Click it and Unblock the Notifications
Notes to Accounts of Kamadgiri Fashion Ltd.
Mar 31, 2025
XIII. Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event and
it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.
If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows
to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of
money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognised in the Statement of
Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best
estimate.
A present obligation that arises from past events where it is either not probable that an outflow of resources will be required
to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are
also disclosed 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.
Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as
contingent liabilities.
Contingent assets are not recognised in financial statements.
XIV. Borrowing costs
General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying
asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale.
Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale.
Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets
is deducted from the borrowing costs eligible for capitalisation. Other borrowing costs are expensed in the period in which they
are incurred.
XV. Segment Reporting
An operating segment is a component of the Company that engages in business activities from which it may earn revenues
and incur expenses, whose operating results are regularly reviewed by the companyâs chief operating decision maker (CODM)
to make decisions for which discrete financial information is available Based on the management approach as defined in Ind
AS 108, the chief operating decision maker evaluates the Companyâs performance and allocates resources based on an
analysis of various performance indicators by geographic segments.
XVI. Government Grants
Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be
received and the Company will comply with all attached conditions. Government grants relating to income are deferred and
recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate
and presented within other income.
Government grants relating to the purchase of property, plant and equipment are included in non-current liabilities as deferred
income and are credited to profit or loss on a straight-line basis over the expected lives of the related assets and presented
within other income.
Government grants relating to an expense item are recognised in the Statement of Profit and Loss by way of a deduction to
the related expense on a systematic basis over the periods that the related costs, for which it is intended to compensate, are
expensed.
XVII. Earnings per share
Basic earnings per share
Basic earnings per share is calculated by dividing:
- the profit attributable to owners of the company
- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in
equity shares issued during the year
Diluted earnings per share
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:
- the after-income tax effect of interest and other financing costs associated with dilutive potential equity
- the weighted average number of additional equity shares that would have been outstanding assuming the conversion
of all dilutive potential equity shares.
XVIII. Cash and cash equivalents
Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which
are subject to an insignificant risk of changes in value. Cash and cash equivalents in the Balance Sheet comprise cash at
bank and in hand and short-term deposits with banks having original maturity of three months or less which are subject to
insignificant risk of changes in value.
XIX. Cash Flow Statement
Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of
a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or
expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities
of the Company are segregated based on the available information.
Significant accounting judgements, estimates and assumptions
The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS
requires the management of the Company to make estimates and assumptions that affect the reported balances of assets
and liabilities, disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts
of income and expense for the periods presented.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimates are revised and future periods are affected.
Key sources of estimation of uncertainty at the date of the financial statements, which may cause a material adjustment to
the carrying amounts of assets and liabilities within the next financial year, are in respect of impairment of non-current assets,
useful lives of property, plant and equipment, valuation of deferred tax assets, provisions and contingent liabilities and fair
value measurement.
a) Impairment of financial assets
Trade receivables are stated at their normal value as reduced by appropriate allowances for estimated irrecoverable
amounts. Individual trade receivables are written off when management deems them not collectable. Impairment is
made on the expected credit loss model, which is the present value of the cash shortfall over the expected life of the
financial assets. The impairment provisions for financial assets are based on assumption about the risk of default and
expected loss rates. Judgement in making these assumptions and selecting the inputs to the impairment calculation are
based on past history, existing market condition as well as forward looking estimates at the end of each reporting period.
b) Impairment of non - financial assets
Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which
is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation
is based on available data from binding sales transactions, conducted at armâs length, for similar assets or observable
market prices less incremental costs for disposing of the asset. The value in use calculation is based on a Discounted
Cash Flow (âDCFâ) model. The cash flows are derived from the budget for the next five years and do not include
restructuring activities that the Company is not yet committed to or significant future investments that will enhance
the assetâs performance of the Cash Generating unit (âCGUâ) being tested. The recoverable amount is sensitive to
the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for
extrapolation purposes. These estimates are most relevant to disclosure of fair value of investment property recorded
by the Company.
c) Useful lives of property, plant and equipment and intangible assets
The Company reviews the useful life of property, plant and equipment and intangible assets at the end of each reporting
period. This reassessment may result in change in depreciation/ amortisation expense in future periods.
d) Valuation of deferred tax assets
The Company reviews the carrying amount of deferred tax assets at the end of each reporting period. The policy for the
same has been explained under Note (xii) above.
e) Defined benefit plans
The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using actuarial
valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the
future. These include the determination of the discount rate; future salary increases and mortality rates. Due to the
complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes
in these assumptions. All assumptions are reviewed at each reporting date.
f) Claims, Provisions & Contingent Liabilities
Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of
funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of
recognition and quantification of the liability require the application of judgement to existing facts and circumstances,
which can be subject to change. Since the cash outflows can take place many years in the future, the carrying amounts
of provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.
g) Fair value measurement
Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes
are not available) and non-financial assets. This involves developing estimates and assumptions consistent with how
market participants would price the instrument. Management bases its assumptions on observable data as far as
possible but this is not always available. In that case management uses the best information available. Estimated fair
values may vary from the actual prices that would be achieved in an armâs length transaction at the reporting date.
XX. Standard issued but not yet effective
There are no standards that are issued but not yet effective on March 31,2025.
The company has adopted Ind AS 116 âLeasesâ and applied the standard to all lease contracts existing on the date of initial application
date, i.e. 1st April, 2019. The company has used the modified retrospective approach for transitioning to Ind AS 116 with right of use asset
recognized at an amount equal to the lease liability adjusted for any prepayments/accruals recognized in the balance sheet immediately
before the date of initial application. Accordingly, comparatives for the year ended 31st March, 2019 have not been retrospectively
adjusted.
The operating leases recorded in the balance sheet following implementation of Ind AS 116 are principally in respect of leasehold land
representing right to use as per contracts excluding low value assets and short term leases of 12 months or less.
(h) Best Estimate of Contribution during the next year
The Best Estimate Contribution for the Company during the next year would be '' 56.40 Lakhs
1) The Company has a defined benefit gratuity plan in India. The companyâs defined benefit gratuity plan is a final salary plan for
employees. Gratuity is paid from company as and when it becomes due and is paid as companyâs scheme for Gratuity.
2) Gratuity is a defined benefit plan and company is exposed to the following risks:
Interest Risk Interest rate risk: A fall in the discount rate which is linked to the Government Securities Rate will increase the present
value of the liability requiring higher provision.
Salary Risk The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As
such, an increase in the salary of the members more than assumed level will increase the planâs liability
Investment Risk The present value of defined benefit plan liability calculated using a discount rate which is determined by reference
to marker yields as at the end of the reporting period on government bonds. If the return on plant assets is below this rate, it will
create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of investments in government securities, and
other debt instruments.
Assets Liability Matching Risk The plan faces the ALM risk as to the matching cash flow. Company has to manage pay-out based
on pay as you go basis from own funds.
Mortality Risk Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have
any longevity risk.
Concentration Risk Plan is having a concentration risk as all the assets are invested with the insurance company and a default will
wipe out all the assets. Although probability of this is very less as insurance companies have to follow regulatory guidelines.
The management assessed that the fair value of cash and cash equivalent, trade receivables, trade payables, and other current financial
assets and liabilities approximate their carrying amounts largely due to the short term maturities of these instruments.
The carrying amount of financial assets and financial 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 received or settled.
Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices.
Level 2 - The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which
maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to
fair value an instrument are observable, the instrument is included in level 2.
