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Teesta Agro Industries Ltd — Results, 30-05-2025: Result
TEESTA AGRO INDUSTRIES LIMITED
Swastik Vaimikee, 15t Floor, 5A, Valmikee Street, Kolkata 700 026, Phone : 2454 4331/ 2474 9983, Fax - +91 33 2474 6123 CIN
No. L24119WB1986PLC041245, Website: www.teestaagro.in, E-mail: teestaagro86@gmail.com / teestaagro92@gmail.com
Date: May 30, 2025
To
The General Manager
Department of Corporate Services
BSE Limited
Phiroze Jeejeebhoy Tower
Dalal Street,
Mumbai-400001
Sub: Submission of Audited Financial Results ( Standalone )for the 4th Quarter and Year ended 31st March,2025
along with Audit Report and Declarations.
Ref: Regulation 33 of SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 and Outcome
of Board Meeting held on Friday, 30th May'2025'
Scrip Code at BSE: 524204
Dear Sir/ Madam,
Pursuant to the Regulation 33 of Securities and Exchange Board of India ( Listing Obligations and Disclosure
Requirements ) Regulations, 2015, and with reference to our letter dated 22.05.2025, we would like to inform
you that the Board of Directors of the Company in its meeting held today i.e. Friday the 30th May,2025 at the
Corporate Office of the Company, have approved the Audited Financial Results for the quarter and year ended
on 31st March, 2025,
In this connection , we are enclosed herewith the following : ~
a) Statement of Audited Financial Results for the quarter and year ended 31.03.2025
b) Statutory Auditors Report.
¢) Declaration under Regulation 33(3)(d) of SEBI LODR, 2015.
d) Details of Outstanding Qualified Borrowings for the financial year ended 31st March, 2025.
The said results will be duly published in the newspapers as required under Regulation 47 of the SEBI ( Listing
Obligations and Disclosure Requirements) 2015. The Financial Results will be uploaded on the weblink
www.teestaagro.in. .
The Meeting commenced at 11.00 a.m. and concluded at 1.30 p.m
Kindly take note of the above on record
Thanking you,
2 HAJJDEVSINGH
| WANAGING DIRECTOR
’%N NO- 00550781
Sector B’ Pocket 5 & 6, Flat No. 4173, Basantkurj, New Delhi 110 070, Phone : (011) 2689 0556 / 2689 1267
Regd. Office & Plant : MAZABARI, P.O. : RAJGANJ, Dist : JALPAIGURI, W.B., Pin code : 735 134, Ph: (03561) 254 203/254 150/254 230,
Kamrangaguri, Opposite : Uttar Kanya PO. Satelite Township , Siliguri - 734015, E-mail : teestaagro92@gmail.com
----------------Page (0) Break----------------
TEESTA AGRO INDUSTRIES LIMITED
Swastik Vaimikee, 151 Floor, 5A. Valmikee Streel, Kolkata 700 026, Phone - 2454 4331/ 2474 9985, Fax - +91 13 2474 517 CIN No. L24119WB1986PLC041245, Website: www teestaagro.in, E-mail: teestaagro86@gmail.com / teestaagro92éggmail com
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2025
_(Rs.inLac)_ —— s ;‘ Particulars Quarter Ended
31032025 | 31.42.2024 31.03.2024 1 b & (Audited) | (Unaudited) | (Audited ) 2l
| 1'Revenue From Operations | | Sale of Productss Income from 3944 6488 795 |
| Oerations | !
| Other Operating Revenues | | Totalincome e L
2. Expenses Cast of Materials consumed
1563 | Changes in lnventories of Finished
| Goods, WIP and Stock in Trade 284 i
Employee Cost 150 i Finance Cost 30
i | Depreciation and Amortization 17 |
| Expenses | Omer Expenses 1260
494 1140 2758 [ Total Expenses 3464 6252 33317895
[ 3 Profit Before Tax 537 245 308 343 4 Tax Expenses
1 Current Tax 152 57 28 240 | 85 !
Deferred tax 24 - 61 24 | 61 | | 5. Profit for the Period
66 188 219 679 361 j [ 6. Other Comprehensive Income
tems that ill ot be reclassified to 3 Profit & Loss - P B = £
Re measurement of the defined benefit plans. 4 2 3 i
Equity Instruments through other comprehensive income E ’
Tax Relating tems that will not be reclassified to Proft & Loss - - i %
7 Total Comprehensive income for the 66 88 219 678 —
enod i [ & Pad up Equity Share Capital ( Rs 10~ 561 561 561 561 I 561
_each) G Earnung Per Equiy Share T T
(3) Basic 298 338 390 1220 i 649 (b) _Diuted 298 338 390
1220 | 649
Teesta Agro In es Ltd.
-\
Seclor B’ Pockel 5 & 6, Flat No 4173, Basantkun, New Dalni 110 070, Phone : (011) 2689 0556 / 2689 1267
Regd. Office & Piant MAZABARI, P.O. ; RAJGANY, Dist . JALPAIGURI, W.B., Pin code : 735 134, Ph (03561) 254 203,254 154254 230,
Kamrangaguri, Oppostte : Uttar Kanya PO. Satelite Township , slqun - 734015, E-mail : teestaagro92@gmail.com
----------------Page (1) Break----------------
Balance Sheet as at 31st March, 2025
(Rs. in Lakh) Particulars
Note | As at 31st March, As at 31st March, 1, Assets
No 2025 2024 (1) Non-current assets
(a) Property, plant and equipment and Intangible assets
(i) Property, plant and equipment 3 6214 6282
(ii) Intangible assets 0 0
(ii) Capital work-in-progress 49 28
(6) Non-currert investments 4 58 58
(c) Long term loans and advances 5 25 40
(d) Other non-current assets 6 205 145
(e) Inter branch balances 0 0
(2) Current assets
(a) Inventories f 5/87 6028
(0) Trade receivables 8 3067 2357
(c) Cash and cash equivalents 9 2558 1000
(d) Short-term loans and advances 5 1343 1494
(e) Short-term Investments 4 0 0
(f) Other current assets 10 16 9
Total 19322 17442
I]. EQUITY AND LIABILITIES
(1) Shareholder's Funds
(a) Share Capital 41), 557 557
(9) Reserves and Surplus 12 11198 10521
(2) Non-Current Liabilities
(a) Long-term borrowings 48 247 434
(b) Deferred tax liabilities (Net) 368 346!
(c) Long term provisions 14 34 22
(3) Current Liabilities
(a) Short-term borrowings 1829 879
(b) Trade payables 4325 4162
(c) Other current liabilities 7 749 504
(d) Short-term provisions 14 18 20
Total 19322 17442
0.00 a)
Corporate Information 1
Significant accounting policies & other explanatory notes 2
| statements. The Notes referred to above are an integral part of thesfaRer
ted c
For and on behalf of
MANTRY & ASSOCIATES i
Chartered Accountants we Firm Registration No.315048E verre
W\ CON ast RA ota
CA, MANJAR] MANTRY
Partner
Membership Na. 307960
Siliguri, 30th May, 2025
‘|Hardey Singh
or and on behalf of theBoard of Directors
{ Teesta Agro Industries Limited _
ty, ie is of wets ee ae
™ need ; as
Managing Director
Paramdeep Singh be { 4}
Director :
Abhinav Kumar Panch benow C2.
Company Secretary a
----------------Page (2) Break----------------
~ Statement of Profit and Loss for the year ended 31st March, 2025
(Rs. in Lakh)
For the year For the year
Particulars Note No ended 31st ended 31st
March, 2025 March, 2024
|. Revenue from operations 18 18771 16318
Il. Other Income 19 67 155
lil. Total Income (I +11) 18838 16473
IV. Expenses:
Cost of raw materials consumed 20 12891 11832
Changes in inventories of finished goods, work-in-progress and Stock-
in-Trade 21 461 183
Packing materials & Stores consumed 22 461 530
Employee benefits expense 23 947 968
Financial costs 24 88 104
Depreciation and amortization expense 288 246
Other expenses 25 2758 2406
Total Expenses 17895 1596
V. Profit before exceptional & extraordinary items and tax (II-IV) 943 507
VI. Exceptional Items 26 0 0
VII. Profit before tax (V+VI1) 943 507
Vill. Tax expense: ‘
(1) Current tax -241 -85
(2) Deferred tax > ~24 -51
(3) Earlier year tax 0 0
Profit(Loss) from the perid from continuing operations 679 361
|X. Appropriation Items 0 0
X, Profit(Loss) for the year c/f to Balance Sheet 679 361
XI. Basic & Diluted Earning per equity share:
(1) Before Exceptional items 12.20 6.49
(2) After Exceptional items 12.20 6.49
Corporate Information a
Significant accounting policies & other explanatory notes 2
The Notes referred to above are an integral part of the fin nents.
For and on behalf of
MANTRY & ASSOCIATES
Chartered Accountants
Firm Registration No,315048E
Manjank Ni ettin
CA. MANJARI MANTRY
Partner
Membership No. 307960
Siliguri, 30th May, 2025
_ a f" lHardev Singh "Nk,
Managing Director ~-~~—--_
rete
Abhinav Kumar Pah h exoe Co“ |
Director
Paramdeep Singh
6 |For and on behaltof the Board of Directors —_|
of Teesta Agro Indust _
Company Secretary
----------------Page (3) Break----------------
Property,
pla
nt
and
equipment
and
Intangible
assets
3.
Property,
plant
and
equipment
( Rs.
in
Lakh)
GR
OS
S
BLOCK
DEPRECIATION
NE
T
BL
OC
K
Original
Add
iti
ons
|Sa
le/
Adj
.
{Original
Depreciation
|For
th
e
|Sale/Adj.
