H. 0.29, Weston Street, "SIDDHA WESTON” 1st Floor, Room No. 137, Kolkata - 700 013 Phone : +91 33 4064 6264 E-mail: [email protected] www. barkhaandassociates.com 8. 0. ; Lohar Patty Road, Near Durga Mandir INDEPENDENT AUDITOR'S REPORT Kishanganj - 885 108(Bihar) BARKHA & ASSOCIATES CHARTERED ACCOUNTANTS ‘To the Members of BAID POWER SERVICES PRIVATE LIMITED Report on the Audit of the Standalone Financial Statements Opinion We have audited the accompanying standalone financial statements of BAID POWER SERVICES PRIVATE LIMITED(“the Company”), which comprise the balance sheet as at March 31, 2020, the statement of Profit and Loss and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 (“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 31st March 2020, the profit and its eash flows for the year ended on that date. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India {ICAD together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Information Other than the Standalone Financial Statements and Auditor's Report Thereon ‘The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included Board’s Report including Annexure to Board's Report, but does not include the standalone financial statements and our auditor's report thereon. Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.Responsibilities of Management for the Standalone Financial Statements ‘The Company's Board of Directors is responsible for the matters stated in section 134 (5) of the Act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, the financial performance and cash flows of the Company in accordance with the ‘accounting principles generally accepted in India, including the accounting standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the ‘accounting records, relevant to the preparation and presentation of financial statements that give a true and fair view and are free from material misstatement, whether due to fraud oF error. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concer basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. ‘The Board of Directors are responsible for overseeing the Company's financial reporting process. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements ean 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. ‘As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: «Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting 1a 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 internal control. © Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, Under section 143(3)() of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls. © Evaluate the appropriateness of accounting policies used and the reasonableness of accounting ‘estimates and related disclosures made by management. ‘* Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obiained, 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 wwe conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our of ‘Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. Howevg ents or conditions may cause the Company to cease to continue as a going concern.‘* Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance 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. 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, 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 India in terms of sub-section (11) of section 143 of the Companies Act, 2013,we give in the “Annexure A” a statement on the matters specified in paragraph 3 and 4 of the Order, to the extent applicable. ‘As required by section 143(3) of the Act, we report that: We have sought and obtained all the information and explanations whi belief were necessary for the purposes of our audit. to the best of our knowledge and a. 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; b. The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account; In our opinion, the aforesaid Standalone financial statements comply with the Accounting, Standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014. d. On the basis of written representations received from the directors as on 31 March, 2020 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2020 from being appointed as a director in terms of Section 164(2) of the Act. With respect to the adequacy of the internal financial controls over financial reporting of the company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B’ With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to