c) The Company has issued only one class of equity shares having a face value of INR 10 per share. All Equity Shares carry one vote per share without restrictions and are entitled to Dividend, as and when declared. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, if any, in proportion to their respective shareholding. All shares rank equally with regard to the Company’s residual assets.
f) During the year ended March 31, 2025, the Company has issued Nil bonus shares (previous year ended March 31,2024: 8,20,000 equity shares of INR 10 each as fully paid-up bonus shares in the ratio of one equity share for every two equity shares to warrant holders on conversion of fully paid warrants to equity shares. There have been no other shares which has been issued for a consideration other than cash and no shares bought back by the Company during the period of 5 years immediately preceding the reporting date.
g) There are no options outstanding as at the end of the year.
h) During the previous year, pursuant to a Qualified Institutions Placement (“QIP”), 13,62,397 fully paid-up equity shares were issued and allotted to 21 subscribers, at INR 1,101 (face value INR 10 plus premium of INR 1,091) per equity share, on February 29, 2024 (refer note 49) increasing the share capital by INR 1,36.24 lacs and the securities premium by INR 1,48,63.75 lacs.
Nature and purpose of reserves
a) Capital subsidy reserve
This represents the profit earned by the Company through a special transaction in the nature of a government subsidy that is not available for distributing dividend.
b) Securities premium
Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with provisions of the Companies Act, 2013.
c) General reserve
General reserve is a distributable reserve created by way of transfer from time to time from annual profits. The reserve is utilised in accordance with provisions of the Companies Act, 2013.
d) Retained earnings
Represents the accumulated balances of profits earned over the years after appropriation for general reserves, and adjustments for dividends or other distributions paid to shareholders.
e) Money received against warrants
Represents amount received towards preferential allotment of convertible warrants issued.
a. External Commercial Borrowing (“ECB”) from BpiFrance S.A., in the nature of term loan, outstanding € 11,882,512.84 (excluding transaction cost of € 1,110,518.81) equivalent to INR 10,961.63 lacs (excluding transaction cost of INR 10,18.69 lacs), [previous year: € 2,244,832.84 (excluding transaction cost of € 130,286.53) equivalent to INR 20,57.16 lacs(excluding transaction cost of INR 1,09.93 lacs)], carries annual interest at 3.84% and is repayable in 20 semi-annual instalments, commencing from May 2025, and interest repayment commencing from May 2024 as and when due, and is secured under BpiFrance Assurance Export credit guarantee;
b. There has been no default in servicing of loans and interest due thereon during and as at the end of the year;
c. Interest accrued and not due on above borrowings is INR 147.46 lacs (March 31, 2024: INR 3.26 lacs). (refer note 28)
a. Working Capital loans, repayable on demand, and bearing interest at the rate of between 8.90 to 11.30 % per annum are secured by first charge, ranking pari-passu, in favour of members of the Consortium of Banks, on all current assets of the Company, present and future, and second charge, ranking pari-passu with term lender banks, on the entire fixed assets of the Company, present and future, wherever situated.;
b. Acceptances include arrangements where operational supplies of goods and services are paid by banks on due date which are normally effected within a period of 90 days from the date of transaction.
c. Disclosures with respect to related party transactions is given in note 42.
d. Micro enterprises and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) have been identified by the Company on the basis of the information available with the Company and the auditors have relied on the same. Disclosure pursuant to MSMED Act on the amount due to micro and small enterprises is given below:
B) Details of Dividends:
Dividend of INR 2.00 per equity share of face value INR 10 each for the financial year ended March 31, 2024, was approved by shareholders at Annual General Meeting held on July 29, 2024 and was paid on August 14, 2024 with a total appropriation of INR 4,40.69 lacs.
The Board of Directors, at its meeting held on May 29, 2025, has recommended for approval by Members at the ensuing Annual General Meeting a dividend of INR 2.00 per fully paid-up equity share of INR 10 each for the financial year ended March 31, 2025, and which, if approved, would result in a cash outflow of INR 4,69.41 lacs (assuming full conversion of outstanding warrants into fully paid equity shares prior to the record date that may be set for the purpose).
39. Employee benefits
a) Defined Contribution Plan
The Company makes contribution towards provident fund, superannuation fund and Employee State Insurance for qualifying employees to government administered /approved funds wherein the Company is required to contribute a specified percentage of payroll cost to the schemes to fund the benefits. The Company has no further obligations beyond the periodic contributions.