Dep
rec
iat
ion
[As
At
31st
|As
At
31st
Cos
t
as
on
|Du
rin
g
During
|Costason
|upto
yea
r
Dur
ing
upt
o
Ma
rc
h,
20
25
|March,2024
Description
31.03.2024
|the
year
|the
year
[31.03.2025
|31
.03
.20
24
the
year
|31.03.2025
A.
SIL
IGU
RI,
W.B.
Lan
d
(Freehold)
634
0
0
634
0
0
0
0
634
634
Buildings
2285
0
0
228
5
100
8
44
0
1053
123
3
127
7
Plant
&
Mac
hin
ery
235
5
80
0
243
5
150
6
48
0
1554
881
849
Electrical
Installation
147
@)
0
147
143
0
0
143
4
4
Fur
nit
ure
&
Fix
tur
e
79
0
Oo}
”
79
72
1
0
73
6
7
Office
Eq
ui
pm
en
t
37
0
0
ot
34
1
0
34
3
3
Tra
cto
r
11
0
0
14
5
fl
0
7
4
6
Veh
icl
es
355
0
0
355
178]
’
27
0
205
150
177
B.
MOHALI,
PU
NJ
AB
;
Lan
d
(Fr
eeh
old
)
137
8
0
0
137
8
0
0
0
0
137
8
137
8
Bui
ldi
ngs
178
0
0
178
32
3
0
35
144
147
Plant
&
Mac
hin
ery
71
0
0
71
60
6
0
66
)
11
Electrical
Installation
92
0
0
92
87
0
0
87
5
5
Fur
nit
ure
&
Fix
tur
e
13
0
0
13
12
0
0
12
1
1
Office
Eq
ui
pm
en
ts
12
0
0
12
a
0
0
11
4
1
C.
CH
IT
TO
RG
AR
H,
RAJ
.
Lan
d
:
87
0
0
87
0
0)
0
Oy
87
87
Bui
ldi
ng
111
9
7
0
1126
225
36
0
260
866
894
Pla
nt
&
Mac
hin
ery
128
9
85
0
137
4
618
84
0
703
672
671
Lab
Equipment
9
0
0
9
7
1
0
8
1
2
Pollution
Con
tro
l
Equ
ip
2
6
0
8
0
1
)
1
7
2
Furniture
&
Fix
tur
e
20
1
0
20
11
2
0
13
7
9
Office
Eq
ui
pm
en
ts
0
0
0
0
0
0
0
0
0
0
Oth
er
Eq
ui
pm
en
ts
2
0
0
2
2
0
0
2
0
0
Computer
10
4
0
10
7
2;
0
10
1
2
Veh
icl
es
-
0
0
0
0
0
0)
0
0
0
0
Motor
cycle
&
Car
204
52
19
237
86
32
6
112
126
At
Total
103
88
232
19
10601
4106
288
6
4388
621
4
6282
Pre
vio
us
Year
9880
610
103
10388
3860
266
20
4106
628
2
----------------Page (4) Break----------------
4.
10.
Investments Non-current Investments Current Investments
31.3.2025 31.3.2024 31.3:2025 31.3.2024
Shares of Indian Bank 38 38 0 (|
SBI Mid Cap Fund 20 20 0 of
NSC with Rajasthan Commercial Taxes 0 0 0 0
58 58 0 0
Loans and Advances Long Term Short term
31.3.2025 31.3.2024 31.3.2025 31.3.2024
Other advances 0 3 1294 1447
Advance paid to Gratuity Fund 0 0 1 0
TDS & Advance Income Tax 25 37 48 47
25 40 1343 1494
Other non- current Assets 31.3.2025 31.3.2024
Deposit with Government Authorities 168 136
Other Deposits . 37 10
205 145
Inventories
Raw materials : 2883 2546
Raw materials in Transit 0. 0
Traded Goods 0 32
Finished goods 2578 3007
Consumable Stores 325 443
. 5787 6028
Trade receivables
Unsecured , Considered good
Not Due 480 219
Outstanding for a period:
Less than 6 months 2262 1687
6 months- 1 year 141 62
1-2 years 87 282
2 - 3 years 82 55:
more than 3 years 15 52
3067 2357
Cash and cash equivalents :
Balances with Banks 2495 995
Cash in hand 63 5
2558 1000 Balances
with banks include FD with bank held as margin money Rs.18, Previous year Rs.170.
Other Current Assets
Interest accrued on NSC and FD 16
----------------Page (5) Break----------------
11.
11.1
112
a)
b)
11.3
11.4
11.5
12.
Share Capital
Authorised Par Value 31.3.2025 31.3.2024
80,00,000 Equity Shares Rs.10 each 800.00 800.00
20,00,000, 8% Cumulative Preference Shares Rs.10 each 200.00 200.00
1000.00 1000.00
Issued, Subscribed & Paid up
56,10,000 Equity Shares 'Rs.10 each 561.00 561.00
Less; Allotment money in arrear 4.00 4.00
657.00: 557.00
Terms,Rights, Preferences & Restrictions attached to Shares
The company presently has only one class of equity shares having a par value of Rs.10/- per share. Each share hi
The company has not allotted any equity shares for consideration other than cash, bonus shares, nor have any sh
Reconciliation of Shares outstanding at the beginning and at the end of the reporting period
31st March,2025 31st March,2024
Equity Shares of Rs.10/- each Number “Rs. in Lakh Number ‘Rs. in Lakh
At the beginning of the period 5610000.00 561.00 5610000.00 561.00
Issued and alloted during the period ; 0.00 0.00 0.00 0.00
Outstanding at the end of the period should be 5610000.00 561.00 5610000.00 561.00
Allotment money in arrear 44930.00 4.00 44930.00 4.00
Outstanding at the end of the period actually is 5565070.00 557.00 5565070.00 557.00
Details of shareholders holding more than 5% shares in the company
31st March,2025 31st March,2024
Equity shares of Rs.10 each fully paid up © Number % of Holding Number % of Holding
Hardev Singh 1592190.00 28.38 1613890.00 28.77
Joginder Kaur 587600.00 10.47 587600.00 10.47
Shareholding of Promoters as at 31st March, 2025 °
Shares held by Promoters at the end of the year
% of total % change
S.No. - Promoter Name No. of Shares shares during the year
1 - Hardev Singh 1592190.00 28.38 0.00
2 - Joginder Kaur 587600.00 10.47 0.00
3 - Paramdeep Singh 155100.00 2.76 0.00
4 - Inderdeep Singh 149000.00 2.66 0.00
As per records of the company, including its register of shareholders/nembers and other declarations received
from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial
ownerships of shares.
Reserves and Surplus 31.3.2025 31.3.2024
a) Capital Reserve
Balance as per last financial statements 2537 2537
Add: Output VAT Remission 0 9)
Closing balance 2537 2587
b) Capital Redemption Reserve
Balance as per last financial statements 111 111
c) Share Premium Account
Balance as per last financial statements
Add: Premium on issue of Equity shares
Closing balance
----------------Page (6) Break----------------
13.
14.
15.
16.
d) General Reseve 31.3.2025 31.3.2024
Balance as per last financial statements 10 10
Add:amount transferred from surplus balance in the statement of profit and loss 0 0
Closing balance 10 10
e) Profit & Loss Account
Balance as per last financial statements 7815 7454
Profit for the year . 679 361
Less: Appropriations
Dividend paid 0 0
Dividend distribution tax 0 0
Dividend/Dividend Tax of earlier Year 0 0
Transfer to general reserve 0 0
Closing balance 8494 7815
Total 11198 10521
Long Term Borrowings Non-current portion Current maturities
31.3.2025 31.3.2024 31.3.2025 31.3.2024
Secured :
Term Loan from HDFC Bank 216 310 86 86
Unsecured
From Directors 0 0 0 0
From Others ai 122 35 38
247 431 121 123
Note: Current maturities is a part of Current liabilities.
Provisions Long term Short term
31.3.2025 31.3.2024 31.3.2025 31.3.2024
Provision for employee benefits
Leave Encashment 14 8 8 8
Gratuity 0 4 ) 4
Other Provisions 17 10 10 8
Proposed Dividend 0 0 0 0
Tax on Proposed Dividend 0 ) 0
0 ) 0 0
Total provisions 31 22 18 20
Short Term Borrowings 31.3.2025 31.3.2024
Secured Loan From Bank 1708 756
Others 0 0
Closing balance 1708 756
Secured loans are for working capital from consortium of Banks, and are secured by joint hypothecation charge
on inventory, current book debts and other current assets besides first equitable/nypothecation charge over
immovable/ movable fixed assets of the company at Rajganj, Gangrar (Chittorgarh) and personal guarantees of
two of the directors of the company. ;
Trade Payables 31.3.2025 31.3.2024
Not Due 1163 1291
Less than 1 year 1315 573
1-2 year 966 1138
2 - 3 years 881 1159
More than 3 years 0
4162
----------------Page (7) Break----------------
TT.
18.
19.
20.
21,
22.
23.
24.
Other Current Liabilities & Provisions
Creditors-Capital Assets
Current Maturities of LT Borrowings
Employees Dues
Other Liabilities
Customers Dues
Revenue from operations
Sales
Govt. Subsidy
Other Income
Interest recd. from Bank
Dividend Recd.
Short Term Capital Gain
Long Term Capital Gain
Rent, Leave & License Fee
Forein Exchange Fluctuation Gain
Sundry receipt (net)
Interest from Income Tax Refund
Profit on sale of Fixed Assets
Cost of materials consumed
Opening Stock
Purchase
Freight Inward
Less: Closing Stock
Change in Inventories
Finished Goods
Opening Stock
Less: Closing Stock
Add/(Less): Valuation in excise duty on
Stock of finished Goods
Packing materials & Stores consumed
Employee benefit expense
Salaries, Wages and Bonus
Contribution to PF and Gratuity Fund
Welfare Expenses
Finance Cost
Interest to Banks
Others
31.3.2025 31:3.2024
49 46
46 0
56 54
129 131
468 272
749 504
31.3.2025 31.3.2024
Rs. inLakh . Rs. in Lakh Rs. in Lakh Rs. in Lakh
41722 9761
7050 18771 6557 16318
36 28
1 1
0 15
0 15
0 0
11 0
7 5
10 18
2 67 72 155
2655 3347
12171 9748
948 1092
16774 14187
2883 12891 2655 11632
3039 3222
2578 3039
461 183
0 461 0 183
461 461 530 530
863, 895
29 35
55 947 38 968
75 76
13 88 20 101
----------------Page (8) Break----------------
25.