best of our information and according to the explanation given to us - i) The Company has not any disclosed the impact of pending li in its financial statements. ii) ‘The company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. iii) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the company tions on its financial position For BARKHA & ASSOCIATES Chartered Accountants Firm Registration Ni ayiehs Braman Agewsd Barkha Agarwal Partner Membership No: 301636 Place: Kolkata Date: 15" December, 2020 UDIN: 20301636AAAARR1940‘Annexure A to Independent Auditors’ Report BAID POWER SERVICES PRIVATE LIMITED (Referred to in paragraph 1 under the heading of “Report on Other Legal and Regulatory Requirements” of our report of even date) 1) In respect of fixed assets of the Company: (a) The company has maintained proper records showing full particulars including the quantitative details ‘and situation of fixed assets, (b) The fixed assets were physically verified by the management during the year and no material discrepancies between the book records and the physical inventory were noticed. In our opinion, the frequency of verification is reasonable, (©) In our opinion and according to the information and explanations given to us .the title deeds of immovable properties are held in the name of the company. 2) Inrespect of its inventories of the Company. As explained to us, the inventories (excluding stocks with third parties) were physically verified by the management during the year and the company has maintained proper records of its inventories and no ‘material discrepancies were noticed on physical verification, In respect of inventory lying with th parties, these have substantially been confirmed by them. In our opinion, the frequency of verification is reasonable. 3) As informed, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under section 189 of the Act, accordingly, the provisions of clause 3(ii) of the order are not applicable. 4) In our opinion and according to the information and explanations given to us, the provisions of Section 185 and 186 of the Companies Act, 2013 in respect of loans, investments, guarantees and security, have been complied with. 5) In our opinion and according to the information and explanations given to us, the company has not accepted deposits during the year and does not have any unclaimed deposits. Therefore, the provisions of the clause 3(v) of the Order are not applicable to the Company. 6) The provision of clause 3(vi) of the order are not applicable to the company as the company is not covered by The Companies (Cost Records and Audit) Rules, 2014. 7) According to the information and explanation given to us, in respect of statutory dues: (a) The Company has generally been regular in depositing undisputed statutory dues including Provident Fund, Professional Tax, Employees’ State Insurance, Income Tax, Goods and Services Tax, Custom duty, cess and other material statutory dues applicable to it with the appropriate authorities and no such were in arrears as at 31% March 2020 for a period of more than six months from the date they became payable. (b) There were no undisputed amounts have been paid in respect of Provident Fund, Professional Tax, Employees’ State Insurance, Income Tax, Goods and Services Tax, Custom duty, cess and other ‘material statutory dues. 8) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of borrowings or loans to a financial institution, bank, government or debenture holders as at the balance sheet date.9) According to the information and explanations given to us, the Company did not raise money by way of initial public offer or further public offer (including debt instruments) and term loan during the year, nor does it have any loan amount lying outstanding as at the beginning of the year. 10) To the best of our knowledge and belief and according to the information and explanations given to us, no fraud by the company or any material fraud on the Company by its officers/employees has been noticed or reported during the year. 11) The provision of clause 3(xi) of the order are not applicable to the company as the provisions of section 197 read with Schedule V to the Companies Act, 2013 are not applicable to the company. 12) Having regard to the nature of the Company's business/activities during the year, provisions of Clause 3(sxii) of the Order relating to Nidhi Company are not applicable to the Company. 