2.12 Provisions and Expenses
A provision is recognized when the Company has a
present legal or constructive obligation as a result
of a past event, and it is probable that an outflow
of economic benefits will be required to settle the
obligation and a reliable estimate can be made of the
amount of the obligation.
Costs and expenses are recognized when incurred and
have been classified according to their nature.
2.13 Income Taxes
Income tax comprises of current tax and deferred tax.
a. Current Tax
Current income tax for the current and prior
periods are measured at the amount expected
to be recovered from or paid to the taxation
authorities based on the taxable profit for the
period. The tax rates and tax laws used to compute
the amount are those that are enacted by the
reporting date and applicable for the period. The
Company offsets current tax assets and current
tax liabilities where it has a legally enforceable
right to set off the recognized amounts and where
it intends either to settle on a net basis, or to
realize the asset and liability simultaneously.
b. Deferred tax
Deferred tax is recognized on temporary
differences between the carrying amounts
of assets and liabilities in the Balance Sheet
and their tax bases. Deferred tax liabilities are
recognized for all taxable temporary differences.
Deferred tax assets are recognized for all
deductible temporary differences and incurred
tax losses to the extent that it is probable that
taxable profits will be available against which
those deductible temporary differences can be
utilized. Such deferred tax assets and liabilities
are not recognized if the temporary difference
arises from the initial recognition (other than in a
business combination) of assets and liabilities in a
transaction that affects neither the taxable profit
nor the accounting profit.
Deferred tax liabilities and assets are measured
at the tax rates that are expected to apply in the
period in which the liability is settled or the asset
realized, based on tax rates (and tax laws) that
have been enacted or substantively enacted by the
end of the reporting period.
The carrying amount of deferred income tax
assets is reviewed at each reporting date and
reduced to the extent that it is no longer probable
that sufficient taxable profit will be available to
allow all or part of the deferred income tax asset
to be utilized.
The Company recognizes deferred tax liabilities
for all taxable temporary differences except those
associated with the investments in subsidiaries
where the timing of the reversal of the temporary
difference can be controlled and it is probable that
the temporary difference will not reverse in the
foreseeable future.
2.14 Foreign currency Transactions
(a) Functional and presentation currency: Items
included in the financial statements are measured
using the currency of the primary economic
environment in which the entity operates ('the
functional currency'). The financial statements
are presented in Indian rupee (INR), which is the
Company's functional and presentation currency.
(b) Transactions and balances: On initial recognition,
all foreign currency transactions are recorded
by applying to the foreign currency amount the
exchange rate between the functional currency and
the foreign currency at the date of the transaction.
Gains/Losses arising out of fluctuation in foreign
exchange rate between the transaction date and
settlement date are recognized in the Statement of
profit and loss. All monetary assets and liabilities
in foreign currencies are restated at the year end
at the exchange rate prevailing at the year end
and the exchange differences are recognized in
the Statement of profit and loss. Non-monetary
items that are measured in terms of historical
cost in a foreign currency are translated using
the exchange rates at the dates of the initial
transactions.
3 CHANGES IN ACCOUNTING POLICIES AND
DISCLOSURES
(i) New standards and amendments issued but not
effective
There are no such standards which are notified
but not yet effective, relevant to the Company.
6.1 The Entity's investment properties consist of commercial properties in India given on lease for a period of 1-5 years.
6.2 The Entity has no restrictions on the realizability of its investment properties and no contractual obligations to purchase,
construct or develop investment properties or for repairs, maintenance and enhancements.
6.3 On May 07, 2024 the Company sold one of its Investment properties Gala No. 105, 106 & 107, Shreyas Building, Survey
No. 41, Off Link road, Oshiwara, Andheri(W), Maharashtra, 400053 to Siddhi Leela Properties at the sale consideration of
INR 101 Million. The book value of the aforesaid Property as on the date of sale was INR 7.10 Million (Net of Accumulated
Depreciation). The Company accounted for difference between the sale consideration and book value as gain on sale of
Investment property INR 93.90 Million. The Tax arising on account of the transaction was INR 23.64 Million. The Company
has disclosed the gain on account of this transaction (net of tax) amounting to INR 70.26 Million as an exceptional gain.
