CALDJAD& CO.

(Chartered Accountants)

INDEPENDENT AUDITOR'S REPORT

To the Members of Technocrat Plasma

Systems Private Limited
Report on the Audit of the Financial Statements

Qualified Opinion
We have audited the financial statements of Technocrat Plasma Systems Private Limited

("the Company"), which comprise the balance sheet as at 31st March 2020, and the
statement of profit and loss, and the statement of Cash Flows, and notes to the financial

statements, including a summary of significant accounting policies and other explanatory

intormation.

In our opinion and to the best of our information and according to the explanations given to

us, except for the possible efjects of the matters deseribed in the Basis for Qnalifed Opinion paragraph (i) to
(ir) below, the aforesaid financial statements give the information required by the Act in the
manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India of the State of affairs of the company as at March 31,
2020 and its Loss and its Cash Flows for the year then ended on that date.

Basis for Qualified Opinion

Attention is inited to Note 27 of financial statements rgarding balames of Trade Receivables, Trade
Payables, Advances from Trade Receivables, Adrances to Trade Payables, Loans e Adrances given
and Loans e Adranes taken are subject lo confirmation from the respective parties. Some of the trade
receivable, trade payables are outstanding for significant period of time. The financial statements do not
inclhude the impact of adjustments if any, which may arise ont of the confirmation and reonikiation
process and in absence of such conjirmation and reconcilhation we are unable to comment upon the
resultant effect on the assets, liabilhties, Reserves and loss for the year.

ii. Attention is invited that

Company have not maintained proper records and reconcilhation of the Inventory
hke raw material and semi-inished Goods. In absene
of such information the vahuation quantitative
delails of Raw materials and semi-finished goods beld by the Company as on 31st Marh, 2020 has
been taken on the basis of the rpresentation given by the lManagement and in absence of such
conjirmation and rconcihalion we ae ualattr upon the resulant effect on the assets, Reseres
and loss for the year.

PARTNERR
Regd. Off Office No. 24, Dheeraj Regency CHS Ltd., Behind Carnival
Borivali (E), Mumbai - 400 066.
Cinema, Off. W.E. Highway,

Contacr 894223 Email:djadandco17@gmail.com

. We dran your attention to Note No. 34 of the finanial statements regarding the financial Stalements
haring been prnpared on going concern basis. 1he Company has inaured los in the curent year as vell

as in the immediateh pmding 3 years and its met nworth is competely ervded as on 31" Marh 2020.

These erents or onditions may impact the ompany'sgoing conem assumption.

iv. We dran your attention to Note No. 29 of financial statemenls regarding non vatuation of emplayee

Stamdard (AS)-15 (Rerised)-LEmplyee Benefits. Hence we are

benefits as
nguirnd y Aavunting
unable to comment upon the resaltant effect on the assels, habilities and Loss for the year as the amoun

of such benefit is presenthy not ascertainable.

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
scction 143(10) of the Companics Act, 2013. Our rcsponsibilitics undcr thosc Standards arc
further described in the Auditor's Responsibikities for the Audit of the Financial Statements
section of our repot. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India together with the ethical
statements under the provisions of the
requirements that are relevant to our audit of the financial
have fulfGlled our other ethical
Companies Act, 2013 and the Rules thereunder, and we
of Ethics. We believe that
responsibilities in accordance with these requirements and the Code
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

opinion.
Information Other than the Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The other

Report but does include the

information comprises the infommation included in the Board's
not

financial statements and our auditor's report thereon.

the other intormation and we do not

Our opnion on the financal statements does not cover

conclusion thereon.
express any form ot assurance

In connection with our responsibility is to read the other

audit of the financial statements, our
is materially inconsistent
information and, in doing so, consider whether the other information
with the financial statements or our knowledge obtaned during
the course of our audit or
work we have perfomed, we
otherwise appears to be materially misstated. If, based on the
we are required to
conclude that there is a material misstatement of this other information;

report that fact. We have nothing to report in this regard.

For DJAD & Co.

PARTNER
Responsibilitics of Managemcnt and Thosc
Statements Chargcd with Governance for the Financial

The Company's Board of Directors is

Companics Act, 2013 ('the Act") withresponsible
for the matters stated in
section 134(5) of the
that give true and fair
a
respect to the preparation of these financial
view of the financial statements
accordance with the position, financial performance of the
accounting Company in
Standards specified under sectionprinciples generally accepted in India, including the
133 of the Act. This accounting
of
adequate accounting records in accordance with the responsibility also includes maintenance
the assets of the provisions of the Act for safeguarding of
Company and for preventing and detecting frauds and
selection and other irregularities;
that
application of
appropriate accounting policies; making judgments and estimates
are reasonable and prudent; and
intemal financial controls, that design, implementation and maintcnance of adequate
completeness of the accounting records,operating
were
effectively for cnsuring the accuracy and
relevant to the
financial statements that
give true and fair view and
a
preparation and presentation of the
whether due are free from material
to fraud or error. misstatement,
In
prepaing the financial statements, the Board of Directors is
Company's ability to continue as a going concern, responsible for assessing the
going concerm and using the going concem basis ofdisclosing, applicable, matters related to
as

either intends to accounting unless the Board of Directors

liquidate the Company or to cease operations, or has no
to do so. realistic alternative but

Thus, Board of Directors also

are
responsible for overseeing the Company's financial
process. reporting
Auditor's
Responsibilities for the Audit of the Financial Statements
1. Our objectives are toobtain reasonable assurance about whether
the financial statements
as a whole are free from material
issue an auditor's
misstatement, whether due to fraud or error, and to
report that includes our opinion. Reasonable assurance is a
of assurance, but is not a high level
guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements
can arise from fraud
or error and are
considered material if,
individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis
of these financial statements.

For DJAD & Co.

PARTNER
 As part of an audit in accordance with SAs, we exercise professional judgment and

mantain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatcment of thc financial statements,
whether duc to fraud or crror, design and perform audit procedures responsive to
those isks, and obtain audit evidence that is sufficicnt and appropriate to provide a

basis for our opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of
intemal control.

Obtain an understanding of internal control relevant to the audit in order to design

audit procedures that are appropriate in the circumstances. As per notification no
G.S.R 583 (E), dated 13th June 2017 issued by ministry of corporate affairs the clause
of section 143(3) of the Act regarding the intemal financial control is not applicable
to the company.

Evaluate the appropriateness of accounting pohcies used and the reasonableness of

accounting estimates and related disclosures made by managenment.

Conclude on the appropriateness of management's use of the going concerm basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the
Company's ability to continue as a going concern. If we conclude that a mateial
uncertainty exists, we are required to draw attention in our auditor's report to the
related disclosures in the financial statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. However, future events or conditions may cause the
Company to cease to continue as a going concem.

Evaluate the overal presentation, structure and content of the financial statements,
including the disclosures, and whether the financial statements represent the
underly1ng transactions and events in a manner that achieves fair presentation.

. We communicate with those charged with govermance regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit.

4. We also provide those charged with governance with a statement that we have complied
with relevant ethical requirements regarding independence, and to communicate with
them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.

For DJAD 8& Co.

PARTNER
Report on Other legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order, 2016 ("the Order") issued by the
Central Government of lndin in terms of sub-section (11) of section 143 of the Act, we give in
the "Annexure A" statement on the matters specificd in the paragraphs 3 and 4 of the said
Order.

