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Gaudium IVF And Women Health Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ
G. Provisions, contingent liabilities and
contingent assets
Provisions are recognised when the Company has a present
obligation (legal or constructive) as a result of a 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. Expected future operating losses are not
provided for.
Contingent liability is a possible obligation arising from
past events and whose existence will be confirmed by the
occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company,
or when a present obligation exists but an outflow of
economic resources is not probable, or the amount cannot
be measured reliably. The Company does not recognise
a contingent liability but discloses its existence in the
financial statements.
Contingent assets are only disclosed when it is probable
that the economic benefits will flow to the entity.
Provisions, contingent liabilities and contingent assets are
reviewed at each Balance Sheet date.
Company follows the following mentioned
underneath hierarchy for determining fair values of its
financial instruments:
⢠Level 1 - Quoted prices (unadjusted) in active markets
for identical assets or liabilities;
⢠Level 2 - Inputs other than quoted prices included in
Level 1 that are observable for the asset or liability, either
directly (prices) or indirectly (derived from prices); and
⢠Level 3 - Inputs for the asset or liability that are not
based on observable market data.
The fair value of financial instruments traded in active
markets is based on quoted market prices at the reporting
dates. A market is regarded as active if quoted prices are
readily and regularly available from an exchange, dealer,
broker, industry Company, pricing service, or regulatory
agency, and those prices represent actual and regularly
occurring market transactions on an arm''s length basis.
The fair value for these instruments is determined using
Level 1 inputs.
The fair value of financial instruments that are not traded in
an active market (for example, over the counter derivatives) is
determined by using valuation techniques. These valuation
techniques maximize the use of observable market data
where it is available and rely as little as possible on entity
specific estimates. If all significant inputs required to fair
value an instrument are observable, the instrument is fair
valued using level 2 inputs.
If one or more of the significant inputs is not based on
observable market data, the instrument is fair valued using
Level 3 inputs. Specific valuation techniques used to value
financial instruments include:
⢠Quoted market prices or dealer quotes for
similar instruments
⢠The fair value of interest rate swaps is calculated as the
present value of the estimated future cash flows based
on observable yield curves
⢠The fair value of forward foreign exchange contracts
is determined using forward exchange rates at the
reporting dates, with the resulting value discounted back
to present value
Other techniques, such as discounted cash flow analysis,
are used to determine fair value for the remaining
financial instruments.
Borrowing costs are interest and other costs (including
exchange differences relating to foreign currency
borrowings to the extent that they are regarded as an
adjustment to interest costs) incurred in connection
with the borrowing of funds. Borrowing costs directly
attributable to acquisition or construction of an asset which
necessarily take a substantial period of time to get ready for
their intended use are capitalised as part of the cost of that
asset. Other borrowing costs are recognised as an expense
in the period in which they are incurred.
J. Employee benefits
Short-term employee benefits
Short-term employee benefits are measured on an
undiscounted basis and expensed as the related service is
provided. A liability is recognised for the amount expected
to be paid under short-term cash bonus, if the Company has
a present legal or constructive obligation to pay this amount
as a result of past service provided by the employee and the
obligation can be estimated reliably.
The Company''s defined contribution plans comprise
provident fund. Contributions to defined contribution plans
are recognised as an expense when the contributions to the
respective funds become due. The Company has no further
obligation beyond the contribution payable to such funds.
A defined benefit plan is a post-employment benefit plan
other than a defined contribution plan. The Company''s net
obligation in respect of defined benefit plans is calculated
separately for each plan by estimating the amount of future
benefit that employees have earned in the current and prior
periods, discounting that amount and deducting the fair
value of any plan assets.
The calculation of defined benefit obligations is performed
annually by a qualified actuary using the projected unit
credit method. When the calculation results in a potential
asset for the Company, the recognised asset is limited to
the present value of economic benefits available in the form
of any future refunds from the plan or reductions in future
contributions to the plan (''the asset ceiling''). To calculate
the present value of economic benefits, consideration is
given to any applicable minimum funding requirements.
