i) Provisions
Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event 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. When the Company expects some or all of a provision to be reimbursed,
the expense relating to a provision is presented in the statement of profit and loss net of any
reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre¬
tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage of time is recognised as a finance cost.
Provisions are reviewed at each balance sheet and adjusted to reflect the current best estimates.
j) Contingent Assets & Liabilities
Contingent liabilities are disclosed when there is a possible obligation arising from past events,
the existence of which will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount cannot be made. The
Company does recognise a contingent liability but discloses its existence in the financial
statements.
Contingent assets are not recognised in the financial statements. However, contingent assets are
assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the
asset and related income are recognised in the period in which the change occurs.
k) Taxes
Income tax expense comprises of current tax expense and deferred tax expense/benefit. Current
and deferred taxes are recognised in the standalone statement of profit and loss, except when
they relate to items that are recognised in other comprehensive income or directly in equity, in
which case, the current and deferred tax are also recognised in other comprehensive income or
directly in equity.
Current Income Tax
Current tax is the amount of tax payable on the taxable income for the year as determined in
accordance with the provisions of the applicable income tax law of the respective jurisdiction.
The current tax is calculated using tax rates that have been enacted or substantively enacted, at
the reporting date and any adjustment to tax payable in respect of previous years. Current tax
assets and tax liabilities are offset where the entity has a legally enforceable right to offset and
intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Deferred Tax
Deferred tax is recognised using the Balance Sheet approach on temporary differences arising
between the tax bases of assets and liabilities and their carrying amounts.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be
available against which the deductible temporary differences and the carry forward of unused tax
credits and unused tax losses can be utilised, except when the deferred tax asset relating to the
deductible temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither
the accounting profit nor taxable profit or loss.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or
part of the deferred tax asset to be utilised.
Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to
the extent that it has become probable that future taxable profits will allow the deferred tax asset
to be recovered.
Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to
apply to taxable income in the years in which the temporary differences are expected to be
recovered or settled.
The Company recognises deferred tax liability for all taxable temporary differences associated
with investments in subsidiaries and associates, except to the extent that both of the following
conditions are satisfied:
• When the Company is able to control the timing of the reversal of the temporary difference;
and
• It is probable that the temporary difference will not reverse in the foreseeable future.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset
current tax assets and liabilities.
l) Employee Benefit Expenses
Short-Term Employee Benefits
All employee benefits payable wholly within twelve months of rendering the service are classified
as short-term employee benefits and are measured on undiscounted basis. Benefits such as
salaries, wages, etc. and the expected cost of ex gratia are recognised in the period in which the
employee renders the related service. A liability is recognised for the amount expected to be paid
if the Company has a present legal or constructive obligation to pay this amount as a result of
past service provided by the employee and the obligation can be estimated reliably.
Post-Employment Benefits
Defined Contribution Plan
Post-retirement contribution plans such as Employees' Pension scheme, Labour Welfare Fund,
Employee State Insurance Corporation (ESIC) are charged to the standalone statement of profit
and loss for the year when the contributions to the respective funds accrue. The Company does
not have any obligation other than the contribution made.
Defined Benefit Plans
Employee's Provident Fund
In accordance with the Employees' Provident Fund and Miscellaneous Provision Act, 1952, all
eligible employees of the Company are entitled to receive benefits under the provident fund plan
in which both the employee and employer (at a determined rate) contribute monthly to
Employee's Provident Fund, a Fund set up by the Government. The contributions made by the
Company are recognised as an expense in the standalone statement of profit and loss under
"Employee benefits expense".
Gratuity Obligations
Post-retirement benefit plans such as gratuity for eligible employees of the Company are
calculated using projected unit credit method on the basis of actuarial valuation made by an
independent actuary as at the reporting date. Re-measurement, comprising actuarial gains and
losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets
(excluding net interest), is recognised in other comprehensive income in the period in which they
occur. Re-measurement recognised in other comprehensive income is included in retained
earnings and will not be reclassified to the standalone statement of profit and loss.
The present value of the defined benefit obligation is determined by discounting the estimated
future cash outflows by reference to market yields at the end of the reporting period on
government bonds that have terms approximating to the terms of the related obligation.
The net interest cost is calculated by applying the discount rate to the net balance of the defined
benefit obligation and the fair value of plan assets. This cost is included in employee benefit
expense in the standalone statement of profit and loss.
