ICFAI FOUNDATION FOR HIGHER EDUCATION

REPORT
ON
FINANCIAL STATEMENTS OF

ABHISHEK INTEGRATIONS LTD

SUBMITTED BY-

Seat no. Name Enrollment No.

86 Rituraj 23BSPHH01C0583

87 Kaushiki 23BSPHH01C0146

SUBMITTED TO:-

Dr. Richa Gupta

Assistant Professor,
Finance & Accounting,
ICFAI Business School(IBS) Hyderabad

1
 Table of Contents
S.No Topic Page.No

1 Statement of Profit and Loss 3-8

2 Balance Sheet 9-16

3 Cash Flow Statements 17-18

4 Detailed Analysis of other Reports 19-20

2
 STATEMENT OF PROFIT AND LOSS

ABHISHEK INTEGRATIONS
LIMITED STATEMENT OF
PROFIT & LOSS
For the Year For the Year
Ended on Ended on
Particulars Note No. 31/03/2023
Rs. (In Lacs) 31/03/2022
Rs. (In Lacs)
INCOME 2,635.75 1,571.19
Revenue from Operations (380.57) (246.59)
Less: GST 16 6.87 5.48
Other Income 2,262.04 1,330.08
Total Income 17 259.28
396.66
EXPENSES
316.09 -
Project Expenses
18 (276.97) (244.76)
Purchase of Stock-in-Trade
19 1,637.09 1,202.07
20 43.67 11.56
Finance Cost 21 8.89 4.72
Depreciation 22 45.73 35.22
Other 9 2,171.17 1,268.08
Expenses 23 90.87 62.00
Total
Expenses -
90.87 -
Excepetional Items - 62.00
90.87
-
Profit before Tax 22.22 62.00
Tax Expenses 1.41
Current Tax 9.68
Deferred Tax 1.98
67.25 50.34
2.23 1.80
Basic
24 2.23 1.80
Diluted
Significant Accounting Policies and
Notes to Financial Statement

3
 For the Year ended For the Year ended
Note
Particulars on 31/03/2023 on 31/03/2022
No.
Rupees (In Lacs) Rupees (In Lacs)
16 Revenue From Operations
Sale of Services 2326.24 1571.19
Sale of Goods 309.51 0.00
Total ….. 2635.75 1571.19

Note 1) Revenue from operations

This is the total income generated by a company from its core business activities during a
specific period. It is also known as sales revenue or sales turnover.

Sale of Services:
 From the above notes we can see that, in the year 2023, the company generated Rs.
2326.24 Lacs from the sale of services during this year. While for the year 2022, the
company generated Rs. 1571.19 Lacs from the sale of services during the previous
year.
Sale of Goods:
 We can also observe in the year 2023, the company generated Rs. 309.51 Lacs from
the sale of goods during this year. While in the year 2022 there were no reported sales
of goods.

 So, Total revenue from operations for the year 2023 was 2635.75, this is calculated by
adding the revenue from the sales of services (Rs. 2326.24 Lacs) and the revenue
from the sale of goods (Rs. 309.51 Lacs) for the year.

 Similarly, Total revenue from operations for the year 2022 i.e. the previous year was
1571.19 Lacs which was solely from the sale of services as there were no sales of
goods.
The above calculations are important for assessing a company's financial performance and
growth over time. The increase in revenue from operations from the previous year to the
current year suggests that the company has experienced growth in its core business activities.
It's essential for stakeholders, including investors and management, to analyze such financial
data to make informed decisions.