The Company recognized INR 1,57.61 lacs (March 31, 2024: INR 1,38.40 lacs) towards provident fund contributions, superannuation fund contribution and ESI contribution in the Standalone Statement of Profit and Loss included in "Employee benefits expense" (note 34).
b) Defined Benefit Plan Gratuity
The Company provides for gratuity as per the Payment of Gratuity Act, 1972 or as per applicable Company rules, whichever is higher. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The Company accounts for the liability for gratuity benefits payable in future based on actuarial valuation
The following table sets out the status of the gratuity plan, based on the actuarial valuation obtained in this respect and the amounts recognised in the Company’s standalone financial statements as at balance sheet date:
(xi) Company expects to contribute INR 25 lacs (2024-25: INR 5.00 lacs) to the funded plan during the financial year 2025-26. Provident Fund
Provident fund benefits provided under plans wherein contributions are made to an irrevocable trust set up by the Company to manage the investments and distribute the amounts entitled to employees are treated as a defined benefit plan as the Company is obligated to provide the members a rate of return which should, at the minimum, meet the interest rate declared by Government administered provident fund. A part of the Company’s contribution is transferred to Government administered pension fund. The contributions made by the Company and the shortfall of interest, if any, are recognised as an expense in standalone statement of profit and loss under employee benefits expense.
c) Other long term benefits
The leave obligations cover the Company’s liability for earned leave. The liability towards compensated absences based on the actuarial valuation carried out by using projected accrued benefit method as reduced by the contribution to the plan assets resulted in a net liability of INR 55.95 lacs as on March 31, 2025 (net liability of INR 4.54 lacs as on March 31, 2024) which have been shown under "Current provisions” in the Standalone Financial Statements. Company expects to contribute INR 25 lacs (2024-25: INR 5 lacs) to the funded plan during the financial year 2025-26.
40. Consortium lenders had retained a right to recompense for NPV loss that may have arisen on rescheduling of term loans (without sacrifice) effective April 1, 2016. During the year ended March 31, 2024, consortium lenders exercised their right to recompense, notwithstanding the prepayment of outstanding loans in the previous year, and a sum INR 2,02.00 lacs was demanded and paid. This payment had been disclosed as an exceptional item.
41. a. Contingent liabilities
|
|
(In INR lacs)
|
|
Year ended
|
Year ended
|
|
March 31, 2025
|
March 31, 2024
|
Claims against the Company, not acknowledged as debt
|
39.18
|
39.18
|
Sales tax, Excise and Customs matters
|
3,89.23
|
3,89.23
|
Goods and service tax (refer note 2 below)
|
93.21
|
72.49
|
probable obligations for past periods while awaiting further directions/clarifications in the matter to assess any potential impact on the Company as no reliable estimate can yet be made.
2) The Company has made claims in respect of mismatch of input tax credit for financial year 2019-20 which are pending before relevant Appellate Authority. The management, based on advise received, expects that the Company’s position will likely be ultimately upheld and there will be no material adverse effect on the Standalone Financial Statements.
b. Commitments
a) Estimated amount of contracts remaining to be executed on capital account and not provided for in the accounts (net of capital advances): INR 28,15.91 lacs (March 31, 2024: INR 2,56,95.32 lacs)
b) Guarantee issued by the Company on behalf of subsidiary for business purposes: € 23,724,293.40 (equivalent to INR 2,18,85.66 lacs).
c) Prepaid expenses include INR Nil (previous year: INR 8,98.19 lacs) towards unamortised insurance premium on the
drawn and undrawn ECB from BpiFrance S.A. amounting to € 421,211 (previous year: € 1,29,76,862.84) (refer note 22).
B. Terms and conditions of transactions with related parties
The transactions with related parties are made in the ordinary course of business and on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured and settlement occurs in cash. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.
D. No balances were outstanding at the end of the current or previous year from/to any of the Related parties, other than as stated above.
E. Related party relationships have been identified by the management and relied upon by the auditors.
43. Segment Information
The Company operates predominantly within a single reportable business segment i.e. Polymers Processing business and mainly in a single geographic segment i.e. India. There are no separate reportable business or geographic segments. The aforesaid is in line with review of performance and allocation of resources by the chief operating decision maker. Revenue of INR 1,38,85.70 lacs (previous year: INR 1,65,24.71 lacs) was derived from one (previous year: two) external customers each accounting for over ten percent of the revenue.
Areas selected from those identified and prescribed under the Companies Act, 2013. The Company has adopted a policy to support duly registered and qualified external bodies including NGOs or Government relief funds including through financial contribution. Activities supported during the current, and previous year, included promoting education/special education, health-care, employment enhancing vocational skills especially among children, women and the differently abled.
vii) The Company does not carry any provisions for CSR expenses for the current year and previous year;
viii) The Company intends to carry forward the excess amount of INR 9.19 lacs spent during the year (2023-24: INR 9.38 lacs).