Level 3 - If one or more of the significant inputs are not based on observable market data, the instrument is included in level 3.
iii. Valuation technique used to determine fair value
Specific Valuation techniques used to value financial instruments include:
- the use of quoted market prices or dealer quotes for similar instruments
- the fair value of the remaining financial instruments is determined using discounted cash flow analysis
iv. Valuation processes
The accounts and finance department of the company includes a team that performs the valuations of financial assets and liabilities
required for financial reporting purposes, including level 3 fair values. This team reports directly to the chief financial officer (CFO) and
the audit committee. Discussions of valuation processes and results are held between the CFO, AC and the valuation team regularly in
line with the companyâs reporting requirements.
41. Financial Risk Management
Risk Management Framework
The Companyâs financial risk management is an integral part of how to plan and execute its business strategies. The Companyâs financial
risk management policy is set by the managing board.
41.1 Market risk
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates
and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial
instruments including loans and borrowings, foreign currency receivables and payables.
The Company manages market risk through treasury department, which evaluates and exercises independent control over the entire
process of market risk management. The treasury department recommends risk management objectives and policies, which are approved
by Senior Management and the Audit Committee. The activities of this department include management of cash resources, implementing
hedging strategies for foreign currency exposures and borrowing strategies.
41.1.1 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 is not exposed to significant interest rate risk as at the respective reporting dates.
Sensitivity
Variable interest rate loans are exposed to Interest rate risk, the impact on profit or loss before tax may be as follows:
41.1.2 Foreign Currency Risk
The Companyâs exposure to exchange fluctuation risk is very limited for its purchase from overseas suppliers in various foreign currencies.
Foreign Currency Risk is risk that fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchanges rates.
The Company entered into forward exchanges contract average maturity of 90-180 days to hedge against its foreign currency exposures
relating to underlying liabilities firm commitments. The Company has not entered into any Derivatives instruments for trading and
speculative purposes.
There is no foreign currency exposure during the year (P.Y. NIL).
41.2 Credit Risk
Credit risk refers to the risk of default on its obligation by the counter party resulting in a financial loss. The maximum exposure to the
credit risk at the reporting date is primarily from trade receivables amounting to '' 2521.33 lakhs and '' 3416.10 lakhs as of March 31,
2025 and March 31,2024 respectively. Trade receivables are typically unsecured and are derived from revenue earned from customers.
Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the
credit worthiness of customers to which the Company grants credit terms in the normal course of business. On account of adoption of Ind
AS 109, the Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to
compute the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal
credit risk factors and the Companyâs historical experience for customers.
The average credit period on sale of goods is 90 to 180 days.
41.3 Liquidity Risk
The Companyâs principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The
Company believes that the working capital is sufficient to meet its current requirements. Accordingly, no liquidity risk is perceived.
As of 31st March 2025, The Company had a working capital of '' 1471.25 Lakhs including cash and cash equivalent of '' 5.29 Lakhs.
As of 31st March 2024, The Company had a working capital of '' 2654.39 Lakhs including cash and cash equivalent of '' 11.24 Lakhs.
41.3.1 Maturities of Financial Liabilities
The table below analyse the Companyâs financial liabilities into relevant maturity grouping based on their contractual maturities. The
amount disclosed in the tables are contractual undisclosed cash flow.
41.4 Capital Management
The Company manages its capital to ensure that Company will be able to continue as going concern while maximizing the return to
shareholders by striking a balance between debt and equity. The capital structure of the Company consists of net debts (offset by cash
and bank balances) and equity of the Company (Comprising issued capital, reserves, retained earnings).
The Company is not subject to any externally imposed capital requirements except financial covenants agreed with lenders.
In order to optimize capital allocation, the review of capital employed is done considering the amount of capital required to fund capacity
expansion, increased working capital commensurate with increase in size of business and also fund investments in new ventures which
will drive future growth. The Chief Financial Officer (âCFOâ) reviews the capital structure of the Company on a regular basis. As part of
this review, the CFO considers the cost of capital and the risks associated with each class of capital.
Notes :
a. The decrease in current assets and current liabilities aligns with the reduced level of business activities during the year.
b. During the year, the companyâs situation has deteriorated, resulting in reduced cash flows and profitability compared to the previous
year. Consequently, all ratios related to cash flows, revenue, and profitability have declined compared to the previous year.
43. Government Grant Receivable of '' 182.35 Lakhs under Gujarat Apparel Policy 2017.
44. Other statutory information
i) The Company does not have any benami property, where any proceeding have been initiated or pending against the company
for holding any benami property.
ii) There were borrowings by the company from Banks or Financial Institution against the current assets. The quarterly statements
submitted have been in line with financial statement.
iii) The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act,
2013) or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.
iv) The Company does not fall under the eligiblity Criteria of Section -135 of Companies Act, 2013(CSR)
v) The Company does not have any transaction which is 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.)
vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
vii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
viii) 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
ix) 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.
x) There were no transaction during a year with struck off Company.
xi) Previous yearâs figures have been regrouped/rearranged wherever considered necessary to make them comparable with
current yearâs figure.
45. Audit Trail
Enhancing Accountability and Transparency: Implementation of Audit Trail
The company had implemented an audit trail system within our companyâs software which has impact on books of accounts with
effect from [FY 2023]. This implementation underscores our commitment to transparency, accountability, and data integrity. Audit
trail has been implemented for all transactions recorded in the software throughout the year.
By capturing and documenting critical events and activities within our systems, we ensure a comprehensive record that enhances
security, facilitates compliance, and supports effective decision-making.
In addition, audit trail data is preserved in the system as per statutory requirement for record retention. The companyâs dedication to
maintain a robust audit trail reflects ongoing efforts to uphold the highest standards of governance and security across all aspects
of business operations.
Backup Schedule and Data Preservation:
The company is following a backup schedule and data preservation protocol within the organization The companyâs backup
schedule entails frequent and systematic backups of critical data assets to safeguard against potential data loss or corruption. This
proactive approach ensures that valuable information remains protected and accessible in the event of unforeseen circumstances.
The Backup for the accounting software Tally ERP is done on a daily basis and preserved at Disaster Recovery (DR) site located
at HO Mumbai.
As per our Report of even date.
For DMKH & Co. For and on behalf of the Board
Chartered Accountants
ICAI FRN No. 116886W
Pradip Kumar Goenka Tilak Pradip Goenka
Anant Nyatee Chairman & Executive Director Managing Director
Partner DIN No. 00516381 DIN No. 00516464
Membership No. 447848
Date : May 20th, 2025 Narendra J Joshi Siddhant Singh
Mumbai Chief Financial Officer Company Secretary
Mar 31, 2024
XIII. Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event and it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.
If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognised in the Statement of Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best estimate.
A present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are also disclosed 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.
Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as contingent liabilities.
Contingent assets are not recognised in financial statements.
XIV. Borrowing costs
General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale.
Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. Other borrowing costs are expensed in the period in which they are incurred.
XV. Segment Reporting
An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the companyâs chief operating decision maker (CODM) to make decisions for which discrete financial information is available Based on the management approach as defined in I nd AS 108, the chief operating decision maker evaluates the Companyâs performance and allocates resources based on an analysis of various performance indicators by geographic segments.
XVI. Government Grants
Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the Company will comply with all attached conditions. Government grants relating to income are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate and presented within other income.
Government grants relating to the purchase of property, plant and equipment are included in non-current liabilities as deferred income and are credited to profit or loss on a straight-line basis over the expected lives of the related assets and presented within other income.