13) In our opinion and according to the information and explanations given to us all transactions with the related parties are in compliance with Section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the Financial Statements etc as required by applicable accounting standards, 14) The company has not made preferential allotmenvprivate placement of shares or fully or partly convertible debentures during the year under review. Therefore, the provisions of Clause 3(xiv) of the Order are not applicable to the Company. 15) In our opinion and according to the information and explanations given to us, the company has not ‘entered into any non-cash transactions with directors or persons connected with him. Therefore provi of clause 3(Xv) of the order are not applicable to the company 16) In our opinion and according to the information and explanations given to us, the company is not required to be registered under section 45-IA of the Reserve Bank of India Act,1934 having regard to the nature of the Company's business/activities during the year . For BARKHA & ASSOCIATES Chartered Accountants Firm Registration No: 327573E Barkha Agarwal Partner Membership No: 301636 Place: Kolkata Date: 15™ December, 2020 UDIN: 20301636AAAARR1940Annexure B to Independent Auditors’ Report BAID POWER SERVICES PRIVATE LIMITED (Referred to in paragraph “e’ under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date) Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”) We have audited the intemal financial controls over financial reporting of BAID POWER SERVICES PRIVATE LIMITED (“the Company”) as of March 31, 2020 in conjunction with our audit of the financial statements of the Company for the year ended on that date, ‘Management's Responsibility for Internal Financial Controls ‘The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and Completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors’ Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit, We conducted our audit in accordance with the Guidance Note on Audit of Intemal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls ‘and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects, ‘Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of intemal financial controls ‘over finaneial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting,‘Meaning of Internal Financial Controls over Financial Reporting ‘A company’s internal financial contro! over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal financial control over financial reporting includes those policies and procedures that; (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the intemal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Opinion In our opinion, to the best of our information and according to the explanation given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2020, based on Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. For BARKHA & ASSOCIATES Chartered Accountants Firm Registration No: 327573E famcrr Agus Barkha Agarwal Partner Membership No: 301636 : Kolkata Date: 15 December, 2020 UDIN: 20301636AAAARR1940BAID POWER SERVICES PRIVATE LIMITED 412 Lake Town Block "B” KOLKATA WB 700088 ‘CIN: U31909WB2003PTC096498 BALANCE SHEET AS AT MARCH 31, 2020 Wote ‘As at Beat No, March 31,2020 March 34,2019, EQUITY AND LIABILITIES: ‘Sharoholders’ funds ‘Share canal 4 507,000.00 .07,000.00 Reserves and supius 5 1110.5,544.4 4157258441 ese416924 © 1,00,01.160.24 Non-currontlailiios LLona-term borowinas 6 e3s619.44 153963.591.50 Current labios ‘Shorter borowings % 32,72.604.53 5.92.578.20 “rade payables 8 62.70.771.20 21,33.858.43, ‘Short-term provisions 3 13144/478.00 740,594 00 (Other curent abies 10 20,25 954.89, 1137:22.608.66 2zossi09 §—-78.37.421.72 TOTAL —aeaeea aera 4, ASSETS ‘Non-current assets Foxed assels @) Tanabe asseis " 245875175, 124042975 Dettered Tax assets 6741.17 Long-term loans and advances 2 93,58,698 51 45273500 18,18,906.92 Current assots Inventories 8 9\4349,71727 63,97,482.82 “Trade receivables 14 5,26, 985 38, 91,60,721 04 Cash and bank balances 18 164626281, 3749sri25, SShorcterm loans and advances 18 34.57,128.44 2,82,89.073.90 95659043 2127327554 TOTAL eae ae ‘Summary of Sigafcant Acceunting Policies 3 “The Schedules refered o above orm an inlogral pat of these aecounis In terms of ur epet of heaven date annexed hereto For BARKHA & ASSOCIATES Chartered Accountants