45. Fair Value Measurement
Financial instrument by category
All financial assets and liabilities viz. trade receivables, security deposits, cash and cash equivalents, bank balances other than cash and cash equivalent, financial guarantee, interest receivable, trade payables, employee related liabilities and short term loans from banks, are measured at amortised cost.
Fair Value hierarchy
Financial assets and financial liabilities measured at fair value in the standalone financial statements are categorised into three levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:
Level 1: quoted prices (unadjusted) in active markets for identical financial instruments;
Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;
Level 3: if there are unobservable inputs for the asset or liability, then the instrument is included in level 3.
Valuation process and technique used to determine the fair value
i) Fair value through other comprehensive income
Investment in tax free bonds were valued at fair value which is based on direct and market observable inputs.
ii) Fair value through profit and loss
Investment in equity shares are valued at fair value which is derived on the basis of income approach. In this approach, the discounted cash flow method is used to capture the present value of the expected future economic benefits to be derived from the ownership of these investments.
The management assessed that for current assets including security deposits, loans, cash and cash equivalents, trade receivables, other recoverable and borrowings, trade payables, other current financial liabilities, the fair values approximate their carrying amounts largely due to the short-term maturities of these instruments. The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
(i) The Company has repaid all its term loans as on March 31, 2025 except ECB in the nature of term loan carrying fixed interest rate at 3.84% p.a. derived as EURIBOR plus margin (previous year: variable rate facilities which were subject to changes in underlying interest rate indices). The management believes that the carrying rate of interest on this loan is in close approximation from market rates applicable to the Company. Therefore, the management estimates that the fair value of this borrowing is approximate to its respective carrying values
Note: Investment in subsidiary as at the close of year ended March 31, 2025 and March 31, 2024 respectively is carried at cost, per the exemption availed by the Company; hence not considered herein.
The carrying value of the amortised financial assets and liabilities approximate to the fair value on the respective reporting dates.
ii) Risk management
The entity’s activities expose it to market risk, liquidity risk and credit risk. The entity board of directors has overall responsibility for the establishment and oversight of the entity’s risk management framework. "This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the standalone financial statements.
A. Credit Risk
Credit risk is the risk that a counterparty fails to discharge its obligation to the entity. The entity’s exposure to credit risk is influenced mainly by cash and cash equivalents, trade receivables and financial assets measured at amortised cost. The entity continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk controls.
Credit risk arises from cash and cash equivalents, trade receivables, investment carried at amortised cost and deposits with banks and financial institutions.
Credit risk management Credit risk rating
The entity assesses and manages credit risk of financial assets based on following categories arrived on the basis of assumptions, inputs and factors specific to the class of financial assets:
i) Low credit risk; ii) Moderate credit risk and iii) High credit risk on financial reporting date
Based on business environment in which the entity operates, there have been no defaults on financial assets of the entity by the counterparty.
Assets are written off when there is no reasonable expectation of recovery, such a debtor declaring bankruptcy or a litigation decided against the entity. The entity continues to engage with parties whose balances are written off and attempts to enforce repayment. The entity does not have any of the debts which are recoverable.
Cash and cash equivalents and bank deposits
Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated banks and diversifying bank deposits and accounts in different banks across the country.
Trade receivables
The Company closely monitors the credit-worthiness of the debtors through internal systems for corporate customers, thereby, limiting the credit risk. The Company assesses increase in credit risk on an ongoing basis for amounts receivable that become past due and default is considered to have occurred when amounts receivables become one year past due.
Plan assets
The Company has taken Group Gratuity Insurance Policy from LIC of India for funding of its employees benefit obligations, LIC of India generally invests in securities of high credit rating.
Other financial assets measured at amortised cost
Other financial assets measured at amortised cost includes loans and advances to employees, security deposit and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in place ensure the amounts are written defined limits.
Expected credit risk losses for financial assets other than trade receivables
Company provides for expected credit losses on loans and advances by assessing individual financial instruments for expectation of any credit losses. Since this category includes loans and receivables of varied natures and purpose, there is no trend that the Company can draw to apply consistently to entire population. For such financial assets, the Company’s policy is to provide for 12 month expected credit losses upon initial recognition and provides for lifetime expected credit losses upon significant increase in credit risk. The Company does not have any expected loss based impairment recognised on such assets considering their low credit risk nature.