Government grants relating to an expense item are recognised in the Statement of Profit and Loss by way of a deduction to the related expense on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
XVII. Earnings per share Basic earnings per share
Basic earnings per share is calculated by dividing:
- the profit attributable to owners of the company
- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year
Diluted earnings per share
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:
- the after-income tax effect of interest and other financing costs associated with dilutive potential equity
- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.
XVIII. Cash and cash equivalents
Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks having original maturity of three months or less which are subject to insignificant risk of changes in value.
XIX. Cash Flow Statement
Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.
Significant accounting judgements, estimates and assumptions
The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities, disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expense for the periods presented.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and future periods are affected.
Key sources of estimation of uncertainty at the date of the financial statements, which may cause a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are in respect of impairment of non-current assets, useful lives of property, plant and equipment, valuation of deferred tax assets, provisions and contingent liabilities and fair value measurement.
a) Impairment of financial assets
Trade receivables are stated at their normal value as reduced by appropriate allowances for estimated irrecoverable amounts. Individual trade receivables are written off when management deems them not collectable. Impairment is made on the expected credit loss model, which is the present value of the cash shortfall over the expected life of the financial assets. The impairment provisions for financial assets are based on assumption about the risk of default and expected loss rates. Judgement in making these assumptions and selecting the inputs to the impairment calculation are based on past history, existing market condition as well as forward looking estimates at the end of each reporting period.
b) Impairment of non - financial assets
Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at armâs length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a Discounted Cash Flow (âDCFâ) model. The cash flows are derived from the budget for the next five years and do not include restructuring activities that the Company is not yet committed to or significant future investments that will enhance the assetâs performance of the Cash Generating unit (âCGUâ) being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to disclosure of fair value of investment property recorded by the Company.
c) Useful lives of property, plant and equipment and intangible assets
The Company reviews the useful life of property, plant and equipment and intangible assets at the end of each reporting period. This reassessment may result in change in depreciation/ amortisation expense in future periods.
d) Valuation of deferred tax assets
The Company reviews the carrying amount of deferred tax assets at the end of each reporting period. The policy for the same has been explained under Note (xii) above.
e) Defined benefit plans
The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate; future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
f) Claims, Provisions & Contingent Liabilities
Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability require the application of judgement to existing facts and circumstances, which can be subject to change. Since the cash outflows can take place many years in the future, the carrying amounts of provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.
g) Fair value measurement
Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes are not available) and non-financial assets. This involves developing estimates and assumptions consistent with how market participants would price the instrument. Management bases its assumptions on observable data as far as possible but this is not always available. In that case management uses the best information available. Estimated fair values may vary from the actual prices that would be achieved in an armâs length transaction at the reporting date.
XX. Standard issued but not yet effective
There are no standards that are issued but not yet effective on March 31,2024
(h) Best Estimate of Contribution during the next year
The Best Estimate Contribution for the Company during the next year would be '' 50.97 Lakhs
1) The Company has a defined benefit gratuity plan in India. The companyâs defined benefit gratuity plan is a final salary plan for employees. Gratuity is paid from company as and when it becomes due and is paid as companyâs scheme for Gratuity.
2) Gratuity is a defined benefit plan and company is exposed to the following risks:
Interest Risk Interest rate risk: A fall in the discount rate which is linked to the Government Securities Rate will increase the present value of the liability requiring higher provision.
Salary Risk The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the planâs liability
Investment Risk The present value of defined benefit plan liability calculated using a discount rate which is determined by reference to marker yields as at the end of the reporting period on government bonds. If the return on plant assets is below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of investments in government securities, and other debt instruments.
Assets Liability Matching Risk The plan faces the ALM risk as to the matching cash flow. Company has to manage pay-out based on pay as you go basis from own funds.
Mortality Risk Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.
Concentration Risk Plan is having a concentration risk as all the assets are invested with the insurance company and a default will wipe out all the assets. Although probability of this is very less as insurance companies have to follow regulatory guidelines.
Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices.
Level 2 - The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3 - If one or more of the significant inputs are not based on observable market data, the instrument is included in level 3.
iii. Valuation technique used to determine fair value
Specific Valuation techniques used to value financial instruments include:
- the use of quoted market prices or dealer quotes for similar instruments
- the fair value of the remaining financial instruments is determined using discounted cash flow analysis
iv. Valuation processes
The accounts and finance department of the company includes a team that performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values. This team reports directly to the chief financial officer (CFO) and the audit committee. Discussions of valuation processes and results are held between the CFO, AC and the valuation team regularly in line with the companyâs reporting requirements.
40. Financial Risk Management Risk Management Framework
The Companyâs financial risk management is an integral part of how to plan and execute its business strategies. The Companyâs financial risk management policy is set by the managing board.
40.1 Market risk
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including loans and borrowings, foreign currency receivables and payables.
The Company manages market risk through treasury department, which evaluates and exercises independent control over the entire process of market risk management. The treasury department recommends risk management objectives and policies, which are approved by Senior Management and the Audit Committee. The activities of this department include management of cash resources, implementing hedging strategies for foreign currency exposures and borrowing strategies.
40.1.1 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 is not exposed to significant interest rate risk as at the respective reporting dates.
Sensitivity
Variable interest rate loans are exposed to Interest rate risk, the impact on profit or loss before tax may be as follows:
40.1.2 Foreign Currency Risk
The Companyâs exposure to exchange fluctuation risk is very limited for its purchase from overseas suppliers in various foreign currencies. Foreign Currency Risk is risk that fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchanges rates. The Company entered into forward exchanges contract average maturity of 90-180 days to hedge against its foreign currency exposures relating to underlying liabilities firm commitments. The Company has not entered into any Derivatives instruments for trading and speculative purposes.
There is no foreign currency exposure during the year (P.Y. NIL).
40.2 Credit Risk
Credit risk refers to the risk of default on its obligation by the counter party resulting in a financial loss. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to '' 3416.10 lakhs and '' 4996.04 lakhs lakhs as of March 31, 2024 and March 31,2023 respectively. Trade receivables are typically unsecured and are derived from revenue earned from customers. Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. On account of adoption of Ind AS 109, the Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal credit risk factors and the Companyâs historical experience for customers.
The average credit period on sale of goods is 90 to 180 days.
40.4 Capital Management
The Company manages its capital to ensure that Company will be able to continue as going concern while maximizing the return to shareholders by striking a balance between debt and equity. The capital structure of the Company consists of net debts (offset by cash and bank balances) and equity of the Company (Comprising issued capital, reserves, retained earnings). The Company is not subject to any externally imposed capital requirements except financial covenants agreed with lenders.
In order to optimize capital allocation, the review of capital employed is done considering the amount of capital required to fund capacity expansion, increased working capital commensurate with increase in size of business and also fund investments in new ventures which will drive future growth. The Chief Financial Officer (âCFOâ) reviews the capital structure of the Company on a regular basis. As part of this review, the CFO considers the cost of capital and the risks associated with each class of capital.
Notes :
a. The decrease in current assets and current liabilities aligns with the reduced level of business activities during the year.
b. During the year, the companyâs situation has deteriorated, resulting in reduced cash flows and profitability compared to the previous year. Consequently, all ratios related to cash flows, revenue, and profitability have declined compared to the previous year.