Changes in the present value of the defined benefit obligation resulting from plan amendments
or curtailments are recognised immediately in the standalone statement of profit and loss as past
service cost.
m) Revenue Recognition
The Company derives revenue primarily from sale of Denim Fabrics and rendering of job-work
service towards the same. Revenue is recognized upon transfer of control of promised products
or services to customers in an amount that reflects the consideration the Company expects to
receive in exchange for those products or services. Revenue excludes amounts collected on behalf
of government authorities such as Goods and Service Tax (GST), returns, trade allowances,
rebates and amounts collected on behalf of third parties. To recognize revenues, the Company
applies the following five step approach:
• Identify the contract with a customer,
• Identify the performance obligations in the contract,
• Determine the transaction price,
• Allocate the transaction price to the performance obligations in the contract, and
• Recognize revenues when a performance obligation is satisfied.
Sale of Goods
The Company recognizes revenue from sale of goods measured upon satisfaction of performance
obligation which is at a point in time when control of the goods is transferred to the customer,
generally on delivery of the goods. Depending on the terms of the contract, which differs from
contract to contract, the goods are sold on a reasonable credit term. As per the terms of the
contract, consideration that is variable, according to Ind AS 115, is estimated at contract inception
and updated thereafter at each reporting date or until crystallisation of the amount.
Revenue is measured based on the transaction price, which is the consideration, adjusted for
volume discounts, rebates, scheme allowances, price concessions, incentives, and returns, if any,
as specified in the contracts with the customers. Revenue excludes taxes collected from
customers on behalf of the government. Accruals for discounts/incentives and returns are
estimated (using the most likely method based on accumulated experience and underlying
schemes and agreements with customers). Due to the short nature of credit period given to
customers, there is no financing component in the contract.
Rendering of Service
Revenue from services rendered is recognised in the standalone statement of profit and loss as
the underlying services are performed. Upfront non-refundable payments received under these
arrangements are deferred and recognised as revenue over the expected period over which the
related services are expected to be performed.
n) Other Income
Interest Income
Interest income from a financial asset is recognised when it is probable that the economic
benefits will flow to the Company and the amount of income can be measured reliably. Interest
income is accrued on a time basis, by reference to the principal outstanding and at the effective
interest rate applicable, which is the rate that discounts estimated future cash receipts through
the expected life of the financial asset to that asset's net carrying amount on initial recognition.
Dividends
Dividend income from investments is recognised when the right to receive payment has been
established, provided that it is probable that the economic benefits will flow to the Company and
the amount of income can be measured reliably.
Other (Other than Interest and Dividend Income)
Other Income consists of rent income, insurance claim, vendor settlement income and
miscellaneous income and is recognised when it is probable that the economic benefits will flow
to the Company and amount of income can be measured reliably.
o) Finance Costs
General and specific borrowing costs that are attributable to the acquisition, construction or
production of a qualifying asset are capitalised as part of the cost of such asset till such time the
asset is ready for its intended use and borrowing cost are being incurred. A qualifying asset is an
asset that necessarily takes a substantial time to get ready for its intended use. All other
borrowing costs are recognised as an expense in the period they are incurred.
Borrowing cost includes interest expense, amortisation of discounts and ancillary costs incurred
in connection with borrowing of funds. Interest income earned on the temporary investment of
specific borrowings pending their expenditure on qualifying assets is deducted from the
borrowing costs eligible for capitalisation.
p) Depreciation and Amortization
Depreciation
Depreciation on property, plant and equipment (other than freehold land) is calculated on pro¬
rata on the straight line method based on the useful life of the assets as indicated under Part C of
Schedule II of the Companies Act, 2013 except for certain assets where management believes and
based on the technical evaluation and assessment that the useful lives adopted by it best
represent the period over which an asset is expected to be available for use.
Freehold land has an unlimited useful life and therefore is not depreciated.
Depreciation on additions is provided on a pro - rata basis from the month of installation or
acquisition and in case of projects from the date of commencement of commercial production.
Depreciation on deductions / disposals is provided on a pro-rata basis up to the month preceding
the month of deduction / disposals.
The residual values, useful lives and methods of depreciation of property, plant and equipment
are reviewed at each financial year end and, if expectations differ from previous estimates, the
changes are accounted for as a change in an accounting estimate and adjusted prospectively.