6.4 The fair value of investment property is INR Nil Million (refer 6.3 above) as at March 31, 2025 (March 31, 2024: INR
117.95 Million) as per valuations performed by external property valuers who holds a recognized and relevant professional
qualification and has recent experience in the location and category of the investment property being valued. The valuers
has followed market value approach and considers Value of similar structure at the same location and having similar
specifications including built up area.
Note:
1 In line with Circular No 04/2015 issued by Ministry of Corporate Affairs dated March 10, 2015, loans given to employees
as per the Company's policy are not considered for the purposes of disclosure under Section 186(4) of the Companies
Act, 2013.
2. There are no loans or advances in the nature of loans granted to Promoters, Directors, KMPs and their related
parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are:
(a) repayable on demand; or (b) without specifying any terms or period of repayment.
3 There are no loans which have significant increase in credit risk and which are credit impaired.18 Equity share capital
c) The Board of Directors approved the issuance of bonus equity shares, which was subsequently approved
by the shareholders in the meeting held on June 07, 2024. The bonus issue was in the ratio of 17 equity
share of INR 2 for every 1 equity shares of INR 2, by capitalizing the free reserves of the Company. A total
of 26,270,100 bonus shares were issued (Face Value of INR 2 each).
d) During the year, the Company issued fresh issue of equity shares 3,224,299 with a face value of INR 2 each.
(For IPO proceeds utilisation refer note 53)
(ii) Rights, preferences and restrictions attached to the equity shares:
The Company has only one class of equity shares having par value of INR 2 per share. Each shareholder is entitled
to one vote per share held. The Company declares and pays dividends in Indian rupees. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended March 31, 2025, the amount of per share dividend recognized as distributions to equity
shareholders was Nil (previous year: Nil).
I n the event of liquidation of the Company the holders of equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders.
Note:
As per records of the Company, including its register of shareholders/ members and other declarations received
from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial
ownerships of shares.
(iv) The Company has not issued any bonus shares or shares for consideration other than cash during the period of
five years immediately preceding the reporting date except note 18A(i)
(v) The Company has not bought back any shares during the period of five years immediately preceding the current
year end.
(ii) Rights, preferences and restrictions attached to the preference shares:
Each shareholder is eligible to vote in the ratio of their shareholding. The holders of CCPS shall be entitled to
vote on all such matters which affect their rights directly or indirectly.
The Investor Shares shall rank senior to the preference shares and other instruments that are outstanding
and which may be issued by the Company from time to time in all respects including but not limited to voting
rights, dividends and liquidation/ liquidity preference and bonus issuances. The holders of Series A CCPS shall
be entitled to all superior rights or other rights that may be given to any other investor, if any in the future.
The Series A CCPS shall carry a pre-determined cumulative dividend rate of 0.0001% (zero point zero zero zero
one per cent) per annum. In addition to the same, if the holders of Equity Shares are paid dividend in excess of
0.0001% (zero point zero zero zero one per cent) per annum, the holders of the Series A CCPS shall be entitled
to dividend at such higher rate.
The holder of the Series A CCPS shall have the right to be first paid, in priority to the other Shareholders and all
other classes of preference shareholders, any declared but accrued and unpaid dividends.
The holders of Investor CCPS shall, at any time prior to 19 (nineteen) years from the date of issuance of the same,
be entitled to call upon the Company to convert all or any of the Investor CCPS and if not converted earlier, shall
automatically convert into Equity Shares at the fixed conversion rate (1:0.9147), (i) on latest permissible date
prior to the issue of Shares to the public in connection with the occurrence of a Public Offer under Applicable
Law, or (ii) on the day following the completion of 19 (nineteen) years from the date of issuance of the same.
20.3 Non-current Borrowings
a. Secured term loans
(i) Car loan from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 0.76 Million) was taken Vehicle
Loan from ICICI bank limited. The loan is secured by hypothecation of the said vehicle.
