Annual-Report JCAL FY2021-22

Jyoti CNC Automation Limited Annual Report
Propelling Technology, Prospering Life 2021-22
BOARD OF DIRECTORS & COMPANY’S INFORMATION
Board of Directors Committees and its Membership

Mr. Parakramsinh G. Jadeja Audit Committee:
Chairman cum Managing Director Mr. Yogesh D. Kathrecha
(DIN: 00125050) Mr. Vijay P. Paranjape
Mr. Parakramsinh G. Jadeja
Mr. Sahadevsinh L. Jadeja
Whole Time Director
(DIN: 00126392)
Mr. Vikramsinh R. Rana Nomination & Remuneration Committee:
Whole Time Director Mr. Vijay P. Paranjape
(DIN: 00125079) Mr. Yogesh D. Kathrecha
Mrs. Rajshreeba P. Jadeja

Non-executive Director
(DIN: 07228784)
Mr. Yogesh D. Kathrecha Corporate Social Responsibility Committee
Independent & Non-Executive Director Mr. Yogesh D. Kathrecha
(DIN: 02355968) Mr. Parakramsinh G. Jadeja
Mr. Vikramsinh R. Rana
Mr. Vijay P. Paranjape
Independent & Non-Executive Director
(DIN: 00370451)
Mr. Rikesh Chand
Nominee Director
(DIN: 08769636)
Other Key Managerial Personnel
Registered Office
Mr. Kamlesh S. Solanki
Chief Financial Officer G – 506, Lodhika GIDC, Vill: Metoda
Dist.: Rajkot – 360 021. India
Mr. Maulik B. Gandhi Ph. No.: 02827 – 287081 | Fax: 02827 – 287480
Company Secretary
Statutory Auditor Ph. No.: 02827 – 235100

FAX No.: 02827 – 235141
G. K. Choksi & Co. E-mail: info@jyoti.co.in
(Chartered Accountants) Website : www.jyoti.co.in
708/709, Raheja Chambers,
Free Press Journal Road,
Nariman Point, Mumbai – 400 021. CIN: U29221GJ1991PLC014914
BOARD OF DIRECTORS’ REPORT
Dear Shareholders,
Your Directors have pleasure in presenting their 31thAnnual Report on business and operation
of your company for the year ended as at March 31, 2022.
STANDALONE FINANCIAL PERFORMANCE:
Financial Results 2021 – 22 2020 – 21
Revenue from Operations 678.23 436.33
Other Income 8.27 16.72
Total Revenue 686.50 453.05
EBDIT 117.48 70.99
Less : Finance Cost 65.16 66.04
Depreciation & Amortization 26.52 26.38
Profit Before Tax (PBT) 25.80 (21.43)
Less: Tax Expenses 6.55 (1.54)

Profit After Tax (PAT) 19.25 (19.88)
Paid Up Share Capital 29.48 29.48
Reserves & Surplus 381.10 365.83
Earnings Per Share (EPS) 6.53 (6.74)

Note: All Figures are in crores except Earnings Per Share.
 OPERATIONS, INDUSTRY SCENARIO AND ECONOMY:
During the financial year, the total revenue of the company on standalone basis stood at
Rs. 678.23 crores against Rs. 436.33 crores during previous financial year. The company
had net profit of Rs. 19.25 crores as against loss of Rs 19.88 crores in previous financial
year.
Although the operation of the company was set back during sever third wave of Covid –
19 during first quarter of the fiscal year and supply chain issues remains present
throughout the year. But with the revival of demand and favorable sentiments, the
company could achieve its top line of Rs. 678.23 crores in the remaining period.
 DIVIDEND:
To preserve the fiscal resources, board of directors has not recommend any dividend for
the financial year ended on March 31, 2022.
 FINANCE:
The borrowing of the company during the year was increased mainly to meet cash flow
and sustain business operation. As at March 31, 2022, the total borrowing of the
company as at end of the financial year 2021 - 22 was stood at Rs. 602.06 Crores.
 BOARD OF DIRECTORS:
Appointment, Retirement and Re-appointment:
Mr. Vikramsinh R. Rana and Mr. Sahadevsinh L. Jadeja, Whole Time Directors of the
company, were to retire by rotation in pursuant to the provisions of section 152 of the
Companies Act, 2013 read with companies (Appointment and Qualification of Directors)
Rules, 2014 and the Articles of Association of the company and being eligible, were
offered themselves for reappointment.
The Company has received declarations from all the Independent Directors of the
company confirming that they meet the criteria of Independence as prescribed under
section 149(6) of the Companies Act, 2013.
No. of Board Meetings:
The board met 4 times during the year and the intervening gap between the meetings
was within the period prescribed under the companies act, 2013.
Evaluation of Directors:
The evaluation of performance of Board, Committee and Individual Directors were

carried out in pursuant to the evaluation criteria as laid down by the Nomination &
Remuneration Committee.
 CORPORATE SOCIAL RESPONSIBILITY (CSR):
Jyoti’s vision and mission focus on having the right balance between Value Creation and
Corporate Citizenship. Corporate Social Responsibility is an integral part of Jyoti’s
business process and the same is reflecting by activities carried out by the company.
The Annual Report on CSR Activities carried out by the company during the financial
year is given in Annexure I to this report in the format prescribed in the Companies
(Corporation Social Responsibility Policy) Rules, 2014. The CSR Policy and Initiatives
undertaken by the company is available on the website of the company.
 SUBSIDIARIES & CONSOLIDATED FINANCIAL STATEMENT:
The company has overseas subsidiaries including step down operating subsidiaries.
During the year, the company has not made any fresh equity investment in any of its
subsidiaries. In pursuant to the provisions of section 129(3) of the Company Act, 2013, a
company has prepared consolidated financial statement for the financial year ended on
March 31, 2022 and the report of auditor is annexed herewith. Further, a statement
containing salient features of financial statement of subsidiaries in Form AOC – I
annexed to this report.
 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
Particulars of loans, guarantee given, and investment covered under section 186 of the
Companies Act, 2013, form part of the notes to the financial statements annexed to this
report.
 RELATED PARTY TRANSACTIONS:
All contracts / arrangements / transactions entered by the company during the FY 2021
– 22 with related parties were on arm’s length basis and in the ordinary course of
business. The approval of audit committee was taken for all Related Party Transactions
(RPT). Details of all such transactions undertaken during the financial year were given
in Form AOC – 2 enclosed herewith at Annexure II.
 DISCLOSURE AS PER THE SEXUAL HARASSMENT OF WOMAN AT

WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The company has zero tolerance towards sexual harassment of woman at its workplace.
The company has not received any complaints of sexual harassment during the year.
 RISK MANAGEMENT POLICY:
The company is in capital goods sector and like any other business, it has to deal with
risks arising out of and in surrounding business environments. The company has
implemented risk mitigating measures to improve its business efficiency, to sustain in
competitive business environments as well as to transform its business operation to
Industry 4.0 standards so as to meet future challenges.
The risk governance structure of the company acts in close coordination with the top
management officials of the company and is capable to deal with the risks at all levels as
well as to mitigate its impact on business operation and financials of the company. The
risks surrounded by the company can broadly be classified under [1] Industry Risk; [2]
Operational and Management Risk; [3] Inputs Price Volatility Risk; [4] Finance Risk; [5]
Business Risk and [6] Interest Rate Risk.
The above risk always presents in business of the company and if not contained and/or
monitored, the same may have more or less impact on entire business operation and/or
future growth of the company. So, in order to mitigate the impact of such risks, the
factors arising such risks have well been identified and addressed in time by the
company. The Risk Management System of the company is more described in notes on
standalone financial statement annexed herewith.
 INTERNAL CONTROL SYSTEM:
The company has internal control system, commensurate with the size, scale and
complexity of operations. The controlling structure in place in company is adequate to
safeguard the assets and protect against loss from unauthorized use or disposition.
 DEPOSITS:
The company has not accepted any deposits or money in contravention to the provisions
of Section 73 of the Companies Act, 2013 and to the provisions of Companies
(acceptance of Deposits) Rules, 2014.
 SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATORS OR

COURTS OR TRIBUNAL:
There are no significant and material order passed by the Regulator, Court or Tribunal
impacting the going concern status and company’s operation in future. However,
members’ attention is drawn to the contingent liabilities, commitments given in the
notes forming part of the financial statement annexed to this report as well as the facts
disclosed here in this report.
 DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 134(3)(c) of The Companies Act, 2013 the Directors hereby
state and confirm that:
(a) in the preparation of the Annual accounts, the applicable accounting standards have
been followed along with proper explanation relating to material departures if any;
(b) the directors had selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Company at the end of the financial
year ended 31stMarch, 2022 and of the Profit of the Company for that period;
(c) the directors taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities.
(d) the directors had prepared the annual accounts on a going concern basis.
(e) the directors had devised proper internal systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
 ENERGY CONSERVATION, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE

EARNINGS & OUTGO:
The disclosure required in pursuant to the provisions of Section 134(3)(m) of the

Companies Act, 2013 are provided in Annexure II to the Report attached herewith.
 COST AUDITOR:
The Board of Directors of the company has appointed M/s. Mitesh Suvagiya & Co.
Practicing Cost Accountant, as Cost Auditor of the company for conducting the audit of
cost records of the company for the financial year 2022-23. The cost audit for the
financial year 2021 – 22 was conducted by the said auditor and report thereon is filed on
the web portal of Ministry of Corporate Affairs.
 AUDIT & AUDITORS:
Mr. Arun M. Kothari, Chartered Accountant, has resigned his office as Auditor of the
company vide his resignation letter dated May 5, 2022. So, the board of directors of the
company has, in pursuant to the provisions of Section 139 (8) of the companies act,
2013 had, on recommendation of an Audit Committee, appointed M/s. G. K. Choksi & Co.,
Chartered Accountants, (Firm Reg. No. 125442W) as an Auditor of the company. The
shareholders of the company had approved the appointment of M/s. G. K. Choksi & Co.,
Chartered Accountants, as Auditor of the company.
The report from auditor on financial statement of the company for the year ended on
March 31, 2022 is annexed to this report. In his report, the auditor puts a remark in
relevant clauses regarding delay in payment due to the banks and some statutory dues.
In this regard, the board would like to explain that the same were temporary and for
short duration. The company had paid all such dues to banks, financial institutions as
well as government authorities.
Apart from above, the Notes on financial statement referred to in the Auditor’s Report
are self-explanatory and do not call for any further comments and/or explanation.
 SECRETARIAL AUDIT:
Pursuant to the provisions of section 204 of the companies act, 2013, the board of
directors of the company had appointed M/s. N. S. Dave & Associates, Practicing
Company Secretary, for Secretarial Audit and the report thereon submitted by them is
annexed to this report (Annexure IV).
 APPRECIATION:
Your Directors also wish to place on record their deep sense of appreciation for the
committed services of employees of the Company.
Your Directors would like to express their appreciation for assistance and co-
operationreceived from the Government authorities, financial institutions, banks,
customer, vendors and members during the year under review.
For & on behalf of the Board of Directors,
Sd/-
Parakramsinh G. Jadeja
Chairman
Dated: February 19, 2023 at Metoda, Rajkot.

Annexure I
REPORT ON EXPENDITURE MADE ON CORPORATE SOCIAL RESPONSIBILITY (CSR)

DURING F. Y. 2021 - 22
1. Brief outline on CSR Policy of the Company: The CSR activities of the company will,
apart from other activities, focuses on Sports, Arts, Culture and Skill Development. In
addition, the committee has also decided to identify the areas under “Swachh Bharat
Mission” or “Clean India Mission” initiated by Government of India and had decided to
spend amount thereon. The CSR Policy of the company is available on the company’s
web site http://jyoti.co.in/about-us/corporate-social-responsibility/. The projects taken
/ activities initiated by the company are within the broad framework of Schedule VII of
the Companies Act, 2013.
2. Composition of CSR Committee:

Number of Number of meetings of
Designation /
Sl. meetings of CSR CSR Committee
Name of Director Nature of
No. Committee held attended during the
Directorship
during the year year
Shri Parakramsinh G. Chairman of
1. One One
Jadeja Committee
Member of
2. Shri Vikramsinh R. Rana One One
Committee
Shri Yogesh D. Member of
3. One One
Kathrecha Committee
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects
approved by the board are disclosed on the website of the company:
http://jyoti.co.in/about-us/corporate-social-responsibility/.
4. Provide the details of Impact assessment of CSR projects carried out in pursuance of
sub-rule (3) of rule 8 of the Companies (Corporate Social Responsibility Policy) Rules,
2014, if applicable (attach the report): Not Applicable
5. Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the
Companies (Corporate Social Responsibility Policy) Rules, 2014 and amount required
for set off for the financial year, if any: NIL
Amount available for set-off from Amount required to be set-off for

Sl. No. Financial Year
preceding financial years (in Rs) the financial year, if any (in Rs)
NIL
6. Average net profit of the company as per section 135(5): Rs. 12,37,32,530/-
7. (a) Two percent of average net profit of the company as per section 135(5): Rs.
24,74,651/-
(b) Surplus arising out of the CSR projects or programmes or activities of the previous
financial years: NIL
(c) Amount required to be set off for the financial year, if any: NIL
(d) Total CSR obligation for the financial year (7a+7b-7c): Rs. 24,74,651/-
8. (a) CSR amount spent or unspent for the financial year:
Amount Unspent (in Rs.)

Total Amount
Spent for the Total Amount transferred to Amount transferred to any fund specified
Financial Year. Unspent CSR Account as per under Schedule VII as per second proviso
(In Rs.) section 135(6). to section 135(5).
Date of Name of the Date of

Amount. Amount.
transfer. Fund transfer.
Rs. 24,74,651/- Nil NA Nil Nil NA
(b) Details of CSR amount spent against ongoing projects for the financial year: Nil
(c) Details of CSR amount spent against other than ongoing projects for the financial
year:
(1) (2) (3) (4) (5) (6) (7) (8)
Item from Mode of
the list of Location of the implementation -
Local project. Mode of Through implementing
activities Amount spent
Sl. Name of the area implementation agency.
in for the project
No. Project (Yes/ - Direct
schedule (in Rs.). CSR
No). (Yes/No).
VII to the State. District. Name. registration
Act. number $
1 Promotion of Yes Gujarat Rajkot
Rs. 9,06,400/- Yes - -
Education
2 Clean India Yes Gujarat Rajkot Rs. 5,42,111/- Yes - -
3 Skill Yes Gujarat Rajkot Yes - -
Rs. 10,26,140/-
Development
Total Rs. 24,74,651/-
(d) Amount spent in Administrative Overheads: Nil
(e) Amount spent on Impact Assessment, if applicable: Nil
(f) Total amount spent for the Financial Year (8b+8c+8d+8e): Rs. 24,74,651/-
(g) Excess amount for set off, if any:
Sl. No. Particular Amount (in Rs.)

Two percent of average net profit of the company as
(i) Rs. 24,74,651/-
per section 135(5)
(ii) Total amount spent for the Financial Year Rs. 24,74,651/-
(iii) Excess amount spent for the financial year [(ii)-(i)] 0
Surplus arising out of the CSR projects or programs
(iv) 0
or activities of the previous financial years, if any
Amount available for set off in succeeding financial

(v) 0
years [(iii)-(iv)]
9. (a) Details of Unspent CSR amount for the preceding three financial years:
Amount transferred to any Amount

Amount Amount
fund specified under remaining to
transferred to spent in the
Preceding Schedule VII as per section be spent in
Sl. Unspent CSR reporting
Financial 135(6), if any. succeeding
No. Account under Financial
Year financial
section 135 (6) Year (In Name of Amount Date of
years.
(In Rs.) Rs.). the Fund (In Rs.) transfer (In Rs.)
1. 2018-19 27,23,390
NA N.A. N.A.
2. 2019-20 75,61,996
3. 2020-21 NIL 60,35,000 NIL NIL
(b) Details of CSR amount spent in the financial year for ongoing projects of the
preceding financial year(s): Not applicable.
(1) (2) (3) (4) (5) (6) (7) (8) (9)

Sl. Project Name Financial Project Total Amount Cumulative Status of
No. ID. of the Year in duration. amount spent on amount the project
Project. which the allocated the spent at the -
project was for the project in end of Completed
commenced. project the reporting /Ongoing.
(in Rs.). reporting Financial
Financial Year. (in
Year (in Rs.)
Rs).
NIL
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset
so created or acquired through CSR spent in the financial year: Not Applicable
11. Specify the reason(s), if the company has failed to spend two per cent of the average net
profit as per section 135(5): Not Applicable
Date: 19.02.2023 Sd/- Sd/-

Place: Rajkot
Chairman & Managing Director Chairman CSR Committee.
Annual Report
2020 – 21
Annexure II
Form AOC – 2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of
the companies’ act, 2013 including certain arms length transactions under third proviso thereto.
I. Details of contracts / arrangement / transactions not at arm’s length basis:
a. Names(s) of the related party and nature of relationship NIL

b. Nature of contracts/arrangements/transactions NIL
c. Duration of the contracts/arrangements/transactions NIL
d. Salient terms of the contracts or arrangements or transactions including the value, if any. NIL
e. Justification for entering into such contracts or arrangements or transactions NIL
f. Date(s) of approval by the Board NIL
g. Amount paid as advances, if any NIL
h. Date on which the special resolution was passed in general meeting as required under first proviso to section 188 NIL
II. Details of contracts / arrangement / transactions at arm’s length basis:
PART – A: Details of Transactions with Related Parties – Other Than Individuals
Names(s) of the related party and Huron Canada Inc.,

Huron Graffenstanden SAS Huron Graffenstanden SAS Ignite Inc.
nature of relationship. Canada
Sale & Purchase of Goods
Nature of contracts / arrangements / Sale & Purchase of
including Raw Materials & Guarantee Given Sale & Purchase of Goods
transactions. Goods
Finished goods
Rollover of Guarantee given by
Duration of the contracts / arrangements / Financial Year Financial Year Financial Year
Banks from Different Dates for
transactions. 2021 – 22 2021 – 22 2021 – 22
Different Duration
Salient terms of the contracts or Based on business needs and Guarantee Given to Bankers of Based on Business Transactions in ordinary
arrangements or transactions including the policies. Subsidiary towards Collateral needs and policies. course of business
value, if any. Value Rs. 30,12,77,643/-. Security Value Rs. 2,42,925/- Value Rs. 75,48,538/-
Approval of Board not

required pursuant to the
Date(s) of approval by the Board. July 27, 2021 November 17, 2021 July 27, 2021 provisions of third proviso to
sub section 1 of section 188 of
companies act, 2013.
Amount paid as advances, if any. - - - -
PART – A: Details of Transactions with Related Parties – Other Than Individuals (Conti….)
Names(s) of the related party and

Spectre Favourite Engineering
nature of relationship.
Nature of contracts / arrangements /
Sale & Purchase of Goods Sale & Purchase of Goods
transactions.
Duration of the contracts / arrangements / Financial Year Financial Year
transactions. 2021 – 22 2021 – 22
Salient terms of the contracts or
Transactions in ordinary course of business Transactions in ordinary course of business
arrangements or transactions including the
Value Rs. 1,89,16,756/- Value Rs. 4,33,81,326/-
value, if any.
Approval of Board not required pursuant to Approval of Board not required pursuant to
Date(s) of approval by the Board. the provisions of third proviso to sub section the provisions of third proviso to sub section
1 of section 188 of companies act, 2013. 1 of section 188 of companies act, 2013.
Amount paid as advances, if any. - -
Annual Report
2020 – 21
PART – B: Details of Transactions with Related Parties – With Individuals
Names(s) of the related party and Parakramsinh G. Sahadevsinh L. Vikramsinh R.

Kamlesh S. Solanki Maulik B. Gandhi
nature of relationship. Jadeja Jadeja Rana
Nature of contracts / arrangements / Directors’ Directors’ Directors’ Employee Benefit Expense Employee Benefit Expense
transactions. Remuneration Remuneration Remuneration (Remuneration) (Remuneration)
Duration of the contracts / arrangements April 1, 2021 to April 1, 2021 to April 1, 2021 to April 1, 2021 to March 31, April 1, 2021 to March 31,
/ transactions. March 31, 2022 March 31, 2022 March 31, 2022 2022 2022
Terms & Conditions as per
Terms & Conditions as per HR
Salient terms of the contracts or HR Policies of the Company.
As per Resolution Passed by Shareholders at their Meeting Policies of the Company.
arrangements or transactions including Remuneration Rs.
Held on 04.09.2017 Remuneration Rs. 8,46,002/-
the value, if any. 13,46,328/- Paid During the
Paid During the Year.
Year.
Date(s) of approval by the Board. 04.08.2017 04.08.2017 04.08.2017 - -
Amount paid as advances, if any. - - - - -
PART – B: Details of Transactions with Related Parties – With Individuals (Conti……..)
Names(s) of the related party and

Jagdish L. Jadeja Bhavesh L. Jadeja Bhavesh S. Solanki Hitesh S. Solanki
nature of relationship.
Nature of contracts / arrangements / Employee Benefit Expense Employee Benefit Expense Employee Benefit Expense Employee Benefit Expense
transactions. (Remuneration) (Remuneration) (Remuneration) (Remuneration)
Duration of the contracts / arrangements April 1, 2021 to March 31, April 1, 2021 to March 31, April 1, 2021 to March 31,
April 1, 2021 to March 31, 2022
/ transactions. 2022 2022 2022
Terms & Conditions as per Terms & Conditions as per Terms & Conditions as per
Terms & Conditions as per HR
Salient terms of the contracts or HR Policies of the Company. HR Policies of the Company. HR Policies of the Company.
Policies of the Company.
arrangements or transactions including Remuneration Rs. Remuneration Rs. Remuneration Rs.
Remuneration Rs. 3,53,600/-
the value, if any. 9,51,600/- Paid During the 8,10,493/- Paid During the 4,10,600/- Paid During the
Paid During the Year.
Year. Year. Year.
Date(s) of approval by the Board. - - - -
Amount paid as advances, if any. - - - -
Annexure III
CONSERVATION OF ENERGY:
Total energy consumption and energy consumption per unit of production:
1. Energy conservation measures taken:
The efforts have been made at level to conserve the energy and reduce the cost thereof.
The company has selected “Energy Saving” as one of the criteria in “5S Management
Practice” adopted by the company and during periodic review, proper emphasis been
placed on its compliance.
2. Additional investments & proposal for reduction of consumption of energy:
During the year, there was no fresh investment made in reduction of consumption of
energy. The focus of the company was on effective utilization of existing facilities so as
to reduce energy consumption.
3. Impact of the above measures:
By continuous effort, the company was able to reduce the consumption of energy.
(A) Power and Fuel Consumption:
Electricity:
Particulars 31st March, 2022 31st March, 2021
Total Amount of Electricity Consumed 11,49,34,168 8,23,09,131
Consumption of Electricity Units 1,32,93,902 91,93,148
Rate / Unit 8.65 8.95
(B) Consumption Per Unit of Production:
Particulars 31st March, 2022 31st March, 2021

Number of Machine Produced* 6454 4387
Electric Units Consumed Per Unit of Production 2060 2096
TECHNOLOGY ABSORPTION:
1. Areas in which Research & Development is carried out:
Your company has its own R & D Centre alongside its manufacturing facility at Metoda,
Rajkot. The R & D Centre is staffed with more than 80 full-time qualified engineers.
During the year, the company has focused more on customization and fully tooled up
solutions products alongside upgrading dynamically existing products to sustain in the
market as well as to meet rapidly changing customer expectation. The efforts were also
made towards backward integration in production supply chain.
2. Benefits derived as a result of the above efforts:
During the year, the major projects completed by R & D Centre of the company are
enlisted below.
CNC turning Centers : AX300-1225

VST160
Vertical Machining Centers : VMC1370
3. Future plan of action:
All existing products needs to be upgraded dynamically to sustain in marketplace and

rapidly changing customer’s expectations. To support Make in India movement and
reduce cost major work has been done in backward integration in production supply
chain. Further, the company is also planning to develop products which can substitute
imported products.
4. Expenditure For Research & Development:

(Rs.in Lakhs)
1. Revenue Expenses Rs. 167.96
2. Capital Expenditure Rs. -
================
3. Total Research & Development Expenditure Rs. 167.96
4. Total Research & Development Expenditure
As a % to Revenue from Operations 0.24 %
FOREIGN EXCHANGE EARNING & OUTGO:

(Rs.in Crores)
Foreign Exchange Earned Rs. 61.06

Foreign Exchange Outgo Rs. 35.78

Jyoti CNC Automation Limited
Sd/-
Chairman

Annexure IV
SECRETARIAL AUDIT REPORT

[Pursuant to section 204(1) of the Companies Act, 2013 and rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
For the Financial Year Ended on March 31, 2022
To,
The Members
Jyoti CNC Automaton Limited
G -506, Lodhika GIDC, Vill: Metoda
Rajkot-360021,
Gujarat, India
I have conducted the secretarial audit of the compliance of applicable statutory provisions and
the adherence to good corporate practices by M/s. Jyoti CNC Automaton Limited (CIN:
U29221GJ1991PLC014914) (hereinafter called the Company). Secretarial Audit was
conducted in a manner that provided me a reasonable basis for evaluating the corporate
conducts / statutory compliances and expressing my opinion thereon.
Based on my verification of the Company’s books, papers, minute books, forms and returns filed
and other records maintained by the Company and also the information provided by the
Company, its officers, agents and authorized representatives during the conduct of secretarial
audit, I hereby report that in my opinion, the Company has, during the audit period covering the
financial year ended on March 31, 2022 (‘Audit Period’) complied with the statutory provisions
listed hereunder and also that the Company has proper Board-processes and compliance-
mechanism in place to the extent, in the manner and subject to the reporting, if any, made
hereinafter:
I have examined the books, papers, minute books, forms and returns filed and other records
maintained by the Company for the financial year ended on March 31, 2022 according to the
provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made there under;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
- (Not applicable)
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
(iv)Foreign Exchange Management Act, 1999 and the rules and regulations made
thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and
External Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange
Board of India Act, 1992 (‘SEBI Act’): - (Not applicable, as company is Unlisted
Company)
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011; - (Not applicable)
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 1992; - (Not applicable)
(c) The Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015; - (Not applicable)
(d) The Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009; - (Not applicable)
(e) The Securities and Exchange Board of India (Employee Stock Option Scheme and
Employee Stock Purchase Scheme) Guidelines, 1999 and The Securities and
Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; -
(Not applicable)
(f) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)
(g) The Securities and Exchange Board of India (Registrars to an Issue and Share
Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with
client; - (Not applicable)
(h) The Securities and Exchange Board of India (Delisting of Equity Shares)
(i) The Securities and Exchange Board of India (Buyback of Securities) Regulations,
1998 and - (Not applicable)
I have also examined compliance with the applicable clauses of the following:
(1) Secretarial Standards issued by The Institute of Company Secretaries of India (So far
issued and notified)
(2) The Listing Agreements entered into by the Company with Stock Exchanges (Not
applicable).
During the period under review, the Company has complied with the provisions of the Act,
Rules, Regulations, Guidelines, Standards, etc. mentioned above.
I further report that, having regard to the business and objects of the company, as per
representation given by authorized personnel of the company and as per my belief there is no
Specific Act and Law applicable to the Company.
I further report that, The Board of Directors of the Company is duly constituted with proper
balance of Executive Directors, Non-Executive Directors and Independent Directors. No change
took place in the composition of the Board of Directors during the period under review.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed
notes on agenda were sent at least seven days in advance, and a system exists for seeking and
obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting. All decisions at Board Meetings and Committee
Meetings are carried out unanimously as recorded in the minutes of the meetings of the Board
of Directors or Committee of the Board, as the case may be. Further, Office of honorable
Registrar of Companies has granted extension to held Annual General Meeting (AGM) w.r.t. FY
2020-21 till November 30, 2021. Accordingly, AGM was held on 30/11/2021. Few instances of
delayed filing of MCA forms were noted. Further, company has not accepted deposit from Public
nor from Shareholders, during financial year under consideration.
I further report that there are adequate systems and processes in the Company commensurate
with the size and operations of the company to monitor and ensure compliance with other
applicable laws, rules, regulations and guidelines.
For N S Dave & Associates

Practicing Company Secretaries
Place: Jamnagar
Date: 16/09/2022
UDIN: A037176D000983352 SD/-
Nandish Dave
Proprietor
ACS:37176, CP: 13946
Annexure to the Secretarial Audit Report dated 16/09/2022.
To,
The Members,
Jyoti CNC Automaton Limited
G -506, Lodhika GIDC, Vill: Metoda
Rajkot-360021,
Gujarat, India
My report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the

company. My responsibility is to express an opinion on these secretarial records based
on my audit.
2. I have followed the audit practices and processes as were appropriate to obtain
reasonable assurance about the correctness of the contents of the Secretarial records.
The verification was done on random test basis to ensure that correct facts are reflected
in secretarial records. I believe that the processes and practices, I followed provide a
reasonable basis for my opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of
Accounts of the company.
4. Wherever required, I have obtained the Management representation about the
compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable laws, rules,
regulations, standards is the responsibility of management. My examination was limited
to the verification of procedures on random test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the
Company nor of the efficacy or effectiveness with which the management has conducted
the affairs of the Company.
For N S Dave & Associates

Practicing Company Secretary
Place: Jamnagar
Date: 16/09/2022 Sd/-
Nandish Dave
Proprietor
ACS:37176,CP: 13946
Statement Containing Salient Features of Financial Statement of Subsidiaries
FORM AOC - 1
(Pursuant to first proviso of sub-section (3) of section 129 of the Act and Rule 5 of the
Companies (Accounts) Rules, 2014)
Huron Huron
Sl. Huron
Particulars Jyoti SAS Graffenstanden Frasmaschinen
No. Canada Inc.
SAS Gmbh
Reporting Period for
subsidiary concerned, if
different from the holding
1 company’s reporting period - - - -
2 Reporting Currency INR INR INR INR
3 Exchange Rate* 84.66 84.66 84.66 60.46
4 Share Capital 41,54,26,129 1,35,46,22,742 2,16,72,934 9,06,99,046
5 Reserves & Surplus 1,43,94,39,516 3,34,04,26,775 2,16,72,934 9,06,99,046
6 Total Assets 1,62,87,21,105 2,31,79,93,734 3,85,86,328 19,23,06,405
7 Total Liabilities 1,62,87,21,105 2,31,79,93,734 4,52,39,872 1,43,90,863
8 Investments 1,56,65,41,625 18,16,16,312 - -
9 Turnover - 1,36,67,19,117 5,97,12,912 48,76,684
10 Profit before taxation -29,48,74,749 -38,15,34,824 -96,93,369 72,52,659
11 Provision for taxation - - - -
12 Profit after taxation -29,48,74,749 -38,15,34,824 98,06,898 72,52,659
13 Proposed Dividend - - - -
14 % of shareholding 100% 100% 100% 100%

Sd/-
Chairman

ANNEXURE A
FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2021
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014.
I. REGISTRATION & OTHER DETAILS:

1 CIN U29221GJ1991PLC014914
2 Registration Date 17-01-1991
3 Name of the Company JYOTI CNC AUTOMATION LIMITED
4 Category/Sub-category of the Company COMPANY LIMITED BY SHARES
INDIAN NON - GOVERNMENT COMPANY
5 Address of the Registered office & contact details G - 506, LODHIKA GIDC, KALAWAD ROAD, VILL.: METODA, DIST.: RAJKOT - 360 021.
6 Whether listed company NO

7 Name, Address & contact details of the Share Transfer Agent, if
Link Intime India Private Limited
any.
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities contributing 10 % or more of the total turnover of the company shall be stated)
S. NIC Code of the % to total turnover of the
Name and Description of main products / services
No. Product/service company
1 CNC Machines and Machinery Parts 3571 & 3573
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

% of
Holding/ Subsidiary/ Applicable
SN Name and address of the Company CIN/GLN shares
Associate Section
held
1 Jyoti SAS N. A. Subsidiary 100 2(87)
2 Huron Graffenstanden SAS N. A. Subsidiary 100 2(87)
3 Huron Frasmaschinen Gmbh N. A. Subsidiary 100 2(87)
4 Huron Canada Inc. N. A. Subsidiary 100 2(87)
IV. SHARE HOLDING PATTERN

(Equity share capital breakup as percentage of total equity)
(i) Category-wise Share Holding
Category of
No. of Shares held at the beginning of the year No. of Shares held at the end of the year
Shareholders
[As on 31-March-2021] [As on 31-March-2022] % Change
during the
% of Total % of Total year
Demat Physical Total Demat Physical Total
Shares Shares
A. Promoters
(1) Indian
a) Individual/ HUF 98,23,776 98,23,776 33.32% 98,23,776 98,23,776 33.32% 0.00%
b) Central Govt - 0.00% - 0.00% 0.00%
c) State Govt(s) - 0.00% - 0.00% 0.00%
d) Bodies Corp. 41,94,200 41,94,200 14.23% 41,94,200 41,94,200 14.23% 0.00%
e) Banks / FI - - 0.00% - 0.00% 0.00%
f) Any other (Firm) - - 0.00% - 0.00% 0.00%
Sub Total (A) (1) - 1,40,17,976 1,40,17,976 47.55% - 1,40,17,976 1,40,17,976 47.55% 0.00%
(2) Foreign
a) NRI Individuals - - 0.00% - - - 0.00% 0.00%
b) Other Individuals - - 0.00% - - 0.00% 0.00%
c) Bodies Corp. - - 0.00% - - - 0.00% 0.00%
d) Any other - - 0.00% - - - 0.00% 0.00%
Sub Total (A) (2) - - - 0.00% - - - 0.00% 0.00%
TOTAL (A) - 1,40,17,976 1,40,17,976 47.55% - 1,40,17,976 1,40,17,976 47.55% 0.00%
B. Public
1. Institutions
a) Mutual Funds - - - 0.00% - - - 0.00% 0.00%
b) Banks / FI - - - 0.00% - - - 0.00% 0.00%
c) Central Govt - - - 0.00% - - - 0.00% 0.00%
d) State Govt(s) - - - 0.00% - - - 0.00% 0.00%
e) Venture Capital - - - 0.00% - - - 0.00%
Funds 0.00%
f) Insurance - - - 0.00% - - - 0.00% 0.00%

g) FIIs - - - 0.00% - - - 0.00% 0.00%
h) Foreign Venture - - - 0.00% - - - 0.00%
Capital Funds 0.00%
i) Others (specify) - - - 0.00% - - - 0.00% 0.00%

Sub-total (B)(1):- - - - 0.00% - - - 0.00% 0.00%
2. Non-Institutions
a) Bodies Corp. 1,34,10,750 - 1,34,10,750 45.49% 1,34,10,750 - 1,34,10,750 45.49% 0.00%

i) Indian 1,34,10,750 1,34,10,750 45.49% 1,34,10,750 - 1,34,10,750 45.49% 0.00%
ii) Overseas - 0.00% - - - 0.00% 0.00%
b) Individuals 11,83,000 8,67,640 20,50,640 6.96% 12,21,000 8,29,640 20,50,640 6.96% 0.00%
i) Individual
shareholders
holding nominal - - - 0.00% - - - 0.00% 0.00%
share capital upto
Rs. 1 lakh
ii) Individual
shareholders
holding nominal 11,83,000 8,67,640 20,50,640 6.96% 12,21,000 8,29,640 20,50,640 6.96% 0.00%
share capital in
excess of Rs 1 lakh
c) Others (specify) - - -
Non Resident - - 0.00% - 0.00% 0.00%
Overseas Corporate - - - 0.00% - - 0.00%
0.00%
Bodies
Foreign Nationals - - 0.00% - - 0.00% 0.00%
Clearing Members - - 0.00% - - 0.00% 0.00%
Trusts - - 0.00% - - 0.00% 0.00%
Foreign Bodies - D R - - 0.00% - - 0.00% 0.00%
Sub-total (B)(2):- 1,45,93,750 8,67,640 1,54,61,390 52.45% 1,46,31,750 8,29,640 1,54,61,390 52.45% 0.00%
Total Public (B) 1,45,93,750 8,67,640 1,54,61,390 52.45% 1,46,31,750 8,29,640 1,54,61,390 52.45% 0.00%
C. Shares held by
Custodian for GDRs - - - 0.00% - - - 0.00% 0.00%
& ADRs
Grand Total 1,45,93,750 1,48,85,616 2,94,79,366 100% 1,46,31,750 1,48,47,616 2,94,79,366 100.00% 0.00%
(ii) Shareholding of Promoter

Shareholding at the beginning of the year Shareholding at the end of the year
% change in
% of Shares shareholding
SN Shareholder’s Name % of total % of Shares
% of total Pledged / during the
Shares of Pledged/
No. of Shares No. of Shares Shares of the encumbere year
the encumbered
company d to total
company to total shares
shares
1 Parakramsinh G. Jadeja 75,77,196 25.70% 0 75,77,196 25.70% 0 0.00%
2 Sahadevsinh L. Jadeja 13,37,080 4.54% 0 13,37,080 4.54% 0 0.00%
3 Vikramsinh R. Rana 9,09,500 3.09% 0 9,09,500 3.09% 0 0.00%
4 Jyoti International LLP 41,94,200 14.23% 0 41,94,200 14.23% 0 0.00%
TOTAL 1,40,17,976 47.55% 0 1,40,17,976 47.55% 0 0.00%
(iii) Change in Promoters’ Shareholding (please specify, if there is no change)

Shareholding at the beginning of the year Cumulative Shareholding during the year
SN Particulars Date Reason
% of total % of total
No. of shares No. of shares
shares shares
1 At the beginning of the year 01.04.2021 1,40,17,976 47.55%
2 Changes during the year - 1,40,17,976 47.55%
4 At the end of the year 31.03.2022 1,40,17,976 47.55%
(iv) Shareholding Pattern of top ten Shareholders
(Other than Directors, Promoters and Holders of GDRs and ADRs):
SN For each of the Top 10 Date Reason Shareholding at the beginning of the year Cumulative Shareholding during the year
shareholders
No. of shares % of total No. of shares % of total
shares shares
1 Name: Eknath Infracon LLP
At the beginning of the year 01.04.2021 1,34,10,750 45.49% 0.00%
Changes during the year 0.00% 1,34,10,750 45.49%
At the end of the year 31.03.2022 1,34,10,750 45.49% 0.00%
2 Name: Shyamalram Shekhran

At the beginning of the year 01.04.2021 3,38,800 1.15% 0.00%
Changes during the year - 0.00% 3,38,800 1.15%
At the end of the year 31.03.2022 3,38,800 1.15% 0.00%
3 Name: Kaushik D. Solanki

Changes during the year Transfer 0.00% 2,88,940 0.98%
4 Name: Nitin Anantrai Vora

Changes during the year 0.00% 2,00,000 0.68%
5 Name: Heman Hiralal Shah

6 Name: Sujal Hialal Shah

7 Name: Praful N. Shah (HUF)

8 Name: Chetana Nitinkumar Vora

9 Name: Kumar N. Shah (HUF)

At the beginning of the year 01.04.2021 93,000 0.32% 0.00%
Changes during the year - 0.00% 93,000 0.32%
At the end of the year 31.03.2022 93,000 0.32% 0.00%
10 Name: Kumar N. Shah

Changes during the year Transfer - 0.00% 80,000 0.27%
At the end of the year 31.03.2022 80,000 0.27% 0.00%
11 Name: Kanchanben A. Vora

Changes during the year 80,000 0.27% 1,60,000 0.54%
(v) Shareholding of Directors and Key Managerial Personnel:

Shareholding of each Shareholding at the beginning of the year Cumulative Shareholding during the year
SN Directors and each Key Date Reason
% of total % of total
Managerial Personnel No. of shares No. of shares
shares shares
Managerial Personnel No. of shares No. of shares
shares shares
1 Parakramsinh G. Jadeja
At the beginning of the year 01.04.2021 75,77,196 25.70% 75,77,196 25.70%
At the end of the year 31.03.2022 75,77,196 25.70% 75,77,196 25.70%
2 Sahadevsinh L. Jadeja
Changes during the year - 0.00% - 0.00%
3 Vikramsinh R. Rana
4 Kamlesh S. Solanki
At the beginning of the year 01.04.2021 36,000 0.13% 36,000 0.13%
At the end of the year 31.03.2022 36,000 0.12% 36,000 0.12%
V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment.
Secured Loans excluding

Particulars Unsecured Loans Deposits Total Indebtedness
deposits
Indebtedness at the beginning of the financial year
i) Principal Amount 5,21,91,06,460 31,44,29,134 - 5,53,35,35,594.00
ii) Interest due but not paid - - - -
iii) Interest accrued but not due 62,90,024 - - 62,90,024.00
Total (i+ii+iii) 5,22,53,96,484 31,44,29,134 5,53,98,25,618.00
-
Change in Indebtedness during the financial year
* Addition 2,90,81,27,679 90,07,77,502 - 3,80,89,05,181
* Reduction 2,66,98,15,426 72,92,88,442 - 3,39,91,03,868
Net Change 23,83,12,253 17,14,89,060 - 40,98,01,313
Indebtedness at the end of the financial year
i) Principal Amount 5,47,92,83,156 53,42,16,854 - 6,01,35,00,010
ii) Interest due but not paid - - - -
iii) Interest accrued but not due 70,43,608 - - 70,43,608
Total (i+ii+iii) 5,48,63,26,764 53,42,16,854 - 6,02,05,43,618
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
Total
SN. Particulars of Remuneration Name of MD/WTD/ Manager
Amount
Name Parakramsinh G. Jadeja (Rs/Lac)
Designation Managing Director
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax
1,20,00,000 120.00
Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 - -
2 Stock Option - -
3 Sweat Equity - -
Commission -
4 - as % of profit - -
- others, specify - -
5 Others, please specify - -
Total (A) 1,20,00,000 120.00
Ceiling as per the Act 126.15
Total
Amount
Name Sahadevsinh L. Jadeja (Rs/Lac)
Designation Whole Time Director
1 Gross salary
78,00,000 78.00
Act, 1961
2 Stock Option - -
3 Sweat Equity - -
Commission -
5 Others, please specify - -
Total (A) 78,00,000 78
Ceiling as per the Act - 126.15
Total
Amount
Name Vikramsinh R. Rana (Rs/Lac)
Designation Whole Time Director
1 Gross salary
45,00,000 45.00
Act, 1961
2 Stock Option - -
3 Sweat Equity - -
Commission -
5 Others, please specify - Reimbursement -
Total (A) 45,00,000 45.00
Ceiling as per the Act - 126.15
B. Remuneration to other Directors NOT APPLICABLE

Total
SN. Particulars of Remuneration Name of Directors
Amount
Vijay Paranjape Yogesh Kathrecha (Rs/Lac)
1 Independent Directors - - -
Fee for attending board committee meetings 60,000.00 80,000.00 - 1.40
Commission - - - -
Others, please specify - - - -
Total (1) 60,000.00 80,000.00 - 1.40
2 Other Non-Executive Directors Rajshreeba P. Jadeja Rikesh U. Chand - -
Fee for attending board committee meetings - - - -
Commission - - - -
Others, please specify - - -
Total (2) - - - -
Total (B)=(1+2) - - - -
Total Managerial Remuneration - - - 244.40
Overall Ceiling as per the Act - 277.53
C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD

Total
SN. Particulars of Remuneration Name of Key Managerial Personnel
Amount
Name Kamlesh S. Solanki Maulik B. Gandhi (Rs/Lac)
Designation CFO CS
1 Gross salary 13,46,328 8,46,002 21.92
- - -
Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 - - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 - - -
2 Stock Option - - -
3 Sweat Equity - - -
Commission - -
4 - as % of profit - - -
- others, specify - - -
5 Others, please specify - - -
Total 13,46,328.00 8,46,002.00 21.92
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of Brief Description Details of Penalty / Authority [RD / NCLT/ Appeal made, if any (give
the Punishment/ COURT] Details)
Companies Compounding fees
Act imposed
A. COMPANY
Penalty
Punishment N.A.
Compounding
B. DIRECTORS
Penalty
Punishment N.A.
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment N.A.
Compounding
For, Jyoti CNC Automation Limited
Sd/- Sd/-
Parakramsinh G. Jadeja Vikramsinh R. Rana
Date: February 19, 2023 Managing Director Whole Time Director
Place: Metoda, Rajkot DIN: 00125050 DIN: 00125079
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INDEPENDENT AUDITOR'S REPORI
The Membe6 olJyotiCNC Automation Linited,
Repod on the Audit of Stan da lone FinancialStalements
We have audted lhe accompanying standalone financal staleme.ts of Jyoti CNC

Aulomaton Lmiled ( lhe Company ) which comprise lhe Ba ance Sheel as al31s'I'4arch,
2022 lhe Statemenl oI Piofil afd Loss (ncluding othet comprehensve ncome), lhe
Statemeftoichanges ln Equity and the slalemefl olcash Fows iorthe yearlhen ended.
afd noles lo slandaone inancal stalemenls. includng a sumffary of sgnfcant
accolntifg po cies and olher expanatory niormation (heren reiered to as the Flnancal
n our opin on and to lhe best otour inlormation afd accord ng lo lhe explanal ons given lo
us, the aloresad slandalone financia statemenls gile lhe niormalron requred bv the
Companies Acl, 2013 if lhe mafner so reqL red and g ve a true and iair view rn co.rorm lv
wilh the ac@unlng principles generaly accepted in ndia oi lhe stale of affa rs oi lhe
Company as al March 31,2022. a.d its prolil lola comp.ehensive income the changes n
equ ry a.d ts cash flows ior (he year ended on that dale
We cofdlcled our audil in accorda.ce wiih the Slandards on Audiung (SAs) specled
under secro. 143(10) oi lhe companies Acl 2013. ou responsibiilies under those
srandads ae iunher descrbed in lhe Auditors Responsblles ior the Audl or the
Fnancia stalemenls section of olr report. we are ndepeident oi the companv n
accordance wlh the Code oi Ethics issued bv the Inslitute of Chadered Accounlanls ol
hdia loselher wllh lhe ethica requiremenls lhal are reevant lo our audl oflhe iinancia
slalemenls under lhe provsions of the companies Acl, 2013 and Ihe Ru es lhereufder'
and we have fuiiled our other elhical responsblles in acco.dance wLlh lhese
requiremenls and the Code oI Elhcs We be ieve that the audit evirlere we n:ve
ooiarn-o r, sur 'i"rr ,ro :po op d'rop,o oedoa,.ro o'| oo o
-.x \
X:;--'.\
Altention is nvited to Nole 44 oflhe accompanyng slandalone financ al slatemenls wh ch
ifdrcales lhal the subsd ary company has accumulated losses and ils nel wonh has been
eroded. These cofdtions along wlh orher matlers set loith n Note 44 ndicate the
exslence ol malerlal uncertaifty thal may impacr the subsdary company's abiily to
contnue as a gong concer.. However lhe linanclalstatements oithe subsldiary company
have been prepared on gong cofcern basis and acco.ding y carrying value inlestmenis
oans and other recoverabe are nol impaned and are consdered good and recoverable
lorthe reasons stated n lhe sad Note
Our op nion is nol qua ilied in respectolthis maller.
Tlre Company's managemenl and Board ol Direclors are responsible ror the olrrer
iniormaron. The olher nformation may comprse lhe nlormaton incuded ln lhe
Company s annoalrepon but does nol include the slanda ofe ifancialslalenents and our
auditofs repon thereon
OLr opnion on the standaone iinanca stalemenls does nol cover the olher iniormation
and wedo nol express afy lorm ofassurance concusron lhereon
licof.eclionwthourauditoithefnancralslatemenls ourrespo.sblly storeadthe

other inlormalon identiied above when it becomes availabe and. in doin! so co.slder
whelherlhe othef intormalion s malerialy inconsslentwlh lhe ilnanca slatements orou.
knowledge oblained in the audit orolheNiseappearslobemalerialymisstate.r'
When we read lhe olher rniormalion report if we conclude lhat there s a malera
m sstalement therein, we are requ red lo communrcate the matter lo those charged wlh
governancelo ifrliate aclions applicabe in Ihe applcab e aws afd regulalons
Responsibilities of Management and Those Charged with Governance lor the
The Companys Board of Dreclors is responsble lor lhe nralters stz

oi rhe companies Act, 2013 ("lhe Act) wlh respecl to lhe preparc
sla.dalone tnafc a stalemenls lhal gives a true and fairveworl
iinancial performance (changes in equily) and cash iows of lhe Cor
wirh the accounung princples gene.aly accepted in ndia, inclu
standards specilied under section 133 of the Act This respon
maintenance ol adequate acco!ntrng records
tor safeglading of the assets of the Conpanv and ror prevenlfg
and olher irregularltesi selection and applicalon oi appropriale
maklng tudgments and eslmales lhat are reasonable and pr
npemenlation afd malnlenafce of adequ.te nlernal financal conros thtt-'y!E{-\l\
operal ng eifectively ior enslring lhe accura.y and competeres s or rhe r@pning \r.I
li*1W1.l] iril
\:4. !"/
vQiL,!
records relevani lo lhe preparation and presentaton ofthe financialslatemenl lhat g ve a
trueand tanviewand areiree irom nraleria misslatemenl. whelherdue to fraLd ore(or
n preparing lhe iinancal slatements managemenl is responsible for assessng the

Company's abilty to conlinue as a golng concern disclosing as applcable. mallers
relaled to soing concern and usng the going concern basis ot accounling u.less
managenent either intends to iquidate lhe company or to cease operalons or has no
realstc alernative bul to do so. Those Board of Dtreclors are also responsible lor
overseeifg lhe companys f nanc alrepodng process
Auditor's Responsibilities forthe Auditofthe standalone Financial Slatements

Our objeciives are to oblain reaso.able assurance about whethe.the slandalone linanca
slalenents as a whole are free from maleria nrisslalemenl. whether due 10 lraud or eiror,
and to issue an aud lois.epod Ihal lncludes our opnlon Reaso.abeassurance is a higlr
( evelolassurance blt s nol a guarantee lhat an audil conducied n accordance wth SAs
willalways detect a materal misstalemenl when lexsts Msstatemenls can a.ise tom
fraud or eror and are consrdered materalil indivdually or rn lhe aggregale. they coud
reasonablv be exDecled lo infuence lhe ecofodic decis o.s of users laken on Ihe basis of
lhese fi nancia slalements
As pan ot an aldit in accordance wlh SAs we exercse proiessional judgment and

mainlan proiessona skeplcism lhroLghoutthe aud L We a so:
. denlit and assess the rsks ol malerlal hisstatemenl of lhe slandaone fnanclal
slalemenls whether due lo frald or eiror desgn afd perform audl procedures
responsive to lhose rsks, and oblain audt evdeice lhat is suiicient a.d
appropdale to provide a basrs tor oLr opin on The risk ol nol delecling a mate.ar
misstalemenl resullng from naud s higlrer than ior o.e resutifg from ercr. as
fia!d may nvolve collrsof torgery nlenlonal omssions misrepresenlalions or
the ovenide ot inlernal conlro
r
Evaluale the approprateness ol accounting polcies used afd lhe .easonableness
olaccounling estimales and re ated d sclosures made by ffa.agemefl
oblain an u.dersta.dng oi interna conlrol relevant lo lhe audit in order Io desgn

aud I pro@d!res lhat are appropriate n lhe cncumstafces Under sectlon 143(3Xl)
oilhe companies Acl 2013, we are also responsible ror expressng our opr on on
whether lhe compa.y has adequale intemal iinancial conlrols sysiem rn place and
lhe operaling eftectileness ofsuch contro s
Conclude on the appropialeness of managemenls use oilhe going concern bas6

of accounling and based on the aldl evidence obtained, whelhef a malerlal
uncerlainry exsts realed to evenis or condilions that may cast sign lcant doubt on
lhe Companys abilily to conlnue as a go ng cofcerf.liwe corclde lhat a ma
unce.rc n, F'lq wed,e cqur6o,o.rrcx cr'.
,etarpd o')( osJre< i r e tldn,,a qir'4^ p.ls or J ,- .1 di'" 's9y'd'os>
lo&,i+ d'e '.
{rl
nadequate,lo mod fo ouropin on Ourconclusons are based on lhe aud( evldence
obla ned up to the date ofour audilors report. However, iulure events orcondilions
may cause the company to cease Io contrnue as a 9orn9 concern.
Evauate lhe overalpresentalion. slruclure and conlent ot the standa one tinafcal
stalements including the dscosures and whelher lhe slardaone financia
statements represeft lhe underlyrfg transactons and events In a manner thal
achreves f an p€senlalion
We conmunicate wlh those charged with governance regardng among olher matters
the panned scope and timing of the audil and signifcant audil fndngs, nclding any
signilicanldeicences n inlernalconkolthalweidentifydu.ng ouraldl
We also provide lhose charged with govenance with a slalement lhat we have compred
wilh relevanl elhcal requrements regarding irdepefdence and lo communcate wiih
them all relalionships afd other matters thal may reasonaby be lhought lo bear on olr
independe.ce, and whe.e applcable, related sareguards
The iinancial stalements of Jyot CNC Automalon Limiled tor lhe vear ended March31.
2021, were audiled by anolher auditor who vde Repon daled November 20.2021
erpressed a. unmodilied opif of on lhose slalements of lllarch 31 2021
ReportonOtherLegal and RegulatoryRequiremenls