4
 Project Expenses
18 Work Execution Expenses 171.20 84.24
Site Expenses 9.18 4.46
Freight Charges 1.85 0.56
Airport Entry Pass Expense 1.47 0.96
Labour Cess 16.44 12.20
Project 0.00
Material 61.71 9.68
Opening 210.17 208.89
Stock
271.89 218.57
Add : Purchases
75.38 61.71
Less: Closing Stock
196.51 156.85
Project Material consumed
396.66 259.28
Total

Note 2) Cost of Materials Consumed

Cost of materials consumed is calculated: - Opening inventory + Purchases- Closing Stock.
Opening Stock is the value of raw materials or inventory that a business had at the beginning
of a specific period. In the above note, the opening stock is 61.71 (for 2022) and 9.68 (for
2023).
Purchases represent the value of raw materials or inventory acquired or bought during a
specific period.
In this case, the purchases for the previous period are 210.17, and for the current period, they
are 208.89.
Total Material Available:
To calculate the total material available for consumption, you add the opening stock to the
purchases for each period. For the previous period, it's 61.71 (opening stock) + 210.17
(purchases) = 271.89, and for the current period, it's 9.68 (opening stock) + 208.89
(purchases) = 218.57.
Closing Stock represents the value of raw materials or inventory that a business has at the
end of a specific period. In this case, the closing stock for the previous period is 75.38, and
for the current period, it's 61.71.
Material Consumed:
To determine the cost of materials consumed, you subtract the closing stock for each period
from the total material available for each period.
For the previous period, it's 271.89 (total material available) - 75.38 (closing stock) = 196.51.
For the current period, it's 218.57 (total material available) - 61.71 (closing stock) = 156.85.
Total Cost of Materials Consumed:
Finally, you sum up the material consumed for the previous and current periods to get the
total cost of materials consumed.
Total cost of materials consumed = 196.51 (previous period) + 156.85 (current period) =
353.36.
So, the total cost of materials consumed is 353.36. This calculation is important for

5
businesses to track their raw material usage and associated costs during a specific time frame,
helping them manage their inventory and assess their cost of production.

1 2 Employees' Benefit Expenses

Salary, Wages & Bonus 1469.39 1075.90
Contribution to Provident Fund & Other 166.26 124.62
Funds Staff Welfare 1.44 1.55
Total ….. 1637.09 1202.07

Note 3) Employee Benefit Expenses

In the above note, the following calculations have been made as:
Salary, Wages & Bonus:
 This component represents the total compensation paid to employees in the form of
salaries, wages, and bonuses during a specific period.
In the above note, the total Salary, Wages & Bonus expense for the period is 1469.39.
Contribution to Provident Fund & Other Funds:
 Employers often contribute to various funds on behalf of their employees, such as the
Provident Fund, which is a retirement savings scheme.
In the above note, the Contribution to Provident Fund & Other Funds expense for the
period is 166.26.
Staff Welfare:
 Staff Welfare expenses include expenditures on employee benefits and perks that are
not directly related to salaries but are provided for the welfare and well-being of the
employees.
In the above note, the Staff Welfare expense for the period is 1.44.
Total Employee Benefit Expenses:
 To calculate the total employee benefit expenses for the period, we need to add the
expenses from the three components mentioned above.
Total Employee Benefit Expenses = Salary, Wages & Bonus + Contribution to Provident
Fund & Other Funds + Staff Welfare
Total Employee Benefit Expenses = 1469.39 + 166.26 + 1.44 = 1637.09
So, the total employee benefit expenses for the period are 1637.09.
The above calculations are important for businesses to track and report their expenses related
to employee benefits. It includes not only the direct compensation paid to employees but also
contributions to various funds and expenses aimed at improving employee well-being and
satisfaction, which are important aspects of managing a workforce and ensuring legal and
ethical compliance.

6
9 Property, Plant & Equipment and Intangible Assets

Note 4) Depreciation and Amortization

In the above note provided information outlines the methods and principles for calculating
depreciation on tangible assets and amortization on intangible assets in accordance with the
Companies Act, 2013.
Depreciation Calculation:
Straight Line Method (SLM):
 The company uses the Straight-Line Method for calculating depreciation on tangible
assets. Under this method, the depreciation expense is evenly spread over the
estimated useful life of the asset.
 In the above note, Depreciation on Buildings is 4.35 which gives a net amount of
123.66 , on Vehicles 5.45 which gives a net amount of 31.16, on Furniture 0.07 which
gives a amount of 0.93, on Office equipment 0.01 which gives a amount of 0.47, on
Computer 0.19 which gives a amount of 1.91 and on Air Conditioner 0.01 which
gives a amount of 1.08 in the year 2023.
Given below is the detail of useful life of the asset.

