3.11 Provisions and Contingent Liabilities
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance Sheet date.
If the effect of the time value of money is material, provisions are discounted to reflect its present value using a current pre¬
tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. When
discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of
the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount cannot be made.
3.12 Cash flow statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a
non - cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating,
financing and investing activities of the Company are segregated.
3.13 Earnings Per Share
Basic earnings per share is computed by dividing the net profit for the period attributable to the equity shareholders of the
Company by the weighted average number of equity shares outstanding during the period. The weighted average number of
equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other
than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a
corresponding change in resources.
For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential
equity shares.
3.14 Foreign Currencies
Foreign currency transactions are translated into the functional currency using exchange rates at the date of the transaction.
Foreign exchange gains and losses from settlement of these transactions are recognised in the Statement of Profit and Loss.
Foreign currency denominated monetary assets and liabilities are translated into functional currency at exchange rates in
effect at the balance sheet date, the gain or loss arising from such translations are recognised in the statement of profit & loss.
3.14 Employee Benefits
Defined contribution plans
Contributions to defined contribution schemes such as employees' state insurance, labour welfare fund, superannuation
scheme, employee pension scheme etc. are charged as an expense based on the amount of contribution required to be made
as and when services are rendered by the employees. Company's provident fund contribution, in respect of certain
employees, is made to a government administered fund and charged as an expense to the Statement of Profit and Loss. The
above benefits are classified as Defined Contribution Schemes as the Company has no further defined obligations beyond the
monthly contributions.
Defined benefit plans
The Company provides for retirement/post-retirement benefits in the form of gratuity, and compensated absences, in respect
of certain employees. All defined benefit plans obligations are determined based on valuations, as at the Balance Sheet date,
made by independent actuary using the projected unit credit method. The classification of the Company's net obligation into
current and non-current is as per the actuarial valuation report.
For defined benefit plans, the amount recognised as 'Employee benefit expenses' in the Statement of Profit and Loss is the
cost of accruing employee benefits promised to employees over the year and the costs of individual events such as
past/future service benefit changes and settlements (such events are recognised immediately in the Statement of Profit and
Loss). The amount of net interest expense calculated by applying the liability discount rate to the net defined benefit liability
or asset is charged or credited to 'Finance costs' in the Statement of Profit and Loss. Any changes in the liabilities over the
year due to changes in actuarial assumptions or experience adjustments within the plans, are recognised immediately in
'Other comprehensive income' and subsequently not reclassified to the Statement of Profit and Loss.
3.15 Financial instruments
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument.
The Company derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when
it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. The
Company derecognises financial liabilities when, and only when, the Company's obligations are discharged, cancelled or
have expired.
A. Financial Assets
On initial recognition, a financial asset is recognised at fair value. In case of financial assets which are recognised at fair value
through profit and loss (FVTPL), its transaction cost is recognised in the statement of profit and loss. In other cases, the
transaction cost is attributed to the acquisition value of the financial asset. Financial assets are subsequently classified and
measured at - Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial
liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted
from the fair value measured on initial recognition of financial asset or financial liability. In case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost is recognised in the statement of profit and loss.
In other cases, the transaction cost is attributed to the acquisition value of the financial asset. Financial assets are
subsequently classified and measued at:
- amortised cost
- fair value through other comprehensive income (FVOCI)
- fair value through profit and loss (FVTPL)
Financial assets are not reclassified subsequent to their recognition, except during the period the Company changes its
business model for managing financial assets.
[a] Cash and cash equivalents
Cash and cash equivalents are cash, balances with bank and short-term (three months or less from the date of acquisition),
highly liquid investments that are readily convertible into cash and which are subject to an insignificant risk of changes in
value.
[b] Trade Receivables and Loans
Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost, using the
effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that discounts estimated future cash
income through the expected life of financial instrument.
