l) Provisions, Contingent Liability and Contingent Assets: A provision is recognized if, as a result of past events, the
Company has a present legal or constructive obligation that can be reasonably estimated, and is probable that an
outflow of economic benefits will be required to settle the obligation.
If the effect of time value of money is significant, provisions are discounted using equivalent period government
securities interest rates. Unwinding of discount is recognized as finance cost in the Statement of Profit and Loss.
Provisions are reviewed at each Balance Sheet date and are adjusted to reflect current best estimate.
Contingent liability is a possible obligation arising from past events and the existence of which will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Group or a present obligation that arises from past events but is not recognized because it is possible that an outflow
of resources embodying economic benefit will not be required to settle the obligations or reliable estimate of the
amount of the obligations cannot be made. The Company discloses the existence of contingent liabilities in Other
Notes to Financial Statements.
Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an
inflow of economic benefits. Contingent Assets are not recognized though are disclosed, where an inflow of economic
benefits is probable.
m) Taxes: Tax expense for the year, comprising current tax and deferred tax, are included in the determination of the net
profit or loss for the year.
Current Income Tax
Current tax assets and liabilities are measured at the amount expected to be recovered or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively
enacted, at the year end date. Current tax assets and tax liabilities are offset where the entity has a legally enforceable
right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously
Deferred Tax
Deferred income tax is provided in full, using the balance sheet approach, on temporary differences arising between
the tax bases of assets and liabilities and their carrying amounts in Financial Statements. Deferred income tax is
also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business
combination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred
income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of
the year and are expected to apply when the related deferred income tax asset is realized or the deferred income tax
liability is settled.
Deferred tax assets are recognized for all deductible temporary differences and unused tax losses only if it is probable
that future taxable amounts will be available to utilize those temporary differences and losses.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax
regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected
to be paid to the tax authorities
Current and deferred tax is recognized in Statement of Profit and Loss, except to the extent that it relates to items
recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other
comprehensive income or directly in equity, respectively.
n) Cash and Cash Equivalents: Cash and cash equivalent in the balance sheet comprise cash at banks, cash on hand
and short-term deposits net of bank overdraft with an original maturity of three months or less, which are subject to
an insignificant risk of changes in value.
For the purposes of the cash flow statement, cash and cash equivalents include cash on hand, cash in banks and
short-term deposits net of bank overdraft, other short term highly liquid investments with original maturities of three
months or less than three months that are readily convertible to known accounts of cash and which are subject to an
insignificant risk of changes in value.
Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and items of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.
o) Revenue Recognition:
Advertising and Media - Out of Home (OOH): Revenue from providing service is recognized in the accounting period
on the date of commencement of the advertisement or over the period of the contract on pro rata basis, as applicable.
Media income (net) includes agency commission earned on services rendered.
Value of work done which is not billed is measured by correlating expenses incurred during the same period, inclusive
of profits are recognized as per the terms of contract.
Others
• Revenue is measured at the fair value of the consideration received or receivable, determined by agreement
between the Group and the client (after including fair value allocations related to arrangements involving more
than one performance obligation), net of returns, taxes or duties collected on behalf of the government and
applicable trade discounts or rebates.
• Dividend income is recognized when the right to receive dividend is established.
• Interest income is recognized using the time proportion method, based on the underlying interest rates.
• Any expected loss is recognized as an expense immediately.
p) Earnings Per Equity Share: Basic earnings per share is calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.
The weighted average number of equity shares during the period is adjusted for events including bonus issue, bonus
element in right issue to existing shareholders, share split, and reverse share split (consolidation of shares).
For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity
shareholders and the weighted average number of equity shares outstanding during the period are adjusted for the
effect of all dilutive potential equity shares.
q) Employees Benefits
Liabilities in respect of employees benefits to employees are provided for as follows:
Short-term employee benefits
Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12
months after the end of the period in which the employees rendered the related service is recognized in respect of
employees services up to the end of the reporting period and are measured at the amounts expected to be incurred
when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.
Post Retirement and other employee benefits:
(i) Provident Fund
Provident fund is a defined contribution plan covering eligible employees. The Company and the eligible
employees make a monthly contribution to the provident fund maintained by the Regional Provident Fund
Commissioner equal to the specified percentage of the basic salary of the eligible employees as per the scheme.