Remeasurements of the net defined benefit liability, which
comprise actuarial gains and losses, the return on plan
assets (excluding interest) and the effect of the asset ceiling
(if any, excluding interest), are recognised immediately in
OCI. The Company determines the net interest expense
(income) on the net defined benefit liability (asset) for
the period by applying the discount rate determined by
reference to market yields at the end of the reporting
period on government bonds. This rate is applied on the net
defined benefit liability (asset), both as determined at the
start of the annual reporting period, taking into account any
changes in the net defined benefit liability (asset) during the
period as a result of contributions and benefit payments.
Net interest expense and other expenses related to defined
benefit plans are recognised in profit or loss.
When the benefits of a plan are changed or when a plan
is curtailed, the resulting change in benefit that relates to
past service (''past service cost'' or ''past service gain'') or
the gain or loss on curtailment is recognised immediately
in profit or loss. The Company recognises gains and
losses on the settlement of a defined benefit plan when
the settlement occurs.
Liability towards compensated absences is determined
based on estimated obligation of current salary levels.
Liabilities are calculated based on the number of days
of leave earned but not availed by employees as at the
reporting date. The liability is computed based on the salary
levels prevailing at the reporting date. As the compensated
absences are expected to be settled within twelve months,
the same are treated as short-term employee benefits and
are measured on an undiscounted basis.
Income tax expense comprises current tax and deferred
tax. It is recognised in profit or loss except to the extent that
it relates to a business combination, or items recognised
directly in equity or in Other comprehensive income.
Current tax is determined on the basis of taxable profits for
the year computed in accordance with the provisions of the
Income-tax Act, 1961. Current tax assets and liabilities for
the current period, including adjustments relating to prior
years, are recognised and measured at the amount expected
to be recovered from or paid to the taxation authorities,
based on tax rates and tax laws that have been enacted or
substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of temporary
differences between the carrying amounts of assets and
liabilities in the financial statements and their respective tax
bases. Deferred tax liabilities are recognised for all taxable
temporary differences. Deferred tax assets are recognised
for deductible temporary differences to the extent that
it is probable that sufficient future taxable profits will be
available against which such deferred tax assets can
be utilised.
Deferred tax assets and liabilities are measured using tax
rates and tax laws that are expected to apply in the period
in which the asset is realised, or the liability is settled,
based on tax rates and laws that have been enacted or
substantively enacted by the end of the reporting period.
Deferred tax assets are reviewed at each reporting date and
reduced to the extent that it is no longer probable that the
related tax benefit will be realised.
Deferred tax is not recognised for temporary differences
on the initial recognition of assets or liabilities in a
transaction that:
⢠is not a business combination; and
⢠at the time of the transaction, affects neither accounting
nor taxable profit or loss and does not give rise to equal
taxable and deductible temporary differences.
Deferred tax assets and liabilities are offset when there is a
legally enforceable right to offset current tax assets against
current tax liabilities and when the balances relate to the
same taxation authority.
The Company is in the business of IVF treatment and
other women health services. Revenue from contract with
customers is recognised when control of goods or services
are transferred to the customer at an amount that reflects
the consideration to which the Company expects to be
entitled in exchange for those goods or services.
Revenue in respect of the different types of services is
recognised as follows:
In vitro fertilisation ("IVF") treatment is an assisted
reproductive technique where eggs and sperm are collected
and fertilised in laboratory to become embryo. Fertilised
embryo is then implanted to the customer or a surrogate
mother. The IVF treatment is offered as a single bundled
package, which includes injections, Ovum/Egg pickup,
Embryo Creation and Embryo Transfer.
IVF treatment involves the performance of a series of
medical treatment as well as procedures and brings benefits
to clients as the bundled service is completed. Revenue
from IVF treatment is recognised over the period based
on the stage of treatment, by proportionate completion
method. The percentage of completion is based on the cost
incurred including cost of various consumables.
Other related services are recognised as the performance
obligation is satisfied at a point in time which is on
completion of the procedure/service.
M. Foreign currency transactions
On initial recognition, all foreign currency transactions
are recorded by applying to the foreign currency amount
the exchange rate between the reporting currency and the
foreign currency at the date of the transaction.
As at the reporting date, non-monetary items which are
carried in terms of historical cost denominated in a foreign
currency are reported using the exchange rate at the date
of the transaction.
All monetary assets and liabilities in foreign currency are
restated at the end of accounting period at the closing
exchange rate and exchange differences on restatement
of all monetary items are recognised in the Statement of
Profit and Loss.