The estimated useful lives are as follows:
Amortisation
The Company amortises intangible assets with a finite useful life using the straight-line method
over the following useful lives:
The amortisation period and the amortisation method for intangible assets with a finite useful
life are reviewed at each reporting date and adjusted prospectively, if appropriate.
The amortisation expense on intangible assets with finite life is recognised in standalone
statement of profit and loss under the head depreciation, impairment and amortisation expense.
q) Impairment
Impairment of Financial Assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for
measurement and recognition of impairment loss on the following financial assets and credit risk
exposure:
• Financial assets that are measured at amortised cost
• Financial assets that are measured at FVTOCI
• Trade or other contractual receivables resulting from transactions that are within the scope
of Ind AS 115
The Company follows 'simplified approach' for recognition of impairment loss allowance on Trade
or other contractual receivables resulting from transactions that are within the scope of Ind AS
115. This approach doesn't require the Company to track changes in credit risk. Rather, it
recognises impairment loss allowance based on lifetime ECL at each reporting date, right from its
initial recognition.
The Company follows 'general approach' for recognition of impairment loss allowance, on other
financial assets, wherein the Company provides for 12-month ECL on 'Low Credit Risk' financial
assets and lifetime time ECL on 'Moderate Credit Risk' and 'High Credit Risk' financial assets.
If, in a subsequent period, credit quality of the financial asset improves such that there is no
longer a significant credit risk, then the entity reverts to recognising impairment loss allowance
based on 12-month ECL.
Lifetime ECL are the expected credit losses resulting from all possible default events over the
expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which
results from default events that are possible within 12 months after the reporting date.
ECL is the difference between all contractual cash flows that are due to the Company in
accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash
shortfalls), discounted at the original EIR. When estimating the cash flows, an entity is required
to consider:
• All contractual terms of the financial instrument (including prepayment, extension, call and
similar options) over the expected life of the financial instrument. However, in rare cases
when the expected life of the financial instrument cannot be estimated reliably, then the
entity is required to use the remaining contractual term of the financial instrument.
• Cash flows from the sale of collateral held or other credit enhancements that are integral to
the contractual terms.
• Financial assets measured as at amortised cost, contractual revenue receivables and lease
receivables: ECL is presented as an allowance, i.e., as an integral part of the measurement of
those assets in the balance sheet. The allowance reduces the net carrying amount. Until the
asset meets write-off criteria, the company does not reduce impairment allowance from the
gross carrying amount.
Impairment of Non-Financial Assets
The carrying amounts of the Company's non-financial assets, other than inventories and deferred
tax assets are reviewed at each reporting date to determine whether there is any indication of
impairment. If any indication exists, or when annual impairment testing for an asset is required,
the Company estimates the asset's recoverable amount. For goodwill and intangible assets that
have indefinite lives or that are not yet available for use, an impairment test is performed each
year at 31st March.
An asset's recoverable amount is the higher of an asset's or cash generating unit's (CGU) fair value
less costs of disposal and its 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 the risks specific to the asset or the cash¬
generating unit. In determining fair value less costs of disposal, recent market transactions are
taken into account. If no such transactions can be identified, an appropriate valuation model is
used. These calculations are corroborated by valuation multiples or other available fair value
indicators.
For the purpose of impairment testing, assets are grouped together into the smallest group of
assets that generate cash inflows from continuing use that are largely independent of the cash
inflows of other assets or groups of assets (the "cash-generating unit").
The goodwill acquired in a business combination is, for the purpose of impairment testing,
allocated to cash-generating units that are expected to benefit from the synergies of the
combination.
An impairment loss is recognised in the standalone statement of profit and loss if the estimated
recoverable amount of an asset or its cash-generating unit is lower than its carrying amount.
Impairment losses recognised in respect of cash-generating units are allocated first to reduce the
carrying amount of any goodwill allocated to the units and then to reduce the carrying amount
of the other assets in the unit on a pro-rata basis.
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment
losses recognised in prior periods are assessed at each reporting date for any indications that the
loss has decreased or no longer exists. An impairment loss is reversed if there has been a
favourable change in the estimates used to determine the recoverable amount. An impairment
loss is reversed only to the extent that the asset's carrying amount does not exceed its recoverable
amount, nor exceed the carrying amount that would have been determined, net of depreciation
or amortisation, if no impairment loss had been recognised.
