2.15 Provisions and contingencies
A provision is recognized when the Company has
a present obligation as a result of past events and
it is probable that an outflow of resources will be
required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding
retirement benefits) are not discounted to their present
value and are determined based on the best estimate
required to settle the obligation at the Balance Sheet
date. These are reviewed at each Balance Sheet date
and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed in the Notes to
accounts. Contingent assets are not recognised in
the financial statements.
2.16 Operating Cycle:
Based on the nature of products / activities of the
Company and the normal time between acquisition of
assets and their realisation in cash or cash equivalents,
the Company has determined its operating cycle as 12
months for the purpose of classification of its assets
and liabilities as current and non-current. As a result,
current assets comprise elements that are expected
to be realised within 12 months after the reporting
date and current liabilities comprise elements that
are due for settlement within 12 months after the
reporting date.
2.17 Cash Flow Statements
C ash flow are reported using indirect method, whereby
net profit before tax is adjusted for the effects of
transaction of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments.
The cash flow from regular revenue generating,
investing and financing activities of the Company are
segregated.
2.18 Borrowing Cost
Borrowing costs include interest, amortisation of
ancillary costs incurred and exchange differences
arising from foreign currency borrowings to the extent
they are regarded as an adjustment to the interest
cost. Costs in connection with the borrowing of funds
to the extent not directly related to the acquisition of
qualifying assets are charged to the Statement of
Profit and Loss over the tenure of the loan. Borrowing
costs, allocated to and utilised for qualifying assets,
pertaining to the period from commencement of
activities relating to construction / development of the
qualifying asset upto the date of capitalisation of such
asset is added to the cost of the assets. Capitalisation
of borrowing costs is suspended and charged to the
Statement of Profit and Loss during extended periods
when active development activity on the qualifying
assets is interrupted.
2.19 Capital Work in Progress
These are assets which includes the resources cost,
and any other costs directly attributable to bring the
assets to the location and condition necessary for it
to be capable of operating in the manner intended by
management but not put to use as on reporting date.
*Share option oustanding account:-
The reserve is used to recognise fair value of options issued to employees at the grant date under employee stock option
scheme and is adjusted on exercise/forfeiture of options.
**The Company has paid final dividend of ?1 (Rupees one only) per share i.e @10% of face value of equity share of ?10 (Rupees
Ten only) each fully paid up, for the financial year 2023-24, approved in AGM held on 27th September 2024.
Nature and Purpose of Other Reserves:-
i. Securities Premium
Securities Premium represents premium received on issue of shares. The reserve is utilised in accordance with the
provisions of The Companies Act, 2013.
ii. Retained Earnings
E ntire profits made by the Company during the year has been transferred to retained earnings from statement of profit
and loss.
Note: Figures in bracket relate to the previous year
* The company has set up as a wholly owned subsidary comapany in Free Trade Zone in Dubai, UAE in the name and style as
"ALLETEC ME- FZCO". The Board of the Directors of the company has accorded to make Investment by way of Subscribing
5000 Ordinary Shares at a Price AED 10/- per share, amounting to AED 50000.
** As the liabilities for Gratuity and Leave Enchasement are provided on acturial basis for the company as a whole, the amount
pertaining to Directors and Key Management Personel are not included in above.
The transaction with related parties are made on terms equivalent to those that prevaling aarm's length transaction.
29.5. Segment Reporting
The Company Operates in one segment i. e Digital Transformation Solutions & Services for diverse Industries as per Accounting
Standard (AS) 17- Segment Reporting , therefore there are no separate reportable segments.
Note 29.6: Additional Regulatory Information Required by Schedule III
(i) D uring the financial year the Company has taken a Car loan of ? 60,00,000/- from Bank of Broda on dt. 28/10/2024. The
company has registered the charge with Registrar of Company (ROC) on dt.14/05/2025.
(ii) D he Ministry of Corporate Affairs ('MCA') has, by way of notifications dated September 20, 2017, notified the proviso to
Section 2(87) of the Companies Act, 2013 ('Companies Act') and the Companies (Restrictions on Number of Layers)
Rules, 2017 ('Layers Restrictions Rules'). The Company is in compliance with the said notification.
(iii) The company does not have any pending scheme of arrangement in terms of section 230 to 237 of companies Act
2013.
(iv) D he Company has not borrowed any amount from any banks or financial institutions on the basis of security of current
assets.
(v) The Company has not revalued it's property plant and equipment during the financial year.
(vi) Specified Ratio has been Calculated as per "Annexure-1" Attached.
(vii) There is no income surrendered or disclosed as income during the current or previous year in the tax assessment under
the Income Tax Act,1961 that has not been recorded in the books of accounts.
(ix) The Company has no transactions with struck off companies.
(x) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
(xi) The company does not hold any immovable properties, both during the current year or previous year for which title
deeds are not held in the name of company.
(xii) T he Company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority.
(xiii) No Advance or loan or invested funds have been given by company to any person(s) or entity(ies),including foreign
entities (intermediaries) with the understanding that the intermediary shall
(i) T irectly 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
(ii) provide any guarantee, security or the like to or on behalf of the ultimate Beneficiaries.
(xiv) No fund received by company 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
(i) T irectly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the funding party (ultimate Beneficiaries.) or
(ii) provide any guarantee, security or the like to or on behalf of the ultimate Beneficiaries.
(xv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
Note 29: Notes To The Accounts (Contd.)
29.8. Repurposing the proceeds of the objects of IPO
As per RHP of the company The company envisages to deploy the funds within a period of 12 to 24 months i. e till 21st December
2024.
During the Annual General Meeting of the member held on 27th September 2024, the company has passed special resolution
for repurposing the unutilized proceeds amounting to ? 3950.88 Lacs received for the objects of the Initial Public offer (IPO).
The resolution was adopted and approved to utilize the un-utilize IPO proceed amount within upto 36 months towards the
acquisition of Businesses in similar areas.
29.9. Exceptional items & Extraordinary items
Reversal of IPO Expenses debited in earlier year/s of financial statement.
29.10. Micro, Small & Medium Enterprises
The information as required to be disclosed in relation to Micro, Small and Medium Enterprises has been determined to the
extent such parties have been identified on the basis of information available with the Company.
29.11. Other Notes
(i) T he above standalone financial statements have been reviewed and recommended for adoption by the audit committee
to the Board of Directors and have been approved by the board at its meeting held on 21st May 2025.
(ii) There are no investor complaints received/pending as on 31st March, 2025.
(iii) T revious year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification/disclosure.
For and on behalf of the Board of Directors
For Suresh & Associates Ajay Mian Suman Mian
Chartered Accountants Managing Director Director
Firm's Registration No: 003316N DIN : 00170270 DIN : 00170357
(Narendra K Arora) Sandeep Jain Kanak Gupta
Partner Chief Financial Officer Company Secretary
Membership No: 088256
Place : New Delhi
Date : 21st May, 2025
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