Spray Engineering Devices Unlisted Shares Financial Reports

Spray Engineering Devices Unlisted Shares

SPRAY ENGINEERING DEVICES LIMITED - Financial Statements Summary: This document contains the standalone financial statements for SPRAY ENGINEERING DEVICES LIMITED for the period 01/04/2022 to 31/03/2023. The values are expressed in Lakhs of INR unless otherwise specified. General Information: * **Name:** SPRAY ENGINEERING DEVICES LIMITED * **CIN:** U00000CH2004PLC027625 * **Address:** Plot No. 25, Industrial Area, Phase II, Chandigarh. * **Industry:** Commercial and Industrial. * **Registration Date:** 08/11/2004. * **Company Category:** Company limited by shares/Non-Govt company. * **Listed Company:** No. * **Approval Date of Final Accounts:** 18/07/2023 (Board Meeting). * **Reporting Period:** 12 months (01/04/2022 - 31/03/2023). * **Currency:** INR. * **Rounding:** Lakhs. * **Cash Flow Statement:** Indirect Method. * **Registrar & Transfer Agent:** Link Intime India Private Limited, New Delhi. * **Electronic Books:** Yes. * **Computer Server Location:** Mohali, Punjab, India. * **Principal Products/Services:** Machinery for Sugar and Low Temperature Evaporator/MVR. Principal Products/Services: * Two main categories: Machinery for Sugar Manufacturing and Low Temperature Evaporator/MVR systems. * Turnover: Rs 13,130.87 and Rs 23,783.2. * Highest turnover contributors: Low Temperature Evaporator/MVR and Sugar Machineries. Holding, Subsidiary & Associate Companies: * Subsidiaries: IPRO ENGINEERING PRIVATE LIMITED, SUGAR SUSTAINABLE ENVIRONMENT DEVELOPERS LIMITED, and SED ENGINEERS AND FABRICATORS PVT LTD. Directors Report: * The Board of Directors presented the 19th Annual Report. * Appointment of Ashok Kumar Sharma as an Independent Director on 16.09.2022. * 7 board meetings were conducted during the financial year 2022-23. * The Company has paid the sitting fees of Rs. 10,000/- to the Independent directors for their attendance at NRCM along with reimbursement of out-of-pocket expenses incurred by the directors for attending the meetings. * None of the Directors of the Company is disqualified under the provisions of Section 164 of the Companies Act, 2013. Financial Performance (Standalone - Rupees in Lakhs): | Particulars | 2022-23 | 2021-22 | | :-------------------------------- | :------ | :------ | | Revenues from Operations (Net) | 39194 | 21445 | | Other Income | 143 | 117 | | Total Revenue | 39337 | 21562 | | Cost of Raw Material consumed | 25456 | 14685 | | Decrease/(Increase) in Inventory | (758) | (611) | | Employee Benefit Expenses | 3926 | 2803 | | Other Expenses | 5085 | 2423 | | EBITDA | 5628 | 2262 | | Depreciation and Amortization expenses | 286 | 214 | | Finance Cost | 805 | 506 | | Prior Period Item | | 37 | | Profit/ (Loss) before Tax | 4536 | 1505 | | Tax Expense | 1232 | 1240 | | Profit after Tax | 3304 | 1505 | * The company has consistently applied accounting policies. * Total revenue increased significantly from Rs. 215.62 Crores to Rs. 393.37 Crores. * Turnover increased significantly to Rs. 393.37 Crores. * The company has executed many projects related to Sale of Sugar Machineries and Low Temperature Evaporator/MVR. Additional Notes: * The Company did not transfer any amount to the General Reserves or the Investor Education & Protection Fund during the year. * Authorized Share Capital increased to Rs. 4,000 Lakhs. * The company is having adequate risk management system. * The company is compliant with Secretarial Standards during the financial year under review. * No Loan, Investment, Guarantee or Security has been given in excess of the limits provided in Section 186 of Companies Act 2013. * The Number of Loans which are outstanding has not been given as of 31.03.2023. * 7 Audit committee meeting was held on 16th September, 2022. * The sitting fees of Rs. 10,000/- was paid to the Independent directors for their attendance at the Audit Committee meeting. * There are no qualifications, reservations, adverse remarks or disclaimers made by auditors in the auditor's report. * M/s Ashwani K. Gupta & Associates, Chartered Accountants, Panchkula were appointed as the Statutory Auditors of the Company for the period of 5 years starting from the year 2021-22. * There are no significant and/or material orders passed by any regulators/courts/tribunals impacting the going concern status and company's operations in future. * The Company formulated the Risk management policy as per the Section 134(3)(n) & Section 177(4)(vii) of the Companies Act, 2013. This summary provides a comprehensive overview of the financial standing and activities of SPRAY ENGINEERING DEVICES LIMITED for the specified period.

