F.Y. 2019-20 - Independent Auditor's Report

PRAVEG COMMUNICATIONS (INDIA) LIMITED
(formerly Known as SWORD AND SHIELD PHARMA LIMITED)

CIN:L24231GJ1995PLC024809
Standalone Financial Statements

AND
Audit Report
F.Y. 2019-20
REGISTERED OFFICE
102, Shanti Arcade, Nr. Akash-1 11,

132 Ft Ring Road,
Naranpura,
AHMEDABAD - 380 013
Email: cs@praveg.com
AUDITORS
B. K. PATEL & CO
CHARTERED ACCOUNTANTS
401-404, Vraj Valencia,

B/h Mahindra Show Room,
Nr. Sola Overbridge, S.G.Highway, Sola,
AHMEDABAD-380 060
PH: 079 - 2970 0974
Email : bkpatelandco@gmail.corn
B. K. PATEL & CO
Chartered Accountants
401 -404, VRAJ Valencia, B/h. Mahindra Show Room, Nr. Sola Overbridge,
S.G. Highway, Sola, AHMEDABAD-380 060, Gujarat.
Phone: 079-2970 0974/75 •Email: bkpatelandco@gmail.com
Independent Auditor's Report

To,
The Members,
Praveg Communications (India) Limited
(Formerly known as Sword and Shield Pharma Limited in which Praveg Communications Limited has
been amalgamated)
REPORT ON T HE AUDIT OF T HE STANDALONE FINANCIAL STATEMENTS
OPINION
We have audited the accompanying standalone financial statements of Praveg Communications (India)
Limited (formerly known as Sword and Shield Pharma Limited in which Praveg Communications Limited
has been amalgamated) ("the Company"), which comprise the Balance Sheet as at March 31, 2020, the
Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity
and the Statement of Cash Flows for the year ended on that date, and a summary of the significant
accounting policies and other explanatory information (hereina~er collec.:tively rererred to as "the
standalone financia l statements").
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaidstandalone financial statements give the information required by the Com panies Ac.:t,
2013 ("the Act") in the manner so required and give a true and fair view in conformity with the India n
Accounting Standards prescribed under section 133 of the Act read with the Companies (In d ian
Accounting Standards) Rules, 2015 and other accounting principles generally accepted in India, of the
state of affairs of the Company as at March 31, 2020, the profit and tota l comprehensive income, changes
in equity and its cash flows for the year ended on that date.
BASIS FOR OPINION
We conducted our audit of the standalone financia l statements in accordance with lhe Standards on
Auditing specified under section 143(10) of the Companies Act, 2013 (SAs). Our responsibilities under
those Standards are further described in the Auditor's Responsibi lities for the Audit of the Standalone
Financial Statements section of our report.
We are independent of the Company in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants of India (!CAI) together with the independence requirements that are relevant to
our audit of the standalone financial statements under the provisions of the Act and the Rules made
thereunder, and we have fu lfilled our other ethical responsibilities in accordance with these requirements
and the !CAi's Code of Ethics. We believe that the audit evidence we have obtained is s ufficient and
appropriate to provide a basis for our audit opinion on the standalone financi al statements.
EMPHASIS OF MATTER
1. We draw attention to Note No.41 to the accompanying standalone financial statements which
explains the uncertainties and the management's assessment of the financial impact due to the
lockdown and other restrictions related to the COVI0-19 pandemic situation, for which a definitive
1
assessment of the impact in the subsequent period is highly dependent upon circumstances as they
evolve. Our opinion is not modified in respect of the matter.
2. We draw attention to Note No.40to the accompanying standalone financial statements regarding
accounting of the scheme of amalgamation of Praveg Communications Limited in Praveg
Communications (India) Limited from the appointed date being 1st April, 2016 as approved by the
National Company Law Tribunal (NCLT), Ahmedabad Bench, though the Scheme has become
operationally effective fromlstMarch, 2020,however comparatives for the previous year have been
disclosed in the financial statements of both companies.
KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgment, were of most significance in
our audit of the standalone financial statements of the current period. These matters were
addressed in the context of our audit of the standalone financial statements as a whole, and in
forming our opinion thereon, and we do not provide a separate opinion o n these matters. We have
determined the matters described below to be the key audit matters to be communicated in our
report For each matter below, our description of how our audit addressed the matter is provided in
that context described hereunder.
We have fulfil led the responsibilities descri bed in the Auditor's res ponsibilities for the audit of the
standalone financial statements section of our report, including in relation to these matters.
Accordingly, our audit included the performance of procedures designed to respond to our
assessment of the risks of material misstatement of the standalone financial statements. The results
of our audit procedures, including the procedures performed to address the matters below, provide
the basis for our audit opinion on the accompanying standalone fi nancial statements;
1) Accuracy of recognition, m easurement, presentation a nd disclos ures of revenues a nd othe r
related ba la nces in vie w oflnd AS 115 "Revenue from Contra cts w ith Customers":-
Matte r:-
The application of the Ind ASllS for revenue recognition involves certain key judgements such as
identification of distinct performance obligations, determination of transaction price of the
identified performance obligations, the appropriateness of the basis used to measure revenue
recognized over a period.
How our audit a ddre ssed this matter : -
We assess the company's process to identify distinct performance obligations. transaction price
and appropriateness of the basis used to measure revenue recognized. Our audit approach
consisted testing of the design and operating effectiveness of the internal controls and substantive
testing as follows:
We evaluated the design of internal controls relating to revenue recognition. In the process, we
selected samples of continuing and new contracts, and tested the operating effectiveness of the
internal control, relating to ident ification of the distinct performance obligations and
determination of transaction price& basis of measurement We carried out a combination of
procedures involving enquiry and observation, re-performance and inspection of evidence in
respect of operation of these controls.
Selected a sample of continuing and new contracts and performed the following procedures:
Read, analysed and identified the distinct performance obligations in these contracts.
Compared these performance obligations with that identified and recorded by the Company.
Sample of revenues disaggregated by type and service offerings was tested with
theperformance obligations specified in the underlying contracts.
2
Evaluated the contracts on the basis of whether the contract is Fixed Price or Variable price
contract, terms of obligation fulfilment, duration of contract and accrual points of revenue
from such contracts.
2) Effect of scheme of amalgamation as approved by Hon'ble NCLT

Matter:-
Hon'ble NCLT have approved the scheme of amalgamation of Praveg Communications Limited
into Praveg Communications (India) Limited by virtue of its order dtd 23-01-2020 which was
filed with the MCA and became effective on 24-01-2020, which is made operationally effective
from 01-03-2020, from appointed date 01-04-2016. The Company accounted for the
amalgamation in the nature of merger under pooling of interest method as directed by the scheme
approved by the Hon'bleNCLT.
We have determined this to be a key audit matter in view of the nature of transaction, complexity
involved in selection of accounting treatment for merger, significant management judgment
involved with respect to alignment of accounting policies, estimates and accounting post-merger
and disclosure of comparative information.
How our audit addressed this matter:-
We evaluated the appropriateness of treatment as per 'Pooling of interest' method of accounting

adopted by the management to account for the merger as directed by the approved scheme of
Hon'ble NCL T.
On verification of the Order of Hon'ble NCLT, Scheme approved by Hon'ble NCLT, standards of
accounting for treatment of business combinations i.e. Ind AS 103 and requirements of other
accounting standards with respect to business combinations read with Companies (Indian
Accounting Standards) Rules, 2015, the conclusion of management that the accounting treatment
of the amalgamation shall be given as per the specific directions under the scheme approved by
the Hon'ble NCLT and accounting treatment of the amalgamation shall be as per pooling of
interest method as directed by the scheme approved by Hon'ble NCLT found appropriate.
We have corroborated the adherence to the directions as mentioned in the Scheme approved by
Hon'ble NCLT in the management's alignment of accounting policies and estimates by comparing
the significant accounting policies and estimates.
INFORMATION OTHER THAN THE STANDALONE FINANCIAL STATEMENTS AND

