Zerone BS M23 Final For Sign

Zerone Technologies Private Limited
(CIN : U74999DL2012PTC237394)
Balance Sheet as at March 31, 2023
(All amount in INR in Lakhs except for EPS & Share data)
As at March 31, 2023 As at March 31, 2022
Particulars Notes
Rs. Rs. Rs. Rs.
EQUITY AND LIABILITIES

Shareholders’ funds
Share Capital 2 520.40 167.85
Reserves and Surplus 3 (58.21) 462.19 (75.97) 91.88
Non-Current Liabilities
Long-term Borrowings 4 98.20 233.28
Long-term Provisions 5 40.78 138.98 33.88 267.17
Current Liabilities
Short-Term Borrowings 6 2,780.53 3,040.67
Trade Payables 7 944.51 596.69
Other Current Liabilities 8 152.72 66.97
Short-term Provisions 9 15.76 3,893.53 14.75 3,719.08
TOTAL 4,494.70 4,078.13
ASSETS
Non-Current Assets
Property, Plant & Equipment and 10
Intangible Assets
i) Property, Plant & Equipment 15.16 10.86
ii) Intangible Assets 20.33 35.48 0.18 11.05
Non Current Investments 11 3.30 3.00
Deferred Tax Assets (net) 12 57.98 61.77
Long-Term Loans & Advances 13 672.62 325.23
Other Non-Current Assets 14 124.87 858.77 95.33 485.33
Current Assets
Inventories 15 1,485.23 1,113.85
Trade Receivables 16 1,506.13 1,421.00
Cash and Cash Equivalents 17 0.21 54.99
Short-Term Loans & Advances 18 334.49 739.24
Other Current Assets 19 274.39 3,600.45 252.68 3,581.75
TOTAL 4,494.70 4,078.13
Significant Accounting Policies 1
Notes on Financial Statements 2 to 34
As per our report of even date attached
For Raj Garg & Associates
Chartered Accountants
Firm Registeration No: 008569C For and on Behalf of Board of Directors
Raj Kumar Garg Rahul Mathur Krishna Moorthy

Partner Director Director
Membership No.: 091706 DIN: 01270491 DIN: 05286025
Place : New Delhi
Date :
(CIN : U74999DL2012PTC237394)
Statement of Profit and Loss for the year ended March 31, 2023
Particulars Notes For the Year Ended For the Year Ended
March 31, 2023 March 31, 2022
INCOME
Revenue from Operations 20 3,304.39 3,093.27
Other Income 21 78.04 47.72
Total Income 3,382.42 3,140.99
EXPENDITURE:
Cost of Goods Sold 22 2,499.82 2,161.17
Changes in Inventories 23 (529.66) (333.73)
Employee Benefits Expenses 24 466.12 387.73
Finance Cost 25 296.83 235.17
Depreciation/Amortisation Expenses 10 10.01 16.04
Other Expenses 26 611.18 564.06
Total Expenses 3,354.31 3,030.44
PROFIT / (LOSS) BEFORE 28.11 110.55
EXCEPTIONAL AND
EXTRAORDINARY ITEMS & TAX
Exceptional Items - -
PROFIT / (LOSS) BEFORE 28.11 110.55
EXTRAORDINARY ITEMS & TAX
Extraordinary items - -
PROFIT / (LOSS) BEFORE TAX 28.11 110.55
Tax expense:
Current tax expenses for current year 5.29 -
Current tax expenses for prior years 1.27 -
Deferred tax 3.79 32.38
PROFIT / (LOSS) FOR THE YEAR 17.77 78.17
EARNINGS PER EQUITY SHARE
29
(OF Rs. 10/-EACH)
(a) Basic 0.34 4.66
(b) Diluted 0.93 4.66
Significant Accounting Policies and 1
Notes on Financial Statements 2 to 34
Raj Kumar Garg

Partner Rahul Mathur Krishna Moorthy
Membership No.: 091706 Director Director
Place : New Delhi DIN: 01270491 DIN: 05286025
Date :
(CIN : U74999DL2012PTC237394)
Cash Flow Statement for the Year ended March 31, 2023
For the year For the year
Particulars March 31, 2023 March 31, 2022
Rs. Rs.
Cash flow from operating activities
Profit(Loss) before tax 28.11 110.55
Adjustments for :
Depreciation 10.01 16.04
Interest Received (78.04) (47.72)
Interest Paid 279.42 222.93
Operating profit before working capital changes 239.51 301.80
Movement in working capital
- (Increase)/decrease in Inventories (371.38) (447.92)
- (Increase)/decrease in Trade Receivable (85.13) 239.80
- (Increase)/decrease in Short term loans and advances 404.75 110.97
- (Increase)/decrease in Other current assets (21.71) (92.48)
- (Decrease)/increase in Other long term liabilities - (0.88)
- (Decrease)/increase in Trade payable 347.82 (72.37)
- (Decrease)/increase in Long-term Provisions 6.90 4.77
- (Decrease)/increase in Short-term Provisions 1.01 2.62
- (Decrease)/increase in Other current liabilities 85.75 (8.91)
Cash generated from/(used in) operations 607.51 37.40
Direct taxes paid (6.56) -
Net cash flow from/(used in) operating activities (A) 600.96 37.40
Cash flow from investing activities
Purchase of Property Plant & Equipment and Intangible assets including
capital work in progress (34.45) (3.93)
Interest Received 78.04 47.72
(Increase)/ decrease in Non Current Investment (29.54) (88.14)
Investment in Equity shares (0.30) -
(Increase)/ decrease in Long Term Loans & Advances (347.39) (42.38)
Net cash flow generated from/(used in) investing activities (B) (333.64) (86.72)
Cash flow from financing activities
Proceeds/(refund of ) from Short term borrowings (260.14) 490.54
Proceeds/(refund of ) from Long term borrowings (135.08) (166.26)
Proceeds/(refund of ) from New Equity shares 352.55 -
Interest Paid (279.42) (222.93)
Net cash flow from financing activities (C) (322.10) 101.35
Net Increase in cash and cash equivalents (A+B+C) (54.78) 52.03
Cash and cash equivalents at the beginning of the year 54.99 2.96
Cash and cash equivalents at the end of the year 0.21 54.99