[c] Debt Instruments
Debt instruments are initially measured at amortised cost, fair value through other comprehensive income ('FVOCI') or fair
value through profit or loss ('FVTPL') till derecognition on the basis of (i) the company's business model for managing the
financial assets and (ii) the contractual cash flow characteristics of the financial asset.
[i] Measured at amortised cost:
Financial assets that are held within a business model whose objective is to hold financial assets in order to collect contractual
cash flows that are solely payments of principal and interest, are subsequently measured at amortised cost using the effective
interest rate ('EIR') method less impairment, if any. The amortisation of EIR and loss arising from impairment, if any is
recognised in the Statement of Profit and Loss.
[ii] Measured at fair value through other comprehensive income (FVOCI):
Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and
collecting contractual cash flows that are solely payments of principal and interest, are subsequently measured at fair value
through other comprehensive income. Fair value movements are recognized in the other comprehensive income (OCI).
Interest income measured using the EIR method and impairment losses, if any are recognised in the Statement of Profit and
Loss. On derecognition, cumulative gain or loss previously recognised in OCI is reclassified from the equity to 'other income'
in the Statement of Profit and Loss.
[iii] Measured at fair value through profit or loss (FVTPL):
A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets are measured at
fair value with all changes in fair value, including interest income and dividend income if any, recognised as 'other income'
in the Statement of Profit and Loss.
[d] Equity Instruments:
All investments in equity instruments classified under financial assets are initially measured at fair value, the Company may,
on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.
The Company makes such election on an instrument by-instrument basis. Fair value changes on an equity instrument is
recognised as 'other income' in the Statement of Profit and Loss unless the Company has elected to measure such instrument
at FVOCI. Fair value changes excluding dividends, on an equity instrument measured at FVOCI are recognised in OCI.
Amounts recognised in OCI are not subsequently reclassified to the Statement of Profit and Loss. Dividend income on the
investments in equity instruments are recognised as 'other income' in the Statement of Profit and Loss.
Impairment of Financial Asset
The Company applies expected credit loss (ECL) model for measurement and recognition of loss allowance on the following:
i. Trade receivables
ii. Financial assets measured at amortized cost (other than trade receivables)
iii. Financial assets measured at fair value through other comprehensive income (FVTOCI)
In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is
measured and recognized as loss allowance.
In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk
of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal
to 12-month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an
amount equal to lifetime ECL is measured and recognized as loss allowance.
Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit
risk since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.
ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the Company expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.
Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial asset.
12-month ECL are a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date.
ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.
As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on its portfolio of trade receivables.
The provision matrix is prepared based on historically observed default rates over the expected life of trade receivables and is
adjusted for forwardlooking estimates. At each reporting date, the historically observed default rates and changes in the
forward-looking estimates are updated.
ECL allowance recognised (or reversed) during the period is recognized as income/ expense in the Statement of Profit and
Loss under the head 'Other expenses'.
B. Financial Liabilities
Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value
through profit and loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities
are held at amortised cost, using the effective interest rate method.
Subsequent measurement
Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair
value through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit
and Loss.
* 5,467 1.5 % preference shares have been issued as fully paid up by way of bonus shares without payment being received in cash to the equity
shareholders of B&B Triplewall Containers Limited (formerly known as B&B Triplewall Containers Private Limited,) as at January 8, 2016 in terms
of the scheme of amalgamation ('the Scheme') sanctioned by the High Court of Judicature at Karnataka vide Order dated January 8, 2016. Company
may redeem these preference shares after the completion of 3 years from the date of issue at it's option. There is no any redemption during the
current financial year.
** Details of securities given in respect of term loans from banks and its current maturities:
All the term loans from banks are primarily secured by first charge of hypothecation on / mortgage of the assets financed under the respective term
loans. Besides this, following assets are given as common collateral security for the term loans and short term borrowings from banks, namely, -
First and exclusive charge on movable fixed assets of the Company except the assets exclusively financed by other banks.
