CLAVAX POWER PRIVATE LIMITED

PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

PROVISIONAL BALANCE SHEET AS AT 31ST MARCH, 2023

Amount in Rupees
Note As at As at
Particulars
No. 31st March, 2023 31st March, 2022
A EQUITY AND LIABILITIES
1 Shareholder's Funds
(a) Share Capital 1 50,00,000.00 6,00,000.00
(b) Reserves and Surplus 2 11,20,534.00 3,40,574.00

2 Share application money pending allotment - -

3 Non-Current Liabilities
(a) Long-term borrowings 3 31,89,122.00 31,50,000.00
(b) Deferred tax liabilities (Net) 4 - -
(c) Other Long term liabilities - -
(d) Long term provisions - -
4 Current Liabilities
(a) Short-term borrowings 5 - 11,94,356.00
(b) Trade payables 6 16,84,682.00 5,00,600.00
(c) Other current liabilities 7 6,20,543.00 7,42,708.00
(d) Short-term provisions 8 2,70,796.00 94,624.00
Total 1,18,85,677.00 66,22,862.00
B ASSETS
1 Non-current assets
(a) Fixed assets
(i) Tangible assets 16 2,25,601.00 2,82,825.00
(ii) Intangible assets - -
(iii) Capital work-in-progress - -
(iv) Intangible assets under development - -

(b) Non-current investments - -

(c) Deferred tax assets (net) 4 20,299.00 9,233.00
(d) Long term loans and advances - -
(e) Other non-current assets 9 8,000.00 12,000.00

2 Current assets
(a) Current investments - -
(b) Inventories 13 32,99,700.00 50,20,000.00
(c) Trade receivables 10 10,25,300.00 2,84,325.00
(d) Cash and Cash Equivalents 11 51,05,369.00 8,76,645.00
(e) Short-term loans and advances 12 22,01,408.00 1,37,834.00
(f) Other current assets - -

Total 1,18,85,677.00 66,22,862.00

Significant accounting policies and Notes on accounts annexed, forming an intergal part of balance sheet

As per our report of even date

(CA Ranjan Kumar Patra)

Proprietor
Membership No. 238518

Date: 1st September 2023

Place: Bhubaneswar
 CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH, 2023

Amount in Rupees
For the year ended For the year ended
Particulars Note No.
31st March '23 31st March '22
I. Revenue
Revenue from operations 13 10,37,11,010.00 5,19,08,282.00
Other Income - -
Total Revenue 10,37,11,010.00 5,19,08,282.00

II. Expenses:
Cost of materials consumed - -
Purchase of Stock-in-Trade 14 9,79,46,666.00 5,47,81,464.00
Changes in inventories of finished goods, work-in-
progress and Stock-in-Trade 14 17,20,300.00 (43,79,970.00)
Employee Benefit Expense 15 18,07,126.00 6,66,255.00
Finance Costs 3,40,135.00 18,362.00
Depreciation and amortization expense 17 57,224.00 82,038.00
Other expenses 16 8,09,102.00 4,01,263.00
Total Expenses 10,26,80,553.00 5,15,69,412.00
III. Profit before exceptional and extraordinary items and
tax (III - IV) 10,30,457.00 3,38,870.00
IV. Exceptional Items * - -
V. Profit before extraordinary items and tax (V - VI) 10,30,457.00 3,38,870.00
VI. Extraordinary Items * - -
IX. Profit before tax (VII - VIII) 10,30,457.00 3,38,870.00
X. Tax expense:
(1) Current tax 2,70,796.00 94,624.00
(2) Deferred tax (20,299.00) (9,233.00)
2,50,497.00 85,391.00
XI. Profit(Loss) for the period from continuing operations
(VII-VIII) - -
XII. Profit/(Loss) from discontinuing operations - -
XIII. Tax expense of discontinuing operations - -
XIV. Profit/(Loss) from Discontinuing operations (after tax)
(XII - XIII) - -
XV. Profit/(Loss) for the period (XI + XIV) 7,79,960.00 2,53,479.00
(1) Basic 1.56 4.22
(2) Diluted
Significant accounting policies and notes on accounts annexed, forming an intergal part of profit & Loss account

As per our report of even date

(CA Ranjan Kumar Patra)

Proprietor
Membership No. 238518

Date: 1st September 2023

Place: Bhubaneswar
 CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

NOTE 1- SHARE CAPITAL

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Authorised:
5,00,000 equity shares of RS. 10/- each 50,00,000.00 15,00,000.00
50,00,000.00 15,00,000.00
Issued:
60,000 equity shares of RS. 10/- each. Fully paid up 50,00,000.00 6,00,000.00
50,00,000.00 6,00,000.00
Subscribed and Paid up:
60,000 equity shares of RS. 10/- each. Fully paid up 50,00,000.00 6,00,000.00
50,00,000.00 6,00,000.00