For Raj Garg & Associates For and on Behalf of the Board of Directors
Firm Registration No: 008569C

Place : New Delhi
Date :
(CIN : U74999DL2012PTC237394)
Notes on Financial Statements For the Year Ended March 31, 2023
1 SIGNIFICANT ACCOUNTING POLICIES
1.1 NATURE OF OPERATIONS

Zerone Technologies Private Limited was incorporated on August 13, 2018 and engaged in Health Care
Services, Computer and Related Services
1.2 SMALL & MEDIUM SIZED COMPANY

The entity is a Small & Medium sized Company(SMC) as defined in general instruction in respect of
Accounting Standard notified under the Company Act, 2013, accordingly the company has complied with
the Accounting Standard Applicable to Small & Medium Sized Company.
1.3 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

These financial statements have been prepared on accrual basis of accounting, under the historical cost
convention and in compliance with the applicable Accounting Standard and relevant presentaion
requirements of the Companies Act, 2013.
The accounting policies adopted in the preparation of financial statement are consistent with thosse of
previous year, except for the change in accounting policy explained below.
1.4 DEPRECIATION/AMORTISATION
Property, Plant & Equipment
Depreciation has been provided on Property, Plant & Equipment on written down value method over the
useful lives as prescribed in Schedule II of the Companies Act, 2013.
Intangible Assets
These are amortised as under:
Particular Amortisation/Depletion
Computer Software Over a period of 5 Years
1.5 REVENUE RECOGNITION

Income and Expenses are accounted for on accrual basis. Sales is recognized in the books of accounts at
the time of raising of invoices to customers. Incomes are not determined unless there is established right to
receipt of the same.
1.6 Property, Plant & Equipment and Intangible Assets

Property, Plant & Equipment and Intangible Assets are stated at acquisition cost less accumulated
depreciation. Cost of acquisition is inclusive of freight, taxes and other incidental cost of bringing the
assets to their present working condition for intended use.
Cost incurred on developing softwares, i.e. Software under Developement, is capitalised as and when
incurred.
1.7 BORROWING COST
Borrowing Costs which are directly attributable to the acquisition/ construction of qualifying assets are
capitalized as part of cost of such asset. All other borrowing costs are recognized as an expense in the
period in which they are incurred.
(CIN : U74999DL2012PTC237394)
1.8 EMPLOYEE BENEFITS

i. Short Term Employee Benefits
All employee benefits payable wholly within twelve months of rendering the service are classified as short-
term employee benefits. Benefits such as salaries, wages, short term compensated absences, etc. and the
expected cost of bonus, ex-gratia is recognized in the period in which the employee renders the related
service.
ii. Long Term Employee Benefits.
a) Defined Contribution plans
Provident Fund and Employees’ State Insurance schemes
All employees of the Company are entitled to receive benefits under the Provident Fund, which is a
defined contribution plan. Both the employee and the employer make monthly contribution to the plan at a
predetermined rate of the employee’s basic salary. These contributions are made to the fund administered
and managed by the Government of India. In addition some employees of the Company are covered under
the employees state insurance schemes, which are also defined Contribution schemes recognized and
administered by the Government of India.
The Company’s contributions to both these schemes are expensed in the Statement of Profit and Loss /
work in progress as the case may be. The Company has no further obligations under these plans beyond its
monthly contributions.
b) Defined Benefit Plans