AUDITOR'S REPORT THEREON
The Company's Board of Directors is responsible for the other information. The other information
comprises the information included in the Annual Report. but does not include the standalone
financial statements and our auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we will not
express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information identified above when it becomes available and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our
knowledgeobtained in the audit, or otherwise appears to be materially misstated.
The other information is expected to be made available to us after the date of this auditor's report.
When we read the other information, if we conclude that there is a material misstatement therein,
MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE FINANCIAL STATEMENTS
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act
with respect to the preparation of these standalone financial statements that give a true and fair
view of the financial position, financial performance, total comprehensive income, changes in equity
and cash flows of the Company in accordance with the Ind AS and other accounting principles
generally accepted in India, This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and prudent;
and design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the standalone financial statements that give a true
and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, management is responsible for assessing the
Company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless management either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors a re responsible for overseeing the Company's financial reporting process.
AUDITOR'S RESPONSTBILITIES FOR THE AUDIT OF THE STANDALONE FINANCIAL

STATEMENTS
Our objectives are to obtain reasonable assurance about whether the standalone financial
statements as a whole are free from material misstatement, whether due to fraud or error, and to
issue an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect
a material misstatement when it exists. Misstatements can arise from fraud or 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 standalone financial
statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also :
•!• Identify and assess the risks of material misstatement of the standalone 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 controls.
•!• Obtain an understanding of internal financial controls relevant to the audit in order to design
audit procedures that are appropriate in the circumstances. Under section 143 (3) (i) of the Act.
we are also responsible for expressing our opinion on whether the Company has adequate
internal financial controls 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
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 However, future events or conditions
may cause the Company to cease to continue as a going concern.
•!• Evaluate the overall presentation, structure and content of the standalone financial statements,
including the disclosures, and whether the standalone financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.
•:• Materiality is the magnitude of misstatements in the standalone financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the financial statements may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating
the results of our work; and (ii) to evaluate the effect of any identified misstatements in the
financial statements.
We communicated with those charged with governance 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 identify during our audit
We also provided 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 standalone 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.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by Section 143(3) of the Act, based on our audit we report that;
a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purposes of our audit
b) Jn our opinion, proper books of account as required by law have been kept by the Company so
far as it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income,
Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in
agreement with the relevant books of account.
d) In our opinion, the aforesaid standalone financial statements comply with the Ind AS specified
under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015,
as amended;
e) On the basis of the written representations received from the directors as on March 31, 2020
taken on record by the Board of Directors, none of the directors is disqualified as on March 31,
2020 from being appointed as a director in terms of Section 164 (2) of the Act
f) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate Report in
"Annexure- A". Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company's internal financial controls over financial reporting.
5
g) With respect to the other matters to be included in the Auditor's Report in accordance with the
requirements of section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to
us, the remuneration paid by the Company to its directors during the year is in accordance
with the provisions of section 197 of Lhe Act.
h) With respect to the other matters to be included in the Auditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to
the best of our information and according to the explanations given to us:
i) As informed to us. the Company has disclosed the impact of pending litigations on its
financial position in its standalone financial statements;
ii) The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses;
iii) There has been no amount required to be transferred to the Investor Education and
Protection Fund by the Company.
2. As required by the Companies (Auditor's Report) Order, 2016 ("the Order") issued by the Central
Government in terms of Section 143(11) of the Act, we give in "Annexure-8" a s tatement on the
matters specified in paragraphs 3 and 4 of the Order.
For, B. K. PATEL & CO

Firm Regn No. 11264 7W
..
er
Ahmedabad Membership No.039 19
3-7-2020 UDIN:20039919AAAABA9 77
6
ANNEXURE-"A" TO THE INDEPENDENT AUDITOR'S REPORT
(Referred to in paragraph l(f) under 'Report on Other Legal and Regulatory Requirements' section
of our report to the Members of Praveg Communications (India) Limited (formerly known as Sword
and Shield Pharma Limited) of even date)
REPORT ON THE INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING UNDER CLAUSE
(I) OF SUB-SECTION 3 OF SECTION 143 OF THE COMPANIES ACT, 2013 ("THE ACT")
We have audited the internal financial controls over financial reporting of Praveg Communications
(India) Limited (formerly known as Sword and Shield Pharma Limited) ("the Company") as of
March 31, 2020 in conjunction with our audit of the standalone financial statements of the
Company for the year ended on that date.
MANAGEMENT'S RESPONSIBILITY FOR lNTERNAL FINANCIAL CONTROLS

The Board of Directors of the Company is responsible for establishing and maintaining internal
financial controls based on the internal control over financial reporting criteria established by the
Company considering the essential components of internal control stated in the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered
Accountants oflndia. These responsibilities include the design, implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to respective company's policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and
completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Companies Act, 2013.
AUDITOR'S RESPONSIBILITY
Our responsibility is to express an opinion on the internal financial controls over financial reporting
of the Company based on our audit We conducted our audit in accordance with the Guidance Note
on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by
the Institute of Chartered Accountants of India and the Standards on Auditing prescribed under
Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial
controls. Those Standards and the Guidance Note require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about whether adequate internal
financial controls over financial reporting was established and maintained and if such controls
operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the
internal financial controls system over financial reporting and their operating effectiveness. Our
audit of internal financial controls over financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating effectiveness of internal control based
on the assessed risk. The procedures selected depend on the auditor's judgement, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud
or error.
We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a
basis for our audit opinion on the internal financial controls system over financial reporting of
the Company.
MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

