BULKTAINER SHIPPING LIMITED

CIN: U60210MH1995PLC094265
Balance Sheet as at 31st March 2021

Particulars Note No. 31st March 2021 31st March 2020

I. EQUITY AND LIABILITIES

1 Shareholders’ funds
(a) Share capital 3 4,88,00,000 4,88,00,000
(b) Reserves and surplus 4 33,92,64,442 37,25,94,973

2 Share application money pending allotment - -

3 Non-current liabilities
(a) Long-term borrowings 5 46,76,69,047 46,42,48,504
(b) Other non current liabilties - -
(c) Deferred tax Liabilities (net) - -
(d) Long-term Provisions - -

4 Current liabilities
(a) Short-term borrowings 6 21,55,03,345 7,43,41,620
(b) Trade Payables 7 11,50,30,903 8,21,97,873
(c) Other current liabilities 8 31,41,395 12,63,11,347
(d) Short-term provisions 9 75,68,497 3,50,88,768

TOTAL 1,19,69,77,629 1,20,35,83,085

II. ASSETS

Non-current assets
1 (a) Fixed assets
(i) Tangible assets 10 62,95,79,838 75,15,73,031
(ii) Intangible assets - - -
(iii) Capital work-in-progress 10 1,05,34,966 1,55,34,966
(iv) Intangible assets under development - - -
(b) Non-current investments 11 13,16,217 11,68,855
(c) Deferred tax assets (net) Notes 81,77,305 2,27,97,552
(d) Long-term loans and advances 12 25,37,959 21,16,196

2 Current assets
(a) Inventories 13 1,89,93,571 1,37,54,369
(b) Trade receivables 14 22,62,48,436 8,93,52,520
(c) Cash and cash equivalents 15 22,17,94,806 20,31,19,066
(d) Short-term loans and advances 16 7,77,94,530 10,41,66,530

TOTAL 1,19,69,77,629 1,20,35,83,085

Notes are integral part of the balance sheet & profit & loss account
As per our report of evan date attached For and on behalf of Board of Directors

For MARK & CO

Chartered Accountants
FRN: 142902W Animesh Sharma
Director
(DIN: 01040959)
Rahul Lodha
Partner
MRN: 148787 Ramola Sharma
PLACE : MUMBAI Director
Date : (DIN: 01375469)
UDIN:
 BULKTAINER SHIPPING LIMITED
CIN: U60210MH1995PLC094265
Profit and loss statement for the year ended 31st March 2021

Refer Note
Particulars 31st March 2021 31st March 2020
No.

I. Revenue from operations 17 86,90,37,219 1,34,82,17,005

II. Other income 18 1,99,54,537 1,64,11,802

III. Total Revenue (I + II) 88,89,91,756 1,36,46,28,807

IV. Expenses:
Operating Expenses 19 65,26,10,601 95,05,13,566
Change In Inventories 20 (52,39,202) (1,15,01,365)
Employee benefits expense 21 2,55,61,955 3,13,44,032
Finance costs 22 6,11,47,336 7,29,17,715
Depreciation and amortization expense 10 13,56,12,334 18,48,59,858
Other expenses 23 6,84,78,369 8,38,08,759

Total expenses 93,81,71,393 1,31,19,42,565

V. Profit before Tax (III-IV) -4,91,79,637 5,26,86,242

VI Tax expense:
(1) Current tax - (87,94,388)
(2) Deferred tax 13,55,501 4,22,083
(3)Excess/(Short) Provisions of Earlier Years 3,04,69,353 -
(4) MAT Credit Entitlement - 87,94,388
3,18,24,854 4,22,083

VII Profit (Loss) for the period (V + VI) -1,73,54,783 5,31,08,325

VIII Earnings per equity share:
(1) Basic -3.56 10.88
(2) Diluted -3.56 10.88

Notes are integral part of the balance sheet & profit & loss account
As per our report attached For and on behalf of Board of Directors

For MARK & CO

Chartered Accountants Animesh Sharma
FRN: 142902W Director
(DIN: 01040959)

Rahul Lodha
Partner Ramola Sharma
MRN: 148787 Director
PLACE : MUMBAI (DIN: 01375469)
Date :
UDIN:
 BULKTAINER SHIPPING LIMITED
CIN: U60210MH1995PLC094265
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

Note : 3 Share capital

A 31st March 2021 31st March 2020

PARTICULARS
Numbers Rs. Numbers Rs.