1) As requifed bylhe Companies (Audilors Repon) Order 2020 ( lhe Order'). issued
by the ceftraL Govemmenl oi lndia in terms ot sub-section (11) ot section 143 ol
the companies Acl 2013. we glve in lhe Annex!re "A" a slatemenl on the matters
speciiied i. paragraphs 3 and 4 oflhe Order lolheexlentapprcabe
(
2) As required by secllon'143(3)ollhe Act we fepod th,r
a) we have soughl a.d oblained a the niormation and expanalons which to Irre
bestofour knowedge and beiietwere necessary ior the purposes ol our aud
h our opinion proper books ol account as requ red bv aw have been kepl bv the
Company so far as it appears tom o!rexamination oflhose books.
The standalone Baance Sheel. the slandaone stalemenl ol Profit and Loss
(includfg olher comprehensve Income),lhe standalone stalemenl of changes ii
Equity a.d lhe Cash Flow Slalement dealt wlh bv this Reporl are in agreemenl
wilh the books oi accounls
d) ln our opnion. lhe aioresaid standaLone linanclal sbtemenls

Accounting Standards speciiied under Secllon 133 ot ihe a.l
ffi
e) On the basis of lhe wrllen representatrons receved from the dnecbrs as on 315'
March, 2022 laken on .ecord by lhe Board or Dnectors .ofe or the direclors is
disqua ilied as on 31st March, 2022 from be.9 appo nted as a d reclor ln tems oI
Seclion 164 (2) of lhe Acl
Wilh respecl lo lhe adequacy of lhe inlernal fnancial conlrols wrlh .elerence lo
standaone financialstalemenls ol the Company and lhe operalnO ettecliveness oi
such conl.o s. reter lo ourseoarale ReDon in Annerure B'
g) l. olr opinion ihe managerial€muneration iorthe yeare.ded March 31,2022 has

been pa d/provided by lhe Company to ls d reclors n accordance with the
provis ons of section 197 read with ScheduleV lo the Acl
h) Wth respecl to the olher mallers lo be ncuded . lhe Audloas Reporl in

accordance wilh R! e 11 oflhe Compan es (Audil afd Audito.s)Rues,2014. in our
opinlon and to lhe besl of our inlormalion and accoding to lhe expanalions 9ven
The Company has disclosed lhe impacl of pendlng llgations on ls frnancial

poslion n lls slanda one iinancalstalements - Refer Note 35 Contingenl
Llabiil es and caprlal commirments to the linancalslatemenlsi
The Company has made provisiof as req! red !nder the app icable law or
accolnting standards. for materal to.eseeabe losses, of ong'lem
contracls. if any, includng dervalve contraclsl
iri. There were no amounts wh ch wee requned to be trafstetred to the lnvestor

Edlcation and Protection Fufd by lhe company
iv (a) The Managehent has represenled lhal. to rhe best oi ts knowedge

and be ief, durlng lhe yea. no runds (which are malerialerlher rndivdualy or
n lhe aggregate) have been advanced or loa.ed or lnvested (either tom
botrowed funds or share premum or any olher sources or kind ol funds)by
Ihe Company lo or in any olher person or enlty ifclldfg foregn enlity
("litermediaries') wlh lhe unde6tandifg, whelher recorded n wrlLng or
olheMise Ihal lhe Intermediary shall. whether. direclly or fd reclly lend or
nvest in olher persons o. enlilies idenl ied in any manner whalsoever bv or
on behai of the Company ('Ullmale Benenciares ) or provide anv
guaraftee, security or the Lke on behall oflhe lJltimale Benelic ar esi
(b) The Management has repesented, lhal lo the best of its knowedge
afd belef during lhe year no funds (which are malelalerlher ndivrdualy or
in the aggregale) have beef received by the Company lrorn any person or
ently ncudifg foreign enlly (Flfdrng Parlies'). wth lhe
whether recorded in w.lifg or olhetuse lhal Ihe Company +a L vAerh9\,\
direclly or indirecuy, lend or invesl in other persons or entities identilied in
a.y manne. whalsoever by or on behalf oi rhe Funding Pany ( ullimale
Eeneliciades') or provide any guaranlee, security o.lhe ike on behafof lhe
(c) Based on lhe audil procedlres lhat have been considered reasonable
and appropriaie in the circumslan@s, nothing has come lo our notce lhat
has caused us lo believe lhal lhe epresenlalions under sub cause (i) and
lii) or Rule 11(e), as provided under (a) and (b) above, conta n any malerial
The Cornpany has noideclarcd orpaid anydividend duing lhe year.
For lM/s G.K, Choksi& Co,

Chartered Accountanis
C Firm Reg. No.125442w)
Dale.0A07D022
UDIN: 220334024MsT8G5449
C
ANNEXURE 'A' TO THE INDEPE N DENT AUOITOR'S REPORT
(Refered 1o in paragraph 2 under'Report on Other Legat and Regutatory
Requirements' section of our report to the tMembers oI Jyori CNC Automation
Limited of even date)
To the besl ol our irformaton and accord n9 to lhe erplanations proli.ted ro us by
the Company and the books of accout and records €xamined by us in Ihe norma
course ofaudn, we state thai
h respecl oflhe Company's Property, Panl and Equipmenl and ntangbeAssets

(a) (A) The Compaiy has mantafed proper records showins rut padicu ars.
includ fg quanlitative delais and sitlatio. otPropeny, Planrand Eq! pmenr.
1B) The Company has marntained poper records showng futpartcutars oi
(b) Accordng lo informalion and erpanalons gven lo us fixed assers have bee.
physlcaiy veriled by the management according to the reguiar program'ne ot
periodica verfication in a phased manne., which I o!r opinion s reasonabie hav f9
regard lo lhe size of lhe Company and the nature ol its fxed assels No male.ial
d screpancies were folced on slch verficalion
(c) According to ntormal on afd exp analions givef lo !s ard on lhe basis or olr
examination otlhe records ol the Conrpa.y. the tiue deeds of mmovable properties
are held in lhe name oflhe Company.
(d) Accoding lo niormalion and expanalions given to !s. The Company has not
revaled any of ils Properly Plant and Equipmeft and inlangbe assets incuding
Right of Use Assets during the year.
(e) Accord fg lo nformalon and explafalons given to os no proceedings have been
lnilated during the year o. are pending against the Company as at Nlarch 31 2022
ior hodn9 any benami properly under lhe Benaml Transaclions (Prohibiton) Act
i988 (as ame.ded in 2016) and tu es made lhereu.der, and lhereiore the qleslion
of olr commenlng on whether lhe Company has appropraley d scosed ihe dela ls
in its inanc a statements does notanse.
i (a)According to inlormatlof and expanalons g ven lo us the invenlory has been

phys caly veriied by the managemeft al reasofable rnlerva s dur fg the yea.. In
o!ropinion the frequefcy oi verilcalon is reasonable The d screpancles noticed
on physlcal verilcalion of stock as compared to book records were noi materia
and lhe same have been properlydea twth in lhe books or acco!nl
(b) Durins the year the Company has been sanctioned e. renewed working
caplal mlts in excess of - 5 crore I aggregale, irom banks on tlre basis oi
sec!rily ot cLnent assels According lo the fformatiof and explanatrons grven lo
!s and the records of lhe Company examined by us we repon thal when
compared wilh the books of accodnts ditierences were forced n the quarlery
slock slalemenls subm tted to the banks. However looking 1o lhe size and volume
of ihe operations lhe same are conside.ed to be immalera afd henca.e::..
,epor n9 .'Fq, eo \,/
iii. According to Ihe lrformalion and erpanations ven to us and on rhe basis of o!r
I
examifallon ot lhe records ol lhe Company the Company has nol srood
gLarantee grven any seclnty or advance rn falure of oans in compan es irms
limited lablity parl.ership or any other parles The Company has made
Invesrmenrs and 9ranled roans to compan es and otherparties in respecrofwh ch
lhe requisite information is as berow
(a) Based on the audil procedures canied on by us afd as per the niorhalonand
explanations gven to us lhe compafy has provided oans 1o ls enrptoyees
aggregalng 1o Rs 2.18 35,944/ The employee /oans oltstanding as at yeal
end amolfred to Rs.4 76,78 400/-
(b) n respect oilhe afor€said inveshenls a.d oans based on the niomalion
and explanation provded, lhe lerms and condlrons unde. which such
were granted are not preludrcial Io lhe
Company s inlerest
(c) Accordiig to lhe nformalon and expla.a|ofs givef to us and on the bass of
our examinalion oflhe records oi the Company. in the case of oans gilen, n
our opinion the.epayment of prncipal and payhent of flerest has bee.
slpulaled a.d lhe repaymenls or recepts have been reguar Fldher the
Company has not glven any advance in the nat!re of oan to any pady d!ring
(d) Accordlig lo lhe informalon and erpafalons given Io us and on lhe basis of
our examinalion of lhe records of lhe Conrpany there is no overaue amolnt
tor more Ihan .inety days i. respecl ot loans givef Flrther. lhe Company has
notgivef any advances n the natlre of oans to any parly dlrlng the year
(e) Acco.ding to lhe nformalon and explafalons give. Io us and on the basis oi
our examination of lhe .ecords ol the Compa.y no loans granted by the
Companywh ch has ialen due during lhe year has beef renewed orexte.ded
or tesh loans graited 1o setlle the over dles of etislng oafs gvef lo lhe
(0 The Company has iot granted any oans or advances in lhe .alure of oans
elher repayable on dema.d or wthoul specify ng any terffs or period of
repayment doring the year Hence, .eporang ufder clause 3(ii)(f) C .ot
v. In our opinion and accord .g lo the ntormalion and explanatons gven Io us lhe
Company has complied with lhe prov s ons oi Sectio. 185 and 186 oI the Act wilh
respecltolhe loans and nvestments made
v. According io
nlormalon and explanauons gven to us, the Company has nol
accepled any deposts lrom lhe plblc with n lh€ nrean ng ofthe dtreclves ssued by
lhe Reserve aa.k of nda, p.ovisions ot Seclon 73 to 76 of the Act any other
reevanl provislons oflhe Act and the reevaft rlles framed lhereunde. Accord ng y,
paragr.ph 3 (v) oilhe Order s not applcabe lo lhe Company
vi According lo the information and erpanations given to !s, p!rsuanl to the
made by lhe Central Governmenl of Lno6.
lndia. rne
the uompany
Company rs requned to ma.tarn
is requtre
records as speciied under Section 148(l) oi Ihe Acl in respecl oi ts producltln
have b.oadly revlewed the same and are ol lhe opiniof thal prima facip;l
'':
prescribed accounls and reco.ds have been made a.d franlain€d. We have not
howevef, made a detailed exannalof ol the records with a view 1o determ ne
whelher they are accurale or comp ete
v i ln.espect of slalutory duesl
(a) Accordi.g lo lhe info.matiof and the explanations given lo us lhe Company ts
nregularin depositin9 undisp!led slalulory dues includng provdent fund
ncone-lax, goods and servce tax cess and olher starliory dues as
applcable with the approprale aulhoriles. However, there were.o undisputed
amoufts payabe in respect of, goods and seoice lax cess and any other
male.ial slalulory dues in anears as al 31 [4a.ch 2022 for a perod of mo.e
than six monlhs from lhe dale ihey became payab e
(b) Accordlns to lhe .Ionnalrof afd

explanauons g ven to !s and the records
oflhe Codpany examined by us lhere are no dues ofGoods and Servrce Tax
and Cess whlch have not been deposited wth the approprare aurhorlies on
accounl ofany dispute The pariiculars otdues of .come Tax and Seoice Tax
as al fi4arch 31. 2022 which have nol been deposited on account oi a d]spute
are asio ows (Amounts depicted are net ofitaxes paid under prolest)
Forum whe/e dispute
2OOg to
2410
14 15
2010
Duty
166.94
,o 4us!r:!?9|q
37 t6
( 254.82 2AtT tA
Act 2003
csT Joi.t sGST

Act 1956 11472 20 t5 6
Deputy sGsT
22436 241617
csT 772 60 2017 t8
GST 547 2a t7. ta

ir cGsT
,{.4
2017.18
viil iniornalo. and explanalon given lo us and lhe.ecords of the
Accordlng to
Company examined by us, there are no transactions relatn9 to preliousy
unrecorded incohe thal has been surendefed or discosed as ncome d!rirrg Ihe
year in the tax assessments under the Incone Tax Act 1961, thal has nol been
recorded in lhe books otaccouft
x (a)Accordi.g to the .ecods of the Company exam fed by us and lhe nlormaton
I
and explanalions 9iven lo Ls the Company has detaulted repaymenl of loans
d!ring lhe year n the varous inslanceswh ch have been sted fEnclosule1:
(b) Accordingto nformalon and expanation given io Ls afd on the bass oi our
audil procedures. we repon that Ihe Company has nol been decared willul
defauter by any bank or financa instilulon or governhenl or any gover.menl
(c) According to information and expanation given to us and lhe records ol the
Company eramined by us the lenn loans have been app ed. on .n overal bass
forlhe purposes forwhrch they were obtained
(d) According lo infomation and erpianaton given lo us and lhe procedlres
periormed by us, and on an overal eramination oi lhe financiai slalemeols of tlre
Company we report lhat no fLnds raised on shorl-term basis have prma facie
been used d!ring lhe yearior ofg{erm pLrposes by lh€ Company
(e) According lo information and etplanalon glven lo us and lhe procedures
perio.med by us we repod lhal lhe Company has not taken any funds iron a.y
enl ly or person on acco!nl oi or to meet the obiigalions of ils s!bsrdia.es
(n According 1o information and explaralon gven lo us and lhe procedLres
pedormed by us, we reporl ihat the Company has not ralsed loans durng the yea.
on lhe pledge oi secu.ties hed n its subsda es, lonl venlures or assocrate
x (a) The Company has nol ra sed !ny money by way of init a pLb rc oifer or idnher
pubrc offe. (ncludi.g debl nstrLments) du.ing lhe y€ar Accordng y. paragraph
( 3(xxa) ol lhe Order s not app icab e. to lhe company
(b)The Compaiy has nol made afy preferenta alotment or private placemenl ol
shares or conveidble debenllres (! ly or pany or oplonally) durng lhe year and
hence reponins !ndercralse 3(x)(b) orthe o.der s notapp cable
xi (a) Durlig the course oi olr exam nation oi the books oi accounl and records o,
the company, caried oLt n accordance wllh generaly accepled aLd ting practice
in India and according to lhe informalon and explanatons given to ds, we have
nelher come across any rnstance ot materal iraud by the company or on the
Company by ils ofUcers or enployees nolced or repoded dLnng the year, nor
have we been info.med of a.y such case by lhe.ianageme.t
(b) Durng the course of our exam nat on of the books of accolnt a.d records of
lhe Company, caried oLt n accordance wth generaly accepled add lirrg praclice
in India and accordi.g to lhe informalon ard erpanatrofs g ven to !s. a repon
under 143(r2) of the Act in Form ADT'4 as p.escrbed !nder ruLe l3
Co pd' es rA,o r drd ^Lo .o ' aJlF 2014 ||d- ro. eqL red ro o- fl"d "id; fi'
Central Governmenl Accord ngly the reporting ufder clause 3(iixb) of thelotd
is not app ro the Company.
'cable
(c) D!ring the course oi our examinarion of the books oi acco!ni and records of
the Company caftied olt in acco.dance with genera ly accepted aud ting p.aciice
in lndia afd according to the informalion and explanaiions given lo us lhe
Company has not receved any whiste blower compainls durng the year and
accordingly the reporling undercause 3(xXc)ofthe Order s not apptcabe to the
xi n our opinion and accord n9 to the informaton and expanations g ve. to us the
Company s fol a Nidhicompa.y and the N dh Rules 20t4arenorapptcabteto
t. According y pa.agraph 3 (x i)of the Order s notapplicabte lo rhe Compa.y
xii. In ou. opfon, the Compa.y is in conrpliance with Section 177 and 18€ ot the
I
Companies Acl, 2013, w r app cabre transactons wilh rhe retated partes and
I
the delais oi relaled pady lransactio.s have been dscosed the srandatone
iinafcialstatemenls as requ red bylhe app cabe account ng standards
xv ia) ln our oplnron and according lo lhe information and explanato. g ven lo us
lhe Company has an adeqlale inlernalaudil syslem commensLrate witlr the sze
and lhe nalureof ts business
(b)We have consdered the nlernal aud t repons for lhe year !nder audil issued
lo lhe Company during the year and tlldate n delehning the nalure, timng
a.d extenl ofoLr ald t proced!res
xv. According to lhe informalon and explanauofs g ven to us,lhe Compafy lras nol
entered inlo any non cash lransaclions wrlh d rectors or persons con.ecled with
thenr According y, paragraph 3(xv) ollhe Order is nol apprcab e to Ihe Codpany
rvi (a) Accord ng lo the iiformalion and expanalors g vef 10 !s, rhe Company is
.ol reqdned Io be reg stered u.der S€.liof 45-lA oi lhe Reserve Bank of .dia
Acl. 1934 Ac@rd/ngly. paragraph 3(xv)(a) (b) and (c) or the Order ls not
applicab e to lhe Company
(b) Based on lhe nlormalon and expanations provided by the nranagernenl of
lhe Conpany. lhere is no core nvestmenl conpany w th n the Group (as deiined
( ln the Core Investment Compaies (Reserue Ba.k) Dnec ons 20'16) aid
accordrng y reporln9 unde.clause 3(rv)(d) ofthe Order s not applicabe.
xvi. gven lo us ard Ihe procedures

Accord ng 1o info.mation and expanalior
pe.formed by us we €porl lhat the compa.y has .ot ncu(ed cash osses
durng lhe financa year cover€d by our audl afd the immedialely preced ng
xvii There has been resignalion of Ihe slalulory audito.s during the year and we
have taken iflo consideralion lhe ssles objectons or concerns raised by lhe
xx Accord ng to the iniormation and explanallons givef 1o us and on lhe basis oflhe
financa ralios (also refer Nole 42 lo the nnancar slalemenls). ageng and
expecled dates ol realsalion of financial assels and payment of fnancrai
liabillies other information accompanying the fifancial statemefts afd our
knowledge oi the Board of Drcctors and [,lanagemenl plans and based on our
r\
e,.r raf o r ol l'e e. oer ce .Lpoo,1q L F Lmo ior\ rat',t I r". e1r<o,M
or drre,r01 wnLl lause'L< ob-iFlFlhd'ary aarFralLncF ar'r e,.tf.^
on lhe dale oilhe audit repon indicaung Ihat Company is not capabe of m
its llabilities exisling al the date ofbalance sheetas and when they fa I due wilhin
a period of one year from the balance sheetdate we, however, slale lhat this is
nol an assurance as lo lhe fut!.e viabilty of lhe Company. We fudher slate lhat
our reponing is based on the facts up to the dale of the audit .eport and we
neilher give any guarantee nor any assuran@ lhal allliabilities faling due within
a period of one year from the baiance sheel dale, wlll gel discharged by the
Corrrpany as and when they falldue.
xx. (a) Accordlng to lnfomalion and expanaiion slven io us and the records oi the
Company examined by us, the Company does not have any amounl remain ng
unspent under section 135(5) of the Act as at repoding dale Accordingly
€poding under clalse 3(xxxa) and (b) ol the Order is nol applicable
xxi. The reponing !nde. clause 3(xti) of lhe Order is nol appicable n respect of
audit ol standalone linanclal statements Accod ngly, no comment in respecl of
lhesaid clause has been included n lhis reDon
C
For M/s G.K. ChoksiA Co.
Charte.ed Accounlants
No.125442W)
Daret OBloT 2022

UDIN: 22033402AMSTBG5449
ffi {rtlem. No.033402)
(
Annexure Bio in dependent Auditors' Report
(R€ier€d to in paragraph 2(f) underthe heading Reporl on OlherLegaland

Regulatory Requirements olour report oleven date)
Report on lhe Internal Financial controls with rererence to standalone tinancial

saalements under Clause (i) of sub-sect on 3 of Seclion 143 of the Companies Act,
We have audited ihe l.lernal inancia contros wilh relerence to slandaone nnancia
sratements of Jyol CNC ALtomation Lm ted (lhe Compafy ) as ol March 31 2022 in
conj!.don with our aud I ol lhe standalone financial stalemenls of lhe Conrpany tor lhe
yearended on lhal dale
n ouropinlon the compafy has i. allmaleria respects an adequale .lernalifancia

controls system wlh relerence to standaione fnafcal slalemenls and such inlerna
iinancial conlrols were operating efiecl vely as at March 31,2022, based on lhe interfa
financ al coftro s wilh reierence to slandalone fnafc a slatemenF cr Ieria eslablshed
by rhe Company consderirrg Ihe essenl al conrponents oi nterna conlrol stated in lhe
Guidance Nole on Aud I oi nlernalFnanclalConlrosOvefFnanca Repodng ssued
bylhe Insltule olChanered Accounlanls oihd a (lhe Cuidance Note )
Management's Responsibility ror Inlernal Financial Controls
Ihe companys .ianagement and the Board oi Dneclors are responsible for
establshing and ma ntaining lnler.al tinancial contros based on the lnlenal linancal
conlrols with reference to standaone nnancia slalenenls crleria eslablished by the
Company considerng lhe essential components of inlerfa cont.o slaled if lhe
Guidan@ Note. These responslbiities i.clude lhe desgn mplehenlation and
maintenance ol adequate internal tinancia coflros that were operating elieclvely lor
ensuring lhe ordery afd eficenl conducl of ls business inc!dng adherence lo
Companys polices. lhe safeguarding or its assets, the prevenllon afd delection ol
frauds and etro.s Ihe accuracy and compleleness ol the accountng recofds. and ihe
rmey preparalon of reiable tnancial iniormation as requned under Ihe companes
Aci 2013 (hereinalter reie.red to as lhe Acl')
Auditof s Responsibility
Our responsiblity is lo express an opinon on the Compafys rnterna linanca coflros

wth reierence 1o standalofe financia slatemenls based on our audit We conaucled our
audn n accordance wilh the Gu dance Nole and lhe Stafdards on Aud Ing prescrbed
urde. Secliof 143(10) of the Acl, to lhe ertent app icable to an aud l of inlernalfinancia
conlrols with reference lo slandaone fnancia slatemenls Thase Siandards and the
Gu dance Nole requne lhal we comply with elh cal requnements and plan and perlorm
ihe audl Io oblain reasonabe assurance aboul whelhe. adequate intenral ifanca
contros wrth relerence 10 slandaone iinanca slalements were eslabished and
mainlained and whelhersuch conlros operated eliectvely I al nralerialrespecls
Our aud I lnvolves pedormirrg procedures to obtan audit evidence about lhe adequacy
oilhe nle.na linancia conlrols wilh relerefce to slandalone lna.calstalements and
theif operaling eifectiveness Our audl oi ilerfa ifarca conlros with ere.efce to
slandalofe fnancial slalemenls i.clded obtaning an understanding ot such nlenia
iinancialconlrols assessing lhe risk lhata materalweakness exsls afdleslrgand
elallaling lhe desigf and opeGtng eifectiveness oi .teha conlro based on the
assessed risk The procedures selecled depend on lhe audilors ludgement including
rhe ass€ssmenr of lhe rlsks of marerial misslaremenr of lhe slandaofe fnafcal
slalemenls whetherdle 10 fraud orerror
we beleve that lhe audit evdence we have obtaned is slitcreil.id appropriale to
prolide a basis for our audit opin on on the companys inlernal'rna.ca conl.ors wlh
relerence lo standaore tfanca slalements
llreanjng of Internal Financial conlrols Over Financial Reporting
A comoanvs inlehallinancalcoflroswith reference lo slandalone iLnanciar slalemenls

is a process desi9ned lo provde reasonabe assurance regardifg the reliabLlity or
lnanclal reponing and lhe preparalron ol sta.dalone tnafcal slatemenls ior exle.nal
purposes ln accordance wnh gereraly accepled accounting princpes A companys
nlernai f.anca conlrols wlh referefce lo slafdaone linancia slatemenls incude
lhose poices and procedures lhal (1) perlan to the maintenance oi records lhal in
reasonable detail accuraley and fa ry reflect the Iransaclions and d spostions of lhe
assets oi the company: (2) provde reasonrbe assurance lhal lrafsaclons are
reco.ded as necessary to permlt preparalion of standaone nnancial slatefrents rn
a.cordance with geferaly accepled accounling prnclples. aid lhrt receipls and
expendilures of the company are beifg made only rn accordance wilh aulho.salons o'
managemeni afd dtreclors of lhe compaiy and (3) provde reasonable assurance
regarding prelenlon orlimeydeleclon ol unaulhorsed acqusnon use ordsposton
oI lhe companys assels lhat could have a m9!e-!a efiecl on the sta.daofe ifancal
Inherent Llmilations of Internal Financial Controls Over FinancialReporting
Because of the inhefent limilations oI intenal linancial cont.ols with refe€nce to

slandalone financial slatements, including lhe posslbility of coluslon or i.nproper
managemenr oveiride of conrrols, malerial nisstalemenls due lo eror or frald may
occur and nol be delecled. Also, prcjeclions of any evaluarlon of the internal tinancial
controls with refe.ene lo slandalone linancial slatemenls lo future oeriods are subiect
lo lhe risk that the intemal tinancial @nlrols wilh referen@ lo standaone inancial
slatemenls may become inadequate beeuse of changes in conditions or thal lhe
degree oicompliance wilh the policies or procedures may deterlorale.
Fo. r4/s G.K, Choksi& Co.