Sr. No. Class of Assets Useful Life

1 Plant & Machinery – Earth moving equipment 9 years
2 Plant & Machinery – Civil Construction 12 years
3 Plant & Machinery – Telecom network equipment 13 years
4 Vehicle - Two wheelers 10 years
5 Vehicle - Four wheelers 8 years
6 Computer 3 years
7 Furnitures & Fixtures 10 years
8 Office Equipment 5 yeas
9 Office Building 60 years

7
 Note 5) E.P.S. and E.P.S Diluted

In the above note the calculations for earnings per equity share, both on a basic and
diluted basis, are important financial metrics used to measure a company's
profitability and its ability to generate earnings for its equity shareholders.
 These adjustments are made to reflect the potential increase in the number of
outstanding shares due to dilution.
 In the above note, the net profit attributable to equity shareholders is the same for both
Basic and Diluted EPS, which is 2.23 for the current period and 1.80 for the previous
period.
 If there are no potentially dilutive securities, the diluted EPS will be the same as the
basic EPS. In the above note, both the Basic and Diluted EPS figures are the same.
This suggests that there are no potentially dilutive securities in this case.
 In summary, the Diluted EPS calculation is performed by adjusting the net profit
attributable to equity shareholders to account for the potential dilution effect of
securities like stock options or convertible bonds.

8
 BALANCE SHEET

ABHISHEK
INTEGRATIONS
LIMITED BALANCE
SHEET
As At 31/03/2023 Rs. As At 31/03/2022
Pa rt i c ula rs Note No.
(In Lacs) Rs. (In Lacs)
EQUITY AND
LIABILITIES
[1] Shareholders' Funds
[a] Share Capital 1 301.08 301.08
[b] Reserves & Surplus 2 545.51 478.26
[c] Money Received - -
against Share Warrants 846.59 779.34

[2] Share Application

Money Pending
Allotment - -
[3] Non-Current
Liabilities
[a] Long Term Borrowings 3 133.05 60.97
[b] Deferred Tax Liabilities 4 3.05 1.64
(Net)
[c] Other Long Term - -
Liabilities
[d] Long Term Provisions 56 8.91 4.39
145.01 66.99
[4] Current Liabilities
[a] Short Term Borrowings 276.04 137.37
[b] Trade Payables 7
Dues of Micro & Small - -
Enterprises
Dues of Other than 65.70 83.49
Micro & Small
Enterprises
[c] Other Current 8 53.85 49.96
Liabilities
[d] Short Term Provisions 59 31.93 13.75
427.53 284.57
Total ..... 1,419.13 1,130.90
ASSETS
[1] Non-Current Assets
(a) Property, Plant &
Equipment and Intangible
Assets 168.17 159.21

9
(i) Property, Plant and
Equipment
(ii) Intangible Assets - -
(b) Non Current Investments - -
[c] Deferred Tax Assets 4 - -
(Net)
(d) Long Term Loans and 10 4.03 31.60
Advances
(e) Other Non-Current 11 191.56 285.10
Assets 363.76 475.91