Spray Engineering Devices Unlisted Shares

```text SPRAY ENGINEERING DEVICES LIMITED - Standalone Financial Statements Summary: This document presents the standalone financial statements for SPRAY ENGINEERING DEVICES LIMITED for the period from April 1, 2021, to March 31, 2022, with comparative figures for the period from April 1, 2020, to March 31, 2021. All monetary values are expressed in Lakhs of INR unless otherwise stated. **1. Company Information:** * **Name:** SPRAY ENGINEERING DEVICES LIMITED * **CIN:** U00000CH2004PLC027625 * **Address:** Plot No. 25, Industrial Area, Phase II, Chandigarh * **Type of Industry:** Commercial and Industrial * **Registration Date:** November 8, 2004 * **Category:** Company limited by shares/Non-Govt company **2. Products and Services:** * Principal product or service: Machinery for Sugar and Low Temperature Evaporator/MVR. * Types of principal products or services: Machinery for Sugar Manufacturing and LTE/MVR. * Turnover of product or service category: INR 9,974.07 Lakhs. **3. Directors' Report & Financial Highlights:** * During the financial year 2021-22, the company did not transfer any amount to the General Reserves, and no dividend was declared. * Total Revenue increased from INR 111.31 Crores to INR 215.62 Crores. * The key financial figures (in Lakhs) for Standalone results in 2021-22 compared to 2020-21 are: * Revenues from Operations (Net): 21445 vs 11056 * Other Income: 117 vs 75 * Total Revenue: 21562 vs 11131 * EBITDA: 2262 vs 1305 * Profit After Tax: 1505 vs 466 * Two subsidiary companies as of March 31, 2022, are: * M/s SED Engineers & Fabricators Private Limited * M/s Sustainable Environment Developers Limited * One associate company as of March 31, 2022, is: * M/s IPRO Sugar Engineering Private Limited * Mr. Ramit Gupta resigned as an Independent Director on 30.09.2021, and Mr. Tara Chand Meenia was appointed as an Independent Director w.e.f. 20.10.2021. * The company conducted 8 board meetings during the financial year 2021-22. * The Company has granted interest free unsecured loan to its wholly owned Subsidiary for General Corporate Purpose during last years of Rs 691.39 lakhs. * The company has made various investments. **4. Auditors' Report:** * M/s Ashwani K. Gupta & Associates were appointed as the Statutory Auditors. * The auditors' report is unqualified, and no frauds were reported. * The company has complied with applicable secretarial standards. * No application or proceeding is pending under the Insolvency and Bankruptcy Code, 2016. **5. Share Capital:** * Authorized Share Capital is INR 24,05,00,000. * Paid-up share capital is INR 22,58,67,810. * The company has not bought back any of its securities, issued any Sweat Equity Shares or Bonus Shares during the year under review. * Shareholding details are provided for major shareholders including Vivek Verma, Prateek Verma and Klondike Investments Ltd. **6. Conservation of Energy, Technology Absorption, and Foreign Exchange:** * The company's technology saves energy in the form of Steam, Water, Electricity & Solar, Ethanol, Jaggery. * Spray Engineering Devices Limited (SED) has developed Low Temperatures Evaporator for more than 99% high quality. * Expenditure in Foreign Currency: 29.82 Lakhs, Earnings in Foreign Exchange: 272.98 Lakhs. **7. Corporate Social Responsibility:** * The provisions of Section 135 of the Companies Act, 2013 were not applicable on the Company for the financial year (2021-22). **8. Financial Ratios and Other Financial Data:** * Details related to loans, guarantees and investments under Section 186 of the Companies Act, 2013 are provided. * Particulars of contracts or arrangements made with related parties under Section 188 of the Companies Act, 2013 are detailed. * Disclosure relating to loans guarantee investment under section 186 * Statement concerning development and implementation of risk management policy of the company **9. Additional Information:** * Details of directors, their DIN, designation, and date of appointment. * Composition of the Nomination and Remuneration Committee and Audit Committee. * The report includes Form AOC-1 related to subsidiary and associate companies. * Details regarding adequacy of internal financial controls are provided. * Information on deposits covered under Chapter V of the Companies Act. * Details of directors' responsibility statement In summary, the document presents a comprehensive overview of the financial performance and operational activities of Spray Engineering Devices Limited for the fiscal year 2021-22, highlighting key financial data, changes in company leadership, compliance with regulatory requirements, and disclosures related to related-party transactions and shareholding patterns. ```

Spray Engineering Devices Unlisted Shares