Expected credit loss for trade receivables under simplified approach
The Company recognizes life-time expected credit losses on trade receivables using a simplified approach, wherein Company has defined percentage of provision by analyzing historical trends of default. There have been no significant past due trade receivables as Company receives its significant revenue from selling to major customers directly, wherein there are very low or no chances of non-recoverability. For the rest of operations there were no significant past due receivables.
B. Liquidity Risk
Ultimate responsibility for liquidity risk management rests with the Board of Directors of the Company. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. Management monitors rolling forecasts of the Company’s liquidity position and cash and cash equivalents on the basis of expected cash flows.
C. Market Risk
Foreign currency risk
The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to the US Dollar and Euro. Foreign exchange risk arises from recognised assets and liabilities denominated in a currency that is not the functional currency of the Company. Considering that part of the borrowings are in foreign currency and also purchases are made in foreign currency, the Company’s exposure to foreign currency at each reporting date is disclosed herein.
Interest rate risk Liabilities
The Company’s policy is to minimise interest rate cash flow risk exposures on long-term financing. At March 31, 2025, the Company is exposed to changes in market interest rates through bank borrowings at variable interest rates. The Company's ECB borrowings and the investments in Fixed Deposits bear fixed interest rates.
Assets
The Company's fixed deposits are carried at amortised cost and are fixed rate deposits. They are therefore not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rate.
Capital management policies and procedures
For the purpose of the Company's capital management, capital includes issued equity share capital and all other equity reserves attributable to the equity holders.
The Company's capital management objectives are
- to ensure the Company's ability to continue as a going concern
- to provide an adequate return to shareholders
Management assesses the Company's capital requirements in order to maintain an efficient overall financing structure. This takes into account the subordination levels of the Company's various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.
47. Leases
a. The Company has adopted Ind AS 116 -‘Lease' from April 1, 2019, which resulted in changes in accounting policies in the standalone financial statements.
b. The weighted average lessee's incremental borrowing rate applied for the lease liabilities is 11.25%.
c. Each lease generally imposes a restriction that, unless there is a contractual right for the Company to sublet the asset to another party, the right-of-use asset can only be used by the Company. Leases are either non-cancellable or may only be cancelled by incurring a substantive termination fee. The Company is prohibited from selling or pledging the underlying leased assets as security. For lease over office building the Company must keep the property in a good condition of repair and return the property in the original condition at the end of the lease.
F. Contract asset is the right to consideration in exchange for goods or services transferred to the customer.
Contract liabilities are on account of the advance payment received from customers for which performance obligation has not yet been completed.
The performance obligation is satisfied when control of the goods or services are transferred to the customers based on the contractual terms. The Company does not have any remaining performance obligation as contracts entered for sale of goods are for a shorter duration. Further, there are no contracts for sale of services wherein, performance obligation is unsatisfied to which transaction price has been allocated.
Payment terms with customers vary depending upon the contractual terms of each contract and generally falls within 120 days from the completion of performance obligation.
49. a) During the previous year, the Company issued and allotted 14,35,750 warrants at a price of INR 975 each, each warrant carrying a right upon being fully paid up within a period of 18 months from date of allotment to subscribe to one equity share of face value INR 10 of the Company (including premium of INR 965 each). (Allotment money - INR 48,99.50 lacs, being 35% of the total warrant price was received in January 2024).
Following exercise of the option on payment of the balance 65% payable on warrants, the Company during the year ended March 31, 2025, issued and allotted 110,000, 50,000, 30,750, and 75,000 equity shares of INR 10 each at a premium of INR 965 per share to Sri Ashish Kacholia, Sri Paulastya Sachdev, M/s Janardhan Trading Co. Limited and M/s Central India General Agents Limited respectively. The net proceeds were utilised for the purposes as stated in the Placement Document with INR 62,41.69 lacs temporarily placed in bank deposits of the Company and its wholly owned subsidiary pending utilisation as at March 31, 2025.
b) During the previous year, the Company issued and allotted 13,62,397 equity shares of INR 1101 per equity share (FV of INR 10 each, including a premium of INR 1091 per equity share) aggregating to INR 149,99.99 lacs by way of Qualified Institutions Placement ('QIP'). The net proceeds were utilised for the purposes as stated in the Placement Document with INR 2,61.83 lacs temporarily placed in bank deposits pending utilisation as at March 31, 2025.
51. Significant events after the reporting period
The Board of Directors in their meeting held on May 29, 2025 has recoimmended a dividend of INR 2.00 per share for the year 2024-25, (March 31, 2024 - INR 2.00 per share) subject to approval by the shareholders at the ensuing Annual General Meeting of the Company; No liability has been recognised as at March 31, 2025 (Nil as at March 31, 2024).
