Meinigar Technologies Private Limited

Estimated Balance Sheet as at 31 March 2024

Particulars As at 31-03-2024 As at 31-03-2023

EQUITY AND LIABILITIES
Shareholder's funds
Share capital 1,538,510 1,000,000
Reserves and surplus 17,718,096 5,638,541
19,256,606 6,638,541
Non-Current liabilities
Long Term Borrowings 11,817,843 16,491,224
Current liabilities
Short Term Borrowings 40,224,644 -
Trade Payables 39,002,515 25,852,925
Other current liabilities 8,632,000 6,466,421
Short-term provisions 8,761,990 4,103,003
96,621,149 36,422,349

TOTAL 127,695,598 59,552,114

ASSETS
Non- Current assets
Fixed Assets 1,879,018 1,181,470
Other non-current assets 8,239,000 2,390,000
Deferred tax assets (net) 137,580.00 137,580.00
Current assets
Cash and Bank Balances 1,010,000 997,951
Trade Receivable 100,000,000 40,310,123
Other Current Assets 16,430,000 14,534,990
117,440,000 55,843,064

TOTAL 127,695,598 59,552,114

 Meinigar Technologies Private Limited

Estimated Statement of Profit and loss for the year ended 31/03/2024
Particulars 31/03/2024 31/03/2023
Revenue
Revenue from operations 420,000,000 273,801,925
Other Income 130,125 96,183

Total revenue 420,130,125 273,898,108

Expenses
Employee benefit expenses 30,340,020 14,513,884
Finance Costs 7,582,353 2,492,830
Depreciation 535,960 491,766
Other expenses 368,842,052 249,160,856

Total expenses 407,300,385 266,659,336

Profit before exceptional, extraordinary and prior period

12,829,740 7,238,772
items and tax
Exceptional & Extraordinary items - -
Prior period item - -

Profit before tax 12,829,740 7,238,772

Tax expense
Current Tax 3,711,990 1,971,057
Deferred Tax - (152,293)
(398)

Profit(Loss) for the period 9,117,750 5,420,406

 Meinigar Technologies Private Limited
Notes to Accounts for the year ended 31/03/2024
Notes to Accounts

2 Share Capital

(a) As at 31 March 2024 As at 31 March 2023

Particulars
Number (Rs.) Number (Rs.)
Authorised Share Capital

Equity Shares of Rs 10 each 100,000 1,000,000 100,000 1,000,000

100,000 1,000,000 100,000 1,000,000

Issued, Subscribed & Fully Paid up

Equity Shares of Rs 10 each 153,851 1,538,510 100,000 1,000,000

153,851 1,538,510 100,000 1,000,000

Notes
Terms and rights attached to equity shares
The Company has only one class of Equity shares having a par value of Rs.10 per share. Each holder of Equity
share is entitied to one vote per share and is entitled to dividend, declared if any.
The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing
Annual General Meeting.
In the event of liquidation of the company, the holders of equity share will be entitled to receive 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 the shareholders.

(b) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period

As at 31 March 2024 As at 31 March 2023

Particulars
Number (Rs) Number (Rs)

Shares outstanding at the beginning of the 100,000 1,000,000 100,000 1,000,000

year
Issued during the year 53,851 538,510 - -
153,851 1,538,510 100,000 1,000,000
Shares outstanding at the end of the year

(c ) Disclosure of shares in the company held by each shareholder holding more than 5%
As at 31 March 2024 As at 31 March 2023
Name of Shareholder No. of Shares No. of Shares
% of Holding % of Holding
held held
Vinoth Raja Jaisanker 87,695 57.00% 57,000 57.00%
Abhiraj Tulsyan 9,231 6.00% 6,000 6.00%
Arjun Kapoor 56,925 37.00% 37,000 37.00%

Total 153,851 100.00% 100,000 100.00%

 Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Reserves & Surplus

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Surplus
Opening balance 5,638,541 218,135
(+) Net Profit/(Net Loss) For the current year 9,117,750 5,420,406
Closing Balance 14,756,291 5,638,541

Securities Premium 2,961,805

17,718,096 5,638,541

Long term Borrowings

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)
Unsecured
Loans from Bank/NBFC
Deutsche Bank Loan 1,743,946 2,449,293
ICICI Unsecured Loan 2,877,489 4,000,000
Kotak Mahindra Bank 1,721,988 2,426,522
ICICI Motor Vehicle Loan 683,195 865,409
Tata Capital Unsecured Loan 1,791,225 2,500,000