26.
Other expenses
Insurance
Rent
Rates & Taxes
Power & Fuel
Other Manufacturing Expenses
Repairs and Maintenance :
Buildings
Plant and Machinery
Others
Marketing/publicity
Dealers Margin
Carriage Outward
Service Tax Paid
Professional & Audit Fees
Bank Charges
Travelling Expenses
Office Maintenance Expenses
Watch & Ward Expenses
Miscellaneous Expenses
CSR Expenses
Loss on Sale of Fixed Assets
Exceptional Items
18
23
16
436
327
32
179
60
279
982
29
183
92
56
16
2758
16
25
42
438
203
49
199
92
199
786
43
18
161
67
441
37
15
0 2406
----------------Page (9) Break----------------
27. Previous year's figures have been regruoped/recasted wherever necessary.
As per our report of even date
For and on behalf of
MANTRY & ASSOCIATES
Chartered Accountants
Firm Registration No.315048E
Monjost Moons
CA. MANJARI MANTRY
Partner
Membership No. 307960
Siliguri, 30th May, 2025
For and on behalf of the Board of Directors
of Teesta Agro inact, alte
Hardev Singh Pine \ - . ‘ ( of =
Managing Director ; = we
; Paramdeep Singh . Director
Qu, al
Abhinav Kumar Pandey
Company Secretary Ab Livisn Zor M4
Siliguri, 30th May, 2025
----------------Page (10) Break----------------
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2025
(Rs.in Lakh)
For the For the
year ended year ended
31.3.2025 31.3.2024
Cash Flow from Operating Activities :
Net profit/(loss) before tax and
Extraordinary Items 943 507
Adjusted for :
Depreciation 288 246
Interest Received (Net) 52 73
Dividend Income -1 -1
Short Term Capital Gain 0 -15
Long Term Capital Gain 0. -15
Rent, Leave & License Fee Receipt 0 . 0
Loss/(Profit) on Sale of Assets -2 338 -72 216
Operating Profit before changes
in Working Capital: 1281 123
Adjustments for :
Trade and other receivables -611 618
Inventories 241 808
Trade Payable 416 46 -1409 17
Cash Generated from Operations 1327 740
Interest Paid -88 -101
Direct Taxes Paid -241 -329 -85 -186
Net Cash from operating activities 998 554
Cash Flow from Investing Activities
Addition to Property, plant and equipment -247 -555
Sale Proceeds of Property, plant and equipment 6 155
Interest Received 36 28
Short Term Capital Gain 0 15
Long Term Capital Gain 0 15
Rent, Leave & License Fee Receipt 0 0
Dividend Received 1 1
Net Cash used in Investing Activities -204 -341
Carried Forward 794 213
----------------Page (11) Break----------------
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH. 2025
(Rs.in Lakh)
For the For the
year ended year ended
31.3.2025 31.3,2024
Brought Forward 794 213
C. Cash Flow from Financing Activities :
Proceeds from Share Issue 0 )
Increase/(Decrease) in CC, Loan & Vehicle Loan 765 ~1257
Dividend Paid 0 0
Tax on Dividend 0 0
Inter Branch Balances 0 0
Proceeds from Investments 0 800
Net cash used in Financing Activities 765 -457
Net increase in Cash and Cash Equivalent
(At+tB+C) 1559 -244
Cash and Cash Equivalent (Opening Balance) 1000 1245
Cash and Cash Equivalent (Closing Balance) 2059 1559 1000 -244
For and on behalf of Board of Directors
of Teesta Agro Industries Limited
AS tut aa nese Cott
Hardev Singh Paramdeep Singh = Abhinav Kumar Pandey
30th May, 2025 Managing Director Director Company Secretary
Siliguri,
Auditors' Certificate
The above Cash Flow Statement has been compiled from and is based on the audited accounts of Teesta
Agro Industries Limited for the year ended 31st March, 2025 reported by us on 30th May, 2025. According to
the information and explanations given the aforesaid Cash Flow Statement has been prepared pursuant to
clause 32 of the Listing Agreement with Stock Exchanges and the reallocation required for the purpose are as
made by the Company.
For and on behalf of
MANTRY & ASSOCIATES
Chartered Accountants
Firm Registration No.315048E
© ; CA. MANJARI MANTRY Siliguri,
Partner
Date: 30th May, 2025 Membership No. 307960
----------------Page (12) Break----------------
MantTy & flssocmtes/l Mobile : 94340 49438 _
25/2, Electricity Sector Office Road, Milanpally, Siliguri - 734005,
Dist. Darjeeling Chantened fecountants E-mail - mantry associates@yahoo co.n
INDEPENDENT AUDITOR'S REPORT
To the Members of Teesta Agro Industries Limited
REPORT ON THE AUDIT OF THE IND AS FINANCIAL STATEMENTS
OPINION
We have audited the accompanying Ind AS Financial Statements of Teesta Agro Industries
Limited (‘the Company”), which comprise the Balance sheet as at March 31, 2025, the
Statement of Profit and Loss, the Cash Flow Statement 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 Ind AS Financial Statements give the information required by the
Companies Act,2013, as amended (‘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 March 31, 2025, its profit including other comprehensive
income, its cash flows and the changes in equity for the year ended on that date.
BASIS FOR OPINION
We conducted our audit of the Ind AS Financial Statements in accordance with the
Standards on Auditing (SAs), as specified under section 143(10) of the Act. Our
responsibilities under those Standards are further described in the ‘Auditor's Responsibilities
for the Audit of the Ind AS 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 together with the ethical requirements that are relevant to our audit of
the financial statements under the provisions of the Act and the Rules there under, 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.
KEY AUDIT MATTERS
Key audit matters are those matters that, in our professional judgment, were of most
significance In our audit of the Ind AS Financial Statements for the financial year ended
March 31, 2025. These matters were addressed in the context of our audit of the Ind AS
Financial Statements as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters. For each matter below, our description of how our audit
addressed the matter is provided in that context.
We have determined the matters described below to be the key audit matters to be
communicated in our report. We have fulfilled the responsibilities described in the Auditor's
responsibilities for the audit of the Ind AS Financial Statements section of our report,
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W—'
including in relation to these matters. Accordingly, our audit included the performance of
procedures designed to respond to our assessment of the risks of material misstatement of
the Ind AS Financial Statements. The results of our audit procedures, including the
procedures performed to address the matters below, provide the basis for our audit opinion
on the accompanying Ind AS Financial Statements.
Revenue Recognition
The key audit matter How the matter was addressed in our audit
Revenue from sale of goods is
recognised when control of the
products being sold is transferred to
the customer and when there are no
longer any unfulfilled obligations. The
performance obligations in the
contracts are fulfiled at the time of
dispatch, delivery or upon formal
customer acceptance depending on
customer terms.
Our audit procedures included:
« We assessed the appropriateness of the revenue
recognition accounting policies, including those
relating to rebates and discounts by comparing with
applicable accounting standards.
* We tested the design, implementation and
operating effectiveness of management's general
IT controls and key application controls over the
Company's IT systems which govern revenue
recognition.
+ We tested the design, implementation and
operating effectiveness of controls over the
calculation of discounts and rebates.
Provisions for taxation, litigation and other significant provisions
The key audit matter How the matter was addressed in our audit
Accrual for tax and other | Our audit procedures included:
contingencies requires the
Management to make judgements and
estimates in relation to the issues and
exposures arising from a range of
matters relating to direct tax, indirect
tax, claims, general legal proceedings,
environmental issues and other
eventualities arising in the regular
course of business.
The key judgement lies in the
estimation of provisions where they
may differ from the future obligations.
By nature, provision is difficult to
estimate and includes many variables.
Additionally, depending on timing,
there is a risk that costs could be
provided inappropriately that are not
yet committed.
* We tested the effectiveness of controls around the
recognition of provisions. * We used our subject matter experts to assess the
value of material provisions in light of the nature of
the exposures, applicable regulations and related
correspondence with the authorities.
+ We discussed the assumptions and critical
judgements made by management which impacted
their estimate of the provisions required,
considering judgements previously made by the
authorities in the relevant jurisdictions or any
relevant opinions given by the Company's advisors
and assessing whether there was an indication of
management bias.
* We discussed the status in respect of significant
provisions with the Company's internal tax and
legal team.
* We performed retrospective review of
management judgements relating to accounting
estimate included in the financial statement of prior
year and compared with the outcome.
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Assessment of contingent liabilities relating to litigations and claims
The key audit matter
The Company is periodically subject
to challenges/scrutiny on range of
matters relating to direct tax, indirect
tax.
Assessment of contingent liabilities
disclosure requires Management to
make judgements and estimates in
relation to the issues and exposures.
Whether the liability is inherently
uncertain, the amounts involved are
potentially significant and the
application of accounting standards to
determine the amount, if any, to be
provided as liability, is inherently
subjective.
How the matter was addressed in our audit
Our audit procedures included:
* We tested the effectiveness of controls around the
recording and re-assessment of contingent
liabilities.
* We used our subject matter experts to assess the
value of material contingent liabilities in light of the
nature of exposures, applicable regulations and
related correspondence with the authorities.
* We discussed the status and potential exposures
in respect of significant litigation and claims with the
Company'’s internal legal team including their views
on the likely outcome of each litigation and claim
and the magnitude of potential exposure and
sighted any relevant opinions given by the
Company'’s advisors.