(ii) Car loan from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 1.83 Million) was taken Vehicle
Loan from ICICI bank limited. The loan is secured by hypothecation of the said vehicle.
(iii) Car loan from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 0.89 Million) was taken Vehicle
Loan from ICICI bank limited. The loan is secured by hypothecation of the said vehicle.
(iv) Term loan from Financial Institutions as on March 31, 2025 amounting to Nil (March 31, 2024: INR 101.69
Million) was taken from Tata capital financial services limited which is secured against the following properties:
- Industrial gala No 202 and part of Industrial gala No 203 on second floor in the building known as Shreyas
Industrial Estate situated at Off link road, Andheri(west) Mumbai-400053 owned by Mr Parth
Rajesh Khakhar, Mr Kunal Kamlesh Merchant and Mrs. Bhavi Sameer Merchant.
- Part of Industrial gala No 203 on second floor in the building known as Shreyas Industrial Estate situated
at Off link road, Andheri(west) Mumbai-400053 owned by Mr Parth Rajesh Khakhar, Mr Kunal Kamlesh
Merchant and Mrs. Bhavi Sameer Merchant.
- Office no 103 on 1st floor, Wing C in the building known as Akruti Arcade C.H.S. limited, Andheri(west),
Mumbai-400053.
(v) Term Loan from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 7.05 Million) was taken from
ICICI bank which is secured against the following:
- Survey No 18, Ghodbunder Bhayander (E), Thane, Maharashtra, India, 401107
- Current Assets of Company with the Personal Guarantee of 1) Jigna Khakhar, 2) Rajesh Khakhar, 3) Sameer
Merchant
(vi) Term Loan from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 3.93 Million) was taken from
ICICI bank which is secured against the following:
- Gala No 105/106/107 Shreyas Industrial Estate, off link road, Andheri West, Mumbai - 400053
- 410/411,4th floor Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India, 400053
- 601-609, 6th floor, Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India, 400053
- Survey No 18, Ghodbunder Bhayander (E), Thane, Maharashtra, India, 401107
- Current Assets of Company with the Personal Guarantee of 1) Jigna Khakhar, 2) Rajesh Khakhar, 3) Sameer
Merchant
- Corporate Guarantee of ASY Properties LLP
(vii) Term Loan from bank as on March 31, 2025 amounting to Nit (March 31, 2024: 15.18 Million) was taken from
standard chartered bank against the security of property of Director situated at Flat No 88, Tarapore garden
CHSL, Off New Link Road, Oshiwara, Andheri West Mumbai - 400053.
b. Secured Emergency credit line (ECL)
(i) ECLGS Term Loan as on March 31, 2025 amounting to Nil (March 31, 2024: INR 6.29 Million) was taken from
ICICI Bank Limited which is secured against the existing securities created in favour of ICICI bank limited.
20.4 Current Borrowings
c. Working Capital demand loan (Secured)
(i) Working capital demand loan from Financial Institutions as on March 31, 2025 amounting to Nil (March 31,
2024: INR 20 Mi11ion)was taken from Capsave Finance Private limited secured against
* NACH mandate and 3 * UDC for an amount equal to sanction amount, 10% cash collateral in form of non¬
interest bearing security deposit and personal guarantee of Mr. Rajesh Khakhar and Mr. Sameer Merchant.