As required by section 143(3) of the Act, we report that:

(a) Except as mentioned in basis for qualified opinion paragraph, we have sought and obtained al
the infomation and explanations which to the best of our knowledge and belief were
necessary tor the pupose of our audit;

(6) Exaept as mentioned in hasis for qualified opinion paragraph, in our opinion, proper books of
account as required by law have been kept by the Company so far as it appears from
our examination of those books;

c) The Balance Sheet, the Statement of Profit & Loss and cash flow statement, dealt with
by
this report are in with the books of account;
agreement

(d Except for the efjects the posible of the matter described in the Basis for
Qnalified Opinion
paragraph abore, in our opinion, the aforesaid the Financial Statement
comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014

(e) On the basis of written

representations
received from the directors as on 31"
March,
2020 taken record
on
by the Board of Directors, none of the directors is
on
31 March 2020, from being appointed as a director in terms of disqualified as
section 164 of the (2)
Act and

This rcport docs not includc our thc adequacy of

rcport on
over financial
intcnal financial controls
reporting of the Company and the operating effectiveness such
the controls as
requirement for such report is not applicable to the
in terms of Company for the above periods
general exemptions granted by the Ministry of
Notification No. G.S.R. Corporate Affairs vide
463(E), 464(E), 466") dated 13th June, 2017 and hence
not
required to report
on internal financial control;

For DJAD& Co.

PARTNER
 be included in the Auditor's Report in
gWith respect to the other matters to
in our
accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014,
opinion and to the best of our information and according to the explanations given to us

The Company has discloscd thc impact of pcnding litigations on its financial
1.

position in its financial statements - Refer Note 28 to the financial statements

i. The Company did not have any long term contracts including derivative contracts

for which there were any material foresecable losses.

11. There were no amounts which were required to be transferred to the Investor

Education and Protection Fund by the Company.

(h) In Our opinion and according to the infomation and explanations given to us, being a
of section 197 of Companies Act, 2013 read with
pivate Limited Company, provisions
Schedule V of the Act are not applicable to the Company.

FOR DJAD & CO.

Chartered Accountants
Fim's Registration No.: 150689W

Abhishek Dubey
For DJAD & Co.
Partner
Membership No.: 174389
UDIN: 2I74389AAAABV403
Place: Mumbai
Date: 08th December, 2020
 "Annexure A" to Auditors Report
The Annexure referred to in
Paragraph 1 of Report on other Legal and Regulatory Requirements
of the Auditors
Report for the year ended 31st March, 2020.

As required by the Companies (Auditors Report) Orde, 2016 and according to the information
and explanations given to us during the course of the audit and on the basis of such checks of
the books and records as were considered
appropriate
we that: report
a) The Company has maintained proper records showing full particulars including
quantitative details and situation of fixed assets.

b) All the assets have bcen physically verified by the management in accordance with a
phased programme of verification, which in our opinion is reasonable, considering
the size and the nature of business. The frequency of verification is reasonable no
discrepancies noticed on physical verification of fixed assets.

) According to the information and explanations given to us and on the basis of

examination of the records of the Company, title deeds of immovable
properties
other than self-constructed immovable properties (Buildings) are held in the name of
the Company.

) a) According to the information and explanations given to us, physical verification of

inventories is done by the Company. However, we have not been provided proof of
such physical verification conducted
by the Company. Hence, discrepancies if any
between physical verification and books records cannot be quantified and effect of
the same on Financial Statements cannot be ascertained.

b) In view of our comment in paragraph (ü) (a) above clause (i) (6) of the said order is
not applicable.

cThe Company has not maintained proper records of its inventories and hence
discrepancies if any noticed on physical verification as compared to books records
cannot be commented upon.

) a The company has not granted unsecured loans to the

parties covered in the register
maintained under section 189 of the Companies Act, 2013.

b) In view of our comments in para ii (a) above clauses () (6), of the said Order is not
applicable.

c)In view of our comments in para i (a) above clauses () (C), of the said Order is not
applicable.

v In our
opinion and according to the information and
explanation given to us, section 185
and 186 of the Act is not
applicable, since the Company has not granted any loan, not
provided any guarantees or
security and not made any investment
during the year.
Accordingly, clause 3 (v) of the Order is not
applicable.
For DJAD &Co.

PARTNER
() In our opinion and according to the information and explanations given to us, the
Company has complicd with thc provisions of sections 73 and 76 of the Companies Act,
2013 and the Companics (Acceptance of Deposits) Rules, 2014 with regard to the
deposits accepted from the public and from the members. No order has been passed by
The Company Law Board or the National Law 'Tribunal or by any court or by any other
Tribunal with regard to such deposits.

(i) In our opinion and as per the information given to us by the management, the (Central
Govemment has not prescribed for maintenance of Cost Records under section 148 (1)
of the Conmpanies Act, 2013 for the products ofthe Company.

(vit) a) Accordingly to the information and cxplanation given to us and on the basis of our
examination of the records of the Company amounts deducted/accrued in the books
of accounts in respect of undisputed statutory dues including Provident Fund,
Employces State Insurance, Central Sales 'Tax, Service tax, Maharashtra value added
Tax, ccss, Goods and Scrvicc Tax (GST) and othcr matcrial statutory ducs have not
been regularly deposited during the year by the Company with the appropriate
authorities. There are serious delays in case of depositing Maharashtra Value Added
Tax, Central Sales Tax, Profession Tax, Service Tax, Goods and Service 'Tax (GST),
Local Body Tax (LBT) and Provident Fund.

b) According to the information and explanation given to us, the undisputed amounts
payable in respect of Provident Fund, Income Tax, Sales Tax, Service tax, Value
Added Tax, cess and other material statutory dues were in arrears as at 31* March
2020 for a period of more than six months from the date they became payable is as
follows:-

Sr.N Amount
Particulars Financial Year Remarks
0. (Rs.)
1. CST 2014-15 8,87,707 Not Paid
2. CST 2015-16 7,77,753 Not Paid
3. CST 2016-17 10,64,587 Not Paid
LBT 2013-14 18,125 Not Paid

Provident 2016-17,2017-18,
5. 2018-19 & 2019- 6,84,360 Not Paid
Fund
20
2015-16, 2016-17,
6. PT 2017-18, 2018-19 3,77,575 Not Paid
& 2019-20
MVAT 2014-15 14,89,469 Not Paid
8. M VAT 2015-16 2,10,025 Not Paid
9. M VAT 2016-17 3,34,487 Not Paid
10. Sales Tax 2016-17 67,681 Not Paid
2018-19 & 2019-
11. ESIC 33,102 Not Paid
20
c)According to the information and explanations given to us, the following ducs on

For DJAD & Co

PARTNER
 account of Incomc Tax, Sales Tax, and Valuc Addcd Tax havc not bcen deposited by
the Company on account of disputes:

Period to
Name of Amount Forum where
Nature of which
the Amount Paid dispute is
Dues Amount
Statute under pending
Relates
Protest
Maharasht MVAT Deputy
ra Value (Including Commissioner
6,88,380 3,57,531 2008-09
added Tax Interest& of Sales Tax
Act Penalty) Appeal-V
Maharasht MVAT Deputy
ra Value (lncluding Commissioner
36,63,623 2009-10
added Tax Interest & of Sales Tax
Act Penalty Appeal-V
CST Deputy
Including Commissioner
CST Act 8,20307 2009-10
Interest& of Sales Tax
Penalty) Appeal-V
Maharasht MVAT Deputy
ra Value
added Tax (Including1,17,11,073
Interest &
2,00,000 2010-11
Commissioner
of Sales Tax
Act Penalty) Appeal-V
CST Deputy
Including 1,01,00,069 Commiss1oner
CST Act 1,00,000 2010-11
Interest & of Sales Tax
Penalty) Appeal-V
Maharasht MVAT Deputy
ra Value (Including Commissioner
17,30,258 2011-12
added Tax Interest & of Sales Tax
Act Penalty) Appeal-V
CST Deputy
CST Act (Including 77,94,284 2011-12
Commissioner
Interest & of Sales Tax
Penalty) Appeal-V
Income
Income
Tax Act
Tax 14,84,450 1,50,000 AY 2009-10o CIT (Appeals)
1961
(Vi)
As per information and explanations given to us, the Company has not defaulted in
repayment of loans or borrowings to any Financial Institution, Bank, Govemment or
dues to Debenture Holders as at the balance sheet date.