+ We assessed the adequacy of disclosures made.
* We discussed the status in respect of significant
provisions with the Company’s internal tax and
legal team.
+ We performed review of management judgements
relating to accounting estimate included in the
financial statement of prior year and compared with
the outcome.
INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITOR’S
REPORT THEREON
The Company’s Board of Directors is responsible for the other information. The other
information comprises the information included in the Annual report, but does not include the
Ind AS Financial Statements and our auditors’ report thereon.
Our opinion on the Ind AS 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 Ind AS Financial Statements, our responsibility is to read
the other information and, in doing so, consider whether such other information is materially
inconsistent with the financial statements or our knowledge obtained in the 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.
Management’s Responsibility for the Ind AS Financial Statements
The Company's Board of Directors is responsible for the matters stated in Section 134(5) of
the Companies Act, 2013 (‘the Act’) with respect to the preparation of these Ind AS financial
statements that give a true and fair view of the financial position, financial performance and
cash flows of the Company in accordance with the accounting principles generally accepted
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in India, including the Accounting Standards (Ind AS) prescribed 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 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 the Ind AS financial statements that give a
true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Ind AS 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 concem 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 is also responsible for overseeing the Company’s financial reporting
process.
Auditor’s Responsibility for the Audit of Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the Ind AS 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 can arise from
fraud or eror 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 Ind AS 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 Ind AS 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 a 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 control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the
Act, we are also responsible for expressing our opinion on whether the company has
adequate internal financial controls with reference to financial statements 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.
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+ Conclude on the appropriateness of management's use of the going concern basis of
accounting in preparation of Ind AS financial statements and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the appropriateness of this assumption. If
we conclude that a material uncertainty exists, we are required to draw attention in our
auditor's report to the related disclosures in the Ind AS financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events
or conditions may cause the Company to cease to continue as a going concern.
* Evaluate the overall presentation, structure and content of the Ind AS financial
statements, including the disclosures, and whether the Ind AS financial statements
represent the underlying transactions and events in a manner that achieves fair
presentation.
* Obtain sufficient appropriate audit evidence regarding the financial information of such
entities or business activities within the company to express an opinion on the Ind AS
financial statements, of which we are the independent auditors. We are responsible for
the direction, supervision and performance of the audit of financial information of such
entities. For the other entity included in the Ind AS financial statements, which have
been audited by other auditor, such other auditor remains responsible for the direction,
supervision and performance of the audit carried out by them. We remain solely
responsible for our audit opinion. Our responsibilities in this regard are further
described in the section titled ‘Other Matters’ in this audit report.
Materiality is the magnitude of misstatements in the Ind AS Financial Statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the financial statements may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating
the results of our work; and (ii) to evaluate the effect of any identified misstatements in the
financial statements.
We believe that the audit evidence obtained by us along with the consideration of audit
report of the other auditor referred to in the Other Matters paragraph below, is sufficient and
appropriate to provide a basis for our audit opinion on the Ind AS financial statements.
We communicate with those charged with governance of the Company and such other
entities included in the Ind AS financial statements of which we are the independent auditors
regarding, among other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in intemal 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.
We also performed procedures in accordance with the circular issued by the SEBI under
Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
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From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the Ind AS financial statements of the
current period and are therefore the key audit matters. We describe these matters in our
auditor's report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
Other Matters
We did not audit the financial statements of Chittorgarh Unit whose financial statements
reflect total assets of Rs. 65.23 crores as at 31 March 2025, total revenues of Rs. 96.53
crores for the year ended on that date, as considered in the Ind AS financial statements.
These financial statements have been audited by other auditor whose report has been
fumished to us by the Management and our opinion on the Ind AS financial statements, in so
far as it relates to the amounts and disclosures included in respect of this unit, and our report
in terms of section 143(3) of the Act, in so far as it relates to the aforesaid unit is based
solely on the audit report of the other auditor.
Our opinion on the Ind AS financial statements, and our report on Other Legal and
Regulatory Requirements below, is not modified in respect of the above matter with respect
to our reliance on the work done and the report of the other auditor.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2020 (“the Order”), issued by
the Central Government in terms of section 143(11) of the Act, and on the basis of such
checks of the books and records of the company as we considered appropriate and
according to the information and explanations given to us, we give in “Annexure A” a
statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by section 143 (3) of the Act, we report that:
a. we have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purpose of our audit;
b. 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;
c. 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
d. in our opinion, the aforesaid Ind AS financlal statements comply with the Accounting
Standards specified under section 133 of the Act.
----------------Page (18) Break----------------
On the basis of written representations received from the directors as on March 31,
2025 taken on record by the Board of Directors, none of the directors is disqualified
as on March 31, 2025 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 contrals, 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 the requirements of section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations
given to us, the remuneration paid by the company to its directors in accordance with
the provisions of Section 197 of the Act.
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 the best of our information and according to the explanations given to us:
The Company does not have any pending litigations which would impact its
financial position;
The Company has made provision, as required under the applicable law or
accounting standards, for material foreseeable losses, if any, on long-term
contracts including derivative contracts; and
There were no amounts which are required to be transferred to the Investor
Education and Protection Fund by the Company.
(a) The Management has represented that, to the best of its knowledge and belief,
no funds (which are material either individually or in the aggregate) have been
advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other person or
entity, including foreign entity (“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 Company (“Ultimate Beneficiaries™) or provide
any guarantee, security or the like on behalf of the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best of its knowledge and
belief, no funds (which are material either individually or in the aggregate) have
been received by the Company from any person or entity, including foreign entity
(“Funding Parties”), with the understanding, whether recorded in writing or
otherwise, that the Company shall, whether, 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 provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries;
----------------Page (19) Break----------------
(c) Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances, nothing has come to our notice that has caused
us to believe that the representations under sub-clause (i) and (ii) of Rule 11 (e),
as provided under (a) and (b) above, contain any material misstatement;
v. The company has not proposed or declared any dividend during the year. Hence this
clause is not applicable.
Vi Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of
account using accounting software which has a feature of recording audit trail (edit log)
facility is applicable to the Company. Based on our examination which included test
checks, the Company has used an accounting software for maintaining its books of
account which has a feature of recording audit trail (edit log) facility and the same has
operated throughout the year for all relevant transactions recorded in the software.
Further, during the course of our audit we did not come across any instance of audit
trail feature being tampered with.
Table showing the accounting software used by the Company
Name of Records : i
the maintained | Hosting ma':zzas':e; Di'a Operating ‘:;:ln
Accounting | (Books of | Location System Software | Account) Outsourced | Base enabled
Journal
Ayl Ieer:;fiee: :lr:g dg?aquir InHouse | Tall Windows Yes Edit Log gineral / Accounts 4
ledgers department
For Mantry & Associates
Chartered Accountants
(Registration No. 315048E)
CA. Manjari Mantry
Partner
Membership No. 307960
UDIN: 25307960BMOBGF2053
Place: Siliguri
Date: 30/05/2025
----------------Page (20) Break----------------
I e
ANNEXURE A TO THE INDEPENDENT AUDITORS’ REPORT
(Referred to in paragraph 1 under the heading ‘Report on Other Legal and Regulatory
Requirements’ section of our report of even date)
To the best of our information and according to the explanations provided to us by the
Company and the books of account and records examined by us in the normal course of
audit, we state that:
(i) In respect of the Company’s property, plant and equipment, right-of-use assets and
intangibleassets:
(a) (A) The Company has maintained proper records showing full particulars, including
quantitative details and situation, of its Property, Plant & Equipment and right-of-use assets.
(B) The Company has maintained proper records showing full particulars of intangible
assets.
(b) The Company has a regular programme of physical verification of Property, Plant and
Equipment and right of use assets and are physically verified in phased manner, which in
our opinion is reasonable, having regard to the size of the Company and nature of its assets.
According to the information and explanations given to us, no material discrepancy was
noticed on such physical verification.
(c) The title deeds of immovable properties (other than properties where the company is the
lessee and the lease agreements are duly executed in favour of the lessee), disclosed in the
financial statements are held in the name of the Company as at the balance sheet date.
(d) The Company has not revalued any of its Property, Plant and Equipment (including right-
of-use assets) and intangible assets during the year.
(e) No proceedings have been initiated during the year or are pending against the Company
as at March 31, 2025 for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.
(i) (@) In our opinion, physical verification of inventory has been conducted by the
management at reasonable intervals. No material discrepancies of 10% or more in the
aggregate for each class of inventory were noticed on such physical verification of inventory.
(b) Company has also been sanctioned working capital limits in excess of X & crore, in
aggregate, during the year, from banks on the basis of security of current assets. Stocks
held in factory and Godowns along with Trade Receivable upto 90 days has been
considered for calculation of eligible drawing power by the banks. Based on our examination
quarterly statements filed by the company with such banks are in agreement with the books
of account of the Company.
(iii) () As per the information and explanations given to us, the Company has provided loans
or provided advances in the nature of loans, or given guarantee, or provided security to any
other entity.
(A) The details of such loans or advances and guarantees or security to subsidiaries,
Joint Ventures and Associates are as follows:
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Guarantees Security Loans Advances
Aggregate amount granted/provided
during the year
Subsidiaries NIL
Joint Ventures
| - Associates
Balance Outstanding
as at balance sheet
date in respect of /
above cases
Subsidiaries
- Joint Ventures
- Associates
AND
(B) The details of such loans or advances and guarantees or security to parties other
than subsidiary, joint ventures and associates are as follows:
Guarantees Security Loans Advances
Aggregate amount
granted/provided
during the year
- Others NIL NIL 0.19 Lakhs NIL
Balance Outstanding | NIL NIL 31.73 Lakhs NIL as at balance sheet
date in respect of
above cases
Others
(b) During the year the investments made and the terms and conditions of the grant of all
loans to companies are not prejudicial to the Company's interest.
