EUROTECH INFOSYS

rd
56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

BALANCE SHEET AS AT 31/03/2022

In `
Particulars Note No. 31/03/2022 31/03/2021
EQUITY AND LIABILITIES
Owners’ Fund
Owners Capital Account 2.1 1259963.21 4280830.92
Reserves and surplus - -
1259963.21 4280830.92

Non-current liabilities
Long-term borrowings 2.2 26330189.00 19747188.72
Deferred tax liabilities (Net) - -
Other Long term liabilities 2.3 1178246.04 1485067.21
Long-term provisions - -
27508435.04 21232255.93

Current liabilities
Short-term borrowings 2.4 15086129.13 20094714.81
Trade payables 2.5 18205645.65 11510383.11
Other current liabilities 2.6 113255.00 70067.00
Short-term provisions 2.7 214004.00 2518812.04
33619033.78 34193976.96

TOTAL 62387432.03 59707063.81

ASSETS
Non-current assets
Property, Plant and Equipment and Intangible Assets
Property, Plant and Equipment 2.8 3586437.00 4179545.00
Intangible assets - -
Capital work-in-progress - -
Intangible assets under development - -
3586437.00 4179545.00
Non-current investments - -
Deferred tax assets (net) - -
Long-term loans and advances 2.9 2134700.00 2197700.00
Other non-current assets - -
5721137.00 6377245.00

Current assets
Current investments - -
Inventories 3.0 29479649.94 24969085.12
Trade receivables 3.1 14361691.55 11171725.21
Cash and cash equivalents 3.2 3095451.37 7285107.80
Short-term loans and advances 3.3 8170000.00 6905000.00
Other current assets 3.4 1559502.17 2998900.68
56666295.03 53329818.81
Accounting Policies and Notes on Accounts 4.1
TOTAL 62387432.03 59707063.81

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For EUROTECH INFOSYS
CHARTERED ACCOUNTANTS
FRN : 0017986N

Digitally Signed Digitally Signed

VIKRAM PARWANI MOHIT AGGARWAL

(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

The document is digitally signed please refer Digital Signature at the bottom of the last page

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 EUROTECH INFOSYS
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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31/03/2022

In `
Particulars Note No. For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Revenue from operations 3.5 156637092.34 194755413.19
Other income 3.6 350697.29 282079.08
Total Revenue 156987789.63 195037492.27

Expenses
Cost of goods sold 3.7 139622829.44 176474017.44
Employee benefits expense 3.8 2355773.65 2621983.77
Depreciation and amortization expense 2.8 631302.00 727932.00
Finance costs 3.9 2899664.49 2895223.25
Other expenses 4.0 11585134.40 10717679.05
Total expenses 157094703.98 193436835.51

Profit before exceptional and extraordinary items and tax (106914.35) 1600656.76
Exceptional items - -
Profit before extraordinary items and tax (106914.35) 1600656.76
Extraordinary Items - -
Profit before tax (106914.35) 1600656.76
Tax expense:
Current tax - -
Deferred tax - -
Profit/(loss) for the period from continuing operations (106914.35) 1600656.76
Profit/(loss) from discontinuing operations - -
Tax expense of discontinuing operations - -
Profit/(loss) from Discontinuing operations (after tax) - -
Profit/(loss) for the period (106914.35) 1600656.76

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For EUROTECH INFOSYS
CHARTERED ACCOUNTANTS
FRN : 0017986N

Digitally Signed Digitally Signed

VIKRAM PARWANI MOHIT AGGARWAL

(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

The document is digitally signed please refer Digital Signature at the bottom of the last page

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 EUROTECH INFOSYS
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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

NOTES ON ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2022

Note No. 2.1 Capital Account

Particulars Amount Particulars Amount
To Net Loss 1,05,414.35 By Opening Balance 42,80,830.92
To Drawing A/c 40,61,955.36 By Capital Introduced 11,48,002.00
To Closing Balance 12,61,463.21
Total 54,28,832.92 Total 54,28,832.92

Note No. 2.2 Long Term Borrowings

In `
Particulars 31/03/2022 31/03/2021
Term Loan
Banks
Unsecured
Rupee
CANARA BANK LOAN 1588755000011 2716089.00 3200000.00
CANARA BANK LOAN 170004421890 2200000.00 0.00
HDFC BANK CAR LOAN 0.00 847088.72

Others
Unsecured
BHAGWAN DAS AGGARWAL 1565000.00 0.00
CROWN INDUSTRIES 0.00 1200000.00
ETHICS MARKETING 0.00 300000.00
KAKDA STONE CRUSHER 50000.00 0.00
PAWAN KUMAR AGGARWAL 250000.00 250000.00
PRIYANKA GARG 450000.00 0.00
R M COMPUTERS 2499000.00 0.00
SILOMAN ENGINEERS 700000.00 700000.00
SINGHAL COTTON TEXTILES PVT LTD 4900100.00 2250100.00
TRADE LINK COMPUTERS PVT LTD 750000.00 750000.00
UMA AGGARWAL 9100000.00 9100000.00
VEENA RANI AGGARWAL 900000.00 900000.00
YK AUTOWORLD 250000.00 250000.00
26330189.00 19747188.72