42. Pursuant to the approval received from shareholders through postal ballot on May 28, 2024, the Company is in the process of selling its Fabric Distribution Divisions and made-to-measure business to Tritoma Fashion Lab Private Limited as a slump sale, based on the Fair Market Value (FMV) as of December 31,2023. The FMV of these businesses as of that date, determined under section 50B of the Income Tax Act, 1961, is Rs. 591 Lacs, as assessed by the independent valuer Pradeep Sethia & Associates. Sale is proposed to be completed in current quarter and accordingly the financial impact of transfer and sale of business will be reflected in the Companyâs books of account in the first quarter of financial year 2024-25
43. The company sold its Land & Building located at C-4/2/2, MIDC, Tarapur, Maharashtra, for '' 891.00 Lakhs during the financial year. This transaction resulted in a profit of '' 484.29 Lakhs, which has been recognized under other income in the financial statements. This sale has positively impacted the companyâs financial performance, reflecting our strategic approach to asset management and revenue optimization
44. Government Grant Receivable of '' 177.26 Lakhs under Gujarat Apparel Policy 2017 has been adjusted against respective revenue expenditure.
45. Other statutory information
i) The Company does not have any benami property, where any proceeding have been initiated or pending against the company for holding any benami property.
ii) There were borrowings by the company from Banks or Financial Institution against the current assets. The quarterly statements submitted have been in line with financial statement.
iii) The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.
iv) The Company does not fall under the eligiblity Criteria of Section -135 of Companies Act, 2013(CSR)
v) The Company does not have any transaction which is 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.)
vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
vii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
viii) 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
ix) 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.
x) There were no transaction during a year with struck off Company.
xi) Previous yearâs figures have been regrouped/rearranged wherever considered necessary to make them comparable with current yearâs figure.
As per our Report of even date.
For DMKH & Co. For and on behalf of the Board
Chartered Accountants ICAI FRN No. 116886W
Pradip Kumar Goenka Tilak Pradip Goenka
Anant Nyatee Chairman & Managing Director Director
Partner DIN No. 00516381 DIN No. 00516464
Membership No. 447848
Date : May 29, 2024 Jagdish Prasad Dave Siddhant Singh
Mumbai Chief Financial Officer Company Secretary
Mar 31, 2018
1. Corporate Information
Kamadgiri Fashions Limited (KFL) (âthe Companyâ) is a public limited company, incorporated domiciled in India which mainly engaged in the business of manufacturing and job work in Textile Industry. The Company is listed on the Bombay Stock Exchange (BSE).
The registered office of the Company is located at B-104, âThe Qubeâ M.V. Road, Marol, Andheri (East), Mumbai -400 059.
The financial statements for the year ended 31st March, 2018 were approved by the Board of Directors and authorised for issue on May 26, 2018.
(i) Terms/Rights Attached to Equity Shares
The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in 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 will be in proportion to the number of equity shares held by the shareholders.
2.1 Term Loan from bank amounting of Rs. 400 Lakhs sanctioned during the FY 2014-2015 and end on FY 2018-2019. The Same is repayable in 60 Monthly installments of Rs. 6.67 Lakhs each along with interest. The Loan is secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Equipments.
Term Loan from bank amounting of Rs. 375 Lakhs sanctioned during the FY 2015-2016 and end on FY 2020-2021. The Same is repayable in 60 Monthly installments of Rs. 6.25 Lakhs each along with interest. The Loan is secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Equipments.
Term Loan from bank amounting of Rs. 250 Lakhs sanctioned during the FY 2017-2018 and end on FY 2022-2023. The Same is repayable in 60 Monthly installments of Rs. 4.17 Lakhs each along with interest. The Loan is secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Equipments.
The rate of interest on the above mentioned Term Loans ranges between 11.00 % p.a to 12.00 % p.a.
2.2 Vehicle loans taken from Toyata Financial services india ltd was carried interest @ 9.50% . The loan is repayable in 49 instalments of Rs. 0.32 Lakh including the interest, from the proceeding month of the approval letter, the loan is secured by hypothecation of specific vehicle.
3.1 Cash credit from banks is secured by hypothecation of present and future stock of raw materials, stock in process, finished goods, stores and spares, book debts, outstanding monies, receivable and carries interest @ 10.00% p.a to 12.00% p.a and the same is repayable on demand.
4.1 No Interest is paid / payable during the year to any enterprise registered under Micro Small and Medium Enterprises Development Act, 2006 ( MSMED). The above information has been determined to the extent such parties could be identified on the basis of the status of suppliers under MSMED.
The current service cost and the net interest expense for the year are included in the salaries,wages,bonus,gratuity etc. in note 30 âEmployee Benefits expenseâ. The actuarial(gain)/loss on remeasurement of the net defined benefit liability is included in other comprehensive income.
Discount Rate, Salary Escalation Rate and Withdrawal Rate are significant actuarial assumptions. The change in the Present Value of Defined Benefit Obligation for a change of 100 Basis Points from the assumed assumption is given below:
(f) Major categories of plan assets
(g) The average expected future working life of members of the defined benefit obligation as at March 31, 2018 is 22.00 years (as at March 31, 2017: 26.89 years)
(h) Best Estimate of Contribution during the next year
The Best Estimate Contribution for the Company during the next year would be Rs. 113.28 Lakhs
5. Disclosure in respect of Operating Segments as per Ind AS 108
The company is engaged in manufacturing (in house and outsourced) fabrics,ready to wear garments, considering the overall nature, the management is of the opinion that the entire operation of the company falls under one segment i.e.Textiles and as such there is no separate reportable segment for the purpose of disclosure as required under Indian Accounting Standards (Ins AS 108) - Operating Segments.
6. Disclosure in respect of operating leases as per Ind AS 17 âLeasesâ
The Company has not entered any non-cancellable lease during the year. Lease rental expenses aggregating to Rs. 283.95 lakh (Previous Year Rs. 323.02 Lakhs) Recognised to Statement of Profit & Loss.
The management assessed that the fair value of cash and cash equivalent, trade receivables, trade payables, and other current financial assets and liabilities approximate their carrying amounts largely due to the short term maturities of these instruments.
ii. Fair Value Measurement
The carrying amount of financial assets and financial 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 received or settled.
Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices.
Level 2 - The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.\
Level 3 - If one or more of the significant inputs are not based on observable market data, the instrument is included in level 3.
iii. Valuation technique used to determine fair value
Specific Valuation techniques used to value financial instruments include:
- the use of quoted market prices or dealer quotes for similar instruments
- the fair value of the remaining financial instruments is determined using discounted cash flow analysis
iv. Valuation processes
The accouts and finance department of the company includes a team that performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values. This team reports direclty to the chief financial officer (CFO) and the audit committte. Discussions of valuation processes and results are held between the CFO, AC and the valuation team regulary in line with the companyâs reporting requirements.
7. Financial Risk Management
Risk Management Framework
The Companyâs financial risk management is an integral part of how to plan and execute its business strategies. The Companyâs financial risk management policy is set by the managing board.
7.1 Market risk
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including loans and borrowings, foreign currency receivables and payables.
The Company manages market risk through treasury department, which evaluates and exercises independent control over the entire process of market risk management. The treasury department recommends risk management objectives and policies, which are approved by Senior Management and the Audit Committee. The activities of this department include management of cash resources, implementing hedging strategies for foreign currency exposures and borrowing strategies.
7.1.1 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 is not exposed to significant interest rate risk as at the respective reporting dates.
Sensitivity
Variable interest rate loans are exposed to Interest rate risk, the impact on profit or loss before tax may be as follows:
7.1.2 Foreign Currency Risk
The Companyâs exposure to exchange fluctuation risk is very limited for its purchase from overseas suppliers in various foreign currencies. Foreign Currency Risk is risk that fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchanges rates. The Company entered into forward exchanges contract average maturity of 90-180 days to hedge against its foreign currency exposures relating to underlying liabilities firm commitments. The Company has not entered into any Derivatives instruments for trading and speculatives purposes.