Leave Encashment
The Company has provided for the liability at year-end on account of unavailed earned leave as per the
actuarial valuation as per the Projected Unit Credit Method.
Gratuity
The Company provides for gratuity obligations through a defined benefit retirement plan (the Gratuity
Plan) covering all employees. The Gratuity Plan provides a lump sum payment to vested employees at
retirement or termination of employment based on the respective employee salary and years of
employment with the Company. The Company provides for the Gratuity Plan based on actuarial valuations
in accordance with Accounting Standard 15 (revised). “Employee Benefits”.
Actuarial gains and losses are recognized as and when incurred.
1.9 TAXES ON INCOME
Tax liability of the company is estimated considering the provisions of the Income Tax Act, 1961.
Deferred Tax assets and liabilities arising on account of timing difference and which are capable of
reversal in subsequent periods are recognized using the tax rates and tax laws that have been enacted or
substantively enacted. Deferred tax assets are recognized only to the extent that there is reasonable
certainty that the assets can be realized in future.
1.10 FOREIGN CURRENCY TRANSACTIONS
Foreign Currency transactions are recorded by applying the rates prevailing on the date of transaction.
Any income or expenses on account of exchange difference either on settlement or on translation of
monetary items at year end rates is recognised in the Profit & Loss Account except in cases where they
relates to the loans and liabilities incurred for acquisition of fixed assets in which case they are adjusted to
the carrying cost of such assets.
(CIN : U74999DL2012PTC237394)
1.11 INVENTORIES
Items of Traded Goods are measured at lower of cost and net realisable value after providing for
obsolescence, if any. Cost of Traded Goods comprises of cost of purchase.
Work in process are valued at lower of cost and net realizable value and include raw material costs, direct
cost incurred in bringing the inventories to their present location and condition.
1.12 EARNING PER SHARE

The earnings considered in ascertaining the Company’s Earnings per share (EPS) comprise the net profit
after tax. The number of shares used in computing basic EPS is the number of shares outstanding during
the year. The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of
potential dilutive equity shares unless impact is anti dilutive.
1.13 USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make judgments, estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the
results of operations during the reporting period. The difference between the actual results and estimates
are recognized in the period in which the results are known or materialized.
1.14 CONTINGENT LIABILITY
All known liabilities whenever material are provided for and liabilities which are material and whose
future outcome cannot be ascertained with reasonable certainty are treated as contingent and disclosed by
way of notes to accounts.
ZERONE TECHNOLOGIES PRIVATE LIMITED
(CIN : U74999DL2012PTC237394)
As at As at
2 SHARE CAPITAL
March 31, 2023 March 31, 2022
Authorised Share Capital:

60,000,000 (Previous Year 2,000,000)
Equity Shares of Rs. 10/- each 600.00 200.00
Issued Subscribed and Paid up:

52,03,988 (Previous Year 1,678,483)
Equity Shares of Rs. 10/- each fully paid
up 520.40 167.85
TOTAL 520.40 167.85
2.1 The reconciliation of the number of shares outstanding is set out below:-

Particulars No. of
No. of Shares RS. Shares RS.
Equity Shares at the beginning of the

1,678,483 167.85 1,678,483 167.85
year
Add : Shares Issued with Voting Rights 3,525,505 352.55 - -
Equity Shares at the end of the year 5,203,988 520.40 1,678,483 167.85
2.2 Details of shares held by each shareholder holding more than 5% shares:-

Class of shares / Name of
No. of Shares % holding in No. of % holding in
Shareholder
held that shares Shares held that shares
M/s Zerone Technologies Security

5,186,888 99.67% 1,661,383 98.98%
Services
(Earlier known as Zerone Technologies WLL)
2.3 Aggregate number of bonus shares issued
Particulars Year No. of Shares Amount (Rs.)
Equity shares allotted as fully paid bonus shares in

2018-19 696,914 69.69
71:100 ratio by capitalizing of surplus
2.4 The company has one class of equity shares having par value of Rs. 10/- per share. Each holder of equity share is
entitled to one vote per share. The company declares and pays dividends in Indian rupees.
(CIN : U74999DL2012PTC237394)
In the event of liquidation of the company, the holders of equity shares will be entitled to receive the 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 shareholders.
2.5 Details of Shareholding of promoters:.
Shares held by promotors at the end of the Year

31st March 2023 31st March 2022
% Change % Change
No. of % holding in No. of % holding in
Promoters Name During the During the
Shares held that shares Shares held that shares
year year
Equity Share
Vaibhav Srivastava 8,550 0.16% -0.35% 8550 0.51% -
Vasudevan Krishna 8,550 0.16% -0.35% 8,550 0.51% -
Moorthy
M/s Zerone Technologies 5,186,888 99.67% 0.69% 1,661,383 98.98% -
Security Services
Total 5,203,988 100% 0% 1,678,483 100% 0%
As at As at
3 RESERVES AND SURPLUS
March 31, 2023 March 31, 2022
Surplus / (Deficit) in Statement of Profit & Loss

As per last Balance Sheet (75.97) (154.14)
Add: Profit/(Loss) for the Year 17.77 78.17
Total (58.21) (75.97)
4 LONG TERM BORROWINGS As at Mar 31, 2023 As at Mar 31, 2022

Non Current Current Non Current Current
Secured
Vehicle Loan 2.45 6.03 8.53 5.10
Term Loan from Doha Bank* 95.75 129.00 224.75 129.00
TOTAL 98.20 135.03 233.28 134.10
4.1 Vehicle loan taken from HDFC Bank Limited is secured by way of hypothecation of vehicle and is repayable in 84
Equated Monthly Instalments from the date of loan.
4.2 *The company has taken Term loan of Rs. 3.86 Crore (funded and non funded) (Previous Year 3.86 Crore) from
Doha Bank at the interest rate of 435bps over Repo Rate plus 100bps or 9.25% whichever is lower at the time of
disbursement . Term Loan is secured by of Credit Guarantee from National Credit Guarantee Company Limited. The
credit facilities under this scheme shall be secured by second charge by way of hypothecation on the entire current
assets (both present & future) of the company. It will be repayable in 36 monthly installments after 1 year of
Moratorium.
(CIN : U74999DL2012PTC237394)
As at As at
5 LONG-TERM PROVISIONS
March 31, 2023 March 31, 2022
Provision for Gratuity 37.13 30.54