Freehold industrial property owned by the Company located at No. 86, KIADB Industrial Area, Bommasandra Jigani Link Road, Bangalore.
Freehold industrial property owned by the Company located at Sy. No. 263 2/3, Marsur Madival Village, Near Attibele Industrial Area, Anekal
Taluk, Bangalore.
Freehold industrial property owned by the Company located at Sy No. 75 -1A2/1B1 & 73-2A Thyagarasanapalli (Shoolagiri) Hosur Taluk,
Krishnagiri District, TN .
Leasehold land Plot no B-8, B-12 to B-18 Sipcot Industrial Complex Bargur, Parandapalli Village, Pochampali Taluk, Krishnagiri District Tamil Nadu
635206.
Personal Guarantee of Promoters / Directors / KMP / Shareholders (Relatives of Directors / KMPs) of the equity shareholding namely Alok
Agarwal, Amit Agarwal, Manish Bothra, Nishant Bothra, Ravi Agarwal, Sidharth Agarwal, Manish Kumar Gupta.
The Rate of interest on term loans varies from 8.6% p.a to 13.5% p.a
** Details of security given in respect of term loans and it's current maturities from other parties:
The Company has acquired solar equipment on an Equated Monthly Installment (EMI) basis,. The liability arising from this arrangement has been
classified under borrowings as above. This facility has been a availed from ORB energy private limited secured by said solar equipment with rate of
interest 10.5% p.a and repayable in 59 equated monthly installments.
*** Terms & Conditions for Inter Corporate Borrowing
a) Outstanding unsecured inter corporate loan of Rs.3000 Lakhs is from Anjaney Ferro Alloys Ltd repayable in financial year 2026-27. Out of which
Rs. 2000 lakhs carries rate of interest at 11.75% p.a and rest 1000 lakhs carries at 11.25% p.a.
b) The remaining outstanding of Rs.47.01 Lakhs inter corporate loan is from Amit Packs Private Limited (related party) which is unsecured and it
carries rate of interest at 15% p.a.
Interest is payable at the end of each financial year.
**** Terms & Conditions for Loans & Advances from related parties and directors
Loans and Advances from related parties and directors are repayable after 31st March 2026, These loans carries rate of interest at 15%p.a,
Interest is payable at the end of each financial year.
* Working Capital Loans from Banks are secured by the following assets:
Hypothecation of all the current assets of the Company comprising, inter alia, of inventories of raw material, work-in-progress and finished goods,
trade receivables, book debts and other current assets.
Common collateral securities are given in respect of the term loans (see Note 18 above on Non-Current Borrowing) and working capital loans from
banks. Please refer sub-note under Note 18 above on Long Term Borrowings for details of common collateral securities given in respect of the
Working Capital Loans From Banks.
These loans carries floating interest rate, 9% linked to repo rate Spread 2.5% to 10.3% linked to MCLR 1 month Spread 2.77%.
** Loans from other party is taken from Bajaj Finance Limited (NBFC) which is secured by following assets:
First Pari Passu charge on Present and Future Current Assets of the company, Second Pari Passu charge on Present and Future Fixed Assets of the
company, Unconditional and irrevocable Personal Guarantee from the Promoters, Demand Promissory note and Letter of Continuity, Personal
Guarantee of Mr. Manish Gupta, Mr. Ravi Agarwal, Mr. Manish Bothra and Mr. Alok Aggarwal.
These loan carries floating interest rate , Present it is 8.8% p.a.
*** Out of total current maturities of long term debt Rs. 1437.40 Lakhs are from banks and remaining 15.55 Lakhs is of current maturity of term loan
availed from ORB energy Pvt ltd.
Note: 46
Ind AS-108 Operating Segments
Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the chief operating
officer i.e. Managing director of the company.
On review of operations, it is identified that the company has only one segment.
Information about products and services
B&B Triplewall Containers Limited manufactures and supplies paper container packaging products. The Company offers corrugated box, boards, and sheets.
