Lords Mark Industries Pvt Ltd Shares

Financial Report Summary

Here is a comprehensive summary of the provided PDF, structured for clarity and completeness:

I. General Company Information:

• Name: Lord's Mark Industries Limited.
• CIN: U21001MH1998PLC115601.
• Address: B-101, RIDHI SIDHI COMPLEX, MG ROAD, BORIVALI (EAST), MUMBAI MH 400066 IN.
• Industry: Commercial & Industrial.
• Employees: 5.
• Sustainability Report: No.
• Reporting Period: 01/04/2023 to 31/03/2024.
• Nature of Report: Consolidated Financial Statements.
• Currency: INR (Thousands).
• Cash Flow Statement Method: Indirect Method.

II. Auditor's Report:

• Auditor Details: SDK & ASSOCIATES, Chartered Accountants, Firm registration number: 144662W; S.D. KAWDE, Membership number: 111573.
• Auditor's Opinion: The consolidated financial statements provide a true and fair view in conformity with accounting principles generally accepted in India.
• Basis for Opinion: Audit conducted in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013.
• Other Information: The Board of Directors is responsible for other information, including the Management Discussion and Analysis, Board's Report, Business Responsibility Report, and Corporate Governance.
• Responsibilities of Management: Preparation and presentation of consolidated financial statements, maintenance of accounting records, selection and application of appropriate accounting policies, and implementation and maintenance of adequate internal financial controls.
• Auditor's Responsibilities: To obtain reasonable assurance about whether the financial statements are free from material misstatement.
• Other Matters: The financial statements of 2 subsidiaries were audited by other auditors. The total assets reflected by these subsidiaries are Rs. 25,30,21,859, and the total revenues are Rs.37,40,00,007 for the year ended March 31, 2024. The Group's share of profit for the year ended 31st March 2024, in respect of the 2 subsidiaries, is Rs. 12,27,005.
• Report on Other Legal and Regulatory Requirements: Proper books of account have been kept, the consolidated financial statements comply with the Accounting Standards specified under Section 133 of the Act, and none of the directors are disqualified under Section 164(2) of the Act.
• Internal Financial Control: Adequate internal financial controls with reference to consolidated financial statements were maintained and operating effectively.
• Other Auditor's Report Matters: No pending litigations would impact the consolidated financial position; the Group did not have any material foreseeable losses on long-term contracts including derivative contracts; no delay in transferring amounts to the Investor Education and Protection Fund.

III. Annexure A to the Auditor's Report:

• Auditor's Responsibilities: Exercising professional judgment, maintaining professional skepticism, identifying and assessing risks of material misstatement, obtaining an understanding of internal control, evaluating the appropriateness of accounting policies, and concluding on the appropriateness of management's use of the going concern basis of accounting.
• Materiality: The magnitude of misstatements that could influence the economic decisions of a reasonably knowledgeable user of the financial statements.

IV. Annexure B to the Auditor's Report:

• Report on Internal Financial Controls: Opinion on the Holding Company's internal financial controls with reference to consolidated financial statements.
• Management's Responsibility: Establishing and maintaining internal financial controls based on the internal control over financial reporting criteria.
• Auditor's Responsibility: Expressing an opinion on the Holding Company's internal financial controls.
• Meaning of Internal Financial Controls: A process designed to provide reasonable assurance regarding the reliability of financial reporting.
• Inherent Limitations: Material misstatements due to error or fraud may occur and not be detected.
• Opinion: Adequate internal financial controls with reference to consolidated financial statements were maintained and operating effectively.

V. Balance Sheet (Consolidated - Values in Thousands of INR):

• Share Capital: 5,62,362.425 (31/03/2024); 2,82,910.54 (31/03/2023).
• Reserves and Surplus: 3,26,613.22 (31/03/2024); 1,80,347.65 (31/03/2023).
• Total Shareholders' Funds: 8,88,975.645 (31/03/2024); 4,63,258.19 (31/03/2023).
• Long-Term Borrowings: 9,88,848.92 (31/03/2024); 8,13,989.76 (31/03/2023).
• Short-Term Borrowings: 11,83,440.05 (31/03/2024); 9,46,922.94 (31/03/2023).
• Trade Payables: 1,72,268.71 (31/03/2024); 1,13,576.92 (31/03/2023).
• Tangible Assets: 4,77,494.59 (31/03/2024); 3,53,902.44 (31/03/2023).
• Intangible Assets: 385.21 (31/03/2024); 545.82 (31/03/2023).
• Inventories: 9,93,723.09 (31/03/2024); 9,14,750.54 (31/03/2023).
• Trade Receivables: 15,91,723.53 (31/03/2024); 8,47,247.3 (31/03/2023).
• Cash and Bank Balances: 1,89,182.45 (31/03/2024); 1,00,688.97 (31/03/2023).