(c) The Company has granted loans during the year to companies where the schedule of
repayment of principal and payment of interest has been stipulated and the repayment or
receipts are regular.
(d) There are no amounts of loans granted to companies which are overdue for more than
ninety days.
(e) There were no loans which had fallen due during the year, that have been renewed or
extended or fresh loans granted to settle the overdues of existing loans given to the same
parties.
(f) The Company has not granted any loans or advances in the nature of loans, either
repayable on demand or without specifying any terms or period of repayment to companies,
firms, Limited Liability Partnerships or any other parties. Accordingly, the requirement to
report on clause 3(iii)(f) of the Order is not applicable to the Company.
(iv) The Company has not granted any loans or provide any guarantees or securities to
parties covered under Section 185 of the Act. Further, provisions of sections 186 of the
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Companies Act, 2013 in respect of loans, investments, guarantees and security have been
complied with by the Company.
(v) The Company, has not accepted any deposits from the public during the year and does
not have any deemed deposits as at March 31, 2025 and therefore, the reporting under
clause 3(v) of the Order is not applicable.
(vi) We have broadly reviewed the accounts and records maintained by the Company
pursuant to the Rules made by the Central Government for maintenance of cost records
prescribed under Section 148(1) of the Companies Act, 2013 read with Companies (Cost
Records and Audit) Rules, 2014 as amended and we are of the opinion that prima facie, the
prescribed accounts and records have been made and maintained. We have not, however,
made detailed examination of the records with a view to determine whether they are
accurate and complete.
(vii)(a) According to the information and explanation given to us, the Company is regular in
depositing undisputed statutory dues with appropriate authorities including Goods and
Services Tax, Provident Fund, Employees' State Insurance, Income Tax, Sales Tax, Service
Tax, Value Added Tax, Duty of Custom, Duty of Excise, Cess and other statutory dues as
applicable to the company and that there are no undisputed statutory dues outstanding as
on 31st March, 2025 for a period more than six months from the date they became payable.
(b) Details of statutory dues referred to in sub-clause (a) above which have not been
deposited as on 31st March, 2025 on account of any dispute are given below:
Name of the Nature of the | Amount (Rs. | Period to which the | Forum where the
Statute dues In Lakhs) amount relates dispute id pending
Goods and Goods and 16.56 FY 21-22 Commissioner
Services Tax Services Tax Appeals
Act, 2017
viii) As per the information and explanations given to us, there were no transactions relating
to previously unrecorded income that have been surrendered or disclosed as income during
the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).
(ix) (a) As per the information and explanations given to us, the Company has not defaulted
in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
(b) According to the information and explanations given to us and on the basis of our audit
procedures, the Company has not been declared wilful defaulter by any bank or financial
institution or other lender.
(c) In our opinion and as per the information and explanations given to us term loans were
applied for the purpose for which the loans were obtained.
(d) According to the information and explanations given to us, and the procedures performed
by us, and on an overall examination of the financial statements of the Company, funds
raised on short term basis have, prima facie, not been used during the year for long-term
purposes by the Company.
+( siLigoh
9
----------------Page (23) Break----------------
(e) On an overall examination of Financial Statements of the Company, the Company has
not taken funds from any entity or person on account of or to meet the obligations of its
subsidiaries, associates or joint ventures.
(f) The Company has not raised loans during the year on the pledge of securities held in its
subsidiaries, joint ventures or associate companies.
(x) (a) The Company has not raised moneys by way of initial public offer or further public
offer (including debt instruments) during the year and hence reporting under clause 3(x)(a) of
the Order is not applicable.
(b) During the year, the Company has not made any preferential allotment or private
placement of shares or convertible debentures (fully or partly or optionally) and hence
reporting under clause 3(x)(b) of the Order is not applicable.
(xi) (@) According to the information and explanations given to us and as represented by the
Management and based on our examination of the books and records of the Company and
in accordance with generally accepted auditing practices in India, no case of fraud by the
Company and no fraud on the Company has been noticed or reported during the year.
(b) Since no fraud by the Company or on the Company has been noticed or reported during
the period covered by our audit, therefore no report under sub-section (12) of section 143 of
the Companies Act has been filed in Form ADT-4 as prescribed under rule 13 of Companies
(Audit and Auditors) Rules, 2014 with the Central Government, during the year.
(c) As per the information and explanations given to us, no whistle blower complaints
received by the Company during the year.
(xii) The Company is not a Nidhi Company and hence reporting under clause 3(xii) of the
Order is not applicable.
(xiii) In our opinion all transactions with the related parties are in compliance with Section
177 and 188 of the Companies Act, 2013 where applicable and the necessary details have
been disclosed in the financial statements as required by the applicable Indian Accounting
Standards.
(xiv) (a) In our opinion the Company has an adequate internal audit system commensurate
with the size and the nature of its business.
(b) We have considered, the internal audit reports for the year under audit, issued to the
Company during the year and till date, in determining the nature, timing and extent of our
audit procedures. The internal audit report did not contain any material adverse findings for it
to be reported in our report.
(xv) 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 and as
such the compliance of provisions of Section 192 of the Companies Act, 2013 is not
applicable.
(xvi) (a) The Company is not required to be registered under section 45-1A of the Reserve
Bank of India Act, 1934, hence, reporting under clause 3(xvi)(a),(b) and (c) of the Order is
not applicable.
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(b) In our opinion, there is no core investment company within the Group (as defined in the
Core Investment Companies (Reserve Bank) Directions, 2016) and accordingly reporting
under clause 3(xvi)(d) of the Order is not applicable.
(xvii) The Company has not incurred cash losses during the financial year covered by our
audit and the immediately preceding financial year.
(xviii) There has been no resignation of the statutory auditors of the Company during the
year.
(xix) On the basis of the financial ratios, ageing and expected dates of realisation of financial
assets and payment of financial liabilities, other information accompanying the financial
statements and our knowledge of the Board of Directors and Management plans and based
on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of
the audit report indicating that Company is not capable of meeting its liabilities existing at the
date of balance sheet as and when they fall due within a period of one year from the balance
sheet date. We, however, state that this is not an assurance as to the future viability of the
Company. We further state that our reporting is based on the facts up to the date of the audit
report and we neither give any guarantee nor any assurance that all liabilities falling due
within a period of one year from the balance sheet date, will get discharged by the Company
as and when they fall due.
(xx) (a) According to the information and explanations given to us, in respect of other than
ongoing projects, there are no unspent amounts that are required to be transferred to a fund
specified in Schedule VII of the Companies Act (the Act), in compliance with second proviso
to sub section 5 of section 135 of the Act. Accordingly, reporting under clause 3(xx)(a) of the
Order is not applicable for the year.
(b) There are no unspent amounts in respect of ongoing projects that are required to be
transferred to a special account in compliance of provision of sub section (6) of section 135
of Companies Act.
For Mantry & Associates
Chartered Accountants
Place: Siliguri
Date: 30/05/2025
CA. Manjari Mantry
Partner
Membership No. 307960
UDIN: 25307960BMOBGF2053
----------------Page (25) Break----------------
ANNEXURE B TO THE INDEPENDENT AUDITOR’S REPORT
Report on the Internal Financial Controls over Financial Reporting under Clause (i) of
Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of Teesta Agro
Industries Limited (“the Company”) as of March 31, 2025 in conjunction with our audit of the
Ind AS 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 intemal 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 Act.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's intemal financial controls over
financial reporting based on our audit. We conducted our audit in accordance with the
Guidance Note issued by the Institute of Chartered Accountants of India and the Standards
on Auditing, prescribed under section 143(10) of the Act, to the extent applicable to an audit
of internal financial controls. 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 internal financial controls over financial 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 control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the
preparation of Ind AS financial statements for external purposes in accordance with Indian
Accounting Standards prescribed under section 133 of the Act. A company's internal
financial control over financial reporting Includes those policies and procedures that (1)
----------------Page (26) Break----------------
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 Indian Accounting Standards prescribed under section 133 of
the Act, and that receipts and expenditures of the company are being made only in
accordance with authorisations of management and directors of the company; and (3)
provide reasonable assurance regarding prevention or timely detection of unauthorised
acquisition, use, or disposition of the company's assets that could have a material effect on
the Ind AS 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 internal 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 explanations given to us,
the Company has, in all material respects, an adequate intemal financial controls system
over financial reporting and such intemal financial controls over financial reporting were
operating effectively as at March 31, 2025, based on the intemal financial control over
financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note issued by the Institute of
Chartered Accountants of India.
For Mantry & Associates
Chartered Accountants
(Registration No. 315048E)
M"":’L""‘L W\ Place: Siliguri
Date: 30/05/2025
CA. Manjari Mantry
Partner
Membership No. 307960
UDIN: 25307960BMOBGF2053
----------------Page (27) Break----------------
Notes forming part of the Financial Statements for the year ended 31° March, 2025
(= in Lakh)
1. CORPORATE INFORMATION
The company is a public listed company domiciled in India and is incorporated under
the provisions of the Companies Act applicable in India. Its shares are listed on The
Bombay Stock Exchange of India. The registered office of the company is located at
Mazabari, PO-Rajganj, Dist.-Jalpaiguri, west Bengal, PIN-735134.
The Company is principally engaged in the business of manufacturing and marketing
Fertilizers.
2. SIGNIFICANT ACCOUNTING POLICIES
2.1
2.2
2.3
Basis of preparation:
The financial statements of the company have been prepared in accordance with Indian
Accounting Standards (Ind AS). on accrual basis and under the historical cost
convention pursuant to section 133 of the Companies Act, 2013 read with rule 3 of
Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian
Accounting Standards) Ammended Rules, 2016.
Use of estimates: ;
The preparation of financial statements 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. Difference between the actual results and estimates are recognised in the
period in which the results are Known/ materialized.