c Chartered Accountants
4es
Reg, No,125442W)
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Dai.€: Ognfl2022 (lrrem, No,033402)
UDIN: 22033402AMST8G5449
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JYOTI CNC AUTOMATION LIMIIED
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JYOTI CNC AUTOMATION LIMITED
SIGNIFICANT ACCOUNTING POLICIES & PRACTICES
1. CORPORATE INFORMATION
lyoticNa Auromaron Liniled k an unlsred Publi. compant timited by sharer add ncorporated
underthe CompaiiesAd,l956 wnh ir.egktered ofii.e at Rajkor, cuJarat India. The Company is a
gobal player in lhe machne toos i^dunry wirh market presence in lndia and other counries in
Asia, Europe Mldd e Eart, Nonh Ameica, Sourh Amer.a and Alri.a.
The company k a onejtop meta cutting solutions povder The Company offe6 a wide range ot
CNC melalcuttn9 produ.ts for bolh Iurning and M ting operauons, froh lhe entry tevefto h 9h-
e^d fra.hines vzj cNc Turfirc center cNc ved.alMachlntng center (3-4-5 Aret, cNc Horizonta
Ma.riinng CenteL V€rlica In€ CNC Ma.hines and Mutilasking Machnes. The Company k an
ntegrated cNc m3.hine manlfa.llre. wirh des9n, developmenr and manufactuing host ot the
c.ilcal componena in-house. The Company has a captve loundry machning, sheer metat ufit,
painl shop and arsemb y unir
(
The Cofrpany cateE to a lalge costomer base spread a(oss Automobile, Aerospace, Ag.icuhure,
Searinqs, Consumer Du.ables, Die andMoud, Diamond Jewellery, Delence, Gene6 Engineering,
Medica Equipment, Plan. Pro.e$ing, Pumps and Valves, Raiway\, Tooting and Ten b [4a.hinery
Thestandaoiafinan.ia natemenhfortheye endadMarch31,2022wereapprovedbytheSoard

of D rectoE and authoGed for issue onJuy 3,2022.
2. SIGNIFICANT ACCOUNTING POLICIES
L Basis of p.eparation.nd prerenrarion, Statcment ofconpliance
Ihe tinan.ialstatemenc have been prepared nac.ordan.ewth tuan Accounri^g Slandards

Irnd Asl as per the compaîes lhdan A(counrng standardst Rures, 201s, as amended and
notified u.derseclion 133 ofthe Compan es AcI,2013 (he,Ad'),
( Functional & Pres€niationar clr€n.y

The tunctional and presentation curency ot the Company G ndanRupee(,.,)whchislhe
.uiiency ofthe primary econofric envronment in wh .h the companyoperaies.
ir. sasie of measurement
The financial natements have been prepared on the historicalcosr convenlon 3nd on an
ac.ruslbasi5 olaccounlinq, oxcept for the follow nq mate alttemswhich havebeen measured
bnvalue as requ red by re evant nd AS:
nvestments. a$iiied as fairvalue th@u9h
Fa r valueof p an a$ets e$ presedvatue

of delined benelit obl qations
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SIGNIFICANT ACCOUNTING POTICIES & PMCTICES
Prop€rty. Plant and Equipm€nt
p.open, Pbnt and Equipment are stated ar co5t, net ofrecoverabte taxe,
rradeds.ount and
rebares less accumuared depreciarion and impamanr to$es, f any Such.on n.fudes
purchase pn.€i boiiowing co{ a^d any cost dire.{y artrbutable 16 bringinq rhe a$els
ro iB
wo* ng.ondit on fo. its intended use
subsequent cons are inc uded in rhe asefs carry nq ahounl or recognised asa separatea$el
ai appropraie, only when it s probab e rhat lurure e.ononic benefir assoctated wth the nem
wil f.w to the entity and the.ost.an be measured re iab y. propeiry, p anr and Equipnanr
whkh are r gnifcanl to ihe rotalcosl of thar irem of popedy, ptant and Equiphenr and havinq
dif6."nr -.er-l ..p"-a ,o-n.edseoa aF.
Expenses incuiied relatinq 1o projed, nel ol income eamed during the pqe.r dev€opmenr
nage priorto ts ntended use, are dkc osed under Capitalwork in _ progre5s.
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6ans or lo$es arkng fiom de recoqniron ota propeny, p ant and equipment are measured
aslhediltercnce betueen the net dispo5a p.o.eedsandrhecarryingamountotthea$etand
are recognired in lhe stalement of Prolil and Los when lhe aset is derecognked.
Intangible assels a.qured separately are measu.ed on initiat re.ogn tion al.on The.oe of
inlangibe asseG acquned in a blsine$ combination i5 lher fan vatue ar the daie of
a.qustion. Folrowing inilial recognition, intangibte asers are caried al .on ta$ any
accunuated amoni5alonand a..umulated mpahe oses.
Gai^s or oses a sing Lom derecognttion of an inrangbe a$et are neasurcd as th,A
difierence between the net dkposat proceeds and the .a.rying amount of the a$et and are
recoqnGed in the statenenl of p.ol t or to$ when rhe a$et is dere.ogn sed.
( lntanoible asets underdeve ooment

The Company erpenses .o3rs incured durng resea(h phase to pblit or toss in
the year in
whch they are incurcd. Development phare erpenser are jniliaty re.ognsed as intangibte
a$ets under deveropmen unt I rhe devetopmenl phase is .omptere, upon which the amount is
cap tarised as ntan9ib e asei
Oepreciation and.modierion 6n prop€.ty, pt.nr& Equipnentand tntangibt€ A$ers
Depre.iation and amortizalion s provided so as 10 wrire oft, on a straight tine basG, the
con/deemed con of Propeny, Ptant and Equpmentand the ntanqibte a$eh, nctudng righr-
ofuse a$ets to ther resdua vatue as per lsefut tives pr€<ibed under khedub oi
Conpan esAci,2013 which ara as fo]|oM:
SIGN IFICANT ACCOUNTING POLICIES& PRACIICES
(
These chargas are commenced fiom the date5 the assel3 are avatabte for rheir tntended u5e
and are spread over lheirenimared useluteconomic tives or, in rhe case of
qht.otusea$ec,
over the lease period, t shoftei The enimared useful ives of asets and residuatvaues and
deprec at on method are reviewed.egularlyand, whe^ nece$ary revked
Depre.iarion/ Anon sarion on arset5 under consrru.t onl nrangibte a$€t under deveopment
commen.es ony when the a55er5 are ready for rhen i^tended use.
Aseti value up to 30,000 are fully deprecialed n rheyear ofacquisirion.
Tha Company determ nes that a contracl k or.oniains a iease, itrhe conra.r conveys right to
cont.olthe use of an dentilied asset lora period oftime tn ex.hange for a .onrideration. At
the in.eption of a coftfact which is o..ontains a eare, rhe Company re.ognises lease tiabitiry
ar the present va ue of the future lease paymenr tor non .ancelable period ot a ease which G
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not shon term n nallre except for lease of low va ue tems The luture lease paymenB for such
non-.an.elable peiod are dk.ounted usng rhe Conpanys incrementat borowing rate
spe.itic to the lease be n9 evaluared ortorthe podfolio otthe ease with sinitar charadeGrics.
Lease paymeds in.udefixed paymen*i .e.ahountr expecred io be payab e by rha Conpany
under residual value guarantee, the exercise prk€ .f a purchase option I the Company ir
reasonabiy.erta n to exe(ke th3t opt on and paymeni ofpena ties forreh nar ng rhe teare jf
the lease tem conridered refe.ls lhat rhe Cohpany sha erercise te.mination option. The
Company alro recogfizes a ighi of use a$et whi.h comp.ses of amount oi intia
measurement ol lhe ease liablity, any intiat d recr con tncured by the Company and
enimated dilap darlon cosls.
Right of use aesets G amonked over lhe peiod ol ease.

SIG N IFICANT ACCOUNTING POLICIES& PRACIICES
Initia I Recognnio n and

M easu r€m€nt
Al Financa Assels.re intialy re.ognized at lan value Transaction cons that ara
directlyatt b!tableto the a.quisirion or Gsue of F nan.iat A$eG, whkh are nol al Fat
Vaue through Profit or Los, are adJusted to the fair value on innia re.ognition.
Purchase and sale ol Financial Assets are rccognised usinq trade date a..ou^ring.
I Finan.ia A$etsneaslred atAmortked Con

A Finan.ialAset k measured ar Amortired Con ifit is held withn a busines mode
whose obje.rive i, to ho d the assetln order to col ect .ontEctual .a3h flowsand lhe
contractua tems ofthe FinancialAse! qive &e on spe.ified dales lo.ash llows rhat
( are sole ypaymenls ofprinc pa and inrerenon the principa amountoualand n9
t Financal Asea measured at Fan Vaue lhrouoh Other Comptuhenlive In.ome

{FVTOC )
A Flnancial Aset s measured ai fWOCI if it is held wthln a buslnes modelwhose
abjeclive k a.hieved by bolh colea.ing conka.tual cash lows and selling Finan.ial
A$eb and rhe contractual lerms of the F nan.ialArset give rise on spectfed dares ro
.ash llows that are so ely paymenh of prnc paland nleren on the prin.palamount
> Fnancia AssehmeasuredarFatVaueThrouohProlrorLors(FwpL)

A Finan. alAset whi.h is not c a$ilied in any of the above categores are meajured
Invennent in Subsidiarier Asso.iares and Joint Ventlres

The company h3s accounred tor irs invesrmenr n Subsdiaries, asocates and jotnr
venture at cost less impaimedr o$ (if any).
(
Oth$ Equi9 InvestmenB
Al other equiry i.veslments are measured atfanvalus with vatue.hanqes recognised
in statement of Prof t and Lo$, excepr ior those equ ry nvestments tor wh.h rhe
Company has ele.ted to present the va ue.hanger ii'Olher Comprehensive tn.ome,.
Loa.s given to employees are rapayable to lhe companyon demand and henceare
caried at con n the inan.ial narements.
SIGN IFICANT ACCOUNTING POLICIES& PRACTICES
o lmpairment of Finan.ial Asrds

In a.cordance wirh nd As r09, the aompany uses Expe.red credit Lo$'(EcL) mode,
for evallaring impanment of Financia A$ets orher than those measlred al FanValue
Throuqh Prolit a|d Lo$ (FWPL).
Expecled credlt lo$es are measured through a oss a lowance at an amounl equal lo:
. The r2'montk exp*red nedit lo$es (erp{red (edit o$es that result from those
delau t eva^ts on the fna^. a innrume^rihat are posblewithn l2 nonlhs afier
lhe reporting date); or
. Ful iletime expe.ted credt lo$es (etpe.ted (edt o$es that resut tron al
po$lb e delault events overrhe life olthe linan.ial lnsrrument)
Fo. Trade Recevabes lhe Company appies'simpllfied apprca.h'wh(h reqlires

epected ifetime lossesto be recoqnked Lom lnitial.ecognil on.lthe receivables. The
Conpany urer hirtor.a detauh raies ro deremine impairment los. on the podfo io of
Ai evary repod ng date these h stor.al default €tes are reviewed and .hanger i^ the
lofrard ook na estlmates are analvsed.
Forolherasels, the companylses 12 month EcLlo p.ovide for impairment os where

rhera s no slgnifi.anr n.reasei^.redtrsk f there ir 3ignifi.ant in(ease in credt risk
2, Finan(ial tiabilili€r & Equily lBtrunentr
a) Cla$ification asdebt orequity

Finan.ial liabiiries and equity inslrumenrs Bsued by lhe Company are caslen
according to the slbstance ot the conlraclual arangements entered nto and the
delinitions ola linanc alliablllty and an equity instrumenl
('
An equity inslrument ls any conlracl ihal evidences a rcsidla inlerest n the a$ets ol
the Company af(er deduclinq al ofllsliabiner. Equny nn.unentsare recorded at the
Finarcial Liabiliti6: Inilial Re.ognition and Meaiurement

All Fiâ^.ial Liabililes are recognized at tair vaue and in 6se ol borowings, net of
dnecl y atirlbutabe .osl. Fees of recutrng naiure are dnectly recognised in lhe
Statehenl of Prolil and Loss as fnance (ost.
Finan(ial liabilities: Subsequeni M.aslr€menr

Financia Labilites are.aired ar amodzed cost uring the efiecuve inlsrest rate (EtR)
For tade and orher payab es natu.lng wilhin one year from the baan.e sheer date, the
.arrylng amounts app.oxidrle lair.elle due to the 3hon maturity otthese innrumenrs.
SIGN IFICANT ACCOIJNIING POLICIES & PRACTICES
De-re(o9nitio. of Finan.ial Instum€nts

The Company de.ecognizes a Fnancialasset whe^ rha.o^tadua rqhtstolhecash
flos from the financialA$et expi.e or t rransfeE rhe F na^. a A$et and thet6^der
quailes lor deiecoqntion under Ind AS 109 A Financial liabiily (or a part ol a
linanca lablity) s deE.ognized fiom the Company3 Ba ance Sheet when lhe
obligation specilied in the.onta.r s dkcharqed or caftel ed or exp res.
Fiân.ialAset and Finan.ial t abi n es a.e ofiset and the net amount s presented ln
lhe ba an.e sheetwhen, and onlywhen, the Company has a lega lyenlorceabl€ rigro
sel otf the amount and it ntendt ether to sellelhem on a net b
asetandsettethe iablltysimulraneoudy.
vlll. Provisiont Contingent Liabilili€e & conting€nt A$ets
Provslonr are recogni5ed when theaompany has a p.esenl ob igalion (ega orconnru.tive)as
a .esu t ol a pan event, it is probabe thai ihe company wl be requked to senle the
obiqation, afd a reliabe est mate can be made olthe amount olthe oblgation. The amount
recognised as a provsion ir the besl estimate oi the consideralion .equired 1o settle the
presenr obigatio. at rhe end ol rhe repon nq pe.lod, raklnq irto ac.ount the risks and
un.edainties su.rounding the obli9ation.
Longierm provkions are determined by ds.ounting lhe expected lurure ca3h llows at a pre-
tax rare that rellects .urcnt markel arsssments of ihe lime vaue ol monev. Short term
provslons are ca(ied at thet redemption value and are not olfset aqainn receivables from
Conting€nl liab liues are disc osed when there i!a po$ibla obl9ation arki^g from pan eventi,
the et stence of wh.h wil be confmed only by the occurence or non occu.rence of one o.
more unce.tan future evenc.ot whol/ wilhin the.onlrol of the compafy or a present
( oblgauon that arses iom past evenls where it e elther not probabe lhat an oullow ol
resour.er wil be requ red io seitle ora re iable esiimale ollhe amounr cannol be made.
Contingent Assec are neirher re.ognized nor d s.losed n the Notes fominq part of the
tx, Forei9n curtency transact'on5 trandarion
Iransa.tion5 in foregn curencles are recorded at the ex.hange rate prevailing on the date ol
lransacton. Monetary assels and llabiliues denominaled in toregn curencles aretransaled al
the lunctiona curency c osi.g rates ofexchange ar the reporling date
Et.hange Diffe.ences relating to Long Tem Monetary llemsthai are in rubnan.eloming the
part ot the Companys nel inveslment in non ntegralloreign operations are accumulaled in
a,
,l r.l
JYOTI CNC AUTOMATION LTMITED
SIGNIFICANT ACCOUNIING POLICIES

& PRACIICES
\on monelaD/ items that a,e neasured n rerm
ofh *orica .o
recorded uring rha erchanqe rares al rhedaieotrhe
r.ansa.t o
l+4i :iiiii:iri:i :Hfflil, n::"ni:n:jrffi:3"::r#i :r,;::: J:

il il:?ff l.tili :: ::i.iffin:l jnil#::Kiil.J..:;ffi::i"
::ilii::i:$:
1. Short lerm Employee Benefis
Th€.undts.omred amanr ofshorl term
emp oyee benerirs erpe.red ro be paid
roJ^se sd(srendsed by emp oyee5 are recognised a5 4,
expenre dunng
wnen rhe enproyees fender rhe setu.es
2. P6rEmptoyment Benefib
Defined conttibdtion ptan:
Providenr Fund and Ehployee Stare lnsu.ance

ContnbutDns uds denn.d @nr/iburion pam
are recogn:eo as expense ror the
the mproyee has rendered the setuice:pdymens
l"l:1-1' l1l" made ro nare
do-ir'enr.o rho e d \nq nc orfeo\onn,ouro.

.r,".-, **, *r"."
uln aa u (o.d rc.o n Lo \ V4Fod trtrn o ,-c.a. .ot.dr o-

b3,r dL.4. b...9 _,,.a *-..,
"",^,-"r " d dots pey"c-u,pn.a.oa
:1": ::il :;:' j:1

;:.Tr:'; ;".":t i -" *, e ne r .n" "
"',;"..::: ; , ,;"; ',
wnen rhe pan amendreft or. "". ;t,':":::#,::: :'"": ffi.::
.osts or tehinatio, beienrs m;;d;il, ns
;;:;;.;':T,::v'e'a,ed,enructu,
ru re.oqnised in ihe baran.e sheer represents
pfesent brue of lhe defired benefit the
obligarons a5 reduceo by flre tair va
ue of ptan
(ii) Con pensa red absenc€s
::l:.1.'':r:,i''*'-'. .h" , e r'oe ,o o ru

'.o "1e, he -d o, ,re
:j l.^--:lt,:t::
rar., on d,hc p,e\enr:_*,.
\a,.e o,,, "*d -.;;,;;;r,,:;;","j",;"
."",;;.
"..,e,, ". ",;. .. n.",".
StG N IFICANT ACCOUNIING POLICIES& PRACIICES
Tar expenses.ohpfte of.u.rent and defered tax Cutrent and deferred tax are re.ogn zed as
an eroense o' in.ome in the na$ment of protit and loss, ex.ept when thev relate ro itemr
ded ted or debiled eirher n othe. comprehenrive income or dne.ty in olher equiry h whi.h
.ase therax is a so recognized n othe.comprehensive lncome or dneatly n equ tv
Ihe ratcurcnuy payable ir based on laxable profit lorlhe year. Taxable poft dlfleE lrom
net prolir I reponed in the nalement ol proft and o$ be.ause it et udes tems ol
n.ome or expense that are tarab e or deducub e n otheryea6 and il lurther exc ud6 itens
thai a.e never taxable or deductible
The Companys liablity lor.urent tax 5 cal.ulated 6ing tax rates and tax aw thal have
been enaded orsubstanlively enaded n.ountrywhere lhe Companyoperare bvthe end ol
Delered trx k povided using the labiily method on temporary differences beNveen tha
rarbasesof asetsand iabilitiesandrher.arryngamounGlorlnancialreponingpurpoees
at rhe reporling date Delercd tar llabiitles are recognised for altaxable lempomry
Defered tax is lhe tax expacted to be payable or re.overable on ditfe.en.es beeeen llie
carrying value otassets and liabiirer n the linancial statemanG and the corespondlng rax
bases used in the .omputation of Gxabe prolit, and is ac.ounled for urnq the balance
rheet iability melhod Defered tax labiLiries are genetaly recognized for all tarable
lempd6ry differen.es.In conrrast, defered iax asseG are only re.oqnized lo ihe e*.ent thal
it is probable that luture taxable p@fts wl be avaiable against wh.h lhe lemporary
dfiercnces can be utiised
The carrying va ue ol defe(ed tax a$ets is reviewed at lhe end ol ea.h repon ng pe od and
reducad to the exrent thal n is no onger pobable that tuftcient labble potic wl be
avalabe to allow al or pad ollhe a$erto be re.ove.ed. Detetred rax is.a.ulated at the
br rateslhat are expected toapplyin lhe period whei rhe liabi ity k settled or lhe asset s
.ealsed based on the tax rates and iar awsthalhave been enacted or rubnanlia ly ena.ied
bythe end olthe reporting peiod. The measuremenl of deleted tax liabililles a^d a$ea
reflects the tax consequences lhat woud lolow ftofr the manner n wh.h the company
expa.a, ai the end ot lhe reponi^g period, to cover or senle rhe carrying va ue of its a$€G
Delened tat a$€ts lnclude Minimum Aternate Iax (&lAT) paid in accorda^.e with the tar
laws in India, which is liLe y to g ve f!lure e.onomic benelits i. the fom of ava lablllty ol set
olf against tLture ln.ome tax iablllty. MAT ir re.oqnized as deiered lax a$ets i^ the
balance rheet when the a$et.an be measlred reiably a.d it is probable ihat the futlre
econom. beneft aso.iared with the a$ai wilbe realzed.
SIGN IFICANT ACCOUNTING POLICIES & PRACTICES
r^ventor es are measu.ed at the lower of Con add Net Rea izable Value. The cost of inventodes
5 ascertaned on the weiqhted ave69e basis, a^d inclldei expendiure ncured n a.quning
the invenorer production or.onve6on co5t5 and olher.osts incurcd n binging rhem ro
lheir present ..ation a^d .onditlon but does not nclude statulory levies of whom input
nedk k ava led bv the comoanv.
Costs ofFnshedGoodr and workri^-Pro9re$ are deternined bytaking mate al.on [Ner ol
nput lar.redit avaledl, labour and re evant appropriate overheads based on rhe no.ma
operar n9 capa.ly, but exc udi.g borowlnq costs.
Ne! realizable value s rhe e{mated seling pr.e in ihe ord nary.ourse of busines, essthe
enhated .osls of .ompLetion and selinq expenrei The net reaisabre value of wolk in
progre$ k determ ned wrh refera^ce 1o rhe sellin9 prices ot rc ared lnkhed products.
(
Xlll. R€ve n! e recognitio n:
The Company recognlzes revenue fiom $le ol goods measu.ed at the far value ot rhe
.onsideralion received or re.e vable, upon satisiadion of perfoman.e oblgationwhich k
at a po nt in rime when.ontolol the goods k transfered to the.usromer Dependng on
rhererms ot the.onrract wh (h d ffe6 from contrad ro.oniacl,lhe 9oo& are sold on a
Sale oi seruices are re.ognsed on sti3ia.ton of perlomance obligaiio^ lowards

renderlnq of ru.h retuces
Interc{ in.omelrom a financia assel s re.oqnked when it is probabe lhatlhe€.onomic

benefiG w I tlow to lhe Company and the amounr of income.an be measured retiaby.
Sorowing cons rhat are dnedv att.lbutable to rhe a.quisit on,.onnrudion or producr on ofa
quai6/in9 a$et are capitalised du ng the period ot time that ir requned lo .omptete and
preparelhea$el for iti ntended use or sale. Quaifylng a$er5 are a$ets thar na.e$arilytake
a substantia peridd oftimeto qel ready fortha I inlended use orra e.
Invenmenr lncome ea.ned on the remporary invenment of spectfc borow nqs pending lhen
eypenditure on qualitng a$eti s deducted nom the borowing.osrs eigtbe for
othtr borcwhs osts ae qeeny

JYOTI CNC AUTOMATION LIMTTED
SIGN IFICANT ACCOUNTING POI.tCIES& PRACTICES
XV. lmpairmentof Non,Fanan.iatA$ets
The Conpany a$esses at each repofring date as to wherhef there is