Authorised
Equity Shares of Rs.10 each 50,00,000 5,00,00,000 50,00,000 5,00,00,000
50,00,000 5,00,00,000 50,00,000 5,00,00,000
Issued, subscribed & fully paid up
Equity shares of Rs.10 each 48,80,000 4,88,00,000 48,80,000 4,88,00,000
Total 48,80,000 4,88,00,000 48,80,000 4,88,00,000

The Company has one class of equity shares having face value of Rs.10/- each. Each holder of equity shares is
entitled to one vote per share.

B Reconciliation of the shares outstanding at the beginning and at the end of the reporting period

EQUITY SHARES
PARTICULARS 31st March 2021 31st March 2020
Number Rs. Number Rs.
At the beginning of the year 48,80,000 4,88,00,000 48,80,000 4,88,00,000
Shares issued during the year ( Bonus Issue ) - - 0 0
At the end of the year 48,80,000 4,88,00,000 48,80,000 4,88,00,000

Shares held by holding company / ultimate holding company and/or their subsidiaries / associates
C

As at 31st March 2021 As at 31st March 2020

PARTICULARS
Number Rs. Number Rs.
NIL 0 0 0 0

D Detail of shareholders holding more than 5% of shares in the company

Equity Shares
31st March 2021 31st March 2020
NAME OF SHAREHOLDER
No. Of Shares % Of No. Of % Of
Held Holding Shares Held Holding
Animesh Sanjay Sharma 16,08,061 32.95% 16,08,061 32.95%
Ramola Sharma 23,64,307 48.45% 23,64,307 48.45%
Arjun Sharma 3,88,267 7.96% 3,88,267 7.96%
Anushree Sharma 5,16,432 10.58% 5,16,432 10.58%
Sanjay Sharma 1,333 0.03% 1,333 0.03%
 BULKTAINER SHIPPING LIMITED
CIN:60210MH1995PLC094265
BULKTAINER SHIPPING LIMITED
CIN: U60210MH1995PLC094265
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
Note - 4 : Reserve and Surplus

As at 31 March 2021 As at 31 March 2020

PARTICULARS
Rs. Rs.

A. Revaluation Reserve 18,29,02,016 18,29,02,016

18,29,02,016 18,29,02,016
B. Surplus
Opening balance 18,96,92,957 15,25,60,380
(+) Net Profit/(Net Loss) For the current year -1,73,54,783 5,31,08,325
(-) Bonus Shares Issued Amount Transferred to Capital
Account - -
(-) Deferred tax asset reversed -1,59,75,748 -1,59,75,748
Closing Balance 15,63,62,426 18,96,92,957

Total 33,92,64,442 37,25,94,973

Note - 5 : Long-term Borrowings

As at 31 March 2021 As at 31 March 2020
PARTICULARS
Rs. Rs.
(a) Term loans
From banks
Detusche Bank 3,07,48,933 2,95,45,958
KBL- Term Loan 1,70,67,577 1,63,24,772
TOTAL-A 4,78,16,510 4,58,70,730
(Secured Against Property)

(b) Vehicle Loan

Secured Loan ( As per Groupping) 40,01,06,704 39,86,51,057
TOTAL-B 40,01,06,704 39,86,51,057
(Secured Against Commercial Vehicles)

(C) Loans and advances from related parties

Energan Transgas Pvt Ltd 1,94,12,581 1,95,56,717
Loan from Directors 3,33,252 1,70,000

TOTAL-C 1,97,45,833 1,97,26,717

Total 46,76,69,047 46,42,48,504

 BULKTAINER SHIPPING LIMITED
CIN:60210MH1995PLC094265
Note - 6 : Short-Term Bororwings

As at 31 March 2021 As at 31 March 2020

Short Term Borrowings
Rs. Rs.

