(q) PROVISIONS, CONTINGENT LIABILITIES AND
CONTINGENT ASSETS:
i) Provisions are made when (a) the Company has a
present legal or constructive obligation as a result
of past events; (b) it is probable that an outflow of
resources embodying economic benefits will be
required to settle the obligation; and (c) a reliable
estimate is made of the amount of the obligation.
i) Contingent liabilities are not provided for but
are disclosed by way of Notes on Accounts.
Contingent liabilities is disclosed in case of a present
obligation from past events (a) when it is not probable
that an outflow of resources will be required to settle
the obligation; (b) when no reliable estimate is possible;
(c) unless the probability of outflow of resources is
remote.
ii) Contingent assets are not accounted but disclosed
by way of Notes on Accounts where the inflow of
economic benefits is probable.
(r) CURRENT AND NON-CURRENTCLASSIFICATION:
i) The Normal Operating Cycle for the Company has been
assumed to be of twelve months for classification of
its various assets and liabilities into "Current" and
"Non-Current".
ii) The Company presents assets and liabilities in the
balance sheet based on current and non-current
classification.
iii) An asset is current when it is (a) expected to be
realized or intended to be sold or consumed in normal
operating cycle; (b) held primarily for the purpose
of trading; (c) expected to be realised within twelve
months after the reporting period; (d) Cash and cash
equivalent unless restricted from being exchanged or
used to settle a liability for at least twelve months after
the reporting period. All other assets are classified as
non-current.
i) A liability is current when (a) it is expected to be
settled in normal operating cycle; (b) it is held
primarily for the purpose of trading; (c) it is due
to be discharged within twelve months after the
reporting period;(d) there is no unconditional
right to defer the settlement of the liability for at
least twelve months after the reporting period.
All other liabilities are classified as non-current.
) GOVERNMENT GRANTS
Government grants are recognised where there is reasonable
assurance that the grant will be received and all attached
conditions will be complied with. When the grant relates to
an expense item, it is recognised as income on a systematic
basis over the periods that the related costs, for which it is
intended to compensate, are expensed.
When the grant relates to an asset, it is recognised as income
in equal amounts over the expected remaining useful life of
the related asset.
When the Company receives grants of non-monetary assets,
the asset and the grant are recorded at fair value amounts
and released to the standalone statement of profit or loss
over the expected useful life in a pattern of consumption
of the benefit of the underlying asset i.e. by equal annual
instalments.
| SEGMENT REPORTING:
i) Operating Segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker (CODM). The CODM
assesses the financial performance and position of the
company, and makes strategic decisions. The CODM
consists of the Chairman, Managing Director, Chief
Executive Officer and Chief Financial Officer.
ii) The Company's operating businesses are organized
and managed separately according to the nature of
products, with each segment representing a strategic
business unit that offers different products and serves
different markets. The identifiable segments are
Manufacturing and Sale of (a) Decorative Laminated
Sheets (b) Medium Density Fiber Board and (c) Polyvinyl
Chloride Board.
iii) The analysis of geographical segment is based
on the geographical location of the customers.
The geographical segments considered for disclosure
are (a) Sales within India include sales to customers
located within India; (b) Sales outside India include
sales to customers located outside India.
iv) Common allocable costs are allocated to each segment
according to the ratio of their respective turnover to
the total turnover.
v) The Unallocated Segment includes general corporate
income and expense items, which are not allocated to
any business segment.
(u) RELATED PARTY TRANSACTIONS:
i) A related party is a person or entity that is related to the
reporting entity preparing its financial statements
(a) A person or a close member of that person's
family is related to reporting entity if that person;
(i) has control or joint control of the reporting
entity;
(ii) has significant influence over the reporting
entity; or
(iii) is a member of the key management
personnel of the reporting entity or of a
parent of the reporting entity.
