Notes to Accounts of Riba Textiles Ltd.

Mar 31, 2024

c) Terms/rights attached to equity shares

During the year there was no fresh issue of equity shares, hence number of shares outstanding at the beginning of the year and end of the year are same. i.e. 9652870 equity shares of Rs. 10/- each

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.

d) Details of shareholders holding more than 5% shares in the Company is set out below (representing legal and beneficial ownership):

14.4 Working Capital Limits Sanctioned Rs 50 crore from which Rs 40 crore by State Bank of India(Rs 10 crore is sub limit FBD/FBP) & Rs 10

crore by Kotak Mahindra Bank Limited(AlI limit are interchangeable with FBD/FBP) are repayable on Demand from bank and are secured against hypothecation of inventories, book debts/ receivables, bills negotiation under ILC/FLC, against collateral security of land & Building of the unit in the name of Company and in the name of Directors and Relatives and personal Guarantee of directors. As per kotak bank exposure total term loan of Rs 14.91 has been reviewed with a capex LC sub limit of Rs 5.92 crore for purchasing of machinery, further other side SBI bank sanctioned and reviewed Term loan of Rs 14.10 crore including a fresh term loan of Rs 4.00 crore for purchasing of machinery. Rs.5.20 crore is Non fund based Derivative limit for forward sales Contracts (Rs 4.50 crore by SBI and Rs 0.70 crore by Kotak Mahindra Bank Limited) and Rs 0.91 crore by Kotak bank and Rs 8.85 crore by SBI sanction as WCTL under ECLGS-1 scheme in previous years which will be fully paid in next financial year 2024-25. Two New car loan of Rs 85 lac has been taken by company in this year.

31 Segment Reporting

The Company business activity falls within single operating segment which is the manufacturing of Terry Towels, Bath Mats & other Textiles Items and operates in a single business segment based on the nature of the products, the risk and returns, organization structure and the internal financial reporting systems. Therefore, there is no reportable segment for the company as per the requirement of IND AS 108 " Operating Segments"

Geographical Information

The "Geographical Segments" comprises of domestic segment which includes sales to customers located in India and the overseas segment include to customers located outside India..

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Mar 31, 2023

2.15 Provisions and Contingent Liabilities:

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Provisions are determined by the best estimate of the outflow of economic benefits to settle the obligation at the reporting date. Where no reliable estimate can be made_/ a disclosure is made for a contingent liability. A disclosure for contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

2.16 Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company''s accounting policies the directors of the Company are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

2.16.1 Critical judgements in applying accounting policies

The following are the critical judgements, apart from those involving estimations, that the directors have made in the process of applying the Company''s accounting policies and that have the most significant effect on the amounts recognized in the financial statements.

Revenue recognition:

In making their judgment, the management considered the detailed criteria for the recognition of revenue from the sale of goods set out in Ind AS 18 and, in particular, whether the Company had transferred to the buyer the significant risks and rewards of ownership of the goods.

2.16.2 Key sources of estimation uncertainty

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period that may have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year.

2.17 Cash & Cash Equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

31 Segment Reporting

The Company business activity falls within single operating segment which is the manufacturing of Terry Towels, Bath Mats & other Textiles Items and operates in a single business segment based on the nature of the products, the risk and returns, organization structure and the internal financial reporting systems. Therefore, there is no reportable segment for the company as per the requirement of IND AS 108" Operating Segments"

Geographical Information

The "Geographical Segments" comprises of domestic segment which includes sales to customers located in India and the overseas segment include to customers located outside India..

37 Approval of financial statements:

The financial statements were approved for issue by the Board of Directors on 29.05.2023

38 Figures in brackets in these notes are in respect of previous year.

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

For Ashwani K Sindwani & Co. Riba Textiles Limited

Firm Regn No.: 021529N Sd/- Sd/-

Chartered Accountants Asha Garg Nitin Garg

Sd/- (Chairperson) Whole-time Director)

Ashwani K Sindwani DIN No: 06987609 DIN No: 00202179

Partner Place: Panipat Place: Panipat

M. No.: 506380- UDIN: 20506380AAAACI3399

Sd/- Sd/-

Place: Panipat Rajnish Mittal NehaDubey

Date: May 29,2023 (CFO) (Company Secretary)

PAN : AQNPM3646B M. No.: A46655

Place: Panipat

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Mar 31, 2018

27 ADDITIONAL INFORMATIONS

27.1	Contingent liabilities and commitments
	(To the extent not provided for) Contingent Liabilities
	(a) Claim against the company not acknowledged As debts; (b) Guarantees
27.2	CIF value of import	361498	680 009
	Packing Material
	Components and spare parts;	2,007,886	1,972,384
	Capital goods;	0	19,490,664
	Total	2,369,384	22,143,057
27.3	Expenditure in foreign currency
	Exhibition & fair charges	4,903,149	4,499,792
	Travelling	2,282,975	2,341,862
	Others	24,422,997	12,015,355
	Total	31,609,121	18,857,009
27.4	Details of consumption of imported and indigenous items	915,950,878	664,664,021
	Raw Materials
	Indigenous
	% Of Total	100	100
	Imported	-	-
	% Of Total	-	-
	Total consumption	915,950,878	664,664,021
	Spare parts and components
	Indigenous	135,758,854	91,021,066
	% Of Total	98.52	98
	Imported	2,007,886	1,972,384
	% Of Total	1.48	2
	Total consumption	137,766,840	92,993,550
27.5	Earning in foreign exchange
	Direct export of good calculated on FOB basis (Previous year''s figures have been regrouped reclassified wherever necessary to correspond with the current year'' classification / disclosure)	1,356,927,871	991,483,133

28 Related Party Disclosures

28.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel''s

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg, Asha Garg

On 13th April 2018, Mr. Aditya Garg son of Mr. Amit Garg, Managing Director, was appointed for the position of a Management Trainee in the Marketing Department for a period of three months with the Stipend of Rs.15000/- per month.