Propedy, Pant and Equipment a^d nlangbe A$et, or group
cenerating Unit {CGU) may be impaned. tfany such indicai on ex ns,
olan asei orCGU k estimaredro derermine rhe exienr ofimpatment,
When it is noi po$ib e to esumale rhe re.ovehbte amount ofa^ indiv dua
asr mates ihe re.overab e amount of the c6u ro which rhe a$et be ongs.
an impalrmenr to$ is recogiised in the slatement of prolt and Loss to rhe exten! a$efs
carryinq rmounr ex.eeds ts recovebbte amount. The recove.abte anount s higher ot an
asets bnvarue ess.on ofdisposatand vatue in use. value in use s based on the esl mared
future .ash iow' d s.ounted lo the I presenr va ue us n9 pre tar dk.ounl rate thar .ef ecrs
.uftenr market a$esments ol thelime vatue of noney and rsk jpecifc to the a*els
rhe mpamenr to$ recogdised in pl or a..ounting per od is reveBed if lhere har been a
chanqe n the estimate ofre.overabte aho!nt.
xvl. Governmentgrantt
Government grants are recognised a.cordan.e with the term of the respecrive gDnt on
ac.tual bark conridering the sratus .ompian.e ol p.e(ribed condilioB and ascenatnment
rhat the qftnr wi / be re.eived
Government 9rants related ro revenue systemari. and gros bass n the

stalemenr of Profit and Loss over ihe the related (osts ntended lo be
.ompefsaied are In.urcd
Government g€nts retated to assels are re.oqnised as income in equat amouns ove. the
erpe.ted usefullife oliha re aled a$er.
xvll. Earnings p€r rhare
sasic Earnings Per Share a.e .akutated by dviding rhe ner p.ofir or to$
ler.tudrno
ore onp- e ,.e i..one. fo .ha pe oo dr,iourdbe .o rqut Shreode. b, rh;
.on: delco n a..eld n -9 I e Lon oar, : .d1'
q. pd shoF a," I e N"r p,ot,t Ta^ f;r
the Year The weighted Average Numbe6 ot Equiry shares ousra.d n9 duri^g the "fter
peiod are
adjusted ror eve.c ot Bonus $ue and sub d vis on orShares.
For thepdposof6.u ating diuted ean n$ per shar€, rhe nel profir
or los lexdudinq other
comprehensive in.omel for rhe year aftburabe to equity share holdere and lhe weighred
average number oi shar6 outstandng du.nq rhe yea. are adjusred for ihe effets;t
al
dilutive potedial equity shares.
SIGNIFICANT ACCOUNIING POLICIES & PRACTICES
Xvlll, St ndards kued hut nor yet Effective
Minislry of Co.porate Affak (MCAI notifies new nandard o, amendnenrs to the erislino
ccnapp.(cote.o-ô" | 2O2O
3. USIOF JUDGEMINTS, ESTIMAIES AND ASSUMPIIONS
Whle preparing linancialnaFmenls n.onformitywrhtndA5,rhemanagemenrhasmade.edain

est,matesand a$umptons that requne subje.rive and compexjudsments. Thesejudsmenlsafiecl
the appicarion of accountinq poi.ies and rhe reponed amounr of assets, iabiires, income and
erpenses, disclorure ol conungenr tabitities at the sralemenl of fnanciat postion date and the
reponed amount of in.ome and expeBes for the repo^ n9 pe,od
Frnancialraporting r€sulG rely on lhe management esrimare otthe etfect ol cena n mafte6rhat are
uncertan. Fllure evenc rarely devetop exac y a5lorecasred and the bed est mates
'nrrerentry
requ.e adjunment' as actualre5uhs may dfferlrom these en mates lnder difierent a$lmprions
o.conditioB. Est mates and underyrng asumptions are reviewed on an ongoing bas s. Revisjons to
accounnnq en nates are re.ognzed prospe.tively
Judgment, e{imates and asumprionr are requned in panicu arror:
a) Re.ognition and mesurem€nt ofd€fin€d benefir obtigations
Ihe obliqarion arisinq iiom defined benett pan k determined on rhe basis of acllartal
asumprions Key a.tuarial asumptons inctude discount mte, lrends in saary es.atarion.
a ru",ict ro!. a-d ,fe ",pd1a,. hcaiao.n.,c,cidc.-, nAool.e,e.en..onq..e.
yields ai the end of the raporting per od on governme.r bonds. The pe.jod ro maruritv
ot the
.n&,!fo bo.d( ,o're-po d ro o'oodba po r.anp'o,me. - odefr
obigarons. Due ro compleitas invotved in lhe vatuaton and its o^9lem nature, denned
benelit obigation k highly sensitive ro chanqes n rhese assumptions. Alta$unotons are
revewed at ea.h repod n9 perod
bl R€.ogririon ofdef€(€d tax tiabititierand assete
D,eiered Gxas€tr and liabttiesare recognizod lor rhe iut!re rax.onsequences otlemporary
differen.es between lhe cary n9 va uer ol a$ec and ltabjtries and then respecrive rax base;.
and unutlzed busines lo$ and depre.iarion.arryJo&ardr and lar.redns. Deteiied iax
I
asets are re.ognized to the exlenl that t probabe $at tuture taxab]e income witbe
avaiable agajfst whkh rhe deducribte tempo6ry djtferen.es, unused tax o$es, deprectatiof
c{ryjoNartJs and ufused rax (edilr .ould be ut Uzed
cl Dh.ountingof linan.iata$etr/liabitities
Al tinancia asec / l ab lirGs me rsquned io be measured fanvalueon nilia recognition In

case or tinan.ial a$ets / ltabiires wh.h are requ red ro be rubsequen y me;sured
ar
amort zed .o5r nreren L ac(ued glgihe erf{rive mteren method.
i. r-\
,y1 l-l
''i.1,..
\
-'::j
r,7
SIGNIFICANT ACCOUNTING POLICIES & PMCTICES
Signilicanl estimatei are inrcted in the d€teminalion of provisions retated ro tiouidaled

danages and *cndnty ccts.I1e Conpany d prdko. tor onerous co' ra6
shen cur€nt *timates ot lota convact costs exceed'(o'ds expe.ted conlract revenue.3ater i
The provisio
ior waranty, riquidated d6mages/ onercls @ntra.ls is based on the besi estimare equned b
settle the p rcse nt obligation at the end of $e eporting pe od.
Lesal pbceedjngs oilen involve complex lesai issues and are subje.t to subdanrial
uncenainties. Accordingl, conside.ablejudgment is part ofdetemininq whether it k prcbabte
lhat lhere k a p@sent oblisation as a result or a pan event at the end ol the reporting pe.io4
whether it h probable lhat such a Legal Pro(eeding willresult in an outl ow oi resources and
wherher the amount ol the obligation can e retiabty estimated.Inteinat and ext€hat counsek
a re genera lly part ot the dete minarlon prde$.
c
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hvenment in BorsMrcon Gold bonds 26 500
rnedned in unon coDoatc Bond Fund Regular
n!atmentin Uiiod Madiuh ou'ation Fuid Reoutar

- ooca5 11 99,99s
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JYOTI CNC AUTOMATION I.IitlITED
( u,se.urcd,.oBidqed sood )
Rehr Nok No 4 )
ldrM birbs'rcriomd tuh bd o
eho yolfedabsd:ry.ompaiyorot,ryor sas,rntunheron,'drendhg
c 1otr) ProeGmme)
('
(uB.q!d..onridqed eood ude$ orheNke5bbd )
(
( 1 For Rer3red P.dy r'anadiotr Refer Ndk No. 3s )
,YOTI CNC AUTOMATION LIMITED
'Fol FeJ!d P;dyrDi$d'di! Fe,q NoE No rs)
und spured rade recevabres con5deled 9ood
(
IYOTI CNC AUTOMATION IIMIT€D
NOTES TO STANDALON6 FINANCIAL 5TATEM'NTS
B€:n.eswrh baiks
12 orh$ baran.er wnh bank
3: arerwnh sanks in Term DeposirA(colnr rorheeneni hed

.i! !{i!91!l!!9it%q-9P-9:t!:-- -
r tof Rerated PeryTransdons

I Refer Nore No.33)
rntercj A(rued on Bank ren Depcns
9r5 329
'l ror Relared Padylrane.tons Reler Nore No ts )
.!:.! ....--..... c?,6..--.... ....----._!r!.

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JYOTI CNC AUTOMATION LIMITCD
NOIES TO STANDALONE FINANCIAL STATIMENTS
As Per Lan 8:lance sheet

Add : Re.e ots on A lohentolshres
(Amounc received oi hsue ofshares in ex.es ofthe pa.value has been.laslied as se.uities premiun)
Foleign Curency Iranslarion Reses€

1,319
Add :E fed ol Foreion Erchanae Rdevarlarionr
(Consn ot unrea ised ex.hange dfie.ence on oig tem monebry items puuuant to adoprion of paia -46Aro
A..ountingSrandad 11 asp€krbedbyp3cD3of NDAS101)
-A5_-De-.La-!r
sclaa. .h::,-..---.---.-----..---... /46.!1....----.----.--... 2a...:-.
4!q,!-e!,1efi,-l-er-l:hs-Js-?r
jddl(l"n) o"red.,'errr o' rr" rp' der'ro oeierr ,-___,,----..--1,9_?:- ,__,,-__.---01_s_Ct
.omprke of rhe .ompany's undi5nbuted eaininos aiter taxes and other comp,ehensive
ot other comprehensive incone consGts ol rcmeasurament of net denne.l banelit liab [ry/
' As per s.hedure irl Div I (|nd As), remeasurements ol defined benetit pant when ac.umulated at the end of
".".y eool qpp oo..hdIoe e(oo-zeoa.doJdor'".d. eoed-rq<
be reponed under Other comprehenslve i(ome
JYOTI CNC AIJTOMATION LIMITED
NOTES TO STANDALONE FINANCIAL SIATIMINTS
secur€d -At amodLed (ost

I."!'l !.3?..,,.1i9-T-9-1rl:----..- -,,1_21:----..---__- ll,,s,g-q.
rrre companys immovable & movabre a$ets and second ch*ga

on inventory re(eivabas & other.urcni a$ets, borh prasent
(vehi.re loans aresecured by way of hypothe.ar on ofvehic et

(
.!9,r9I9!11!!!rrr!y--oll-,19:r:,e-!9,a-i9-9!li9q!9'r _-.,,-__,,----_..-
unre.ur€d At amodhed.osr
Depori. f'or l1t.
o po'" eboo
Loa6 and adv:n.es from othe6 450
Loans BndAdvan.es Frofr Relrted Paiies.
'( ror Related PaO/rEnsa.tions Rerer Note No.l3)
.on
se.ured . Ar amonired
!91t.+p-el+I. 9! D!r!l'td
PLp!"_r.e:-:...(-Lr c ed:' 3-o 4-'o'"r--... ....-...-l-z-{?1... ....-----.?-2--la

.:9- e 9jr c r e1 \ | 9:t-:..-:9..-r-119. c .d.r a , Jrg-n- er -...--.. ......----...... qr:-
!9!9r91!y$,.ir-!-.-91::q9!"r-:,_crdi:.4r9r9e!!9lt.,,---__. 66-t 666
(The above Lornsaretecuredbytnn.barqeon pai passu brsis
over Companyt no.k & book deba and second chrge on pari
pasu bas s overcompany! immovab e and movable a$ek)
.cr..r Md L,,rj--o, Tq r Bo :9.11-19:-..i; r;; . . .... ii*

--o,.o
'r5
u.se.urcd
i;;;;;;; AJ;;;i#;
- Atanodised.on
6iri";
-' ,
ia;;;;ii-----'t
NOTES TO STANDALONE FINANCIAL STAIIMENTS
(t in rac)
(Maft h31, 2o2t: is1s.6s dore) ortherotat ousbnd igborowinsswerc
se.med bya.haigeon propefry, pta i€btes and orhercurcnra$e6
2J
Atfans (McA)hdudcscharyesrhatwerecreared/hodified sir.erh. ifcepuonofdre compady.The.e aie.edaii
chrcerwhchtrehitbri. h mrure obidn m no obFdionedfioca(Noc,
fronrhe.hreehold€Bofrtrch charses, de5pire €paymenrofrheunde yitrs loanr The companyir in th.conrinuour
prccesofrirnsrhecharsejar dadion e fon wth Mc!,*irhin th€rimennes,a5 andwhen
t rcce ver NoG f.on the
Deeis of Borowinq as ai Ma(h 3l,2a22 s as 6e ot:

0 Rupeero ousranding asarsrnMa.ch,2022AmountirctoRs 169racs(Rs 145 LaGon3lnl\rm.h,2021)
by orlenralBrnk olconme'.e s repayable in Monrhty nna hert and Lasl tnstatnenrwit beon osih
Noy 2022
(i) Rupee Loan ouarJnding as at 3ln Mar.h,202zAmounriig ro Rs. t3g7 Lac (Rs 1725
La6 on 31{ Mai.h,
2021)byO enbrBankotcommercekrepayabtejneuateryrn5tatm.nrand|an n*aumenlwit beonglhSep,
2027 havirc tnreren ,are of MCLR 1 yr + 3 s0%
(ii)RupeeLoanoutsra^dinga5al3rnMar.h,AO22AmountingroRs.J5Lacs(Rr
lTgLasonjtnMarch zo21)
byorlenrarsankolcommerceisrepayabtenMonthryrNalmentandra*rnnahenrwirbeoilTrhJune2022
haviio interestGte of I Yr MCLR + 0s%.
(v) Rupee roan outst3ndi.9 as Jr 315t March,2022Anountin9 to Rs. 360 ta.s byo enratBa* ofcommerce is
repayabre nMonrhttndatmenta^dLas|nstat6enrwi beonrln Ma, 2026 haviig inreren rate of MCLR1 yr
(v)RupeeLoanouarandinsasat3lslMarh,2022AmoudrjnqroRr42sL36byorientatOankotcommereis
in Monrhy rnnaImer! and tasl Inda tnentwit be on 30th Nov,2027 havng interesr
'epayabre kte oI McrR ] yr
(v) Rup@ Loai oubbndhg d d 315t Mm.h,2022Anountn9

ro Rs 320 Lacs by Bank oi Saroda G repayabl€ ii
Monlhy nna rmetrt and rast In5taUmentwil be on lgrh Feb,202s having inrere5t rate ot MCLR y + t%w rh
I
(vii)Rupeetoanouabndingad3klMai.h,2022AmountngloRs626Lacs(Rs.640La6on31stMarch2021)
by Bank of Baroda s repaydb e n Monthy trnatmentand Lan Inna lme^twit be on 2srh Mar,2026 having
ftte or MCLR I yr + 1%.
'nteren
(vii)RupeeLoanoutstaidnqa!at31nMad,2022amountin9toRs35Lacs(Rs4_47La.son31sMar.h,2021)
byBank ofrndia k epJyabte in Monrhy isatmentand Lan In5tatmenrwrI be on 30th Apr,2022 having inte.en
(t) Rupee loan outstand n9 a5 at 31n Mrr.h,2022 amounting to Rs 930 Lac (R!.993 La6 on 3ln Mai.h,2021)
by Bank o ndia G repayabte in Monrhty nnaumentand L3st In$atmenrw I be on 29th Jan,2026 havng itrtern
(r)RupeeLoanourstandinqrsat3lnMar.h,2022Amounltngro Rs.1500Lac
by Bank ol idiakrepayabte n
Monthly Insrarmdnr and Last rnnaltmentwi/ be o. oSth jul,2026 havin9 i.teren raleofMcrR
l yr + 1%.
NOTES IO STANDALONE FINANCIAL STA'T€MENTS
(r in La6)
G) Ru!* LoM outsrmding 6 ar 31n March,2022 Amounl n9 ro Rs. jTO La.s (Rs.767 La.s on 31st March,2021,
by Unio^ Bank oltndia i5 repayabte in Monthly Insta tment and Last rsta tment witbeon j5rh
Mar 2022 having
(ti)Rupee Loan ou$tanding as at 3tst March,2022 Amounti|s toRs 962 Lacs by

Union Sank ol Ind a s
repayabre in Monthly Innallment and La5t nslatmentwru be on 02nd Oec,2027 havnq
i^r€ren rate of MCLR 1 yr
+ 05% with 9.25% Cei ing.
(r i) Rupee Loan outrtanding a3 ar 31st March,2022 Amountirrg lo Rs. 1913

Lacs by Union Bankolt.d a is
repayalrre n Monrhly In{al ment and La5t lnnalmenr wiltbe.n osthJ!1,2026 having
lnterest rare.fMCLR j yr +
(ivx) Rupee Loanourtandifgasat Jt5 vtarh, 2022Amounri^glo Rs. 22 Lacs (Rs. 567 Lacs on 31sr March, 202t)
by stare Bank ofrndia k repayabte n Monrhty nsl3itmenl and Las lnnallnentwi/lbe
on 6th Apri,2022 having
Interen rare of MclR 1yr.
(
{{)Rupee Loanoutsrandingasat3t5t Mar.h, 2OZ2 Amounting ro Rs dS6 Lacs(Rs. GTOLacson3tst March,2OZt)
by rDBr Bank k repayabte nMonthly nnalment.ndLaitnnatmenrwtbeon3lsrMarch,2026havinginterest
rate ot MCLR l y.with 925% Cettng
(xvilRupeeLoanoutstandingaral3lnMarch,2022AmounlingtoRi4T6Lacs by
o8t Bank G repayab e in
Monlhly nnallmentand Last fsraltmenl will be on ZTs anuary,2023 having nteresr rale
of MCLR I ywirh
(wir) usD Loan outstandinq a3 ar 31sr i,lar.h,2o22 Amounting lo Rs.96.00

M I ion (usD 11.4 t\,4ition
Ma(h 2021) byEX M Sank is repayabe in Monihty Instaltment and Lan In5ta Iment wi I be on 3orh
2025 havinq inreren rate of 6N,1 Libor + 4%.
(ixrUSOLoan outitanding asat3lstMa(h,2O22Amo!nringto
Rs.2.0O Miltjon byExtM
r.,1onth y Insta tment and Lasr Inna tmenr witbe on joih
September,2025 having nteresr
Vehi.l€ Loan frcm Aank & Fl
iro(p.pIor o r.tonofqd drt .' Md(h.2O2zar o-nlng ro Rr.5 Lacs by HDFC Sank is repayabte in
Month ylnsta lment and Lan nsialtmenrw I b€ on O5rh Auqusr, 2023 having interen rate
otMCLR I y. with
(ii) Rupee Loan outstandtng as at 31st March,2022 amounl

ng to Rs.42 Lacs by HOFC Sank s repayabte in
Monrhly r^sralment and Last Insraltment witbeon l5rhrVa(h,2025havin9 nterestrareotMCLRl
rwith9.5l%
.,YOTI CNC AUTOMATION LIMITEO
NOTES TO STANDALONE FINANCIAL STATEMENTS
Loan R.pay.bre on D€nand
(0k) wo ing
CapitalLimits ol R5,9363 Lacs pbvided by union Bank o ndiawhnh ,s to be Enewed wery yeai k
having Inte.en Rate ol MCIR 1y +42s%. Le$ 2.50p, Conc6sion
(i)(b)PcFclimcotRs.1150t csprovidedbyunionSankoflndiarhichkrobercnewedeveryye k havtis

maigin 10e,4 of FoB value and appliacb e chaqer as per rhe Sandon Lde.
(i)(c)Buye/s crcdn facitity ar sub Limit under Inland/tmpoft rC of43oO Lacs
(ii)Wo*ing capitarLimits ot Rs.3300 La6 prcvided by Stare Bankoftddia which h to be renqed ever] y€ai
k
havinq Inleren Rab ol MCLR 5M+2.0o%,
(iil)(a) Wo*ing Capilaltimia of Rs.4960 Lacs provided by Bankoltidia which is ro be renwed every ver ie
havinq lnterest Rate of MCLR 1vr+3 00p,6.
(ii){b) wo.king Cap talLimir5 ol Fr 3CO La6 a5 a Sub Limh ofworking CaphalLihit p,ovided by Ban[ ot lndia
whlch k to be rc.ewed everyyeal
t (iv) working capiral Linia of

Interest R{e of MCLR 1yr+44s%.
Rs. 3350 Lacs providen by |DBt B.nk qhich is to be renewed every y$r is having
(v) wo*ing Capiral limiE of Rs. 3200 La6 prcvided by Bank ot Babda which k ro be rcêred €very 6 Months k
havng hrerest Rate ol MCLR 1yf+7.00o,6.
(vi) Wo idg CapitalLimia ol Re.2000 LaG provided byO enralBank ofCofrmerGwhich
hro be rcnewed every
yea. k having rntercst Rate ol MCLR lyf+3.50e,6.
(vi) Wo*ing capira/Demand Loan LimiE oftu.40oO La6 prcvided by
Sau6rhra crahmin Sankwhi.h k to be
rensed everyyearis having Inteen Raleof 10.65%
f
JYOTI CNC AUTOMATION LIMJTED
t&.
(NR Ma^Rlpeq uro usDoLrad
(
i!:lirvlll
'' Mr& 9prcfileorse.urcdboft
t
i,*,*",",*.',,*,''"** : ,,,; ,",,1
,YOTI CNC AUTOMATION LIM|.rED
NOT[5 TO STANDALONE FINANCIAL STATEMENTS
l9 Provkionr NonCurent
.t f-!i9r.I9i-tup-r-.-y-c".'-b-9,"91!q - , ,-,,-,_,,,___,--_,,---_,----_-----.---L?tZ__----""-- t,l,l-q_
Dcfer€d T.x Liabifties (Ner)
,9e-:1]"e--Bi-b.-r,s-e.l-lis-t-Id!-e-q-Il-"r"e,nji __,,,-_.,----.,----.---C.1.-q-_.---__---_-
.25 !,21,1_
.L''4' vdr odroe rbtj
t '
Ial,!i9|9-q!:il--_,----.-----,----.----_---_----_--- ?.p4..-__.----_.--.----.---43a-
-,o-p9:rr!r--B3fq1!! !!9rl9d
qq94!sa,!,!!,i!s9-,---,---.---.. , ,___,,--__,---------1.----_----__-_"- !1L)
odrdd\LidT.r' of defi-ed be' erft ola8 l 3r
.llAI-Sr99-l-!!Ir!L:l!sr,ll V!ll!!q ler!1,",1_:9t
able hn been reponed lR€tu Note
( * fo, Relded P.ny ransadioiJ Rerer Nore No. 33 )
t
-g:c-"u:-":I,9v-iIls
!.:t
2l Othercuiienlriabilities
Provsion tor tnployee benefit 131 163
131
!E .le!eq!e!: _._._.,._.,......,..........,........._._...._.-.-.-Iq,:q1 L?,q.3!..
!19 ?!9t"1!.9:,.,.-.,...-.........-......-.-......-...-.
p.::::-e-,i.eir.9.!l]i a: t: '''-.'------'.::
'1 rorRdred Prnrroi$dior ReisNoreNo r3)
r Mdd ro2, by 15 mijorcbeoryorprodlds
. Rdrd r€ild os
( For P:dy Rercr Nore No. ri )
(. Foi pe Jed Pa^J rdB;.'06nde No € No I)
4.h4sltrrnwnb|h5did+d
( Ir!.!€!
9q9!1
:a;;;'
wod..pogF- ......................................._____ rt-J
f]]lsrtgrd 9!9d1
yoll !t:P!9919!
Nd (hc@sr/d4rese h hvedory
'(ForRrrd Plnyr€6&rois RekrNor No r)
( , ro, & ded pin' roii&loN pd.r No'e No 33 )

i...
NOTES TO STANDALONE FINANCIAL STATIMENTS
Curcnr IaY on Prolits rorihevear

'qry- '.-.-- -.---.- ,:----.
Basic & Diluted Ea.nings Por shar€
ililii!fi?i.iii:i1'*liliiiii!110.,-r.a1i... ,.....::..,...: ,,.ae;,.,],#'j..... ..-*1l#

( 3as. & Dlruied Earn iqr perShre
,YOTI AIJTOMATION I.IMITID
NOTES 'NC
TO sTANDALONE FINANCIAI STAI€MENTS
(.In t.6l
Ac@ding to inlomarion avaitable ,irh the Management
on rie bajs or infomation ec€ired from
supprets Ega.ding thet stalus under rhe Mt rq sma
.nd Medium FnteDises Development Act,
2006CMSMEO /<1) the Company hrs amounls
due to Micrq Sha[ and M.dium rnreadses
under the
rar prnr.par arourr ru_ai ins mpai-i6-tilliiiiio-ie-ii-o

(b) /'refti dL. Ineeon ,em ring u1pa,o ro a}tupp,ie. * lf.
(a)Theamou of pnnciparpaid b.yondrheappointeddare

c (b) rh. amount ot ine'e* paid
beyond the appointed dare
-he.roLnr ot inrerej oue aio pdyabtc to. $d peiod ot o.tdv.n

m|(;ng paym€1l (*hich hrye been p.,o b n beyond Ine
appoined
oay drlg
ihe yer) bur wirtolt add,T rne inreql lp<ineo 10
trnderrhe MSMED a.l_ 2006
Ihe amount of inhren aatued and rcmaining unpaid

at the end
Theamoull ot fLn\er inrerest Fma:n n9 due dnd paydbte

tlesL(*di1gy€6. Jlti surhdarestenlheinre,endJsabovq
*n ,n
are aduary patd to the smal en&anse for the purpose

of
di*llowal@ ol a dedudbte elpendirure under seniol2r
(q orhe
M smal .nd Medium Enrerpdrs D*topment A.t
2OOo.
JYOTI CNC AUTOMATION I.IMITED
NOTES TO SIANDATONE FTNANCIAL STATEMENTS
contingenr fiabilhiee& connnmen& ro The rnenrNot pr.vided For
L€rl€r ot credit, sbhdby retter ot credii, lener of comrod &

ourtrndin9 rertarofcredG ar Bank cuarantae
outsbnd n9 Srandby Leter of cred I & knerotcomfon.
l"Co no,a o bcnrr o'
clain Asain*theCompanynorAcknowtedged as Debt
amounr pa d under pbred
Dispur€d Excke Dul, seruice Tax&orh.I Liahititie3

D o-Fd , eDr. "ru(e.o, aoIe'L,aorre.,,,A<p-ro,
Pcnding trgdion5 before Appetard Aurhorly & Againsr wh.h
3oou^t pa'd LJnder Prorest me as lo tows :
Dispured Ex.ise Duly Liab riries

Disputed n.ome Tat tirbih e!
amount Paid unde, Proren - Er.keDury

Amounr paid underPotest csr
222
Amount paid !ndor prorest VAT
i r.Frd co' n re' r.. r.' rded,nor {o!,

'
Rema ninq to bo exe.uled & noi plovided as
"p,l4tLorld.c
o. satance sheer
" orher cofrhnmerts . E:pod ob igal onAgrjnnAdvan.e rice, *

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sjumd4hd&eiesqappoi.dby "'"'.i"d " " "F4 ",1", " '" ""
JYOTI CNCAUTOMATION LIMITED
NOTES TO STANDAI.ONE FINANC
4 FanVdue Measurement (contd)
llY::!:.r9r!!,r !99t!y--sl{9: ?"qpt.
d pidies afd orher rin:n( a

:ppror frdey equatro rhe hirvd ues
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iy indkarle oI ihe :mo!ft rhr rhe compafy.o!rd have rcatsed or prid ii $le
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lr*-.rA.; @ ""/ffir-r;/ u."
INDEPENDENT AUDITOR'S REPORT
To,
Tire Members of Jyoti CNC,,rutumatiorr Liniited,
Report on the Audit of Consolidated Financial Statements
Opinion
We frave audited the acconrpanying consolidatecl financial statements of Jyoti CNC