Reconcilation of number of shares

No. of shares
Particulars As at 31st March As at 31st March
2023 2022
Outstanding at the beigning of the year 60,000 10,000
Outstanding at the end of the year 5,00,000 60,000

Number of shares held by each shareholder holding more than 5% shares in the company are as follows:

Name of shareholders As on 31st March, 2023 As on 31st March, 2022

No. of % No. of shares %

TRUPTIMANAS KAP 460000 92.00 55000 91.67

GANESH SWAIN 40000 8.00 - -
SRIYASWATISUCHARITA SWAIN - - 5000 8.33

Total 500000 100.00 60000 100.00

NOTE 2 - RESERVES AND SURPLUS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.

Profit and Loss Account

As per last Balance Sheet 3,40,574.00 87,095.00
Add: Profit/(Loss) for the period 7,79,960.00 2,53,479.00
Less: Appropriations
Proposed Dividend - -
Tax on Proposed Dividend
Bonus shares - -
Transfer to reserves - -
11,20,534.00 3,40,574.00
General Reserve - -
Capital Reserve - -
Total 11,20,534.00 3,40,574.00
 CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

NOTE 3 - LONG TERM BORROWINGS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.

UNSECURED
From Directors 2,50,000.00 31,50,000.00

SECURED
OD from Bajaj Finserv 592.00 -
Vehicle Loan from ICICI Bank 12,00,000.00 -
Business Loan from ICICI Bank 17,38,530.00 -

Total 31,89,122.00 31,50,000.00

NOTE 4 - DEFFERED TAX LIABILITIES (NET)

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
On Timing Difference:
Tax effects on differnece on depreciation under (20,299.00) (9,233.00)
Companies Act and Income Tax Act
Total (20,299.00) (9,233.00)

NOTE 5 - SHORT TERM BORROWINGS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Cash Credit From BOB - 7,49,156.00
Others - 4,45,200.00

Total - 11,94,356.00

NOTE 6 - TRADE PAYABLES

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Dues to Creditor 16,84,682.00 5,00,600.00

Total 16,84,682.00 5,00,600.00

NOTE 7 - OTHER CURRENT LIABILITIES

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Other payables:
Advance from Customers 3,75,600.00 6,05,200.00
Audit Fees payable 18,000.00 18,000.00
Salary Payable for March '23 80,360.00 45,630.00
Liabilities For expenses 51,320.00 45,320.00

Statutory Dues
GST Payable 95,263.00 28,558.00

Total 6,20,543.00 7,42,708.00

 CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

NOTE 8 - SHORT- TERM PROVISIONS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Provision for employee bebefits - -
other provisions - -
Provision for Income Tax 2,70,796.00 94,624.00
Proposed Dividends - -
Total 2,70,796.00 94,624.00

NOTE 9 - OTHER NON CURRENT ASSETS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
Preliminary Expenses 12,000.00 16,000.00
Less: Written off During the year 4,000.00 4,000.00

Total 8,000.00 12,000.00

NOTE 10 - TRADE RECEIVABLES

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.
1) Debts due for a period exceeding six months
Considered Good - -
Considered Doubtful - -
2) Debts due for a period less than six months
Considered Good 10,25,300.00 2,84,325.00
Considered Doubtful - -
Less: Provision for Doubtful Debts

Other Debts
Total 10,25,300.00 2,84,325.00

NOTE 11 - CASH AND CASH EQUIVALENTS

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.

Balance with BOB 50,64,243.00 8,71,145.00

Cash on hand 41,126.00 5,500.00
Total 51,05,369.00 8,76,645.00

NOTE 12 - SHORT TERM LOANS AND ADVANCES

As at As at
Particulars 31st March 2023 31st March 2022
Rs. Rs.