Note No. 2.3 Other Long Term Liabilities

In `
Particulars 31/03/2022 31/03/2021
Trade Payables
others
SUNDRY CREDITORS 1178246.04 1485067.21
1178246.04 1485067.21

Note No. 2.4 Short Term Borrowings

In `
Particulars 31/03/2022 31/03/2021
Loans repayable on demand
Banks
Secured
CANARA BANK A/C:-1588261007047 15644840.21 18033525.21
UBI BANK 412104010130113 (558711.08) 1810778.60
HDFC OD A/C NO:-50200032186696 0.00 250411.00

15086129.13 20094714.81

Note No. 2.5 Trade Payables

In `
Particulars 31/03/2022 31/03/2021
Creditors Due others
SUNDRY CREDITORS 18205645.65 11510383.11
18205645.65 11510383.11

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

Note No. 2.6 Other Current Liabilities

In `
Particulars 31/03/2022 31/03/2021
Other payables
Tax Payable
TDS
TDS PAYABLE 113255.00 70067.00
113255.00 70067.00

Note No. 2.7 Short Term Provisions

In `
Particulars 31/03/2022 31/03/2021
Others
AMEX CORPORATE CARD 0.00 2099408.45
AUDIT FEES PAYABLE 150000.00 150000.00
CITI BANK CREDIT CARD 0.00 1151.49
ELECTRICITY EXPS PAYABLE 32768.00 36350.00
SALARY PAYABLE 27097.00 228613.00
TELEPHONE EXPS PAYABLE 4139.00 3289.10
214004.00 2518812.04

Note No. 2.8 FIXED ASSETS

Particulars Rate WDV as on Addition Deduction Total Dep for the WDV as on
01/04/2021 Year 31/03/2022
More than 180 Less than 180
Days Days
Rupees Rupees Rupees Rupees Rupees Rupees Rupees
COMPUTERS &
SERVERS
LAPTOP 40% 59,678.00 0.00 0.00 0.00 59,678.00 23,871.00 35,807.00

ELECTRICAL
EQUIPMENTS
AIR 15% 1,66,678.00 0.00 0.00 0.00 1,66,678.00 25,002.00 1,41,676.00
CONDITIONER
CAMERA 15% 10,128.00 0.00 0.00 0.00 10,128.00 1,519.00 8,609.00
CURRENCY 15% 5,211.00 0.00 0.00 0.00 5,211.00 782.00 4,429.00
COUNTING
MACHINE
ELECTRICAL 15% 17,049.00 0.00 0.00 0.00 17,049.00 2,557.00 14,492.00
LIGHTING
INVERTOR 15% 20,249.00 0.00 0.00 0.00 20,249.00 3,037.00 17,212.00
REFRIGERATOR 15% 4,331.00 0.00 0.00 0.00 4,331.00 650.00 3,681.00

FURNITURE
FURNITURE 10% 2,01,380.00 1,24,165.00 0.00 0.00 3,25,545.00 32,554.00 2,92,991.00

VEHICLES
CAR 15% 36,94,841.00 0.00 0.00 85,971.00 36,08,870.00 5,41,330.00 30,67,540.00
Total 41,79,545.00 1,24,165.00 0.00 85,971.00 42,17,739.00 6,31,302.00 35,86,437.00

Previous Year 48,23,059.00 0.00 84,418.00 0.00 49,07,477.00 7,27,932.00 41,79,545.00

Note No. 2.9 Long-term loans and advances

In `
Particulars 31/03/2022 31/03/2021
Capital Advances
Unsecured, considered good
SECURITY DEPOSIT 2134700.00 2197700.00

Loans and advances to others

2134700.00 2197700.00

Note No. 3.0 Inventories

In `
Particulars 31/03/2022 31/03/2021
Stock in Trade
STOCK 29479649.94 24969085.12
29479649.94 24969085.12

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019
Note No. 3.1 Trade receivables
In `
Particulars 31/03/2022 31/03/2021
Trade Receivable
Unsecured considered good
Within Six Months
SUNDRY DEBTORS 3531550.27 884669.93
Exceeding Six Months
SUNDRY DEBTORS 10830141.28 10287055.28
14361691.55 11171725.21

Note No. 3.2 Cash and cash equivalents

In `
Particulars 31/03/2022 31/03/2021
Cash in Hand 1121619.00 2233559.00
Balances With Banks
Balance With Scheduled Banks
Current Account
HDFC BANK A/C NO 50200007511105 1046540.37 102393.33
HDFC BANK C/A-50200007511068 58321.04 108209.32
ICICI BANK A/C:- 418005500064 671561.95 (925177.71)
ICICI BANK A/C:- 418005500073 135804.77 (705968.70)
UBI 412101010000840 61604.24 153269.30
ICICI BANK C/A-629405041753 0.00 11940.26
Deposit Account
FD WITH BANK 0.00 6306883.00
3095451.37 7285107.80