Automation Limited (he.reinafter referred to as the 'Holding Company") and its
subsidiaries and step down subsidiaries (llolding Conrpany, subsidiaries and step down
to as "the Group") which comprise the consolidated
subsidiaries together referred
Balance Sheet as at March 31, 2022. and the consolidated statement of Profit and
Loss, the consolidated statement of changes in eqirity and the consolidated cash flows
Statement for the year then ended, and notes to the consolidated financial statements,
including a summary of significant accounting policies (hereinafter referred to as "the
consolidated financial statements").
In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid consolidated financial statements give the information
required by the Act in the manner so required and grve a true and fair view in conformity
with the accounting principles generally accepted in India, of their consolidated state of
affairs of the Coniparry as at March 31, 2022, of consolidated loss, consolidated
changes in equity and its consolidated cash flows for the year then ended.
Basis for Opinion
\l/e conducted our audit in accordai'rce with the Standards on Auditing (SAs) specified
$gCer section 143(10) of the Companies ac|,2013. Cur responsibilities under those
.q
ards are further ciescribed in the Auditor's fiesponsibilities for the Audit of the
r !ll"
'Cbnsolidated Financial Statements section of our teport. We are independent of the
&@/
Group in accordance with the Code of Ethics issued by lCAl, and we have fulfilled our
other ethical responsibilities in accordance with the provisions of the Companies Act,
2013. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our opinion.
Responsibilities of Management and those charged with governance for the

Consolidated Financial Statements
The Holding Company's Board of Directors are responsible for the preparation and
presentation of these consolidated financial statements in term of the requirements of
the Companies Act, 2013 that give a true and fair view of the consolidated financial
position, consolidated financial performance and consolidated cash flows of the Group
in accordance with the accounting principles generally accepted in lndia, including the
Accounting Standards specified under section 133 of the Act. The respective Board of
Directors of the companies included in the Group are responsible for maintenance of
adequate accounting records in accordance with the provisions of the Act for
safeguarding the assets of the Group and for preventing and detecting frauds and other
of appropriate accounting policies; making
irregularities; selection and application
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 accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement, whether due to fraud
or error, which have been used for the purpose of preparation of the consolidated
financial statements by the Directors of the Holding Company, as aforesaid.
In preparing the consolidated financial statements, the respective Board of Directors of

the companies included in the group are responsible for assessing the ability of the
Group to continue as a going concern, disclosing, as applicable, matters related to
going concern and using the going concern basis of accounting unless management
either intends to liquidate the Group or to cease operations, or has no realistic
alternative but to do so.
The respective Board of Directors of the companies included in the Group are
responsible for overseeing the financial reporting process of the Group.
Auditor's Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated
flnancial 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 error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and

maintain professional scepticism throughout the audit. We also:
. ldentify and assess the risks of material misstatement of the consolidated

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(3Xi) of the Companies Act, 2013, we are also responsible for
expressing our opinion on whether the company has adequate internal financial
controls system in place and the operating effectiveness of such controls.
Evaluate the appropriateness of

accounting policies used and the
reasonableness of accounting estimates and related disclosures made by
management.
Conclude on the appropriateness of management's use of the going concern

basis of accounting and, based on the audit evidence obtained, whether a
material uncertainty exists related to events or conditions that may cast

significant doubt on the ability of the to continue as a going concern. lf we
conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the consolidated 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 it to cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated

financial statements, including the disclosures, and whether the consolidated
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

the entities or business activities within the Group to express an opinion on the
consolidated financial statements. We are responsible for the direction,
supervision and performance of the audit of the financial statements of such
entities included in the consolidated financial statements of which we are the
independent auditors. For the other entities included in the consolidated financial
statements, which have been audited by other auditors, such other auditors
remain responsible for the direction, supervision and performance of the audits
carried out by them. We remain solely responsible for our audit opinion.
We communicate with those charged with governance of the Holding Company and
such other entities included in the consolidated 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 internal
control that we identiflT 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.
From the matters communicated with those charged with governance, we determine
those matters that were of most significance in the audit of the consolidated 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
a) We did not audit the consolidated financial statements/ financial information of

Jyoti SAS France (which consolidates financial information of Jyoti SAS and its
subsidiaries, namely, Huron Graffenstaden SAS France, Huron Canada lNC,
Canada and Huron Frasmaschinen GmbH, Germany) whose flnancial statement
reflect total assets of INR 24,537 Lacs as at March 31,2022, total revenue of
INR 7,584 Lacs and net cash outflow amounting to INR 711 Lacs for the year
ended on that date, as considered in the consolidated financial statements. This
consolidated financial statement is unaudited and have been furnished to us by
the Management, and our opinion on the consolidated financial statement in so
far as it relates to the amounts and disclosures included in respect of subsidiary
and step down subsidiaries and our report in terms of sub-section (3) of Section
143 of the Act including report on Other Information in so far as it relates to the
aforesaid entities, are based solely on such unaudited financial statements.
Our opinion on the consolidated financial statements, and our report on Other Legal
and Regulatory Requirements below, is not modified in respect of the above matters
with respect to our reliance on the financial statements certified by the management.
Report on Other Legal and Regulatory Requirements
As required by paragraph 3(xxi) of the Companies (Auditor's Report) Order, 2020

("CARO 2020'), issued by the Central Government of India in terms of subsection (11)
of Section 143 of the Act, we report that no Indian subsidiary company is consolidated
in these consolidated financial statements and hence the said clause is not applicable.
As required by Section 1a3(3) of the Act, we report, to the extent applicable, 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 purposes of our audit of
the aforesaid consolidated financial statements.
In our opinion, proper books of account as required by law relating to preparation
of the aforesaid consolidated financial statements have been kept so far as it
appears from our examination of those books and the reports of the other
auditors.
The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss
(including Other Comprehensive Income), the Consolidated Statement of
Changes in Equity and the Consolidated Cash Flow Statement dealt with by this
Report are in agreement with the relevant books of account maintained for the
purpose of preparation of the consolidated financial statements.
o. In our opinion, the aforesaid consolidated financial statements comply with the
Accounting Standards specified under Section 133 of the Act.
e. On the basis of the written representations received from the directors of the
Holding Company as on 31st March,2022 taken on record by the Board of
Directors of the Holding Company, none of the directors of the Holding company
incorporated in India is disqualified as on 31st March, 2022from being appointed
as a director in terms of Section 164 Q\ of the Act.
f. With respect to the adequacy of internal financial controls over financial

reporting, except for the Holding Company there is no other company
incorporated in India and accordingly this clause is not applicable.
g ln our opinion, the managerial remuneration for the year ended March 31, 2022
has been paid/provided by the holding Company to its directors in accordance
with the provisions of section 197 read with Schedule V to the Act.
h With respect to the other matters to be included in the Auditor's Reoort in

accordance with Rule 11 of the Companies (Audit and Auditor's) Rules, 2014, in
our opinion and to the best of our information and according to the explanations
given to us:
The consolidated financial statements disclose the impact of pending
litigations on the consolidated financial position of the Group- Refer Note 34
to the consolidated financial statements.
tl The Group did not have any material foreseeable losses on long-term
contracts including derrvative contracts.
iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Holding Company and its subsidiary
companies incorporated in India.
iv. (a) The Management has represented that, to the best of its knowledge and
belief, during the year 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 Group to or
in any other person or entity, including foreign entity ("lntermediaries"), with the
understanding, whether recorded in writing or otheruvise, 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 Group ("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, during the year no funds (which are material either individually or in the
aggregate) have been received by the Group from any person or entity, including
foreign entity ("Funding Parties"), with the understanding, whether recorded in
writing or otherwise, that the Group 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;
(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 Holding Company has not declared or paid any dividend during the year.
For M/s G.K. Choksi & Co.

Chartered Accountants
(Firm Reg. No. 125442W1
' -\[
Place: Mumbai
Date: 20.02.2023 4'-'.. W
?[ ;"
r*umert -f'
,/
Q-;# Srreyas V. Parikh

(Partner)
(Mem. No.033402)
U Dl N : 230334028GWPJ E9345
BALANCE SHEET AS AT MARCH 31, 2022
(Rs. ln Lacs)
l.,lote As at As at
Farticulars
No. March 31, 2022 March 31,2021
ASSETS
Current Assets
.l!-v-9l1l9il_e_s_____ B 6s,303 68,283
Financial Assets
receivables --1tl1g
Trade 9 20,019
"-_____9g_'_b_Cjt9-_9g-lt_E_qyjy_ql_el-t_s_ 10 244 -i
j1 i
Other balances with bank 11 2,012 1,235
Loans n 485 472
Other Financial 13 916 368
.9_Jlel_9_u_ft9l'_t_9_::9_q______________ 14 s,873 4,87s
!_gffq!t Tax Asset (Net of Provision) 342
Total Current Assets 95,1 94 98,033
Total Assets 1,28,120 1,37.986
EQUITY AND TIABILITIES
EQUITY
LIABILITIES
Non - Current Liabilities
Financial liabilities
Current liabilities
Financial liabilities
See Accompanying notes to Standalone Financial Statements

For M/s G.K. Choksi & Co For & on behalf of the
tq-
Firm's Reg 25442W
m,n##,.,",. Vikramsinh R. Rana

asant Parikh ;i MUMBAT l* Managing Dir:ctor Whole - Time Director
P
k*s*-;
-r-
Membership No. 033402
W-^r# Maulik B.
-
Gandhi Kanrlesh S. Solanki
Company Secretary Chief Financial Officer
Place : Mumbai
Place : Raikot
Date: 1[p- ol. ' 23 Date:t 9 FEB ?0?3
JYOTI CNC AUTOMATION TIMITED
STATEMENT OF PROFIT AND IOSS FOR THE YEAR ENDING ON MARCH 31,2022
(Rs. ln Lacs)
Note For the year ended For the year ended

Particulars
No. March 31,2022 March 31, 2021
Revenue
Other income 25 357 991

Total Income 77,375 54,207
Total Expenses 80.389 62,080

Profit Before Tax (3,014) (7,973)
Current tax 5l
Deferred tax 19
6ss (1s4)
_ ____,_-_,__. (3,669) (7,719)
Other Comprehensive Income

Items that will be reclassified to profit or loss
J!.I-gl_qgl_l_-C_grrency_T_ranslation Reserve (781) (454)
Items thifwiiifta be re;i;;;iiiili;p;;ii6; t.;;;--------
(i) Remeasurement gains/(losses) on post employment
IY (4) (23)
-{.uIr-e9- !-ilclit r le !-s-- - - - - _ _ _ _ _
Total Other Comprehensive Income/(loss) (78s) (476)
Total Comprehensive Income for the Year (4,4s4) (8,19s)
Earning per share

Basic (12.4s) (26.18)
Diluted (26.18)
For M/s G.K. Choksi & Co. For & on behalfofthe Board,
nA /1,
fsq
ts\st
Lr!-','t
f
al-J.l*/',
;f\rr4{)
Lvv
,rTt%-
w -/ ,/
(--/
d'/ \o \
Shreyds Vasant Parikh
p'\u'u*rg Managing Director
Whole - Time Director
U*#
Parfner
Membership No. 033402 14* -Q-a"'-f
Maulik B. Gandhi Kamlesh S. Solanki
Place: Mumbai Place: Rajkot -
Date:2 Date{ g
0 FEB ?0?3 FEB ?023
CASH FIOW STATEMENT FOR THE YEAR ENDED ON MARCII31,2022
(Rs. ln Lacs)
For the year ended For the year ended

Farticulars
March 31,2022 March 31,2021
A" Cash flow from Operating Activities
Net Profit before tax (3,014)
Other Expense 1,100

FCTR & Other orior 2,060
Operating Profit before changes in current & non current
liabilities 11,742 3,351
Adjustments for:
.----.lt!t-e-T9/_Lq9_9r_99_s_9)_It_gyr_e_tt_g_l9l_gyll_e_$_!.'_q9ilitjg_t (9,799) 8,148
"-----$-qf -'-'-9/9e_.r"_:_'_"_I_:yff_i'_t_g_l9ll_c_yle_$_g_ls_gF
Inventories 2,980 (s,828)
.9-TI_g_e$st."_{_trg_T-9r_er_!ie$_______---______ 4,796 2,848
Direct taxes paid (net of refunds) (61)
Net cash generated/(used) in operating activities 4,735 2,805
B. Cash flow from Investing Activities
C. Cash flow from Financing Activities

----.]ti:ts-q:s/.1-?s-q,sg-'-elI-|lgtt-9-.ltt."l!-?-o-ttgyjt.-g:----.--------!:-8-9]..-.----..-----
.----.ltt:ts_q:g/_1Ps_9'-9g_x)_'.1_-c-rtii_e$_q_o_[9yit9:-___________ 817 7s2
(8,220) (7,683)
Net cash generated,/used in financing activities (1,515) (311)
Cash and cash equivalent at the of the i,011 31s

Cash and cash at the end of the 244 1,011
Note: The above Cash Flow Statement has been prepared under the 'lndirect Method' as set it out in Indian Accountino
Standard 7 - Statement of Cash Flow.
?c{8 'tr
For M/s G.K. Choksi & Co. For & on behalf^ of theB€rard,
Firm's Reg. I-!q;1 25442W
Pdrakramsinh G.Jadeja Vikramsinh R. Rana
Managing Director Whole - Time Director
k* -- 9-z*"o-
Membership No. 033402 Maulik B. Gandhi Kamlesh S. Solanki
Place: Mumbai ptace-:Rqjkot.,,,

Date:, Datel
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. CORPORATE INFORMATION
Jyoti CNC Automation Limited is an Unlisted Public Company, limited by shares and incorporated
under the Companies Act, 1956 with its registered office at Rajkot, Gujarat, India. The Consotidated
financial statements comprise financial statements of Jyoti CNC Automation Limited ("the
Company") and its subsidiaries (collectively, "the Group") for the year ended March 31 2022. The
,
Group is a global player in the machine tools industry with market presence in India and other
countries in Asia, Europe, Middle East, North America, South America and Africa.
The Group is a one-stop metal cutting solutions provider, offering a wide range of CNC metal
cutting products for both Turning and Milling operations, from the entry level to high-end
machines viz; CNC Turning Center, CNC Vertical Machining Center (3-4-5 Axes), CNC Horizontal
Machining Center, Vertical Line CNC Machines and Multitasking Machines. The Group is an
integrated CNC machine manufacturer with design, development and manufacturing most of the
critical components in-house. Group caters to a large customer base spread across Automobile,
Aerospace, Agriculture, Bearings, Consumer Durables, Die and Mould, Diamond Jewellery Defence,
General Engineering, Medical Equipment, Plastic Processing, Pumps and Valves, Railways, Tooling
and Textile Machinery.
2. SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation and presentation, statement of compliance
The Consolidated Financial Statements of the group have been prepared in accordance
with the
Indian Accounting standards ('lnd AS') prescribed under section 133 of Companies Act, 2013
read
with Companies (lndian Accounting Standards) Rules, 2015, as amended from time to time.
Functional & Presentation Currency
Items included in the financial statements of each of the group's entities are measured
using the
currency of the primary economic environment in which the entity operates ('the
functional
currency'). The Consolidated Financial Statements are presented in lndian Rupee ,,{,,,
which is
holding company's functional & presentation currency.
Basis of Measurement
The Consolidated financial statements have been prepared on the historical cost convention and
on an accrual basis of accounting, except for the following material items which have been
measured at fair value as required by relevant Ind AS
Items Measurement Basis

Investments classified as fair value through
Fair value
profit or loss
Fair valueof plan assets less present value of
Net defined benefit (asset) / liability
defined benefit obligations
l. Principles of Consolidation
The Consolidated Financial Statements have been prepared on the following basis:
A. Subsidiaries are all entities (including structured entities) over which the group has control. The
group controls an entity when the group is exposed to, or has rights to variable returns from its
involvement with the entity and has the ability to affect those returns through its power to direct
the activities of the entity. Subsidiaries are fully consolidated from the date ofacquisition up to
the effective date of disposal, as appropriate.
B. The Financial Statements of the Holding Company and its subsidiariesare combined by like
items of assets, liabilities, equity, income, expensesand cash flows.The carrying amount of the
parent's investment in the subsidiary and the parent's portion of equity of the subsidiary have
been eliminated. The intragroup assets and liabilities, equity, income, expenses and cash flows
relating to transactions between entities of the group are eliminated in full. Inter-company
balances and inter-company transactions and unrealised profits or losses have been fully
eliminated.
C. Where any member of the group uses accounting policies other than those adopted in the
consolidated financial statements for like transactions and events in similar circumstances,
appropriate adjustments are made to that group member's financial statements in preparing the
consolidated financial statements.
D. The excess of cost to the Holding Company of its investments in the subsidiary companies over
its share of equity of the subsidiary companies, at the dates on which the investments in the
subsidiary companies are made, is recognised as 'Goodwill' being an asset in the Consolidated
Financial Statements. Alternatively, where the share
of equity in the subsidiary companies as on
r\
the date of investment is in excess of cost of investment of the Company, it is recognised as
/uu,
):
ff red'iy
'Capital Reserve' and shown under the head 'Reserves and Surplus', in the Consolidated
Financial Statements.
E. ln case of a foreign subsidiary, being non-integral operations, revenue items are consolidated at
the average rate prevailing during the year. All the assets and the liabilities are converted at the
rates prevailing at the end of the year. Any exchange difference arising on consolidation is
recognised as"Foreign Currency Translation Difference" in the Statement of Profit and loss.
F. The list of subsidiary companies (direct & indirect) which are included in the consolidation & the
Group Holdings therein are as under:
Sr. Name of the Subsidiary Date of Country of % of Holding As

No. Companv Acquisition Incorporation at31.03.2022
Direct Subsidiary
1 Jyoti SAS 06.09.2007 France lOQo/o
lndirect Subsidiaries
1
I Huron Graffenstaden SAS 20j1.2007 France 100%
2 Huron Frasmaschinen, GmbH 20.11.2007 Germanv 100o/o
3 Huron Canada lnc. 20.11.2007 Canada 100o/o
Jyoti SAS was floated as a 100% subsidiary of Jyoti CNC Automation Ltd on 06.09.2007. Jyoti SAS
thereafter acquired 100% shareholding of Huron Graffenstaden SAS along with its marketing
subsidiaries namely, Huron Frasmaschinen GmbH and Huron Canada lnc. However, the effective
control of these indirect subsidiaries was taken with effect from 01.01.2008.
ll. Property, Plant and Equipment
Property, Plant and Equipment are stated at cost, net of recoverable taxes, trade discount and
rebates less accumulated depreciation and impairment losses, if any. Such cost includes purchase
price, borrowing cost and any cost directly attributable to bringing the assets to its working
condition for its intended use.
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as
appropriate, only when it is probable that future economic benefits associated with the item will
flow to the entity and the cost can be measured reliably. Property, Plant and Equipment which are
significant to the total cost of that item of Property, Plant and Equipment and having different
useful life are accounted separately.
Expenses incurred relating to project, net of income earned during the project development stage
prior to its intended use, are disclosed under capital work - in - progress.
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Gains or losses arising from de-recognition of a property, plant and equipment are measured as
the difference between the net disposal proceeds and the carrying amount of the asset and are
recognised in the Statement of Profit and Loss when the asset is derecognised.
lll. lntangible Assets
Intangible assets are initially recognised at cost.
Subsequent to initial recognition, intangible assets with indefinite useful lives are carried at cost
less accumulated amortization and accumulated impairment losses, if any. Intangible assets with
definite useful lives are amortized on a straight line basis so as to reflect the pattern in which the
asset's economic benefits are consumed.
Intangible assets under development:
The Group expenses costs incurred during research phase

to profit or loss in the year in which they
are incurred. Development phase expenses are initially recognized as intangible assets under
development until the development phase is complete, upon which the amount is capitalized as
intangible asset.
lV. Depreciation and amortisation on Property, Plant & Equipment and Intangible Assets
Depreciation is provided so as to write ofl on a straight-line basis or diminishing balance

method, the cost/deemed cost of Property, Plant and Equipment and the intangible assets,
including right-of-use assets to their residual value as per useful lives prescribed under
Schedule ll of Companies Act, 2013 which are as follows:
Estimated useful life (years)

Particulars Subsidiary
Holding Company
Companies
Leasehold Land On Basis of Lease Not Depreciated
Agreement
Buildinq 60 years 1 0 to 20 vears
Plants and Machinery 15 years 3 to 10 vears

Furniture and Fixtures 10 years 3 to 6 years
Electrical Installation 1o years 3 to 6 years
Office Equipments 5 years 3 to 6 years
Computers 3 years 3 to 6 years
Vehicles:
Four Wheelers 8 years
Two Wheelers 3 to 6 years
10 years
Software 74;5. 10 years 5 years
.+\
The charges of depreciation/ amortisation are commenced from the dates the assets are available
for their intended use and are spread over their estimated useful economic lives or, in the case of
right-of-use assets, over the lease period, if shorter. The estimated useful lives of assets and
residual values are reviewed regularly and when necessary, revised.
Depreciation/ Amortisation on assets under construction/ intangible asset under development

commences only when the assets are ready for their intended use.
Leasehold land is not depreciated.
The Holding Company fully depreciates the assets costing less than Rs. 30,000 in the year of
acquisition.
V. Leases
The Group determines that a contract is or contains a lease, if the contract conveys right to control
the use of an identified asset for a period of time in exchange for a consideration. At the inception
of a contract which is or contains a lease, the Group recognises lease liability at the present value of
the future lease payments for non-cancellable period of a lease which is not short term in nature
except for lease of low value items. The future lease payments for such non-cancellable period are
discounted using the Company's incremental borrowing rate specific to the lease being evaluated
or for the portfolio of the lease with similar characteristics. Lease payments include fixed payments,
i'e. amounts expected to be payable by the Company under residual value guarantee, the exercise
price of a purchase option if the Company is reasonably certain to exercise that option and
payment of penalties for terminating the lease if the lease term considered reflects that the
Company shall exercise termination option. The Group also recognizes a right of use asset which
comprises of amount of initial measurement of the lease liability, any initial direct cost incurred by
the Company and estimated ruin costs.
Right of use assets is amortized over the period of lease.
Payment made towards short term leases (leases for which non-cancellable term is 12 months or
lesser) and low value assets are recognized in the statement of Profit and Loss as rental expenses
over the tenor of such leases.
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",YOTI CNC AUTOMATION TIMITED
NOTES TO CONSOTIDATED FINANCIAL STATEMENTS
Vl. Financial Instruments
i. FinancialAssets
a) Initial Recognition and Measurement

All Financial Assets are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of Financial Assets, which are not at Fair Value Through
Profit or Loss, are adjusted to the fair value on initial recognition. purchase and sale of
Financial Assets are recognised using trade date accounting.
b) Subsequent measurement
A Financial Asset is measured at Amortised Cost if it is held within a business model

whose objective is to hold the asset in order to collect contractual cash flows and the
contractual terms of the Financial Asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.
A Financial Asset is measured at FVTOCI if it is held within a business model whose

objective is achieved by both collecting contractual cash flows and selling Financial
Assets and the contractual terms of the Financial Asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount
outstanding.
A Financial Asset which is not classified in any of the above categories are measured at
FVTPL.
c) Other Equity lnvestments

All other equity investments are measured at fair value, with value changes recognised in
Statement of Profit and Loss, except for those equity investments for which the Group has
elected to present the value changes in 'other comprehensive Income'.
d) Loans to Employees
Loans given to the employees are repayable on demand and hence are carried at
cost in the
Financial Statements.
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.,YOTI CNC AUTOMATION TIMITED
e) Cash & Cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and
highly liquid investments with an original maturity of three months or less, which are subject
to an insignificant risk of changes in value.
f) lmpairment of Financial Assets

In accordance with Ind AS 109, the Group uses'Expected Credit Loss'(ECL) model, for
evaluating impairment of Financial Assets other than those measured at Fair Value Through
Profit and Loss (FVTPL).
Expected credit losses are measured through a loss allowance at an amount equal to:
r The 12-months expected credit losses (expected credit losses that result from those
default events on the financial instrument that are possible within 12 months after the
reporting date);or
. Full lifetime expected credit losses (expected credit losses that result from all possible
default events over the life of the financial instrument)
For Trade Receivables the Groupapplies 'simplified approach' which requires expected
lifetime losses to be recognised from initial recognition of the receivables. The Groupuses
historical default rates to determine impairment loss on the portfolio of trade receivables.
At every reporting date these historical default rates are reviewed and changes in the forward
looking estimates are analysed.
For other assets, the Group uses 12 month Expected Credit Loss to provide for impairment
loss where there is no significant increase in credit risk. lf there is significant increase in credit
risk full lifetime Expected Credit Loss is used.
ii. Financial Liabilities & Equity Instruments
a) Classification as debt or equity

Financial liabilities and equity instruments issued by the Group are classified according to the
substance of the contractual arrangements entered into and the definitions of a financial
liability and an equity instrument.
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b) Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the
Group after deducting all of its liabilities. Equity instruments are recorded at the proceeds
received.
c) Financial Liabilities: Initial Recognition and Measurement

All Financial Liabilities are recognized at fair value and in case of borrowings, net of directly
attributable cost. Fees of recurring nature are directly recognised in the Statement of profit
and Loss as finance cost.
d) Financial Liabilities: Subsequent Measurement

Financial Liabilities are carried at amortized cost using the effective interest rate (ElR) method.
For trade and other payables maturing within one year from the balance sheet date, the
carrying amounts approximate fair value due to the short maturity of these instruments.
iii. De-recognition of Financial Instruments