For DJAD & Co.

PARTNER
(x) As per the information and explanations given to us, the Company has used the term loan
for the purpose for which
they were obtained.
On the basis of our examination and according to the information and explanation given
to us, no material fraud, on or by the Company, has been noticed or reported during the

ycar.

xi) Since it is a Private Limited Company, the provision of Section 197 read with Schedule V
of the Companies Act is not applicable.

an) In our opinion, the Company is not a Nidhi Company. Accordingly, provisions of clause
3 (xi) of the Order is not applicable.
xa According to the infomation and explanation given to us and based on our examination
of the records of the Company, transactions with related partics are in compliance with
section 188 of the Act, where applicable. The details of such related party transactions
have been disclosed in the financial statements as required under Accounting Standard
(AS) 18, Related Party Disclosures specified under section 133 of the Companies Act,
2013 read with Rule 7 of the Companices (Accounts) Ruies, 2014. Section 177 of the
Companies Act 2013 is not Applicable to the Company.

xiv During the year, the Company has not made any preferential allotment or private
placement of shares or fully or partly convertible debentures.

According to the information and explanation given to us and based on our examination
of the records of the Company, the Company has not entered into any non-cash
transactions with the directors or persons connccted with him. Accordingly, clause 3 (xv)
of the Order is not applicable.

xv) In our opinion and according to the information and explanation given to us, the
Company 1s not required to be registered under section 45-IA of the Reserve Bank of
India Act, 1934.

FOR DJAD & CO.

Chartered Accountants
Fim's Registration No.: 150689W

For DJAD & Co.

Abhishek Dubey 12
Partner PARTNER
Membership No.: 174389
UDIN: 2l174389AAAABV4o3S
Place: Mumbai
Date: 08th December, 2020
 Technocrat Plasma Systems Private Limited

Balance Sheet As At March 31, 2020

(Amount in Rs.)
As at As at
Note
Particulars Nos. March 31, 2020 March 31, 2019

EQUITY AND LIABILITIES

Shareholder's Funds
98,77,000 98,77,000
Share Capital
Reserves and Surplus 3 (2,47,68,311) (1,73,73,758
(1,48,91,311) (74,96,758)
Non-Current Liabilities
3,81,51,732 3,88,78,130
Long-Term Borrowings
Deferred Tax Liabilities (Net)
Long-Term Provisions 9,88,507 8,53,041
3,91,40,239 3,97,31,171
Current Liabilities
2,60,33,221 2,65,37,800
Short-Term Borrowings
8 2,91,89,511 5,62,70,992
Trade Payables
9 3,17,57,268 3,95,54,960
Other Current Liabilities
Short-Term Provisions 10 27,842
8,69,80,000 12,23,91,594
Total 11,12,28,928 15,46,26,007
ASSETS
Non-Current Assets
Fixed Assets
Tang1ble assets 1,91,73,847 2,03,62,929
Intangible assets 7,438 7,438
1,91,81,285 2,03,70,367

Non-Current Investments 12 45,000 45,000

Long-Term Loans and Advances I3 25,34,136 26,56,619
2,17,60,421 2,30,71,986
Current Assets
Inventoies 14 4,40,12,678 5,47,59,215
Trade Receivables 15 3,95,74,941 7,13,49,052
Cash and Bank Balances 16 22,64,217 35,67,969
Short-Ternm Loans and Advances 17 36,16,672 18,77,785
8,94,68,507 13,15,54,021
Total 11,12,28,928 15,46,26,007
Summary of Significant Accounting Policies
2 to 34
See accompanyingnotes to thefinancialstatements
In terms of our report of even date

FOR DJAD & CO. For and on behalf of the Board of Directors of
Chartered Accountants Technocrat Plasma Systems Private Limited
FRN NO.150689W
For DJAD &Co.
LASA

SYSTE
Abhishek Dubey
Partner
PARTNER
Membership No. 174389 Afun Komar Vandana Sharma
VASAI
UDIN: 21U7L339AAhABVLO35 (Director) Director)
DIN (00146452) DIN (00146519)

Place: Mumbai Place: Mumbai

Date: 08th December, 2020 Date: 08th December, 2020
 Private Limited
Technocrat Plasma Systems

Year Ended March 31, 2020

Statement of Profit and Loss For the

(Amount in Rs.)
Year ended
Year ended
Note
March 31, 2019
Particulars Nos March 31, 2020
INCOME 6,54,57,446 4,10,54,240
18
Revenue from Operations

19 4,67,703 6,28,610
Other Income 6,59,25,149 4,16,82,850
Total

EXPENSES 2,35,99,024 1,84,38,187

20
Cost of Materials Consumed 54,54,250
1,48,05,505
2
Changes in Inventornes of \Work-in-Progress 1,32,75,736 1,21,93,730
22
Employee Benefits Expenses 78,51,127
23 66,07,759
Finance Costs 12,78,444
11 12,97,582
Depreciation and Amortizati0n Expenses
24 1,37,73,738 1,58,97,286
Other Expenses 6,11,13,024
7,33,59,343
Total

(74,34,194) (1,94,30,174)
Profit/(Loss) Before Tax
(39,641) 12,510
Prior Period Expenses (1,94,42,684)
(73,94,553)

Tax Expenses:
Current Tax
Deferred Tax
7.07,555)2
(73,94,553) (1,87,35,129)
Profit/ (Loss) for the year

Earnngs per equity share: 25

(Nominal value of Rs.100 each)
Basic and Diluted
(74.87) (189.68)

Summary of Signiticant Accounting PolCies

See accompanying notes to the tinanical statements
2 to 34
In terms of our report of even date

For and on behalf of the Board of Directors of

FOR DJAD & CO.
Technocrat Plasma Systems Private Limited
Chartered Accountants
FRN NO.150689W
For DJAD& Co.

Abhishek Dubey
Partner PARTNER
PARTNER LASIMA amdana Sharma

Membership No. 174389 Arún Kumar

Director) Director)
UDIN: 2117438AAAABVY03S
DIN (0014645 VASAI DN (00146519)

Place: Mumbai
Place: Mumbai
Date: 08th December, 2020
Date: 08th December, 2020
 Technoctat Plasma Systems Private Limited