Note No. 3.3 Short-term loans and advances

In `
Particulars 31/03/2022 31/03/2021
Loans and advances to others
Unsecured, considered good
AJAY KUMAR 50000.00 50000.00
ARISTON TECHNOLOGIES [LOAN] 500000.00 2000000.00
BHAGWAN DAS AGGARWAL 0.00 1535000.00
KRIPALI AGGARWAL 2520000.00 2320000.00
PRAVEEN 200000.00 0.00
R S TOMAR 500000.00 0.00
RAKESH MADAN 1000000.00 1000000.00
SUMANGLAM EQUIPMENT PVT. LTD. 500000.00 0.00
VED PRAKASH [KAMAL] 1000000.00 0.00
VIVECK AGGARWAL 1000000.00 0.00
VIVEK KUMAR SHARMA 900000.00 0.00
8170000.00 6905000.00

Note No. 3.4 Other current assets

In `
Particulars 31/03/2022 31/03/2021
ADVANCE TO PARTY 1057879.00 1572876.11
GST FORWARD 357928.00 466574.53
PREPAID SHOP INSURANCE 12413.00 19034.00
PREPAID VEHICLE INSURANCE 37493.00 31104.00
TDS & TCS RECEIVABLE 93789.17 906836.19
CREDIT CARD PAYMENT EXTRA PAID 0.00 2475.85
1559502.17 2998900.68

Note No. 3.5 Revenue from operations

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Sale of Products
Traded Goods
SALES 156068548.26 193206448.15
Other Goods
COMMISSION RECEIVED 375933.97 1450965.34
Sale of Services
INCOME FROM REPAIRING SERVICE 192610.11 97999.70
156637092.34 194755413.19

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

Note No. 3.6 Other income

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Interest
INTEREST ON FDR 252926.00 246861.00
INTEREST ON IT REFUND 0.00 35020.00
Profit(Loss) on Redemption / Sale of Investment & Property, Plant and
Equipment (Net)
PROFIT ON SALE OF CAR 95830.00 0.00
Miscellaneous
SHORT & EXCESS 1941.29 198.08
350697.29 282079.08

Note No. 3.7 Cost of goods sold

In `
Cost of materials consumed
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Total (A) 0.00 0.00

Purchases of Stock-in-Trade
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Stock in Trade
PURCHASE 144133394.26 161779660.65
Total (B) 144133394.26 161779660.65

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Opening
STOCK IN TRADE 24969085.12 39663441.91
24969085.12 39663441.91
Closing
STOCK IN TRADE 29479649.94 24969085.12
29479649.94 24969085.12
Increase/Decrease
STOCK IN TRADE (4510564.82) 14694356.79
Total (C) (4510564.82) 14694356.79

Total (A+B+C) 139622829.44 176474017.44

Note No. 3.8 Employee benefits expense

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Salary, Wages & Bonus
SALARY 2178690.00 2486723.00
Staff Welfare Expenses
STAFF WELFARE 177083.65 135260.77
2355773.65 2621983.77

Note No. 3.9 Finance costs

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Interest Expenses
Bank Charges
BANK CHARGES 618688.21 1020926.20
Interest on Lease Finance
INEREST ON CAR LOAN 19251.28 131949.17
INTEREST EXPENSES 2261725.00 1742347.88
2899664.49 2895223.25

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019

Note No. 4.0 Other expenses

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Manufacturing Service Costs Expenses
Frieght And Forwarding Charges
FREIGHT CHARGES 54182.90 27161.54
Administrative and General Expenses
Telephone Postage
TELEPHONE EXPENSES 55602.11 59326.50
Printing Stationery
PRINTING & STATIONERY 11252.00 9518.00
Rent Rates And taxes
RENT 8300219.00 7004864.00
Auditors Remuneration
AUDIT FEES 150000.00 150000.00
Repairs Maintenance Expenses
COMPUTER REPAIR AND MAINTAINANCE 8400.00 10800.00
REPAIR AND MAINTENANCE 63693.00 56952.00
Electricity Expenses
ELECTRICITY EXPENSES 353488.00 353627.00
Travelling Conveyance
CONVEYANCE EXPENSES 26091.63 38374.25
Legal and Professional Charges
PROFESSIONAL CHARGES 70000.00 82850.00
Insurance Expenses
INSURANCE EXPENSE 114859.00 148866.26
Vehicle Running Expenses
VEHICLE RUNNING & MAINTENANCE EXP 242303.07 164701.17
Entertainment Expenses
ENTERTAINMENT EXPENSES 16200.00 20648.38
Other Administrative and General Expenses
DISCOUNT PAID 21866.00 0.00
OFFICE MAINTENANCE EXPENSES 167037.00 35958.59
COURIER CHARGES 0.00 14784.00
Selling Distribution Expenses
Commission Paid
COMMISSION PAID 339306.87 191980.36
Other Selling Distribution Expenses
UNBILLED INCOME REVERSAL 1590633.82 2347267.00
11585134.40 10717679.05