N. Earnings per share
Basic earnings per share are calculated by dividing the profit
attributable to owners of the Company by the weighted
average number of equity shares outstanding during the
financial year, adjusted for bonus elements in equity shares
issued during the year and excluding treasury shares.
Diluted earnings per share is computed by dividing the profit
(considered in determination of basic earnings per share)
after considering the effect of interest and other financing
costs or income (net of attributable taxes) associated with
dilutive potential equity shares by the weighted average
number of equity shares considered for deriving basic
earnings per share adjusted for the weighted average
number of equity shares that would have been issued upon
conversion of all dilutive potential equity shares.
O. Segment reporting
Operating segments are reported in a manner consistent
with the internal financial reporting provided to the chief
operating decision maker.
The Chairperson/Managing Director of the Company has
been identified as being the chief operating decision maker.
Refer note 37 for segment information provided.
P. Events after reporting date
Where events occurring after the Balance Sheet date
provide evidence of conditions that existed at the end of
the reporting period, the impact of such events is adjusted
within the Standalone Financial Statements. Non adjusting
events after the Balance Sheet date which are material in
size or nature are disclosed separately in the Standalone
Financial Statements.
Acquisition of identified assets and liabilities of M/s. Gaudium Bawa IVF
During the year 2022-23, the Company had acquired specifically identified assets and liabilities of M/s. Gaudium Bawa IVF
partnership firm.The excess of the purchase consideration over the value of specifically identified assets and liabilities
resulted in a goodwill of 113.82 Lakhs for the Company, which comprises the value of expected synergies arising from the
acquisition. The entire amount of goodwill is considered to be associated with one of the IVF Centers ("Cash Generating
Unit", "CGU"), which is part of the business of the Company.
The Company performed its impairment test for year ended March 31, 2026. The Company considers the relationship
between recoverable value of net assets taken over and its carrying value, among other factors, when reviewing for
indicators of impairment. As at March 31, 2026, the recoverable value of the net assets taken over was higher than the
carrying value and no other indicators of impairment were identified. Therefore, no impairment loss allowance is provided
for the year ended March 31, 2026.
(b) Terms/rights attached to equity shares
The Company has only one class of Equity Shares having par value of ?5/- per share. Each holder of equity shares is
entitled to one vote per share. In 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 payments. The distribution will be in
proportion to the number of equity shares held by the shareholders.
(c) The Company had issued 9,40,232 shares of 110 each to Dr. Manika Khanna pursuant to taking over the proprietorship
as stated in the objects of the Company in its Memorandum of Association, for consideration other than cash in during
the financial year ended March 31, 2021.
Nature and Purpose of Reserves:Retained Earnings
Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or
other distributions paid to shareholders.
Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with
the provisions of the Companies Act, 2013 (the Act).
The Company''s lease arrangements for buildings primarily comprise office premises, IVF centers, and hospital. In
accordance with Ind AS 116, the Company has not recognized right-of-use (ROU) assets and corresponding lease liabilities
for leases with a tenure of less than 12 months, as these are classified as short-term leases. Since the Company has elected
to apply the recognition exemption for short-term leases and leases of low-value assets.
The Company has entered into lease arrangements with Gaudium International Private Limited for medical equipment.
These leases are short-term in nature and are cancellable at the option of either party.
Basic EPS is calculated by dividing the profit for the year attributable to equity holders by the weighted average number
of equity shares outstanding during the year. Diluted EPS is calculated by dividing the profit attributable to equity holders
by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity
shares that would be issued on conversion of all the dilutive potential shares into equity shares.
The Company business fall within a single primary business(Healthcare business) and geographical segment i.e.business
of providing IVF treatment and Maternity Care in single geographical area. Accordingly pursuant to Ind AS 108 on "Operating
Segment", segment information is not required to be disclosed.
A) The Company''s contribution to defined contribution plan has been recognized as expense in the statement of Profit
& Loss under the head employee benefit expense for the year are as under
B) Defined benefit obligations- Gratuity
The Company has a defined benefit gratuity plan, which is regulated as per the provisions of Payment of Gratuity Act, 1972.