Information about major customers
Above 10% sales or purchases to one person
There are two companies from which the company earns more than 10% of its revenue.
Note: 50
Balances in parties' accounts are subject to confirmation and reconciliation.
Note: 51
Cash Flow Statement has been prepared using the In-direct Method prescribed in Indian Accounting Standard- 7 issued under Companies (Accounts) Rules, 2014.
Note: 52
There is no impairment to assets as per Indian Accounting Standard 36 issued by Companies (Accounting Standard) Rules, 2014. Consequently, there is no impairment
loss debited to Profit and Loss account.
Note: 53
The Company has classified certain class of security deposits such as electricity, telephone, and other similar deposits as non-current financial assets, as they are
refundable only upon discontinuation of the related services and are not expected to be realized within 12 months from the reporting date.
In accordance with Ind AS 109 - Financial Instruments (Para 5.1.1 and B5.1.1), financial assets are initially measured at fair value. However, in this case, the difference
between the transaction value and fair value is not considered material due to the nature, amount, and expected duration of these deposits. Accordingly, the deposits
have been measured at transaction value.
Please note that the sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is
unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.
There is no change in the method of valuation for the prior period. For change in assumptions please refer below where assumptions for prior
period, if applicable, are given.
The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields / rates available on
applicable bonds as on the current valuation date.
The salary growth rate indicated above is the Company's best estimate of an increase in salary of the employees in future years, determined
considering the general trend in inflation, senority, promotions, past experience and other relevant factors such as demand and supply in
employment market, etc.
Attrition rate indicated above represents the Company's best estimate of employee turnover in future (other than on account of retirement, death
or disablement) determined considering various factors such as nature of business, retention policy, industry factors, past experience, etc.
The assumptions used in this Report, other than the rates of mortality, are the expectations of the Company for future years. The Company
acknowledges that it has been advised to consider the relevant factors (including historical trends, which may or may not be suitable for future
projections or may be suitable only after certain adjustments / modifications) in determination of assumptions.
The Company has also been advised on the sensitivity of results to change in the chosen assumptions and experience variance / adjustments, Since
it is the Company's prerogative to decide on expected future trends and since the Company is best aware of the various factors affecting the future
trends, the assumptions given by the Company have been accepted.
Risk analysis
Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may vary over time. Thus,
the Company is exposed to various risks in providing the above gratuity benefit which are as follows:
Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate
cost of providing the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements).
Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts. This may arise due to non availabilty of
enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants
in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present
value of obligation will have a bearing on the plan's liabilty.
Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to
the risk of actual experience turning out to be worse compared to the assumption.
Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to
time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of Rs. 20 Lakhs).
Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of assets, exposing the Company to
market risk for volatilities/fall in interest rate.
Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.
2. Defined contribution plans:
A sum of Rs. 150.52 Lakhs has been charged to the Statement of Profit and Loss in respect of Company's contribution to provident fund and
employees state insurance.
Fair value of financial assets and financial liabilities measured at amortised cost :
The management believes that the fair values of non-current financial assets (e.g. loans and others),current financial assets (e.g., cash and cash equivalents, trade
receivables, loans and others excluding other derivative assets) and current financial liabilities (e.g. trade payables and other payables excluding derivative liabilities)
approximate their carrying amounts.
Note: 58
Financial Risk Management
The Company's activities are exposed to a variety of Financial risks from its operations. The Key financial risks include Credit Risk, Market Risk and Liquidity Risk.
The Company also uses derivative instruments on selective basis prudently to manage the volatility of financial markets and minismise the adverse impact on its
foinancial Performance in accordance Risk Management Policy Framework.
a) Credit Risk
Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due causing financial loss to the company. The
company is exposed to credit risk from its operating activities primarily arising from trade recerivables from customers and other financial instruments.