Foreign exchange risk sensitivity:
1% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents managementâs assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a 1% change in foreign currency rates.
A positive number below indicates an increase in profit and negative number below indicates a decrease in profit. Following is the analysis of change in profit where the Indian Rupee strengthens and weakens by 10% against the relevant currency:
In managementâs opinion, the sensitivity analysis is not representative of the inherent foreign exchange risk because the exposure at the end of the reporting period does not reflect the exposure during the year.
7.2 Credit Risk
Credit risk refers to the risk of default on its obligation by the counter party resulting in a financial loss. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to Rs. 7,030.18 lakhs and Rs. 5,150.10 lakhs as of March 31, 2018 and March 31, 2017 respectively. Trade receivables are typically unsecured and are derived from revenue earned from customers. Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. On account of adoption of Ind AS 109, the Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal credit risk factors and the Companyâs historical experience for customers.
The average credit period on sale of goods is 90 to 180 days.
7.3 Liquidity Risk
The Companyâs principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company believes that the working capital is sufficient to meet its current requirements. Accordingly, no liquidity risk is perceived.
As of 31st March 2018, The Company had a working capital of Rs. 2,325.54 lakhs including cash and cash equivalent of Rs. 18.92 Lakhs.
As of 31st March 2017, The Company had a working capital of Rs. 1,879.26 lakhs including cash and cash equivalent of Rs. 11.03 Lakhs.
7.3.1 Maturities of Financial Liablities
The table below anayse the Companyâs financial liablities into relevent maturity grouping based on their contractual maturities. The amount disclosed in the tables are contractual undisclosed cash flow.
7.4 Capital Management
The Company manages its capital to ensure that Company will be able to continue as going concern while maximizing the return to shareholders by striking a balance between debt and equity. The capital structure of the Company consists of net debts (offset by cash and bank balances) and equity of the Company (Comprising issued capital, reserves, retained earnings). The Company is not subject to any externally imposed capital requirements except financial covenants agreed with lenders.
In order to optimize capital allocation, the review of capital employed is done considering the amount of capital required to fund capacity expansion, increased working capital commensurate with increase in size of business and also fund investments in new ventures which will drive future growth. The Chief Financial Officer (âCFOâ) reviews the capital structure of the Company on a regular basis. As part of this review, the CFO considers the cost of capital and the risks associated with each class of capital.
8. Proposed Dividend
The Board of Directors, in its meeting held on May 26, 2018, have recommended a final dividend of Rs. 2 per equity share of Rs. 10/- each aggregating to Rs. 117.39 lakhs (excludings corporate dividend tax) for the financial year ended March 31, 2018. The recommendation is subject to the approval of shareholders at the Annual General Meeting to be held on September 15, 2018.
9. TRANSITION TO IND AS
As stated in Note no. 1(a)(i), the Companyâs financial statements for the year ended 31st March, 2018 are the first annual financial statements prepared in compliance with Ind AS.
The adoption of Ind AS was carried out in accordance with Ind AS 101, using 1st April, 2016 as the transition date. Ind AS 101 requires that all Ind AS that are effective for the first Ind AS Financial Statements for the year ended 31st March, 2017, be applied consistently and retrospectively for all fiscal years presented.
All applicable Ind AS have been applied consistently and retrospectively wherever required. The resulting difference between the carrying amounts of the assets and liabilities in the financial statements under both Ind AS and Previous Generally Accepted Accounting Principles (the Previous GAAP) as of the transition date have been recognised directly in equity at the transition date
In preparing these standalone financial statements, the Company has availed itself of certain exemptions and exceptions in accordance with Ind AS 101 as explained below:
A. Mandatory Exceptions
i. Estimates
An entityâs estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in with the Previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error. Ind AS estimates as at 1st April, 2016 are consistent with the estimates as at the same date made in conformity with the Previous GAAP. The Company made estimates for following items in accordance with Ind AS at the transition date as these were not required under the Previous GAAP:
Impairment of financial assets based on Expected Credit Loss (ECL) Model
ii. Classification and Measurement of Financial Assets
As per Ind AS 101, the Company has assessed classification and measurement of financial assets on the basis of the facts and circumstances that exist at the date of transition to Ind AS.
iii. Impairment of Financial Assets
The Company has recognised loss allowance on trade receivables at the date of transition to Ind AS, based on ECL Model, considering significant increase in credit risk since the initial recognition of those receivables
B. Optional Exemptions from Retrospective Application Deemed Cost
The Company has elected to continue with the carrying value of all of its property, plant and equipment and intangible assets recognised as of 1st April, 2016 , measured as per the Previous GAAP and use that carrying value as its deemed cost as of the transition date under Ind AS.
C. Reconciliations between previous GAAP and Ind AS
Ind AS 101 requires an entity to reconcile equity, total comprehensive income and cash flows for prior periods. The following tables represent the reconciliations from previous GAAP to Ind AS.
D. Notes to first-time adoption:
Note 1: Security deposits
Under the previous GAAP, interest free lease security deposits (that are refundable in cash on completion of the lease term) are recorded at their transaction value. Under Ind AS, all financial assets are required to be recognised at fair value. Accordingly, the company has fair valued these security deposits under Ind AS. Difference between the fair value and transaction value of the security deposit has been recognised as prepaid rent.
Note 2: Borrowings
Ind AS 109 requires transaction costs incurred towards origination of borrowings to be deducted from the carrying amount of borrowings on initial recognition. These costs are recognised in the profit or loss over the tenure of the borrowing as part of the interest expense/ income by applying the effective interest rate method. Under previous GAAP, these transaction costs were charged to profit or loss as and when incurred.
Note 3: Deferred tax
Indian GAAP requires deferred tax accounting using the income statement approach, which focuses on differences between taxable profits and accounting profits for the period. Ind AS 12 requires entities to account for deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base. The application of Ind AS 12 approach has resulted in recognition of deferred tax on new temporary differences which was not required under Indian GAAP.
In addition, the various transitional adjustments lead to temporary differences. According to the accounting policies, the company has to account for such differences. Deferred tax adjustments are recognised in correlation to the underlying transaction either in retained earnings or a separate component of equity.
Note 4: Investment property
Under the previous GAAP, investment properties were presented as part of non-current investments. Under Ind AS, investment properties are required to be separately presented on the face of the balance sheet. There is no impact on the total equity or profit as a result of this adjustment.
Note 5: Proposed dividend
Under the previous GAAP, dividends proposed by the board of directors after the balance sheet date but before the approval of the financial statements were considered as adjusting events. Accordingly, provision for proposed dividend including DDT was recognised as a liability. Under Ind AS, such dividends are recognised when the same is approved by the shareholders in the general meeting. Accordingly, the liability for proposed dividend included under provisions has been reversed with corresponding adjustment to retained earnings. Consequently, the total equity increased by an equivalent amount.
Note 6: Remeasurements of post-employment benefit obligations
Under Ind AS, remeasurements i.e. actuarial gains and losses and the return on plan assets, excluding amounts included in the net interest expense on the net defined benefit liability are recognised in other comprehensive income instead of profit or loss. Under the previous GAAP, these remeasurements were forming part of the profit or loss for the year.
Note 7: Retained earnings
Retained earnings as at April 1, 2016 has been adjusted consequent to the above Ind AS transition adjustments.