(b) An entity is related to a reporting entity if any of
the following conditions applies;
(i) the entity and the reporting entity are
members of the same group(which means
that each parent, subsidiary and fellow
subsidiary is related to the others);
(ii) One entity is an associate or joint venture
of the other entity(or an associate or joint
venture of a member of a group of which
the other entity is a member);
(iii) Both entities are joint ventures of the same
third party;
(iv) One entity is a joint venture of a third entity
and the other entity is an associate of the
third entity;
(v) The entity is a post-employment benefit
plan for the benefit of employees of either
the reporting entity or an entity related to
the reporting entity;
(vi) The entity is controlled or jointly controlled
by a person identified in (a);
(vii) A person identified in (a)
(i) Has significant influence over the entity
or is a member of the key management
personnel of the entity(or of a parent
of the entity);
(viii) The entity, or any member of a group of
which it is a part, provides key management
personnel services to the reporting entity or
to the parent of the reporting entity.
ii) A related party transaction is a transfer of resources,
services or obligations between a reporting entity
and a related party, regardless of whether a price is
charged.
Close members of the family of a person are those
family members who may be expected to influence,
or be influenced by, that person in their dealings with
the entity.
Compensation includes all employee benefits i.e.
all forms of consideration paid, payable or provided
by the entity, or on behalf of the entity, in exchange
for services rendered to the entity. It also includes such
consideration paid on behalf of a parent of the entity
in respect of the entity.
Key management personnel are those persons having
authority and responsibility for planning, directing
and controlling the activities of the entity, directly or
indirectly, including any director (whether executive
or otherwise) of that entity.
iii) Disclosure of related party transactions as required by
the accounting standard is furnished in the Notes on
the Standalone Financial Statements.
(v) EARNINGS PER SHARE:
i) Basic earnings per share are calculated by dividing the
net profit or loss for the period attributable to equity
shareholders by the weighted average number of
equity shares outstanding during the period.
ii) For the purpose of calculating diluted earnings per
share, the net profit or loss for the period attributable
to equity shareholders and the weighted average
number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity
shares.
(w) EXPENSES FOR CORPORATE SOCIAL RESPONSIBILITY:
i) In case of CSR activities undertaken by the Company,
if any expenditure of revenue nature is incurred or an
irrevocable contribution is made to any agency to be
spent by the latter on any of the activities mentioned
in Schedule VII to the Companies Act, 2013, the same
is charged as an expense to its Statement of Profit and
Loss.
ii) In case, the expenditure incurred by the Company is of
such a nature which gives rise to an asset, such an asset
is recognized where the Company retains the control
of the asset and any future economic benefit accrues
to it. A liability incurred by entering in to a contractual
obligation is recognized to the extent to which CSR
activity is completed during the year.
(x) Investment in Subsidiaries
The Company has elected to recognise its investments in
subsidiary at cost in accordance with the option available in
Ind AS 27, Separate Financial Statements.
(y) Events after reporting date
Where events occurring after the Balance Sheet date
provide evidence of conditions that existed at the end of
the reporting period, the impact of such events is adjusted
within the financial statements. Otherwise, events after
the Balance Sheet date of material size or nature are only
disclosed.
(z) CRITICAL ACCOUNTING JUDGMENTS, ASSUMPTIONS
AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the Standalone Financial Statements
requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities at the
date of the financial statements. Estimates and assumptions
are continuously evaluated and are based on management's
experience and other factors, including expectations of
future events that are believed to be reasonable under the
circumstances. Uncertainty about these assumptions and
estimates could result in outcomes that require a material
adjustment to the carrying amount of assets or liabilities
affected in future periods.
a) Judgements
In the process of applying the Company's accounting
policies, management has made the following
judgements, which have the most significant effect on
the amounts recognized in the standalone financial
statements:
(i) Determination of Functional Currency
Currency of the primary economic environment
in which the Company operates ("the functional
currency") is Indian Rupee (?) in which the
company primarily generates and expends cash.
Accordingly, the Management has assessed its
functional currency to be Indian Rupee (?) i.e.
? in Millions.