Advance to Suppliers 18,75,100.00 -

TDS / TCS 1,81,489.00 93,015.00
Other Loan & Advances 1,44,819.00 44,819.00

Total 22,01,408.00 1,37,834.00

 CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

NOTE 13 - REVENUE FROM OPERATIONS

For the year ended For the year ended

Particulars
31st March '23 31st March '22

Sale of products 10,13,71,615.00 5,19,08,282.00

Sale of services 23,39,395.00 -
Other Operating Revenues - -
Less: - -
Excise duty - -
Total 10,37,11,010.00 5,19,08,282.00

NOTE 14 - CHANGE IN INVENTORIES

For the year ended For the year ended

Particulars
31st March '23 31st March '22

Opening Stock 50,20,000.00 6,40,030.00

Add: Purchase 9,79,46,666.00 5,47,81,464.00
10,29,66,666.00 5,54,21,494.00
Less: Closing Stock 32,99,700.00 50,20,000.00
Total 9,96,66,966.00 5,04,01,494.00

NOTE 15 - EMPLOYEE BENEFIT EXPENSE

For the year ended For the year ended

Particulars
31st March '23 31st March '22

Salaries and wages 17,25,300.00 6,62,656.00

Director Remuneration
Contribution to provident and other funds
Expense on Employee Stock Option Scheme (ESOP) and
Employee Stock Purchase Plan (ESPP)
Staff welfare expenses 81,826.00 3,599.00

Total 18,07,126.00 6,66,255.00

NOTE 16 - OTHER EXPENSES

For the year ended For the year ended

Particulars
31st March '23 31st March '22

Rent Paid 2,40,000.00 1,26,875.00

Repair and Maintenance 65,630.00 36,050.00
Site Development Expenses 15,330.00 6,320.00
Professional Fees 10,000.00 5,500.00
Telephone & Internet Charges 6,250.00 4,520.00
Power & Fuel 61,700.00 11,330.00
Traveling & Conveyance Expenses 61,350.00 23,130.00
Office Expenses 41,375.00 35,410.00
Printing & Stationary 16,965.00 14,630.00
Postage & Courier 3,235.00 -
Web Service Charges 15,320.00 18,320.00
Festival Celebration Expenses 44,730.00 -
News Paper & Periodicals 2,635.00 -
Carriage Outward 60,396.00 25,330.00
Sales Promotion Expenses 96,965.00 71,848.00
Misc. General Admin Expenses 45,221.00 -
Preliminary Expenses Written off 4,000.00 4,000.00
Payments to Auditor:
Audit Fees 15,000.00 15,000.00
Other Matters 3,000.00 3,000.00

Total 8,09,102.00 4,01,263.00

CLAVAX POWER PRIVATE LIMITED
PLOT NO - 460, BEHIND PNB BANK, BOMIKHAL, RASULGARH, BHUBANESWAR - 751010, ODISHA

NOTE - 17: DEPRECIATION AS PER COMPANIES ACT 2013- WDV Method

GROSS BLOCK DEPRECIATION NET BLOCK
ORIGINAL
AS AT SALE/ADJUS AS AT UPTO DURING THE AS AT AS AT AS AT
COST ADDITION
PARTICULARS RATE 01.04.2022 TMENT 31.03.2023 01.04.2022 YEAR 31.03.2023 31.03.2023 31.03.2022
I. TANGIBLE ASSETS

Furniture & Fixtures 9.50% 29,496.00 29,496.00 - - 29,496.00 3,213.00 2,497.00 5,710.00 23,786.00 26,283.00

Plant & Machinery 18.10% 3,03,939.00 3,03,939.00 - 3,03,939.00 75,201.00 41,402.00 1,16,603.00 1,87,336.00 2,28,738.00

Computers 39.30% 30,085.00 30,085.00 - 30,085.00 12,334.00 6,976.00 19,310.00 10,775.00 17,751.00

Mobile Phones 63.16% 27,542.00 27,542.00 - - 27,542.00 17,489.00 6,349.00 23,838.00 3,704.00 10,053.00

3,91,062.00 3,91,062.00 - - 3,91,062.00 1,08,237.00 57,224.00 1,65,461.00 2,25,601.00 2,82,825.00

II. CWIP NA - - - - - - - - -

- - - - - - - - -

DEPRECIATION AS PER INCOME TAX ACT 1961.

DEPRECIATION NET BLOCK
WDV as at AS AT
RATE ADDITION AS AT
01.04.2022 31.03.2023 DURING THE YEAR
PARTICULARS 31.03.2023
<180 DAYS >180 DAYS <180 DAYS >180 DAYS TOTAL

Furniture & Fixtures 10.00% 25,219.00 - - 25,219.00 - 2,522.00 2,522.00 22,697.00

Computers 40.00% 14,441.00 - - 14,441.00 - 5,776.00 5,776.00 8,665.00

Plant & Machinery 15.00% 2,52,398.00 - - 2,52,398.00 - 37,860.00 37,860.00 2,14,538.00

TOTAL 2,92,058.00 - - 2,92,058.00 - 46,158.00 46,158.00 2,45,900.00