Note 8: Other comprehensive income
Under Ind AS, all items of income and expense recognised in a period should be included in profit or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognised in profit or loss but are shown in the statement of profit and loss as âother comprehensive incomeâ includes remeasurements of defined benefit plans, foreign exchange differences arising on translation of foreign operations, effective portion of gains and losses on cash flow hedging instruments and fair value gains or (losses) on FVOCI equity instruments. The concept of other comprehensive income did not exist under previous GAAP.
10 Previous yearâs figures have been regrouped/rearranged wherever considered necessary to make them comparable with current yearâs figure.
Mar 31, 2016
1. Additional Term loan from bank amounting to Rs.375 Lakh sanctioned during the financial year 2015-2016. The same is repayable in 60 Monthly instalments of Rs.6.25 Lakh each along with interest. The loan is secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Machineries.
Term Loan of Rs.283.10 Lakh are secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Machineries. The loan is repayable in 43 equal monthly installments of Rs.6.67 Lakh each along with interest.
Term Loan of Rs.300 Lakh are secured by equitable mortgage of Factory Land and Building and hypothecation of Plant and Machineries. The loan is repayable in 30 equal monthly installments of Rs.10 Lakh each along with interest.
The rate of interest on the above mentioned Term Loans ranges between 12.50 % p.a to 12.75 % p.a.
2. Vehicle loans taken from bank was carried interest @ 10.35% p.a. The loan is repayable in 14 installments of Rs.13,892 along with the interest, from the preceding month of the approval letter, the loan is secured by hypothecation of specific vehicle.
3. The company is engaged in manufacturing (in house and outsourced) fabrics, ready to wear garments, considering the overall nature, the management is of the opinion that the entire operation of the company falls under one segment i.e. Textiles and as such there is no separate reportable segment for the purpose of disclosure as required under Accounting Standard - 17 segment reporting.
4. The Company has not entered into any non-cancelable lease during the year. Lease rental expense aggregating to Rs.255.86 Lakh (previous year Rs.194.59 Lakh) recognized in Statement of Profit & Loss
5. Previous year''s figures have been regrouped/rearranged wherever considered necessary to make them comparable with current year''s figure.
Mar 31, 2015
A. Company overview:-
Kamadgiri Fashion Limited is a public company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Its
shares are listed at BSE Limited in India. The Company is engaged in
the manufacturing and job work in Textile Industries.
B) Terms/rights attached to equity shares :
The Company has only one class of equity shares having a par value of Rs.
10 per share. Each holder of equity share is entitled to one vote per
share. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in 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 will
be in proportion to the number of equity shares held by the
shareholders.
i) Additional Term loan from bank amounting to Rs. 274.38 lacs sanctioned
during the financial year 2014-2015. The same is repayable in 41
Monthly instalments of Rs. 6.67 Lacs each along with interest. The loan
is secured by equitable mortgage of Factory Land and Building and
hypothecation of Plant and Machineries.
Term Loan of Rs. 420 lacs are secured by equitable mortgage of Factory
Land and Building and hypothecation of Plant and Machineries. The loan
is repayable in 42 equal monthly instalments of Rs. 10 Lacs each along
with interest.
Term Loan of Rs. 45 lacs are secured by equitable mortgage of Factory
Land and Building and hypothecation of Plant and Machineries. The loan
is repayable in 9 equal monthly instalments of Rs. 5 Lacs each along with
interest.
Term Loan of Rs. 1.06 lacs are secured by equitable mortgage of Factory
Land and Building and hypothecation of Plant and Machineries. The loan
is repayable in 1 equal monthly instalments of Rs. 1.06 Lacs each along
with interest.
The rate of interest on the above mentioned Term Loans ranges between
12.00 % p.a to 14.00 % p.a.
ii) Vehicle loans taken from bank was carried interest @ 10.50%. The
loan is repayable in 26 instalments of Rs. 45341 along with the interest,
from the proceeding month of the approval letter, the loan is secured
by hypothecation of specific vehicle.
iii) The Company has given premises on operating lease for a 99 year
commencing from the 1st January 2007 which is non cancellable for 99
years. Interest free refundable deposit Rs. 63 lacs received by the
Company, has been disclosed under unsecured loan as deposits.
*Cash credit from banks is secured by hypothecation of present and
future stock of raw materials, stock in process, finished goods, stores
and spares, book debts, outstanding monies, receivable and carries
interest @ 11.25% p.a to 14.00% p.a and the same is epayable on demand
No Interest is paid / payable during the year to any enterprise
registered under Micro, Small and Medium Enterprises Development Act,
2006 (MSMED). The above information has been determined to the extent
such parties could be identified on the basis of the status of
suppliers under MSMED.
(a) In accordance with the provisions of Schdule II of the Act, In case
of fixed assets which have completed their useful life as at 1st April,
2014, the carrying value (net of residual value) amounting to Rs. 40.05
lacs (net of deferred tax of Rs. 19.24 lacs) as a transitional provision
has been recognised in the Retained Earnings.
Defined Benefit Plan
The employees ' gratuity fund scheme is unfunded. The present value of
obligation is determined based on actuarial valuation using the
projected Unit Credit Method, which recognizes each period of service
as giving rise to additional unit of employees benefit entitlement and
measures each unit separately to build up the final obligation.
The estimates of rate of escalation in salary considered in actuarial
valuation, take into account inflation, seniority, promotion and other
relevant factors including supply and demand in the employment market.
The above information is certified by the actuary.
* The details of the same is not received from actuary.
2 The company is engaged in manufacturing (in-house and outsourced)
fabrics, ready to wear garments, Considering the overall nature, the
management is of the opinion that the entire operation of the company
falls under one segment i.e.Textiles and as such there is no separate
reportable segment for the purpose of disclosure as required under
Accounting Standard - 17 segment reporting.
3 CONTINGENT LIABILITIES AND OTHER COMMITMENTS (Rs. in Lacs)
Particulars 31st March 2015 31st March 2014
Contingent Liabilities
a) Claims against the company not
acknowledged as debt 130.30 241.34
b) Guarantees 41.36 79.48
171.66 320.82
Commitments
a) Estimated amount of contracts remaining
to be executed on capital
account and not provided for _ _
b) Other commitments - pending obligation
under EPCG scheme 373.47 318.00
373.47 318.00
TOTAL 545.13 638.82
* Dividend for the F.Y. 2013-2014 was declared in AGM held on 26th
September 2014 and paid on 30th September 2014 31 Previous year's
figures have been regrouped/rearranged wherever considered necessary to
make them comparable with current year's figure.
Mar 31, 2014
Company Overview:-
Kamadgiri Fashion Limited is a public company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Its
shares are listed at Bombay Stock Exchange in India. The Company is
engaged in the manufacturing and job work in textile industries.
Terms/rights attached to equity shares:
The Company has only one class of equity shares having a par value of $
10 per share. Each holder of equity share is entitled to one vote per
share. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in 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 will
be in proportion to the number of equity shares held by the
shareholders.
i. Additional Term loan from bank amounting to $ 328.39 lacs sanctioned
during the financial year 2013-2014. The same is repayable in 54
Monthly instalments of $ 10 Lacs each along with interest. The loan is
secured by equitable mortgage of Factory Land and Building and
hypothecation of Plant and Machineries.
Term Loan of $ 105 lacs are secured by equitable mortgage of Factory
Land and Building and hypothecation of Plant and Machineries. The loan
is repayable in 21 equal monthly instalments of $ 5 Lacs each along
with interest.
Term Loan of $ 14.26 lacs are secured by equitable mortgage of Factory
Land and Building and hypothecation of Plant and Machineries. The loan
is repayable in 13 equal monthly instalments of $ 1.10 Lacs each along
with interest.