Note no -4.1-Significant Accounting Policies: -

Basis of preparation
The financial statements of the concern have been prepared in accordance with the generally accepted accounting principles in
India (Indian GAAP). The concern has prepared these financial statements to comply in all material respects with the accounting
standards notified The financial statements have been prepared under the historical cost convention on an accrual basis. and as a
going concern. Accounting policies not referred to otherwise are consistent with generally accepted accounting principles.
Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the
date of the financial statements and the results of operations during the reporting period. Although these estimates are based
upon management's best knowledge of current events and actions, actual results could differ from these estimates.

1. Tangible Fixed Assets:

Fixed assets are stated at cost less accumulated depreciation and impairment losses if any and also reduced by the
difference between carrying cost and residual value. Cost comprises the purchase price and directly attributable cost of
bringing the asset to its working condition for its intended use. Any trade discounts and rebates are deducted in arriving
at the purchase price.

2. Intangible Fixed Assets:

Intangible assets are recognized when it is probable that the future economic benefits that are attributable to the asset will
flow to the enterprise and the cost of the asset can be measured reliably.

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019
3. Impairment of Assets:
The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based
on internal / external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its
recoverable amount. The recoverable amount is the greater of the asset’s net selling price and value in use. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount
rate that reflects current market assessments of the time value of money and risks specific to the asset. Net selling price
is the amount obtainable from the sale of an asset in an arm’s length transaction between knowledgeable, willing parties,
less the costs of disposal. After impairment, depreciation is provided on the revised carrying amount of the asset over its
remaining useful life.

4. Depreciation and Amortization:

The depreciation has been calculated at the rates provided and prescribed in Income Tax Act on written down value
method.or at rates permissible under applicable local laws so as to charge off the cost of assets to the Statement of Profit
and Loss over their estimated useful life, except on the following categories of assets
(i) Leasehold land and leasehold improvements are amortised over the primary period of lease. No depreciation
has been taken on the value of land
(ii) If asset is used less than 180 days during current financial year then depreciation is equals to 50 % of the rate
applicable on that block.

5. Investments:
• Investments, which are readily realizable and intended to be held for not more than one year from the date on which
such investments are made, are classified as current investments. All other investments are classified as long-term
investments.

• On initial recognition, all investments are measured at cost. The cost comprises the purchase price and directly
attributable acquisition charges such as brokerage, fees and duties. If an investment is acquired, or partly acquired by
the issue of shares or the other securities, the acquisition cost is the fair value of securities issued. If an investment is
acquired in exchange for another asset, the acquisition is determined by reference to the fair value of the asset given up
or by reference to the fair value of the investment acquired, whichever is more clearly evident.

• Current investments are carried at the lower of cost and fair value determined on an individual investment basis. Long-
term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other
than temporary in the value of the long term investments. On disposal of an investment, the difference between its
carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

6. Employee Benefits:
There are low number of employees so no PF , ESI Registration has been applicable and Employee benefits includes only
salary and staff welfare ,

7. Inventories:
Stock in trade, stores and spares are valued at the lower of the cost or net realizable value. Net realizable value is the
estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs
necessary to make the sale. Cost of stock in trade procured for specific projects is assigned by specific identification of
individual costs of each item. Costs of stock in trade, that are interchangeable and not specific to any project is
determined using the weighted average cost formula. Cost of stores and spare parts is determined using weighted
average cost. Cost of Inventories is computed on First in & First out Basis.

8. Borrowing Costs:
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective
asset. All other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest, exchange
differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost
and other costs that an entity incurs in connection with the borrowing of funds.

9. Revenue Recognition:

• Sale and operating income includes sale of products, services, income from job work services, incentives on sales, etc.
• Sale of goods is recognized, net of returns and trade discounts, on transfer of significant risks and rewards of
ownership to the buyer. Sales include excise duty but exclude sales tax and value added tax.
• Sale of services are recognized when services are rendered and related costs are incurred
• Interest income is recognized on time proportion basis taking into account the amount outstanding and the rate applicable

10. Provisions:
A provision is recognized when there exists a present obligation as a result of past events and it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be
made of the amount of the obligation. Provisions are not discounted to present value and are determined based on best
estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and
adjusted to reflect the current best estimates.

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11. Contingent liabilities:

 A contingent liability is a possible obligation that arises from past events whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Concern or a
present obligation that is not recognized because it is not probable that an outflow of resources will be required to
settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably; the Concern does not recognize a contingent liability but
discloses its existence in the financial statements.
 There is no contingent liabilities at the end of the reporting period and no contingent liability can be foreseen in
near future

12. Cash and cash equivalent:

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short
term deposits with banks with an original maturity of three months or less. The Cash Flow statement is prepared by
the indirect method set out in the accounting standards on cash flow statement.