The Group derecognizes a Financial Asset when the contractual rights to the cash flows from the
or it transfers the Financial Asset and the transfer qualifies for de-
Financial Asset expire
recognition under Ind AS 109. A Financial liability (or a part of a financial liability) is
derecognized from the Group Balance Sheet when the obligation specified in the contract is
discharged or cancelled or expires. The difference in the carrying amount of Financial Liability is
recognised in the Statement of profit and Loss.
iv. Offsetting
Financial Assets and Financial Liabilities are offset and the net amount is presented in the
balance sheet when, and only when, the Group has a legally enforceable right to set off the
amount and it intends, either to settle them on a net basis or to realise the asset and settle the
liability simultaneously.
Vll. Provisions, Contingent Liabilities & Contingent Assets
i.Provisions
Provisions are recognised when the Grouphas a present obligation (legal or constructive) as a
result of a past event, it is probable that the Group will be required to settle the obligation, and
a reliable estimate can be made of the amount of the obligation. The amount recognised as a
provision is the best estimate of the consideration required to settle the present obligation at
the end of the reporting period, taking into account the risks and uncertainties surrounding the
rs
obligation.
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l-ong-term provisions are determined by discounting the expected future cash flows at a pre-tax
rate that reflects current market assessments of the time value of money. Short term provisions
are carried at their redemption value and are not offset against receivables from
reimbursements"
Huron Graffenstaden SAS
Provision for Warranty & Commissioning:
When each new machine is sold, a provision is constituted according to a standard amount
defined for each family of machines for any warranty costs adjusted according to the
specificities of each machine, the country of destination and the distribution network, and an
amount is determined machine by machine for backfitting costs known at the end of the
financial year;The costs of commissioning and training customers are provisioned on the sale of
each machine according to a standard amount defined for each family of machines.
The standard amounts for provisions for warranties are re-assessed at the end of each financial
year taking account of the net expenses actually incurred (hours of labour, cost of parts and
work entrusted to subcontractors, minus any refunds obtained from suppliers of components or
their insurers) during the warranty period and exclusively concerning work done under warranty.
This revision is determined overall for the entire machine base. These provisions are tracked
machine by machine, the net costs incurred giving rise to a writeback of the provision originally
constituted. At the end of the warranty period or on completion of commissioning, the
remainder of the provision is written back in full.
ii.Contingent Liabilities
Contingent liabilities are disclosed when there is a possible obligation arising from past events,
the existence of which will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Groupor a present obligation
that arises from past events where it is either not probable that an outflow of resources will be
required to settle or a reliable estimate of the amount cannot be made.
iii.Contingent Assets
Contingent Assets are neither recognized nor disclosed in the Notes forming part of the
Financial Statements
NOTES TO CONSOLIDATED FINANCIAT STATEMENTS
Vlll. Foreign currency transactions, translation
Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of
transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the
functional currency closing rates of exchange at the reporting date.
The results and financial position of foreign operation that have a functional currency different
from the presentation currency are translated into the presentation currency as follows:
o assets and liabilities are translated at closing rate at the date of that balance sheet
o income, expenses &cash flows are translated at average exchange rates and
. all Resulting exchange differences are recognised in other comprehensive income
On Consolidation, exchange differences arising from the translation of any net investment in
foreign entities, are recognised in other comprehensive income. When foreign operation is sold,
the associated exchange differences are reclassified to profit & loss, as part of the gain or loss on
sale.
Non-monetary items that are measured in terms of historical cost in a foreign currency are
recorded using the exchange rates at the date of the transaction.
Exchange differences arising on settlement or translation of monetary items are recognised in

Statement of Profit and Loss except to the extent of exchange differences which are regarded as an
adjustment to interest costs on foreign currency borrowings that are directly attributable to the
acquisition or construction of qualifying assets which are capitalized as cost of assets.
lX. Employee Benefits:
i.Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for
the services rendered by employees are recognised as an expense during the period when the
employees render the services.
ii.Post-Employment Benefits
a) Defined Contribution Plan:
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JVOTI CNC AUTOMATION TIMITED
Contributions under defined contribution plans are recognised as expense for the period in
which the employee has rendered the service. Payments made to state managed retirement
benefit schemes are dealt with as payments to defined contribution schemes where the
Company's obligations under the schemes are equivalent to those arising in a defined
contribution retirement benefit scheme.
b) Defined Benefits Plan:
For defined benefit retirement schemes, the cost of providing benefits is determined using
the Discounting Cash flow Method, with actuarial valuation being carried out at each year-
end balance sheet date. Remeasurement gains and losses of the net defined benefit
liability/(asset) are recognised immediately in other comprehensive income. The service cost
and net interest on the net defined benefit liability/(asset) are recognised as an expense
within employee costs. Past service cost is recognised as an expense when the plan
amendment or curtailment occurs or when any related restructuring costs or termination
benefits are recognised, whichever is earlier.
The retirement benefit obligations recognised in the balance sheet represents the present
value of the defined benefit obligations as reduced by the fair value of plan assets.
Compensated absences which are expected to occur after the end of the period in which the
employee renders the related service are recognised based on actuarial valuation at the
present value of the obligation as on the reporting date.
Huron Graffenstaden SAS/ Huron Frasmaschinen. GmbH
Retirement Gratuities : the provision was determined according to a method integrating the
numberof years' service, the likelihood of the persons' presence in the company at
retirement age (turnover and mortality), an annual salary adjustment rate of 0.5eo/o, a
discount rate of 0.480/" for retirement at the employee's own initiative at the age of 62.
X. Income taxes
Tax expenses comprise of current and deferred tax. Current and deferred tax are recognized as an
expense or income in the consolidated statement of profit and loss, except when they relate
to
items credited or debited either in other comprehensive income or directly in other equi\61
case the tax is also recognized in other comprehensive income or directly in equity.
m
NOTES TO CONSOTIDATED FINANCIAL STATEMENTS
!.Current Tax:
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net
profit as reported in the consolidated statement of profit and loss because it excludesitems of
income or expense that are taxable or deductible in other years and it further excludes items
that are never taxable or deductible.
The Group's liability for current tax is calculated using tax rates and tax laws that have been
enacted or substantively enacted in countries where the Company and its subsidiaries operate
by the end of the reporting period.
ii.Deferred Tax:
Deferred tax is provided using the liability method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting date. Deferred tax liabilities are recognised for all taxable temporary differences.
Deferred tax is the tax expected to be payable or recoverableon differences between the
carrying value of assets andliabilities in the financial statements and the correspondingtax bases
used in the computation of taxable profit, and isaccounted for using the balance sheet liability
method.Deferred tax liabilities are generally recognized for all taxabletemporary differences. In
contrast, deferred tax assets are only recognized to the extent that it is probable that
futuretaxable profits will be available against which the temporarydifferences can be utilised.
The carrying value of deferred tax assets is reviewed at theend of each reporting period and
reduced to the extent thatit is no longer probable that sufficient taxable profits will beavailable
to allow all or part of the asset to be recovered.Deferred tax is calculated at the tax rates that are
expected toapply in the period when the liability is settled or the asset isrealised based on the
tax rates and tax laws that have beenenacted or substantially enacted by the end of the
reportingperiod. The measurement of deferred tax liabilities andassets reflects the tax
consequences that would follow fromthe manner in which the Group expects, at the end of
thereporting period, to cover or settle the carrying value of itsassets and liabilities.
Deferred tax assets include Minimum Alternate Tax (MAT)paid in accordance with the tax laws in
India, which is likelyto give future economic benefits in the form of availability ofset off against
future income tax liability. MAT is recognized asdeferred tax assets in the Consolidated balance
sheet whenthe asset can be measured reliably and it is probable thatthe future economic benefit
associated with the asset will berealized.
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Xl" Inventories
lnventories are measured at the lower of Cost and Net Realizable Value. The cost of inventories is
ascertained on the weighted average basis, and includes expenditure incurred in acquiring the
inventories, production or conversion costs and other costs incurred in bringing them to their
present location and condition but does not include statutory levies of whom input credits is
availed by the company.
Costs of Finished Goods and Works-in-Progress are determined by taking material cost (Net of
Input tax credit availed), labor and relevant appropriate overheads based on the normal operating
capacity but excluding borrowing costs.
Net realizable value is the estimated selling price in the ordinary course of business, less the
estimated costs of completion and selling expenses. The net realizable value of work in progress is
determined with reference to the selling prices of related finished products.
Xll. Revenue recognition:
a) Sale of Goods:
The Group recognizes revenue from sale of goods measured at the fair value of the
consideration received or receivable, upon satisfaction of performance obligation which is at
a point in time when control of the goods is transferred to the customer. Depending on the
terms of the contract, which differs from contract to contract, the goods are sold on a
reasonable credit term.
b) Sale of Services:
Sale of services are recognised on satisfaction of performance obligation towards rendering

of such services
c) Interest Income:
Interest Income is recognized on time proportion basis depending upon the amount
outstanding and effective interest rate applicable
€;#
JYOTI CNC AUTOMATION !.IMITED
Xlll. Borrowing costs:
Borrowing costs that are directly attributable to the acquisition, construction or production of a
qualifying asset are capitalized during the period of time that is required to complete and prepare
the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use or sale.
Investment income earned on the temporary investment of specific borrowings pending their
expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.
Other borrowing costs are expensed in the period in which they are incurred.
XlV. lmpairment of Non-Financial Assets
The Group assesses at each reporting date as to whether there is any indication that any Property,
Plant and Equipment and Intangible Assets or group of Assets, called Cash Generating Units (CGU)
may be impaired. lf any such indication exists, the recoverable amount of an asset or CGU is
estimated to determine the extent of impairment, if any.
When it is not possible to estimate the recoverable amount of an individual asset, the Group
estimates the recoverable amount of the CGU to which the asset belongs.
An impairment loss is recognized in theConsolidated Statement of Profit and Loss to the extent,
asset's carrying amount exceeds its recoverable amount. The recoverable amount is higher of an
asset's fair value less cost of disposal and value in use. Value in use is based on the estimated
future cash flows, discounted to their present value using pre-tax discount rate that reflects current
market assessments of the time value of money and risk specific to the assets
The impairment loss recognized in prior accounting period is reversed if there has been a change
in the estimate of recoverable amount.
XV. Government grants
Government grants are recognized in accordance with the terms of the respective grant on accrual
basis considering the status of compliance of prescribed conditions and ascertainment that the
grant will be received.
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Government grants related to revenue are recognized on a systematic and net basis in the
Statement of Profit and Loss over the period during which the related costs intended to be
com pensated are incurred"
Government grants related to assets are recognized as income in equal amounts over the expected
useful life of the related asset.
XVl. Earnings per share
Basic Earnings Per Share are calculated by dividing the net profit or loss (excluding other
comprehensive income) for the period attributable to Equity Shareholders by the Weighted
Average Number of Equity Shares outstanding during the period. Earnings considered in
ascertaining the Company's Earnings per Share are the Net Profit after Tax for the year. The
Weighted Average Numbers of Equity Shares outstanding during the period are adjusted for
events of Bonus lssue and Sub-division of Shares.
For the purpose of calculating diluted earnings per share, the net profit or loss (excluding other
comprehensive income) for the year attributable to equity share holders and the weighted average
number of shares outstanding during the year are adjusted for the effects of all dilutive potential
equity shares.
XVll. Standards lssued but not yet Effective

Ministry of Corporate Affairs (MCA) notifies new standard or amendments to the existing
standards. There is no such notification which would have been applicable from April 1, ZOZO.
3. USE OF JUDGEMENTS, ESTIMATES AND ASSUMPTIONS
While preparing consolidated financial statements in conformity with Ind AS, the management has
made certain estimates and assumptions that require subjective and complex judgments. These
judgments affect the application of accounting policies and the reported amount of assets,
liabilities, income and expenses, disclosure of contingent liabilities at the statement of financial
position date and the reported amount of income and expenses for the reporting period. Financial
reporting results rely on the management estimate of the effect of certain matters that are
inherently uncertain. Future events rarely develop exactly as forecasted and the best estimates
require adjustments, as actual results may differ from these estimates under different assumptions
or conditions' Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions
to accounting estimates are recognized prospectively.
Judgment, estimates and assumptions are required in particurar for:
Recognition and measurement of defined benefit obligations
The obligation arising from defined benefit plan is determined on the basis of actuarial
assumptions. Key actuarial assumptions include discount rate, trends in salary escalation,
actuarial rates and life expectancy. The discount rate is determined by reference to market
yields at the end of the reporting period on government bonds. The period to maturity of the
underlying bonds correspond to probable maturity of tire post-employment benefit
obligations. Due to complexities involved in the valuation and its long term nature, defined
benefit obligation is highly sensitive to changes in these assumptions. All assumptions are
reviewed at each reporting period.
il. Recognition of deferred tax liabilities and assets
Deferred tax assets and liabilities are recognized for the future tax consequences of temporary
differences between the carrying values of assets and liabilities and their respective tax bases,
and unutilized business loss and depreciation carry-forwards and tax credits. Deferred tax
assets are recognized to the extent that it is probable that future taxable income will be
available against which the deductible temporary differences, unused tax losses, depreciation
carry-forwards and unused tax credits could be utilized.
lll. Discounting of financial assets / liabilities

All financial assets / liabilities are required to be measured at fair value on initial recognition.
ln case of financial assets / liabilities which are required to be subsequently measured at
amortized cost, interest is accrued using the effective interest method.
lV. Provisions
Significant estimates are involved in the determination of provisions related to liquidated

damages and warranty costs. The Group records a provision for onerous sales contracts when
current estimates of total contract costs exceed expected contract revenue. The provision for
warranty, liquidated damages, onerous contracts is based on the best estimate required to
settle the present obligation at the end of the reporting period.
Legal proceedings often involve complex legal issues and arc subject to substantial
uncertainties. Accordingly, considerable judgment is part of determining whether it is
probable that there is a present obligation as a result of a past event at the end of the
reporting period, whether it is probable that such a Legal Proceeding will result in an outflow
of resources and whether the amount of the obligation can be reliably estimated. Internal and
external counsels are generally part of the determination process.
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NOTES TO CONSOLIDATED FINANCIAI STATEMENTS
Right of Use Assets ({ in Lacs)

Particularc €omputers
ForYrended March 31, 20?1

Gross carrying amount
As at April 01,2020 14
Additions
Disposals/ Other Adjustments
Closing Gross carrying amount 15 15
Accumulated Dep.eciation
As at April 01,2020
-------o-gp-f sjg-tlg-l-9-gt!-s--tltg-y-"-:l
------P-t'-p-o-:91:/-g!!-e-t3.dj-9:!t!-e-!-q--.
Closing Accumulated Depreciation
Net carryrng amount as at
March 31, 2021
For Yr ended March 31, 2022

As at April 01,2021
Additions
Closing Gross carrying amounl 15
Accumulated Depreciation
As at April 01,2021
Depreciation during the year
Cfosing Accumulated Depreciation 12 12
March 31, 2022 4 4
tcY
l//'
*w,uMBN
'''?)
)7
TE{'$
4c Intanqible Assets ({ in Lacs)
Intangible
Development Technical Know-
Particulars Software Trademark Total Asset Under
Rights how
Development
For Yr ended March 31. 202'l

Gross €arrying amount
As at April 01, 2020 7,092 2,041 9,1 33 108
Additions 265 70 337 158
Disposals/ Other Adjustments 72 72 -2
Closing Gross carryinq amount 7,428 2,041 70 9,542 263
A:-cI-Ap{L-0-1,.-?9-?-0-------------------------............................. .-5,-& .,1.,, 11? 5,51 6
Al.oilisilto-ll-qv-rt$-![9J,e-eL------------.......................... ...."?..9..e 1 19"

828
DisDosals/ Other Adiustments
Closing Accumulated Depreciation 5,913 't,431 7,344
Net carrying amount as at
t"516 610 2,1 98 26t
March 31,202tr
For Yr ended March 31, 2022

As at ADril 01,2021 7,428 2,041 70 9,542 263
400
Disposals/ Other Adjustments (6e3) (0) (593)
Cfosinq Gross carryinq amount 7,127 2,041 79 9,249 458
As at April 01, 2021 5,913 1,431 7,344
--.---Ag-.-r!.1i!i.9:l-qg]19-!l-9J-e-et
672 115 788
Disposals/ Other Adiustments (674) (57,1)
Closinq Accumulated Oepreciation 5,911 1,546 7,458
Net carrying amount as at
1,216 495 78 1"791 458
March 31,2022
Ageing of lntangible asset under

development
As at March ?1,2022
iParticular
:.lrler9i-qF.A::s.1.-u-*gr.Pgy-e-lgp.ngnl
As at March 31, 2021
: triiri;ji,,ltiii i"*!"d$i
' ta/
uUliBAt')r
r*n69
5 Non- Current lnvestments (Rs. In Lacs)

As at As at
Particulars March 31,2022 March 31,2021
Nos. Nos.
Investments measured at cost
Other lnvestments
Unquoted
lnvestment in shares of Kaluour Bank 8,000
8,000
Investments at fair value through profit or loss

Unquoted
lnvestment in BOI
Lsv* i g
t..9-g l-4...P--"- N-q .
500 26 500 22
s00 26 500 22
Quoted
Investment in Union Corporate Bond Fund Regular
12,58,442 157 12,58,442 '151
Plan
11 99,99s 10
13,63,901 170 13,58,437 161

Total Non-current investment 13,64,401 196 13,66,937 185
13,63,901 129 161

...:1.3'19,131
Market Value of quoted investments 170 13,58,437 161
uUlrBAl ir
-69
(t in Lacs)
6 Other Non Current Financial Assets
As at the As at the
Particulars
March 31,2022 March 31,2021
( Unsecured, considered good )
Banks Term Deposits having maturity period more than 12
498 1,189
months from the Balance Sheet date
Total 498 1,189
7 Other Non-Current Assets

As at the As at the
Particulars
March 31,2022 March 31,2021
( Unsecured, considered good unless otherwise stated )
-!-"-gyl!y-P-ge-o-s-r-t----_____ 2,025 580

.,:__::__:..::__:__:__:_::___..e:i_
Other Advances lRc ?oa
Total 2,439 1,105

( " For Related Party Transactions Refer Note No. 35 )
8 Inventories
As at the As at the
Particulars
March 31,2022 March 31,2021
Inventories are measured at lower of Cost and NRV
Raw materials (including in Transit)/Manufactured Components 21,195 22.632
lil!:lrgO goods 3 sB1 2 qql

J I
---'-t-"-:-:------ ',J
65,303 68,293
6#R
*(/tuuilAt l1
*#
JVOTI CNC AUTOMATION LIMITED
(t in Lacs)
9 "Frade Receivables
As at the As at the
Farticulars
March 31,2022 March 31,2027
-V-l:-"-:1,-t99.,-!-o-$jg_9r_q_9_9_._ql_
-g-egi!-[lp-q'lqq
Total 20,019 21,799

( " For Related Party Transactions Refer Note No. 35 )
As at the
March 31,2022
lncluded in the financial statements above:

- Undisputed trade receivables considered good
Less than 6 months 15,214
More than 3 vears
Less Credit lmpaired
Less than 6 months
Uil8A' ):
ffi,g
(t in Lacs)
As at the As at the
Particulars
March 31,2022 March 31,2021
11 Other balances with bank

As at the As at the
Particulars
March 31,2022 March 31,2021
Bank balances other than cash and cash equivalents
Balances with Banks in Term Deposit Accounts to the extent held
2,012 1,235
-?:-14-qpiL!!t_olt_ey-?_9p_g_sil:
12 Loans- Current
As at the As at the
Particulars
March 31,2022 March 31,2021
Unsecured, considered good
-Lg-qr__t_q_Ertlgy-e_qf 485 472
Total 485 472

( * For Related Party Transactions Refer Note No. 35 )
13 Other Financial Assets- Current

As at the As at the
Particulars
March 31,2021
Interest Accrued on Banks Term Deoosits

39
Other Receivable 916 329
Total 916 368

* ( For Related Party Transactions
Refer Note No. 35 )
14 Other Current Assets

As at the As at the
Particulars
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(t in Lacs)
As at the As at the
Particulars
March 31,2022 March 31,2021
Securities Premium
As Per Last Balance Sheet c g4B 9,848
--"-,i------____
Add : Receipts on Allotment of Shares
9,848 9,849
(Amounts received on issue of shares in excess of the par value has been classified as securities premium)
Capital Reserve on Consolidation 3,694 3,461
Capital Reserve on Consolidation arises when value of net assets acquired exceeds the cost of investment made
of the net defined benefit
(15,297) (13,930)
(Retained Earnings comprise of the company's undistributed earnings after taxes and other comprehensive
income. The items of Other Comprehensive income consists of remeasurement of net defined benefit liability/
asset)
Exchangedifferencesarisingontrans|ationofassets,|iabi|ities,incomeanue*@
subsidiaries are recognised in other comprehensive income and accumulated separately in foreign currency
translation reserye.
7,465
Total 1,353 7,616
ry F\A
,,*,8,
:it
w #{g
(t in Lacs)
17 Borrowings
A Non Current
As at the As at the
Particulars
March 31,2OZZ March 31,2021
Secured - At amortised cost
"I-u-tn-Lg-gli'-:-tq[-a-qd:' 13,ss3 11,8s1

rm o;ni ;;- il u'.;A bt i;;il; ;'.dil ilil;;;
-
aTe I f ;-
-b-;;
il; -----
the Company's immovable & movable assets and second charge

on inventory, receivables & other current assets, both present
and future)
Vehicle loans 286

(Vehicle loans are secured by way of hypothecation of vehicles)
.!_o_t'_g_J_e_n_V9_t_94_ty__9f_iit_a_1_c-e_J_e_99-e__9p.ilig-qltel 45 85
14,O27 11,944
Unsecured - At amortised cost
._D_gp-g_s_'_t_s_ltg_rl_ttt!gl_-_c_qp_glgt_q_Q-o_9 j_"_r________
2,115 70
9,879 6,076
Total 23,906 18,020

* ( For Related Party Transactions Refer
Note No. 38 )
B Current
As at As at
Particulars
March 31,2022 March 31,2021
Secured - At amortised cost
o# p;;i .ffiil;tt ffi;; ;g;t;b6 il &;ffi od;ii"s "'12'?19-" ' 48'681
Capital Limits) are secured by first charge on pari passu basis

over Parent Company's stock & book debts and second charge
on pari passu basis over Parent Company,s immovable and
movable assets)
(The borrowings of subsidiary is secured by pledge on its current

assets including stock and book debts/ receivables/invoices and
business pledge of Euro 10 Million and first rank mortgage on
Factory Building. The same is also secured by corporate
guarantee of Parent Company and personal guarantee of
Promoter Directors of Parent Company)
.!-o-g$-e$_A9_u_crl99_s_|l_9r_gll'_9f _l_c_q[gtt]-
Total 55,310 54,493

(t in Lacs)
1) As at March 3L,2022, <547.76 crore (March 3L,2027: {515.58 crore)
of the total outstanding borrowings were
secured by a charge on property, plant and equipment, inventories, receivables
and other current assets
2) As at March 37,2022, the register of charges of the company as available

in records of the Ministry of corporate
Affairs {McA) includes charges that were created/modified since the inception
of the company. There are certain
charges which are historic in nature and it involves practical challenges in obtaining
no-objection certificates (Nocs)
from the charge holders of such charges, despite repayment of the underlying loans.
The company is in the continuous
process of filing the charge satisfaction e-form with MCA, within
the timelines, as and when it receives NoCs from the
respective charge holders.
3) Details of Borrowing as at March 31,2OZZ is as below :_