A company's internal financial control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A
company's internal financial control over financial reporting includes those policies and procedures
that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect
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ANNEXURE 'B' TO THE INDEPENDENT AUDITOR'S REPORT
(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements' section of our
report to the Members of Praveg Communications (India) Limited (Formerly Sword and Shield Pharma
Limited) of even date)
i. In respect of the Company's fixed assets:
a) The Company has maintained proper records showing fu ll particulars, including quantitative
details and situation of fixed assets.
b) The Company has a program of verification to cover all the items of fixed assets, in our
opinion, is reasonable having regard to the size of the Company and the nature of its assets.
Pursuant to the program, fixed assets were physicaJJy verified by the management during the
year. According to the information and explanations given to us, no material discrepancies
were noticed on such verification.
c) According to the information and explanations given to us, the records examined by us and
based on the examination of the conveyance deeds / registered sale deed provided to us, we
report that, the title deeds, comprising a ll the immovable properties of land and buildings
which are freehold, are in the process to be transfer red to be held in the name of the Company
as at the balance sheet date. Company has already made application to superintendent of
stamp for stamp duty adjudications, the said application is under process. In respect of
immovable properties of land and building that have been taken on lease and disclosed as
fixed assets in the sta ndalone financial statements, the lease agreeme nts are in the process to
be transferred into name of the Company.
ii. As explained by the management, it has conducted physical verification of inventory at reasonable
intervals during the year and no material discrepancies were noticed on such physical verification.
iii. According the information and explanations given to us, the Company has granted unsecured loans
to its wholly owned subsidiary Company covered in the register maintained under section 189 of the
Companies J\ct, 2013, in respect of which:
(a) The terms and conditions of the grant of such Joans are, in our opinion, prima facie, not
prejudicial to the Company's interest
(b) The schedule of repayment of principal and payment of interest has been stipulated and
repayments or receipts of principal amounts and interest have been regular as per stipulations
(c) There is no overdue amount in respect of this loan remaining outstanding as at the year-end.
iv. In our opinion and according to the information and explanations given to us, the Company has
complied witl1 the provisions of Sections 185 and 186 of the Act in respect of grant of loans, making
investments and providing guarantees and securities, as applicable.
v. The Company has not accepted deposits during the year and does not have any unclaimed deposits
as at Ma rch 31, 2020 a nd therefore, the provisions of the clause 3 (v) of the Order are not applicable to
the Company.
vi. The maintenance of cost records has not been specified by the Central Government under section
148(1) of the Companies Act 2013 for the business activities carried out by the Company.Accordingly
repo rting under clause 3(vi) of the order is not applicable to the Company.
vii. According to the information and explanations given to us, in respect of statutory dues ;
The Company has generally been regular in depositing undisputed statutory dues, including
a)
Provident Fund, Employees' State Insurance, Income Tax, Goods and Service Tax, Customs
Duty, Cess and other material statutory dues as applicable to it with the appropriate
authorities. The provisions relating to excise duty are not applicable to the Company.
b) There were no undisputed amounts payable in respect of Provident Fund, Employees' State
____ Insurance, Income Tax, Goods and Service Tax, Customs Duty, Cess and other material
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PRAVEG COMMUNICATI ONS (INDIA) LIM ITED
(FORMERLY KNOWN AS SWORD AND SHIELD PHARMA LIMITED)
CIN : L24231GJ1995PLC024809
Standa lone Balance Sheet as at 31- March-2020
Amount fn Rs. m Lokhs
As at As at
Particulars Note No.
31-Mar-2020 31-Mar-2019
1 Assets
1 Non-current Assets
(a) Property, Plant and Equipment 2 325.00 285.71
(b) Other Intangible Assets 2 0.30 0.36
(c) Financial Assets
(i) Non Current Investment 3 21.17 3.08
(d) Deferred Tax Assets (Net) 4 16.22 16.01
(e) Other Non Current Assets 5 6.95 8.24
Total Non-current Assets 369.64 313.40
2 Current Assets
(a) Inventories 6 244.28 195.76
(b) Financial Assets
(i) Trade Receivables 7 1,292.67 782.47
(ii) Cash and Cash Equivalents 8 252.22 95.55
(iii) Other Bank Balance 9 30.16 103.53
(iv) Current Loans 10 124.04 549.20
(v) Other Financial Assets 11 56.57 18.78
(c) Other Current Assets 12 109.18 129.60
Total Current Assets 2,109.12 1,874.89
Total Assets 2,478.76 2,188.29
II Equity and liabilities
1 Equity
(a) Equity Share Capital 13 1,848.41 1,848.41
(b) Other Equity 14 (359.58) (674.32)
Total Equity 1,488.83 1,174.09
2 Liabilities
2A Non-current Liabi lities
(a) Financial Liabilities
(i) Non-current Borrowings 15 91.83 95.29
(b) Long Term Provisions 16 22.00 0.00
113.83 95.29
(FORMERLY KNOWN AS SWORD AND SH IELD PHARMA LIM ITED)
CIN : L24231GJ1995PLC024809
Standalone Balance Sheet as at 31-March-2020
Amount In Rs. In Lokhs
As at As at
Particulars Note No.
31-Mar-2020 31-Mar-2019
2B Current Liabilities
(a) Financial Liabilities
(i) Current Borrowings 17 3.48 416.32
(ii) Trade Payables
Total outstanding dues of creditors other
18 512.94 303.88
than micro and small enterprises
(iii) Other Financial Liabilities 19 93.93 48.20
(b) Current tax liabilities (net) 20 44.21 5.87
(c) Short Term Provisions 21 44.12 45.75
(d) Other Current Liabilities 22 177.42 98.89
Total Current Liabilities 876.10 918.91
Total Liabilities 989.93 1,014.20
Total Equity and Liabilities 2 478.76 2 188.29
See accompanying notes to the financial statements

For and on behalf of Board of Directors
As per our report of even date PRAVEG COMMUN ICATIONS (INDIA) LIMITED
For, B. K. PATEL & CO. (Formerly Known as Sword and Shield Pharma Limited)
Chartered Accountants CIN : L24231GJ1995PLC024809
FRN :- 112647W
R-J,tA
Paraskumar Patel
Managing Director
DIN :- 00467608
~~ Chairman
DIN :- 02011649
~
Chief Financial Officer
~~er
Mukesh Chaudhary
Company Secretary
Place : Ahmedabad Place : Ahmedabad

Date : 03-07-2020 Date : 03-07-2020
CIN : l24231GJ1995PLC024809
Standa lone Statement of Profit and Loss for the year ended on 31-3-2020
Amount in Rs. In Lakhs
Particulars For the Year Ended on For the Year Ended on

Notes
31-03-2020 31-03-2019
Revenue from operations 23 5,951.79 5,911.48

Other Income 24 35.46 72.82
Total Income 5,987.25 5,984.30
Expenses
Event & Site Expenses 25 4,277.49 4,469.46
Employee Benefit Expenses 26 432.01 350.40
Finance Costs 27 54.01 38.43
Depreciation and Amortisation Expense 2 96.72 40.00
Other Expenses 28 606.05 685.48
Total Expenses 5,466.28 5,583.77
Profit before tax 520.97 400.53

Tax Expense:
Current Tax 156.72 115.74
Deferred Tax (0.20) (1.63)
156.52 114.11
Profit for the Year 364.45 286.42
Other Comprehensive Income 0.00 0.00

Total comprehensive income for the year 364.45 286.42
Earnings Per Equity Share (EPS)

Basic and Diluted EPS (Rs.) 32 1.97 1.55
See accompanying notes to the financial statements For and on behalf of Board of Dlrectors
As per our report of even date (Formerly Known as Sword and Shield Pharma Limited)
For, 8. K. PATEL & CO. CIN : L24231GJ1995PLC024809
-
t.~.,
(
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FRN :- 112647W
Paraskumar Patel
Managing Director Chairman
DIN :- 00467608 DIN :- 02011649
Membersh p No.039919
~ Q~
Mukesh Chaudhary
Chief Financial Officer Company Secre tary
Place: Ahmedabad Place: Ahmedabad

Date : 03-07-2020 Date : 03-07-2020
Standalone Statement of Change in Equity for the year ended on 31-03-2020
A. Equity Share Capital

Amount in Rs. m Lokl1s
Amount in Rs. in
Particulars No. of Shares
Lakh s
Balance as at 1-4-2018 5150600 515.06
Changes in equity share capital during the year 0 0.00
Balance as at 31-3-2019 5150600 515 06
Issue during the year in Pursuant to amalgamation 13333500 1,333.35
Balance as at 31-3-2020 18484100 1,848.41
B. Other equity
Amount in Rs. In Lokhs
Share Premium
Particulars Retained Earnings General Reserve Capital Reserve Total
Reserve
Balance as at 1-4-2018 (495.94) 0.00 0.00 0.00 (495.94)
Additions pursuant to the
scheme of arrangement 767.57 57.77 169.56 (1,315.57) (320.67)
during the year
Profit for the year 286.42 0.00 0.00 0.00 286.42
Dividend Paid (10.14) 0.00 0.00 0.00 (10.14)
Dividend Distribution Tax (2.06) 0.00 0.00 0.00 (2.06)
Utilised for buy back 0.00 0.00 (13 1.93) 0.00 (131.93)
Balance as at 31-3-2019 545.85 57.77 37.63 (1,315.57) (674.32)
Balance as ac 1-4-2019 545.85 57.77 37.63 (1,31!>.!> /) (674.32)

Profit for the year 364.45 0.00 0.00 0.00 364.45
Dividend Paid (35.56) 0.00 0.00 0.00 (35.56)
Dividend Distribution Tax (7.30) 0.00 0.00 0.00 (7.30)
Tax on Buy Back of Equity (6.85) 0.00 0.00 0.00 (6.85)
Balance as at 31-3-2020 860.59 57.77 37.63 (1,315.57) (359.58)

As per our report of even date For and on behalf of Board of Directors
For, B.K.PATEL & CO PRAVEG COMMUNICATIONS (INDIA) LIMITED
Chartered Accountants (Formerly Known as Sword and Shield Pharma Limited)
FRN :-112647W CIN: L24231GJ1995PLC024809
Paraskumar Patel
Managing Director
~,.: Chairman
DIN :- 00467608 DIN :- 02011649
CA Viral Doshi Mukesh Chaudhary

Chief Financial Officer Company Secretary
Place : Ahmedabad Place : Ahmedabad

Date : 03-07-2020 Date: 03-07-2020
Standa lone Statement of Cash Flow for th e y ear ended 31-3-2020
Amount m Rs. in Lakhs
For the Year ended For the Year ended
Particulars
31-3-2020 31-3-2019
A CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before Tax 520.97 400.53