The amount of gratuity payable on retirement/ termination is the employees last drawn basic salary per month computed
proportionately for 15 days salary multiplied for the number of years of service who are eligible for gratuity. The present value
of the defined benefit obligation and the related current service cost were measured using the Projected Unit Credit Method
with actuarial valuations being carried out at each reporting date.
Sensitivities due to mortality & withdrawals are not material & hence impact of change due to these not calculated.
Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide
an approximation of the sensitivity of the assumptions shown. There are no changes in the methods and assumptions
used in preparing the sensitivity analysis from the previous year.
iv) The plan typically exposes the Company to actuarial risks such as: interest rate, longevity risk and salary risk.
Interest rate risk
A decrease in the bond interest rate will increase the plan liability.
The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of
plan participants both during and after their employment. An increase in the life expectancy of the plan participants will
increase the plan''s liability.
The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants.
As such, an increase in the salary of the plan participants will increase the plan''s liability.
39 Contingent Liabilities and Pending Litigations
Pending Litigations
(i) The income tax survey proceedings had been conducted at the premises of the Company U/s 133A of the Income Tax
Act, 1961 ("IT Act") for the Assessment Year 2022-23. Income Tax Department has assessed income based on the
documents identified and raised the demand of 12,444.26 Lakhs and interest thereon vide assessment order dated
March 31, 2024. The Company has filed an appeal before the Hon''ble Commissioner of Income Tax (Appeals) (''CIT(A)'')
on April 29, 2024 and an application for stay against the recovery of demand with the Assistant Commissioner of
Income Tax on August 27, 2024. Additionally, the Company has received another Notice under Section 156 of the IT
Act for the Assessment Year 2022-23 demanding 1385.81 Lakhs under Section 271 DA of the IT Act. The Company has
filed an Appeal with the CIT(A) against the said notice. Based on the expert legal opinion obtained, the management
of the Company is of the opinion that the said demands will be set aside in the appropriate forum and there will be
no liability.
(ii) For the Assessment Year 2021-22, the Company received Order under Section 147 dated March 16, 2025 with a demand
of 15.27 Lakhs and interest thereon. The Company has filed an Appeal for the same on April 16, 2025.
(iii) For the Assessment Year AY 2023-24, the Company received Order under section 143 dated March 28, 2025 with a
demand of 1253.94 Lakhs and interest thereon. The Assessee has filed an Appeal for the same on April 19, 2025.
Additionally, the Company has received another Notice under Section 156 of the IT Act for the Assessment Year 2023¬
24 demanding 1330.20 Lakhs under Section 271DA of the IT Act.
(iv) There is a pending litigation against the Company where the complainant had alleged negligence in the treatment
given by the Company doctors. The complainant had filed a complaint with Delhi District Consumer Dispute Redressal
Commission - IX (East). The Complainant has demanded 150 Lakhs alleging wrongful treatment of the patient and
refund of 12.20 Lakhs towards spent for other expenses of medicines and injections, along with 10.51 Lakhs for legal
expenses. The Company has contested the said demand and expects that the case will be disposed off in the favour
of the Company with no liability.
(v) Arbitration proceedings were initiated against the Company by Neomile Corporate Advisory Limited before the High
Court of Judicature at Bombay under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim reliefs
aggregating to 12,920.50 Lakhs, inclusive of GST, allegedly in relation to advisory services for the Company''s IPO.
Vide Order dated April 02, 2026, the Hon''ble High Court disposed of the petition and appointed Hon''ble Mr. Justice
Nitin Jamdar, Former Chief Justice, Kerala High Court, as the Sole Arbitrator. The Company considers the claims to
be baseless, devoid of merit, factually incorrect, and contrary to the records and supporting evidence available with
the Company.
(b) Methods and Assumptions
Trade receivables, cash and cash equivalents, Contract assets, Other trade payables, other financial assets, trade
payables and other financial liabilities have fair values that approximate to their carrying amounts due to their short¬
term nature.
(c) There are no transfers between Level 1, Level 2 and Level 3 during the year ended March 31, 2026 and March 31, 2025.
(d) The following is the basis of categorizing the financial instruments measured at fair value into Level 1 to Level 3:
Level 1: This level includes financial assets that are measured by reference to quoted prices (unadjusted) in active
markets for identical assets or liabilities.
Level 2: This level includes financial assets and liabilities, measured using inputs other than quoted prices included
within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from
prices).