The rate of interest on the above mentioned Term Loans ranges between
12.50% p.a to 14.50% p.a.
ii. Vehicle loans taken from bank was carried interest @ 10.35% . The
loan is repayable in 35 instalments of $ 39,857 along with the
interest, from the proceeding month of the approval letter, the loan is
secured by hypothecation of specific vehicle.
iii. The Company has given premises on operating lease for a 99 year
commencing from the 1st January 2007 which is non cancellable for 99
years. Interest free refundable deposit $63 lacs received by the
Company, has been disclosed under unsecured loan as deposits.
The company is engaged in manufacturing (in-house and outsourced)
fabrics, ready to wear garments, Considering the overall nature, the
management is of the opinion that the entire operation of the company
falls under one segment i.e.Textiles and as such there is no separate
reportable segment for the purpose of disclosure as required under
Previous year''s figures have been regrouped wherever considered
necessary to make them comparable with current year''s figure.
Mar 31, 2013
A. Company Overview:-
Kamadgiri Fashion Limited is a public company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Its
shares are listed at Bombay Stock Exchange in India. The Company is
engaged in the manufacturing and job work in textile industries.
1 The Company is engaged in manufacturing (in house and outsourced)
fabrics, ready to wear garments, considering the overall nature, the
management is of the opinion that the entire operation of the company
falls under one segment i.e. Textiles and as such there is no separate
reportable segment for the purpose of disclosure as required under
Accounting Standard - 17 segment reporting.
''Dividend for the F.Y 2011-2012 was declared in AGM held on 18th
September 2012 and paid on 22nd September 2012
2 CONTINGENT LIABILITIES AND OTHER COMMITMENTS (Rs. in lacs)
Particulars 31st March 2013 31st March 2012
Contingent Liabilities
a) Claims against the company
not acknowledged as debt 454.70 378.34
b) Guarantees 79.48 79.48
534.18 457.82
Commitments
a) Estimated amount of contracts
remaining to be executed on -
Capital
account and not provided for
b) Other commitments - pending
obligation under EPCG scheme 33445 334.45
334.45 334.45
TOTAL 868.63 792.27
3 Previous year''s figures have been regrouped/rearranged wherever
considered necessary to make them comparable with current year''s
figure.
Mar 31, 2012
A. Company overview:-
Kamadgiri Fashion Limited is a public company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Its
shares are listed at Bombay Stock exchange in India. The Company is
engaged in the manufacturing and job in textile industries.
a) Terms / rights attached to equity shares
The company has only one class of equity shares having a par value of Rs.
10 per share. Each holder of equity shares is entitled to one vote per
share. The Company declares and pays dividends in Indian Rupees. The
dividend proposed by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting.
During the year ended 31st March 2012, the amount of per share divided
recognized as distribution to equity shareholders was Rs. 0.50(31 st
March 2011 :Rs.1.50).
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 will
be in proportion to the number of equity shares held by the
shareholders.
i) Term loan from bank was sanctioned during the financial year
2010-2011 and carries interest rate @13.75% . The loan is repayable in
66 months with 6 months moratorium repayable in 60 equal monthly
installments of Rs. 18.60 Lacs each along with interest, from the last
disbursement date. The loan is secured by equitable mortgage of Factory
Land and Building hypothecation of Plant and Machineries and secured .
ii) Vehicle loan from bank was taken during the current financial year
and carries interest @ 10.35%. The loan is repayable in 35
installments of Rs. 0.40 Lacs along with the interest, from the proceeding
month of the approval letter, the loan is secured by hypothecation of
specific vehicle.
iii) The Company has given premises on operating lease for a period of
99 years commencing from the 1 st January 2007 which is non cancellable
for 99 years. Interest free refundable deposits Rs. 63 lacs received by
the Company, has been disclosed under unsecured loans as deposits.
*Cash credit from banks is secured by hypothecation of present and
future stock of raw materials, stock in process, finished goods, stores
and spares, book debts, outstanding monies, receivable and carries
interest @ 11.25% to 15.25 % and the same is repayable on demand
No interest is paid / payable during the year to any enterprise
registered under Micro Small and Medium Enterprises Development Act,
2006 ( MSME) The above information has been determined to the extent
such parties could be identified on the basis of the status of
suppliers under MSME.
* Includes statutory dues, advances / deposits from customers and
provisions for expenses
* Investment held in the shares of Jagruti Synthetics Limited, being of
long term nature, is stated at cost of acquisition and no adjustment
has been made in respect of diminution in the value of such investment.
** Includes advance to employees , advances to suppliers and right
issue expenses.
* Pledged with bankers against margin money of Rs. 12.13 Lacs and against
bank guarantee of Rs. 0.70 Lacs (31st March 2011 Margin money Rs. 9.21 Lacs
and bank guarantee Rs. 20.80 Lacs)
* other non operating income includes Insurance claim received Rs. 9.43
Lacs (31st March 2011 Rs. 7.51 Lacs)
Defined Benefit Plan
The employees' gratuity fund scheme is unfunded . The present value of
obligation is determined based on actuarial valuation using the
projected Unit Credit Method, which recognizes each period of service
as giving rise to additional unit of employees benefit entitlement and
measures each unit separately to build up the final obligation.
The obligation for leave encashment is recognized in the same manner as
gratuity.
The estimates of rate of escalation in salary considered in actuarial
valuation, take into account inflation, seniority, promotion and other
relevant factors including supply and demand in the employment market.
The above information is certified by the actuary.
Experience adjustments have not been disclosed as details information
was not received from the actuary.
1 RELATED PARTY DISCLOSURES:
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below
2 The company is engaged in manufacturing (in house and outsourced)
fabrics, ready to wear garments. Considering the overall nature, the
management is of the opinion that the entire operation of the company
falls under one segment i.e. Textiles and as such there is no separate
reportable segment for the purpose of disclosures as required under
Accounting Standard -17 Segment Reporting.
3 CONTINGENT LIABILITIES AND OTHER COMMITMENTS
(Rs. in Lacs)
31st March 2012 31st March 2011
(I) Contingent Liabilities
(a) Claims against the company
not acknowledged as debt 378.34 145.55
(b) Guarantees 79.48 20.80
457.82 166.35
(ii) Commitments
(a) Estimated amount of contracts
remaining to be executed on
capital account and not
provided for - 107.55
(b) Other commitments - Pending
obligation under EPCG Scheme 334.45 334.45
334.45 442.00
792.27 608.35
4 As notified by Ministry of Corporate Affairs, Revised Schedule VI
under the Companies Act, 1956 is applicable to the Financial Statements
for the financial year commencing on or after 1st April 2011.
Accordingly, the financial statements for the year ended 31st March
2012 are prepared in accordance with the Revised Schedule VI. The
amounts and disclosures included in the financial statements of the
previous year have been reclassified to conform to the requirements of
Revised Schedule VI.
* Dividend for the F.Y. 2010-11 was declared in AGM held on 23rd August
2011 and paid on 27th August 2011
Mar 31, 2010
1. Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. 12.75 lacs (Previous
year Rs. 56.34 lacs).
2. Contingent Liabilities not provided for: (i) Tax matters in
appeals-
For 2009-10 (Rs. in lacs) For 2008-09 (Rs. in lacs)
Income Tax 111.51 117.40
Sales Tax 31.04 31.80
(ii) Guarantees given by the bankers of the company amounting to Rs.
11.55 lacs against the fixed deposit of Rs. 8.28 lacs kept as margin
money.