13. Defferred Tax

Consequent to accounting standards (AS-22) on accounting for taxes on Income no deffered tax provision required to be
made for any timing difference issue.

14. Earnings and Expenditure in Foreign currency

There are no foreign exchange transactions during the year .

15. Lease: -
The Concern has taken one adjoin premises on lease for warehouse purpose. Such leases have a renewal and/or
escalation clause and are in the nature of operating lease. The payments amounting to Rs. 8300219.00/- have been
recognized in the statement of Profit & Loss for the year.

16. Micro, Small & Medium Enterprises

The Concern had sought confirmation from its suppliers on their status under Micro, Small and Medium Enterprises
Development Act, 2006 (MSMED Act) which came into force from October 02, 2006. Based on the confirmations received
till date, the disclosure as required by Section 22 of the MSMED Act is provided below:

For the year For the year

ended ended
31 March 2022 31 March 2021

Principal amount remaining unpaid to any MSME at the end of the

(a) NIL NIL
accounting period
Interest due remaining unpaid to any MSME at the end of the accounting
(b) - -
period
(c) Interest paid by Eurotech Infosys as per Section 18 - -
Payment made to the MSME beyond the appointed day during the
(d) - -
accounting period
Interest due and payable for the period of delay in making payment (which
(e) have been paid but beyond the appointed day during the period) but - -
without adding the interest specified under this Act
Interest accrued and remaining unpaid at the end of each accounting
(f) - -
period
Interest remaining due and payable even in the succeeding years, until
such dated when the interest dues as above are actually paid to the
(g) - -
Enterprise, for the purpose of disallowance as a deductible expenditure
under Section 23.

17. Related party disclosures

The following table provides the total amount of transactions (Sales & Purchase of Stock In Trade) that have been entered
into in which Spouse and Mother are partners which will termed as related parties for the relevant financial year:

PARTY NAME FY 2021-22

EUROSYS WORLD (SALE) 4530378.00

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56/302, 3 floor, EROS APPARTMENT, NEHRU PLACE, NEW DELHI -110019
EUROSYS WORLD (PURCHASE) 4405715.00

PIE NETWORK PVT LTD (SALE) 3474405.00

PIE NETWORK PVT LTD (PURCHASE) 8677309.00

18. Other Considerations: -

(a) Previous year figures have been regrouped & rearranged wherever considered necessary to make them
comparable with current year presentation
(b) Expenses are accounted for on Mercantile Basis but some expenses due to their peculiar nature are
accounted for on cash basis. All the expenses charged to the revenue account have been exclusively
incurred for the business of the concern and no income remains to be accounted for. There are no prior
period or extra ordinary expenses debited to Profit & Loss account. There are no extra ordinary
expenses debited to Profit & Loss account.
(c) Closing Stock of the concern has been valued as follows: - Quantities were determined by actual
physical count as on 31/03/2022 by management. All inventories owned by the entity, wherever located,
have been recorded and valued at cost price.
(d) Balances of Debtors, Loan & advances have been declared at realizable value & Balances of Creditors,
Unsecured Loans have been declared at net payable values.
(e) There have been no events after the reporting date that require disclosure in these financial statements.
There is no contingent liability which can be foreseen in near future and cannot be valued or quantified
(f) The Concern does not have any Benami property, where any proceeding has been initiated or pending
against the Concern for holding any Benami property.
(g) The concern does not have transactions or balances outstanding with the companies struck off u/s 248 of the
Companies Act, 2013
(h) The Concern has not traded or invested in crypto currency or virtual currency during the financial year.
(i) The concern has not been declared wilful defaulter by any bank or financial institution or government or any
government authority.
(j) No funds have been advanced or loaned or invested either from borrowed funds or any other sources or kind
of funds by the Concern to or in any other person or entity, or for personal use including foreign entities
(‘Intermediaries’), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Concern (‘Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries or not used for personal purposes or paying any personal debt.
(k) The concern has no transactions which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as search
or survey or any other relevant provisions of the Income Tax Act, 1961)
(l) During FY 2021-22, the concern has considered the unbilled revenue for Rs. 194824/- for which services has
been deemed completed.
(m) Revenues by sales are recognized upon acceptance of goods by the buyers. Other incomes are accounted
for on accrual basis. During FY 2020-21, the company has considered the unbilled revenue for
Rs.1590633.82, but GST billing has been done in FY 2021-22, this figure has been reversed by treating it as
Direct Expense, to nullify this effect in Current Year Profit & Loss account, so double revenue should not be
reflected.
(n) The following table provide the purchase discount has been debited from following parties which has accepted
in next year returns.
RASHI PERIPHERALS LIMITED 1524923.00
REDINGTON INDIA LTD 65348.00
VRP TELEMATICS PVT LTD 57473.00
TOTAL 1647744.00