[2] Current Assets

(a) Current Investments - -
(b) Inventories 12 644.35 353.73
(c) Trade Receivables 13 213.62 145.43
(d) Cash & Cash 14 29.45 23.33
Equivalents
(e) Short Term Loans and 10 135.86 123.91
Advances
(f) Other Current Assets 15 24 32.07 8.60
1,055.37 655.00
Total ..... 1,419.13 1,130.90
Significant Accounting
Policies and
Notes to Financial
Statement - -
As per our report of even date attached herewith For, ABHISHEK
INTEGRATIONS LIMITED
For, Gattani & Associates
Chartered Accountants
FRN : 103097W sd/- sd/-
Sanjay D Kukadia Sanjay N
Dubey
sd/- Director Managing
Director
Harish Kumar Maheshwari DIN: 09116868 DIN:
02218614
Partner
M.No.74113 sd/- sd/-
Ahmedabad Ravindra M Rawat Jyoti S
Dubey
May 09, 2023 Chief Finance Officer Whole
Time Director
UDIN: 23074113BGWKPI1807 DIN: 07177326 sd/-

10
Note As At As At
No. 31/03/2023 31/03/2022
Pa rt i c ula rs
Rupees Rupees
(In Lacs) (In Lacs)
1 Share Capital
350.00 350.00
[a] Authorised :
35,00,000 (P.Y. 35,00,000) Equity Shares at par value of Rs. 10/- each
[b] Issued, Subscribed & Paid-up

30,10,785 (P.Y. 30,10,785) Equity Shares at par value of Rs. 10/- each
fully paid up 301.08 301.08
Total ….. 301.08 301.08

Note 1) Shareholder Funds

Share Capital Calculation:

 Authorized Share Capital:

The authorized share capital is the maximum amount of capital that a company is
legally allowed to issue. It represents the total value of shares that the company can
issue over its lifetime.
In this above note, the authorized share capital is 35,00,000 (P.Y. 35,00,000) equity
shares at a par value of Rs. 10/- each. This means the company is authorized to issue
up to 35,00,000 shares, and each share has a face value of Rs. 10.
 Issued, Subscribed & Paid-up Share Capital:
The issued, subscribed, and paid-up share capital represents the portion of the
authorized share capital that has been issued to shareholders, and the shareholders
have paid the full par value of the shares.
In above note, as of March 31, 2023, the company has issued 30,10,785 (P.Y.
30,10,785) equity shares at a par value of Rs. 10/- each, and these shares are fully
paid-up.
Therefore, the issued, subscribed & paid-up share capital is calculated as follows:
Number of shares issued and paid-up: 30,10,785
Par value per share: Rs. 10/-
Total value of issued, subscribed & paid-up share capital = 30,10,785 shares * Rs. 10/- per
share = Rs. 301,07,850/- (which is approximately Rs. 301.08 Lacs).

11
2 Reserves & Surplus
Pa rt i c ula rs As At As At
31/03/2023 31/03/2022
Rupees Rupees (In
(In Lacs) Lacs)
General Reserve 0.00 0.00
Balance as per last year Balance Sheet 0.00 0.00
Add: Transfer from Statement of Profit & Loss 0.00 0.00
462.89 66.89
Security Premium 396.00
0.00
Balance as per last year Balance Sheet
0.00 0.00
Add: Addition during the year
462.89 462.89
Less:Utilised during the year
15.37 15.03
Surplus in the Statement of Profit and Loss 67 50.34
Balance as per last financial Statement 0.00 50.00
Add : 83 15.37
Profit for 546 478.26
the year
Less:
IPO
Expenses

Total

 To calculate the total General Reserve, we start with the balance as per the last
financial statement, add the profit for the year, and then subtract the IPO expenses.
This total represents the General Reserve as of the current financial statement.
 In the above note, the General Reserve starts with a balance of Rs. 462.89 lacs, and
after considering the profit for the year (Rs. 15.37 lacs) and subtracting IPO expenses
(Rs. 67 lacs), it results in a General Reserve of Rs. 410.52 lacs.
Total Surplus Calculation:
 The total surplus is calculated by summing the balance as per the last year's financial
statement, the profit for the year, and the Security Premium (if applicable). Then, we
will subtract any amounts utilized during the year to arrive at the total surplus.
 In the above note, the total surplus starts with a balance of Rs. 462.89 lacs, adds the
profit for the year (Rs. 15.37 lacs), and subtracts IPO expenses (Rs. 67 lacs) and any
other deductions, resulting in a total surplus of Rs. 478.26 lacs in 2022 and 546 Lacs
in 2023.