(ii) Working capital demand loan from bank on March 31, 2025 amounting to Nil (March 31, 2024: INR 40 Million)
was taken from ICICI bank limited which is secured against the following:
- Gala No 105/106/107 Shreyas Industrial Estate, off link road, Andheri West, Mumbai - 400053
- 410/411,4th floor, Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India, 400053
- 601-609, 6th floor, Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India, 400053
- Survey No 18, Ghodbunder, Bhayander (E), Thane, Maharashtra, India, 401107
- Current Assets of Company with the Personal Guarantee of 1) Jigna Khakhar, 2) Rajesh Khakhar, 3) Sameer
Merchant
- Corporate Guarantee of ASY Properties LLP
d. Cash Credit facility (Secured)
(i) Cash Credit from bank as on March 31, 2025 amounting to Nil (March 31, 2024: INR 137.16 Million) was taken
from ICICI bank limited which is secured against the following:
- Gala No 105/106/107 Shreyas Industrial Estate, off link road, Andheri West, Mumbai - 400053
- 410/411,4th floor, Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India, 400053
- 601-609, 6th floor, Akruti arcade, Opp A H Wadia School, Mumbai, Maharashtra, India,400053
- Survey No 18, Ghodbunder, Bhayander (E), Thane, Maharashtra, India,401107
- Current Assets of Company with the Personal Guarantee of 1) Jigna Khakhar, 2) Rajesh Khakhar, 3) Sameer
Merchant
- Corporate Guarantee of ASY Properties LLP
Note :
1 Weighted average number of equity shares includes 2,90,597 Compulsorily Convertible Preference Shares (CCPS)
convertible in the ratio of 1:0.915 .i.e. 2,65,805 equity shares. Each CCPS is a compulsorily and fully convertible
preference share, convertible into Equity Shares, as per the terms and conditions as laid out in agreement with CCPS
holder Therefore, CCPS were classified in accordance with Ind AS 32 as equity.
2 Refer Note 18 A(i) (a),(b)and (c), regarding details of Split of equity shares, issue of Bonus Shares and Private
Placement. Effect of same has been considered while calculating the Weighted Average Number of equity shares.
3 On June 07, 2024, the Board of Directors approved the sub-division of each equity share of face value INR 10 fully paid
up into 5 equity shares of face value INR 2 fully paid up. Consequently, the number of equity shares has increased
from 309,060 shares of face value INR 10 each to 1,545,300 shares of face value INR 2 each.
4 Further, the Board of Directors, in their meeting held on June 07, 2024, approved the issue of bonus equity shares in
the ratio of 1 equity share of INR 2 each for every 17 equity shares of INR 2 each by capitalization of the free reserves
of the Company. As a result, 15,45,300 equity shares have been subdivided into 2,62,70,100 equity shares.
5 During the quarter the Board of Directors and Shareholders of the Company has approved the Employee Stock
Option Plan 2024 (”ESOP 2024") for the employees of the Company and its subsidiary companies comprising of
equity shares of the Company not exceeding 5,00,000 equity shares of face value of INR 2/- each. The Company has
granted 3,51,672 equity shares of face value of INR 2/- each on December 14, 2024 to its eligible employees. Effect
same has been considered while calculating the Dilutive effect of Weighted average Number of equity shares.
40 EMPLOYEE BENEFITS OBLIGATIONS
(I) Defined contributions plans - provident fund and others
The Company makes contribution towards employees' Provident Fund and other defined contribution plans. Under
the schemes, the Company is required to contribute a specified percentage of payroll cost, as specified in the rules
of the schemes, to these defined contribution schemes.
The sensitivity analysis have been determined based on reasonably possible changes of the respective
assumptions occurring at the end of the reporting period, while holding all other assumptions constant.
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.
Furthermore, in presenting the above sensitivity analysis, the present value of the Defined Benefit
Obligation has been calculated using the projected unit credit method at the end of the reporting period,
which is the same method as applied in calculating the Defined Benefit Obligation as recognized in the
balance sheet. 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 was no change in the methods and assumptions used in preparing the sensitivity analysis from prior
years.
C Credit risk
Credit risk arises from the possibility that customers may not be able to settle their obligations as agreed. Trade
receivables are typically unsecured and are derived from revenue earned from customers located in India. Credit risk
is managed through periodic assessment of the financial reliability of customers, taking into account the financial
condition, current economic trends, analysis of historical bad debts and ageing of trade receivables. Other financial
instruments that are subject to credit risk includes cash and cash equivalents, bank deposits, loans and security
deposits.