Current versus non-current classification:
Any asset or liability is classified as current if it satisfies any of the following conditions:
(i) The asset/liability is expected to be realized/settled in the Company’s normal
operating cycle;
(ii) The asset is intended for sale or consumption;
(iii) The asset/liability is held primarily for the purpose of trading;
(iv) The asseti/liability is expected to be realized/settled within twelve months after the
reporting period;
(v) The asset is cash or cash equivalent unless it is restricted from being exchanged or
used to settle a liability for atleast twelve months after the reporting date;
(vi) In the case of liability, the Company does not have an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.
All other assets and liabilities are classified as non-current assets and liabilities.
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
For the purpose of current/non-current classification of assets and liabilities, the
company has ascertained its normal operating cycle as twelve months. This is based on
----------------Page (28) Break----------------
*
the nature of services and the time between the acquisition of assets or inventories for
processing and their realization in cash and cash equivalents.
2.4 Property, plant and equipment:
Property, plant & equipment (PPE) and capital work in progress are stated at cost less
accumulated depreciation and accumulated impairment losses, if any. Cost comprises
the purchase price including duties and other non refundable taxes or levies directly
attributable cost of bringing the assets to its working condition, borrowing costs if
capitalization criteria are met and indirect cost specifically attriputable to construction of
a project or to the acquisition of a fixed asset.
Depreciation on PPE is calculated using the straight-line method to allocate their cost,
net of their residual values, over their estimated useful lives as per schedule II of
Companies Act, 2013.
Losses arising from the retirement of, and gains or losses arising from disposal of PPE
are recognized in the Statement of Profit and Loss.
2.5 Impairment of Asset:
An asset is treated as impaired when the carrying cost of the same exceeds its
recoverable amount. An impairment is charged to the Profit and Loss Account in the
year in which an asset is identified as impaired. The impairment loss recognized in prior
accounting period is reversed if there has been a change in the estimate of the
recoverable amount.
2.6 Inventories: >
Inventories are valued at cost.
(a) Inventories of stores & spares and packing materials are valued at FIFO basis.
(b) Major raw materials are valued at cost on FIFO basis; Raw materials for NPK are
valued at average cost price.
(c ) Finished goods are valued at lower of cost and net realisable value.
Cost includes cost of purchase, duties, taxes and all other costs incurred in bringing the
inventories to their present location.
2.7 Revenue Recognition:
a) Sales exclusive of Excise Duty, VAT and GST are recognised as revenue on
dispatches.
b) Dividend income on investments is accounted for when the right to receive the
payment is established.
c) Interest income is accounted on time proportion basis taking into account the amount
outstanding and applicable interest rate.
d) Income from rent from Property is recognized when the right to receive the payment
is established.
2.8 Subsidy:
i
$
----------------Page (29) Break----------------
2.9
2.10
2.11
2.12
2.13
2.14
Subsidy receivable from Government on sale of S.S.P. & G.S.S.P. Fertilizer is included
in income and recognised on accrual basis. Where the grant or subsidy relates to an
asset, it’s value is deducted in arriving at the carrying amount of the related asset.
Foreign currency Transactions:
Transactions in foreign currencies are recorded at the rates of exchange prevailing on
the dates when the relevant transactions take place; assets and liabilities valued at
contract/yearend rate and resultant loss or gain is accounted for in the profit and loss
account.
Investments:
Long term investments are stated at cost and provision for diminution is made, if such
diminution is other than temporary in nature. Considering the year end rates, no
diminution is there in the value of long term investments. Short term investments are
stated at cost as there is no diminution in yearend value.
Borrowing costs:
Borrowing Cost relating to (i) funds borrowed for acquisition/construction of qualifying
assets are capitalized up to the date the assets are put to use, and (ii) funds borrowed
for other purposes are charged to Profit and Loss Account.
Tax Liability:
Tax liability is estimated considering the provisions of the Income Tax Act, 1961.
Deferred tax is recognized on timing difference, being the difference between taxable
income and accounting income that originate in one period and are capable of reversal
in one or more subsequent periods. On prudent basis, Deferred tax asset is recognized
and carried forward only when there is a reasonable certainty that sufficient future
taxable income will be available against which such deferred tax assets can be realized.
Employee Benefits:
Contributions to Provident fund and Superannuation Fund, which are defined
contribution schemes are made to a government administered Provident Fund and to
recognized trust respectively and are charged to the Profit and Loss account as
incurred. The company has no further obligations beyond its contributions to these
funds.
Provision for gratuity, under a LIC administered fund, and leave encashment, which are
in the nature of defined benefit plans, are provided based on actuarial valuation based
on projected unit credit method, as at the balance sheet date.
Provisions, contingent liabilities and contingent assets:
Provisions involving substantial degree of estimation in measurement are recognized
when there is a present obligation as a result of past events and it is possible that there
will be an outflow of resources. Contingent liabilities are not recognized but are
----------------Page (30) Break----------------
‘disclosed in notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
Other Explanatory notes and Information
2.15 Sundry Debtors and advances (considered good) include certain overdue debts/ old
advances aggregating to 15 (Previous Year 15) for which necessary steps are
being taken for realisation and as such no provision there against is considered
necessary in these accounts.
2.16 Balances of certain Sundry Debtors, Sundry Creditors, Loans and Advances and
Other Liabilities are in process of confirmation/reconciliation. The management is of
the opinion that adjustment if any arising out of such reconciliation would not be
material.
2.17 Minimum Alternate Tax Credit is recognized as an asset only to the extent there is
convincing evidence that the Company will pay normal Income Tax during the
specified period. ‘
2.18 In the opinion of the Board the Current Assets, Loans and advances appearing in the
company’s balance sheet as at the yearend would have value on realization in the
normal course of business at least equal to the respective amounts at which they are
stated in the balance sheet.
2.19 Under the Micro, Small and Medium Enterprises Development Act, 2006, certain
disclosures are required to be made relating to micro, small and medium enterprises
but the information is not available.
2.20 (a) Estimated amount of Capital Commitments net of advances as at 31.03.2025,
and not provided for is © 20 (Previous year & 100).
(b) Contingent Liabilities 2024-25 2023-24
(Not provided for) in respect of:-
- Letter of Credit 1147 1116
- Bank Guarantees 74 56
2.21 Consumption of raw materials includes foreign exchange loss of 0 (Previous year
loss of &0)
2.22 Retirement Benefits
Defined Benefits Plan
The company has subscribed to group gratuity policy with the Life Insurance
Corporation of India to cover its liability towards employees’ gratuity. Gratuity liability
has been actuarially calculated and the same has been provided for as on the date of
Balance Sheet. Summary of Gratuity Plan is given below:-
----------------Page (31) Break----------------
the year
a. Assumptions 31.03.2025 31.03.2024
| Discount Rate 6.49% 7.10%
Rate of increase in compensation levels 6% 6%
Rate of Return on Plan Assets 6.49% 7.10%
Expected Average remaining working 11.56 13.55
Lives of employees (years)
b. Reconciliation of Opening & Closing 31.03.2025 31.03.2024
Balances of the present value of defined
benefit obligation
Present Value of Obligation as at the 96 103
Beginning of the year
Interest Cost 7 8
Current Service Cost 6 6
Benefits paid (8) (23)
Actuarial (gain)/loss on obligations (5)
Present Value of Obligation as at the 96 96
End of the year
c. Reconciliation of Opening & Closing 31.03.2025 31.03.2024
Balances of fair value of plan assets
Plan assets at the beginning of the year 88 94
Expected return on plan assets 6 6
Actual Company contributions 10 os 11
Benefits paid (8) (23)
Actuarial gain/(loss) on plan assets (0) (0)
Plan assets at the end of the year 96 88
d. Net asseti/liability recognized in the 31.03.2025 31.03.2024
balance sheet
Current Liability (Amount due within one 0 4
year)
Non Current Liability (Amount due over (1) 92
one year) |
Present Value of Obligation as at the 96 96
End of the year
Fair Value of Plan assets as at the end of | 96 88
the year
Funded Status 4 (8)
Net Asset/(Liability) Recognized in 1 (8)
Balance Sheet
e. Components of employer expenses for | 31.03.2025 31.03.2024
----------------Page (32) Break----------------
Current Service Cost 6
Past Service Cost --
Interest Cost | 7
Expected Return on Plan Assets
Net actuarial (gain)/ loss recognized in
the year
Expenses Recognized in the statement 1
of Profit & Loss Account
The company extends the benefit of leave encashment to its employees while in service.
Leave encashment benefits are accounted for on the basis of actual valuation as at year
end.
Defined Contribution Plan
Contribution to Defined Contribution Plan i.e. contribution to Provident Fund amounting to
X18 (Previous year ¥22) has been recognized as expenses in the year and charged to
revenue account. These contributions are made to the fund administered and managed
by Regional Provident Fund Commissioners.
2.23 Segment Information
The business segments have been identified on the basis of the products manufactured
by the Company i.e. Fertilisers & Sulphuric Acid. Mainly.Sulphuric Acid is captively used
for production of SSP. The company is managed organisationally as one unified entity,
hence there are no separate geographical segments. |
Year Ended
March 31, 2025
Year Ended
March 31, 2024
Segment Revenue
Fertiliser (NBS) 17846 15918
Sulphuric Acid & others 925 1444
Total Segment Revenue 18771 17362
Less : Inter-Segment Revenue 0 1330
Net Sales/Income from Operations 18771 16032
Segment Profit/(Loss) before tax and interest 7
Fertiliser 824 464
Sulphuric Acid & others 140 (296)
Total 964 168
Add:
(i) Trading Revenue & Expenditure (Net) 0 0
(ii) Net Interest Expense(-)/ Income (+) (52) (73)
(ili) Unallocated Revenue & Expenditure (Net) | 31 412
Net Profit/(Loss) from Ordinary Activities 943 507
| Capital Employed
(Segment Assets — Segment Liabilities)
Fertiliser (NBS) 8607 7283
----------------Page (33) Break----------------
Sulphuric Acid & others 3824 3662
Total 12431 | 10945
Capital Expenditure 235 472
Depreciation for the period (Net) - 282 246
2.24 Deferred Tax Accounting:-
Carrying amount of deferred tax assets and deferred tax liabilities as given in Ind AS
12 has been reviewed as on 31™ March, 2025. Deferred tax assets and liabilities are
measured at the present prevailing tax rate. Net deferred tax liability for the year £24
has been recognized in the Profit and Loss Account for the year.