Provision for Leave Encashment 3.65 3.35
TOTAL 40.78 33.88
As at As at
6 SHORT TERM BORROWINGS
March 31, 2023 March 31, 2022
Secured
Cash Credit from Doha Bank* 2,645.50 2,906.57
Current Maturity of Long Term
Borrowings (Refer Note 4) 135.03 134.10
TOTAL 2,781 3,041
6.1 *The company has taken Cash Credit limit of Rs. 30 Crore (funded and non funded) (Previous Year 30 Crore) from
Doha Bank at the interest rate of Repo Rate plus 435bps . Cash Credit Limit is secured by of hypothecation on the
entire current asset of the company both present and future, SBLC from Doha Bank Qatar, cortporate guarantee from
M/s M/s Zerone Technologies Security Services and personal guarantee of Mr. Nasser Sulaiman AI Haidar and all
partners of M/s Zerone Technologies Security Services
As at As at
7 TRADE PAYABLES
March 31, 2023 March 31, 2022
SUNDRY CREDITORS
For Suppliers 866.34 508.61
For Others 78.17 88.08
TOTAL 944.51 596.69
7.1 As certified by the management there are no amount due as on March 31, 2023 (Nil for previous year) to micro, small
& medium enterprises, hence it has not been disclosed in the books of the company. Further no interest during the year
have been paid or payable under the terms of MSMED Act.
7.2 Ageing Schedule Of Trade Payables:
As at 31-Mar-2023
Outstanding for following periods from due date of payment
Particulars
<1 Year 1-2 Years 2-3 Years > 3 Years Total
MSME - - - - -
Others 902.89 11.24 3.10 27.29 944.51
Disputed Dues- MSME - - - - -
Disputed Dues- Others - - - - -
Total 902.89 11.24 3.10 27.29 944.51

(CIN : U74999DL2012PTC237394)
As at 31-Mar-2022
Particulars
<1 Year 1-2 Years 2-3 Years > 3 Years Total
MSME - - - - -
Others 504.35 12.88 5.52 73.94 596.69
Disputed Dues- MSME - - - - -
Disputed Dues- Others - - - - -
Total 504.35 12.88 5.52 73.94 596.69
As at As at
8 OTHER CURRENT LIABILITES
March 31, 2023 March 31, 2022
Other Liabilities
Advance Service Income Received 1.63 2.13
Due to Directors 40.85 8.84
Expenses Payable 98.57 40.30
Statutory Dues 11.67 15.69
TOTAL 152.72 66.97
As at As at
9 SHORT-TERM PROVISIONS
March 31, 2023 March 31, 2022
Provision for Gratuity 14.17 13.19

Provision For Leave Encashment 1.59 1.56
TOTAL 15.76 14.75

(CIN : U74999DL2012PTC237394)
Notes on Financial Statements For the Year Ended from March 31, 2023
10 Property, Plant & Equiment and Intangible Assets
i) Property, Plant & Equipment
Gross Block Depericiation Net Block

Particulars As at Sales / As at Up to Sales / Up to As at As at
Additions For the year
April 1, 2022 Adjustments March 31, 2023 March 31, 2022 Adjustments March 31, 2023 March 31, 2023 March 31, 2022
Office Interior 0.33 - - 0.33 0.29 0.01 - 0.30 0.03 0.03

Furniture & Fixtures 12.69 - - 12.69 10.70 0.52 - 11.21 1.47 1.99
Computers 41.93 12.25 - 54.18 37.03 5.90 - 42.93 11.25 4.90
Vehicle 34.75 - - 34.75 31.12 1.43 - 32.54 2.21 3.63
Office Equipment 3.01 - - 3.01 2.71 0.10 - 2.81 0.20 0.30
Current Year 92.70 12.25 - 104.95 81.84 7.96 - 89.80 15.16 10.86
Previous Year 88.78 3.93 - 92.70 75.47 6.37 - 81.84 10.86 13.31
ii) Intangible Assets

Software 29.64 22.20 - 51.84 29.46 2.06 - 31.51 20.33 0.18
Current Year 29.64 22.20 - 51.84 29.46 2.06 - 31.51 20.33 0.18
Previous Year 29.64 - - 29.64 19.78 9.67 - 29.46 0.18 9.86
TOTAL
Current Year 122.35 34.45 - 156.80 111.30 10.01 - 121.31 35.48 11.05
Previous Year 118.42 3.93 - 122.35 95.25 16.04 - 111.30 11.05 23.17
(CIN : U74999DL2012PTC237394)
As at As at
11 NON CURRENT INVESTMENTS
March 31, 2023 March 31, 2022
Investment in Subsidiary Company 3.30 3.00