Ad justments for:
Depreciation and Amortisation Expense 96.72 40.00
Interest income (9.24) (11.62)
Foreign Exchange Gain (21.21) (30.40)
Finance cost 54.01 38.43
Loss on sale of Property, Plant and Equipments 0.01 0.00
Sundry Balances Written off I (written back) 26.11 (30.77)
Cash generated from the operations of acquisition 0.00 216.73
Operating profits before working capital changes 667.37 622.90
Changes in working capital
Increase in Inventories (48.52) 167.00
Increase in Trade receivables (536.31) (311.78)
Decrease in other assets (15.50) 5.93
Increase in Trade payables 209.06 (42.78)
Decrease in other liabilities and provisions 98.90 1.53
(292.37) (180.10)
Cash generated from operations 375.00 442 .80
Taxes (paid) (119.39) (169.97)
Net Cash generated from operating activities 255.61 272.83
B Cash fl ow from Investing actlvities
Capftal expenditure on Property, plant and equipments, including Capital work in

(135.97) (197.06)
progress and capital advances
Proceeds from sale of property, plant and equipments
Investment in Joint Venture (18.09) (2.51)
Bank deposit I margin money withdrawn I (deposi ted) 73.37 (64.01)
Loan received back/ (given) from/ to related parties 426.29 (82.08)
Loan received back I (given) from I to others 15.68 (15.68)
Interest received 14.07 2.96
Net cash generated from I (used in) Investing activities 375.35 (358.38)
C Cash flow from Financing activities
Proceeds from Non current borrowings 42.27 0.00

Repayment of Non current borrowings 0.00 (26.27)
Net Proceeds I (Repayment ) of current borrowings (412.84) 226.09
Finance cost paid (54.01) (38.43)
Payment of Dividend inclusive tax on dividend (42.86) 0.00
Tax on buy back of shares (6.85) 0.00
Net Cash (used in) I generated from Financing activities (474.29) 161.39
156.67 75.84
0.00 8.83
95.55 10.88
252.22 95.55
PRAVEG COMMUNICATIONS {INDIA) LIMITED
Standalone Statement of Cash Flow for the year ended 31-3-2020
i) The above Standalone Statement of Cash Flows has been prepared under the "Indirect Method" as set out in Indian Accounting
Standard (Ind AS) - 7 "Statement of Cash Flows" .
ii) Cash and cash equivalents comprise of: Amount In Rs. In Lokhs
As at As at
Particulars
31-Mar-2020 31-Mar-2019
Balances with banks: -
-In current accounts 29.11 90.91
-In Over Draft account 217.33 0.00
Cash on hand 5.78 4.64
Cash and cash equivalents as per statement of cash flow 252.22 95.55
ii) Changes in liabilities arising from financing activities

Amount in Rs. in Lokhs
Other
Particulars 1-4-2019 Cash flow 31-3-2020
Adjustment
Long-term Borrowings
(including Current Maturities of Long 143.49 42.27 0.00 185.76
Term Debt)
Short-term borrowing 416.32 (195.51) 0.00 220.81
Finance Cost Paid 0.00 (54.01) 0.00 (54.01)
Total 559.81 (207.25) 0.00 352.56
Other
Particulars 1-4-2018 Cash flow 31-3-2019
Adjustment
Long-term Borrowings
(including Current Maturities of Long 60.41 83.08 0.00 143.49
Term Debt)
Short-term borrowing 252.50 163.82 0.00 416.32
Finance Cost Paid 0.00 (38.43) 0.00 (38.43)
Total 312.91 208.47 0.00 521.38
See accompanying notes to th e financial statements

For, B. K. PATEL & CO. PRAVEG COMMUNICATIONS {INDIA) LIMITED
Chartered Accountants (Formerly Known as Sword and Shield Pharma Limited)
FRN :- 112647W CIN : L24231GJ1995PLC024809
Pacas&J.*
Managing Director
c\i~~P~el Chairman
DIN :- 00467608 DIN :- 02011649
~·~'1>()
A&
CA Vira l Doshi
Chief Financial Officer
~~
Mukesh Chaudhary
Company Secretary

Date : 03-07-2020 Date : 03-07-2020
CIN : l24231GJ1995PLC024809
1 Notes to Standalone Financial Statements for the year ended 31-March-2020
(A) Corporate Information
These statements comprise the Standalone Financial Information of Praveg Communications (India) Limited (the Company). The
Company is domiciled ln India, incorporated on February 28, 1995 under the provisions of the Companies Act applicable in India
and listed on Bombay Stock Exchange. The registered office of the company ls located at Shop No. 101, First Floor, Shanti Arcade,
132 Feet Ring Road, Naranpura Ahmedabad, Gujarat, PIN : 380 013, India.
The Company is principally engaged in business of providing services in holding and arranging Events, Exhibitions, Advertisement,
Hospitality and in pharma sector.
(8) Significant Accounting Policies
Basis of preparation and presentation

