, which is stated, in the current year balance Sheef The

- * excess of the

ii- Directors Remuneration:

During the year under consideration, the company has paid director remuneration of Rs. 30.00 lakhs.

iii. Disclosure Requirement for Sundry Creditors Covered Under MSME Act, 2006:

As informed by the management, the Company has circulated confirmation for the identification of suppliers registered under the Micro, Small and Medium Enterprises Development Act, 2006.

The company has disclosed the amounts unpaid, if any as at the yearend together with interest paid/payable relating to the suppliers from whom confirmation regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 is obtained.

iv. Rounding Off

Figures have been rounded off to lakhs.

v. Previous Year''s Figures:

Previous years'' figures have been recast so as to make them comparable with current year''s figures.

Provision foi current tax is made after taking into consideration benefits admissible under the provisions of Income-tax Act, 1961. Deferred tax resulting from timing difference between book and taxation profit is accounted for using the tax rates and laws that have been enacted or substantively enacted on the date of balance sheet. The deferred tax asset and liabilities are recognized and carried forward only to the extent that there is reasonable certainty that the assets will be realized in future.

25. EXCEPTIONAL ITEMS

Exceptional Items of Rs. 3.41 lakhs represents the net impact of profit on sale of motor car.

26. UTILIZATION OF IPO PROCEEDS

The Company''s equity shares were listed on the BSE Limited SME Board on 19* January, 2024 by completing the Initial Public Offering (IPO) of 10,00 000 euuitv shares of face value of Rs. 10 each at an issue price of Rs. 143 per equity share

(including share premium of Rs. 133 per share), consisting of fresh issue nf 10,00,000 equity shares. ⁶ sn issue of

The total IPO expenses incurred of Rs. 61.32 lakhs fexcludW _x . ,

adjusted against securities premium (Refer Note 3). ^ ^{8 taxes}> ^{has bee}"

j petails of Crypto Currency

Company has not traded or invested in Crypto currency or Virtual Currency during

the financial year.

32. Additional Regulatory Information

i. Registration of Charges:

There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

ii. Compliance with Number of Layers of Companies:

Since the Company does not have any holding/subsidiary, thus the clause is not applicable.

iii. Relationship with Struck off Companies:

There are no transactions and balance outstanding to and from any struck off companies as on the balance sheet date.

iv. Willful Defaulter:

Company is not declared willful defaulter by any bank or financial Institution or other lender.

v. Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

vi. Utilization of Borrowed funds and share premium:

a. Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the (Ultimate Beneficiaries) or (ii) provide any guarantee, securitv or thp on behalf of the Ultimate Beneficiaries the company. ^ e to or

_b. Company has not received any fund from any person(s) or entity(ies) including foreign entities (Funding Party) with the understanding (whether recorded m writing or otherwise) that the company shall (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

33. GST RECEIVABLE

The Goods & Service Tax Credit taken in the books of Accounts have been verified with the Purchases made during the year, however the balances of GST Credit Brought Forward and GST Credit Carried Forward are subject to confirmation as annual return for GST and the GST Reconciliation are finalized after the date of the Audit Report.

For, S K Jha & Co. For and on behalf of Board of Directors

Chartered Accountants Shree Marutinandan Tubes Limited

FRN: 126173W ____ .

W''

Nikhil Makmja V- Vikram S Sharma Bharat S Sharma

Partner Managing Director Director

M.No.: 176178 DIN.06452273DIN: 06466395

UDIN: 24176178BKDZGD8854

Dj^^T

CrO Company Secretary

PAN: CTAPK2250B PAN: FGFPM2861B

Date: 30.05.2024 Date: 30.05.2024

Place: Ahmedabad Place: Ahmedabad

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Mar 31, 2023

All Contingent Liabilities assessed by the board and based on the expert''s opinion are disclosed as below:

Name of Statute	Nature	Period (FY)	Amount of Tax	Forum where Dispute is Pending
SGST Act	GST	2019-20	3,05,402	SGST Deputy Commissioner

B. Terms/rights attached to shares: i. Equity Shares

The Company''s Equity shares having par value of Rs.10/- per share. Each holder of equity shares is entitled o one vote per share. Any shareholder whose name is entered in to Register of Members of the company . enjoy the same r.ghts and subject to the same liabilities as all other shareholders of the same class.