Level 3: This level includes financial assets and liabilities measured using inputs that are not based on observable
market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on
assumptions that are neither supported by prices from observable current market transactions in the same instrument
nor are they based on available market data.
The Company''s activities expose it to market risk, liquidity risk and credit risk. The Company''s senior management oversee
the management of these risks. The Board of Directors reviews and advises the senior management on identification of
financial risks and its management in accordance with the policies and objectives of the Company. The below table broadly
summarises the sources of financial risk to which the entity is exposed to and how the entity manages the risk.
Credit risk is a risk where the counter party will not meet its obligations under a financial instruments leading to a financial
loss. Credit risk arises from deposits with banks, trade receivables and other financial assets.
The Company considers the probability of defaults upon initial recognition of financial 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 entity compares the risk of default occurring on an asset as at the reporting date with
the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking
information especially:
a) actual or expected significant adverse changes in business, financial or economic conditions that are expected to
cause a significant change to the counter party''s ability to meet its obligations.
b) actual or expected significant changes in operating results of the counter party.
The Company continuously monitors the credit worthiness of the customers and reassesses the credit limits on an
ongoing basis.
The Company''s financial assets mainly comprise of deposits with banks, trade receivables and other financial assets.
The Company follows a ''simplified approach'' (i.e. based on lifetime ECL) for recognition of impairment loss allowance
on Trade receivables. For the purpose of measuring lifetime ECL allowance for trade receivables, the Company
estimates irrecoverable amounts based on the ageing of the receivable balances and historical experience. Individual
trade receivables are written off when management deems them not to be collectible
Other financial assets have negligible or nil risk based on past history of defaults and reasonable forward looking
information. Other financial assets mainly include bank deposits and refundable deposits made on buildings taken
on lease . Since these are the assets with nil or negligible risk, the expected probability of default is "0%" and hence
no provision for expected credit losses are made in the financial statements related to other financial assets.
Liquidity risk is a risk where an entity will encounter difficulty in meeting obligations associated with financial liabilities
that are settled by delivering cash or another financial asset.
Prudent liquidity management implies maintaining sufficient cash and availability of fund through an adequate amount of
committed credit facilities to meet obligations when due. Due to dynamic nature of the underlying business, the Company
maintains flexibility in funding by maintaining sufficient liquid funds for committed credit lines.
The Company monitors the liquidity position through monthly projections of cash flow requirement.
The below table summarises the maturity profile of the Company''s financial liabilities and are grouped into relevant maturity
periods based on their contractual maturities. The amounts disclosed in the below table are the contractual undiscounted
cash flows. Balances due within 12 months, not being lease liabilities, equal their carrying balances as the impact of
discounting is not significant.
Market risk is a risk where the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market prices.
Foreign currency risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because
of changes in foreign exchange rates. The Company is not exposed to material foreign exchange risk arising from
transactions i.e. imports of materials, recognised liabilities denominated in a currency that is not the Company
functional currency. The Company foreign currency risks are identified, measured and managed at periodic intervals
in accordance with the Company policies.
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 Company has constantly monitoring mechanism for credit markets and
rebalances its financing strategies to achieve an optimal maturity profile and financing cost. Interest rate risk is
managed by the Company on an on-going basis with the primary objective of limiting the extent to which interest
expense could be affected by an adverse movement in interest rates. There are no hedging instruments to mitigate
this risk.
The sensitivity disclosed in the above table is attributable to floating-interest rate borrowings
The above sensitivity analysis is based on a reasonably possible change in the underlying interest rate of the Company''s
borrowings in INR while assuming all other variables to be constant as at the reporting date
Based on the movements in the interest rates historically and the prevailing market conditions as at the reporting
date, the Company''s management has concluded that the above mentioned rates used for sensitivity are
reasonable benchmarks.
For the purpose of capital management, capital includes equity share capital and all other equity reserves attributable to
the equity shareholders. The primary objective of the capital management are to:
- safeguard their ability to continue as going concern so as to maximise the shareholders value;
- maintain an optimal capital structure to reduce the cost of capital.
The Company manages its capital structure and makes adjustments to the capital structure in light of changes in economic
conditions and future business prospects. To maintain or adjust the capital structure, the Company may adjust the amount
of dividends paid to the shareholders or issue new shares.