Standalone Financial Statements of the Company have been prepared as per Indian Accounting Standards (Ind AS) in accordance
with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time, notified under Section 133 of
Companies Act, 2013, (the 'Act') and other relevant provisions of the Act.
Ii Basis of measurement
The Standalone Financial Information has been prepared on a historical cost basis, except for the following:
- certain financial assets and liabilities that are measured at fair value (refer- Accounting policy regarding financials
instruments);
- defined benefit plans - plan assets measured at fair value less present value of defined benefit obligation; and
Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Accounting
policies have been consistently applied except where a newly Issued accounting standard is initially adopted or a revision to an
existing accounting standard requires a change in the accounting policy hitherto in use.
iii Presentation
Items included in the financial statements of the entity are measured using the currency of the primary economic environment in
which the entity operates ('the functional currency'). The financia l statements are presented in Indian rupee (INR) rounded off to
the nearest lakhs, except expressly stated otherwise, which Is entity's functional and presentation currency.
(C) Summary of Significant Accounting Policies
a) Foreign currency transaction and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the
transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the t ranslation of
monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in profit or
loss.
Foreign exchange differences regarded as an adjustment to borrowing costs are presented in the statement of profit and loss,
within finance costs. All other foreign exchange gains and losses are presented in the statement of profit and loss on a net basis
within other aains/(lossesl.
b) Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any.
Freehold land and Leasehold Land are stated at cost. The cost comprises purchase price, borrowing costs if capitalization criteria
are met and directly attributable cost of bringing the asset to its working condition for the intended use. Any trade discounts and
rebates are deducted in arriving at the purchase price.
Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item is
depreciated separately. When significant parts of plant and equipment are required to be replaced at intervals, the Company
d~r.ec~ them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is
~~~
~ recog~c[.\ the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other
* ( (epa· nd m~ntenance costs are recognized in profit or loss as incurred.
q l
PRAVEG COMMUNICATlONS (INDIA) LIMITED
(FORMERLY KNOWN AS SWORD AND SHIELD PHARMA LIM ITED)
CIN : L24231GJ199SPLC024809
Subsequent expenditure related to an item of property, plant and equipment is added to its book value only if it increases the
future benefits from its previously assessed standard of performance. All other expenses on existing property, plant and
equipment, including day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the statement of
profit and loss for the period during which such expenses are incurred.
Borrowing costs directly attributable to acquisition of property, plant and equipment which take substantial period of time to get
ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use.
Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date is classified as
capital advances under other non-current assets.
An item of property, plant and equipment and any significant part initially recognized is de-recognized upon disposal or when no
future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated
as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit
and loss when the Property, plant and equipment is de-recognized.
Expenditure directly relating to construction activity is capitalized. Indirect expenditure incurred during construction period is
capitalized to the extent to which the expenditure is indirectly related to construction or is incidental thereto. Other indirect
expenditure (including borrowing costs) incurred during the construction period which is neither related to the construction
activity nor is lncldental thereto is charged to the statement of profit and loss.
Costs of assets not ready for use at the balance sheet date are disclosed under capital work- in- progress.
Depreciation methods, estimated useful lives and residual value

Depreciation is calculated on written down value basis using the useful lives prescribed under Schedule II to the Companies Act,
2013. If the management's estimate of the useful life of an item of property, plant and equipment at the time of acquisition or the
remaining useful life on a subsequent review is shorter than the envisaged in the aforesaid schedule, depreciation is provided at a
higher rate based on the management's estimate of Lhe useful life/ remaining useful life.
The property, plant and equipment acquired under finance lease~ 1s depreciated over the asset's useful life or over the shorter of
the asset's useful life and the lease term If there is no reasonable certainty that the company will obtain ownership at the end of
the lease term. Leasehold land is amortised on a straighL line basis over the balance period of lease.
The residual values are not more than 5% of the original cost of the asset.
The assets' residual values and useful lives are reviewed, and adiusted if appropriate, at the end of each reporting period. An
asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its
estimated recoverable amount.
c) Intangible assets
Intangible assets that are acquired by the Company are measured initially at cost. After initial recognition, an intangible asset is
carried at its cost less any accumulated amortization and accumulated impairment loss.
Subsequent expenditure is capitalized only when It increases the future economic benefits from the specific asset to which it
relates. An intangible asset 1s derecognized on disposal or when no future economic benefits are expected from its use and
disposal.
Losses arising from retirement and gains or losses arising from disposal of an Intangible asset are measured as the difference
between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss.
Amortisation methods and periods

Intangible assets comprising of trade marks are amortized on a Straight Line Method over its useful life.
The estimated useful lives of intangible assets and the amortisation period are reviewed at the end of each financial year and the
amortisation method is revised to reflect the changed pattern, if any.
d) Impairment of non financial assets

The Company assesses, at each reporting date, whether there Is an indication that an asset may be impaired. If any indication
exists, or when annual impairment testing for an asset is required, the Company estimates the asset's recoverable amount. An
asset's recoverable amount is the higher of an asset's or cash-generating unit's (CGU) fair value less costs of disposal and its value
i!1rtJ,s~ecoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely
'incfep ~~ nt of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its
t
~~ -
recove ~ amount, the asset is considered impaired and is written down to its recoverable amount.
IHMC: \ADJ
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CIN : L24231GJ1995PLC024809
In assessing value in use. the estimated future cash flows are discounted to their present value using a pre-tax discount rate that
reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less
costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate
valuation model is used.
Impairment losses are recognized in the statement of profit and loss. After impairment, depreciation is provided on the revised
carrying amount of the asset over its remaining useful life.
When there is indication that an impairment loss recognised for an asset (other than a revalued asset) in earlier accounting
periods no longer exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Profit and
Loss, to the extent the amount was previously charged to the Statement of Profit and Loss.
e) Financial Instruments
Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual provisions of the
instruments.
Initial Recognition
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value
through profit or loss and ancillary costs related to borrowings) are added to or deducted from the fair value of the fmanc1al
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of
financial assets or financial liabilities at fair value through profit or loss are recognised immediately in Statement of Profit and
Loss.
Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive
income ("FVOCI") or fair value through profit or loss ("FVTPL") on the basis of following:
- the entity's business model for managing the financial assets and
- the contractual cash flow characteristics of the financial asset.
(i) Amortised Cost

A financial asset shall be classified and measured at amortised cost if both of the following conditions are met:
- the financial asset is held within a business model whose objective Is to hold financial assets 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.
(ii) Fair Value through other comprehensive income

A financial asset shall be classified and measured at fair value through OCI if both of the following conditions are met:
- the financial asset is held withtn 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.
(iii) Fair Value through Profit or Loss

A financia l asset shall be classified and measured at fair value through profit or loss unless it 1s measured at amortised cost or at
fair value through OCI.
All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, dependmg on the
classification of the financial assets.
Classification and Subsequent Measurement: Financial liabilities

Financial liabilities are classified as either financial liabilities at FVTPL or 'other financia l liabilities'.
l~ as 9 ;"'
(il RQ ncial Liabilities at FVTPL
£ . .~~~~ bilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial recognition
O' Losses on Uabilities held fo' t<ad;ng a<e 'ecogn;sed ;n the Si.tement of Prnfit and Loss.
PRAVEG COMMUNI CATIONS (INDIA} LIMITED
CIN : L24231GJ1995PLC024809
(ii) Other Financial liabilities:

Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortised cost using
the effective interest method.
The effective interest method Is a method of calculating the amortised cost of a financial liability and of allocating interest
expense over t he relevant period . The effective interest rate 1s the rate that exactly discounts estimated future cash payments
(including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other
premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net
carrying amount on initial recognition.
Impairment of financial assets