BAID POWER SEHVIEED: Frm Regisation No 327573 Barulan baat {ERVICES PRIVATE LIMITED. BAID POWER SERVICES i 0. (or Ww (BARKHA AGARWAL) Partner Director 1M. No, 301638 RUPAM BAID. RAMESH BAD Place: Kolkata IN: 07358768 DIN: 07380675 Date: 15/12/2020BAID POWER SERVICES PRIVATE LIMITED 462 Lake Town Block "B" KOLKATA WB 700089 ‘CIN: Usi90swez003PTCoN64s8 STATEMENT FOR THE YEAR ENDED MARCH 31,2021 ‘Yoar ended Year ended March 31, 2020 March 31, 2018 Income Revenve ftom operations 7 4,96,20.181.52 1,99:36.958.88 Other income 8 —___334.88076_ —8.500067.44_ Total Revenue 7139,55,032.28 205,90,026.33 Expenses: Purchases of Sock in Trade 1130-48,419.00 198,00,640.05 ‘Changes in Inventories of Finished goods and WIP 19 (735,284.45) 42,18.440.47) Employee benefs expense 2 '60,04,205.00 '53,58.187.00 Finance costs Ea 952.226. 49 7:20:762.20 Depreciation and amortization expense @ 5.83.05400 4.16.442.00, Other expenses 2 513877166 158104.948.74 ‘Total Expenses 71B.75.401,70 7,78.92.535.52 Profit before exceptional, extra ordinary items and tax 20,79,620.58 26,97,480.61 Exceptional lems: 1) Loss on Sale of Motor Car (74,492.00), Profit before extraordinary items and tax Extrzordinary tems Profit before tax 2687490.87 Taxexense: (1) Current ax 7,40,504.00 (2) Deterred tax expense / (benef) (3,185.78) Profit (Loss) forthe poriod ‘Eaminas per equty share a () Basic @) Distea ‘Summary of Significant Accounting Policies 3 ECRTRIERTA 2022 32 39.25 39.25 “The Schade refered To above form an inegral pat of these eccouns In terms of our report of he even date ‘annexed hereto: For BARKHA & ASSOCIATES ‘Chartered Accountants iG ae (BARKHA AGARWAL) Parner M.No. 301636 Place: Kolkata Date: 18/12/2020 RSI FOR BAID POWER SERVICES PRIVATE LIMITED VICES PVT LTD. Bx Director 01358764 DES PVT. LTD. awl Director Director RAMESH BAID DIN: 07980976BAID POWER SERVICES PRIVATE LIMITED CIN: U31903WB2003PTCO96498 4182 Lake Town Block "B" KOLKATA WB 700089 (CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2020 Aeat Agar March 34, 2020, March 31, 2019, L ati Net Profit /(Loss) before Tax 20,05,128.58 26,97,490.81 ‘Add: Adjustments for: Depreciation 6,83,054.00 416,442.00 Deferred tax expense /(beneft) = 33,165.76 Loss on Sale of Motor Car 74,492.00 Interest Income 4,923.00 1,85,812.00 Cash flow before working capital changes 557.507 58 3.12 910.57 ‘Adjustment for Working capital Changes: Inventories (79,51,264.45) (42,18,440.47) ‘Trade Receivabies 3,32,755 68 '52,38,726.73 Loans & Advances (15,00'598.01) (612,972.38) Other Curent Assest : (23,165.76) Trade Payables 31459127 (60,951.80) Other Liabilities (404,436.26) 12,08 462 53 Cash flow from operating activities before taxes paid 125,20,082.71) 24,27, 644.36 Less: Taxes Paid - (7,40,594.00) ash flow from Operating Activities 135,20,082.71) 16,87,050.36 41, Cash flow from investing Activities Interest Received (94,923.00) (1165,812.00) Purchase of Fixed Assets (19,93,868.00) (369,545.00) Sale of Fixed Assets "20,000.00, : Loans & Advances. (2,43,538,00) Purchase of Investment ash flow from investing Activities 123,42,330.00) (535,357.00) Financing Activit 37,29,08427 Borrowings Repaid Cash flow from Financing Activities 37, 20,058.27 = Nat Increase / (Decrease) in Cash flow (1+ 11 +I} (21,03,308.44) 11,51,693.36 (Opening Cash / Cash Equivalents 37,49,571.25 25.97,903.75 Closing Cash / Cash Equivalents, 16,46,262.84 '37,49,597.11 ‘Summary of Significant Accounting Policies Tn terms of our report ofthe even date annexed hereto: For Barkha & Associates Chartered Accountants Firm Registration No. 327573 Bonelrr BAID POWER SERVICES PVD LTD. FOR BAID POWER SERVICES PRIVATE LIMITED BAID POWER SERVICES PVT, LTD. (Barkha Agarwal) Director rector Partner Director Director M. No, 301638 ANUPAM BAID RAMESH BAID Place: Kolkata DIN: 01958764 DIN: 01389676 Date: 18/12/2020‘BAIO POWER SERVICES PRIVATE LIMITED NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 ‘CORPORATE INFORMATION SORPORATE MEORMATION ng vate company donc ne ne norte nde he rooms fe Companies Ac. ‘gue le shares ae not ted in any sock exchanges in [BASIS OF PREPARATION ASS OF PREPARATION can ave ben earn sconce wh gore acpi ED I ad er Tr ee ny hes propre hese franca ena comply na Male pes wih ee andres naifed wider GAAP), Te comet Ns ara ue, 20% on wren are ve rors fo Comes Ae 218 THe eet the Companies Goon prepared on en aczual basis and unde the histres! cost convertion 1c es 4 Uso of estimates 4 Un of eat anil sateen caformiy wih dan GAAP requis te manasa, 09's roan eats, and The rpaaton of oni Sa pas vents ogee, xa on ides a he SACRE ra gy asaumpten Oat af te ef ce etal ar bead on be Menageetts tne krowiege cl Cure eo nd fe pein Pees tans end exes co esi he ocomes equa a mata acumen © We anyon ners ot ‘eves or abies nf pees b. 