Statement of Cash Flows for the year ended 31st March 2020

(Amount in Rs.)
Particulars Year Ended Year Ended
31st March 2020 31st March 2019
Cash Flows from Operating Activitics
Net Profit before taxation
(73,94,553) (1,94,42,684)
Adjustments for:
Depreciation 12,97,582 12,78,444
Finance Cost
66,07,759 78,51,127
Deduct
Interest Income
1,19,031 1,20,738
Dividend Income
18,000
Operating Profit before working capital Changes 3,73,756
Other Adjustments: (1,04,33,851)
Decrease/(lncrease) in trade receivable
3,17,74,111 1,69,08,153
Decrease/ (lncrease) in inventories
1,07,46,537 23,96,748
Decrease/(Increase) in short term loans and advances
(Decrease) /Increase in trade payable (17,38,887) (7,35,741)
(Decrease)/Increase in Other current liabilities (2,70,81,481) (70,74,308)
(Decrease) /Increase in long term provision
(58,95,691) 1,13,69,102
1,35,466 86,466
(Decrease)/Increase in short term provision
Cash Generated From (27,842) (6,58,120)
Operations 82,85,971 1,18,58,450
Tax (Paid)/Refund (Net)
Net Cash from Operating Activities 72,163 (50,986)
83,58,133 33,20,275
Cash Flows from Investing Activities
Purchase of fixed Assets
(1,08,498) (1,10,234)
Dividend received 18,000
Loans and advances given
50,320 (54,303)
Interest received
Net Cash
1,19,031 1,20,738
Inflow/(Outflow) from Investing activities 78,853 (43,799)
Cash Flows from Financing Activities
Proceeds/ (Payment) of Secured Loans
(52,33,200) (57,76,913)
Interest Paid
(66,07,759) (78,51,127)
Proceed/(Payment) from Unsecured Loans
Net Cash Inflow/(Outflow) from Financing activities
21,00,222 22,36,800
(97,40,737) 1,13,91,241)
Net Increase/(Decrease) in Cash Cash Equivalents
or
(13,03,752) 3,72,423
Cash Cash Equivalents at the Beginning of the year
or
35,67,969 31,95,546
Cash Cash Equivalents at the end of the year
or
22,64,217 35,67,969

For DJAD&Co.

PARTNER PLAS S

Sy
VASAI
 Limited
Technocrat Plasma Systems Private

31st March 2020

for the year ended
Statement of Cash Flows

Method" as set out in the Accounting Stanclarcd

Note:
has been prepared under the "Ind1rect
tlow statement
1. The above cash Accountants of lndia.
Institute of Chartered
3 on cash flow statement issued by the
bracket denotes cash
outtlow. current ycars
2. Figures in
wherever necessary in order to contorm
figures have been regrouped and rearranged
3. Prevzous vears

tigures with banks as follows:

the end of the year consist of cash in hand and balances
4. Cash and cash equivalent at (Amount in Rs.)
As at
As at
31.03.2018
31.03.2019
Particulars
2,20,805 9,89,585
Cash in hand 20,43,412 25,78,385
Balances w1th Bank 22,64,217 35,67,969
Total

date
In tems ot our report ot even

behalf of the Board of Directors

of
For and on
FOR DJAD& CO.
Plasma SystemsPrivate Limited
Chartered Accountants
Technocrat
PLAS AR
Vandana Sharma
For DJAD & Co. Aran Kama
Abhishek Dubey
Partner (Director VASA Director)
SDIN (00146519)
Membership No. 174389 DIN (00146
ODIN: 21i743 89AAAAR?ARINER
Place: Mumbai
Place: Mumbai
Date: 08thh December, 2020
Date: 08th December, 2020
 Technocrat Plasma Systems Private Limited

for the year ended March 31, 2020

notes to the financial statements
Accompanying

Policies:
Note 1: Significant Accounting

A Basis of Accounting:
convention, on the accrual basis of
The financial statements are presented under the historical cost
prepared and
and the
of the Companies Act, 2013 (the 'Act)
accounting. and in accordance with the applicable provisions Standarcds
in India (Indian GAAP) and comply with the Accounting
accounting principles generally accepted 2014 (as
read with Rule 7 of the Companies (Accounts) Rules,
(AS) specified under section 133 of the Act,
as

amended).

historical cost convention and are prepared on accrual basis exept bonus which 1s

ii) Financial Statements are based on

acounted on cash Basis.

B Use of Estimates:
with Generally Accepted Accounting Principles requires
The preparation of financial statements in conformity disclosure of
cstumates and assumptions to be made that affect
the reported amounts of assets and iabilities and
uabillties on the financial statements
revenues and
and the reported amountsduring of expenses thhe
contungent
reportng period.
in the in which the results are known/
Ditterence between actual results and estumates are recognized periods
materialize.

C Revenue Recognition
its realisation or collection.
1) Revenue is recognised when it is earned and no significant uncertainty exists as to

and reward of ownership of goods are passed on to the buyer.

ii) Sales are recognised when all significant risks
net of sales
recovered towards excise duty, Sales tax, VAT and trade discount and are
1ii) Sales excludes amount

return.

the outstanding and the rate

Iv) Interest income is recognised on a time proportion basis taking into account amount

applicable
v) Rental income is recognised on accrual basis as per the terms ot agreement.

D Fixed Assets:
All assets are stated at cost of less accumulated depreciation/amortization. Cost includes inward
acquisition,
installation of the assets, necessary for
freight, duties, taxes, and incidental expenses related to acquisition and
bringing the assets to condition for their intended use.
working

E Depreciation:
Tangible Assets
is "Straight Line Method" on the basis of the useful life and in the
Depreciation on tangible assets provided on

manner prescribed in Schedule ll to the Companies Act, 2013.

Intangible Assets
Cost related to purchased computer software, is capitalsed and amortized on useful life of the assets as

prescribed in Schedule II of the Companies Act, 2013.

MA SY S
For DJAD& Co.
VASAI AN

PARTNER
 Technocrat Plasma Systems Private Limited

for the year ended March 31, 2020

the financial statements
Accompanying notes to
sales proceeds and
loss is calculated as the difference between the net
On disposal of fixed assets, the profit or
of sale.
the net carrying amount, with depreciation being charged upto the month

F Impairment of Assets:
of exceeds its recoverable value. An impairment loss
An asset 1s treated as impaired when the carrying cost asset

Profit and Loss Account in the year in which an asset is identified as impaired. The impairment
is charged to the
is reversed if there has been a change in the estimate of recoverable
loss recognised in prior accounting period
amount.

G Investments:
date of acquisition, are classitied as long
Investments that are intended to year, from the
be held for more than a
other
term investment and are carried at cost less any provision
for permanent diminution in value. Investments
are valued at cost or fair value
whichever is lower.
than long term investments being current investments

H Inventories:
Inventories are valued as follows:
Finished Goods valued at lower of cost or net realisable value.
i) are

Raw Material valued at lower of cost or net realisable value.

ii) are

Work-in-Process valued lower of cost or net realisable value.

ii) are at

Retirement Benefits:
accounted accrual basis ard
Provident Fund and other Funds for the year is on
1) Company's contribution to

charged to the Statement of Profit & Loss for the year.

benefit obligation and are provided on the

ii) Retirement benefits in the form of Gratuity are considered as defined
basis of acturial valuation using the Projected Unit Credit Method as at the date of Balance Sheet.

sold will be provided as and when incurred.

J Expenses on warranty given in respect or product

K Miscellaneous Expenditure
Preliminary Expenses are being amortised in the year in which they are incurred.

L Borrowing Cost
attr1butable to the acquisitions or construction of fixed
Borrowing costs are charged to revenue unless they are

the borrowing costs are attributable to acquisition construction of fixed assets, the costs
or
Assets. In case
constructions are capitaised and there after
incurred up to the date ot the completion ot the acquisition or

charged to revenue.

For DJAD & Co. VASAI

PARTNER
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements for the year ended March 31, 2020

M Foreign Currency Transactions

Transactions in foreign currency are recorded at the rate of exchange prevailing on the date of transaction. Year-
end balance of foreign currency monetary item is translated at the year-end rates. Exchange ditterences arising on
settlement of monetary items or on reporting of monetary items at rates different trom those at which they were
financial statements are recognised as income or
initally recorded during the period or
reported in previous
expense in the period in which they arise.

N Taxation:
Current Taxes
Provision for current income-tax is recognized in accordance with the provisions of Indian Income- tax Act,
1961 and is made annually based on the tax liability after taking credit for tax allowances and exemptions.

Additional liability, if any during pursuant to assessment under various fiscal statutes shall be accounted for in the
year ot assessment.