Term Loan from Bank
(i) Rupee Loan outstanding as at 31st March, 2022 Amounting
to Rs. 16g Lacs (Rs.445 Lacs on 31st March, 2021)
by Oriental Bank of Commerce is repayable in Monthly Installment and Last Installment
will be on O8th Nov, 2022
(ii) Rupee Loan outstanding as at 31st March, 2022 Amounting
to Rs. 1387 Lacs (Rs. 1725 Lacs on 31st March,
2021) by Oriental Bank of Commerce is repayable in euaterly Installment and
Last Installment will be on 9th Sep,
2027 having interest rate of MCLR 1yr + 3.50o/o.
(iii) Rupee Loan outstanding as at 31st March,2022 Amounting
to Rs.35 Lacs (Rs. 17g Lacs on 31st March,2021)
by Oriental Bank of Commerce is repayable in Monthly Installment and Last Installment
will be on 17th June, 2022
having interest rate of 'l yr MCLR + 0.5%.
(iv) Rupee Loan outstanding as at 31st March, 2022 Amounting

to Rs. 860 Lacs by oriental Bank of Commerce is
repayable in Monthly Installment and Last Installment will be on 31st May, 2026
having interest rate of MCLR 1 yr
+ 1% with 9.250/" ceiling.
(v) Rupee Loan outstanding as at 31st March, 2022 Amounting

to Rs.42B Lacs by oriental Bank of Commerce is
repayable in Monthly Installment and Last Installment will be on 30th Nov,
2027 having interest rate of MCLR 1 yr
+ 1% with 9.25o/o ceiling.
(vi) Rupee Loan outstanding as at 31st March, 2022 Amounting
to Rs. 320 Lacs by Bank of Baroda is repayable in
Monthly Installment and Last lnstallment will be on 19th Feb, 2028 having interest
rate of MCLR 1 yr + 1%with
9.25olo ceiling .
(vii) Rupee Loan outstanding as at 31st March,2022 Amounting

to Rs.626 Lacs (Rs.640 Lacs on 31st March,2021)
by Bank of Baroda is repayable in Monthly Installment and Last Installment will
be on 25th Mar, ZO26having
interest rate of MCLR 1 yr + 1o/o .
(viii) Rupee Loan outstanding as at 31st March,2022 Amounting
to Rs.35 Lacs (Rs.447 Lacs on 31st March,2021)
by Bank of India is repayable in Monthly Installment and Last Installment will
be on 30th Apr,2022having interest
rate of MCLR 1 yr + 1o/o .
(ix) Rupee Loan outstanding as at 31st March, 2022 Amounting
to Rs. 930 Lacs (Rs. gg8 Lacs on 31st March, 2021)
by Bank of India is repayable in Monthly Installment and Last Installment
will be on 2gth Jan,2026having interest
rate of MCLR 1 yr + 1o/o .
(x)RupeeLoanoutstandingasat3lstMarch,2022AmountingtoRs.
1500Lacs byBankoflndiaisrepayablein
Monthly Installment and Last Installment will be on 08th Ju.,2026 having
interest rate of MCLR 1 yr + 1o/o .
UMBAI lr
U.*#
NOTES TO CONSOTIDATED FINANCTAL STATEMENTS
(t in Lacs)
(xi) Rupee Loan outstanding as at 31st March,2022 Amounting to Rs. 110 Lacs (Rs. 767
Lacson 31st March,2021)
by Union Bank of India is repayable in Monthly Installment and Last Installment will be on 15th May, Z0Z2 having
interest rate of 8o/o .
(xii) Rupee Loan outstanding as at 31st March, 2022 Amounting to Rs. 962 Lacs by Union Bank
of India is
repayable in Monthly Installment and Last Installment will be on 02nd Dec,2027 having interest rate of MCLR 1 yr
+ 0.6 % .with 9.25% Ceiling.
(xiii) Rupee Loan outstanding as at 31st March, 2022 Amounting to Rs. 1913 Lacs by Union Bank of India is
repayable in Monthly Installment and Last Installmentwillbe on 05th Jul,2026 having interest rate of MCLR 1 yr +
0.6 %.with 9.25% Ceiling .
(ivx) Rupee Loan outstanding as at 31st March, 2022 Amounting to Rs.22 Lacs (Rs. 567 Lacs
on 31st March, 2021)
by State Bank of India is repayable in Monthly Installment and Last Installment will be on 6th April,2022 having
interest rate of MCLR 1 yr.
(xv) Rupee Loan outstanding as at 31st March,2022 Amounting to Rs.656 Lacs (Rs.670 Lacs
on 31st March,2021)
by lDBl Bank is repayable in Monthly lnstallment and Last Installment will be on 31st March, 2026 having interest
rate of MCLR 1 yr with 9.25o/o Ceiling .
(xvi) Rupee Loan outstanding as at 31st March,2022 Amounting to Rs.476 Lacs by lDBl Bank is repayable in
Monthly Installment and Last Installment will be on 21st January, 2O2B having interest rate of MCLR 1 yr with
9.25o/o Ceiling.
(xvii) usD Loan outstanding as at 31st March, 2022 Amounting to Rs.96.00 Million (usD 11.4
Million on 31st
March 2021) by EXIM Bank is repayable in Monthly Installment and Last Installment will be on 30th September,
2025 having interest rate of 6M Libor + 4o/o .
(ixx) USD Loan outstanding as at 31st March, 2022 Amounting to Rs. 2.00 Million by EXIM Bank is repayable in
Monthly Installment and Last Installment will be on 30th September, 2025 having interest rate of 6M Libor + 4o/o .
Vehicle Loan from Bank & Fl
(i) Rupee Loan outstanding as at 31st March, 2022 Amounting to Rs.6 Lacs by HDFC Bank
is repayable in Monthly
lnstallment and Last Installment will be on 05th August, 2023 having interest rate of MCLR 1 yr with B.g6o/oCeiling
.
(ii) Rupee Loan outstanding as at 31st March, 2022 Amounting to Rs.42 Lacs by HDFC
Bank is repayable in
Monthly Installment and Last Installment will be on 15th March, 2025 having interest rate of MCLR 1 yr with gs1%
Ceiling .
lilruuon !*
b"t*9
JYOTI CNC AUTOMAT'ION TIMITED
NOTES TO CONSOTIDATED FINANCIAT STATEMENTS
(t in Lacs)
Loan Repayable on Demand
(iXa) working Capital Limits of Rs. 9868 Lacs provided by Union Bank of India
which is to be renewed every year is
having interest Rate of MCLR 1yr +4.25o1o. Less 2.60/o Concession
(ixb) PcFc Limits of Rs. 1 150 Lacs provided by Union Bank of India which is to be renewed
every year is having
margin 10olo of FoB value and appliacble charges as per the sanction Letter.
(ixc ) Buyer's credit facility as sub Limit under Inland/lmport LC of 4300 Lacs
(ii) Working Capital Limits of Rs. 8300 Lacs provided by State Bank of India which
is to be renewed every year is
having Interest Rate of MCLR 6M+2.00%.
(iii)(a) Working Capital Limits of Rs. 4960 Lacs provided by Bank of India which
is to be renewed every year rs
having Interest Rate of MCLR 1yr+3.00%.
(iiiXb) Working Capital Limits of Rs" 800 Lacs as a Sub-Limit of Working Capital Limit provided
by Bank of India
which is to be renewed every year.
(iv) Working Capital Limits of Rs. 3850 Lacs provided by lDBl Bank which is to be renewed
every year is having
Interest Rate of MCLR 1yr+4.45o/o.
(v) Working Capital Limits of Rs. 3200 Lacs provided by Bank of Baroda which
is to be renewed every 6 Months is
having interest Rate of MCLR 'lyr+7.00%.
(vi) Working Capital Limits of Rs. 2000 Lacs provided by Oriental Bank of Commerce
which is to be renewed every
year is having Interest Rate of MCLR 1yr+3.50%"
(vi) Working Capital Demand Loan Limits of Rs. 4000 Lacs provided by Saurashtra
Grahmin Bank which is to be
renewed every year is having Interest Rate of 10.650/o Card Rate.
(vii) Working Capital Demand Loan Limits of 15 Million Euro provided by State Bank of India
Antwerp Branch which
is to be renewed every year is having Interest Rate of 3.50% Card Rate.
ry-j)
UU[,I8A'
J:
S*".#
(t in Lacs)
4)
As at the
March 31,2021
'
5)
_.ryhl||jlyP_fof!!e "f...s..*.f.t:..9...!r..9f-o.y-i.1reJ.j1.cl_g_4iTs Syl'""t maturities is as betow:-
i i As at the i ;;;.;;; j
iklti::ht.... i rvtarch 31, zozz i na".cr, 31, zozl i
::::
iNot Later than 1 year or on Demand i ss er,, ! i
ti
iLater than one year but not two years ; 5,310 ; , n ni
i
ii,i
1-tg1911fan two year but not three years i. S.tqt i . orni

:iii
itlt:.t.t$*[_e_.e_y99lq_yl lot four years i +,sso i 4,o2oi
iii:
ilater than four year but not five years i r qcs i i
i:
:::: year
ip1e91er than 5 i a,ztzi 4.117i
.i
::ii
irotaf i z9,216 i 7z,z4s i
.,YOTI CNC AI,'TOMATION L!MITED
(t in Lacs)
18 Provisions- Non Current
As at the As at the
Farticulars
March 31,2022 March 31,2021
_ry_o_yit_tgllg_LE1p_t_gy_"" benefits 1,217 2,330
Total 1,217 2,330
19 Deferred Tax Liabilities (Net)

As at the As at the
Particulars
March 31,2022 March 31,2021
R 1?n alâ
-9-p.e.ljl-g-9-q!-ql-.-g-gl-l!g-t-ItUttg-P-i{-q,s!'-c-9-----------------.------,-::-Y----------
--c-'lttg$-Ys-qr--qll919-e---- ------- 126 tAlA\
\v I T,l
8,256 8,129
_9_p_"_ll_g_9_ql_ql_._e_9_glss_"_9_I_ellieg_{iv_$_et) z,o7z 2,234

__O_p_"_{l_g_9_qt_ql._g-Y4r Credit Entitlement 5
-----.--------:
_r sa
Current Year Ch
2,O79 2,072
Te$g&{\
;^;'rt
ft*<-g
(t in Lacs)
20 Trade payables
As at the As at the
Farticulars
March 31,2022 March 31,2027
Trade payable
Trad - Micro and small enterprisen ,J
___l_______-__ lzl
T--l^
29,463
-^----t-r
Ig-9S_f_qyq!]e - Other than Micro and smail enterprise# 31,071
Total 29,536 31,192

* The company has requested the suppliers
to give information about their status as Micro, Small and Medium
Enterprises as defined under the MSMED Act, 2006. Details to the extent available has
been reported. (Refer Note
No. 33)
(# For Related Party Transactions Refer Note No. 35)
Included in the financial statements above:

Trade payablgs
Trade payable - Other than Micro and small enterprise#
Less than 1 year 27,705 25,987
1-2 years 1,449 2,549
2-3 years -0 s90
More thqn 3 years 310 1,946
Total 29,463 31,071
Trade payable - Micro and small enterprise*

Less than 1 year 72.58 108.33
!,!years 4.42 12.99
2-3 years
More than 3 years
Total
73 121
ffi#
(l in Lacs)
21 Other financial liabilities
Particulars As at the As at the

March 31,2022 March 31,2027
Tota! 2,932 6,151
22 Other Current Liabilities

As at the As at the
Particulars
March 31,2022 March 31,2021
-{9Y-{-'-q:-g-g-eil-rt--s-elg: 1,309 5,651
Statutory Dues 5,696 4,038
Income Received in Advance 1,032 3,308
Total 8,038 12,997
23 Provisions- Current
Particulars As at the As at the

March 31,2022 March 31,2021
_ffg-yir_tgll_o_i-r_npj_gy_q" benefits 1B1 168
181 168
(Rs. In Lacs)

Particulars
March 31,2022 March 31,2021
Total 77,O16 53,215

u ( For Related Party Transactions Refer Note No. 35 )
# Other Operative income primarily includes income from export & other incentive schemes
The Company has given information of disaggregated revenues from contracts with customers for the year ended
31 March 2022by its major category of products.
24.1 Details Of Sale of Product

Particulars
March 31,2022 March 31,2021
24.2 Details Of Services Rendered

Particulars
March 31,2022 March 31,2021
Total 2,O93 1,799
25 Other income
Particulars
March 31,2022 March 31,2021
Interest Income *
123
.-c-gil--o-l-:_qls-_gl_r_qp_sr!y.rln!.*._Esltpne$__-
Total 357 991

* ( For Related Party Transactions
Refer Note No. 35 )
{d
)v
J*
^#
JYOTI CNC AI,,,TOMATION LIMITED
t\tOTES TO CONSOTIDATED FtNANC|AL STATEMENTS
(Rs. In [acs)
26 Cost of material consumed

Particulars
March 31,2022 March 31, 2021
---r:i::i-Y_-"-:Y_:: 25,415 37,604
Add: Purchases* 41,147
____-_______- 33,668
66,562 71,272
Translation Reserve (72)

46,386
( * For Related Party Transactions
Refer Note No. 35 )
27 Changes in inventories of finished goods and work-in-progress
particulars For the year ended For the year ended

March 31,2022 March 31, 2O21
41,245 24,100
Less: Closing stock
28 Emplqyee Benefits Expenses
Particulars
March 31,2022 March 31, 2021
Contribution
Lvf rurwuuvil to
ru rruvtuefil
Provident o(
& Other
L,tner runos
Funds ) )A2
Lt-_r a(JZ
n+lr^, E-^l^.,-- h^-^t:. F----, -
* ( For Related Party

Transactions Refer Note No. 35 )
29 Finance Costs

Particulars
March 31,2022 March 31, 2021
Other Borrowing Cost

-B-9Jt!-g_9_$_e_r_I_,tignte!-!!ttr9_9:_____-_________-. 905 1,039
Forex Fluctuation on Loan
Total
7,551
( * For Related Party Transactions Refer Note No.l5 )
(Rs" In Lacs)

Particulars
March 31,2022 March 31,2021
5,963 4,420
5,374 5,107
Total 11,337 9,527

( * For Related Party Transactions Refer Note No. 35
)
(# Refer note no.41 of Notes forming part of Financial statements)
NOTES TO CONSOLIDATED F[NANCIAL STATEMENTS
(Rs" ln Lacs)
31 Tax Expense
Farticulars For the year ended For the year ended

March 31,2022 March 31,2021
a) Income Tax Expense
-!-.tttgt[-r-gl_o_l_fgJits__leI_tl_e_y-gg_ 6s0
Deferred Tax (1s4)
655 (1s4)
b) Reconciliation of Tax Expense and the accountlng
Profit multiplied by the Indian Tax Rate
Profit before Tax (3,014) (7,873)
Less: Income / Loss attributable to foreign subsidiaries (s,s94) (s,731)
Income exemot from tax/items not deductible (559) 618

Additional Tax benefit for Research & Development Expenditure
nised in Profit and Loss

Particulars
March 31,2022 March 31,2021
m;9
,"rt*g
(Rs. In Lacs)
33 According to information available with the Management, on the basis of information received from
suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,
2006('MSMED Act'), the Company has amounts due to Micro, Small and Medium Enterprises under the
said Act as follows:
As at As at
Particulars
March 31,2022 March 31,2021
(a) Principal amount remaining unpaid to any supplier at the end
73 107
of the year
(b) Interest due thereon remaining unpaid to any supplier at the
end of the year
(a) The amount of principal paid beyond the appointed date

154
(b) The amount of interest paid beyond the appointed date
The amount of interest due and payable for the period of delay in
making payment (which have been paid but beyond the appointed
day during the year) but without adding the interest specified 10
under the MSMED Act, 2006
The amount of interest accrued and remaining unpaid at the end

of each accounting year 15
The amount of further interest remaining due and payable even in

the succeeding years, until such date when the interest dues above
are actually paid to the small enterprise, for the purpose of
disallowance of a deductible expenditure under section 23 of the
Micro, Small and Medium Enterprises Development Act, 2006.
4-Sq
hIOTES TO STANDALONE FINANCIAT STATEMENTS
(Rs. ln Lacs)
ent Liabilities & commitments - To The Extent Not provided For
Farticulars As at As at
March 31 2022 March 31,2021
A Contingent Liabilities
Letter of Credit, Standby Letter of Credit, Letter of Comfort &

Bank Guarantee
Outstanding Letter of Credits & Bank Guarantee 10,257 10,668
Outstanding Standby Letter of Credit & Letter of Comfort * € 60,00,000 € 60,00,000
Corporate Guarantee
Guarantees given by the Company to banks on behalf of step down
subsidiary" € 90,00,000 € 90,00,000
ill Claim Against the Company not Acknowledged as Debt

Vendor 6
Customer
Compensation Claim 58 5B
Amount paid under protest 36 36
Bank 256
tv Disputed Excise Duty, Service Tax & Other Liabilities

Disputed Excise Duty, Service Tax, & other Liabilities in respect of
Pending Litigations before Appellate Authority & Against which
amount paid Under Protest are as follows :
Disputed Excise Duty Liabilities 273 254

Disputed Income Tax Liabilities 139 131
Disputed CST Liabilities 2,076 817
Disputed VAT Liabilities 285 47
Disputed GST Liabilities 860
Amount Paid Under Protest - Excise Duty 44 24

Amount paid Under protest - CST 222 222
Amount paid Under protest - VAT 27 6
B Commitments
' other commitments - Export obligation Against Advance License 213 1,157
( * For Related Party Transactions Refer Note No. 35
)
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JYOTI CNC AUTOMATIOI{ LIMITED
hIOTES TO CONSOTIDATED FINANCIAT STATEMENTS
36 Disclosure Pursuant To Ind Accounting Standard - l9 - Employee B€nefits
36.1 Defin€d Contribution Plan

The parent company has recognized ' 3,48,4'1,573 &' 3.41,68,645 l- in the Statement of profit & Loss for the year ended March 31,2022 & March
31, 2021 respectively under Defined Contribution plan.
36.2 Defined Benefit Plan

The following table summaries the component of Net Benefit Expenses recognized in the
statement of profit & Loss and amounts recognized in the
Balance Sheet as per Actuarial Valuation Report.
Particulars March 31, 2022 March 31.2021

comPentated Compensated
Gratuity
Net Asset / ( Liability ) Recognized in Balance Sheet
Present Value of Funded Defined Benefit Oblioations 1,167 1,03s
Fair Value of Plan Assets (123) (11s)
Present Value of Unfunded Obligation 1,U5 921
Unrecognized Past Service Cost
Unrecognized Actuarial Loss
:"
Net Asset in the Balance Sheet (363)
Components of Employer Expenses
Current Seruice Cost tz5 1l5 41
Adjustment to the Opening Fund
Interest cost on Defined 8enefit oblioation 67 57
Expected Return on Plan Assets (8) (e)
Past Seruice Cost
Net Actuarial Loss / ( Gain ) Recognized in year
in The Statement of profit & Loss 181 26 162
Change in Defined Benefit Obligations - DBO during the year ended
Opening Defined Benefit Obligation 1,035 363 879 338
Current Seruice Cost ',l5
123 40 1 41
Interest Cost On Defined Benefit Obligation
23 57 22
Other Adjustment
Actuarial Loss / ( Gain ) (38) o (19)
Past Seruice Cost
Benefits Paid -62 (36)
- e2\ (1g)
_. Closirlg Dqfined Benefit Obligation _ 1,167 353 1,035 363
Change in f"i. V"
Opening Fair Value of plan Assets I 15 - pg
Adjustment to Fund
Interestlncome g - 9 _
Expected Return on Plan Assets (O) eq
Actuarial Gain / ( Loss )
:Ii:#fiij*:::lnroreisnc,ans - : .. -
Benefits Paid
Closing Fair Value of Plan Assets r rr
Oth"r Co-p.eh
Components of actuarial gain/losses on obligations:
Due to Change in financial assumptions
Due to change in demographic assumption
Due to experience adjustments
5 6
Return on plan assets excluding amounts included in interest income
0
Amounts in Other Income 5 30
Investment Details
Government of India Securities
Corporate Bonds
Special Deposit Scheme
Policy of Insurance
100.00% 1oo.0o%
Insurer Managed Funds
Others
Principal Actuarial
Discount Rate
7.25o/o 6.850/0_ 6.85%
Expected Rate Of Return
6.85%
Interest Rate
ry*s
uuu8Af
);
V-re'ttf,
Salary Escalation 6.00o/o 6.O00/o 6.000/0
Retirement Age
Proportion of Emptoyees opting for Early Retirement 0.00% 0.00% 0.007o 0.00%
Attrition - Withdrawal 1% to 15olo 1o/o to 1 5o/o to'150/0
Current Liability t50 45 tzJ 46
NOn
308 798 318
Net as at March & March 3'!,2021 921
Expected Future Cash Flow (Undiscounted)

Year 1
135 45 116 46 1,O0,000
Year 2 88 35 64
Year 3 75 29 76 34
Year 4 62 30 63 27
Year 5 el 29 70 2a
Year 6 and Year l0 383 727 327
The estimates of rate of escalation in future salary considered in Actuarial Valuation, take into account inflation. seniority, promotion
and other
relevant factors including supply & demand in the Employement Market. The above information is certified by The Actuary. The
details above retates
to parent company only.
ffi)
Wi:g
Notes to the Consolidated financial statements for the year ended 3l March 2022
37 Fair Value Measurements
Financial instruments by category
As at March 31,2022 As at March

Particulars
31,2021
Amortised Cost
Financial tiabilities
Borrowings
(including current maturities and
79,217 72,513
interest accrued but not due)
29,536 31,192
iabilities
6,151
Total Financial Liabilities 1,11,685 i
l. Fair value hierarchy

The following table provides an analysis of financial instruments that are measured
subsequent to initial recognition at fair value, grouped into Level
Level 3, as described below:
1 to
Quoted prices in an active market (Level 1): This level of hierarchy includes financial assets that are
measured by reference to quoted prices (unadjusted)
in active markets for identical assets or liabilities.
Valuation techniques with observable inputs (Level 2): This level of hierarchy includes
financial assets and liabilities, measured using inputs other than
quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e., as prices) or indirectly (i.e., derived from prices). This
level of hierarchy includes the Group's investments in Gold Funds; prices of
which have been derived from MCX.
Valuation techniques with significant unobservable inputs (Level 3): This level
of hierarchy includes financial assets and liabilities measured using inputs
that are not based on observable market data (unobservable inputs). Fair values are
determined in whole or inpart, using a valuation model based on
assumptions that are neither supported by prices from observable current
market transactions in the same instrument nor are they based on available
market data. This level includes investment in unquoted equity shares.
.,YOTI CNC AT.ITOMATION LIMITED
Notes to the Consolidated financial statements for the year ended 31 March 2022
37 Fair Value Measurements (Contd.)
(Rs. ln Lacs)
As at March 31,2022
Particulars
Level 1 Level 2 Level 3 Total
Financial Assets
Investment in Mutual Fund 170
.hy.e-s-LT9.!ll:_,::__c_gl9__e__"ll_{:______..............
170 26 '!96
Financial Liabilities
As at March 31" 2021

Particulars
Level 'l Level 2 Level 3 Total
Financial Assets
161 22 183
Financial Assets:
The Carrying amounts of trade receivables, loans and advances to related parties and other financial assets, cash and cash
equivalents are considered to be the approximately equal to the fair values.
Fair values of Loans from banks, other financial liabilities and trade payables are considered to be approximately equal to the
carrying values.
Investments carried at fair value are generally based on market price quotations. The investments included in the level 3 of
the fair value hierarchy have been valued using the cost approach to arrive at their fair value. Cost of unquoted equity
instruments has been considered as an appropriate estimate of fair value because of a wide range of possible fair value
measurements and cost represents the best estimate of fair value within that ranqe.
Management uses its best judgement in estimating the fair value of its financial instruments. However, there are inherent
limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates
presented above are not necessarily indicative of the amounts that the Group could have realised or paid in sale transactions
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Notes to Consolidated Financial Statement
41 Corporate Social Responsibility Expenses (parent Company)

A Gross Amount required to be spent by the parent company during the year 2021-2022:7 24
B Amount spent during the year on:

(t in Lacs)
Particulars 2021-2022
In Cash Yet to be paid Total
i) Construction/ Acquisition of any Assets
ii) Purposes other than (i) above 25 25
C Company has no Carry Foruuard Shortfall for CSR Expense for amount to be spent in CSR Expense
D The Company does not make any CSR transaction with Related party
E The nature of CSR activities undertaken by the Company as below:

in Lacs)
Particular Year Ended March Year Ended March 31,
31,2022 2021
1. Promotinq Education 9 6
2. Skill Development 5 41
3. Promoting Cleanliness 11 13
Total 25 60
42 The parent company started building medical devise, mainly ventilators in view of the global pandemic
which struck
lndia in March 2020 as a good Corporate measure towards social responsibility and as a goodwill gesture
to fight this
unknown disease. The company does not have any intention to pursue the said business in future and hence
shall not
form part of the overall portfolio of business going fonrrard. Accordingly the company has not disclosed information
under segment Reporting as this has not been considered as an operating segment.
43 The outstanding balances as at March 31,2022 in respect of Trade Payables, Trade Receivables,
Loans & Advances and
deposits are subject to confirmation from respective parties and consequential reconciliation and/or
adjustments
arising there from, if any. The Management, however, does not expect any material variation.
44 According to the opinion of the Management, the value of realization of current assets, loans and
advances and other
receivables in the ordinary course of business would not be less than the amount at which they
are stated in the
Balance Sheet.
JVOTI CNC AUTOIVIATION LIMITED
frlotes to Consolidated Financial Statement
Additional R.egulatory Information

A. Details of Benami Property held
The Group does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property"
E" Wilful Defaulter
Not Applicable
C"Relationship with Struck off Companies under section 248 of the Companies Act, 2013
The Group does not have any transactions with companies struck off under section 248 of the Companies Act, 2013.
D. Registration of charges or satisfaction with Registrar of Companies

The parent company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
E. Compliance with number of layers of companies
The parent company has complied with the number of layers prescribed under clause (S7) of section 2 of the Act read
with the Companies (Restriction on number of Layers) Rules, 2017.
F. €ompliance with approved Scheme(s) of Arrangements
Not Applicable
As per our report of even date For & on behalf of the Board.
For M/s G.K. Choksi & Co.
n,.{ilC
\t CNF
Managing Director Whole - Time Director
:E-'lL>r,-
t1**
Partner Maulik B. Gandhi Kamlesh S. Solanki
Membership No. 033402 Company Secretary Chief Financial Officer
Place: Mumbai Place: Rajkot

Date : AF' o 9'93 '
oat{: g FFB
?a?3

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Jyoti CNC Automation Limited Annual Report

Propelling Technology, Prospering Life 2021-22

BOARD OF DIRECTORS & COMPANY’S INFORMATION

Board of Directors Committees and its Membership

Mrs. Rajshreeba P. Jadeja

Statutory Auditor Ph. No.: 02827 – 235100

STANDALONE FINANCIAL PERFORMANCE:

Financial Results 2021 – 22 2020 – 21

Revenue from Operations 678.23 436.33

Other Income 8.27 16.72

Total Revenue 686.50 453.05

EBDIT 117.48 70.99

Less : Finance Cost 65.16 66.04

Depreciation & Amortization 26.52 26.38

Profit Before Tax (PBT) 25.80 (21.43)

Less: Tax Expenses 6.55 (1.54)

Paid Up Share Capital 29.48 29.48

Reserves & Surplus 381.10 365.83

Earnings Per Share (EPS) 6.53 (6.74)

 OPERATIONS, INDUSTRY SCENARIO AND ECONOMY:

Appointment, Retirement and Re-appointment:

No. of Board Meetings:

The evaluation of performance of Board, Committee and Individual Directors were

 CORPORATE SOCIAL RESPONSIBILITY (CSR):

 SUBSIDIARIES & CONSOLIDATED FINANCIAL STATEMENT:

 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

 RELATED PARTY TRANSACTIONS:

 DISCLOSURE AS PER THE SEXUAL HARASSMENT OF WOMAN AT

 RISK MANAGEMENT POLICY:

 INTERNAL CONTROL SYSTEM:

 SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATORS OR

 DIRECTORS RESPONSIBILITY STATEMENT:

 ENERGY CONSERVATION, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE

The disclosure required in pursuant to the provisions of Section 134(3)(m) of the

For & on behalf of the Board of Directors,

Dated: February 19, 2023 at Metoda, Rajkot.

REPORT ON EXPENDITURE MADE ON CORPORATE SOCIAL RESPONSIBILITY (CSR)

2. Composition of CSR Committee:

Amount available for set-off from Amount required to be set-off for

8. (a) CSR amount spent or unspent for the financial year:

Amount Unspent (in Rs.)

Date of Name of the Date of

(d) Amount spent in Administrative Overheads: Nil

(e) Amount spent on Impact Assessment, if applicable: Nil

(g) Excess amount for set off, if any:

Sl. No. Particular Amount (in Rs.)

Amount available for set off in succeeding financial

Amount transferred to any Amount

(1) (2) (3) (4) (5) (6) (7) (8) (9)

Date: 19.02.2023 Sd/- Sd/-

I. Details of contracts / arrangement / transactions not at arm’s length basis:

a. Names(s) of the related party and nature of relationship NIL

II. Details of contracts / arrangement / transactions at arm’s length basis:

PART – A: Details of Transactions with Related Parties – Other Than Individuals

Names(s) of the related party and Huron Canada Inc.,

Approval of Board not

Names(s) of the related party and

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