Customer Credit risk is managed as per the Company's established policy, procedures and control framework relating to customer credit risk management. The
company assesses the credit quality of the counterparties taking into account their financial position and credit worthiness, the age of specific receivable balance and
the current and expected collection trends, age of its contracts in progress, historically observed default over the expected life of trade receivables. Credit risk is also
actively managed to the extent feasible by securing payment through letter of credit, advance payment and bill discounting facility. The Company's exposure (
unsecured trade receivables ) and credit ratings of its counter parties are continously monitored and assessed while ensuring that the aggregate value of the
transaction is reasonably spread amongst counterparties. The company uses the expected credit loss model to assess the impairement allowance on trade receivables,
if any on the reporting date and accordingly applied the same for measurement and recognition of impairment losses on trade receivables.
Note: 59
Capital Management
The Company's primary objective with respect to capital management is to ensure continuity of business and support the growth of the Company while at the same
time provide reasonable returns to its various stakeholders and maximise shareholders value. In order to achieve these objectives, requirement of capital is reviewed
periodically with reference to operating and business plans that take into account capital expenditure and strategic investments. Sourcing of capital is done through
judicious combination of equity/ internal accruals and borrowings, both short term and long term. The capital structure is governed by policies approved by the
Board of Directors and the Company monitors capital by applying net debt (total borrowings less investments and cash and cash equivalents) to equity ratio. The
Company manages its capital structure and make adjustments in the light of changes in economic conditions and the requirements of financial covenants attached to
the interest bearing loans and borrowings that define capital structure requirements. No changes were made in the objectives, policies or processes for managing
capital during the year ended 31st March, 2025 or corresponding previous year.
Note: 61
Regrouping & Reclassification
The previous year figures have been regrouped/reclassified wherever necessary to facilitate comparison with current year's figures.
Note: 62
Other Statutory Information
a) The title deeds of all the immovable properties disclosed in the financials statements included under Property Plant and Equipment (Excluding right of
use assets) and Investment Properties are held in the name of the company as at the balance sheet date.
b) The Company has not revalued its Property, Plant and Equipment (including, right to use the asset) or intangible asset or both during the year.
c) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami
property.
d) The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a willful defaulter at any time during the
financial year or after the end of reporting period but before the date when the financial statements are approved.
e) The Company does not have any transaction with struck-off companies.
f) The Company does not have any charge or satisfaction of charge which is yet to be registered with the Registrar of Companies (ROC) beyond the statutory
period.
g) The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities(intermediaries), with the
understanding that the intermediary shall;
- 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
- Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
h) The Company does not have any transactions which are not recorded in the books of account but 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).
i) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
Note: 63
Other discosures
a) As per the MCA notification dated August 05, 2022, Companies (Accounts) Fourth Amendment Rules 2022. The books of accounts along with other
relevant records and papers of the companies are currently maintained in the electronic mode. These are readily accesible in india at all times and backup is
maintained on servers located in india, on daily basis.
b) The company is using accounting software that has an audit trail feature. The audit trail has been operated throughout the year for all transactions
recorded in the books of account and has not been tampered with. The audit trail has been preserved as per the statutory requirements.
c) The disclosures under additional reporting requirements, which are not applicable to the company are not disclosed in the current year financial
statements.
for and on behalf of the Board of Directors of As per our report of even date
B&B TRIPLEWALL CONTAINERS LIMITED FOR SURANA NAVEEN VIKASH & CO
Chartered Accountants
Firm's Registration No. 323231E
MANISH KUMAR GUPTA RAVI AGARWAL AMIT AGARWAL NAVEEN SURANA
Managing Director WTD & CFO CEO Partner
DIN: 03568502 DIN: 00636684 Membership No. 057841
UDIN: 25057841BMIKFZ4401
JAGRATI VARSHNEY
Company Secretary & Compliance Officer
Place : Bangalore Place : Bangalore
Date : 30 May 2025 Date : 30 May 2025
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