|
aa)Commitments and Contingencies i. Capital Commitments
|
| |
Particulars
|
2023-24
|
2022-23
|
| |
In ' Lacs
|
In ' Lacs
|
|
Estimated number of contracts remaining to be executed on capital account and not provided for (net of advances)
|
|
|
|
Other commitments
|
-
|
-
|
|
ii. Leases
Operating Lease payments recognized in statement of profit and loss:
|
| |
Particulars
|
2023-24
|
2022-23
|
| |
In ' Lacs
|
In ' Lacs
|
|
Lease rentals paid / provided for
|
49.52
|
49.12
|
|
iii.
|
The Company does have any outstanding non-cancellable operating leases. Contingent liabilities
|
| |
Particulars
|
2023-24
|
2022-23
|
| |
In ' Lacs
|
In ' Lacs
|
|
Bank Guarantee issued to CEO MSRLM towards Deen Dayal Upadhyaya Grameen Kaushalaya Yojna
|
49.70
|
49.70
|
|
28. Details of dues to micro and small enterprises as per MSMED Act, 2006 to the extent of information available with the Company:
|
| |
Particulars
|
2023-24 In ' Lacs
|
2022-23 In ' Lacs
|
|
The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of each accounting year
|
|
5.68
|
|
The amount of interest paid by the buyer in terms of section 16, of the micro small and medium enterprise development act, 2006 along with the amounts of the payment made to the supplier beyond the appointed day during each accounting year
|
|
|
|
The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under micro small and medium enterprise development act, 2006.
|
|
|
|
The amount of interest accrued and remaining unpaid at the end of each accounting year; and
|
-
|
-
|
|
The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprise for the purpose of disallowance as a deductible expenditure under section 23 of the micro small and medium enterprise development act, 2006
|
|
|
|
Total
|
-
|
5.68
|
33. The Company does not have any unhedged foreign currency exposure as at March 31,2024 (previous year NIL).
34. There are no present obligations requiring provisions in accordance with the guiding principles as enunciated in IND AS - 37 'Provisions, contingent liabilities & contingent assets.
35. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the balance sheet at amortised cost.
40. CIF value of imports: Nil (Previous Year Nil)
41. Employee Benefit Obligation:
Gratuity
Gratuity is computed as 15 days salary, for every completed year of service or part thereof and is payable on retirement/ termination/ resignation. The Gratuity plan for the company is a defined benefit scheme where annual contributions as per actuarial valuation are charged to other comprehensive income.
The Provident Fund is a defined contribution scheme whereby the company deposits an amount determined as a fixed percentage of basic pay with the Regional Provident Fund Commissioner.
For summarizing the components of net benefit expense recognized in the statement of profit and loss and amounts recognized in the balance sheet for the respective plans, the details are as under:
28. Segment Reporting
The Company has two business segments:
i. Educational training & development activities
ii. Business support activities
In accordance with the provision of IND AS 108, “Segment Reporting" the Company has identified business segment as primary segment. As its Secondary Segment, the Company has only one geographical segment having 10 per cent or more of enterprise revenue from sales to external customers based on the geographical location of its customers.
Revenue and expenses directly attributable to segments are reported under each reportable segment. All other expenses, which are not attributable or allocable to segments, have been disclosed as un-allocable expenses.
Assets and liabilities that are directly attributable to segments are disclosed under respective reportable segment. All other assets and liabilities are disclosed as un-allocable.
45. Dividend
Company had declared interim dividend at the rate of 80% on the paid-up equity share capital of Rs.1018.03 Lacs which amounted to Rs. 814.43 Lacs (Rs 4 per fully paid-up equity share of Rs 5).
Final Dividend at the rate of 20% on paid paid-up equity share capital recommended by the board of directors in the meeting held on May 20, 2024 for the Financial Year 2023-24 is 203.61 Lacs (Rs. 1/- per fully paid-up Equity Share of Rs.5 each). Final Dividend is subject to the approval of the Members in Annual General Meeting.
46. Financial Instrument - Fair value and Risk Measurement Fair value MeasurementMeasurement of fair values
The basis of measurement in respect to each class of financial asset and financial liability is disclosed in note 2(m) of the financial statement.
Financial Risk Management
The Company has exposure to the following risks arising from financial instruments:
• Credit Risk
• Liquidity Risk
• Market Risk.
Credit Risk
Credit risk is the risk that the counterparty will not meet its obligations leading to a financial loss. Credit risk arises from cash and cash equivalents, investments carried at amortised cost and deposits with banks and financial institutions, as well as credit exposures to customers including outstanding receivables and unbilled revenue.
i. Credit risk management
Credit risk has always been managed by the company through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the company grants credit terms in the normal course of business.
The company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the group compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forwarding-looking information.
In general, it is presumed that credit risk has significantly increased since initial recognition if the payments are more than 90 days past due.
A default on a financial asset is when the counter party fails to make contractual payments of when they fall due. This definition of default is determined by considering the business environment in which entity operates and other macro-economic factors.
ii. Provision for expected credit losses
The company follows 'simplified approach', for recognition of impairment loss allowance on trade receivables or contract revenue receivables and unbilled revenue.
As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance on portfolio of its trade receivables and unbilled revenue. The provision matrix is based on its historically observed default rates over the expected life of the trade receivables and is adjusted for forward-looking estimates. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analysed.
Financial instruments and cash deposits
The credit risk from balances / deposits with banks, other financial assets and current investments are managed in accordance with the company's approved policy. Investments of surplus funds are made only with approved counter-parties and within the limits assigned to each counter-parties. The limits are assigned to mitigate the concentration risks. These limits are actively monitored by the Company.
Liquidity Risk
Liquidity risk is the risk that the Company may encounter difficulty in meeting its obligations. The Company monitors rolling forecast of its liquidity position on the basis of expected cash flows. The Company's approach is to ensure that it has sufficient liquidity or borrowing headroom to meet its obligations at all point in time. The Company has sufficient short-term fund-based lines, which provides healthy liquidity and these carry highest credit quality rating from reputed credit rating agency.
Market risk
Market risk is the risk that the fair value of the future cash flows will fluctuate because of changes in the market prices such as currency risk, interest rates risk and commodity price risk.
a. Currency risk
The Company operations are not exposed to foreign exchange risk
b. Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The interest rate risk can also impact the provision for retrial benefits. The Company does not have any outstanding borrowing and therefore not subject to interest rate risk, The Company is not exposed to significant interest rate risk as at the respective reporting dates.
c. Price Risk
The price risk is the risk arising from investments held by the Company and classified in the balance sheet either at fair value through Other Comprehensive Income or at fair value through profit or loss.
The Company's equity investments are mainly strategic in nature and are generally held on a long-term basis. Further, the current investments are in units of liquid mutual fund and these are not exposed to significant price risk.
d. Commodity Risk
The Company is not exposed to the fluctuations in commodity prices. The Company manages these price fluctuations, if any by actively managing the sourcing, private purchases and alternate strategies.
47. Capital Management
For the purpose of the company's capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to maximise the shareholder value.
The company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The company includes within debt, interest bearing loans and borrowings, trade and other payables, less other bank balances.
In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants attached to the borrowings that define capital structure requirements. The financial covenants relate to gearing ratio, ratio of net finance cost to EBITDA, fixed assets coverage ratio etc.
48. As per the proviso to rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accounting software which has a feature of recording audit trail (Edit Log) facility has been complied by the company.
49. Previous period figures have been regrouped/ reclassified wherever necessary to conform to current year classification.
|