The Company uses Expected Credit Loss model to assess the impairment loss. The Company computes the
expected credit loss allowance as per simplified approach for trade receivables based on available external
and internal credit risk factors such as the ageing of its dues, market information about the customer and the
Company's historical experience for customers. The Company has used a practical expedient by computing the
expected credit loss allowance for trade receivables based on a provision matrix. The provision matrix takes into
account historical credit loss experience and is based on the ageing of the receivable days and the rates as given
in the provision matrix.
ii) The credit risk on cash and cash equivalents and bank deposits is limited because the counterparties are banks
with high credit ratings.
The maximum exposure to credit risk is equal to the carrying value of the financial assets. The objective of
managing counterparty credit risk is to prevent losses in financial assets. The Company assesses the credit
quality of the counterparties, taking into account their financial position, past experience and other factors.
iii) The Company does a credibility check on the landlords before taking any property on lease and hasn't had a
single instance of non-refund of security deposit on vacating the leased property. The Group also in some cases
ensure that the notice period rentals are adjusted against the security deposits and only differential, if any, is
paid out thereby further mitigating the non-realization risk.
D Foreign currency risk
The Company has limited international transactions and thus its exposure to foreign exchange risk arising from its
operating activities is low. Foreign exchange risk arises from future commercial transactions and recognized assets
and liabilities denominated in a currency that is not the Company's functional currency. To mitigate the Company's
exposure to foreign currency risk, non-INR Cash Flows are monitored in accordance with the Company's risk
management policies.
45 CAPITAL MANAGEMENT POLICIES AND PROCEDURES
For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and
all other equity reserves attributable to the equity holders. The primary objective of the Company's capital management
is to maintain a strong capital base to ensure sustained growth in business and to maximize the shareholders value and
to ensure the Company's ability to continue as a going concern. The capital management focuses to maintain an optimal
structure that balances growth and maximizes shareholder value.
The Company has not distributed any dividend to its shareholders. The Company monitors gearing ratio i.e. total debt in
proportion to its overall financing structure, i.e. equity and debt. Total debt comprises of non-current borrowing which
represents liability component of Convertible Preference Shares and current borrowing from ultimate holding company
of the Company. 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.
46 CORPORATE SOCIAL RESPONSIBILITY
The provision of section 135 of the Companies Act, 2013 are applicable to the Company. However, the Company does not
have adequate profits as computed under section 198 of the Companies Act, 2013 and hence, the Company is not required
to spend any amounts during the current financial year for Corporate Social Responsibility.
47 SHARE BASED PAYMENTS
Employee share option plan (ESOP)
The shareholder of the Company have vide their special resolution dated 16th August 2024 approved the Laxmi Dental
Employee Stock Option Scheme 2024 (“ESOP2024"/"Scheme")scheme authorizing the Board for granting Employee Stock
Options in form of equity shares linked to the completion of a minimum period of continued employment to the eligible
employees of the Company monitored and supervised by the Board of Directors. The employees can purchase equity
shares by exercising the options as vested at the price specified in the plan.
iii. Utilization of borrowed funds
No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities
(“Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend
or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).
The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company
shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company
(“Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
iv. Revaluation of property, plant and equipment (including right-of-use assets) and intangible assets
The Company has not revalued its property, Plant and Equipment (including Right of use Assets), thus valuation by
a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017 is not
applicable.
The Company does not have any Intangible Assets, thus, disclosures relating to revaluation of Intangible Assets is not
applicable.
v. Details of benami property held
The Company does not have any Benami property where any proceeding has been initiated or pending against the
Company for holding any Benami property.
vi. Wilful Defaulter
The Company has not defaulted nor been declared wilful defaulter by any bank or financial institution or other lender.
viii. Relationship with struck off companies
The Company does not have any transactions with the Companies struck off under section 248 of the Companies Act,
2013 or section 560 of the Companies Act, 1956.
ix. Registration of charges or satisfaction with Registrar of Companies (ROC)
The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
x. Compliance with number of layers of companies
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.
xi Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any scheme of arrangements as approved by the competent authority in terms of
Section 230 to 237 of the Companies Act, 2013, thus, the disclosures relating to compliance with approved scheme
of arrangements is not applicable to the Company.