Secured
(a ) Cash Credit
Karnataka Bank Ltd 9,55,45,597 7,43,41,620
(Secured against Prime : hypothecation of book debts, Stock
and Current assets of the company, Collateral : EM of
Commercial Property at Vadodara and Leasehold industrial
Property at Taloja and FDR of Rs. 2 Crore and Personal
Guarantee of Mr. Sanjay Sharma, Mrs. Ramola Sharma, Mr.
Animesh Sharma, Mr. Arjun Sharma and Ms. Anushree
Sharma)

(b) OD against FD 11,99,57,748 -

(Secured against Fixed Deposit)

Total 21,55,03,345 7,43,41,620

Note - 7 : Trade Payables

As at 31 March 2021 As at 31 March 2020
Trade Payables
Rs. Rs.

I)Total outstanding dues of creditors 11,50,30,903 8,21,97,873

Total 11,50,30,903 8,21,97,873

Note - 8 : Other Current Liabilites

As at 31 March 2021 As at 31 March 2020
Other Current Liabilities
Rs. Rs.
(a) TDS Payable 29,13,865 19,30,281
(b) Profession Tax Payable 16,500 16,525
(c) PF Payable 9,383 776
(d) ESIC Payable 1,647 2,470
(e) Other Current Liabilities 2,00,000 -
(f) Current maturity of long term debts - 12,43,61,295
Total 31,41,395 12,63,11,347

Note - 9 : Short-Term Provisions

As at 31 March 2021 As at 31 March 2020
Short Term Provisions
Rs. Rs.
(a) Provision for employee benefits
Salary & Reimbursements 54,68,497 65,33,745

(b) Others
Provisions for tax A.Y. 2019-20 - 1,97,60,636
Provisions for tax A.Y. 2020-21 - 87,94,388
 BULKTAINER SHIPPING LIMITED
CIN:60210MH1995PLC094265

(c) CSR Payable

CSR Provision 2019-20 5,00,000 -
CSR Provision 2020-21 16,00,000 -

Total 75,68,497 3,50,88,768

 BULKTAINER SHIPPING LIMITED
CIN:60210MH1995PLC094265

Note - 11 : Non-current Investments

As at 31 March 2021 As at 31 March 2020

Rs. Rs.

A. Other Investments
(a) Investment in Shares of Raheja Arcade Premises Co-op
Society Ltd 1,200 1,200
(b) Other non-current investments (specify nature)
i) Gold 13,15,017 11,67,655

Total 13,16,217 11,68,855

Note - 12 : Long-Term Loans & Advances

As at 31 March 2021 As at 31 March 2020

Long Term Loans and Advances
Rs. Rs.
a. Capital Advances
Deposit with Customer 17,66,230 14,90,167
Deposit with Others 7,71,729 6,26,029

Total 25,37,959 21,16,196

Note - 13 : Inventories

As at 31 March 2021 As at 31 March 2020

Rs. Rs.

Closing Stock - At Pump- Diesel 67,92,238 2,09,909

Closing Stock - Spare Parts 1,22,01,333 1,35,44,460

Total 1,89,93,571 1,37,54,369

Note - 14 : Trade Receivables

As at 31 March 2021 As at 31 March 2020

Rs. Rs.
Trade receivables outstanding for a period less than six months
from the date they are due for payment
Unsecured, considered good 22,62,48,436 8,93,52,520
(As per List)

Total 22,62,48,436 8,93,52,520

 BULKTAINER SHIPPING LIMITED
CIN:60210MH1995PLC094265
Note - 15 : Cash & Cash Equivalents

