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Company Information

Home » Market » Company Information

Aurum Proptech Ltd.

May 19
90.65 -0.55 ( -0.60 %)
 
VOLUME : 3245
Prev. Close 91.20
Open Price 91.00
TODAY'S LOW / HIGH
87.05
 
 
 
92.00
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
77.12
 
 
 
137.30
May 19
91.20 -1.70 ( -1.83 %)
 
VOLUME : 30855
Prev. Close 92.90
Open Price 90.00
TODAY'S LOW / HIGH
88.50
 
 
 
92.50
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
77.80
 
 
 
137.28
Company Information Menu

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Market Cap. ( ₹ ) 359.02 Cr. P/BV 1.37 Book Value ( ₹ ) 66.36
52 Week High/Low ( ₹ ) 137/78 FV/ML 5/1 P/E(X) 0.20
Bookclosure 14/04/2022 TTM EPS ( ₹ ) 4.73 Div Yield (%) 1,067.98
NOTES TO ACCOUNTS
You can view the entire text of Notes to accounts of the company for the latest year
Year End :2018-03 

1 Fair values of financial assets and financial liabilities

The Group's financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable, and accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments.

2 Fairvaluehierarchy

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

- Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2 - 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).

- Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level 3 fair value measurements.

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

3 Financial risk management objectives and policies

The Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Company's risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. We are exposed to market risk primarily due to fluctuations in interest rates as described more fully below. We do not hold or issue derivative financial instruments for trading or speculative purposes.

Interest rate risk :

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's investments.

Interest rate sensitivity :

Our exposure to market risk for changes in interest rates relates primarily to our cash and cash equivalents, other bank balances and investments. We do not use derivative financial instruments to hedge interest rate exposure. Our cash and cash equivalents, other bank balances and investments as of 31 March 2018, 31 March 2017 and 1 April 2016 were 33,894, 9,253 and 8,482 respectively. We invest primarily in highly liquid, money market funds and bank fixed deposits. Because of the short-term nature of the majority of the interest-bearing securities we hold, we believe that a 10% fluctuation in the interest rates applicable to our cash and cash equivalents and investments would not have a material effect on our financial condition or results of operations.

(B) Credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, time deposits, and accounts receivables. The Company maintains its cash and cash equivalents, time deposits, with banks having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis. Accounts receivables of the Company are typically unsecured. As there is no independent credit rating of the customer available with the Company, Management reviews the creditworthiness of customers based on their financial position, past experience and other factors. The Company perform ongoing credit evaluations of their customers' financial condition and monitor the creditworthiness of their customers to which they grant credit terms in the normal course of business.

(C) Liquidity risk

The Company's current assets aggregate to 35,090 (31 March 2017 -10,945,1 April 2016 -10,239) including current investments, cash and cash equivalents and bank balances against aggregate current liability 994 (31 March 2017 - 1,043, 1 April 2016 - 633) non current liabilities amounting to 439 (31 March 2017 - 515, 1 April 2016 - 438) on the reporting date. While the Company's total equity stands at 51,990 (31 March 2017 - 27,323, 1 April 2016 - 25,999), it has no borrowings. Hence liquidity risk or risk that the Company may not be able to settle or meet its obligations as they become due does not exist.

4 Capital management

For the purpose of the Company's capital management, capital includes issued equity capital, convertible preference shares, share premium and all other equity reserves attributable to the equity holders. The primary objective of the Company's capital management is to maximize the shareholder value and to ensure the Company's ability to continue as a going concern.

The Board of Directors of the Company in the meeting held on 3 August 2017 approved the payment of Special Dividend @ ' 1/- per share (face value ' 5/- per share), to eligible shareholders. Accordingly the Company has appropriated 235 on account of Special Dividend and 48 being tax thereon, during the financial year. As on 31 March 2018, 3 is still to be paid. The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. Total debt comprises of non-current borrowings. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2018, 31 March 2017. In case of capital raised during the year also (Refer note no 20 (b)).

5 Demerger from Mastek Limited and slump sale to Majesco Software and Solutions India Private Limited

(a) Pursuant to a Scheme of Arrangement (the "scheme") under section 391 to 394 read with Section 100 to 103 and other applicable provision of the Companies Act, 1956 and other applicable provision of the Companies Act, 2013, the Board of Directors of Mastek Limited ("Mastek"), at its meeting held on 15 September 2014, had approved the demerger of the Insurance Products and Services business of Mastek, into the Company (formerly known as Minefields Computers Limited), followed by transfer by the Company of the offshore insurance operations business in India to Majesco Software and Solutions India Private Limited ("MSSIPL") a wholly owned subsidiary of Majesco Software and Solutions Inc., USA ("MSSUS") a step down subsidiary of the Company, retaining the domestic operations with the Company.

The appointed date of the scheme was 1 April 2014 and the appointed date for transfer of the offshore insurance operation business transfer was 1 November 2014. Mastek obtained necessary approvals for the scheme under clause 24(f) of the Listing Agreement with the BSE and NSE from SEBI on 9 December 2014. The scheme has also been approved by the Hon'ble High Court of Bombay and Hon'ble High Court of Gujarat and on filing with the Registrar of Companies ("ROC") the said scheme became effective from 1 June 2015. As specified in the scheme, Mastek shareholders have been issued one equity share in the Company for every share held in Mastek, while retaining their existing Mastek share. Existing 50,000 equity shares of ' 10/- each of the Company (Formerly known as Minefields Computers Limited) were cancelled on 1 June 2015.

The shares of the Company were listed on 19 August 2015 on the BSE and NSE, where Mastek is listed. The demerger has resulted in the transfer of the assets, liabilities, other reserves and surplus, employee stock options outstanding account and hedging reserve account related to the demerged entity from Mastek and accordingly have been given effect to in the financial statements of the Company prepared under previous IGAAP during the year 2015 -16.

The difference in book value of the above assets net of liabilities and specific reserves and net of transfer to MSSIPL as on 31 March 2015 aggregating to 20,344 have been credited to Retained earnings for the year ended 31 March 2016.

(b) Consequent to transfer of the offshore insurance business in India to MSSIPL, the business with reference to which the Capital Reserve was created stand transferred and is no longer with the company. Hence the capital reserve of 106 has been transferred to General Reserve during the year ended 31 March 2016.

(c) The deferred tax assets arising from difference between the book value of depreciable fixed assets and of their written down value for tax purpose and timing difference of certain expenses relating to the period prior to 1 April 2015 aggregating to 284 has been credited to General Reserve during the year ended 31 March 2016.

(d) Consequent to adoption of Ind AS with effect from 1 April 2016 these have been converted accordingly and transition effect has been given in note no 5.

(C) Corporate Social Responsibility Expenditure

As per section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013

a) The gross amount required to be spent by the Company during the year is 5 (2017-NA).

b) The details of the amount spent during the year on CSR activities are as follows :