Financial assets, other than those at FVTPL, are assessed for indicators of impairment at the end of each reporting period. The
Company recognises a loss allowance for expected credit losses on financial asset. In case of trade receivables, the Company
follows the simplified approach permitted by Ind AS 109 - Financial Instruments fo r recognition of impairment loss allowance. The
application of simplified approach does not require the Company to track changes in credit risk. The Company calculates the
expected credit losses on trade receivables using a provision matrix on the basis of its historical credi t loss experience.
Derecognition of financial assets

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when 1t
transfers the financia l asset and substantially all the risks and rewards of ownership of the asset to another party. If the Company
neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset,
the Company recognises its retained interest in the asset and an associa ted .liability for amounts It may have to pay. If the
Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to
recognise the financial asset and also recognises a colla terallsed borrowing for the proceeds received.
On derecognition of a financial asset in its entirety, the difference between the asset's carrying amount and the sum of the
consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive income
and accumulated in equity is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss
on disposal of that financial asset.
Derecognition of financial liabilities
A financial liability is derecogn1zed when the obligation under the liabillty is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability
are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the
recognition of a new liability. The difference in the respective carrying amounts is recogni zed In the statement of profit or loss.
Investment in Subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in Subsidiaries, associates and JOint venture at cost less impairment loss (if any)
The investments in preference shares with the right of surplus assets which are in nature equity in accordance with Ind AS 32 are
treated as seoarate category of investment and measured as at FVTOCI.
Offsetting of finan cial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there Is a currently
enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and
settle the liabilities simultaneously.
Derivative financial instruments

Derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and
are subsequently re -measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as
financial liabilities when the fair value is negative.
1RtJiahl::i~ l iabi lities and equity instruments

Cla~i~ ·on as debt or equity
r~o Oebt~7d ~quity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the
K.~~7ff the contractual arrangements and the definitions of a financial liability and an equity instrument.
~#
{FORMERLY KNOWN AS SWORD AND SHIELD PHARMA LIMITED)
CIN: L24231GJ199SPLC024809
Equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities
Equity instruments issued by a Company are recognised at the proceeds received.
f) Taxes on Income
Current Income tax
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the
reporting date In the countries where the company operates and generates taxable income.
Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other
comprehensive income or in equity) Current tax items are recognised in correlation to the underlying transaction either in OCI or
directly in equity. Management periodically evaluates positions taken 1n the tax returns with respect to situations 1n wh1cl':
applicable tax regulations are subject to interpretation and establishes provisions where appropriate.
ii Deferred tax
Deferred income tax Is recognized using the balance sheet approach, deferred tax is recognized on temporary differences at the
balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes,
except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a t ransaction that 1s
not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction
Deferred Income tax assets are re cognized for all deductible temporary differences, carry forward of unused tax credits and
unused tax losses, to the extent that It Is probable that taxable profit will be available against which the deductible temporary
differences. and the carry forward of unused tax credits and unused tax losses can be utilized.
The carrying amount of deferred Income tax assets is reviewed at each balance sheet date and reduced lo the extent that 1t is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized
Deferred income tax assets and liabilities are measured al the tax ra tes that are expected to apply in the period when the asset is
realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance
sheet date.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against
current tax liabilities and the deferred taxes relate to the same taxable entity and the same tal\ation authoritv.
iii Minimum alternate Tax
MAT payable for a year is charged to the statement of profit and loss as current tax. The Company recognizes MAT credil
available in the statement of profit and loss as deferred tax with a corresponding asser only to the extent that there 1s probability
that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be
carried forward. The said asset 1s shown as 'MAT Credit Entitlement' under Deferred Tax. The Company reviews the same at each
reporting date and writes down the asset to the extent the Company does not have probable certainty that It will pay normal tax
during the specified period.
g) Inventories
Inventories are valued at the lower of cost and net realisable value
Costs comprises cost of procurement, cost of conversions and other overheads directly attributable to bringing the invento11es to
its present locatfon and condit ion.
Net realisable value Is the estimated selling price in the ordinary course of business, less estimated costs of completion and the
estimated costs necessary to make the sale. The net realizable value of work-in-progress is determined with reference to the
selling prices of related finished products. Raw materials and other supplies held for use in production of finished products are not
written down below cost except in cases where material prices have declined and it is estimated that the cost of the f1n1shed
products will exceed their net realizable value.
CIN: L24231GJ1995PLC024809
h) Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can
be reliably measured, regard less of when the paym ent is being made. Revenue from contracts with customers for sale of Goods
or Services is recognized wh en either at a point In time or over time, when (or as) the Company satisfies performance obligations
by transferring the promised goods or service to its customers and there is a certainty of collection of revenue. The Company
collects GST on behalf of the Government and, therefore, these are not economic benefits flowing to the Company. Hence, they
are excluded from revenue. Revenue is disclosed net of discounts, incentives and returns, as applicable.
Dividend is recognised when the company's right to receive the payment is established, which is generally when shareholders
approve the dividend.
i) Employee benefits
(i) Short- term obligations
Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after
the end of the period in which the employees render the related service are recognised in respect of employees' services up to
the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The
liabilities are presented as current employee benefit obligations in the balance sheet.
The liabilities for earned leave and sick leave are expected to be settled wholly within 12 months after the end of the period in
which the employees render the related service. They are therefore measured at expected payments to be made in respect of
services provided by employees.
(ii) Post-employment obligations
The company operates defined contribution plans viz provident fund and pension plans as a part of its post-employment schemes.
The company pays provident fund contributions to pubhcly administered provident funds as per local regulations. The company
has no furt her payment obligations once the contributions have been paid. The contributions are accounted for as defined
contribution plans and the contributions are recognised as employee benefit expense when they are due. Prepaid contributions
are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
(iii) Compensated Absences

As per the policy of the Company, no leave balances are allowed to be carried forward. All leave accumulat ed are encashed after
the financial year end.
j) Leases
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the
inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a
specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that righ t is not explicitly specified
in an arrangement.
As a lessee
A lease is classified at the inception date as a finance lease or an operatin g lease. Leases of property, plant and equipment where
the company, as lessee, has substantially all the risks and rewards of ow nership are classified as finance leases.
Leases in which a significant portion of the risks and rewards of ownership are not transferred to the company as lessee are
classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the
period of the lease unless the payments are structured to increase in line with expected general inflation to compensate for the
lessor's expected inflationary cost increases. Land leases for long term (say, 99 years) are classified as finance leases and not
depreciated.
As a lessor
Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Company to
the lessee. Amounts due from lessees under finan ce leases are recorded as receivables at the Company's net investment in the
1
16<},~inan ce lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net
~/ 1f19eftete~t outstan ding in respect of the lease.
~~·· . ~
{FORMERLY KNOWN AS SWORD ANO SHIELD PHARMA LIMITED)
CIN : L24231GJ 199SPLC024809
Lease income from operating leases where the company Is a lessor is recognised in income on a straight-line basis over the lease
term unless the receipts are structured to increase in line with expected general inflation to compensate for the expected
inflationary cost increases. The respective leased assets are included in the balance sheet based on their nature.
k) Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event and it is
probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.
If t he effect of t he t ime value of money is material, provisions are determined by discounting the expected future cash flows to
net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of money
and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognised in the Statement of Profit and
Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best estimate.