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Revenue come ant atts ob Pate eotarc brett wi tow he conpany ah vee ca vay measured. Foreign currency transaton Foreign currency transactions and balances Int rocognitin Stal econ ae eored te epreg oen, antigen cen ane Pm Moe rate between Foran a auvony and th orgy crency et the dato he tanocton conversion onverion a, wich ae messed nie feel eat nonin n ee cree, 9 eps a Se Nemertny te, ih eatery a, whch ae meats far a oe Saar vation denied 2 OS a ne alot Mae ving ie xchange ae athe date when su valve was dele. ‘Exchange diferences cheno errr emery on oF stat 7 Decanter 208, he company sss fr escanae ere end onalson/setirent of foregn eur meneay ems a8 blo[BAO POWER SERVICES PRIVATE LIMITED [NOTES To FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 +. Bechang aiterences aisng on manelary Hem the substance, fos par ofthe company's net vesiment in a nonin eon Soamen s secomuctod in he lregn cureoy tension reserve url Ihe aaposa othe nel esi. On the poe of euch net estan ie suruatve anu of te excnange cterences which have been Geered and whch eae that vestments reognizd sr ncom or an expanses inthe are paid mwnch te gainor loss on dsposal is ecconzed. 2 Exchange diferences srsing on longterm foregn curency monetary tems related to aequisiion of aid asset ate captaand and Seprelted over he rerarnng uretu lf of the asset Fr tis purpose he company Weal sferelgn meneay im as "ong foreign ‘Sroney monetary ent Iithas a tem of Y2mentns mre athe Stoo ts origination, 4. Exchange derence atsng on ther long-term foreign cuency moneiary tems ere accumulated in he "Foreign Curercy Monetary em Trandaion Dterence AcouNtend amorned over he romaiing fe fhe concer maneay fem. 4. Aloe exchange difernces are reognizd a income ot 2 expenes in heparin which they arse | Retirement and other employse benetts Hanae tena n te fin of ponent fun sa dene conibuion scheme. The contibutons tthe provident fund ae charge fo he Pare et and bes lorie year when te Ganirbwons ae de, The company has ro cbigaton, ote than te contibton payee the powent fund. “The company operates wo defined bene plans for is employees, vz, grtuly and post employment mesa! bora aby. Te cos at Tovaingotote unr ce pans are determines on te basis of acharial velit a each year-nd: Separate actunrvluaton is eer’ or eath pon Usng te projected unt ced method. Actual gains and lsses for bot defn Bene plans are recogeizes in fat rine ped in weien By occurin te statement of prof and ss. ‘Accumulated eave, wich it expected to be uized wna the next 12 months, i ested as shreterm employes beneft. The company ear e ie expected cot of such shasnoes a he adonel amcunt att expects to pay as a result ofthe urusesentiiement tat Nes ecumstd te Feparing date Expenves incu towards vuntary etrement scheme are charged tthe stslmen! of prot and los immediate, |. Income x05 + oe co comprisos curent and defered tex Curent noome-taxs measure atthe amount expected f be af the tx autores ‘Jeu once wn tne income-ax Ac, 1901 enacted nino and tx lave pevaling i the respective tax jussdictons where the company ceerree tne ta ale an tax ia used to compute he amourt are these ta ae enact or substanvly enacts, a he reporting ate, Cai oa svainng lo tom recognized orecly in equty ie ecomized in equly and notin the statement of prota oss fered income taxes reflec the impsc firing cierences beween nab income and aecounting income orgrating dung te curent Sete cerealof ung cifrenees forthe eater years, Osered tax is moasured uBing the 1X als and the 1x avs enales of Pee are ovetacied ete eparang dale, Defered nome ak rising Ye Roms recogized dec in equy is recognize n equity not initesatement of prof and los. een et erarace ate calculated by Giding the net pot or fas fr the paid atbutale fo equly shareholders (ater doductng nae eae cendans ar attslabe tves) bythe wees average number of eqly shares oustanding Gunn te perad. Paty pal Preece wened oun rocon of on equly share fo re exer ta hy are ened Wo paricpatem avis reiatve fo 2 ul pid ERGY