Loan from Directors 3,000,000 3,000,000

Inter Corporate Borrowings - 1,250,000

Total 11,817,843 16,491,224

Short term Borrowings

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)
Loan from NBFC/FI
Ardent Capital Private Limited 2,724,644 -
SBI GFL (Factoring) 7,500,000 -

Bank OD
Yes Bank 30,000,000 -

Total 40,224,644 -
 Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Other Current Liabilities

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Salary Payable 3,000,000 1,423,016

Audit fee payable 150,000 100,000
GST Payable 1,000,000 1,615,504
TDS Payable 3,200,000 2,089,949
Professional Tax Payable 60,000 25,090
PF/ESIC Payable 80,000 18,000
Imprest Account - 107,766
Security Deposit Taken 42,000 285,000
Credit Card Dues 500,000 129,379
Short Term Borrowings - 48,369
Interest on loans - Accured - 146,314
Advance from Clients 600,000 478,034

Total 8,632,000 6,466,421

Short Term Provisions

As at 31/03/2024 As at 31 March 2023
Particulars
(Rs.) (Rs.)

Provision for Income Tax 3,711,990 1,971,057

Provision for Expenses 5,000,000 2,131,946
Provision for Exchange Fluctuation Effect 50,000 -

Total 8,761,990 4,103,003

Trade Payables
As at 31/03/2024 As at 31 March 2023
Particulars
(Rs.) (Rs.)

Sundry Creditors 39,002,515 25,852,925

Total 39,002,515 25,852,925

 Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Other Non Current Assets

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Security Deposit Given 8,239,000 2,390,000

Total 8,239,000 2,390,000

Cash and Bank Balances

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Cash in Hand 10,000 2,935

Cash at Bank 1,000,000 995,016

Total 1,010,000 997,951

Trade Receivable

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Trade Receivables 100,000,000 40,310,123

Total 100,000,000 40,310,123

Other Current Assets

As at 31/03/2024 As at 31 March 2023

Particulars
(Rs.) (Rs.)

Income Tax Credits 5,000,000 4,858,762

Security Deposit Given 150,000 363,748
Pure Agent WIP - 541,048
GST Credits 1,542,993
Prepaid Wallet 80,000 74,805
Advance to Emp 200,000 122,546
Advance to Suppliers 500,000 454,548
Unbilled Revenue 10,000,000 6,340,676
Prepaid Expenses 300,000 61,461
TDS Recoverable 200,000 174,403
Total 16,430,000 14,534,990
 Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Revenue from operations

31/03/2024 31/03/2023
Particulars
(Rs.) (Rs.)

Sale of Services
Warehousing Operations 90,811,162 36,646,867
Transportation Operations 78,563,062 49,796,374
Custom Clearance Opeartions 86,400,819 74,233,259
Freight Forwarding Operations 164,224,957 112,994,142
Misc - 131,283
Total 420,000,000 273,801,925

Other Income
31/03/2024 31/03/2023
Particulars
(Rs.) (Rs.)

Interest on Income Tax Refund 130,125 87,305

Interest on FDR 8,878
Total 130,125 96,183

Employee Benefit Expenses

31/03/2024 31/03/2023
Particulars
(Rs.) (Rs.)

Salary Expense 30,340,020 14,513,884

Total 30,340,020 14,513,884

Finance Costs
31/03/2024 31/03/2023
Particulars
(Rs.) (Rs.)

Interest on Loans 3,522,369 2,326,887

Interest on Bank OD 1,078,844
Factoring Charges 360,000 -
Finance Charges 1,254,927 146,071
Exchange Gain or Loss 1,366,213 19,872

Total 7,582,353 2,492,830

 Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Other Expenses

31/03/2024 31/03/2023
Particulars
(Rs.) (Rs.)

Direct Expenses
Warehousing Operations 76,423,607 34,449,419
Transportation Operations 84,987,880 43,167,377
Custom Clearance Opeartions 77,536,161 61,540,155
Freight Forwarding Operations 109,119,540 97,044,398
Sundry 2,000,000 1,495,205

Professional Expenses 4,200,000 2,101,322

Office Rent 3,997,500 1,702,500
Guest House Expenses 650,000
Website and Technology expenses 900,000 847,176
Travelling Expenses 1,325,000 1,329,228
Interest & Late Fee- Late Filing Returns 750,000 438,485
Consultancy Fee 791,000 69,000
Electricity Expense 1,149,468 538,241
Fines & Penalities 3,502
Insurance Expense 18,799 14,698
Internet Expenses 105,086
Legal Expenses 338,209 446,642
Marketing Exp 1,328,277
Membership Fee 784,859 347,210
Office Expenses 553,782
Professional Tax 25,788
ROC Fee 224,025
Discounts 28,000
Other Expenses 1,300,677 3,488,521
Festival Exp 150,892
Audit Fee 150,000 113,000
Provision for Doubtful Debts - (11,925)
Fee and Taxes - 40,204