2.25 Management has evaluated value in use of its fixed assets, current assets and
current liabilities. Based on the past history and track records of the company has
assessed the risk of default by the customer and expects the credit loss to be
insignificant. On evaluation, management is of the opinion that there is no
impairment of the Company’s assets as on 31% March, 2025 and hence.no provision
is required.
2.26 Related Party Disclosures:
Party Relationship
Serial
No. ;
1. Mr. Hardev Singh, Managing Director Key management personnel
a Mr. U. C. Sahoo, Executive Director «Do-
3 | Mrs. Joginder Kaur, Director -Do-
4. Mr. Inderdeep Singh, Director -Do-
5. Mr. Paramdeep Singh, Director -Do-
6. Mr. A. K. Tripathy, CFO -Do-
7. Mr. Abhinab Kr. Pandey, Co. Secretary | -Do-
8. Cama Infra Limited Associated Company
9. HSB Leasing Limited Associated Company
Transaction with the related parties:
Name of the party Nature of Transaction during the | Yearend | Amount
year balance
Mr. Hardev Singh Remuneration Nil 84
Mr. U. C. Sahoo | Remuneration & PF contribution | Nil 21
Mr. Paramdeep Singh - do — Nil 14
Mr. Inderdeep Singh - do - Nil 26
Mr. A. K. Tripathy -do- Nil 21
Mr. Abhinab Kr. Pandey | Remuneration 0 2
Cama Infra Limited Rent receipt from property 14 0
HSB Leasing Limited Hire Purchase Loan + Interest 36 O |
Mr. Hardev Singh Unsecured Loan 0) 450
----------------Page (34) Break----------------
Related parties are identified by the management. The remuneration of Mr. Paramdeep
Singh as stated above is excluding gratuity funded through LIC for which contribution is
not separately identified.
2.27 Earnings Per Share:
Year ended on 31™ March 2025 2024
Profit after tax but before non-recurring items 679 361
Profit after tax available for equity shareholders 679 361
| Weighted average number of equity shares 5565070 5565070
Basic & diluted earnings per share before non- 12.20 6.49
recurring items (Face value of share %10/- each)
Basic & diluted earnings per share after non- 42.20 6.49
recurring items (Face value of share &10/- each)
2.28 Auditors Fees and Expenses include remuneration to:
Year ended on 31° March | 2025 2024
(a) Statutory Auditors:- |
(i) As Auditors | 2 2
(ii) Certification Fee & Conveyance Exp. | 1 q
2.30. Income/Expenditure in Foreign Currency
Year ended on 31° March 2025 2024
Income in Foreign Currency - -
Expenditure in Foreign Currency 4
(a) Raw materials (CIF basis) 5643 5171
(b) Others “ -
2.31 Breakup of Imported/ Indigenous material
Year ended on 31% March 2025 2024
a) Value of imported raw materials, packing materials, a
spare parts and components consumed 6533 6250
b) Value of indigenous raw materials, packing
materials, spare parts and components consumed 6819 5812
c) Percentage of above to total consumption
i) Imported raw materials, packing materials, spare
parts and components consumed 49% 52%
ii) Indigenous raw materials, packing materials,
spare parts and components consumed 51% 48%
2.32 Corporate social responsibilities —
Gross amount required to be spent during the year — 216.37
Actual amount spent on CSR activities during the year — £16.44
2.33 Financial risk management objectives and policies
----------------Page (35) Break----------------
The Company's principal financial liabilities comprise trade and other payables. The
main purpose of these financial liabilities is to finance the Company's operations. The
Company’s principal financial assets include loans, trade and other receivables, and
cash and cash equivalents that derive directly from its operations.
The Company’s activities expose it to a variety of financial risks: market risk, credit risk
and liquidity risk. The Company's focus is to foresee the unpredictability of financial
markets and seek to minimize potential adverse effects on its financial performance.
Market risk is primarily in the form of exchange rate fluctuation. The company is not
using forward contracts to mitigate foreign exchange related risk exposures. For some
years there is very little fluctuation in foreign exchange rates.
Credit risk is the risk that a customer allowed a credit facility may not honor his contract
for timely payment which may lead to financial loss to the Company. Customer credit
risk is managed by marketing department through the Company’s established policy,
procedures and control relating to customer credit risk management. Credit quality of
each customer is assessed and credit limits are defined in accordance with this
assessment. Outstanding customer receivables and security deposits are regularly
monitored.
The Company's principal source of liquidity is cash and cash equivalents and the cash
flow that is generated from operations. The Company has no outstanding Term Loans.
The Company's present production and operation level is 50%. There is no liquidity risk
2.34 Additional disclosures as required under schedule Ill of the Companies Act 2013.
1. Title deeds of all immovable properties are held in name of the Company as
at 31° March 2025.
2. The company does not hold any Investment Property in its books of
accounts, so fair valuation of investment property is not applicable.
3. The company has not revalued any of its Property, Plant & Equipment in the
current year & last year.
4. The company has not revalued any of its intangible assets in the current year
& last year.
5. The Company has not granted any loans or advances to promoters,
directors, KMP’s and the related parties that are repayable on demand or
without specifying any terms or period of repayment.
6. Disclosures related to Capital Work-in-Progress
(i) Capital Work-in-Progress (CWIP) — Ageing Schedule as at 31% March 2025
(& tn Lakh)
Capital Amount in CWIP for a period of Total
Less than | 1-2 years 2-3 years More — than
----------------Page (36) Break----------------
Work-in-
Progress
(CWIP)
| year 3 years
Chittorgarh
Project
Jhargram
Project
14 19 37
(li) Capital Work-in-Progress (CWIP) — Ageing Schedule as at 31°' March 2024
(= in Lakh)
Capital Amount in CWIP for a period of ' Total
Work-in- Less than | | 1-2 years 2-3 years More than
Progress year 3 years
(CWIP)
Chittorgar 59 - - 59
h Project
Jhargram 19 4 - - 23
Project
(ili) Capital Work-in-Progress (CWIP) — Completion schedule for projects overdue or
cost overruns as compared to original plan as on 31% March 2025
~ (& in Lakh)
Capital To be completed in Total
Work-in- Less than 1 | 1-2 years | 2-3years More than
Progress year 3 years
(CWIP)
, Up to | Up to | Up to | Beyond
31.03.2026 | 31.03.2027 | 31.03.2028 | 01.04.2028
Chittorgar | - - - - -
h Project
Siliguri 10 - - - 10
Jhargram | 1000 2000 1000 - 4000
Project
(iv) Capital Work-in-Progress (CWIP) — Completion schedule for projects overdue or
cost overruns as compared to original plan as on 31‘ March 2024
(= in Lakh)
Capital To be completed in Total
Work-in- Less than 1 | 1-2 years | 2-3 years More than
Progress year 3 years
----------------Page (37) Break----------------
fatio turnover ratio
shows the year
end stock
accumulation due
to sluggish sale
this year.
Trade Revenue from Average trade | 6.92 6.29 -10.02% The lower ratio
receivables operations receivables indicates year
turnover reveivables
ratio management
needs
| improvement.
Trade Total Purchases Closing Trade | 4.01 371 -8.09% | The higher trade
payables (for Material Payables payable turnover
turnover Consumed) + ratio is due to
ratio Other Expenses lower/ higher
(excluding credit period
non-cash offered for by
item) +Closing foreign creditors.
Inventory*-
é Opening
Inventory*)
*(Inventory
excluding
Finished
Goods & Stock in
Process)
Net capital Revenue from Working 437 1.48 14.58% On account of
turnover operations Capital + normal net profit
ratio current earned during the
maturities year.
of long term
borrowings .
Net profit Profit for the year | Revenue from | 3.62% 2.21% -63.48% The ratio is
ratio operations reduced
: marginally due
to higher turnover
than margin during
the year in
comparison with
: _ the previous year. Return Earning before Capital 8.77% 4.27% -105.49% | ROI reduced on
on capital interest and taxes | Employed account of lower
employed profit earned
|_ during the year.
2.35 The Company has prepared financial statements which comply with Ind AS applicable
for period ending 31 March, 2025. Figures in the financial statements have been
rounded off to the nearest & in lakh.
----------------Page (38) Break----------------
|
Mantry & Associates j Mobie 9434045028
26/2, Elactricity Sector Office Road. Milanpally, Siliguri - 734005, Dist. Darjeeling
Chliartened séecountants £-mail - mantry associates@yahoo co in
Unmodified Opinion is expressed on the Quarterlv/Annual Financial Results (for
companies other than banks) for the Quarter/Year Ended 31 March,2025
Independent Auditor’s Report on Last Quarter/4™ Quarter Standalone Financial Result for Quarter
Ended 31* March, 2024 (From 01/01/2025 to 31/03/2025) as well as year to date results of Annual
Standalone Financial Results for the year ended 31* March, 2025 (From 01/04/2024 to
31/03/2025) of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations
and Disdosure Requirements) Regulations, 2015, as amended
To
The Board of Directors
Teesta Agro Industries Limited
CIN : L24119WB1986PLC041245
Kolkata 700026.