VI. Cash Flow Statement (Consolidated - Values in Thousands of INR):

• Profit Before Tax: 1,55,577.35 (31/03/2024); 64,874.34 (31/03/2023).
• Adjustments for Finance Costs: 1,82,865.11 (31/03/2024); 1,15,983.3 (31/03/2023).
• Adjustments for Depreciation: 49,385.01 (31/03/2024); 46,579.63 (31/03/2023).
• Net Cash Flows from Operating Activities Before Extraordinary Items: -2,10,834.13 (31/03/2024); 64,081.07 (31/03/2023).
• Net Cash Flows from Investing Activities: -1,72,806.55 (31/03/2024); -2,12,417.14 (31/03/2023).
• Net Cash Flows from Financing Activities: 4,72,134.16 (31/03/2024); 1,80,279.69 (31/03/2023).
• Net Increase/Decrease in Cash and Cash Equivalents: 88,493.48 (31/03/2024); 31,943.62 (31/03/2023).
• Cash and Cash Equivalents at End of Period: 1,89,182.45 (31/03/2024); 1,00,688.97 (31/03/2023).

VII. Share Capital:

• Authorized Share Capital: 15,00,00,000 shares (31/03/2024); 7,00,00,000 shares (31/03/2023). Value: 7,50,000 (31/03/2024); 3,50,000 (31/03/2023)
• Issued Share Capital: 11,24,72,485 shares (31/03/2024); 5,65,82,108 shares (31/03/2023). Value 5,62,362.425 (31/03/2024); 2,82,910.54 (31/03/2023)
• Number of Shares Outstanding at the end of the period: 11,24,72,485 shares (31/03/2024); 5,65,82,108 shares (31/03/2023).
• Details of Shareholding More than 5%: Mr. Sachidanand Upadhyay holds 5,36,72,333 shares, 94.86% (both as of 31/03/2024 and 31/03/2023).

VIII. Reserves and Surplus:

• Statement of changes in reserves, including additions and deductions to reserves and appropriations.

IX. Borrowings:

• Classification of borrowings based on time period, security, and type (e.g., term loans, unsecured loans, loans from directors). Details regarding defaults in repayment, if any.

X. Tangible Assets:

• Disclosure of additional information about tangible assets:
  • Depreciation method
  • Useful lives and depreciation rates
  • Details of additions, disposals, and depreciation for various classes of tangible assets.

XI. Intangible Assets:

• Disclosure of information about intangible assets:
  • Amortization method
  • Useful lives and amortization rates
  • Details of additions, disposals, and amortization for various classes of intangible assets.

XII. Investments:

• Details on non-current and current investments, including aggregate amount of quoted and unquoted investments.

XIII. Loans and Advances:

• Classification and details of loans and advances, including those due by directors and related parties.

XIV. Provisions:

• Disclosure of breakup of provisions, including provisions for corporate tax and other items.

XV. Trade Receivables:

• Details of trade receivables, including gross amount and allowance for bad and doubtful debts.

XVI. Inventories:

• Inventories, including mode of valuation.

XVII. Additional Disclosures on Balance Sheet:

• Contingent liabilities and commitments, proposed dividends, deposits, share application money, etc.

XVIII. Disclosure of Accounting Policies and Estimates:

• Reference to attached information on accounting policies.

XIX. Government Grants:

• Details regarding government grants and subsidies received.

XX. Employee Benefits and Related Party Disclosures:

• Reference to attached information on employee benefits. Related party transactions and if the company is a subsidiary.

XXI. Leases:

• Information if any operating lease has been converted to financial lease or vice versa.

XXII. Earnings Per Share:

• Basic and diluted earnings per share calculations.

XXIII. Consolidated Financial Statements Disclosures * Details of Subsidiaries Consolidated like Lords Mark Biotech, Lords Insurance Broking Services Private Limited etc * Whether consolidated financial statements is applicable on company - YES

This summary captures the essential financial data, auditor's opinions, and supplementary information about Lord's Mark Industries Limited for the specified periods.