The contributions to the provident fund are charged to the statement of profit and loss for the year when the
contributions are due. The Company has no obligation, other than the contribution payable to the provident fund.
(ii) Gratuity
The Company has a defined benefit gratuity plan (funded). The Company's defined benefit gratuity plan is a final
salary plan for the employees, which requires contributions to be made to a separately administered fund. The
gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five
years of service is entitled to specific benefit. The level of benefits provided depends on the member's length
of service and salary at retirement age. Every employee who has completed at least 5 years of service gets a
gratuity on departure @ 15 days (minimum) of the last drawn salary for each year of service.
Re-measurements arising from defined benefit plans comprise actuarial gains and losses on benefit obligations,
the return on plan assets in excess of what has been estimated and the effect of asset ceiling, if any, in case of over
funded plans. The company recognizes these items of re-measurements immediately in other comprehensive
income and all the other expenses related to defined benefit plans in employee benefit expenses in profit and loss
account.
r) Fair value measurement: The Company measures financial instruments at fair value at each balance sheet date. Fair
value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either:
• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or
a liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest. A fair value measurement of a non-financial
asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest
and best use or by selling it to another market participant that would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:
• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities
• Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or indirectly observable
• Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
3.1 Significant Accounting Judgments, Estimates and Assumptions: The preparation of Standalone Financial Statements
requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities.
Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to
the carrying amount of assets or liabilities affected in future years.
Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the
next financial year, are described below. The Company based its assumptions and estimates on parameters available
when the financial statements were prepared. Existing circumstances and assumptions about future developments,
however, may change due to market changes or circumstances arising that are beyond the control of the Company.
Such changes are reflected in the assumptions when they occur.
Other disclosures relating to the Company's exposure to risks and uncertainties includes:
• Capital management
• Financial risk management objectives and policies
Defined benefit plans (gratuity benefits)
The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using
actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases and mortality
rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
The parameter most subject to change is the discount rate. In determining the appropriate discount rate for plans
operated in India, the management considers the interest rates of government bonds in currencies consistent with
the currencies of the post-employment benefit obligation.
The mortality rate is based on publicly available mortality tables. Those mortality tables tend to change only at
interval in response to demographic changes. Future salary increases and gratuity increases are based on expected
future inflation rates.
Fair value measurement of financial instruments
When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using valuation techniques including the DCF
model. The inputs to these models are taken from observable markets where possible, but where this is not feasible,
a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as
liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value
of financial instruments.
Recoverability of Trade Receivables
Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a
provision against those receivables is required. Factors considered include the credit rating of the counterparty, the
amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of
non-payment.
Impairment of financial assets
The impairment provisions for financial assets depending on their classification are based on assumptions about
risk of default, expected cash loss rates, discounting rates applied to these forecasted future cash flows, recent
transactions. The Company uses judgement in making these assumptions and selecting the inputs to the impairment
calculation, based on Company's past history, existing market conditions as well as forward looking estimates at the
end of each reporting period
3.2 Changes in accounting policies and new and amended standards:
New and amended standards
The Company applied for the first- time certain standards and amendments, which are effective for annual periods
beginning on or after April 01,2024. The Company has not early adopted any other standard or amendment that has
been issued but is not yet effective.
On March 31, 2025, MCA did not issue any accounting standards that were effective on April 01,2024.
Notes:
(i) Securities premium:
Securities premium is used to record the premium on issue of shares. It can be utilised only for limited purposes in
accordance with the provisions of the Companies Act, 2013.
(ii) General Reserve:
The reserve arises on transfer portion of the net profit pursuant to the earlier provisions of Companies Act, 1956.
Mandatory transfer to general reserve is not required under the Companies Act, 2013.
(iii) Capital Reserve:
This Reserve comprise of balance transfred from transferor Company and represents the Reduction in Equity Capital
as per the Scheme.
(iv) Retained earnings:
Retained earnings represents the surplus in profit and loss account and appropriations.
(v) Other Comprehensive Income:
Other Comprehensive Income is created in compliance with Ind AS notified under the Companies (Indian Accounting
Standard) Rules, 2015, as amended.