(ii) Evaluation of Indicators for Impairment of
Property, Plant and Equipment
The evaluation of applicability of indicators of
impairment of assets requires assessment of
external factors (significant decline asset's value,
significant changes in the technological, market,
economic or legal environment, market interest
rates etc.) and internal factors (obsolescence or
physical damage of an asset, poor economic
performance of the asset etc.) which could result
in significant change in recoverable amount of
the Property, Plant and Equipment.
b) Assumptions and Estimation Uncertainties
Information about estimates and assumptions
that have the significant effect on recognition and
measurement of assets, liabilities, income and expenses
is provided below. Actual results may differ from these
estimates.
(i) Useful lives of Property, Plant and Equipment/
Intangible Assets
Property, Plant and Equipment/ Intangible Assets
are depreciated/amortised over their estimated
useful lives, after taking into account estimated
residual value. The useful lives and residual values
are based on the Company's historical experience
with similar assets and taking into account
anticipated technological changes or commercial
obsolescence. Management reviews the
estimated useful lives and residual values of the
assets annually in order to determine the amount
of depreciation/amortisation to be recorded
during any reporting period. The depreciation/
amortisation for future periods is revised, if there
are significant changes from previous estimates
and accordingly, the unamortised/depreciable
amount is charged over the remaining useful life
of the assets.
(ii) Contingent Liabilities
In the normal course of business, Contingent
Liabilities may arise from litigation and other
claims against the Group. Potential liabilities
that are possible but not probable of
crystallising or are very difficult to quantify
reliably are treated as contingent liabilities.
Such liabilities are disclosed in the Notes but
are not recognised. Potential liabilities that are
remote are neither recognised nor disclosed as
contingent liability. The management decides
whether the matters need to be classified as
'remote', 'possible' or 'probable' based on
expert advice, past judgements, experiences
etc.
(iii) Evaluation of Indicators for Impairment of
Property, Plant and Equipment
The evaluation of applicability of indicators
of impairment of assets requires assessment
of external factors (significant decline in
asset's value, economic or legal environment,
market interest rates etc.) and internal factors
(obsolescence or physical damage of an asset,
poor economic performance of the idle assets
etc.) which could result in significant change
in recoverable amount of the Property, Plant
and Equipment and such assessment is based
on estimates, future plans as envisaged by the
Company.
(iv) Provisions
Provisions and liabilities are recognised 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
requires the application of judgement to existing
facts and circumstances, which can be subject to
change. The carrying amounts of provisions and
liabilities are reviewed regularly and revised to
take account of changing facts and circumstances.
Purpose of Reserves :
a) Capital Redemption Reserve : As per Companies Act 2013 capital redemption reserve is created when company purchases its
own shares out of free reserves or securities premium. A sum equal to the nominal value of the shares so purchased is transferred
to capital redemption reserve. The reserve is utilised in accordance with the provisions of section 69 of the Companies Act 2013.
b) Security Premium : Securities premium is used to record premium received on issue of shares. The reserve is utilised in accordance
with the provisions of the Companies Act 2013.
c) General Reserve : Under the erstwhile Indian Companies Act 1956 a general reserve was created through an annual transfer of net
profit at a specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act 2013 the
requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn though the
Company may transfer such percentage of its profits for the financial year as it may consider appropriate. Declaration of dividend
out of such reserve shall not be made except in accordance with rules prescribed in this behalf under the Act.
d) Amalgamation Reserve : If the amalgamation is an 'amalgamation in the nature of merger' the identity of the reserves is preserved
and they appear in the financial statements of the transferee company.
e) Revaluation Reserve : Amount of reserve created by company when fair market value of assets increase as compared to book
value then the difference of profit is transferred to revaluation reserve and if value of any assets decreases then this reserve is used
by company for balancing the losses
f) Retained Earnings : Retained Earnings are the profits and gains that the Company has earned till date less any transfer to general
reserve dividends or other distributions paid to shareholders.
b) Capital Commitments
Estimated amount of contracts remaining to be executed on capital account [net of advances] and not provided for ' 484.53
million (P.Y ' 842.82 million)
c) EPCG Commitments
Future export obligations/commitments under import of Capital Goods at Concessional rate of customs duty. As at 31st March,
2025 ? NIL Million (Previous Year ? 9.05 Million).