Deferred Taxes
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences
that result between the profits offered for income taxes and the profits as per the financial statements. Deferred
tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or substantially
enacted at the balance sheet date. Deferred tax Assets are recognized only to the extent there is reasonable
certainty that the assets can be realized in the future. Deferred Tax Assets are reviewed as at each Balance Sheet
date.

Minimum Alternate Tax

Min1mum Alternative Tax (MAT) credit is recognised as an assets in accordance with the recommendation
contained in the Guidance note issued by the Institute of Chartered Accountants of India. The said assets is
created by way of credit to the Statement of Profit and Loss and shown as MAT credit entitdement. The
Company review the same at each Balance Sheet date and writes down the carrying amount of MAT Credit
Enutlement to the extent there is no longer convincing evidence to the effect that Company will pay normal
Income Tax during the specified period.

Provisions and Contingent Liabilities:

i) Provisions are recognized in terms of Accounting Standard 29- "Provisions, Contingent Liabilities and
Contingent Assets issued by The Institute of Chartered Accountants of India (ICAI), when there is a present
legal or statutory obligation as a result of past events where it is probable that there will be outflow of resources
to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

ii) Contingent Liabilities are recognized only when there is a possible obligation arising from past events due to
occurrence non-occurrence of one or more uncertain future events not
or
wholly within the control of the
company where reliable estimate of the obligation cannot be made.
or
Obligations
basis and only those having a largely probable outflow of resources are provided for.
are assessed on an
ongoing

iil) Contingent Liab1lties are disclosed by way of notes.

VASAI
For DJAD 8& Co.

PARTNER
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements for the year ended March 31, 2020

Note No. 11: Fixed Asscts (Amount in Rs.)

Gross Block Accumulated Depreciation Net Block
PARTICULARS As at Additions Sales As at As at
Depreciation Adjustments As at As at As at
during t h e a l e s during during the
the year charge for the
April 1,2019 March 31, 2020 April 1, 2019 March 31, 2020 March 31, 2020 March 31, 2019
year year year
|Tangible Assets:
Building (Factory Gala) 2,28,42,775 2,28,42,775 | 83,68,424 7,34,444 91,02,869 137,39,906 1,44,74,351
86,41,911 86,41,911 32,34,319 4,55,746 36,90,065 49,51,846 54,07,592
Plant&Machinery
Air Conditioners 5,41,911 5,41,911 4,83,865 3,024 4,86,890 55,021 58,046
-
Furniture & Fixtures 5,21,526 17,674 17,674
5,39,200 5,39,200 5,21,526
Vehicles 36,54,589 36,54,589 34,33,116 50,060 34,83,175 1,71,414 2,21,473
Office Equipment 4,65,108 36,990 5,02,098 4,02,609 11,768 4,14,377 87,721 62,499
|Computers 38,06,513 71,508 38,78,021 37,38,606 42,540 37,81,145 96,876 67,907
Electric Installation 10,67,790 10,67,790 10,14,401 10,14,401 53,389 53,389
Total (A) 4,15,59,797 1,08,498 4,16,68,295 2,11,96,866 12,97,582 2,24,94,448 1,91,73,847| 2,03,62,931
Intangible Assets:
Computer Software 1,48,750 1,41,312 7,438 7,438
1,48,750 I 1,41,312
Total (B) 1,48,750 1,48,750 1,41,312 1,41,312 7,438 7,438
Total (A+B) 4,17,08,547 1,08,498 4,18,17,045 2,13,38,178 12,97,582 2,26,35,760 1,91,81,285 2,03,70,369
Previous Year 4,15,98,314 4,17,08,548| 2,00,59,733 12,78,444 2,13,38,178 2,03,70,370 2,15,38,581

*Motor Car Includes Car held in the name of the director of the Company.

OCRATS
For DJAD & Co.

VaSA
PLAS
PARTNER
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020

Note 2: Share Capital

Details of authorised, issued and subscribed share capital
(Amount in Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
Authorised Share Capital
1,00,00,000 1,00,00,000
1,00,000 Equiry Shares of Rs 100/- each
Issued Share Capital
98.770 (08.770) Equity Shares of Rs 100/- each fully paid up 98,77,000 98,77,000

Subscribed and Paid up

98,77,000 98,77,000
98,770 (98,770) EquiryShares of Rs 100/-cachfully paidup_
Total 98,77,000L 98,77,000

Note 2.1-Terms & Conditions

is entitled
TheCompany has only one class of equity shares having a par value of Rs. 100 per share. Each holder of equity share to

one vote per share.

In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company,

The distribution will be in the number of equity shares held by the

after distribution of all preferential amounts. proportion to

shareholder
Note 2.2- Shareholders having more than 5 % shareholding
As at March 31, 2020 As at March 31, 2019

No of Equity No of Equity
Name of Shareholder Relationship Percentage Percentage
shares held shares held
57.12%
Arun Kumar Sharma Director 57,019 57.12o 57,019
42.88%
andana Sharma Director 41,751 42.88% 41,751
Note 2.3- Reconciliation of number ofequity shares
As at March 31,2020 Aat
s March 31,2019
Particulars S.
Number Rs. Number
98,770| 98,77,000 98,770 98,77,000
Shares outstanding at the beginning of the year
Add: Shares Issued during the year
Less: Sharesbought back during the year 98,77,000
Shares outstand1ng at the end of the year 98,770 98,77,000 98,770
Note 2.4 - Bonus Shares/Buy Back/Shares for consideration other than cash issues during the past years
received cash
There is no issue ot the share/ buy back of own shares/ shares issued for consideration without payment being in

five financial year trom reporting date.

during previous

For DJAD &Co. SYS

PARTNER
SIYHO ONH
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020
Note 3: Reserves & Surplus

(Amount in Rs.)
s at As at
Particulars
March 31, 2020 March31,201
a. Securities Premium Reserve
Opening Balance 2,95,08,000 2,95,08,000
Add: Secunties premium credited on Share issue
Closing Balance 2,95,08,000 2,95,08,000
b. Surplus
Opening balance (4,68,81,759) (2,81,46,620)
Add: Net Profit/(Loss) for the
current year (73,94,553) (1,87,35,129)]
Closing Balance (5,42,76,312 (4,68,81,759)
Total (2,47,68,31) (1,73,73,758)
Note 4: Long Tem Borrowing
(Amount in Rs.)
Non Current Portion Current Maturities
Particulars
As at As at As at As at
31st March, 2020 31st March,201931st March,2020 31st March, 2019
Loan From Banks
Secured Loans
|Loan against property from Vijaya Bank 1,27,11,965 1,55,38,584 32,79,071 51,00,000
Refer Note 4.2.1)

Vehicle Loans 48,568 1,29,640

Refer Note 4.2.2)

|Loan From Others

Unsecured Loans
Loans and Advances From Related Parties
2,54,39,768 2,33,39,546
(Refer Nore 4.2.3)

Total 3,81,51,732 3,88,78,130 33,27,639 52,29,640

Note 4.1: Additional Information secured Long Term Borrowings
-

to

The Non-Current portion of term loans are shown under long term borrowings and the current maturities of the long term
borrowings are shown under other current iabilities as per disclosure requirements of the Schedule III of the Companies Act, 2013.

For DJAD& Co.

MA SY

PARTNER VASA

ONHO
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020

Note: -4.2 Details Relating to Term Loans
Note:-4.2.1 Loan Against Property Form Bank
A) Secured by way of

Primary Security
Secured by way of Charge created on entire Current Assets of the Company.