12
 As at As At
31/03/2023 31/03/2022
Long Term Borrowings Security
Rupees Rupees (In
(In Lacs) Lacs)
From Banks
Yes Bank (Note No. 3.1)
HDFC Bank (Note No. 3.2)
IDFC First Bank Ltd (Note No.
3.3) Mortgage of Office 0.00 50.77
3
Mortgage of Vehicle 8.13 10.20
Moneyvise Financial Services Unsecured 38.76 0.00
Ltd. (Note No. 3.4)
Neogrowth Credit Pvt. Ltd. Unsecured 36.01 0.00
(Note No. 3.5) Unsecured 50.14 0.00
Total ….. 133.05 60.97
3.1 Office Loan is repayable in 196 monthly instalments from Dec- 2021.
3.2 Vehicle Loan is repayable in 84 monthly instalments from Jul- 2020.
3.3 Business Loan is repayable in 36 monthly instalments from 03/03/2023.
3.4 Business Loan is repayable in 36 monthly instalments from 05/04/2023.
3.5 Business Loan is repayable in 36 monthly instalments from 05/01/2023.
4 As at As At
31/03/2023 31/03/2022
Deffered Tax Liabilities/Assets (Net)
Rupees Rupees (In
(In Lacs) Lacs)
Deferred Tax
Liabilities arising out
of timing difference
relating to : Difference
of Depreciation as per
Tax Provision and
Company Law
Deferred Tax Assets
arising out of timing 2.78
5.38
difference relating to : 0.00
Disallowance of Expenses -2.33 -1.15
Total Deferred Tax Liabilities/(Assets) 3.05 1.64
5 As At 31/03/2023 As At 31/03/2022
Long & Short Term Provisions Non Current Non Current
Current Current
Gratuity Provision 8.91 4.39 0.02
Provision for Taxation 0.00 31.90 0.00 13.73
Total ….. 8.91 31.93 4.39 13.75

13
Note 2) Non- Current Liabilities
Long Term Borrowings:
Long-term borrowings represent the amount of money borrowed by the company for a period
exceeding one year. In the above note , the lender details are:
 Yes Bank (Note No. 3.1):
Amount borrowed: Rs. 0.00 lacs in 2023
Security: Mortgage of Office.

HDFC Bank (Note No. 3.2):

Amount borrowed: Rs. 8.13 lacs in 2023
Security: Mortgage of Vehicle.
Repayment: The loan is repayable in 84 monthly installments from July 2020.

IDFC First Bank Ltd (Note No. 3.3):

Amount borrowed: Rs. 38.76 lacs in 2023
Security: Unsecured.
Repayment: The business loan is repayable in 36 monthly installments from March 3,
2023.

Moneyvise Financial Services Ltd. (Note No. 3.4):

Amount borrowed: Rs. 36.01 lacs. In 2023
Security: Unsecured.
Repayment: The business loan is repayable in 36 monthly installments from April 5,
2023.

Neogrowth Credit Pvt. Ltd. (Note No. 3.5):

Amount borrowed: Rs. 50.14 lacs.
Security: Unsecured.
Repayment: The business loan is repayable in 36 monthly installments from January
5, 2023.

The total long-term borrowings as of March 31, 2023, amount to Rs. 133.05 lacs,
while it was Rs. 60.97 lacs as of March 31, 2022. This indicates an increase in long-
term borrowings over the year.
Deferred Tax Liabilities:
Arising out of timing differences relating to the difference in depreciation as per tax provision
and company law: Rs. 5.38 lacs in 2023
Arising out of timing differences relating to disallowance of expenses: Rs. -2.33 lacs
(negative value indicating an asset). In 2023
The net deferred tax liabilities/assets as of March 31, 2023, amount to Rs. 3.05 lacs, while it
was Rs. 1.64 lacs as of March 31, 2022.

