Lords Mark Industries Pvt Ltd Shares

Financial Report Summary

LORD'S MARK INDUSTRIES PRIVATE LIMITED Consolidated Financial Statements Summary:

General Information about the Company: Lord's Mark Industries Private Limited is a commercial and industrial company incorporated in India. The consolidated financial statements cover the period from April 1, 2021, to March 31, 2022. The company's corporate identity number is U21000MH1998PTC115601, and its permanent account number is AAACL9328F. The registered office is located in Mumbai. As of the end of the financial year, the company had 160 employees and has not published a sustainability report for the fiscal year. The presentation currency is in Indian Rupees (INR) and is rounded to the nearest Lakh. An indirect method is used for the cash flow statement.

Auditor's Report: The audit firm SDK & ASSOCIATES audited the financial statements, with Shrikant Dilip Kawde signing the report. The firm's registration number is 144662W, and the auditor's membership number is 111573. The auditor's address is in Kharghar-410210. The permanent account number of the auditor's firm is AHQPK2643C. The SRN of form ADT-1 is T36553808. Both the audit report and the balance sheet were signed on September 12, 2022. The auditor's report does not contain any qualifications, reservations, or adverse remarks, and an order for the companies auditors report is not applicable for the company.

Balance Sheet: As of March 31, 2022, the company's total equity and liabilities amounted to INR 21,962.05 Lakhs. This included share capital of INR 500 Lakhs and reserves and surplus of INR 2,761.59 Lakhs. Non-current liabilities totaled INR 6,171.37 Lakhs, primarily consisting of long-term borrowings. Current liabilities stood at INR 12,494.72 Lakhs. Total assets also amounted to INR 21,962.05 Lakhs, with non-current assets, including tangible assets (INR 1,881.23 Lakhs) and intangible assets (INR 4.98 Lakhs), totaling INR 1,965.9 Lakhs. Current assets totaled INR 19,996.15 Lakhs and included inventories (INR 6,788.92 Lakhs), trade receivables (INR 11,242.46 Lakhs), and cash and bank balances (INR 687.45 Lakhs).

Cash Flow Statement (Indirect Method): The company's cash flow statement for the period ending March 31, 2022, showed a net cash flow from operating activities of INR 536.23 Lakhs before extraordinary items and income taxes. Adjustments for depreciation, amortization, and finance costs were considered. There was a net cash outflow from investing activities of INR -691.97 Lakhs, primarily due to the purchase of tangible assets. Cash flows from financing activities before extraordinary items showed a net inflow of INR 315.29 Lakhs, including proceeds from issuing shares (INR 34.37 Lakhs) and interest paid (INR 608.79 Lakhs). The net increase in cash and cash equivalents before the effect of exchange rate changes was INR 159.55 Lakhs. The cash and cash equivalents at the end of the period totaled INR 687.45 Lakhs.

Share Capital: The authorized share capital is 90,00,000 shares, amounting to INR 900 Lakhs. Issued, subscribed, and fully paid-up share capital is 50,00,000 shares, amounting to INR 500 Lakhs, with a par value of INR 10 per share. A reconciliation of the number of shares outstanding showed an increase in the number of shares outstanding by 40,00,000 shares for equity shares, and the number of shares outstanding at the end of the period was 90,00,000 shares. Mr. Sachidanand Upadhyay holds more than 5% of the company's shares, with 45,20,000 shares, representing 90.40% of the shareholding.

Reserves and Surplus: There were additions to reserves from profit for the period, amounting to INR 421.42 Lakhs, and deductions of INR 93.25 Lakhs, resulting in total changes in reserves of INR 328.17 Lakhs. Reserves at the end of the period were INR 2,761.59 Lakhs.

Borrowings: Long-term borrowings included secured borrowings of INR 1,382.05 Lakhs and unsecured borrowings of INR 4,789.32 Lakhs. These borrowings consist of rupee term loans from banks and loans and advances from related parties. The nature of security for certain borrowings is GECL Term Loan. Short-term borrowings include unsecured borrowings of INR 6,182.27 Lakhs.

Tangible Assets: The company's total tangible assets at the end of the period were INR 1,881.23 Lakhs. This includes land, buildings, plant and equipment, furniture and fixtures, vehicles, office equipment, and computer equipment.

Intangible Assets: The company's total intangible assets at the end of the period were INR 4.98 Lakhs.

Non-Current Investments: Non-current investments amounted to INR 4 Lakhs.

Current Investments: The aggregate amount of unquoted current investments is INR 0 Lakhs.

Trade Receivables: Trade receivables totaled INR 11,242.46 Lakhs, and there was no allowance for bad and doubtful debts.

Inventories: Inventories, valued at cost, totaled INR 6,788.92 Lakhs.

Loans and Advances: Loans and advances, which are considered good, totaled INR 1,277.11 Lakhs.

Provisions: Total provisions amounted to INR 449.03 Lakhs, which consisted of provision for corporate tax (INR 150.6 Lakhs) and CSR expenditure provision (INR 298.43 Lakhs).

Government Grants: The company did not receive any capital or revenue subsidies/grants from government authorities during the period.

Employee Benefits: Employment Benefit Expenses totaled INR 186.22 Lakhs and included salary & wages/labour charges (INR 162.88 Lakhs), director remuneration (INR 22.00 Lakhs), and staff welfare (INR 1.34 Lakhs).

Related Party Transactions: There are no related party transactions during the year.

Earnings per Share: Basic and diluted earnings per share are both INR 0.

Contingent Liabilities: Total contingent liabilities and commitments amounted to INR 0 Lakhs.