60,000 Equity shares (Previous year 30,000) @ Rs 10 each of
Spetz Health and Wellbeing Pvt. Ltd.
TOTAL 3.30 3.00
As at As at
12 DEFERRED TAX ASSETS (Net)
March 31, 2023 March 31, 2022
Deferred Tax Assets

Depreciation 4.51 5.73
Disallowance U/s 43B 14.70 12.64
Disallowance U/s 94B - 5.76
Business Loss 38.77 37.63
TOTAL 57.98 61.77
As at As at
13 LONG TERM LOANS AND ADVANCES
March 31, 2023 March 31, 2022
(Unsecured Considered Good)

Loan to Subsidiary Company-
(Spetz Health and Wellbeing Pvt. Ltd.) 672.62 325.23
TOTAL 672.62 325.23
As at As at
14 OTHER NON-CURRENT ASSETS
March 31, 2023 March 31, 2022
Security Deposits 7.72 7.64

Interest Receivable-Subsidary Company
(Spetz Health and Wellbeing Pvt. Ltd.) 117.15 87.69
TOTAL 124.87 95.33
As at As at
15 INVENTORIES
March 31, 2023 March 31, 2022
Stock-in-Trade 102.23 260.51

Work-in-Progress 1,383.00 853.34
TOTAL 1,485.23 1,113.85

(CIN : U74999DL2012PTC237394)
As at As at
16 TRADE RECEIVABLES
March 31, 2023 March 31, 2022
SUNDRY DEBTORS
Unsecured and Considered Good 1,506.13 1,421.00
TOTAL 1,506.13 1,421.00
16.1 Ageing Schedule Of Trade Receivables:

As on 31-03-2023
Particulars Less than 6 6 Months- 1 More than 3
1-2 Years 2-3 years Total
Months year Years
Undisputed Trade
receivables - Considered 937.09 149.63 215.34 45.01 159.06 1,506.13
Good
Undisputed Trade
receivables - which have
-
significant increase in
credit risk - - - - -
Undisputed Trade
receivables - credit -
impaired - - - - -
Disputed Trade
receivables - Considered -
Good - - - - -
Disputed Trade
-
Disputed Trade
impaired - - - - -
Total 937.09 149.63 215.34 45.01 159.06 1,506.13

(CIN : U74999DL2012PTC237394)
As on 31-03-2022
Particulars Less than 6 6 Months- 1 More than 3
1-2 Years 2-3 years Total
Months year Years
Undisputed Trade
receivables - Considered 720.47 151.88 314.75 63.80 170.09 1,421.00
Good
Undisputed Trade
-
Undisputed Trade
impaired - - - - -
Disputed Trade
receivables - Considered -
Good - - - - -
Disputed Trade
-
Disputed Trade
impaired - - - - -
Total 720.47 151.88 314.75 63.80 170.09 1,421.00
As at As at
17 CASH AND BANK BALANCES
March 31, 2023 March 31, 2022
Balances with Banks

Current account 0.21 54.99
TOTAL 0.21 54.99

(CIN : U74999DL2012PTC237394)
As at As at
18 SHORT TERM LOANS AND ADVANCES
March 31, 2023 March 31, 2022
(Unsecured Considered Good)

Advances to Suppliers & others 84.93 77.09
Recoverable with Government Authorities 91.06 99.30
Fixed Deposits with Doha Bank - Security 111.80 517.11
TDS Receivable 46.70 45.75
(Net of Provision Rs 5.29 Lakhs Previous year Nil)
TOTAL 334.49 739.24
As at As at
19 OTHER CURRENT ASSETS
March 31, 2023 March 31, 2022
Prepaid Expenses 3.05 16.32

Interest Accrued on FDR 7.68 3.46
Retention Money from Debtors 263.66 232.90
TOTAL 274.39 252.68
For the Year Ended For the Year Ended

20 REVENUE FROM OPERATIONS
March 31, 2023 March 31, 2022
Sales - Domestic 1,171.35 1,150.96

Sales - Export 659.96 1,077.21
Service -Domestic 1,464.27 862.64
Service -Export 8.82 2.46
TOTAL 3,304.39 3,093.27

21 OTHER INCOME
March 31, 2023 March 31, 2022
Interest on Deposits 6.01 7.47

Interest on Loan 39.02 36.07
Foreign Exchange Gain 30.65 -
Interest on Income Tax Refund 2.35 4.18
TOTAL 78.04 47.72

(CIN : U74999DL2012PTC237394)

22 COST OF GOODS SOLD
March 31, 2023 March 31, 2022
Opening Stock
Stock in Trade 260.51 146.31
Add: Purchases 2,341.55 2,275.36
2,602.05 2,421.67
Stock in Trade 102.23 260.51
TOTAL 2,499.82 2,161.17

23 CHANGE IN INVENTORIES
March 31, 2023 March 31, 2022
Opening Stock
Work in Progress 853.34 519.61
Less: Closing Stock
Work in Progress 1,383.00 853.34
TOTAL (529.66) (333.73)

24 EMPLOYEE BENEFIT EXPENSES
March 31, 2023 March 31, 2022
Salaries & Wages 448.37 369.41

Contribution to Provident & Other Funds 7.60 7.51
Gratuity Expenses (Refer note 33) 7.57 6.14
Leave Encashment (Refer note 33) 0.34 1.72
Employee Welfare Expenses & Others 2.25 2.94
TOTAL 466.12 387.73