(iii) Liability, if any, arising on account of undertakings given by
the company under EPCG scheme, pending fulfillment of export obligation
approximately Rs. 334.45. lacs.
3. As per the information available with the company in response to
the enquiries from all existing suppliers with whom Company deals, none
of the suppliers are registered with The Micro, Small and Medium
Enterprises Development Act, 2006.
4. Employee Benefits:
a) Defined Contribution Plan
b) Defined Benefit Plan
Leave Encashment: Provision for leave encashment has been made on
actuarial valuation method which was, till earlier year, charged off at
the undiscounted amount in the year in which the related service
provided. Had the Company followed same policy for provision for Leave
Encashment for employees, the provision for leave encashment would have
been higher by Rs. 20.18 lacs including Rs. 14.21
Iacsfortheyear2009-2010.
Gratuity: The employees gratuity scheme is non - fund based. The
present value of obligation is determined based on actuarial valuation
using the Projected Unit Credit Method, which recognizes each period of
service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation.
- The estimates of rates of escalation in salary considered in
actuarial valuation, take into account inflation, seniority, promotion
and other relevant factors including supply and demand in the employment
market. The above information is certified by the actuary.
5. Related Party Disclosure :
1. Names of related parties and description of relationships:
a) Parties having interest in voting power of the company that gives
them significance influence over the Company:
i) Shri Pradip Kumar Goenka ii) Pantaloon Industries Limited
b) Key Management Personnel:
Shri Pradip Kumar Goenka - Chairman & Managing Director
Shri Lalit Kumar Goenka - Whole Time Director
Shri Abhay Kumar Kumat- Chief Executive Officer (w.e.f. 30.10.2009)
Relative of key Management Personnel:
Shri Tilak Goenka (Whole Time Director till 30.06.2009 and Director
till 30.10.2009)
Smt. Jyoti Kumat
c) Enterprises over which parties mentioned in (a) and (b) above are
exercising significant influence: i) Jagruti Synthetics Limited ii)
Ananddeep Consultancy Services Private Limited iii) Spindraw Fibres
Private Limited iv) Tritoma Hotels Private Limited
6. Natures of securities given for secured loans are as under:
(i) Term loans of Rs. 143.90 lacs are secured by equitable mortgage of
Factory Land and Building and hypothecation of plant and machineries.
(ii) Motor car loan of Rs. 4.81 lacs is secured by hypothecation of
specific vehicle.
(iii) Cash Credit of Rs. 1630.55 lacs and Letters of Credit of Rs.
22.32 lacs is secured by first pari passu charge on the entire current
assets of the company underthe consortium arrangement.
(iv) Loans repayable within one year:
Term Loan Form Banks Rs. 133.72 lacs (RY. Rs. 171.14 lacs)
(v) The above loans are further secured by personal guarantee /
collaterally as under:
- Term Loans and Cash Credit facilities mentioned in (i) and (iii)
above - Chairman & Managing
Director and Chief Executive Officer and first charge over the fixed
assets of the Company.
7. Amalgamation expenses were written off to General Reserve of the
Transferee Company. This accounting treatment of the reserve has been
prescribed in the Scheme. Had the Scheme not prescribed this treatment,
this amount would have been debited to the profit and loss account for
the year instead of General Reserve, having corresponding impact on the
net profit for the year.
8. The Company operates in a single segment i.e. textile having same
risk and return. Hence reporting as per AS-17 "Segment Reporting" is
not applicable to the company.
9. Figures of the previous year have been regrouped, rearranged and
recasted to make them comparable with the figures of the current year.
10. The Company has, on 1 st August 2009, made preferential allotment
of 325000 warrants of Rs. 32/- each convertible, on exercising the
conversion right within 18 months from the date of allotment, into one
fully paid equity share of Rs. 10/-, on which the application money has
been received @ Rs. 8/- per warrant.
11. Bank balance does not include Rs. 2.64 lacs (Rs. 2.49 lacs) lying
in Dividend Accounts pertaining to financial year 2002-2003 to
financial year 2008-2009 with Scheduled Banks in the current accounts.
12. In the financial statements, any discrepancies in any total and
the sum of the amounts listed are due to rounding off.
13. Disclosure Under AS-19:
a) The Company has given premises on operating lease for a period of 99
years commencing from 1 st January, 2007 which is non cancellable for
99 years. Interest free refundable deposit Rs. 63.00 lacs received by
the Company, has been taken under unsecured loans as security deposits.
Other
b) The Company has taken various factory galas /machineries/shops under
operating lease. These are not non-cancellable and for a period ranging
between 11 months and/or above and are also renewable at the mutual
consent at mutually agreeable terms. The Company has given refundable
interest free security deposits in accordance with agreed terms. The
rent paid for the year as per agreements has been debited to profit and
loss account.
14. Additional information pursuant to the provisions of paragraph
3,4C and 4D of part II of schedule VI of the Companies Act 1956,
(Figures in the brackets indicate previous yearfigures).
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article
More Information on Kamadgiri Fashion Ltd.
-
Kamadgiri Fashion Ltd. Tools
- Bulk Deals
-
Kamadgiri Fashion Ltd. Company Details
- Company Profile
- Company History
- Management Team
- Capital Structure
- Product Mix
- Banker/Auditor/Registrar
-
Company History
- BSE Price History
-
Kamadgiri Fashion Ltd. Key Financial Ratios
- Ratios
-
Kamadgiri Fashion Ltd. Results
- Quarterly Results
- Half Yearly Results
- Nine Months Results
- Annual Results
-
Kamadgiri Fashion Ltd. Financial Data
- Audited Results
- Cash Flow
- Balance Sheet
-
Kamadgiri Fashion Ltd. Reports
- Accounting Policies
- Auditors Report
- Directors Report
- Notes To Account
-
Kamadgiri Fashion Ltd. Corporate Announcements
- Book Closure
- Dividend
- Board Meetings
- Change of Name
-
Stocks To Buy Today, Dec 19: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Friday -
Stocks To Buy Today, Dec 18: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday -
Stocks To Buy Today, Dec 17: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Wednesday -
Stocks To Buy Today, Dec 16: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Tuesday -
India Stock Market Weekly Review: Nifty and Sensex Fall as Caution Spreads -
Stocks To Buy Today, Dec 15: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday
-
Stocks To Buy Today, Dec 12: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Friday -
Market Outlook 2026: Kotak Securities Sees Nifty 50 at 30,000; THESE 4 Sectors Lead Rally, Gold To Stay Strong -
Stocks To Buy Today, Dec 10: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Wednesday -
D-Street Bleeds For 2nd Day! Sensex Slumps 678 Pts; Nifty Cracks 25,800; Why Stock Market Is Falling Today? -
Stocks To Buy Today, Dec 9: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Tuesday -
Stocks To Buy Today, Dec 8: Top 4 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday -
Stock Market Alert! Major Pre-Open Session Change From Dec 8: Full Timings, Rules & All You Need To Know -
Bank Nifty Surges: RBI’s 25 bps Rate Cut Triggers Strong Upside in Major Banking Stocks -
Closing Bell: Sensex Ends 158 pts Higher, Nifty Climbs Above 26,000; Hero MotoCorp, HAL Up 2% Each -
Stocks To Buy Today, Dec 4: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday
-
Block for 8 hours
-
Block for 12 hours
-
Block for 24 hours
-
Don't block
Sign in with Google- Male
- Female
- Others
- Under 18
- 18 to 25
- 26 to 35
- 36 to 45
- 45 to 55
- 55+