Collateral Security
-
Refer Note no. 7.1 for the Collateral Securiry details

B)Details of Terms of Repayment

No. of Terms of First Installment
Bank Nanme Sanction Amount Interest Rate Date
Installments Repayment
ijaya Bank Limited 2,55,00,000 12.85% 60 Monthly December, 2018

Note: 4.2.2 Vehical Loan Form Bank

Vehicle Loan anmounting to Rs. 3,65.000/- was avazled dluring the financial year 2015-16 and carrics interest @ 1005% pa.The loan
is repayable in 60 monthly installments along with interest staring from September,2015. The loan is secured by frst charge on the
vehicle specifically financed out of the loan.

Note 4.2.3:Loan &Advances From Related Parties

As at As at
Particular Relation
March 31, 2020 March 31, 2019
|Arun kumar Sharma
Director 2,34,32,7977 2,19,27,746
Sudhir kumar 3,00,000
Director 3,00,000
Vandana Sharma Director 17,06,970 11,11,800
Total 2,54,39,768 2,33,39,546

Note 5: Deferred Tax Liability [Net

Deferred tax assets have not been recognised as these assets are not considered to be virtually certain of realisation.

Note 6: Long Term Provisions

(Amountin Rs.)
Aat
s As at
Particulars March 31, 2020 March 31, 2019
Provision for Employee Benefits:
|Provision for Gratuuty 9,88,507 8,53,041
Total 9,88,507 8,53,041

For DJAD &Co. 1USV

VASAI
PARTNER

HO3
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020
Note 7: Short Term Borrowings
(Amountin Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
|A. Secured
|Loans repayable on demand
Working Capital Loan From Bank (Refer Note 7.1) 2,03,61,765 2,09,37,954
Material Assisstance from The National Small Industries Corporation Limited 36,71,455 35,99,846
Raw
(Refer Note 7.2)

B.Unsecured
Inter Corporate loan 20,00,000 20,00,000
Total of Secured and Un-Secured 2,60,33,2211| 2,65,37,800
Note 7.1:Working Capital Loan From Bank

A. Secured by way of:

a. Primary Securities:
) Hypothecation of Raw Materials, Work in Process, Finished Goods as well as Materials used in the process of Manufacturing of
Plasma Cutting & Energy Saving Weldling Machines with 25% Margin.
i) Hypothecation of Book Debts of not older then 90 days of Govt./Semi Govt. and reputed public limited Companies with 40 %
Margin.

b) Collateral Securities:
Equitable Morgage commercial unit No. 310, of "TAPO COMMERCIAL CENTER" at Ram Mandir Road , Goregaon
(West), Owned by one of the Director of the Company.
i) Equitable Mortgage of Flat No. A-204 in the 'Vasant Nagri Malhar Co-operative Housing Sociery Ltd. Siruated at village
Manikpur, Vasai, Thane.
Gi) Equitable Mortgage of commercial unit No.304 & 309, of "TAPO COMMERCIAL CENTER" Ram Mandir Road, Goregaon
(West) owned by the Company
(v) Equitable Mortgage of Bungalow no. 71 in Ambawadi Bungalow Scheme, Village Walive, jointdy owned by both the Drectors
of the Company.
() Mortgage of industrial Gala no. 6, 7, 8 on the Ground floor & Gala nos. 105, 106, 107, 108 with 2 additional Mezzanine tloors
in the building known as "NIRAV No.2" in the industrrial complex known as "GAONDEVI INDUSTRIAL ESTATE" siruated
on NA land measuring survey no. 44, 45 &94 ar Vil. Sativali, Vasai Taluk, District Thane owned by the Company.

B. Details of outstanding Working Capital Loan

s at As at
Bank Name March 31, 2019
March 31, 2020
Cash Credit Faciliry with Vijaya Bank
2,03.61,765 2,09,37,954
Total 2,03,61,765 2,09,37,954

For DJAD &Co.

PARTNER MA SYS

VASAI
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020
Note 7.2: Raw Material Assisstance from The National Small Industries Corporation Limited
Secured against Bank Guarantee equivalent to the value of limit sanctioned from any nationalised bank/approved bank of NSIC.

Note 8: Trade Payables

(Amount in Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
Due to Mliero and Small Enterprises (Reter Note 8.1)
Due to Others 2,91,89,511 5,62,70,992
Total 2,91,89,511 5,62,70,992
Note 8.1: Due to Micro, Small Enterprises
There are no Micro and Small Enterprises, to whom the Company owes dues as at 31 March, 2020. Further no interest was paid/
payable during the year to such enterprises. This information as required to be disclosed under the Micro, Small and Medium
Enterprise Development Act, 2006, has been deternnined to the extent such parties have been identified on the basis of information
available with the Company. This has been relied upon by the statutory auditors of the Company.

Note 9:Other Current Liabilities

(Amountin Rs.)
As a s at
Particulars March 31, 2019
March 31, 2020
Current Alanur1ties ot Long Term Borrowings (Reter Note 4) 33,27,639 52,29,640
Advance from Customers 1,23,18,118 1,57,23,689
Other Liabilit 1,61,11,511| 1,86,01,631
Total 3,17,57,268 3,95,54,960
Include Statutory dues

Note 10 : Short Term Provisions

(Amountin Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
PrOvision for employee benefits:
PrOvision for Graruiry 27,842
Total 27,842
Note 12: Non Current Investment
(Amountin Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
(Valued at cost, unless stated otherwise)
A. Other Investments
G) Unquoted Investment in Equity instruments
1.800Equiry Shares of Rs.25/- in Shamrao Vithal Co-operative Bank 45,000 45,000
Total 45,000 45,000

For DJAD& Co.

PARTNERR
N P
PLAS

VASAI
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020
Note 13: Long Term Loans & Advances

(Amountin Rs.)
As at As at
Particulars
March 31,2020 March 31, 2019
Unsecured, considered good
Security Deposits 13,78,329 14,68,529
Balances with Revenue Authorities 10,63,411 10,23,531
Advance Tax (Net of Provisions) 92,396| 164,559
Total 25,34,136 26,56,619

Note 14: Inventories (At lower ofcost and Net Realisable Value)

(Amountin Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
(As Taken, Valued & Certified by Management)
Raw Materials and components 2,68,54,183 2,27,95,215
Work-in-progress 1,71,58,495 3,19,64,000
Total 4,40,12,678 5,47,59,215
Note 15: Trade Receivables

(Amount in Rs.)
s a As at
Particulars March 31, 2020 March 31, 2019
Unsecured, (considered good)
Ourstanding for a period more then six months 3,64,04,901 6,61,09,918
Other Debts 31,70,040 52,39,134
Total 3,95,74,941 7,13,49,052
Note 16: Cash & Bank Balances

(Amount in Rs.)
Asat Asat
Particulars March 31, 2020 March 31,2019
Cash & Cash
Equivalents
Cash on hand 2,20,805 9,89,585
Balances with banks
- In Current Account
1,42,809 7,84,910

Ocher Bank Balances

In Fixed Deposits
With maturity of after 12 months 19,00,603 17,93,475
Total 22,64,217 35,67,969

For DJAD& Co.

PLA A S

PARTNER VASAI

ONH HO
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020
Note 16.1:
All the Fixed Deposits are held as margin money against gurantees given by Bank.