25 FINANCE COST
March 31, 2023 March 31, 2022
Interest Paid 279.42 222.93

Bill Discounted Charges - 1.17
Loan Processing Charges 17.41 11.07
296.83 235.17
(CIN : U74999DL2012PTC237394)

26 OTHER EXPENSES
March 31, 2023 March 31, 2022
Direct Expenses
Licences & Support Charges 129.77 181.55
Custom Duty, Freight & Forwarding 88.63 48.09
Charges
Site Expenses 253.63 472.03 191.37 421.01
Administrartive Expenses
Bank Charges 5.77 8.20
Auditor's Remuneration 2.75 2.75
Business Promotion 10.15 6.12
Conveyance Paid 1.46 1.91
Insurance Expenses 2.98 2.06
Rent 13.05 13.55
Postage & Courier Charges 27.16 14.86
Printing & Stationery Expenses 0.91 1.13
Tour & Travelling Expenses 19.72 4.83
Telephone Expenses 3.35 2.80
Electricity Expenses 1.49 1.29
Interest Paid on TDS 0.77 0.26
Repair & Maintenance Computer 0.19 1.06
Laptop & Printer Hire charges 0.97 2.76
Rates & Taxes 4.24 0.28
Office Maintenance Expenses 4.82 5.06
Training Charges 0.08 2.10
Vehicle Running, Repair & Maintenance 7.07 8.78
Late fees 0.32 0.53
Professional & Technical Charges 30.76 45.35
Donation 0.05 -
Foreign Exchange and Gain - 4.25
Amount Written off 1.09 139.15 13.12 143.05
611.18 564.06

26.1 AUDITOR'S REMUNARATION
March 31, 2023 March 31, 2022
Audit Fees 1.80 1.80

Tax Audit Fees 0.50 0.50
Income Tax Matters 0.20 0.20
Others 0.25 0.25
2.75 2.75
(CIN : U74999DL2012PTC237394)
CONTINGENT LIABILITIES & CAPITAL As At As At

27
COMMITMENTS March 31, 2023 March 31, 2022
a) Contingent Liabilities
-Bank Guarantee Issued 156.00 108.17
b) Capital Commitment Nil Nil

28 ADDITIONAL INFORMATION
March 31, 2023 March 31, 2022
a) Value of imports on CIF Basis 622.09 466.12

b) Expenditure in Foreign Currency NIL NIL
c) FOB value of Exports
Services- Export 8.82 2.46
Goods- Export 659.96 1,077.21

29 EARNING PER SHARE (EPS)
March 31, 2023 March 31, 2022
Net Profit after Tax 17.77 78.17

Number of Equity Shares 5,203,988 1,678,483
Weighted Average Number of Equity Shares 1,910,103 1,678,483
Nominal value of share 10/- 10/-
Earning per Share (Basic) 0.34 4.66
Earning per Share (Diluted) 0.93 4.66
30 RELATED PARTY DISCLOSURES
Disclosure as required by Accounting Standard (AS) – 18 on “Related Party Disclosures” are detailed below:
Information regarding Related Parties and transaction with them is given below:
a) Name of Related Party where control exists irrespective of whether transaction have occurred or not
Relationship Name of Realted Parties

Holding Company M/S Zerone Technologies Security Services
Infosphere WLL
Under Common Control Spotcheck Health and Wellness Services Pvt. Ltd.
International Zerone Pvt. Ltd.
Associates-Subsidiary Compamy SPETZ Health & Wellbeing Pvt. Ltd. (Subsidiary w.e.f. 12-Aug-2022)
Mr. Rahul Mathur ( Director)
Key Management Personnel Mr Jaspal Sigh Sachdeva (Director)
Mr. Vasudevan Krishnamoorthy (Director)
Mrs. Priya Mathur
Relative of Key Management Personnel
Mrs. Maninder Kaur
(CIN : U74999DL2012PTC237394)
b) Details of related parties with whom transactions have taken place during the year/Previous year:
Relationship Name of Realted Parties

Holding Company M/S Zerone Technologies Security Services
Under Common Control International Zerone Private Limited
Associates-Subsidiary Compamy SPETZ Health & Wellbeing Pvt. Ltd. (Subsidiary w.e.f. 12-Aug-2022)
Key Management Personnel Mr. Rahul Mathur (Director)
Mr Jaspal Singh Sachdeva (Director)
Mrs. Priya Mathur
Relative of Key Management Personnel
Mrs. Maninder Kaur
c) The Company’s related party For the Year Ended For the Year Ended
transactions are summarised as March 31, 2023 March 31, 2022
Director's Remuneration
Mr. Rahul Mathur 36.60 40.21
Mr Jaspal Singh Sachdeva 32.45 29.23
69.05 69.44
Sale of Goods-Export
International Zerone Private Limited 167.70 274.94
167.70 274.94
Purchase of Goods-Import
217.66 95.06
Receiving of Services
Mrs. Priya Mathur 8.40 8.40
Mrs. Maninder Kaur 4.80 4.80
SPETZ Health & Wellbeing Private Limited 10.92 -
24.12 13.20
Interest Income
SPETZ Health & Wellbeing Private Limited 39.02 36.07
39.02 36.07
Issue of Share Capital
M/S Zerone Technologies Security Services 352.55 -
352.55 -
Loan Given during the year

