7. Provisions:
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 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
8. Property, Plant and Equipment:
Freehold land is carried at historical cost. All other items of property, plant and equipment are stated at
historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the
acquisition of the items. Cost may also include transfers from equity of any gains or losses on qualifying
cash flow hedges of foreign currency purchases of property, plant and equipment. Subsequent costs are
included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item will flow to the Company and the cost of the
item can be measured reliably. The carrying amount of any component accounted for as a separate asset is
derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the
reporting period in which they are incurred.
9. Depreciation:
Depreciation is calculated using the straight-line method to allocate their cost, net of their residual values,
over their estimated useful lives. The residual values are not more than 5% of the original cost of the asset.
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each
reporting period.
An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying
amount is greater than its estimated recoverable amount.
Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are
included in profit or loss within other gains/ (losses).
10. Capital Work-in-Progress
The cost of self-constructed assets includes the cost of materials & direct labour, any other costs directly
attributable to bringing the assets to the location and condition necessary for it to be capable of operating in
the manner intended by management and borrowing costs.
Expenses directly attributable to construction of property, plant and equipment incurred till they are ready
for their intended use are identified and allocated on a systematic basis on the cost of related assets.
11. Statement of Cash Flows
Cash Flow Statement has been prepared in accordance with the Indirect method prescribed in Ind AS 7
‘Statement of Cash Flows’.
12. Inventories:
i ) Raw Material ,stores & spares are valued at cost.
ii ) Finished goods are valued at lower of cost or net realizable value.
iii ) Work in Progress are valued at estimated cost.
13. Financial assets measured at fair value:
Financial assets are measured at ‘Fair value through other comprehensive income’ (FVOCI) if these
financial assets are held within a business model whose objective is to hold these assets in order to collect
contractual cash flows or to sell these financial assets and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.
The Company in respect of equity investments (other than in subsidiaries, associates and joint ventures)
which are not held for trading has made an irrevocable election to present in other comprehensive income
subsequent changes in the fair value of such equity instruments. Such an election is made by the Company
on an instrument by instrument basis at the time of initial recognition of such equity investments. Financial
asset not measured at amortized cost or at fair value through other comprehensive income is carried at ‘Fair
value through the statement of profit and loss’ (FVPL).
14. Income Taxes:
Income Tax Expense comprises Current and Deferred Tax. Current Tax is the expected tax payable on the
taxable income for the year, using tax rates enacted or substantively enacted and as applicable at the
reporting date, and any adjustment to tax payable in respect of previous years. Current Income Taxes are
recognised under ‘Income Tax payable’ net of payments on account, or under ‘Tax receivables’ where there
is a debit balance. Deferred Tax is recognised using the Balance Sheet method, providing for temporary
differences between the carrying amounts of assets and liabilities for financial reporting purposes and the
amounts used for taxation purposes.
24. Contingent liabilities not provided in the accounts:
There was no Contingent Liability as on 31.03.2025.
25. Balance of sundry debtors, Creditors and loans and advances are subject to confirmation, reconciliation
and adjustment required, if any.
26. Disclosure required under Ind As-19 “Employee Benefits” are as under:
(i) The Company has recognized the expected liability of Gratuity as at 31st March, 2025 based on
actuarial valuation carried out using the Project Unit Credit Method.
(ii) The below disclosure has been obtained from independent actuary. The other disclosures are made
in accordance with Ind AS-19 pertaining to the Defined Benefit Plan is as given below:
29. The company mainly deals in yarns and Elastic tapes which are considered only one
segment of Textile Products therefore, disclosure of segment reporting pursuant to Ind AS -
108 is not required.
30. In view of the applicability of Ind AS -12 on “Accounting for Taxes of Income” issued by
the ICAI, Company does not have net deferred tax liability due to excess of deferred tax
Assets over deferred tax liability.
31. No Dividend declared in the current year.
32. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006
(MSMED ACT, 2006)
The Company does not have any dilutive potential equity shares. Consequently, the basic and
diluted earnings per share of the Company remain the same.
35. During the year ended March 31, 2025, the company has sold its Plant
and machineries at sale value at Rs.101.14 Lakhs at a loss of Rs 80.76
Lakhs resulting in the discountinuance of its operational activities. Due to
above exceptional matter limited income has been generated in the current
year
36. Pursuant to the provisions of the Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 2011, an Open Offer has been made by
Tarunkumar Gunvantlal Patel, Vedant Tarunbhai Patel, Vishal Prakashbhai Ashara, Keval
Jayanti Khudai and Nileshbhai Bhagvanji Bapodara for acquisition of up to 11,40,646 equity
shares representing 26% of the total paid-up equity share capital of the Company at a price
of K 60/-per share.
The open offer was triggered due to execution of the share purchase agreement by the
acquirers on dated 20/12/2024 to purchase 31,82,900 equity shares consisting 72.55% of
the fully paid up equity shares at a consideration of Rs.60/- per equity share and was
formally announced through a public announcement dated 17/03/2025 after getting
approval from SEBI.
• The open offer does not result in any direct impact on the financials of the Company.
• No accounting entry is required in the books of the company.
Disclosure & Compliance:
The Company has complied with all statutory disclosure requirements with stock exchanges
and SEBI.
• The Company continues to operate as a going concern with no impact on daily
operations or management as on the date of this note.
37. There are no significant subsequent events that would require adjustments or disclosures in
the financial statements as on the Balance Sheet date.
Note
1. Due to increase in current Investment and reduction of current liabilities , there is increase
current ratio in current year as compared to previous year.
2. Due to decrease in Operating revenue and exceptional Loss of Rs 110.91 Lakhs during
current year as compared to previous year exceptional gain of Rs 303.04 Lakhs,there is
decrease in Return on Equity ratio,Net Profit Ratio and Return on capital employed ratio .
3. Due to increase in Cost of goods and decrease in average inventory , there is increase in
inventory turnover ratio in current year as compared to previous year.
4. Due to decrease in operating revenue and increase in working capital due to increase in
current investment , there is decrease in capital turnover ratio in current year as compared to
previous year
*During current year , Net Profit after Tax includes exceptional Loss of Rs 110.91 Lakhs as
against exceptional gain of Rs 303.04 Lakh(net of tax) during the previous year
** During current year , earing Before Tax includes exceptional loss od Rs 110.91 lakhs as
against exceptional gain of Rs 367.42 Lakhs during previous year .
39. Previous year figures have been regrouped / rearranged wherever is necessary.
AS PER OUR REPORT OF EVEN DATE ATTACHED FOR AND ON BEHALF OF THE BOARD OF
DIRECTORFOR K K JHUNJHUNWALA & CO. JATTASHANKAR INDUSTRIES LIMITED
CHARTERED ACCOUNTANTS
FIRMS REG. NO. 111852W. Sd/- Sd/-
Sd/- JATTASHANKAR PODDAR SHARAD PODDAR
(Managing Director) ( Director)
SURENDRA SUREKA DIN : 00335747 DIN : 00335806
PARTNER Sd/- Sd/-
M. NO. 119433 ANKUR S. PODDAR Varsha Maheshwari
PLACE : MUMBAI. (Chief Financial Officer) (Company Secretary)
Date 30/05/2025
UDIN -25119433BMHPSZ2006
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