14
Long & Short Term Provisions
These provisions represent amounts set aside for gratuity payments and tax liabilities. The
figures are categorized as non-current and current, depending on the expected timing of
utilization or settlement.
The above calculations and disclosures are important for stakeholders, including investors
and regulators, as they provide insights into the company's financial health, its borrowing
activities, tax-related positions, and provisions for future obligations.

13 Current
As at As at
Trade Receivables
31/03/2023 31/03/2022
(Unsecured, considered good)
Rupees Rupees (In
(In Lacs) Lacs)
Book Debts 213.62 145.43
Total ….. 213.62 145.43

Note 3) Trade Receivables

1) Trade Receivables
In the above note, for the year March 31, 2023, and March 31, 2022. Trade receivables
represent the amounts owed to the company by its customers for goods or services that
have been delivered but not yet paid for.

Trade Receivables Calculation:

Book Debts:
Book debts refer to the outstanding amounts that the company's customers owe for
products or services they have purchased on credit.
As of March 31, 2023, the total book debts amount to Rs. 213.62 lacs.
As of March 31, 2022, the total book debts amounted to Rs. 145.43 lacs.
The above calculations are straightforward. The company keeps records of amounts owed by
customers in its accounting system. The figures provided represent the total outstanding
receivables as of the specified dates. The term "Unsecured, considered good" indicates that
the company considers these receivables collectible and not subject to significant credit risk.

15
Note 4) Cash & Cash Equivalents
In the above note the Cash & Cash Equivalents calculation are as follows:

Cash on Hand:
Cash on hand represents the actual physical cash that the company has in its possession at
the specified dates. It is categorized as non-current and current based on the expected
usage.
As of March 31, 2023, there is no cash on hand classified as non-current (0.00 lacs), and
there is 3.02 lacs in cash on hand classified as current.
As of March 31, 2022, there is no cash on hand classified as non-current (0.00 lacs), and
there is 1.54 lacs in cash on hand classified as current.
Balance With Banks:
Balance with banks represents funds held in bank accounts that are available for
immediate use. Similar to cash on hand, these funds are categorized as non-current and
current based on their expected usage.
As of March 31, 2023, there are 26.43 lacs held with banks classified as non-current and
0.00 lacs as current.
As of March 31, 2022, there are 21.79 lacs held with banks classified as non-current and
0.00 lacs as current.
Total Cash & Cash Equivalents:
The total cash and cash equivalents are the sum of cash on hand and balances with banks
for each category (non-current and current).
As of March 31, 2023, the total cash and cash equivalents are calculated as follows:
Non-Current: 0.00 lacs (cash on hand) + 26.43 lacs (balance with banks) = 26.43 lacs.
Current: 3.02 lacs (cash on hand) + 0.00 lacs (balance with banks) = 3.02 lacs.
As of March 31, 2022, the total cash and cash equivalents are calculated similarly, with
values of 1.54 lacs for current and 21.79 lacs for non-current.
The above calculations provide a summary of the company's cash and cash equivalents at
the end of each financial year, differentiating between non-current (long-term) and current
(short-term) holdings. These figures are essential for assessing the company's liquidity
and its ability to meet short-term and long-term financial obligations.

16
 CASH FLOW STATEMENT
ABHISHEK INTEGRATIONS LIMITED

17
●Operating activities:
Negative operating net cash flows in both 2022 and 2023 indicate that the company is using
more cash flow for its continuing operations and business operations than it is generating in
those years. This can be a worrying sign, as it can indicate that the company is struggling
financially or that profitability has declined. It is important for a business to closely monitor
and manage its cash flows to ensure financial stability and sustainability.