Stare wurng he reporting pared. The weighted average number of equty shares oustanding dung the period's austed for eves SNE ponus iste, once element a nits eve, share spit and reverse share spl (consoidation of shares) hat have charged the ‘umber of uly shates oustanding, wit a corresponding change m resouees For me purpose of calculating dived earings per shar, th net profto oss fr the period tnbutable to enuty shareheters and the Fei sred aarage numberof shares oustanding urn he pane are adusted fre eet of uve potential uy snares, Provisions Prowler acognzed when the company hes 2 present ebigaton asa resut of past event, iis probable that an otlow of escuces ain eccnarne beets wil bo oauted to sete the oblgaion and arelble esimate can be rade ofthe amu of te obionton, embod oonern counted ote present vue and are determines based on te best estimate required (0 eet re obligation atthe Frpwang dae-These ostmtes er reviewed at each reporting ate ard adjusted to elec te Curent best estatesIAD POWER SERVICES PRIVATE LINITED [NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2120 ‘more te company expects some of al of proven f be Teimbutsed, fr example under an insurance contrac, he remburseent i ‘oopizd sea separteestt but only wen the reburtementsvituly cera. The expense relating io any provsion peserted in he ‘Satoment of erofiand lass net of any emburserent. 1m. Contingent abies I contngentlabhty possible oblgation that ales fom past events whose eisence wil be confimed by the oscuence or Nom. ‘ccarerea of one oc more uncertain hire events beyond th contl of the company ca presen bigaton hats no recognized because ‘Shot probes et an euttow of resources wil be requred to sete fe obigaon. A contingent babty also arses in exrerey rare cakes ‘share hee a Yay thot cannot be recognized bocase i cannol be measured relay. The company does net recognize a crtngen, Thy buteeoeee te eistencs inthe nancial statements 1. Cash and cash equivalents 4. SHARE CAPITAL March 34,2020 March 31, 2018 ‘uot: £100,000 PY 1.00.000)equity ehares ot” 10- ac soon90000 10.00.0000, 90,900.00 100.0000 SOTGXPY 60700) egy shares” 10 each, ful pat up ssor00.00 ‘507.0000 507,000.00 507,000.00, 4. Reconelation ofthe shares outstanding atthe baginning and atthe end ofthe reporting period. March 34,2020 March 31, 2019 No. ‘Amount Wo. “Arount Equty Shares ‘he bogening fhe period 070000 507.0000 5.70000 0700000 ‘hat Copa raed ung he year 3 z Closing Eauty Shares 7000 7.50800 sara SOO bb Termsiights attached to equity shares $F compa hes ony one else of shares having a par vale of “10 par share. Each hléerof equity shares is eile to oe vole per share «Deals of shareholders holding more than 5% shares inthe Company March 34,2030 _Maveh 31,2019 _ —__ ‘Anupam Bid 7780000 ae 725.9000, ae Ramesh aid 1400.00 2249 8.00000 1578 ‘Ramesh marta HUF 200 340000 eer ‘Sues Bas 3000.00 175 0000 ie Brash Ba 250000 493 250000 493 ‘spor cords ofthe Company, ining is register of shreholerembers and other daclaratons received fom shareoldersregarcing benotil interest, he sbovesrarehldng represents bot legal and bene onneranips of shares ‘As po ecards et the Company, inclusng is reer of shareholerimembars and other declratons receved rom sharholsersregarting enetica interest the above saceicdng represents both egal end Beneficial owners of shares 5. RESERVES AND SURPLUS March 34,2020 _March 34,2018, Surpivs Opera balance osease024 7804.08.67 ‘Ads. Profioss) forte ese saeiares7 09008257 Total Toisas 0522 LONG-TERM BORROWINGS ‘Maren 31,2020 Maren 31,2018 Unsecured Loan Suahiva Bald 4944.00 54180100, ‘Arash Bais seanaso00 —1260,280.00 amnesh Bais ariryozes ——2586,406.50 ‘Sarwara suppers PV. Lic 720723.00, 675,044.00 TOTAL,z ‘0. 12. 1 [BAD POWER SERVICES PRIVATE LIMITED [NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 ‘SHORT-TERM BORROWINGS March 34,2020 31,2019, ‘Securedconsiderd good OFC Car Loan s7ees732 sazs7a20 "ROB carLoan| 508.997.00, “BANK OD zap1s7021 E Total a272.s08 85 Ema TRADE PAYABLES March 34,2020 __March 31,2018 Sundry Creditors szre7io _sussasss Ez 7a77420 —34.35858.43 Sundry Creditor includ: Creditor Goods cosssis20 259187849 Gredicsfo: Expenses 76497. 