| 1 Nature of Operations
The Company was Incorporate on 24th May, 2011. The Company Mainly in
Trading Activity of Water Treatment system Business such as Membrane,
Multi port Valve, Cartridge, Vessels, Tank, Pump, Ph Meter, Orp Meter,
Conductivity Meter UV Purifiers, High pressure pumps, pressure switch,
level switch and such other items which used for the purpose of
Industrial watertreatment plant. The Company Operates through its
Business in Mumbai, Pune and Ahmedabad.
2. The year end balance of sundry creditors are subject to
confirmation and reconciliation.
3. As per information given to us,there is no overdue amount payable
to Micro,Small and Medium enterprises as defined under The Micro,Small
and Medium Enterprises development Act, 2006, based on the information
available with the company. Further the comapny has not paid any
interest to any Micro,Small and Medium enterprisesduring the current
year. This disclosure is on the basis of the information available with
the company regarding the status of the suppliers. this has been relied
upon by the auditors.
4. Related Party Disclosures
Related party transactions
Details of related parties:
Description of relationship Names of related parties
Key Management Personnel (KMP) Ketan Khant
Key Management Personnel (KMP) Anjali Khant
Key Management Personnel (KMP) Ashfak Mulla
Relatives of KMP Rehana Mulla
5. Contingent liabilities and commitments (to the extent not provided
for)
For the year For the yea
Particulars ended ended
31 March, 2015 31 March, 2014
i Contingent liabilities
(a) Claims against the Company
not acknowledged as debt NIL NIL
(b) Guarantees NIL NIL
(c) Other money for which the
Company is contingently liable NIL NIL
ii Commitments
The Company has not provided any contractual commitment as on date
which will have material effect on the financial statement of the
compny
6. Details of Transaction in foreign Currency on account of:
For the year For the year
Note Particulars ended ended
31 March, 2015 31 March, 2014
(i) Export 1,264,912.00 1,540,736.00
(ii) Foreign Travelling 656,707.00 202,574.00
2,921,619.00 1,743,310.00
7. Public Issue Expenses
The Company has incurred some expenses for its IPO which has been
currently considered under head Other Current Assets. In The Next
Financial year entire spending towards Public Issue will be write
off against Securities Premium Account.
8. Previous year's figures
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
9. Public Issue
The Company has come out with Initial Public Offer (IPO) with Bombay
Stock Exchange on SME Platform. The Allotment of the same was pending
as on March 31, 2015 since the Issue was closed for an offer on March
30,2015. The Allotment money which Company has received till March
31,2015 has been shown as Share Application Money received pending
for allotment. The Allotment was finalised on April 10, 2015 and
Shares got listed with BSE on April 15, 2015.
10. Employee benefit plans
Defined benefit plans
The Company offers the following employee benefit schemes to
its employees:
i. Gratuity
The following table sets out the funded status of the defined benefit
schemes and the amount recognised in the financial statements:
Particulars For the year For the year
ended ended
31 March, 2015 31 March, 2014
Gratuity Gratuity
Components of employer expense
Current service cost 1,088,051.00 -
Interest cost 64,901.00 -
Expected return on plan assets - -
Curtailment cost / (credit) - -
Settlement cost / (credit) - -
Past service cost - -
Actuarial losses/(gains) 404,564.00 -
Total expense recognised
in the Statement
of Profit and Loss 1,557,516.00 -
Actual contribution and
benefit paymentsfor year
Actual benefit payments - -
Actual contributions - -
Net asset / (liability)
recognised in the Balance Sheet
Present value of defined
benefit obligation 1,557,516.00 -
Fair value of plan assets - -
Funded status [Surplus / (Deficit)] (1,557,516.00) -
Unrecognised past service costs - -
Net asset / (liability)
recognised in the
Balance Sheet (1,557,516.00)
Particulars For the year For the year
ended ended
31 March, 2015 31 March, 2014
Gratuity Gratuity
Change in defined benefit
obligations
(DBO) during the year
Present value of DBO at
beginning of the year - -
Current service cost 1,088,051.00 -
Interest cost 64,901.00 -
Curtailment cost / (credit) - -
Settlement cost / (credit) - -
Plan amendments - -
Acquisitions - -
Actuarial (gains) / losses 404,564.00 -
Past service cost - -
Benefits paid - -
Present value of DBO at
the end of the year 1,557,516.00 -
Change in fair value of
assets during the
year
Plan assets at beginning
of the year -
Acquisition adjustment - -
Expected return on plan assets - -
Actual company contributions - -
Actuarial gain / (loss) - -
Benefits paid - -
Plan assets at the end of the year - -
Actual return on plan assets - -
Composition of the plan
assets is as follows:
Government bonds - -
PSU bonds - -
Equity mutual funds - -
Others - -
Actuarial assumptions
Discount rate 8.00% 0
Expected return on plan assets 0.00% 0
Salary escalation 7.00% 0 |