Note:
a) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above, pending
resolution of the respective proceedings as it is determinable only on receipt of judgments/decisions pending with various
forums/ authorities.
b) The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are
required and disclosed as contingent liabilities where applicable, in its financial statements. The Company does not expect
the outcome of these proceedings to have a materially adverse effect on its financial results.
36A. The Subsidiary company, namely Rushil Modala Ply Limited, was incorporated on 19th March, 2024 and this being the first year of
incorporation hence previous year figures are not given. Further one wholly owned Subsidiary company, namely Rushil Decor Pte
Ltd, was incorporated on 06th November, 2024 but holding company has not remitted any investment and hence the same is not
consider into consolidation for the year under review.
37. FINANCIAL AND DERIVATIVE INSTRUMENTS
- Capital Management
The Company's capital management is intended to create value for shareholders by facilitating the achievement of long-term and
short-term goals of the Company.
The Company determines the amount of capital required on the basis of annual business plan coupled with long-term and short
term strategic investment and expansion plans. The funding needs are met through equity, cash generated from operations,
long-term and short-term bank borrowings.
The Company monitors the capital structure on the basis of net debt to equity ratio and maturity profile of the overall debt portfolio
of the Company.
Net debt includes interest bearing borrowings including lease obligations less cash and cash equivalents, other bank balances.
The table below summaries the capital, net debt and net debt to equity ratio of the Company.
(ii) Fair Value Measurement
This note provides information about how the Company determines fair values of various financial assets. Fair Value of financial
assets and liabilities that are not measured at fair value (but fair value disclosures are required). Management considers that the
carrying amounts of financial assets and financial liabilities recognized in the financial statements at an approximate fair values.
(iii) Financial Risk Management Objectives
While ensuring liquidity is sufficient to meet Company's operational requirements, the Company's financial management committee
also monitors and manages key financial risks relating to the operations of the Company by analyzing exposures by degree and
magnitude of risks. These risks include market risk (including currency risk and price risk), credit risk and liquidity risk.
Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market risk comprises two types of risk: interest rate, currency risk and other price risk, such as commodity price risk and
equity price risk. Financial instruments affected by market risk include FVTPL (Fair Value through Profit or Loss) investments, trade
payables, trade receivables, etc.
Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign
exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's
operating activities. The Company has a treasury department which monitors the foreign exchange fluctuations on the continuous
basis and advises the management of any material adverse effect on the Company.
The Company's interest rate risk arises from the Long Term Borrowings with fixed rates. The Company's fixed rates borrowings
are carried at amortised cost.
Liquidity Risk
The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability
of funding through an adequate amount of committed credit facilities to meet the obligations when due.
Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows.
In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations
by matching the maturity profiles of financial assets & liabilities and monitoring balance sheet liquidity ratios.
The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed
repayment periods. The information included in the tables have been drawn up based on the undiscounted cash flows of financial
liabilities based on the earliest date on which the Company can be required to pay. The contractual maturity is based on the earliest
date on which the Company may be required to pay.
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to
a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables).
Trade Receivables
An impairment analysis is performed at each reporting date on an individual basis for all the customers. In addition, a large number
of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum exposure to
credit risk at the reporting date is the carrying value of trade receivables disclosed in Note 4 and 8, as the Company does not hold
collateral as security. The Company has evaluated the concentration of risk with respect to trade receivables as low, as its customers
are located in several jurisdictions and industries.
38. The Previous year's figures have been regrouped, reworked, rearranged and reclassified wherever necessary to make them
comparable with current year figures.
39. The Company has sought Balance Confirmations from trade receivables and trade payables wherever such balance, confirmations
are received by the company, the same are reconciled and appropriate adjustments if requested are made in the books of account.