xii Undisclosed income
The Company does not have any undisclosed income which is not recorded in the books of account that has been
surrendered or disclosed as income during the year (previous year) in the tax assessments under the Income Tax Act, 1961.
xiii Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
50 As at March 31, 2025, the Company has outstanding trade receivable from one of it's related parties amounting to INR
Nil (March 31, 2024: INR 151.34 Million) which includes balances amounting to INR Nil Million (March 31, 2024: INR
64.97 Million) outstanding for a period more than 9 months. This has resulted in non-compliances of various regulations,
circulars and notifications issued under the Foreign Exchange Management Act, 1999 (”FEMA Regulations"). However,
subsequent to March 31, 2024, the Company has collected balances amounting to INR 119.16 Million including recovery of
the entire balance which was outstanding for a period more than 9 months as on March 31, 2024. No penalties were levied
on the Company at the time of settlement of these balances. The management of the Company is certain that no material
penalties or fines would be levied on account of such non-compliance and hence, the Company has not accounted for
penalties and fines, if any on account of such non-compliances.
51 The C ompany has used an Accounting Software accordingly maintaining its books of accounts for the financial year March
31, 2025, the software did not have a feature of recording audit trail (edit log) Facility.
52 EVENTS OCCURRED AFTER BALANCE SHEET DATE
On April 16, 2025, the Laxmi Dental Limited made an Overseas Direct Investment (ODI) of USD 10,00,000 (equivalent to INR
85.7 Million) in Laxmi Dental Lab, USA, a foreign subsidiary of the Laxmi Dental Limited.
On April 29, 2025, the Laxmi Dental Limited invested in 8,93,334 equity shares (equivalent to INR 409.15 Million) of Bizdent
Devices Private Limited, a wholly owned subsidiary at a face value of INR 10 each, with a premium of INR 448 per share.
53 During the year ended March 31, 2025, the Company has completed an Initial Public Offer of 16,309,766 equity shares of
face value of INR 2/- each comprising of (i) fresh issue of 3,224,299 equity shares at an issue price of INR 428 per equity
share aggregating to INR1,380 Million, and (ii) an offer for sale of 13,085,467 equity shares at an issue price of INR 428 per
equity share aggregating to INR 5,600.58 Million and listed on both Bombay Stock Exchange Limited (BSE) and National
Stock Exchange (NSE) on January 20, 2025. The Company has received gross proceeds from fresh issue of INR1,380.00
Million against which Company has incurred an estimated issue related expenses (net off tax) of INR 92.29 Million.
Out of the net proceeds which were unutilized as at March 31, 2025, INR 950.33 Million are temporarily invested in fixed
deposits.
The Company has incurred 497.22 Million as IPO related expenses and allocated such expenses between the Group 98.30
million and selling shareholders 398.92 Million. Such amounts were allocated based on agreement between the company
and selling shareholders and in proportion to the total proceeds of the IPO. Company's share of expenses of INR 98.30
Million has been adjusted towards securities premium.
54 “0.00" Denotes amount less than INR Ten thousand.
55 Previous year/period figures have been regrouped/ reclassified whenever necessary to confirm to current year's
classification.
56 These standalone financial statements have been approved for issue by the board of directors at its meeting held on May
26, 2025.
As per our report of even date attached
For M S K A & Associates For and on behalf of the Board of Directors
Chartered Accountants Laxmi Dental Limited (Formerly known as Laxmi Dental Export Private Limited)
Firm Registration Number: 105047W CIN:L51507MH2004PLC147394
Nitin Tiwari Mr. Sameer Merchant Mr. Rajesh Khakhar
Partner Director Director
Membership No: 1 18894 DIN-00679893 DIN-00679903
Place: Mumbai Dharmesh Dattani Nupur Joshi
Date: May 26, 2025 Chief Financial Officer Company Secretary
ACS M.No. A43768
Place: Mumbai Place: Mumbai
Date: May 26, 2025 Date: May 26, 2025
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