In the event of liquidation of the company, the holder of Equity Shares will be entitled to receive remaining

ssets of the company, after distribution of all preferential amounts. The distribution will be in the proportion to the no. of equity shares held by the share holder. proportion

As per records of the Company, including its register of shareholders/members and other declaration received from the shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares. ⁶

*7 During the period of 5 years immediately proceeding the reporting date, the company has not issued any shares tor consideration other than cash, has not bought hack any shares and has not allotted any shares as iull\ paid-up by way of bonus shares.

*The company has availed credit facility of Rs. 58.81 lakhs as CECL. Loan at Interest Rate of 9.25 % from Indusland Bank. The facility is secured against mortgage of property repayable in 36 equal monthly principal payments starting from 30.09.2021.

** The company has availed credit facility of Rs. 20.18 lakhs as Vehicle Loan at Interest Rate of 7.20 % from Indusland Bank. The facility is secured against the hypothication of Vehicle repayble in 60 equal monthly instalments starting from 05.04.202Z * The company has availed credit facility of Rs. 501.00 lakhs as Cash Credit at Interest Rate of 10.42% from Indusland Bank. The credit facility is secured against the hypothication of stock & book debts.

22. SIGNIFICANT NOTES.

''¦ Current Assets, Loans & Advances and Liabilities:

In the opinion of the Board, the value of realization of current assets loans &

th.mrtT'' ¹¹ realized m ^{the ordm}‘"-V course of the business, shall not be less than the amount, which is stated, in the current year Balance Sheet S provrston for all known l.ab,litres is reasonable and no, n, excess of fte amount considered reasonably necessary.

ii- Directors Remuneration:

During the year under consideration, the company has paid director remuneration of Rs. 14,00,000. ^{h }} uircctoi

^UL Requirement for Sundry Creditors Covered tw.. mc»_r ...

for ''the''identificaHo ^C°^{mpany has circulated} confirmation

the identification of suppliers registered under the Micro, Small and

Medium Enteiprises Development Act, 2006.

iv. Rounding Off

Figures have been rounded off to lakhs. ^v- Previous Year''s Fignrps-

24. DEFERRED TAX ASSETS/ LIABILITIES

after taking into consideration benefits

admissible under the provisions of Income-tax Act, 1961. Deferred tax resulting

27. Undisclosed Income

There are no transactions 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.

28. Corporate Social Responsibility

Tire company is not covered under section 135 of The Companies Act, 2013.

29. Details of Crypto Currency

Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

30. Additional Regulatory Information

i. Registration of Charges:

There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

ii. Compliance with Number of Layers of Companies:

Since the Company does not have any holding/subsidiary, thus the clause is not applicable.

iii. Relationship with Struck off Companies:

There are no transactions and balance outstanding to and from any struck off companies as on the balance sheet date.

iv. Willful Defaulter:

Company is not declared willful defaulter by any bank or financial Institution or other lender.

v. Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in

terms of sections 230 to 237 of the Companies Act, 2013.

vi. Utilization of Borrowed funds and share premium:

a. Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intel median’ shall (i) directly or indirectly lend or invest in other persons or entities identified in any maimer whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries the company.

b. Company has not received any fund from any person(s) or entity(ies), including foieign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of die Funding Party (Ultimate Beneficiaries) or (ii) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

I. Increase in profit has resulted into improvement in Debt Equity Ratios and Debt Service Coverage Ratios.

II. During the year, gross margin of the company has increased which has resulted into

good profit and improvement in Return of Equity Ratio, Net Profit Ratio and Return on Capital Employed.

IH. Due to maintenance of higher inventory as compare to previous year the Inventory ratio is impacted as compare to previous years.

IV. Increase in working capital has resulted into decrease in Net Capital Turnover Ratio as compared to previous years.

31. GST RECEIVABLE