Total 368,842,052 249,160,856

 Meinigar Technologies Private Limited
PAN : AAMCM6948C

Statement of Taxable Income

Financial Year 2023-24
Assessment Year 2024-25

Amount in Rs

Profit/ (Loss) as per Companies Act 12,829,740

Add: Depreciation per accounts 535,960

Add: Disallowed Expenses u/s 37 753,502
Add: 30 % of Provision for Expenses 1,500,000

Profit/(Loss) before Dep (as per IT) 15,619,202

Less: Depreciation as per Income Tax -408,432

Less: Provision of expenses disallowed last year -461,923

Total Profit (Loss) as per IT 14,748,846.88

Tax 3,711,990

TDS 5,000,000

Net Tax Liability (Refund) -1,288,010

Meinigar Technologies Private Limited

Assesst Year 2024-25

Fixed Assets
Amount in Rs.
Total Value of
Depreciation Opening Sold During Depreciation
S.No. Particulars Purchased During the year Assets at the end Closing WDV
Rate WDV the year for the year
of year
> 180 Days <= 180 Days

1 Equipments 15.00% 197,687 179,171 278,300 655,158 77,401 577,757

2 Furniture 10.00% 83,136 50,974 320,792 454,902 29,451 425,451
3 Computer 40.00% 157,789 79,341 324,929 562,059 159,838 402,221
4 R&D 25.00% 63,765 63,765 15,941 47,824
5 Motor Vehicle 15.00% 838,671 838,671 125,801 712,870

Total 1,341,048 309,486 924,021 - 2,574,555 408,432 2,166,123

Meinigar Technologies Private Limited

Notes to Accounts for the year ended 31/03/2024

Fixed Assets Amount in Rs.

Assets Gross Block Accumulated Depreciation/ Amortisation Net Block

Balance as at Addition on Balance as at Balance as at Deletion / Balance as at Balance as at Balance as at

Deletion
Useful Life Additions account of Provided during adjustments
during the
(In Years) during the year business the year during the 31st March
1st April 2023 year 31st March 2024 1st April 2023 31st March 2024 31st March 2024
acquisition year 2023

A Tangible assets
Own Assets
Other Equipments 10 2,43,276.00 4,57,471.11 - - 7,00,747.11 61,051.66 90,169.00 - 1,51,220.66 5,49,526.45 1,82,224.34
Furniture 10 97,925.00 3,71,766.36 - - 4,69,691.36 28,108.54 54,640.00 - 82,748.54 3,86,942.82 69,816.46
Computer and Peripherals 3 3,27,210.00 4,04,270.45 - - 7,31,480.45 2,01,555.18 1,45,103.00 - 3,46,658.18 3,84,822.27 1,25,654.82
Motor Vehicle 8 10,66,672.00 - - - 10,66,672.00 3,46,867.00 2,24,795.00 - 5,71,662.00 4,95,010.00 7,19,805.00
Total (A) 17,35,083.00 12,33,507.92 - - 29,68,590.92 6,37,582.38 5,14,707.00 - 11,52,289.38 18,16,301.54 10,97,500.62
P.Y Total 14,30,596.00 3,04,487.00 - - 17,35,083.00 1,74,271.38 4,63,311.00 - 6,37,582.38 10,97,500.62 12,56,324.62
B Intangible assets
Research and Development 10 2,51,911.00 - - - 2,51,911.00 1,67,941.00 21,253.00 - 1,89,194.00 62,717.00 83,970.00
Total (B) 2,51,911.00 - - - 2,51,911.00 1,67,941.00 21,253.00 - 1,89,194.00 62,717.00 83,970.00
P.Y Total 2,51,911.00 - - - 2,51,911.00 1,39,486.00 28,455.00 - 1,67,941.00 83,970.00 1,12,425.00
Current Year Total (A + B) 19,86,994.00 12,33,507.92 - - 32,20,501.92 8,05,523.38 5,35,960.00 - 13,41,483.38 18,79,018.54 11,81,470.62
Previous Year Total 16,82,507.00 3,04,487.00 - - 19,86,994.00 3,13,757.38 4,91,766.00 - 8,05,523.38 11,81,470.62 13,68,749.62