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, is disclosed as a contingent liability. Contingent liabilities are also
disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the
occurrence or non -occurrence of one or more uncertain future events not wholly within the control of the Company.
Claims against the Company where the possibility of any outflow of resources In settlement is remote, are not disclosed as
contingent liabilities.
Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never be
realised. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and is
recognised.
l) Borrowing costs
Borrowing costs are interest and other costs that the Company incurs in connection with the borrowing of funds and is measured
with 1efe1 ence to the effective interest rate (EIR) applicable to the respective borrowing. Borrowing costs include Interest costs
measured at EIR and e)(change differences ari sing from foreign currency borrow ings to the extent they are regarded as an
adjustment to the interest cost.
Borrowing costs, allocated to qualifying assets, pertaining to the period from commencement of activities relating to construction
Idevelopment of the qualifying asset up to the date of capitalisation of such asset are added to the cost of the assets.
Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when
active development activity on the qualifying assets is interrupted.
All other borrowing costs are recognised as an expense in the period which they are incurred.
m) Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which It may earn revenues and
incur expenses, whose operat ing results are regularly reviewed by the company's chief operating decision maker to make
decisions for which discrete financial information is available. Based on the management approach as defined in Ind AS 108, the
chief operating decision maker evaluates the Company's performance and allocates resources based on an analysis of various
performance indicators by business segments and geographic segments.
n) Earnings per share

Basic earnings per share
Basic earnings per share is calculated by dividing:
- the profit attributable to owners of the company
- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in
equity shares issued during the year
Diluted earnings per share
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:
-the after income tax effect of interest and other financing costs associated with dilutive potential equity
*': ,.thewe/ghted average number of additional equity shares that would have been outstanding assuming the conversion of
l::Jr~ all dilu) ll: rtential equity shares.
~" _.:;J
PRAVEG COMMUNICATIONS (I NDIA) LIMITED
CIN: L24231GJ1995PLC024809
o) Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original
maturity of three months or less, which are subject to an Insignificant risk of changes in value.
For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company's cash management.
p) Cash Flow Statement

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-
cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses
associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company
are segregated.
q) Non-current assets (or disposal groups) classified as held for disposal:

Assets are classified as held for disposal and stated at the lower of carrying amount and fair value less costs to sell
To classify any Asset as "Asset held for disposal" the asset must be available for immediate sale and its sale must be highly
probable. Such assets or group of assets are presented separately in the Balance Sheet, in the line "Assets held for disposal''. Once
classified as held for disposal, intangible assets and PPE are no longer amortised or depreciated.
Current/non current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated
as current when it is:
- Expected to be realised or intended to be sold or consumed in normal operating cycle
- Held primarily for the purpose of trading
• Expected to be realised within twelve months after the reporting period, or
·Cash or cash equiv;:ilcnt unless restricted from being exchanged or used to settle a liability for al l ed~l twelve monlhs
after the reporting period
All other assets are classified as non-current.
A liability is current when:
- It is expected to be settled in normal operating cycle
- It is held primarily for the purpose of trading
• it is due to be settled w ithin twelve months after the reporting period, or
- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.
The operating cycle Is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents.
The company has identified twelve months as its operating cycle.
r) Government Grants
Government grants whose primary condition is that the Company should purchase, construct or otherwise acquire non-current
assets are recognised as deferred revenue in the balance sheet and transferred to profit or loss in the period in which they
become receivable.
s) Dividends
Provision ls made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the
entity, on or before the end of the reporting period but not distributed at the end of the reporting period.
t) Significant accounting judgements, estimates and assumptions

The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires
~ i{ti.~ mao)lgement of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities,
1.... disclosllr ~elating to contingent liabilities as at the date of the financial statements and the reported amounts of income and
~ ·/,.j~e~ se ~ r t~e periods presented.
c. .
~ -~
'f>?. ·~'
~~/.~
CIN : L24231GJ199SPLC024809
This note provides an overview of the areas that involved a higher degree of Judgement or complexity, and of items which are
more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed.
Detailed information about each of these estimates and judgements is included in relevant notes together with information about
the basis of calculation for each affected line item in the financial statements.
Fair value measurement of Financial Instruments
When the fair values of financials assets and financial liabilities record ed 1n the financial statements cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques which involve various judgements and
assumptions.
ii Estimation of net realizable value for inventories
Inventory is stated at the lower of cost and net realizable value (NRV). NRV for completed inventory 1s assessed by reference to
market conditions and prices existing at the reporting date and is determined by the Company, based on comparable transactions
identified.
iii Impairment of non • financial assets
The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication
exists, or when annual impairment testing for an asset is required, the Company estimates the asset's recoverable amount. An
asset's recoverable amount is the higher of an asset's or cash-generating unit's {CGU) fair value less costs of disposal and its value
in use. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely
Independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its
recoverable amount, the asset is considered impaired and is written down to its recoverable amount.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that
reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less
costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate
valuation model is used.
iv Recoverability of trade receivables
In case of trade receivables, the Company follows the simplified approach permitted by Ind AS 109 - Financial Instruments for
recognition of impairment loss allowance. The application of simplified approach does not require the Company to track changes
in credit risk. The Company calculates the expected credit losses on trade receivables using a provision matrix on the basis of its
historical credit loss experience.
v Useful lives of property, plant and equipment/intangible assets
The Company reviews the useful life of property, plant and equipment/intangible assets at the end of each reporting period. This
reassessment may result in change in depreciation expense in future periods.
vi Taxes and valuation of deferred tax assets
Significant management judgement is required to determine the amounts of current taxes, deferred taxes and tax credits that can
be recognised, based upon the likely timing and the level of future taxable profits together w ith future tax planning strategies.
The Company reviews the carrying amount of deferred tax assets at the end of each reportin g period. The policy for the same has
been explained under policies above.
vii Defined benefit plans
The cost of the defined benefit gratuity plan and other post-employment medical benefits and the present value of the gratuity
obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ
from actual developments in the future. These include the determination of the discount rate, future salary increases and
mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation 1s highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
viii Impairment of investments in associates
Determining whether investment in associate is impaired requires an estimation of the value in use of the investee entity. The
value in use calculation requires management to estimate the future cash flows expected to arise from the associate's operations
and a suitable discount rate in order to calculate present value.
Notes to the Standalone Financial Statements for the year ended on 31-03-2020
- . . ---· -... ·-··- -·· - ---·-···-··- -· ·- --··-· ···--··-·-·-. ,._. ____

Office Furnitu re and Computer and Intangible
PARTICULARS Land Buildings Vehicles Total
Equipment Fixtures Peripheral Assets
Cost
As at 1-4-2018 1.38 93.02 59.88 6.33 62.98 45.24 268.83 1.37
Addit ions 0.00 0.00 S43 0.00 194.45 4.29 204.17 0.00
Disposals/ Ad1ustments 0.00 0.00 000 0.00 0.00 0.00 0.00 0.00
As at 31·3-2019 1.38 93.02 65.31 6.33 257.43 49.53 473.00 1.37
As at 1-4-2019 1.38 93.02 65.31 6.33 257.43 49.53 473.00 1.37

Additions 0.00 0.00 4.28 0.00 128.04 4.16 136.48 0.00
Disposals/ Adjustments 0.00 0.00 0.00 0.00 10.35 0.00 10.35 0.00
As at 31-3-2020 1.38 93.02 69.59 6.33 375.12 53.69 599.13 1.37
Accumulated Degreciation
As at 1-4-2018 0.00 25.69 26.47 5.67 52.77 37.06 147.66 0.64
Depreciation charge for the year 0.00 6.40 6.78 0.14 22.55 3.76 39.63 0.37
Disposals/ Adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
As at 31-3-2019 0.00 32.09 33.25 5.81 75.32 40.82 187.29 1.01
As at 1-4-2019 0.00 32.09 33.25 5.81 75.32 40.82 187.29 1.01

Depreciation charge for the year 0.00 5.79 6.44 0.07 79.87 4.49 96.66 0.06
Disposals/ Adjustments 0.00 0.00 o.:io 0.00 9.82 0.00 9.82 0.00
As at 31-3-2020 0.00 37.88 39.59 5.88 145.37 45.31 274.13 1.07
Net Book Value

As at 31-3-2020 1.38 55.14 29.90 0.45 229.75 8.38 325.00 0.30
As at 31-3-2019 1.38 60.93 32.06 0.52 182.11 8.71 285.71 0.36
For the Year Ended on For the Year Ended on

PARTICULARS
31 March 2020 31 March 2019
Depreciation on Property, Plant and Equipment 96.66 39.63
Amortisation on Intangible Assets 0.06 0.37
Total of Depreciation and Amortisation Expense 96.72 40.00