40. EXPORT PROMOTION CAPITAL GOODS (EPCG)
Export Promotion Capital Goods (EPCG) scheme allows import of certain capital goods including spares at concessional duty
subject to an export obligation for the duty saved on capital goods imported under EPCG scheme. The duty saved on capital goods
imported under EPCG scheme being Government Grant, is accounted as stated in the Accounting policy on Government Grant.
41. OPERATING SEGMENT :
a) Decorative Laminated Sheets
b) Medium Density Fiber Board
c) Polyvinyl Chloride Boards
Identification of segments:
The chief operational decision maker monitors the operating results of its business segment separately for the purpose of making
decision about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is
measured consistently with profit or loss in the financial statements. Operating segment has been identified on the basis of nature
of products and other quantitative criteria specified in the Ind AS 108.
Segment revenue and results:
The expenses and income which are not directly attributable to any business segment are shown as unallocable expenditure (net
of allocable income).
Segment assets and Liabilities:
Segment assets include all operating assets used by the operating segment and mainly consist of property, plant and equipment,
trade receivables, inventories and other operating assets. Segment liabilities primarily include trade payable and other liabilities.
Common assets and liabilities which cannot be allocated to any of the business segment are shown as unallocable assets / liabilities.
Inter segment transfer:
Inter segment revenues are recognized at sales price. The same is based on market price and business risks. Profit or loss on inter
segment transfer are eliminated at the group level.
Segment wise Revenue, Results and capital employed
Primary business segments - Revenue by nature of products:
(i) Defined Contribution Plan: Employee benefits in the form of Provident Fund are considered as defined contribution plan
and the contributions to Employees Provident Fund Organization established under The Employees Provident Fund and
Miscellaneous Provisions Act 1952 and Employees State Insurance Act, 1948, respectively, are charged to the profit and loss
account of the year when the contributions to the respective funds are due.
(ii) Defined Benefit Plan: Retirement benefits in the form of Gratuity are considered as defined benefit obligation and are provided
for on the basis of third party actuarial valuation, using the projected unit credit method, as at the date of the Balance Sheet.
Every Employee who has completed five years or more of service is entitled to Gratuity on terms not less favorable than the
provisions of The Payment of Gratuity Act, 1972.
As the Company has not funded its liability, it has nothing to disclose regarding plan assets and its reconciliation.
(iii) Major risk to the plan
A. Actuarial Risk:
It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:
Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an
increase in Obligation at a rate that is higher than expected.
Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity
Benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration
of cash flow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and
discount rate.
Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the
Gratuity Benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested
as at the resignation date.
B. Investment Risk:
For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be
the fair value of instruments backing the liability. In such cases, the present value of the assets is independent of the
future discount rate. This can result in wide fluctuations in the net liability or the funded status if there are significant
changes in the discount rate during the inter-valuation period.
C. Liquidity Risk:
Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits.
If some of such employees resign/retire from the company there can be strain on the cash flows.
D. Market Risk:
Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets.
One actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value of
money. An increase in discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa.
This assumption depends on the yields on the corporate/government bonds and hence the valuation of liability is
exposed to fluctuations in the yields as at the valuation date.
E. Legislative Risk:
Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/
regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher
benefits to the employees. This will directly affect the present value of the Defined Benefit Obligation and the same will
have to be recognized immediately in the year when any such amendment is effective.
45. CORPORATE SOCIAL RESPONSIBILITY CONTRIBUTION
As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2%
of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities.
The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare,
destitute care and rehabilitation, environment sustainability, disaster relief, COVID-19 relief and rural development projects
and other activities as mentioned in Schedule VII of the Companies Act, 2013. A CSR committee has been formed by the
company as per the Act. The funds were primarily utilized throughout the year on these activities which are specified in
Schedule VII of the Companies Act, 2013:
49. BENAMI TRANSACTIONS
As stated & confirmed by the Board of Directors, The Company does not have any Benami property, where any proceeding has
been initiated or pending against the Group for holding any Benami property.