Details of transactions carried out with related parties in the ordinary course of business:

						(Rupees in Lacs)
Sr. No	Nature of Business	Key Management personnel''s		Enterprises over which key management personnel & their relatives are able to exercise significant influence.		Total
		2017-18	2016-17	2017-18	2016-17	2017-18	2016-17
	Remuneration
(i)	Paid
	Ravinder Garg	63.00	42.00			63.00	42.00
	Amit Garg	63.00	42.00			63.00	42.00
	Nitin Garg	63.00	42.00			63.00	42.00
	Asha Garg	9.00	1.50			9.00	1.50
(ii)	Rent Paid
	Ravinder Garg	1.50	1.50			1.50	1.50
	Amit Garg	6.00	6.00			6.00	6.00
	Nitin Garg	6.00	6.00			6.00	6.00

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Mar 31, 2016

1. Rights, preference and restrictions attached to shares issued:

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

2. Related Party Disclosures

3.1Related Parties and transactions with them during the year as identified by the Management are given below:

4. Key Management personnel''s Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg

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Mar 31, 2015

1 Related Party Disclosures

1.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel's

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg

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Mar 31, 2014

Riba Textiles Limited (the Company) is a public company domiciled in India andi ncorporated under the provisions of the Companies Act, 1956. Its shares is listed on Bombay Stock Exchange (BSE). The Company is engaged in Manufacturing & Export of terry towels.

1 Short-term borrowings:

Export packing credit & foreign bills purchase limit are secured by exclusive first charge on entire current assets of the Company including raw material, semi-finished goods including goods in transit, book debts & other current assets of the Company (Present & Future.) Hypothecation of bills also in case of FBP limit.

2 Related Party Disclosures

2.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel''s

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg

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Mar 31, 2013

FIGURES AS AT FIGURES AS AT THE THE PARTICULARS END OF END OF 31.03.2013 31.03.2012 PERIOD PERIOD

CONTINGENT LIABILITIES AND COMMITMENTS

(TO THE EXTENT NOT PROVIDED FOR)

i CONTINGENT LIABILITIES

(a) CLAIM AGAINST THE COMPANY NOT ACNOWLEDGED 0 0

AS DEBTS;

(b) GUARANTEES; 30,000,000 0

Corporate Guarantee and Pari Passu charges over the fixed assets of company given to SBI, Delhi for limit sanctioned to M/s Adanya Impex.

(c) OTHER MONEY FOR WHICH THE COMPANY IS CONTINGENTLY LIABLE. 0 0

ii COMMITMENTS

(a) ESTIMATED AMOUNT OF CONTRACTS REMAINING TO BE EXECUTED ON CAPITAL ACCOUNT AND NOT PROVIDED FOR; 0 0

(b) UNCALLED LIABILITY ON SHARES AND OTHER INVESTMENTS PARTLY PAID; 0 0

(c) OTHER COMMITMENTS 0 0

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Mar 31, 2012

I OPERATIONS

TAX EXPENSE OF DISCONTINUING XIII OPERATIONS

PROFIT(LOSS) FROM DISCONTINUING

M (e) OTHER NON-CURRENT ASSETS

MISC . EXPENDITURE

(TO THE EXTENT NOT WRITTEN OFF OR ADJUSTED)

2 CURRENT ASSETS

N (a) CURRENT INVESTMENTS

FIGURES AS AT FIGURES AS AT THE THE NOTE PARTICULARS END OF END OF 31.03.2012 31.03.2011 NO. PERIOD PERIOD

T CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

i CONTINGENT LIABILITIES

(a) CLAIM AGAINST THE COMPANY NOT ACNOWLEDGED 0 0 AS DEBTS;

(b) GUARANTEES; 0 0

© OTHER MONEY FOR WHICH THE COMPANY IS CONTINGENTLY LIABLE. 0 0

ii COMMITMENTS

(a) ESTIMATED AMOUNT OF CONTRACTS REMAINING TO BE EXECUTED ON CAPITAL ACCOUNT AND NOT PROVIDED FOR; 0 0

(b) UNCALLED LIABILITY ON SHARES AND OTHER INVESTMENTS PARTLY PAID; 0 0

(c) OTHER COMMITMENTS 0 0

THE AMOUNT OF DIVIDENDS PROPOSED TO BE DISTRIBUTED TO EQUITY AND PREFERENCE SHAREHOLDERS FOR THE PERIOD

AMOUNT PER EQUITY SHARE 0 0

V ISSUE OF SECURITIES FOR SPECIFIC PURPOSE

W DETAIL OF ANY ASSETS OTHER THAN FIXED ASSETS AND NON-CURRENT INVESTMENTS WHICH DO NOT HAVE A VALUE ON REALISATION IN THE ORDINARY COURSE OF BUSINESS AT LEAST

EQUAL TO THE AMOUNT AT WHICH THEY ARE STATED.

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Mar 31, 2010

1) Debit and Credit balances in the account of debtors, suppliers are subject to their respective confirmation and reconciliation.

2) In the opinion of Board of Director the current assets, loan and advances have the approximate realizable value at which these are stated, if realized in the ordinary course of business.

3) Provision for income tax liability has been made on the basis of Minimum Alternative tax as per section 115JB of Income Tax Act 1961.

4) There was no employee for full year or part of the year who was getting salary in excess of the limit laid down under section 217 (2A) of Companies Act, 1956.