As at 31 March 2021 As at 31 March 2020

Cash and cash equivalents
Rs. Rs.
a. Balances with banks 47,03,953 25,93,819
b. Cash on hand 55,38,329 78,91,110

Fixed Deposit with bank 21,15,52,524 19,26,34,137

Total 22,17,94,806 20,31,19,066

Note - 16 : Short-term Loans & Advances

As at 31 March 2021 As at 31 March 2020

Short-term loans and advances
Rs. Rs.
a. Others (specify nature)
Unsecured, considered good
Advance to Revenue Authorities 7,44,72,371 9,49,04,825
Advances & IOU 30,75,477 29,16,347
Salary Advances to Staff 2,43,733 2,06,485
Advances to Suppliers & Others - 61,38,872
Prepaid Expense 2,950 -
Total 7,77,94,530 10,41,66,530
 BULKTAINER SHIPPING LIMITED
CIN: U60210MH1995PLC094265
Note 10
Summary of Depreciaiton on Fixed Assets as per Compaines Act,2013 for the year ended 31st March, 2021

Original Cost Depreciation charged WDV as at 31/03/2020 Additions Revaluation Reserve Sales for the year / Depreciation charge for Adjustment with WDV As at 31/03/2021
Fixed Assets As at 31/03/2020 upto 31/03/2020 Adjustment the year retained earnings

Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.

A Tangible Assets

1 Land 21,10,37,331 - 21,10,37,331 - - - - - 21,10,37,331

2 Buildings 4,12,79,823 94,40,174 3,18,39,649 - - - 16,36,940 - 3,02,02,709
5 Plant & Machinery 86,16,287 54,14,228 32,02,059 5,84,835 - - 6,14,261 - 31,72,633
3 Computer 32,73,570 28,04,924 4,68,646 4,82,872 - - 2,94,008 - 6,57,510
4 Furniture and Fixtures 29,59,765 25,08,030 4,51,735 2,30,900 - - 1,15,924 - 5,66,711
6 Motor Car 4,00,04,817 3,04,11,079 95,93,739 12,47,302 - - 30,54,460 - 77,86,581
7 Trucks 1,36,99,80,737 87,50,00,864 49,49,79,873 1,70,79,140 - 60,05,908 12,98,96,741 - 37,61,56,364
Total 1,67,71,52,330 92,55,79,299 75,15,73,031 1,96,25,049 - 60,05,908 13,56,12,334 - 62,95,79,838

Previous Year 1,66,38,84,555 74,07,19,441 92,31,65,114 1,99,29,617 - 66,61,842 18,48,59,858 - 75,15,73,031

 BULKTAINER SHIPPING LIMITED

BULKTAINER SHIPPING LIMITED

CIN: U60210MH1995PLC094265
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

Note - 17 : Revenue from Operations

As at 31 March 2021 As at 31 March 2020

Particulars

Rs. Rs.

Sale of Services 86,90,37,219 1,34,82,17,005

Total 86,90,37,219 1,34,82,17,005

Note - 18 : Other Income

As at 31 March 2021 As at 31 March 2020
Other Income
Rs. Rs.
Interest on Deposit/other 1,37,51,277 1,17,03,245
Interest on Income Tax Refund 20,16,740 5,14,902
Profit/(Loss) on sale of Vehicle (10,61,842)
Other Income 41,86,520 52,55,497
Total 1,99,54,537 1,64,11,802

Note - 19 : Operating Expenses

As at 31 March 2021 As at 31 March 2020

Operating Expenses

Rs. Rs.
Diesel & oil Expenses 33,15,04,851 55,73,38,081
Drivers Allowances 3,16,04,681 2,91,52,612
Trip Expenses 7,00,98,123 12,20,41,638
Vehicle Hiring Charges 2,90,83,446 82,34,406
Tyre Expenses 5,28,61,900 6,03,80,244
Vehicle Insurance Charges 2,09,67,064 2,00,21,010
Vehicle Expenses 2,98,24,946 3,42,71,903
Vehicle Duties, Taxes & fees 3,26,41,360 4,59,35,293
Vehicle Repair & Maintenance Charges 4,25,88,608 5,51,62,451
Vehicle Spare Parts Purchase 86,54,731 1,23,60,508
Other Operating Expense 27,80,892 56,15,420