Goodwill that forms part of the carrying amount of an investment in an associate is not recognised
separately and therefore is not tested for impairment separately. Instead, the entire amount of
the investment in an associate is tested for impairment as a single asset when there is objective
evidence that the investment in an associate may be impaired.
r) Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable
to equity shareholders by the weighted average number of equity shares outstanding during the
period. The average weighted average number of equity shares outstanding during the period
and for all periods presented is adjusted for events, such as bonus shares, other than the
conversion of potential equity shares that have changed the number of equity shares
outstanding, without a corresponding change in resources.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period
attributable to equity shareholders and the weighted average number of shares outstanding
during the period are adjusted for the effects of all dilutive potential equity shares.
s) Investment in subsidiary, associate and joint venture
The Company has opted for accounting its investment in subsidiaries, associates and joint
ventures at cost less impairment loss (if any), in accordance with Ind AS 27 - "Separate Financial
Statements".
t) Exceptional Items
An item of income or expense which by its size, type or incidence requires disclosure in order to
improve an understanding of the performance of the Company is treated as an exceptional item
and the same is disclosed in standalone statement of profit and loss and in the notes forming part
of the standalone financial statements.
A. Accounting classification and fair value measurement:
The fair value of financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a
forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values:
The carrying amount of trade receivable, trade payable, loans, cash and cash equivalents, other bank balances and other receivables as at 31st March, 2025 and 31st March, 2024
are considered to be the same as their fair values, due to their short-term nature. Financial Instruments with fixed and variable interest rates are evaluated by the Company based on
parameters such as interest rate and individual credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for the expected losses of these
receivables.
Fair value hierarchy
The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of following:
Level 1 - Category includes financial assets and liabilities, that are measured in whole or in significant part by reference to published quoted price (unadjusted) in an active market.
Level 2 - Category includes financial assets and liabilities measured using a valuation technique based on assumptions that are supported by prices from observable current market
transactions. These include assets and liabilities for which pricing is obtained via pricing services, but where prices have not been determined in an active market, financial assets with
fair values based on broker quotes and assets that are valued using the Company's own valuation models whereby the material assumptions are market observable. The majority of
Company's over-the-counter derivatives and several other instruments not traded in active markets fall within this category.
Level 3 - Category includes financial assets and liabilities measured using valuation techniques based on non market observable inputs. This means that fair values are determined in
whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they
based on available market data. However, the fair value measurement objective remains the same, that is, to estimate an exit price from the perspective of the Company. The main
asset classes in this category are unlisted equity investments as well as unlisted funds.
B. Financial risk management objectives and policies:
The Company's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The
Company's primary focus is to foresee the unpredictability of financial markets and seek to minimise potential adverse
effects on its financial performance.
The Company's financial liabilities comprise of trade payable and other liabilities to manage its operation and
financial assets include trade receivables, security deposits, loans and advances, etc, arises from its operation.
The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Company has implemented a robust Business Risk Management framework to identify,
evaluate business risks and opportunities. This framework seeks to create transparency, minimise adverse impact on
the business objectives and enhance the Company's competitive advantage. The business risk framework defines
the risk management approach across the enterprise at various levels including documentation and reporting. The
framework has different risk models which help in identifying risks trend, exposure and potential impact analysis at a
Company level.
The Audit Committee of the Board periodically reviews the risk management framework.
1) MARKET RISK:
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes
in market rates and prices. The Company's size and operations result in it being exposed to the following market risks
that arise from its use of financial instruments:
a) currency risk;
b) other price risk; and
c) interest rate risk
b) Credit loss assessment for trade receivables:
Customer credit risk is managed by the management subject to the Company's established policy, procedures and
control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive
credit review and individual credit limits are defined in accordance with this assessment. Outstanding customer
receivables are regularly monitored. At the year end the Company does not have any significant concentrations of
bad debt risk. An impairment analysis is performed at each reporting date on an individual basis for major clients. The
calculation is based on historical data. The Company does not hold collateral as security. The Company evaluates the
concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and
operate in largely independent markets.
3) LIQUIDITY RISK:
Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The
Company's approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due
without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions.