Note 17: Short term Loans & Advances

(Amountin Rs.)
As at As at
Particulars March 31, 2020 March 31, 2019
Others Loans & Advances
in kind value to be received 36,16,672 18,77,785
Adrance recoverable in cash or or

Total 36,16,672 18,77,785

Note 18: Revenue From Operations

(Amountin Rs.)
Year Ended Year Ended
Particulars March 31, 2020 March 31,2019
Sale of Products (Gross) 6,53,58,543 4,10,54,240
Other Operating Revenue
Custom Dury Drawback 98,903
Total 6,54,57,446| 4,10,54,240
Note 19: Other Income
(Amountin Rs.)
Year Ended Year Ended
Particulars March 31, 2020 March 31, 2019
Interest on Fixed Deposit 1,19,031 ,738
Rent Received 3,07,629 5,07,872
Dividend Income 18,000
Exchange Fluctuation Gain (Net) 23,043
Total 4,67,703 6,28,610

Note 20: Cost of Material Consumed

(Amount in Rs.)
Year Ended Year Ended
Particulars
March 31,2020 March 31,2019
Opening Stock of Raw Materials 2,27,95,216 1,97,37,713
Add: Purchases of Raw Materials (Refer Note 20.1) 2,76,57,992 2,14,95,690
Less: Closing Stock of Raw Materials 2,68,54,184 2,27,95,216
Total 2,35,99,024 1,84,38,187
Note 20.1: Purchases of Raw Materials includes Related party purchase made from firm of Director's Relative"Techno Dyne"
amounting of Rs. Nil (P.Y. Rs. 21,66,480/- Net off Tax).

For DJAD & Co.

oASM

PARTNER VASAI

ON
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020

Note 21: Changes in Inventories of Work-in-Progress

(Amount in Rs.)
Year Ended Year Ended
Particulars March 31, 2020 March 31, 2019
Opening Inventory

W'ork-In-Progress
3,19,64,000 3,74.18,250
3,19,64,000 3,74,18,250
Total (A)
Closing Inventory
1,71,58,495 3,19,64,000
Work-In-Progress 1,71,58,495 3,19,64,000
Total (B) 54,54,250
Total (A-B) 1,48,05,505

Note 22: Employee Benefit Expenses (Amount in Rs.)

Year Ended Year Ended
Particulars March 31, 2020| March 31, 2019
Salaries and Incentives 1,01,50,834 95,11,337
5,27,438 2,71,187
Contributions to Provident Fund
71,934 83,391
Employer Cont. to EsiC
Maharashtra Labour Fund 1,584 1,332
|Employers Contribution to
2,13,917
Gratury 2,64,091
Staff Welfare Expenses 2,47,637
Directors Remuneration (Refer Note 22.1) 20,62,392| 20,62,392
Total 1,32,75,736| 1,21,93,730

Note 22.1- Details of Directors Remuneration are as follows (Amount in Rs.)

Year Ended Year Ended
Particular Relation March 31, 2020 March 31, 2019
|Aun Kumar Sharma Director 11,32,392 11,32,392

Vandana Sharma Director 9,30,000 9,30,000

Total 20,62,392 20,62,392

Note 23: Finance Cost (Amount in Rs.)

Year Ended Year Ended
Particulars March 31, 2020 March 31, 2019

|Interest expense
On Term Loan 27,85,552 34,96,088
On Working Capital Facility 26,31,905 29,67,907
On Vehicle Loan 8,928 17,086
On Interest Others 8,23,428 10,28,601
Bank Charges 3,57,946 2,71,785
Interest cost on Gratuity 69,660
Total 66,07,759 78,51,127

For DJAD& Co.

PARTNER VASAI

HO N
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020

Note 24: Other Expenses (Amountin Rs.)

Year Ended Year Ended
Particulars March 31, 2020 March 31, 2019
Manufacturing Expenses
Power and Fuel 8,69,616 10,89,488

Rent 2,41,000 4,64,751

Rates and Taxes 1,58,937 71,110
Insurance 1,31,958 1,21,170
Transport and Freght Charges 4,45,982 4,37,154
Carmage Inward 1,48,724 1,06,583

1abour Charges 34,11,530 17,92,774

Repairs to Bulding 9,741 1,09,772
Repairs to Machinery 8,33,699 3,17,074
Consumable Stores and Materials 1,96,644 2,98,106
Other Administrative Expenses
Legal and Professional 10,59,595 3,96,145
Advertisement and Sales Promotion Expenses 3,42,450 4,51,128
Telephone Expenses 1,19,834 2,90,616
Travelling and Conveyance Expenses 24,76,133 29,03,239
Liquidation Damange Charges 26,412 2,52,221
Printing& Stationery Expenses 51,421 97,752
Remuneration to Auditor (Refer Note 24.1) 1,50,000 1,50,000
Brokerage and Commission 80,502 5,75,923
Secuiry guard 2,12,000 1,84,209
V'ehicle Expenses 3,84,241 2,74,772
|Postage& Courier Charges 1,10,407 1,01,190
Exchange Flucruation 10,895
Sundry balance written off (net) 14,67,650 75,063
Bad Debts written off 47,45,832
Miscellaneous Expenses 8,45,263 5,80,320
Total 1,37,73,7388 1,58,97,286
(Amount in Rs.)
Note 24.1- Auditors Remuneration:
Year Ended Year Ended
Particulars March 31, 2020 March 31,2019
|As Auditor
For Starutory Audit 1,10,000| 1,10,000|
For Tax Audit 40,000 40,000
Total 1,50,000 1,50,000

Note 25: Earning PerShare (EPS)

Earnings Per Share is calculated in accordance with Accounting Standard 20 "Earning Per Share' - (AS-20), notified by the
Company's (Accounting Standard:s) Rules, 2006 (as amended)

(Amount in Rs.)
Year Ended Year Ended
Particulars March 31, 2020 March 31, 2019
) Net profit after taxes as per statement of profit & loss Attributed to Equry Shareholders 73,94,553) (1,01,36,180)
1) Weighted average number of equity shares used as denominator for calculating EPS 98,7 98,770
(ui) Basic & Diluted 74.87)| (102.62)
1) Face value per Share in Rupees 100 100

For DJAD &Co.

PARTNER
 Technocrat Plasma Systems Private Limited

notes to the financial statements

Accompanying
for the year ended March 31, 2020

Note 26 : In the opinion of the Board the Current Assets, Leans & Advances are realisable in the ordinary course of business
atleast equal to the anmount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not

in excess ol amount reasonably necessay

Note 27: Trade Receivables, Trade P'ayables, Other Current Assets, Loans and advances, Other Current Liabilties are subject to
contirmaon and reconcilation. Some of the trade receivable, trade payables are outstanding for significant period of time and the
if
negotiation and reconciliation with all such parties and the Conseyuential adjustment
the process of thereof,
management is in

any. will be given effect into the books of accounts in the year of such adjustment

Note 28: Contingent Liabilities & Commitments

(Amount in Rs

As at Asat
Particulars March 31, 2020 March 31, 2019
A. Contingent Liabilitics
Bank Guarantees 61,84,187 84,39,969

B. Claims not acknowledged as del

Disputed Demand of Rs. 6,88,380/- raised by the Maharashtra Value Added Tax
department consisting of VAT liability, interest and penalty in respect of the Fnancial year

2008-09. Against the disputed dues the Company has filed an appeal with the Deputy
6,88,380 6,88,380
Commissioner of Sales tax Appeal V. The Company has also paid an amount of Rs.|

3,57,531/- against the disputed demand and the same has been reflected in the Long term

|Loans and advances.

Disputed Demand of Rs. 36,63,623/- raised by the Maharashtra Value Added Tax 36,63,623 36,63,623
department consisting of VAT liability, interest and penalty in respect of the Financial year
|2009-10. Against the disputed dues the Company has filed an appeal with the Deputy
Commissioner of Sales tax Appeal - V.