NOTE 30: FAIR VALUE MEASUREMENTS
The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged
in a current transaction between willing parties, other than in a forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values:
1. The Company has not disclosed the fair values of financial instruments such as cash and cash equivalents, other bank
balances, trade receivables, other financial assets, trade payables, other financial liabilities and borrowings because
their carrying amounts are a reasonable approximation of fair value. Further, for financial assets, the Company has
taken into consideration the allowances for expected credit losses and adjusted the carrying values where applicable.
2. For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.
A. Fair Value Hierarchy
Level 1- Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2- Other techniques for which all inputs which have a significant effect on the recorded fair value are observable,
either directly or indirectly.
Level 3- Techniques which use inputs that have a significant effect on the recorded fair value that are not based on
observable market data.
The Company's financial assets includes investments, trade receivables and cash and cash equivalents that comes
directly from its operations and financial liabilities comprises of borrowings, trade and other payables. It has an integrated
financial risk management system which proactively identifies monitors and takes precautionary and mitigation measures
in respect of the various risks.
The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the
management of these risks, which evaluates and exercises independent control over the entire process of financial risks.
All the derivative activities for risk management purposes are managed by experienced teams.
Market Risk
Market Risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The
most common types of market risks include interest rate risk and equity price risk. Market risk is attributable to all market
risk sensitive financial instruments including investments, deposits loans and borrowings.
The finance department undertakes management of cash resources, borrowing mechanism and ensuring compliance
with market risk limits.
Interest Rate Risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of
changes in market interest rates.
The Company's investments in Bank deposits are with fixed rate of interest with fixed maturity and hence not significantly
exposed to Interest rate sensitivity.
Credit risk
Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss. The credit risk arises from cash and cash equivalents, current and non-current loans, trade
receivables and other financial assets carried at amortised cost. The Company does not hold any collateral or other credit
enhancements to cover its credit risks associated with its financial assets.
The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based
on Simplified approach.
Cash and cash equivalents
Balances with banks are subject to low credit risks due to good credit ratings assigned to the banks.
Trade and other receivables
The ageing analysis of the receivables (gross of provisions) has been considered from the date the invoice falls due:
Liquidity risk
Liquidity risk is the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable
price. The Company's overall risk management programme focuses on the unpredictability of financial markets and seeks
to minimise potential adverse effects on the Company's financial performance. Risk management is carried out by the
treasury department under policies approved by the board of directors. The treasury team identifies, evaluates and hedges
financial risks in close co-operation with the Company's operating units. The board provides principles for overall risk
management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, and credit risk
and investment of excess liquidity.
For the purpose of Company's capital management, capital includes issued share capital, share premium and all other
equity reserves. The primary objective of capital management is to maximise shareholder value. The Company manages
its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the
financial covenants.
The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company
includes within net debt, interest bearing loans and borrowings, less cash and cash equivalents.
NOTE 39: OTHER STATUTORY INFORMATION
(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property
(ii) The Company does not have any transactions with companies struck off.
(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:
a) 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
b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(vi) The Company have 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:
a) 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
b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(vii) The Company does not have any 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).
(viii) The Company has not been declared as Wilful defaulter by any Banks, Financial institution or Other lenders.
NOTE 40:
The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendment Rules, 2021) which is
effective from April 01, 2024, states that every company which uses accounting software for maintaining its book of account
shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and
further creating an edit log of each change made to books of account along with the date when such changes were made and
ensuring that the audit trail cannot be disabled.
The Company uses Tally ERP as a primary accounting software for maintaining books of accounts, which has a feature of
maintaing audit trail edit logs facility and that has been operative throughout the financial year for the transactions recorded.
NOTE 41:
Note 41: Previous year's figures have been regrouped where necessary to conform with the current year's classification. The
impact of such regrouping is not material to the financial statements.
NOTE 42:
The financial statements were approved for issue by the Board of Directors on May 30, 2025.
As per our report of even date attached For and on behalf of the Board of Directors
For Sarda Soni Associates LLP
Chartered Accountants Shripad Ashtekar Rajesh Awasthi
ICAI Firm Reg. No. 117235W/W100126 Managing Director Director
Priyanka Lahoti (DIN: 01932057) (DIN: 07815683)
Partner
Membership No.: 412687
Dt M 30 2025 Nalin Kumar Somani Jitesh Rajput
WaiL : Mumbai2025 Chief Financial Officer Company Secretary
UDIN : 25412687BMKOSO2482
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