The Company maintained a cautious liquidity strategy, with a positive cash balance throughout the year ended 31st
March, 2025 and 31st March, 2024. Cash flow from operating activities provides the funds to service the financial
liabilities on a day-to-day basis. The Company regularly monitors the rolling forecasts to ensure it has sufficient cash
on an on-going basis to meet operational needs. Any short-term surplus cash generated, over and above the amount
required for working capital management and other operational requirements, is retained as cash and cash
equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other highly
marketable investments with appropriate maturities to optimise the cash returns on investments while ensuring
sufficient liquidity to meet its liabilities.
CAPITAL MANAGEMENT:
A. Risk management
Capital includes equity attributable to the equity holders to ensure that it maintains an efficient capital structure and
healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its
capital structure and makes adjustments to it, in light of changes in economic conditions or its business
requirements. To maintain or adjust the capital structure, the Company may adjust the dividend payment to
shareholders, return capital to shareholders or issue new shares. No changes were made in the objectives, policies
or processes during the year ended March 31,2025 and March 31,2024.
The Company monitors capital using a gearing ratio, which is net debt divided by total equity.
Net debt = Total borrowings (including lease liabilities) less (Cash and cash equivalents Bank balance other than
cash and cash equivalents (excluding balance earmarked for unclaimed dividend and other liabilities) Current
investments).
e. Figures pertaining to the previous years/period have been regrouped/rearranged, reclassified and restated wherever
considered necessary, to make them comparable with those of current year/period.
f. There are no subsequent events that occurred after the reporting date, that need to be adjusted in the financial statements.
g. The Company has a process whereby periodically all long-term contracts (including derivative contracts) are assessed for
material foreseeable losses. At the year end, the Company did not have any long-term contracts (including derivative
contracts) for which there were any material foreseeable losses.
The case of company stands pending before Customs Excise & Serivce Tax Appelate Tribunal for payment of customs
duty. The amount of customs duty involved is Rs 1,93,179/- which is contingent in nature.
The Appeal stands pending before Commissioner Appeals, GST for reversal of ITC received for disposing service of
effluent treatment and waste water treatment . The amount of ITC to be reversed involved is Rs ,43,66,118/- which is
contingent in nature.
The Appeal filed before Commissioner of Income Tax (Appeals) for for A.Y. 2016-17 has been settled and closed under
Vivad se Vishwas Scheme, 2024 . The effect of closure of appeal is still pending and tax demand is reflecting on Income
Tax Website.
The Appeal filed before Commissioner of Income Tax (Appeals) for for A.Y. 2018-19 has been settled and closed under
Vivad se Vishwas Scheme, 2024 . The effect of closure of appeal is still pending and tax demand is reflecting on Income
Tax Website.
Notes 36:
OTHER REGULATORY NOTES:
a. The Company does not have any benami property, where any proceeding has been initiated or pending against
the company for holding any Benami Property.
b. The Company does not have any transactions with companies struck off.
c. The Company has registered charges or satisfaction which are in the name of company with ROC within statutory
period.
d. The company have not traded or invest in Crypto currency or Virtual currency during the financial year.
e. The company have not advanced or given loan or invested fund (either borrowed fund or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with
the understanding that the Intermediary shall:
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the company (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
f. The company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding
party) with the understanding (whether recorded in writing or otherewise) that the company shall:
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
g. The company does not have any such tranasaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961 (such
as, search or survey or any other relevent provisions of the Income Tax Act, 1961)
h. The company has not been declared as Wilful defaulter by the Banks, Financial institution or other lenders.
i. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the
Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.
j. The Company does not has any immovable property (other than properties where the Company is the lessee and
the lease agreements are duly executed in favour of the lessee), whose title deeds are not held in the name of
company.
k. The Company does not has revalued its Property, Plant & Equipments (including Right-of-use Assets) and
intangible assets during the year.
l. The Company has not granted any loan or advances in nature of loans to directors, promoters, KMPs, and the
Related Parties during the year either jointly or severally whether repayable on demand or without specifying any
terms or period.
m. The Quarterly return or statements (Stock Statement) of current assets filed by the company with banks or
financial institutions are in agreement with the books of accounts.
As per our report of even date For and on behalf of the Board Of Directors
For RPR & Co. of R & B Denims Limited
Chartered Accountants
Rajkumar M. Borana Amit A. Dalmia
CA Raunaq Kankaria Director Managing Director
Partner DIN : 01091166 DIN : 00034642
M.No. 138361
FRN.131964W
Date : 15/05/2025 Parkin Jariwala Sujata Dudharejiya
Place: Surat Chief Financial Officer Company Secretary
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