361.23 95.10
(CIN : U74999DL2012PTC237394)
Investment- Equity Purchase

SPETZ Health & Wellbeing Private Limited 0.30 -
0.30 -
Loan Received during the year

13.84 1.10
d) The Company’s related party balances As At As At

are summarised as follows: March 31, 2023 March 31, 2022
Long-Term Loans & Advances

672.62 325.23
Trade Payables
Infosphere WLL 6.95 6.42
Zerone Technologies Security Services 5.87 6.09
218.96 107.63
Trade Receivables
Zerone Technologies Security Services 159.11 118.53
International Zerone Private Limited - 115.38
Spotcheck Health and Wellness Services Pvt. Ltd. 2.55 1.65
161.67 235.56
Interest Receivables
117.15 87.69
Due To Key Management Personnel and Relative of Key Management Personnel

Mr. Rahul Mathur 14.21 8.84
Mrs. Priya Mathur 1.89 7.63
Mr Jaspal Singh 26.64 2.01
Mrs Maninder Kaur 0.58 0.58
43.32 19.06
(CIN : U74999DL2012PTC237394)
31 ADDITIONAL REGULATORY INFORMATION
a) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) to or in any other persons or entities, including foreign entities (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall:
•Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the Company or
•Provide any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.
b) The Company has not received any funds from any persons or entities, including foreign entities (“Funding Parties”),
with the understanding, whether recorded in writing or otherwise, that the Company shall:
• Directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the Funding Party or
• Provide any guarantee, security, or the like from or on behalf of the Ultimate Beneficiaries.
c) The company has not declared or paid any dividend during the year.
d) The Company has provided loan to Associate company during the year as under
(i) Aggregate amount granted/provided during the year : Rs 361.23 Lakhs
(ii) Balance outstanding as at the balance sheet date in respect of above case : Rs 789.77 Lakhs (including interest
amounting to Rs 117.15 Lakhs)
e) The company does not possess any immovable property which is not held in the name of the company.
f) The Company has not revalued any of its Property, Plant and Equipment and Intangible Assets.
g) There is no proceedings initiated or is pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
h) The Company has not defaulted in repayment of any loan or borrowings or in the payment of interest thereon to any
lender, further company has not declared wilful defaulter by any bank or financial institution or any other lender.
i) The Company has neither entered into any transaction with struck off company nor having any balance outstanding
with the same.
j) During the year, company is not required to register any charge or satisfy any charge with Registrar of Companies.
k) 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.
32 PREVIOUS YEAR'S FIGURES
Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosure.
(CIN : U74999DL2012PTC237394)
33 EMPLOYEE BENEFITS

a DEFINED CONTRIBUTION PLANS
March 31, 2023 March 31, 2022
Employer's contribution to Providend fund 7.29 7.38

Employer's contribution to ESI 0.30 0.13
TOTAL 7.60 7.51

March 31, 2023 March 31, 2022
b DEFINED BENEFIT PLAN
Gratuity Leave Gratuity Leave
Encashment Encashment
Current service cost 7.17 0.91 6.54 0.97
Acquisition Adjustment(In)
Acquisition Adjustment(out)
Interest cost 3.14 0.35 2.55 0.25
Expected return on plan assets
Acturial (gains)/loss (2.74) (0.92) (2.96) 0.51
Past service cost
Curtailment and settlement cost/(credit)
Net cost 7.57 0.34 6.14 1.72

March 31, 2023 March 31, 2022
c ACTUARIAL ASSUMPTIONS
Discount Rate 7.36% 7.36% 7.18% 7.18%
Expected Rate of increase in Compensation
Levels 6.50% 6.50% 6.50% 6.50%
Expected Rate of Return on Plan Assets - - - -
Expected Average remaining working lives of
employees (years) 20.37 20.37 20.74 20.74
(CIN : U74999DL2012PTC237394)
d Recognition of Present Value of Defined Benefit Obligation and Fair Value of Plan Assets
March 31, 2023 March 31, 2022
Particulars
Change in Projected Benefit Obligation
(PBO)
Projected benefit obligation at beginning of year
43.73 4.91 37.59 3.66
Acquisition (In) - - - -
Acquisition (out) - - - -
Current Service Cost 7.17 0.91 6.54 0.97
Interest Cost 3.14 0.35 2.55 0.25
Benefits Paid - - - (0.48)
Curtailment and Settlement Cost - - - -
Contribution by Plan Participants - - - -
Past services Cost - - - -
Actuarial (Gains) /Loss (2.74) (0.92) (2.96) 0.51
Projected benefit obligation at year end 51.30 5.25 43.73 4.91
Change in Plan Assets : - - - -
Fair value of plan assets at beginning of year - - - -
Expected return on plan assets - - - -
Actuarial (gain) / loss on plan assets - - - -
Employer contribution - - - -
Contribution by plan participants - - - -
Settlement cost - - - -
Benefits paid - - - -
Fair value of plan assets at year end - - - -
Net funded status of the plan (51.30) (5.25) (43.73) (4.91)
Net asset/ (liability) recognised in Balance
(51.30) (5.25) (43.73) (4.91)
Sheet
The estimates of future salary increases considered in the actuarial valuation take into account inflation, seniority
promotion and other relevant factors on long term basis.
(CIN : U74999DL2012PTC237394)
34 FINANCIAL RATIO ARE AS UNDER :
As at / Year ended As at / Year ended