50. LOAN OR INVESTMENT TO ULTIMATE BENEFICIARIES
As stated & Confirmed by the Board of Directors, 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
51. LOAN OR INVESTMENT FROM ULTIMATE BENEFICIARIES
As stated & Confirmed by the Board of Directors ,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,
52. UTILIZATION OF TERM LOANS
The company has applied term loans for the purpose for which the same was obtained during the year.
53. WILLFUL DEFAULTER
As stated & Confirmed by the Board of Directors, The Company has not been declared willful defaulter by the bank during the
year under review.
54. TRANSACTIONS WITH STRUCK OFF COMPANIES
As stated & Confirmed by the Board of Directors ,The company has not under taken any transactions nor has outstanding balance
with the company Struck Off either under section 248 of the Act or under Section 560 of Companies act 1956.
55. WORKING CAPITAL
The Company has been sanctioned working capital limits from a bank on the basis of security of the current assets. Revised Quarterly
returns or statements filed by the company with such bank are in agreement with the books of accounts.
56. SATISFACTION OF CHARGE /CREATION OF CHARGE
As stated & Confirmed by the Board of Directors, The Company does not have any pending registration or satisfaction of charges
with ROC beyond the statutory period.
57. As stated and confirmed by the Board of Directors, the company has complied with the number of layer prescribed under clause
(87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017
58. CRYPTO CURRENCY
As stated & Confirmed by the Board of Directors, The Company has not traded or invested in Crypto Currency or Virtual Currency.
59. COMPLIANCE WITH APPROVED SCHEMES OF ARRANGEMENTS
The Company has not applied for any scheme of Arrangements under sections 230 to 237 of the Companies Act 2013.
60. SIGNIFICANT EVENTS AFTER THE REPORTING DATE
There were no significant adjusting events that occurred subsequent to the reporting period.
61. MAINTENANCE OF BOOKS OF ACCOUNTS
The audit trail feature was enabled at the database level for accounting software SAP to log any direct data changes, used for
maintenance of all accounting records by the Holding Company. Accounting software administration guide states that enabling
the same all the time consumes storage space on the disk and can impact database performance significantly. audit trail (edit log)
is enabled at the application level. In the meanwhile, the Company continues to ensure that direct write access to the database is
granted only via an approved change management process
62. The Company has assessed internal and external information up to the date of approval of the audited financial statements while
reviewing the recoverability of assets, adequacy of financial resources, Performance of contractual obligations, ability to service
the debt and liabilities etc. Based on such assessment, the company expects to fully recover the carrying amounts of the assets
and comfortably discharge its debts and obligations. Hence the management does not envisage any material impact on the
audited financial statements of the company for the year ended on 31st March 2025.
63. During the year under review, the company has sold its land of Navalgadh unit resulted in gain of ? 1,99,62,021. The said gain is
reflected under the exceptional item in the statement of Profit & Loss.
64. On 14th May 2025, the Board of Directors recommended a final dividend of ? 0.10 per equity share to be paid to the shareholders
for Financial year 2024-25, which is subject to approval by Shareholders at the Annual General Meeting. If approved, the dividend
would result in a cash outflow of ? 30 Million.
Note (i): Net Profit after taxes Non-cash operating expenses Interest other adjustments like loss on sale of Fixed assets etc.
66. The financial statements were authorized for issue by the directors on 14th May 2025
- : Significant accounting policies - A : -
- : Notes To Financial Statements 1 to 66 : -
For Pankaj R Shah & Associates For and on behalf of the Board of Directors,
Chartered Accountants Rushil Decor Limited
(Firm Regn.No.107361W)
CA Nilesh Shah [Krupesh G. Thakkar] [Rushil K. Thakkar]
Partner Chairman Managing Director
Membership No.107414 DIN :01059666 DIN :06432117
UDIN: 25107414BMGISU2614
[Keyur M. Gajjar] [Hiren B. Padhya] [Hasmukh K. Modi]
Place: Ahmedabad Chief Executive Officer Chief Financial Officer Company Secretary
Date: 14th May, 2025
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