The Company is not subject to any externally imposed capital requirements.
The Company manages its capital to ensure it continues as a going concern and meets regulatory requirements. The
Company monitors capital using a gearing ratio, which is net debt divided by equity.
Notes
1 Current assets rose, mainly trade receivables, while current liabilities grew more slowly.
2 Equity base expanded substantially following the Fresh Issue; borrowings grew only modestly.
3 The ratio declined due to lower operating profits during the period and continued finance costs and repayment obligations.
4 ROE declined as a result of lower profits for the period coupled with an increased equity base. The reduction is
attributable to earnings contraction rather than inefficiency in equity utilization.
5 The inventory turnover ratio decreased due to change in the dosages resulting in lower consumption.
6 The trade receivables turnover ratio declined due to increase in average recoverable days.
7 The trade payables turnover ratio declined due to higher average payables .
8 The ratio declined sharply due to a significant increase in net working capital, mainly on account of higher receivables
and inventory.
9 ROCE declined due to an increase in capital employed (IPO Funds), and borrowings during the period.
44 Additional regulatory information not disclosed elsewhere in the financial statement
(a) There are no properties / assets which are not held or registered in the name of the Company (benami property), No
proceedings have been initiated during the year or are pending against the company as at March 31, 2026 for holding
any benami property under Benami Property Transactions (prohibition) Act, 1988.
(b) Transactions and balances with companies which have been removed from register of Companies [struck off
companies] during the reporting period is Nil.
(c) The Company has not traded / invested in Crypto currency or virtual currency.
(d) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies
beyond the statutory period.
(e) The Company has not advanced or 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 (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(f) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
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 Funding Party (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(g) The Company has no 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).
(h) The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the
related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.
(i) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender.
(j) The Company is maintaining proper books of account as required by law for keeping backup on daily basis of such
books of account maintained in electronic mode in a server physically located in India.
(k) Subsequent to the year end the Company has fully repaid its term loans (borrowings) outstanding as at March 31,
2026. As per the Management, subsequent to the year ending no other events have taken place post reporting period.
(l) During the year ended March 31, 2026, the Central Government of India has notified the Code on Wages, 2019, the
Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working
Conditions Code, 2020, collectively referred to as the ''New Labour Codes'', effective from November 21, 2025 primarily
impacting the wage definition to be considered for the purpose of defined benefit obligation relating to gratuity.
This plan amendment had no material impact on the Company.
(m) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by
the Company.
(n) The Company evaluated all events or transactions that occurred after March 31, 2026 up through May 28, 2026
(signing date), the date the financial statements were authorized for issue by the Board of Directors. Based on this
evaluation, the Company is not aware of any events or transactions that would require recognition or disclosure in the
financial statements.
45 With effect from April 1, 2023, the Ministry of Corporate Affairs (MCA) has made it mandatory for companies to
maintain an audit trail throughout the year for transactions impacting books of accounts. The Company has used an
accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility
and such feature has been operational throught the year, the audit trail has been preserved by the Company as per
the statutory requirements for record retention.
46 During the year ended March 31, 2026, the Company has completed its Initial Public Offer (IPO) of 2,08,86,200 equity
shares of face value of ?5 each at an issue price of ?79 per share (including a share premium of ?74 per share). The
issue comprised of a fresh issue of 1,13,92,500 equity shares aggregating to ? 9,000.08 lakhs and offer for sale of
94,93,700 equity shares by selling shareholder aggregating to ?7,500.02 lakhs. Pursuant to the IPO, the equity shares
of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on February 27,
2026. The utilisation of the IPO proceeds from fresh issue of ?8,228.19 lakhs (net of IPO expenses of ?771.89 lakhs)
is summarized below:
47 Corporate Social Responsibility
As per Section 135 of the Companies Act, 2013, a CSR committee has been formed by the Company. The Company''s CSR
activities focus on promoting education, promoting health care including preventive health care and women empowerment.
48 As allowed under Schedule III of the Companies Act, 2013, Financial Statements are prepared in Lakhs and rounded
off to two decimals. The amounts / numbers below five thousands are appearing as zero.
49 These financial statements were authorised for issue by the Board of Directors on May 28, 2026.
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