29 Details of dues to micro, small and medium enterprises as per MSMED Act, 2006
The Company has not received any memorandum from 'suppliers' (as required to be filed by the 'Supplier' with the notified authority under the Micro, Small and Medium Enterprises Development Act, 2006) claiming the status as on 31st March, 2022 as Micro, Small or medium enterprises. Consequently, the interest paid/ payable by the company to such Suppliers during the year is Nil (Previous year : Nil).
30 Leases
The Company has leased facilities under cancellable operating lease arrangements with a lease term ranging from one to five years, which are subject to renewal at mutual consent thereafter. The cancellable arrangements can be terminated by either party after giving due notice. The lease rent expenses recognised during the year amounts to ' 54,83,840 (Previous year: ' 10,45,200)
31 Segment Information as required by Ind AS - 108 'Operating Segments'
The Company is in the business of capital market activities which comprises of proprietary trading in securities and derivatives, merchant banking, having similar economic characteristics which is regularly reviewed by the Chief Operating Decision Maker for assessment of Company's performance and resource allocation. Hence, the Company has only one reportable segment under Ind-AS 108 'Operating Segments' .
The Company operates principally within India and does not have operations in economic environments with different risks and returns; hence, it is considered operating in single geographical segment.
33 Financial risk management objectives Financial risk factors
The Company's activities expose it to a variety of financial risks: market risk( equity price risk), credit risk and liquidity risk. The Company's primary focus is to foresee the unpredictability of capital markets and seek to minimize potential adverse effects on its financial performance.
The risk management policies are established to ensure timely identification and evaluation of risks, setting acceptable risk thresholds, identifying and mapping controls against these risks, monitor the risks and their limits, improve risk awareness and transparency.
I. Market risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company is exposed in the ordinary course of its business to risks related to equity price flactuations and interest rates.
(a) Equity price risk
Equity Price Risk is related to the change in market reference price of the investments in equity securities. The fair value of some of the Company's investments measured at fair value through other comprehensive income exposes the Company to equity price risks. These investments are subject to changes in the market price of securities.
II. Credit risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company.
Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. Currently company is not exposed to credit risk as it has zero trade receivables.
III. Liquidity risk
Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company generates sufficient cash flow for operations, which together with the available cash and cash equivalents and short term investments provide liquidity in the short-term and long-term.
Maturity profile of financial liabilities:
The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date.
34 Financial instruments A Capital management
The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximising the return to stakeholders through efficient allocation of capital towards expansion of business, opitimisation of working capital requirements and deployment of surplus funds into various investment options.
The Company's capital requirement is mainly to fund its capacity expansion and repayment of principal and interest on its borrowings. The principal source of funding of the Company has been, and is expected to continue to be, cash generated from its operations supplemented by funding from borrowings from banks and other parties.
The Company monitors its capital using gearing ratio, which is net debt divided to total equity. Net debt includes, interest bearing loans and borrowings less cash and cash equivalents, bank balances other than cash and cash equivalents while equity includes all capital and reserves of the Company.
Fair value hierarchy
Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - 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 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)
*The variances(Adverse) in the (i) Current ratio is due to larger increase in the short term borrowings in comparision to the smaller increase in stock-in-trade due to diminution in its valuation, increase in trade receivales etc (ii) Debt Equity ratio is due to large increase in borrowings & decrease in equity due to absence of profit or loss suffered during the year and (iii) Debt Service coverage ratio is due to absence of profit before finance cost (interest) and depreciation .
**The variance (Adverse) in the (i) Net Capital Turnover ratio and Inventory Turnover ratio is due to decrease in revenue from operations (ii) Net Profit ratio, Return on capital employed, Return on Investment is due to absence of profit or loss suffered during the year resulting in decrease in share holders equity.
***The company is primarily engaged in the business of trading of securities which is high volatility segment, the Margin depends on fluctuation of market prices of securities held by the company.
36 Valuatiion of Property, Plant & Equipment, intangible Asset
The company has not revalued its property, plant & machinery and Intangible Assets or both during the current or previous year
37 Loans or advances to specified persons
No loans or advances in the nature of loan are granted to prmoters, directors, KMPS, and the related parties (as defined under Companies Act, 2013) either severally orjointly with other person, that are repayable on demand or without speciifyng any terms or period of repayments.
38 Details of Benami property held
No proceedings have been intiated on or pending against the company for holding benami property under the Benami Transactions (Prohibition) Act, 1988(45 of 1988) and rules made thereunder.
39 Borrowing secured against current assets
Company has not obtained any borrowings against current assets during the year.
40 Wilful Defaulter
The company has not been declared wilful defaulter by any bank or financial institution or other lender.
41 Relationship with struck off companies
The company has no transactions with the companies struck off under section 248 of the companies Act, 2013 or section 560 of the companies act, 1956.
42 Registration of charges or satisfaction with registration of Companies(ROC)
There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory Period.
43 Compliance with number of layers of companies
The companies has complied with number of layers prescribed under the section 2(87) of the Companies Act, 2013 read with companies (Restriction on number of Layers) Rules, 2017
44 Compliance with approved scheme(s) of Amalgamation
The company has not entered into any schemes of arrangemnet which has an accounting impact on current or Previous financial year.
45 Utilisation of borrowed funds and Share premium
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 or entity, 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(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
46 Undisclosed income
There is no income surrendered or disclosed as income during the cureent or previous year in the tax assessments under the income Tax Act,1961,that has not been recorded previously in the books of Account.
47 Details of crypto currency or virtual currency
The company has not traded or invested in crypto curency or virtual currency during the current or previous year.
48 Utilisation of Borrowings availed from banks and financial institutions
The borrowings obtained by the company from the banks and financial institutions have been applied for the purposes for which such loans were taken.
49 Previous year figures have been regrouped/rearranged, wherever considered necessary to conform to current year's classification.