●Investing activities:
A negative net cash flow from investments in 2022 (-283.81) indicates that the company
made significant investments, such as acquisitions or acquisitions of assets, that resulted in a
significant cash flow that year. This may indicate expansion or capital investment.
On the contrary, the positive net cash flow from investments in 2023 (82.55) indicates that
the company received more money from investment activities than it spent that year. This
may indicate that the company either sold assets, received income from investments, or had a
successful investment activity that generated cash flow.
In summary, the transition from negative investment cash flows in 2022 to positive cash
flows in 2023 indicates a change in the company's investment strategy or a change in the
outcome of investment decisions. It is important to analyze individual transactions in
investment activities to fully understand the nature of these changes and their impact on the
company's financial position and strategy.

●Financing activities:
The change in a company's financial position as a result of its finance-related activities is
represented by net cash flow from financing activities. In this instance the company generated
a net cash inflow of Rs. 392.72 lakhs through financing activities for the year 2022. This
signifies that the business successfully raised a substantial sum of money in 2022 by means
such as issuing debt, selling equity, or other financing techniques.

The company's financial activities generated a net cash inflow of Rs. 127.04 lakhs for the
year 2023. This shows that the business continued to raise money from financing in 2023,
albeit at a lesser rate than in 2022.

The net increase in cash and cash equivalents for the year 2022 was (1.87) lakhs, indicating
that the company experienced a decrease in its liquid assets during that year. However, in
2023, there was a net increase of 6.12 lakhs, which suggests that the company's cash position
improved, and it generated more cash than it used during that year.
This improvement in cash flow in 2023 could be attributed to factors such as increased
revenue, reduced expenses, successful investments, or better financial management. It's
generally a positive sign for a company to have a net increase in cash and cash equivalents, as
it indicates improved financial health and liquidity.

18
 DETAILED ANALYSIS OF OTHER REPORTS

Management Discussion and Analysis Report

Management discussion and analysis (MD&A) is a section of a public company’s annual report
or quarterly filing. The MD&A addresses the company’s performance with qualitative and
quantitative measures.
 The Company has expanded its segment apart from existing developing,
maintaining & operating of Airports to a Lighting & Electrical
Products Trading and Coal Trading.
 The Company has kept pace with the overall market scenario and
continues to grow significantly. The Management expects to improve
the growth in the years to come, subject to favourable market
conditions, and stable economic policies.
 With each passing year, their commitment to their clients’ success and
their will has only grown stronger. Their motivation comes from their
clients’ guidance and warm support that have always welcomed their
lofty goals and helped them execute and achieve through a well-crafted
plan.
 The organisation is constantly working on overcoming difficulties by
enhancing their capabilities and focusing on increased efficiency, which
will aid in profit development and consistency.

Board Director’s Report

Director’s report is a financial disclosure made by director to the shareholders of the

company. It is envisaged to disclose financial status of the company by disclosing
company’s affairs and scope of work along with its subsidiaries. It is basically financial
summary of the company for the whole financial year and future vision too.
 For the financial Year 2022-23, the Company recorded net sales of Rs. 2255.18
lakhs as against Rs. 1324.60 lakhs in the previous year and thereby recording
the increase in the net sales by 70.25% over previous year.
 Further for the Financial Year 2022-23, the company achieved Net Profit of
Rs.67.25 lakhs as compared to Rs. 50.34 lakhs in the previous financial year.
 Earnings per share have increased from Rs. 1.80 to Rs. 2.23 in the FY 2022-
23 recording a growth of 23.89%.

19
 Auditor’s Report
An auditor's report is a written letter from the auditor containing their opinion on
whether a company's financial statements comply with generally accepted
accounting principles (GAAP) and are free from material misstatement.
 The Company has, in all material respects, an adequate internal financial
controls system over financial reporting and such internal financial controls
over financial reporting were operating effectively as at March 31, 2023, based
on the internal control over financial reporting criteria established by
thCompany considering the essential components of internal control stated in
the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India.

20