00 15204900, ‘cies payable +.00931.00, 89:691.00, ‘otal wazer720 SHORT TERM PROVISIONS, Maren 31,2020 ___March 34,2019, Provision For nome Tax aaa 7.40 50400 Total isa78.00 70,534.00 OTHER CURRENT LIABILITIES Mareh 34,202 March 31,2019, STATUTARY REMITTANCES (GST PAVABLE 1.59588655 4asoee12 Prefessonal Tax 2200.00 80.00 EDU Gonibuton 048.00 73500 Provident Fune Payable 2389500, 19558000 ESiPayabie ‘30000 418200 Tos Payee 2476300, 63988.00 EF Payatlo 4444.00 25494 00 EEE Drector Remuneration Payao 44400000, 7200000 fanupam Baie seqsezor 14047087 Sala Payable '316479.00 3.137540, ‘Advan From Paras 92118810 8 74007.10, peat Against Form 1300.00 300.00 Total 3 33 LONG-TERM LOANS AND ADVANCES. March 38,2020 18 Unsecured, Considered good ‘Secrty Depts 64288700 29192100 EMB-WASEDCL & JUUNL & UTIs 3.73000, S500 Tots 72627500 482,796.00 INVENTORIES March 34,2020 z Stock Trade asaayat en 97asa.82 Fo qasagrirar STAs. ‘TRADE RECEIVABLES ‘Maren 34,2020 __waren 31,2018 ‘Sue sicmonts (-consdered goa 457636874 (i Conese cube 8 i O00 wreaeATE ners ( Consideres goo ee25g6538 ——44,05900.90 1) Considered aout A - ED Lest: Provision for doubt debts Tota! a_i[BAD POWER SERVICES PRIVATE LIMITED notes: 18. CASH AND BANK BALANCES. Gash Hand (As Cored By Management) Balene win Bark On Cisrent Account Ds Ban Lid Bank of Baca Sweep Account Fea Dope | ‘otal 18. SHORT-TERM LOANS AND ADVANCES Unsecured: Considered good Advances To Stat vanes Income tx (ther advances & Deposit OS Recevanle ‘avorce © Party Prop Expenses Deere rarest Registaton Fees Total 17, REVENUE FROM OPERATIONS: GST Sales Toa 48, OTHER INCOME Bank nest Pcting, Ferwarting & Delvery Charges (outer Froaht Charges Discount Reeves Italo, Fitlngs & Wing Sores Repare & Maitenanca Service Bil iscounting Receives Tota 18, CHANGES IN INVENTORIES OF FIWISHED GOODS AND WIP ‘Gpenng Sock n Trade Gheing Stk nade Total 20, EMPLOYEE BENEFITS EXPENSE Selene and hcenves| HRA Bonus and area Ccentibuten to 1) Provident Fund and other ures es! Dect remuneration Conveyance Aionence eave pay Oversme Pr Asin Expenses Tota! 21, FINANCE COSTS Interest on teen var ar Loan Bank carpe Fata R 0 31 MARCH 2 March 31,2020 ___March 31,209, 751 Tea 37377756 a 00240:77 2e,4s8 es4g00 202126400 78.8.2628 S7a0s7126 March 91,2020 Mare 34,2019 881 aiz2041 ayanrooge 1490-70002 43.48 00 2.99.00 seajsico ——-2anstaco 47020184 ‘sse.co (22200 2200 3488.00 843000 200.00 wma BESTE 2020 _Mareh 34. 2018 oaz0 ese 1009805889 96 20-82 99,3988. March 94,2020 Maren 31,2018 Eeaee ss 81205 sase500 ‘462280 aoereco 0.207 00 301200 206.16 soerso 19383523 eearazs 18128888 ‘ees o0 us z. Imareh 31,2020 worch 32018 castasaez — 2i7eo1a35 Gaerva _asarangee est seas) ——Ia2.tbs04n March3,2020___ Moreh 32018 Tat yesoo 208277108 Tegoesooo —sa041100 ‘S700 3.400000 a7soss0 3.08 642.00 5,806.09 senaccs ——goanace ss0,7100 ‘3e000 agesisoo ——934907.00 2220409 ‘e00500, 0500 er00 March 34,2020 _Maren 34,2019, s2igasc0 ——.s,19200 Baer. 40 z sostet2 11308020 391097 12982000 ize ee[RAID POWER SERVICES PRIVATE LIMITED [NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2029 22 OTHER EXPENSES a March 31,2018 [Adreriamant & Seles Prometon Expenses 258 01055 7500000 ‘aust Fees 720,000.00, ‘2000000 Books and Perec 433200, 248000 Certpenses eoassae 3788770 Conveyance expense 344500, (Ca reurance Expens zozeim0 22700 Carige wars 5980.00 1.06820.00 ‘Compuer Expenses s72272t as3aie5 Coreutaney Grarges 35000.00, 20000000 Courer Charges (2028.00 Cartex 4152000 - (CST Assessment Tox 1805.00 29,988.00 Dalvory Charges. 3950100 14970 Discount Aloned ‘74.00 risa75 Exnbiton Serves é 43182800, chica iting expense segrizs Beanery cranes 257 513.00, 33875036, Funl Expenses Vases Vas ours Fring enarges for STC 29572000, caneaton fees ‘9000.00, 5 General Expenses Oce s2s2028 19808488 Inmet access charge 1000.00, bnorest on TOS. 738700 43.00 Income ae 1132000 : Insurance Crarges 341800 z 70000 : 28943.00, 398,780.00 2291200 : logan Professional charges 0,000 09 73000000 emoarhi ees 390000 54907 00 Poetage& Telegram Expenses 2139100, 17732885 Priatefee 12950 Pning 2nd Statonay e241 00 419011850 Registaton Fees 17,300.00 5400000 Rent 1s90651800, 78000 Repairs and Maintenance "6209.00 969800 Rowndedot : 4380.28 ‘a8 ‘Senice Charges 3079700 97400 ‘Tea Reresient 25831986 279011.00, Telephone Expenses 4138 20838, 4ian973.00 ‘Tesing and Catoraton Expenses 307500 ‘375.00 “Traveling ana Carveyance Expenses 7asaz088 74933871 Secanty sermce enarge 1587.00, Sofware Renewal & Webste Expenses se11000 sagst0 TenderFee 2230000 220.00 Packing Expenses 8295000 7225000 Pobtety 2590000, Lae Fes ‘98.00 290 Fling ees : 1000.09 Cage Ovward : 49,015.00, emission On Salse 1238.00 Processing Charges 1400.00 ‘Salven Carat suance charges £280.00 Research & Development Expenses 7878 2557672 Sta ectutnent charges 41,796 0 DDonaten and Subsenpton ; 4,95,100.00 ‘Suncry Balance Wiot 13,188.00 Proleeiona ax 000.00, z “otal ee 2, EARNING PER SHARE (EPS) aries March 34 20) —— Wien, [Na Profit (Las) ar tax ato laia to Eauy Sharenciers (7) tagisre(] 199006257 |weighiea average no of equity shares custancsng 5070000 $2,70000 (BEDI in Be! 27, RELATED PARTY DISCLOSURES ‘ns Related partes where contol ess Name of Relates Pry Me Anupam Bass ‘key Management Persone! 