Disputed Demand of Rs. 8,20,307/- raised by the Sales Tax department consisting of CST| 8,20,307 8,20,307
iability, interest and penalty in respect of the Financial year 2009-10. Against the disputed
dues the Company has filed an appeal with the Deputy Commissioner of Sales tax Appeal -|

Disputed Demand of Rs. 1,17,11,073/- raised by the Maharashtra Value Added Tax 1,17,11,073 1,17,11,073
department consisting of VAT liabilty, interest and penalry in respect of the Financial year|
2010-11. Against the disputed dues the Company has filed an appeal with the Depury
Commissioner of Sales Tas Appeal V. The Company has also paid an amount of
Rs.2,00,000/- against the disputed demand and the same has been reflected in the Long|

term Loans and advances.

Disputed Demand of Rs. 1,01,00,069/- aised by the Sales Tax department consisting of 1,01,00,069 1,01,00,069
CST iabilitry, interest and penalty in respect of the Financial year 2010-11. Against the
disputed dues the Company has filed an appeal with the Depury Commissioner of Sales|
Tax Appeal - V. The Company has also paid an amount of Rs. 1,00,000/- against the

disputed demand and the same has been reflected in the Long tem Loansand advances.

ERS
For DJAD& Co.

d SLY
PARTNER
 Technoerat Plasma Systems Private lLimited

Accompanying notes to the financial statenments

for the year cnded March 31, 2020
As at
Particulars March 31, 2020 March 31, 2019
Disputed Demand ot Rs 17,30,258/- raised by the Maharashtra V'ahue Adled TaN 17,30,258 17,30,258
iepartent onsisting of VAT hab1hty, interest and penalry in respect of the Financial year
2011-12 Against the dhspured dues the Company has filed an appeal with the Depury
ommissoner of Sales tax Appeal- V.

Disputed Demand of Rs 77,94,284/- raised by the Sales Tax department consisting of CST| 77,94,284 77,94,284
la bulhity, interest and penalry in respect of the Financial year 2011-12 Against the dispured

haes the Company has filed an appeal with the Depury Commissioner of Sales tax Appeal

|Disputed demand of Rs 5,38,904/- & Rs 14,84,450/- ruised by the assessing oficer in

respet of Asessment Year 2008-09 & 2009-10 respectively. Against the demand the
Company has filed an appeal with the CIT (Appeals). The Company has also paid an 20,23,354 20,23,354
demand and the
amxunt of Rs 1,50,000/- (towands A.Y. 2009-10) against the disputed
reflected the Long Loans and advances.
same has been in tem

4,61,99,985| 4,69,71,317
Total
towards employee benefits as
Note 29: Durning the year Company has not carned out actrurnal valuation of its gratruty obligations
Benefits". Since current year disclosures are not available,
reyured under "Accounting Standard (AS)-15 (Revised) Employee
-

previous years disclosures are not provided as they are strnctly non-comparable.

ANNNUC

For DJAD & Co. 3YS7

A
PARTNER

SIV
 Technocrat Plasma Systems Private Limited

Accompanying notes to the financial statements

for the year ended March 31, 2020

Note 30: Related Party disclosures

a.List of related parties

Name of the Party Relationship
Director
Mr Anin kumar Sharma
Mrs. V'andana Shama Director

TechnoDyne (Prop:Sulhir Sharma) Firm of Directors relative

b.Transactionswith Related Parties: (Amount in Rs.)

Year Ended Year Ended
Name of Party Nature of Transaction
March 31, 2020 March 31, 2019
Mr. Anun Kumar Sharma Remuneration 11,32,392| 11,32,392
Ms. Vandana Shama 9,30,000| 9,30,000
Remuneration
Mr. Ann Kumar Sharma Loantaken 33,13,000 19,45,000
Mrs. V'andana Shana Loantaken 14,05,170 21,21,800
Mr. Sudhir Kumar Loantaken 3,00,000
Mr. Ann Kumar Sharma Loan repaid 18,07,948 11,20,000
Mrs. V'andana Sharma Loan repaid 8,10,000 10,10,000

Techno Dyne Loan repaid 3,33,31,565| 78,45,898

TechnoDyne Advancegiven 18,50,060 27,22,194
Techno Dyne Purchase 21,66,480
c. Balance Outstanding of Related Parties:
As at Year Ended
Name of Party Receivable /Payable March 31, 2020 March 31, 2019
Mr. Aun Kumar Sharn Loan Payable 2,34,32,798 2,19,27,746
Mrs. Vandana Sharma Loan Payable 17,06,970 11,11,800
Techno Dyne Receivable 33,09,925 14,59,865
Techno Dyne Receivable 2,11,29,420 5,44,60,985
Ar. Sudhir Kumar Receivable 3,00,000| 3,00,000
Note 31: Infomation pursuant to para 5(i) and 5(ii) of the General Instructions to the Statement of Profit and Loss

(a) Particulars of consumption of raw materials: (for manufacturing goods)

(Amount in Rs.)
Year Ended Year Ended
Raw Materials
March 31, 2020 March 31, 2019
Kaw Material 2,35,99,024| 1,84,38,187
Total 2,35,99,024| 1,84,38,187
(b) Particulars of traded goods purchases
(Amount in Rs.)
Year Ended Year Ended
Traded Goods
March 31, 2020 March 31, 2019
Purchase of Stock- In- Trade
Total
(c) Particulars of Work-in-progress
(Amount in Rs.)
Year Ended Year Ended
Work in Progress
March 31, 2020|| March 31, 2019
Work in Progress 1,71,58,495 3,19,64,000
Total 1,71,58,495 3,19,64,000

For DJAD & Co.

PARTNER
 Twhinat Plavuna eme Nae tamnd

Aunpavg naee a the thanal seavemeu

R the vear endet Atand t, M

d Partivudas d saks ant imventon pew (e manufac turing wnanie)

Anmountin Rs)
Yearndet MACh S1 00
Manufactured Goods SAlee Ckuing Openie
Ivents Hwentoy

Total

Note 2: lnformation pursuant o pan S(d of the General lustractions to the Starenment of Profit and Lows
(a) ahe ot lmpors m C.lLF Basis
Amountin Rs)
Year Bnde Year Bnded
Particulas March 31, 020 March 31, 2019
Raw laternals 20843
Total (40,894) 2,87,457
* Dunng the vear, the aunqany has ukeu lGST eodirt ot unpuorts maude un the eartier verars Aevondiuul the impmat int eurrent vear

ar et ot suwh afrustnetnts, hemr negatnr

(b) Consun1ption of raw materials

(Amount in Rs.)
Year Bnded March 3t, 2020 Year Bnded March 31, 2019
Particula
Amount Percentage Amount Percentage
08431
lnigenouS
2,36,30,918 00.1 LN229,755 100
Total 2,35,99,024| 100 1,84,38,187|

During the year, the company has taken 1GST crevit ot imports made in the earlier veas. wndnngly the unport vt current year
are net ot such adjustments, hence negative.

ot
Note 35 The has ncurred losses durng the year theretiore n view' ot prsent uneertanty randing generatam
:
Conpany
sutticient tutrure taxable income, net deterred tax asset on such losses at the year end inehadng related ereht tor tlhe vear hare not
been recognized in these accounts on the prudent basis.

has regrouped / reclass1tied the previous year tigures to coutom to the current years presentatum.
Note 34: The Company

In terms of our report of euen date

For and on behalf of the Board of Directors of

FOR DJAD& CO.
Technocrat Plasma Systems Private Limited
Chartered Accountants

For DJAD&Co.

Abhishek Dubey ASM

PARTNER ArunKumar Vapdana Shama
Partner VASAI

Membership No. 174389 (Director) (Director)

DIN (00146519)
UDIN: 21(7432 GAHAAGVL035DIN (0146452)
*
Place: Mumbai
Place: Mumbai
Date: 08th December, 2020
Date: 08th December, 2020