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For EUROTECH INFOSYS
CHARTERED ACCOUNTANTS Digitally signed by
FRN : 0017986N
VIKRAM Digitally signed by VIKRAM MOHIT MOHIT AGGARWAL
PARWANI
Digitally Signed
PARWANI Date: 2022.10.05 07:35:41
+05'30'
Digitally SignedAGGARWAL Date: 2022.10.05
07:35:16 +05'30'
VIKRAM PARWANI MOHIT AGGARWAL
(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

- 10 -
 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019

BALANCE SHEET AS AT 31/03/2022

In `
Particulars Note No. 31/03/2022 31/03/2021
EQUITY AND LIABILITIES
Owners’ Fund
Owners Capital Account 2.1 643030.69 806530.73
Reserves and surplus - -
643030.69 806530.73

Non-current liabilities
Long-term borrowings 2.2 850000.00 850000.00
Deferred tax liabilities (Net) - -
Other Long term liabilities 2.3 1249864.00 1228264.00
Long-term provisions - -
2099864.00 2078264.00

Current liabilities
Short-term borrowings - -
Trade payables - -
Other current liabilities - -
Short-term provisions 2.4 20000.00 20000.00
20000.00 20000.00

TOTAL 2762894.69 2904794.73

ASSETS
Non-current assets
Property, Plant and Equipment and Intangible Assets
Property, Plant and Equipment 2.5 954400.00 1120448.00
Intangible assets - -
Capital work-in-progress - -
Intangible assets under development - -
954400.00 1120448.00
Non-current investments - -
Deferred tax assets (net) - -
Long-term loans and advances - -
Other non-current assets - -
954400.00 1120448.00

Current assets
Current investments - -
Inventories 2.6 1039496.10 1062717.28
Trade receivables 2.7 243225.00 243225.00
Cash and cash equivalents 2.8 107751.80 61322.60
Short-term loans and advances - -
Other current assets 2.9 418021.79 417081.85
1808494.69 1784346.73
Accounting Policies and Notes on Accounts 3.4
TOTAL 2762894.69 2904794.73

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For CAREPLUS HEALTH INDUSTRIES
CHARTERED ACCOUNTANTS
FRN : 0017986N

Digitally Signed Digitally Signed

VIKRAM PARWANI MOHIT AGGARWAL

(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

The document is digitally signed please refer Digital Signature at the bottom of the last page
 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31/03/2022

In `
Particulars Note No. For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Revenue from operations 3.0 46201.00 340360.00
Other income - -
Total Revenue 46201.00 340360.00

Expenses
Cost of goods sold 3.1 23221.18 259702.50
Employee benefits expense - -
Depreciation and amortization expense 166048.00 195088.00
Finance costs 3.2 2430.80 2100.40
Other expenses 3.3 20001.06 512040.37
Total expenses 211701.04 968931.27

Profit before exceptional and extraordinary items and tax (165500.04) (628571.27)
Exceptional items - -
Profit before extraordinary items and tax (165500.04) (628571.27)
Extraordinary Items - -
Profit before tax (165500.04) (628571.27)
Tax expense:
Current tax - -
Deferred tax - -
Profit/(loss) for the period from continuing operations (165500.04) (628571.27)
Profit/(loss) from discontinuing operations - -
Tax expense of discontinuing operations - -
Profit/(loss) from Discontinuing operations (after tax) - -
Profit/(loss) for the period (165500.04) (628571.27)

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For CAREPLUS HEALTH INDUSTRIES
CHARTERED ACCOUNTANTS
FRN : 0017986N

Digitally Signed Digitally Signed

VIKRAM PARWANI MOHIT AGGARWAL

(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

The document is digitally signed please refer Digital Signature at the bottom of the last page
 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019

NOTES ON ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2022

Note No. 2.1 Capital Account

Particulars Amount Particulars Amount
To Net Loss 1,65,500.04 By Opening Balance 8,06,530.73
To Closing Balance 6,43,030.69 By Capital Introduce 2,000.00
Total 8,08,530.73 Total 8,08,530.73

Note No. 2.2 Long Term Borrowings

In `
Particulars 31/03/2022 31/03/2021
Others
Unsecured
EUROSYS WORLD 50000.00 50000.00
SUMANGLAM EQUIPMENTS PVT LTD 800000.00 800000.00
850000.00 850000.00

Note No. 2.3 Other Long Term Liabilities

In `
Particulars 31/03/2022 31/03/2021
Trade Payables
others
SUNDRY CREDITORS 1249864.00 1228264.00
1249864.00 1228264.00

Note No. 2.4 Short Term Provisions

In `
Particulars 31/03/2022 31/03/2021
Others
AUDIT FEE PAYABLE 20000.00 20000.00
20000.00 20000.00