REPORT ON THE AUDIT OF THE STANDALONE FINANCIAL STATEMENTS
OPINION
We have audited the quarterly Standalone Financial results and annual Standalone financial
results of Teesta Agro Industries Limited for the quarter ended 31%' March, 2025 (from
01/01/2025 to 31/03/2025) as well as year to date results of annual year ended 31% March
2025 (from 01/04/2024 to 31/03/2025), attached herewith, being submitted by the company
pursuant to the requirements of Regulation 33 & 52 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. These quarterly Standalone Financial results
as well as annual Standalone financial results have been prepared on the basis of the interim
financial statements, which are the responsibility of the company's management in
compliance. Our responsibility is to express an opinion on these financial results based on
our audit of such interim financial statements, which have been prepared in accordance with
the recognition and measurement principles laid down in Accounting Standard for Interim
Financial Reporting (Ind AS 34) prescribed, under Section 133 of the Companies Act, 2013
read with relevant rules issued thereunder; or by the Institute of Chartered Accountants of
India, as applicable and other accounting principles generally accepted in India.
BASIS OF OPINION
We conducted our audit in accordance with the Standards on Auditing (SAs), as specified
under section 143(10) of the Companies Act, 2013, as amended (‘the Act’). Our
responsibilities under those Standards are further described in the “Auditor's’ Responsibilities
for the Audit of the Standalone Financial Results” 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 together with the ethical requirements that are relevant to our audit of
the financial statements under the provisions of the Act and the Rules thereunder, and we
----------------Page (39) Break----------------
have fulfilled our ethical responsibilities in accordance with those requirements and the Code
of Ethics. We believe that the audit evidence by us is sufficient and appropriate to provide a
basis for our opinion.
MANAGEMENT'S RESPONSIBILITIES FOR THE STANDALONE FINANCIAL RESULTS
The Statement has been prepared on the basis of the Standalone Annual Financial
Statements. The Board of Directors of the Company are responsible for the preparation and
presentation of the Statement that gives a true and fair view of the profit and Other
Comprehensive Income of the Company and other financial information in accordance with
the applicable accounting standards prescribed under section 133 of the Act read with
relevant rules issued thereunder and other accounting principles generally accepted in India
and in compliance with Regulation 33 and 52 of the Listing Regulations. This responsibility
also includes maintaining of adequate accounting records in accordance with the provision s
of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other iregularities; selection and application of appropriate accounting policies;
making judgments and estimates that are reasonable and prudent; and the 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 the Statement that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the
Company's ability to continue as a going concern, disclosing as applicable, matters related
to going concern and using the going concem basis of accounting unless the Board of
Directors either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting
process.
AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE STANDALONE FINANCIAL
RESULTS
Our objectives are obtain reasonable assurance about whether the Statement as whole is
free from material misstatement, whether due to fraud or error, and to issue an auditors
report that includes our opinion. Reasonable assurance is a high level of assurance but is
not a guarantee that an audit conduct in accordance with SAs will always detect a material
misstatement when it exists. Misstatement can 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 user taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:-
a) Identify and assess the risks of material misstatement of the Statement, whether due
to fraud or error, design and perform audit procedures responsive to those risks, and
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b)
c)
d|
e
obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a 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 controls.
Obtain an understanding of internal control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances. Under Section 143(3)(i)
of the Act, we are also responsible for expressing our opinion on whether the
company has adequate intemal financial control with reference to financial
statements 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 the Board of Directors.
Conclude on the appropriateness of the Board of Director’s use of the going concern
basis of accounting and based on the audit evidence obtained, whether a material
uncertainty exits related to events or conditions that may cast significant doubt on the
Company'’s ability to continue as a going concern. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events
or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the statement, including
the disclosures and whether the statement represents the underlying transactions
and events in a manner that achieves fair presentation.
We communicate with those charges with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings including any significant
deficiencies in intemal 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.
OTHER MATTERS
In our opinion and to the best of our information and according to the explanations given to
us these quarterly financial results as well as the annual year to date results.
a) The results are presented in accordance with the requirements of regulation 33 and
52 of the SEBI (Listing obligations and Disclosure Requirements) Regulation, 2015 in
this regard in compliance with Ind-AS; read with Circular No. CIR/CFD/CMD/15/2015
dated November 30, 2015 and Circular No. CIR/CFD/FAC/62/2016dated July 5,
2016.
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b) The Statement includes the result for the quarter ended March 31, 2025 being the
balancing figure between the audited figures in respect of the full financial year
ended March 31, 2025 and the published unaudited year-to-date figures up to the
third quarter of the current financial year, which were subjected to a limited review by
us, as required under the Listing Regulations. The results give a true and fair view of
the profit and other financial information for the quarter ended 31st March , 2025
(from 01/01/2025 to 31/03/2025) as well as year to date result of annual 31st March,
2025 (from 01/04/2024 to 31/03/2025).
For Mantry & Associates
Chartered Accountants
(Registration No. 315048E)
Place: Siliguri
Date: 30/05/2025
CA. Manjari Mantry
Partner
Membership No. 307960
UDIN: 25307960BMOBGG7137
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TEESTA AGRO INDUSTRIES LIMITED
Swastik Valmikee. 1st Floor, 5A, Vaimikee Street, Kolkata 700 026. Phone: 2454 4331 / 2474 9983 / 2474 6123 - CIN No. L24119WB1986PLC041245, Website: www.teestaagro.in, E-mail: teestaagro86@gmail.com / teestaagro92@gmail.com
Date: 30.05.2025
To,
The Manager,
Listing Department,
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai- 400001
Scrip Code - 530259
Sir,
Sub: Detail of Outstanding Qualified Borrowings .
Ref: Financial Year ended 31st March, 2025.
In reference to the SEBI Circular No. SEBI/HO/DDHS/DDHS- RACPOD1/P/CIR/2023/172 dated
October 19, 2023, read with e-mail received from BSE Limited, please find below the details
Outstanding Qualified Borrowings for the financial year ended 31st March, 2025,
1. Outstanding Qualified Borrowings at the start of the firtancial year Rs. 2.47 Cr.
2. Outstanding Qualified Borrowings at the end of the financial year Rs. 4.31 Cr.
Note: The Company is not a Large Corporate for the purpose of SEBI Circular No.
SEBI/HOIDDHS/DDHSRACPOD1/P/CIR/2023/172 dated 19th October, 2023.
Kindly take this declaration on record.
Thanking You,
Yours Faithfully
For Teesta Agro Industries Ltd.
Sector 'B’ Pocket 5 & 6, Flat No. 4173, Basantkunj, New Delhi 110 070, Phone : (011) 2689 0556 / 2689 1267
Regd. Office & Plant: MAZABARI, P.O.: RAJGANJ, Dist : JALPAIGURI, W.B., Pin code : 735 134, Ph : (03561) 254 203/254 150/254 230,
Kamrangaguri, Opposite : Uttar Kanya PO. Satelite Township , Siliguri - 734015. E-mail : teestaagro92@gmail.com
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TEESTA AGRO INDUSTRIES LIMITED
Swastik Valmikee. 1st Floor. 5A. Valmikee Street. Kolkata 700 026. Phone: 2454 4331 / 2474 9983/ 24746123 CIN No. L24419WB1986PLC041245, Website: www.teestaagro.in, E-mail: teestaagro86@gmail.com / teestaagro92@gmail.com
Date:-May 30, 2025
To
The General Manager
Department of Corporate Services
BSE Limited
Phiroze Jeejeebhoy Tower
Dalal Street,
Mumbai-400001
Sir,
Sub: Declaration in respect of Audit Report with unmodified opinion for the financial year
ended 31st March, 2025:
Ref: Regulation 33(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015
|, Hardev Singh, Managing Director of Teesta Agro Industries Limited (CIN:
L24119WB1986PLC041245) having its registered office at Mazabari PO Rajganj, Dist.
Jalpaiguri, WB Pin: 735134 hereby declare that M/s. Mantry & Associates, Chartered
Accountants, (ICAI Firm Registration Number 315048E) Statutory Auditors of the Company,
have issued the Audit Report on the Audited Financial Results for the financial year ended
31st March, 2025 with unmodified opinion.
Kindly take this declaration on record.
Thanking You,
Yours Faithfully,
~==<z. For Teesta Agro Industries Ltd.
MANAGING DIRECTOR
DIN NO- 00550781
Sector ‘B' Pocket 5 & 6, Flat No. 4173, Basantkunj, New Delhi 110 070, Phone : (011) 2689 0556/2689 1267
Regd. Office & Plant: MAZABARI, PO.: RAJGANM, Dist : JALPAIGURI, W.B., Pin code : 735 134, Ph : (03561) 254 203/254 1 50/254 230,
Kamrangaguri, Opposite : Uttar Kanya P.O. Satelite Township , Siliguri - 734015, E-mail : teestaagro92@gmail.com
----------------Page (44) Break----------------
TEESTA AGRO INDUSTRIES LIMITED
‘Swasilk Valmikee. 1s! Floor, 5A. Vaimikee Steet, Kokata 700026, Phone: 2454 4331 1 2474 9983 2474 6123 CIN No. L24119WB1986PLE041245, Website: www teestaagro.in, E-mail: teestaagro86@gmail.com | teestaagro32@gmail.com
FORM A
Name of the Company | Teesta Agro Industries
Limited
Annual Financial
Statements for the
31st March, 2025
year ended .
Type of Audit Observation | NIL
Frequency of Observation | Not Applicable
To Be Signed by :
Hardev Singh
Managing Director
Anil Kumar Tripathy
Chief Financial Officer
Manjari Mantry
Auditor of the Company
Subash Chandra
Samantaray
Chairman of Audit
Committee b
Sector B' Pocket 5 & 6, Flat fia. 4173, Basantkurj, New Delhi 110 070, Phone : (011) 2689 0556/ 2689 1267 Regd. Ofice & Plant: MAZABARI, PO.: RAJGANJ, Dist: JALPAIGURI, WB., Pin code : 735 134, Ph : (03561) 254 20254 150/254 230,
Kamrangagur, Opposit : Utiar Kanya PO. Satelte Township., Sikguri- 734015, E-mail: teestaagro92@gmail.com
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