Total 65,26,10,601 95,05,13,566

 BULKTAINER SHIPPING LIMITED

Note - 20 : Change in Inventories

As at 31 March 2021 As at 31 March 2020
Change in Inventories
Rs. Rs.
Opening Stock
-Diesel/Oil 2,09,909 22,53,003
-Spare Parts 1,35,44,460 -
1,37,54,369 22,53,003
Closing Stock
-Diesel/Oil 67,92,238 2,09,909
-Spare Parts 1,22,01,333 1,35,44,460
1,89,93,571 1,37,54,369

Total (52,39,202) (1,15,01,365)

Note - 21 : Employee Benefits Expense

As at 31 March 2021 As at 31 March 2020

Employee Benefits Expense

Rs. Rs.
(a) Salaries and incentives 1,90,07,527 2,51,92,343
(b) Bonus 13,000 500
(c) Reimbursement of Medical Expenses 8,17,038 4,45,078
(d) Leave Travel Benefits 39,508 69,292
(e) Contribution to Provident Fund 40,781 2,29,194
(f) Contribution to Any Other Fund 2,30,233 39,558
(g) Staff welfare expenses 54,13,869 53,68,067

Total 2,55,61,955 3,13,44,032

NOTE 22 : Finance Cost

As at 31 March 2021 As at 31 March 2020
Finance costs

Rs. Rs.
Interest - Vehicle Loan 4,23,96,253 5,42,13,144
Interest - Term Loan - 7,67,494
Interest - Cash Credit 69,84,818 95,23,406
Interest on TOP UP 17,91,571 17,99,525
Loan Processing Charges 11,07,880 8,50,257
Penal Charges 2,49,035 1,98,046
Foreclosure Charges 32,70,911
Prepayment Charges 90,443
Finance Charges 75,469
Interest - Others 34,51,957 41,45,372
Bank Commission & Charges 17,28,999 14,20,472
Total 6,11,47,336 7,29,17,715
 BULKTAINER SHIPPING LIMITED

NOTE 23 : Other Expenses

As at 31 March 2021 As at 31 March 2020
SR No Other expenses

Rs. Rs.
1 Advertising 19,066 30,057
2 Brokerage & Commission 92,910 4,38,490
3 Business Promotion Expenses 12,78,370 21,94,355
4 Conveyance 9,25,780 2,92,763
5 CSR Expense 26,00,000 5,00,000
6 Donation 1,11,401 10,38,732
7 Documentation charges 5,36,646 6,73,499
8 Directors Remuneration 2,91,75,836 3,36,80,264
9 Duties & Taxes 41,566 90,139
10 Electricity charges 6,07,112 8,19,368
11 Internet Expenses 11,68,544 27,30,063
12 Misc Exps 62,05,262 23,11,833
13 Office Expenses 22,35,762 21,05,051
14 Rent Expenses 30,99,493 32,00,233
15 Postage & Courier 1,14,783 1,08,119
16 Printing & Stationery 3,73,911 4,70,958
17 Repairs & Maintenance 51,97,792 97,48,203
18 Telephone Expenses 2,61,612 3,65,284
19 Travelling Expenses 26,03,611 57,42,820
20 Legal Expenses - -
21 Professional Consultancy Fees 32,01,597 51,47,356
22 Interest on TDS - -
23 Motor Car Expenses 4,42,673 4,04,721
24 Security Services 1,68,000 1,68,000
25 Vehicle Expenses 78,16,643 1,10,48,452

Total 6,82,78,369 8,33,08,759

As at 31 March 2021 As at 31 March 2020

SR No Audit fees

Rs. Rs.
Payments to the auditor as
1 a. Auditor, 2,00,000 5,00,000