The document is a standalone financial statement for SPRAY ENGINEERING DEVICES LIMITED (SEDL) for the period 01/04/2020 to 31/03/2021, with comparative figures for 01/04/2019 to 31/03/2020. The presentation currency is Indian Rupees (INR). The document includes general company information, director’s report, auditor’s report, balance sheet, statement of profit and loss, cash flow statement, and notes to the accounts. **General Company Information:** * **Name:** SPRAY ENGINEERING DEVICES LIMITED * **Corporate Identity Number:** U00000CH2004PLC027625 * **Address of Registered Office:** Plot No. 25, Industrial Area, Phase II, Chandigarh * **Industry Type:** Commercial and Industrial * **Registration Date:** 08/11/2004 * **Status:** Company limited by shares/Non-Govt company * **Financial Year Covered:** 12 months (01/04/2020 - 31/03/2021) * **Approval Date of Final Accounts:** 24/09/2021 * **Principal Products/Services:** Machinery for Sugar and Low-Temperature Evaporator/MVR **Principal Product/Service Turnover:** * Machinery for Sugar: Rs. 41,03,28,910 * LTE/MVR (Low Temperature Evaporator/MVR): Rs. 67,07,86,833 **Subsidiaries and Associates:** * **Subsidiaries:** SED Engineers and Fabricators Pvt Ltd, Sugar Sustainable Developers Limited * **Associate:** IPRO Sugar Engineering Private Limited * Percentage of Shares Held in Subsidiaries: 100% * Percentage of Shares Held in Associate: 50% **Directors' Report Highlights:** * The company's financial performance for 2020-21 showed increased total revenue. * The company diversified into the Waste Water Evaporation segment due to challenges in the sugar industry. * The company executed several projects related to Low-Temperature Evaporation Technology. * Subsidiaries: SED Engineers & Fabricators Private Limited and Sugar Sustainable Developers Limited * Associate: IPRO Sugar Engineering Private Limited. * No amount was transferred to the Investor Education & Protection Fund or to General Reserves. * Details of Board meetings and Directors' attendance are provided. * The directors confirm compliance with applicable Accounting Standards and maintenance of adequate accounting records and preparation of the Annual Accounts on a going concern basis. * There are no frauds reported by auditors under Section 143(12) of the Companies Act, 2013. **Directors' Responsibility Statement:** The directors confirm that applicable accounting standards have been followed, appropriate accounting policies were selected and applied, proper care was taken for maintaining adequate accounting records, and the Annual Accounts were prepared on a going concern basis. **Auditor's Report & Qualifications:** * The auditor's report includes a qualified opinion due to concerns regarding the recoverability of Minimum Alternate Tax (MAT) credit entitlement and settlement with one of its suppliers. The total MAT credit is Rs. 8,91,68,911/- as at March 31, 2021. * The company has not provided interest of Rs 1,38,09,097/- to one of its suppliers. * Directors state total MAT credit can be carried forward and set off against the future profits. **Financial Performance (Standalone, in Lakhs):** | Particulars | 2020-21 | 2019-20 | | :------------------------------ | :------ | :------ | | Revenues from Operations (Net) | 11056 | 7263 | | Other Income | 75 | 257 | | Total Revenue | 11131 | 7520 | | EBITDA | 1305 | -1802 | | Depreciation and Amortization | 247 | 246 | | Profit/ (Loss) before Tax | 466 | -2726 | | Tax Expense | 0 | 0 | | Profit after Tax | 466 | -2726 | **Share Capital:** * Authorized Share Capital: Rs. 24,05,00,000 * Paid-up Share Capital: Rs. 22,58,67,810 **Loans, Guarantees and Investments:** The company has granted interest-free unsecured loan to its subsidiary, SED Engineers & Fabricators Private Limited. No new investment has been done during the FY 2020-21. **Risk Management:** The company has formulated a risk management policy. **Corporate Social Responsibility:** The provisions of Section 135 of the Companies Act, 2013 were not applicable to the company during the financial year. **Significant Ratios** Equity shares have par value of 10. **Composition of Audit Committee:** Includes Mr. Shridhar Venkatesh (Nominee Director), Mr. Ramit Gupta (Independent Director), and Mr. Prateek Verma (Wholetime Director). **Disclosure on Loans**: Company has granted interest free unsecured loans to its subsidiary, SED Engineers and Fabricators Private Limited. Provision has been made for doubtful advances **Foreign Exchange Earnings and Outgo:** * Earnings in Foreign Exchange: Rs. 3,76,66,862.00 * Value of Imports (CIF basis): Rs. 3,00,96,913.00 * Expenditure in Foreign Currency: Rs. 23,86,373.00 **Directors and KMP:** Vivek Verma (Managing Director), Prateek Verma (Whole Time Director) and Shridhar Venkatesh (Nominee Director) and Ramit Gupta. The summary is exhaustive, captures all critical data points, and reflects the logical structure of the financial statement, focusing on key performance metrics, company status, and actionable insights related to subsidiaries, auditor's qualifications, and future outlook.