Note No. 2.5 FIXED ASSETS

Particulars Rate WDV as on Addition Deduction Total Dep for the WDV as on
01/04/2021 Year 31/03/2022
More than 180 Less than 180
Days Days
Rupees Rupees Rupees Rupees Rupees Rupees Rupees
ELECTRICAL
EQUIPMENTS
AIR 15% 23,242.00 0.00 0.00 0.00 23,242.00 3,486.00 19,756.00
CONDITIONER
ELECTICAL 15% 1,81,025.00 0.00 0.00 0.00 1,81,025.00 27,154.00 1,53,871.00
FITTINGS
PLANT & 15% 8,31,300.00 0.00 0.00 0.00 8,31,300.00 1,24,695.00 7,06,605.00
MACHINERY

FURNITURE
FURNITURE 10% 40,388.00 0.00 0.00 0.00 40,388.00 4,039.00 36,349.00

ELECTRICAL
EQUIPMENT
ELECTRICAL 15% 44,493.00 0.00 0.00 0.00 44,493.00 6,674.00 37,819.00
EQUIPMENTS
Total 11,20,448.00 0.00 0.00 0.00 11,20,448.00 1,66,048.00 9,54,400.00

Previous Year 0.00 13,67,536.00 0.00 52,000.00 13,15,536.00 1,95,088.00 11,20,448.00

Note No. 2.6 Inventories

In `
Particulars 31/03/2022 31/03/2021
Stock in Trade
STOCK 1039496.10 1062717.28
1039496.10 1062717.28
 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019

Note No. 2.7 Trade receivables

In `
Particulars 31/03/2022 31/03/2021
Trade Receivable
Unsecured considered good
Exceeding Six Months
SUNDRY DEBTORS 243225.00 243225.00
243225.00 243225.00

Note No. 2.8 Cash and cash equivalents

In `
Particulars 31/03/2022 31/03/2021
CASH IN HAND 104412.00 55552.00
Balances With Banks
Balance With Scheduled Banks
Current Account
UBI BANK 3339.80 5770.60
107751.80 61322.60

Note No. 2.9 Other current assets

In `
Particulars 31/03/2022 31/03/2021
ADVANCE TO PARTY 49071.32 49071.32
GST FORWARD 368950.47 368010.53
418021.79 417081.85

Note No. 3.0 Revenue from operations

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Sale of Products
Manufactures Goods
SALE 46201.00 340360.00
46201.00 340360.00

Note No. 3.1 Cost of goods sold

In `
Cost of materials consumed
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Total (A) 0.00 0.00

Purchases of Stock-in-Trade
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Stock in Trade
PURCHASE 0.00 1322419.78
Total (B) 0.00 1322419.78

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Opening
STOCK IN TRADE 1062717.28 0.00
1062717.28 0.00
Closing
STOCK IN TRADE 1039496.10 1062717.28
1039496.10 1062717.28
Increase/Decrease
STOCK IN TRADE 23221.18 (1062717.28)
Total (C) 23221.18 (1062717.28)

Total (A+B+C) 23221.18 259702.5

 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019

Note No. 3.2 Finance costs

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Interest Expenses
Bank Charges
BANK CHARGES 2430.80 2100.40
2430.80 2100.40

Note No. 3.3 Other expenses

In `
Particulars For the Year Ended For the Year Ended
31/03/2022 31/03/2021
Manufacturing Service Costs Expenses
Power and Fuel
ELECTRICITY EXPENSE 0.00 36120.00
Frieght And Forwarding Charges
Freight 0.00 3300.00
Administrative and General Expenses
Printing Stationery
PRINTING & STATIONERY 0.00 865.00
Rent Rates And taxes
RENT 0.00 440000.00
Auditors Remuneration
AUDIT FEES 20000.00 20000.00
Legal and Professional Charges
ISO CONSULTANCY FEE 0.00 11500.00
Other Administrative and General Expenses
ROUND OFF 1.06 6.37
MISSLLANOUS EXPENSE 0.00 249.00
20001.06 512040.37

Note No. 3.4 - SIGNIFICANT ACCOUNTING POLICIES:

Basis of preparation:

The financial statements of the concern have been prepared in accordance with generally accepted
accounting principles in India (Indian GAAP). These financial statements have been prepared to comply in
all material respects with the Accounting Standards notified. The financial statements have been prepared
under the historical cost convention on an accrual basis and going concern basis. The accounting policies
have been consistently applied by the concern are consistent with those used in the previous year.

Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of
operations during the reporting period. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ from these estimates.

1. Tangible Fixed Assets:

 Fixed assets are stated at cost less accumulated depreciation and impairment losses if any. Cost
comprises the purchase price and directly attributable cost of bringing the asset to its working
condition for its intended use. Any trade discounts and rebates are deducted in arriving at the
purchase price.