There were no other significant adjusting events that occurred subsequent to the reporting period other than events disclosed in the relevant notes.
52. The Ministry of Corporate Affairs (MCA) has issued a notification "Companies (Accounts) Amendment Rules, 2021” which is effective from April 1, 2023, and which states that every company which uses accounting software for maintaining its books of account shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and further creating an edit log of each change made to books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled. The new requirement is applicable with effect from the financial year beginning on April 1, 2023.
The Company uses three accounting software for the maintenance of its books of account. During the current financial year, the Company has used an accounting software for maintaining its books of account which does not have a feature of recording audit trail (edit log) facility. Further, the other accounting software used by the Company for maintaining its books of account have feature of audit trail (edit log) facility and the same was enabled at the application level. During the year ended 31 March 2025, the Company has not enabled the feature of recording audit trail (edit log) at the database level for the said accounting software to log any direct data changes.
The audit trail has been preserved by the Company as per the statutory requirements for record retention from the date the audit trail was enabled for the accounting software.
53. During the previous year, Company acquired, for INR 135.75 lacs, 26% of the issued equity share capital of TP Mercury Limited to source solar power through open access under the Group Captive Scheme for the Company’s Ranjangaon unit. The investment has been accounted as a financial asset measured at fair value through profit and loss in accordance with IND AS 109.
The supply of lower cost solar energy by TP Mercury Limited has commenced from October 1, 2024.
54. A wholly-owned subsidiary, “Xpro Dielectric Films FZ-LLC”, has been incorporated on May 21, 2024, as a Limited Liability Company in the Free (trade) Zone, in the emirate of Ras al Khaimah, UAE (“RAK”).
The Company on behalf of its subsidiary has issued Corporate Guarantee in favour of Ausfuhrkredit-Gesellschaft mbH (”AKA”) Bank for providing ECB, taken for the purpose of capital expenditure amounting Euro 23,724,293.40 (equivalent INR 2,18,85.66 lacs). As per Ind AS 109 “Financial Instruments”, the present value of cost of financial guarantee amounting to INR 14,77.62 lacs has been recognised as part of investment in the subsidiary company.
55. Information on details of loans, guarantees and investments under section 186 of the Act read with Companies (Meetings of Board and its Powers) Rules, 2014
a. Details of investments made are given in note 8.
b. Corporate guarantees issued for the loan taken by the subsidiary company and outstanding in accordance with Section 186 of the Act read with rules issued thereunder:
56. Additional Regulatory Information:
a) There are no immovable properties where the title deeds are not held in the name of the Company (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company);
b) There are no loans or advances in the nature of loans granted to promoters, directors, KMPs and related parties, either severally or jointly with another person, that are (i) repayable on demand or (ii) without specifying any terms or period of repayment;
c) The Company does not have any Benami property, and no proceedings have been initiated or is pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988;
d) The Company has been regular in filling quarterly returns or statements of current assets with banks and those are in agreement with the books of accounts;
e) The Company has not been declared a wilful defaulter by any bank or financial institution;
f) The Company has no transactions with companies struck off under Sec.248 of the Companies Act, 2013 or Sec. 560 of the Companies Act, 1956;
g) The Company does not have any charges or satisfaction yet to be registered with ROC beyond the statutory period;
h) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year;
i) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017;
j) The Company has adopted cost model for its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.
k) The Company does not have any scheme of arrangement which needs to be accounted for in the books of accounts of the Company;
l) The Company has not advanced, loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company or (ii) provide any guarantee, security or the like to or on behalf of the Company;
m) The Company has not received any funds from any person(s) or entity(ies), including foreign entities with the understanding (whether recorded in writing or otherwise) that the Company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company or (ii) provide any guarantee, security or the like to or on behalf of the Company;
n) The Company does not have any such 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.
57. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment had released draft rules for the Code on Social Security, 2020 on November 13, 2020, and invited suggestions from stakeholders which are under consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified. The Company will give appropriate impact in its standalone financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
58. Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current period's classification/disclosure. Reclassification were due to changes in presentation/classification of items under paragraph 41 of IND AS 1. The impact of such regrouping/reclassification are not material to standalone financial statements.
59. The audited standalone financial results along with the report thereon are also available on the Company's website www.xproindia.com and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).
60. The standalone financial statements were approved for issue by the Board of Directors at their meeting held at New Delhi on May 29, 2025.
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