1 Rares) Korar Baid Key Managerent Personnel Power Services| Key Manager Personnal a Proprelor ee Relive of recor ‘elaeg Paty Transactions Feet caaet atte pavdes te ttl amount of ransactons tht hove boon erred nto with relates partes for the relevant franca yar‘BAO POWER SERVICES PRIVATE LIMITED on. Loan and Advance ten an eoement rol 0 Tara aod Patelas opening aatnce | Ten Ounaie [ay og | Reoumert cu | clouny pane estes [arr mae asso saa Sara ia Sf co u ul ae eda eee er| scare : wees} —Henaerr [saree aaiagt a0 Tans ! eget tb. Remunarations and Salary and Bonus to Key Management Poreonnel/ Relatives of Key March 31,2020 ‘arch 31,2018 Management Personnel et ‘Anupam Baid ‘30,000 0 980,000.00, «.Purehase/Sales of goods and services March 34,2020 March 34,2018 ower Services (Purchas) e4e0100 153087500 Power Seoes (Sales) s2agats0 ——18,8571400 loca (Purchase) ‘530.00 148 148.00 leerorart (Sales) 283200 ‘CONTINGENT LIABILITIES na ie PREVIOUS YEAR FIGURES Previous years tues have been regrouped or rearanges whereever rue. bn tome ot our report ofthe oven date smo ht For BARKHA ASSOCIATES FOR BAD POWER SERVICES PRIVATELINITED ‘Chaos Accounts Frm Rapsrasonn s7erae, J BAID POWER SERVICES, pvepe IRC OnEN pote vel dpaads epee \ (WARAHAROARWAL) © Ze Ditectot piece Whe 21606 jeanean RaeSH SAD ctor Pace: Kota ‘on osssree ‘Dw ox3eeers Date 157272020968 00's OC 6COL 0c OE ese 00's (00 S90TED, 6100-106 00's area e10cnr-CI egrsr 0's "ats Oz0z-PRL sso’ 0's ‘ovrose’® Ocoz-aP-02 ssuorsh (0's ‘00°009°6 Oc0z-49-O1 orsh 0s O0'seo ‘0c0z-4°: ars ‘00's cso Ococ-wer-Ze| ouorsh 00'S oseY OcOzELI 80'S 00's Sz9°s Ocoe-ter-E aLorsy 00'S 0s 5102-29G°05| P80°Sb 0's SE9'S ‘610C 081 80'S o's SCOUT (6102-AON-6| Los (o0's (00097 waue> remia | Oc0e-4eA=L 68'S, ‘oor | 0000s ANVUD | 6100-29G-L2| soas'sc ‘0001 fe ANVUD | 6107-A0N 00 FO! San | 610¢P0°81 ‘00 88 9P0E sd | 610c>0r 00'S L9‘OPPL juoumnsuy Suns | 610¢190-¢| sz 0001 00F “ADOUOUA weld | OCOZ=-S ou o's loc'ce6ir BUNSEN AUIPURA SALIOD WEL | Oz0e-wL-Iz| a 00's G102-00N-1 88 Soe 00's ococ-wer-e se Lost Wal os WALA WIT] OLOe-aU-Se| 6 68'St 0007, ‘00701 RUTIEN Wed] —610c-P9C-8C| LOZ eLorsh, ‘00's Ves TorOUTTIN| _G10e-AeS-9| 207 YoLO'Sh 00's Vie euUNIAAT 6 10c-Jas-9] 9 68'S7 ovr S001 Bai ‘Ocoz-eT-ST oe £9) L oo'e Jando | 0Z0z-P-b7| lov £9 98 00'€ enduio5 | 0c0¢-4Pd-L Su. %60'E9 £8 0o'e aaindwod | ozoc-es-91 Elz, S19. Lis 00° induro | 610c-3AV-1¢ 887 oreo 019 ‘00 sandwo3 | 610cOFL1 mie lor i 3 E10z Fa OFT Roatan eae ae pte La en ones poteates | ave | 5) re semana saseypand : aiquisoadog aad sv ayy | 800 EE joawa 07-6107 "A ‘A HOA LUVHO NOLLVIOaudaC GALIATT ALVARId SADTAUAS AMO CVE 6107°¢0'Le WALAV CASVHDUNd SLASSVY HOADy) @) xe TS6T66OT ECCT LEreer | 169°66 DECC SPSSV THOL 86 £96, oi 00'S oozes auoydoias | 610e-Fes-9| TeeOFT SLESTY S8r FC ‘008 (009L68F FD ITOW |_610C-REWT| 968° ‘805 0's 989101 DUO GOW | 610Z-AONL ost s08'se 0s8 vor __[O0'000L1 soma [ooze 197 SoL0St zis 0's foriycsor Saunt ap oom | OZOCPA-TT L0'Sh S68 o's [ooro06ee sammxia yam | OCOT-PALT sL0'Sh oF o's (o0'0008 sompety pamung | OCOT-WIEL slo's SLET 00'S foo"00s zr Somme yam | OCOTUEL-BI voLo'st oscT ‘0s looro09ssz, Soummxt 3 amuwanA | OCOCUEHEL voLO'st ore (00'S [000099 610c9°0-C1 eocorst 098% 00S foooozee 610z-1NT LO'Sb os 00's [000001 G1OTUNELI st9 PLO'Sb 182 o's foo'szos 6107-30-06 e007 e480°Sb 068 0s oo'so8e G10C 9081 BLE th 00'S ooross 610¢34V-81 €l 00'S 00°06 0c0c-4PA-Y 20 sors 871 ‘0s lorssse ococ-wer-Le| OBL 80'S St ‘00's (09°8806 ococuer=IZ| 995 L's cE ons [oo'09%9 coc wH-OE| ver SOS We ons fos 118 Ozoc-wer8I| TL Cane 16 00's losses ococeST SE 80S¥ (002 0's [o0"poor (israel 68 push Lb 00's loorores ‘oc0c-Wer-OF Oz ors £5 00's 918901 6102-29016] rd pozr'sh 801 wos los'8917 6102-90-81 Sb ours SLL o's loo'o0se (610C>20FL1 8 poL0'st ZOE 00's [96°8609 (0z-290-5 68 pouorsh 187 0's foo ores G10e US