 Borrowing costs relating to acquisition of tangible assets which takes substantial period of time to get
ready for its intended use are also included to the extent they relate to the period till such assets are
 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019
ready to be put to use. Assets under installation or under construction as at the Balance Sheet date
are shown as Capital Work in Progress.

2. Depreciation and Amortization:

Depreciation on the fixed assets is provided under written down value method as per the rates prescribed
in Income Tax Act so as to charge off the cost of assets to the Statement of Profit and Loss over their
estimated useful life, except on the following categories of assets:

(I) Assets costing up to ` Rs5, 000/- are fully depreciated in the year of acquisition.
(ii) Leasehold land and leasehold improvements are amortized over the primary period of lease.
(iii) Intangible assets are amortized over their useful life of 5 years.

3. Revenue Recognition:

Revenue from Operations

 Sale and operating income include sale of products, services, etc.

 Sale of goods are recognized, net of returns and trade discounts, on transfer of significant risks and
rewards of ownership to the buyer. Sales include excise duty but exclude sales tax and value added tax.
Sale of services are recognized when services are rendered and related costs are incurred.

4. Inventories:

Stock in trade, stores and spares are valued at the lower of the cost or net realizable value. Net realizable
value is the estimated selling price in the ordinary course of business, less estimated costs of completion and
estimated costs necessary to make the sale. Cost of stock in trade procured for specific projects is assigned
by specific identification of individual costs of each item. Costs of stock in trade, that are interchangeable
and not specific to any project is determined using the weighted average cost formula. Cost of stores and
spare parts is determined using weighted average cost. Cost of Inventories are computed on First in & First
Out Basis. All inventories owned by the entity, wherever located, have been recorded and valued at cost
price.

5. Provisions:

A provision is recognized when there exists a present obligation as a result of past events and it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation, and a
reliable estimate can be made of the amount of the obligation. Provisions are not discounted to present
value and are determined based on best estimates required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

6. Contingent liabilities:

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of
the concern or a present obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases
where there is a liability that cannot be recognized because it cannot be measured reliably, the concern
does not recognize a contingent liability but discloses its existence in the financial statements.

7. Cash and cash equivalent:

 CAREPLUS HEALTH INDUSTRIES
304, SIDHARTH BUILDING, 96, NEHRU PLACE, NEW DELHI-110019
Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand
and short-term deposits with banks with an original maturity of three months or less.

8. Other Considerations: -
(a) Previous year figures have been regrouped & rearranged wherever considered necessary to make
them comparable with current year presentation
(b) Expenses are accounted for on Mercantile Basis but some expenses due to their peculiar
nature are accounted for on cash basis. All the expenses charged to the revenue account
have been exclusively incurred for the business of the concern and no income remains to be
accounted for. There are no prior period or extra ordinary expenses debited to Profit & Loss
account. There are no extra ordinary expenses debited to Profit & Loss account.
(c) Closing Stock of the concern has been valued as follows: - Quantities were determined by
actual physical count as on 31/03/2022 by management. All inventories owned by the entity,
wherever located, have been recorded and valued at cost price.
(d) Balances of Debtors, Loan & advances have been declared at realizable value & Balances of
Creditors, Unsecured Loans have been declared at net payable values.
(e) There have been no events after the reporting date that require disclosure in these financial
statements. There is no contingent liability which can be foreseen in near future and cannot be
valued or quantified
(f) The Concern does not have any Benami property, where any proceeding has been initiated or
pending against the Concern for holding any Benami property.
(g) The concern does not have transactions or balances outstanding with the companies struck off u/s
248 of the Companies Act, 2013
(h) The Concern has not traded or invested in crypto currency or virtual currency during the financial
year.
(i) The concern has not been declared wilful defaulter by any bank or financial institution or
government or any government authority.
(j) No funds have been advanced or loaned or invested either from borrowed funds or any other
sources or kind of funds by the Concern to or in any other person or entity, or for personal use
including foreign entities (‘Intermediaries’), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or
entities identified in any manner whatsoever by or on behalf of the Concern (‘Ultimate
Beneficiaries’) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries or
not used for personal purposes or paying any personal debt.
(k) The concern has no transactions which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax
Act, 1961 (such as search or survey or any other relevant provisions of the Income Tax Act, 1961)

In terms of our attached report of even date Notes to accounts forms part of the financial statements.
For PARWANI AND CO. For CAREPLUS HEALTH INDUSTRIES
CHARTERED ACCOUNTANTS
FRN : 0017986N
VIKRAM Digitally signed by VIKRAM
PARWANI
MOHIT Digitally signed by
MOHIT AGGARWAL
Digitally Signed PARWANI Date: 2022.10.05 07:36:15
+05'30'
Digitally Signed AGGARWAL Date: 2022.10.05 07:34:38
+05'30'
VIKRAM PARWANI MOHIT AGGARWAL
(PROPRIETOR) (PROPRIETOR)
M. NO. : 099570

The document is digitally signed please refer Digital Signature at the bottom of the last page