S.No Name Of Ratio Numerator Denomenator Variation Reason of Variation
31-03-2023 31-03-2022
(a) Current Ratio (In Times) Current Assets Current Liabilities 0.92 0.96 (0.04) Due to change in Current Assets
Debt-Equity Ratio (in Times)
(b) Borrowings Shareholders Equity 0.21 2.54 (0.92) Due to change in Borrowings
(c_) Debt Service Coverage Ratio (in %) Earnings for Debt Debt Service 49.65% 10.39% 378% Due to change in EBITDA
(d) Return on Equity Ratio (in %) Profit After Tax Avg Shareholders Equity 6.41% 148.07% -96% Due to change in PAT & Equity
Inventory Turnover Ratio (in Times) Cost of Goods sold
(e_) Avg Value of Inventory 1.92 2.43 -0.21 Due to change in COGS
Trade receivables Turnover Ratio (in Times)

(f) Net Sales Avg Accounts receivable 2.26 2.01 0.12 Due to change in Net Sales
Trade Payables Turnover Ratio (in Times)

(g) Supply of Goods Avg Accounts Payables 3.04 3.60 -0.15 Due to change in supply of Goods
Net Capital Turnover Ratio (in Times)

(h) Net Sales Avg Working Capital (15.35) (59.24) -0.74 Due to change in working capital
Net Profit Ratio (in %)

(i) Profit After Tax Revenue From operation 0.54% 0.03 -79% Due to change in PAT
Return on capital Employed (in %)

(j) EBIAT Capital Employed 56.14% 96.36% -42% Due to change in EBIAT
Return of Investments (in %) Income generated on

(k) Avg Investments N/A N/A 0% N/A
Investments
*Certain ratios marked as NA has not been calculated as the figures either in Numerator or denominator is NIL.


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Zerone BS M23 Final For Sign

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Zerone Technologies Private Limited

EQUITY AND LIABILITIES

Raj Kumar Garg Rahul Mathur Krishna Moorthy

Raj Kumar Garg

As per our report of even date attached

Raj Kumar Garg Rahul Mathur Krishna Moorthy

1 SIGNIFICANT ACCOUNTING POLICIES

1.1 NATURE OF OPERATIONS

1.2 SMALL & MEDIUM SIZED COMPANY

1.3 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1.5 REVENUE RECOGNITION

1.6 Property, Plant & Equipment and Intangible Assets

1.8 EMPLOYEE BENEFITS

b) Defined Benefit Plans

1.12 EARNING PER SHARE

1.13 USE OF ESTIMATES

Authorised Share Capital:

Issued Subscribed and Paid up:

TOTAL 520.40 167.85

As at March 31, 2023 As at March 31, 2022

Equity Shares at the beginning of the

As at March 31, 2023 As at March 31, 2022

M/s Zerone Technologies Security

2.3 Aggregate number of bonus shares issued

Particulars Year No. of Shares Amount (Rs.)

Equity shares allotted as fully paid bonus shares in

2.5 Details of Shareholding of promoters:.

Shares held by promotors at the end of the Year

Total 5,203,988 100% 0% 1,678,483 100% 0%

Surplus / (Deficit) in Statement of Profit & Loss

Total (58.21) (75.97)

4 LONG TERM BORROWINGS As at Mar 31, 2023 As at Mar 31, 2022

TOTAL 98.20 135.03 233.28 134.10

Provision for Gratuity 37.13 30.54

TOTAL 40.78 33.88

TOTAL 2,781 3,041

TOTAL 944.51 596.69

Total 902.89 11.24 3.10 27.29 944.51

Total 504.35 12.88 5.52 73.94 596.69

TOTAL 152.72 66.97

Provision for Gratuity 14.17 13.19

TOTAL 15.76 14.75

10 Property, Plant & Equiment and Intangible Assets

i) Property, Plant & Equipment

Gross Block Depericiation Net Block

Office Interior 0.33 - - 0.33 0.29 0.01 - 0.30 0.03 0.03

ii) Intangible Assets

Investment in Subsidiary Company 3.30 3.00

TOTAL 3.30 3.00

Deferred Tax Assets

TOTAL 57.98 61.77

(Unsecured Considered Good)

TOTAL 672.62 325.23

Security Deposits 7.72 7.64

TOTAL 124.87 95.33

Stock-in-Trade 102.23 260.51

TOTAL 1,485.23 1,113.85

TOTAL 1,506.13 1,421.00

16.1 Ageing Schedule Of Trade Receivables:

Total 937.09 149.63 215.34 45.01 159.06 1,506.13

Total 720.47 151.88 314.75 63.80 170.09 1,421.00

Balances with Banks