2.1 land Assets is still held in name of Erstwhile company (Praveg Communications Limited).
2. ~'),~
·ndudes godown constructed on Leasehold Plot of Land.
'2.3 ~.
~
Vehic held in the name of Directors on behalf of the company.
~ !Ci umber:- 40 for note on amalgamation.
~·
~~'
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(FORMERLY KNOWN AS SWORD ANO SHIELD PHARMA LIMITED)
3 Non Current Investment Amount m Rs m lokhs

As at As at
Particulars
31/Mar/2020 31/Mar/2019
Investments in Unquoted Fully Paid Equity Instruments;

subsidiaries (valued at cost)
- Praveg Communications Aus. Pty. Ltd. • 0.00. 0.00.
- Praveg Communication s USA Inc. 0.07 0.07
- Praveg Tourism Private Limited 0.50 0.50
- - - -- - -
* Amount in Rs. =Rs. 120. 0.57 0.57
Inves tments in Jo int Venture (valued at cost )

- Sardar Sarovar Tourism Opportuniti es 20.60 2.51
Total of Non Current Investment 21.17 3.08
3.1 Disclosure of Significant interest in Subsidiaries and Joint Venture

Pursuant the scheme Amalgamation following list of entity 1s now Subsidiaries and Joint Venture of the company : -
Name of Subsidiaries % of Holding No. of Equity Share race value

Praveg Communications Aus. Pty. Ltd. 100.00 2 60.00
ti Praveg Communications USA Inc. 100.00 100 63.99
iii Praveg Tourism Private Limite d 50.20 5020 10.00
Name of Joint Venture % of Sharing

Sard ar Sarovar Tourism Opportunities 50.00
3.2 Refer note number :- 40 for note on amalgamation.

3.3 Refer note number :- 38 fo r Unhedged forex exposure
4 Deferred Tax Assets (Net) Amovnr m Rs m LokllS

As at As at
Particulars
31/Ma r/2020 31/Ma r/2019
Deferred tax assets on Timing Difference 16.22 16.01
Total of Deferred Tax Assets (Net) 16.22 16.01
4.1 Refer note number:- 37 for movement in Deferred Tax Assets
S Other Non Current Assets Amount m Rs m Lokhs

As at A s at
Particulars
31/Ma r/2020 31/Mar/ 2019
Security Deposits 5.95 8.24

ii Income Tax (TDS) Receivable 1.00 0.00
Tota l of Other Non Current Assets 6.95 8.24

Notes to the Standa lone Financial Statements for the year ended on 31-03-2020
6 Inventories Amount m Rs. in Lokhs

As at As at
Particulars
31-Mar-2020 31-Mar-2019
Materials for Events & Exhibitions (lower of cost and net realisable value) 244.28 195.76
Total Inventories 244.28 195.76
6.1 Materials for Events & Exhibitions are hypothecated to bank against working capital facilities (Refer note 17.2)
7 Trade Receivables Amount m Rs. In Lok/is
As at As at
Particulars
31-Mar-2020 31-Mar-2019
Unsecured, Considered good 1,292.67 782.47
Total ofTrade Receivables 1,292.67 782.47
7.1 Fair value of trade receivables is not materially different from carrying value presented.
7.2 Trade receivables are hypothecated to bank against working capital facilities. (Refer note 17.2)
7.3 The Company ls having majority of receivables from Government Companies, Local Authorities and Departments of
State/Central Government and regularly receiving dues from its customers. Hence, credit losses In the future are not material.
Out of all Trndc Receivables 86.34 % are receivables from such Government Companies, Locdl Aulhorities and Departments of
State/Central Government. Company regularly receives money receivable, reducing the credit risk Loss.
7.4 Refer note number:- 40 for note on amalgamation.

7.5 Amount inclues Rs. Nil (PY Rs. 103.38 Lakhs) form related Parties. Refer note number:- 39 for Related Party Transactions
8 Cash and Cash Equivalents Amount m Rs. In Lokhs

As at As at
Particulars
31-Mar-2020 31-Mar-2019
Balances with banks

In current accounts 29.11 90.91
In Over Draft account 217.33 0.00
Cash on hand 5.78 4.64
Total of Cash and Cash Equivalents 252.22 95.55
9 Other Bank Balance Amount in Rs In Lokhs
As at As at
Particulars
31-Mar-2020 31-Mar-2019
Balances with banks - (At Amortized Cost Method )

-held for guarantees 30.16 103.53
Total of Ortwr ~ank Balance 30.16 103.53

9 .1 Fair value of Other Bank Balance is not materially different from the carrying value presented.
9 .2 These fixed deposits are not available for immediate use being in the nature of security offered and held for guarantee
9 .3 Refer note number :- 40 for note on amalgamation.
10 Current Loans Amount m Rs. in Lokhs

As at As at
Particulars
31- Mar-2020 31-Mar- 2019
(Unsecured, unless otherwise stated)

(Considered good, unless otherwise stated)
Loans to related parties 123.98 529.06
ii Loans to Employees 0.06 4.46
iii Other Loans & Advances 0.00 15.68
Total of Current Loans 124.04 549.20
10.1 Fair value of Current loans is not materially different from the carrying value presented.
10.2 Refer note number;- 40 for note on amalgamation.
10.3 Refer note number :- 39 for realted party transactions.
10.4 Refer note number:- 38 for Un hedged forex exposure
11 Other Financial Assets Amount m Rs. m Lokhs

As at As at
Particulars
31-Mar-2020 31-Mar-2019
Interest accrued 3.84 8.67

ii Security Deposits 52.56 10.11
iii Others 0.17 0.00
Total of Other Financial A ssets 56.57 18.78
11. l Refer note number :- 40 for note on amalgamation.

11.2 Security Deposits receivables from various government authorities, and Government companies.
11.3 Fair value of other current financial assets is not materially different from the carrying value presented.
12 Other Current Assets Amount m Rs. m Lokhs

As at As at
Particulars
31- M ar-2020 31-Mar-2019
Prepaid expenses 86.44 77.94

ii Balance with Government Authority 18.49 45.74
iii Advance for goods and services 2.96 5.73
iv Advance to Employees 1.29 0.18
v Other Receivable 0.00 0.01
Total of Other Current Assets 109.18 129.60

13 Equ ity Share Capital Amount In Rs. m Lokhs Except number of shores
As at As at
Particulars
31-Mar-2020 31-Ma r-2019
Authori sed Share Capital
1,85,00,000 Equity Shares of Rs.10/- each 1,850.00 600.00

Previous Year: 60,00,000 Equity Shares of Rs.10/- each
1,850.00 600.00
Issued, Subscribed and fully Paid Up Capital
1,84,84,100 Equity Shares of Rs.10/ - each fu lly paid up 1,848.41 515.06
Previous Year: 51,50,600 Equity Shares of Rs.10/- each fu lly paid up
Shares pending to be issued on account of scheme of amalgamation (refer note below)
1,33,33,500 Equity share of Rs. 10/- each fully paid up pending for issue 0.00 1,333.35
Total of Equity Share Capital 1,848.41 1,848.41
13.2 Terms/rights attached to equity shares

The Company has only one class of equity shares having par value of Rs.10/- per share. Each holder of equity shares is entitled to one
vote per share. In the event of liquidotion of the Company the holders of th e equity shares will be entitled to receive remaining assets
of the Company. The distribution will be in proportion to the number of equity shares held by the share holders.
13.3 Reconciliation of the shares outstanding at the beginning and at the end of the reporting year
As at As at
3 l -M ar-2020 31-Mar-2019
Equity Shares
No. Shares Amount in Rs. in No. Shares Amount in Rs. in
Lakhs Lakhs
At the beginning of the Year -Fully Paid Up 51,50,600 515.06 51,50,600 515.06
Add : Addition during the year in pursuant to
1,33,33,500 1,333.35 0 0.00
scheme of arrangement
Outstanding at the end of the year 1,84,84,100 1,848.41 51,50,600 515.06
13.4 Details of shareholders holding with voting power more than 5% Equity shares in the Company
As at As at
31-Mar-2020 31-Mar-2019
Name of Share holders
No. Shares % holding in the No. Shares % holding in the
class class
Paraskumar M Patel 35,62,500 19.27 0 0.00

Sunlta P Patel 24,37,500 13.19 0 0.00
Vishnukumar V Patel 30,00,000 16.23 0 0.00
Ashaben V Patel 29,92,275 16.19 0 0.00
l ~
~ \o\ Total 0.00
I . ~.1~1)
1,19,92,275 64.88 0
:p ;
Notes to the Standa lone Financial Stateme nts for the year ended on 31-03-2020
14 Other Equity Amount in Rs. in Lokhs
Particulars
As at As at
31-Mar-2020 31-Mar-2019
Retained Earnings
Opening Balance 545.85 (495.94)
Add: Additions pursuant to the scheme of arrangement during the year 0.00 767.57
Add : Profit I (Loss) for the period 364.45 286.42
910.30 558.05
Less : Dividend Paid • 35.56 10.14
Dividend Distribution Tax** 7.30 2.06
Tax on Buy Back of Equity*** 6.85 0.00
(Refer note number 14.2) 49.71 12.20
Closing Balance 860.59 545.85
General Reserve
Opening Balance 57.77 0.00
Add: Additions pursuant to the scheme of arrangement during the year 0.00 57.77
Less: Utilised I transferred during the year 0.00 0.00
Share Premium Reserve
Opening Balance 37.63 0.00
Add: Additions pursuant to the scheme of arrangement during the year 0 .00 169.56
Less: Utilised I transferred during the year (Refer note 14.2) **** 0.00 131.93
Capital Reserve
Opening Balance (1,315.57) 0.00
Add: Additions pursuant to the scheme of arrangement during the year 0.00 (1,315.57)
Less: Utilised/ transferred during the year 0.00 0.00
Closing Balance (1,315.57) (1,315.57)
Tota l of Other Equity (359.58) (674.32)

14.1 Refer note number ;- 40 for note on amalgamation.
14.2 Dividend, Buy Back and Utilisation of Security Premium
• During the FY 2018-19 Erstwhile Praveg Communications Limited (Transferor Company ), after compliance of all provision of
companies act 2013, had Proposed dividend of Rs.20 per share. Divined was declared at AGM of Praveg Communications
Limited (transferor company) on 30-09-2019.
•• Dividend Distribution Tax (DDT) is tax on the Dividend distributed by Praveg Communications Limited (Transferor company) to
their Shareholders as per section 115-0 of the Income Tax Act, 1961.
*** Durin g FY 2018-19, Erstwhile Praveg Communications Limited (Transferor Company) had bought back 24940 number of Equity
Shares. Buyback of shares is taxable under section 115 QA of the Income Tax Act, 1961 which is calculated as per such
provisions.
**** Securities premium have been utilised in FY 2018-19 by Praveg Communications Limited (Transferor company) for buy back of
the 24940 equity shares.
15 Non-current Borrowings Amount In Rs. in Lokhs

As at As at
Particulars
31-Mar-2020 31-Mar-20 19
53.14 95.29
38.69 0.00
91.83 95.29
PRAVEG COM MUNICATIONS (INDIA) LIMITED
Notes to the Sta ndalone Financial Statements for the year ended on 31-03-2020
Notes:
15.1 Security Details for the Balance as at 31-03-2020:
Term Loans from banks and other referred are secured by hypothecation of vehicles.
15.2 Terms of Repayment of loans as on 31-03-2020 :
Amount In Rs. In Lakhs

Sr. Name of Lender Balance outstanding as on# No. of Instalment Pending as on Details of
No. 31-03-2020 31-03-2019 31-03-2020 31-03-2019 Instalments
I HDFC Bank Ltd. 57.84 87.10 21 33 2.98
Loan Financed for 97 .00 Lakh Payable every
Month
II HDFC Bank Ltd. 37.45 56.39 21 33 1.93
Loan Financed for 62.80 Lakh Payable every
Month
Ill Indian Bank 30.68 N. A 26 N.A. as Loan 1.29
Sanctioned in
Loan Financed for 41.00 Lakh Payable every
Current Financial
v.-..-..r Month
IV Daimler Financial services 32 N.A. as Loan
59.79 N.A
India Pvt Ltd. Sanctioned in 2.06
Loan Financed for 66.50 Lakh Current Financial Payable every
Year Month
#Balance Outstanding also includes current maturities of Long term Loans. (refer note number :- 19)
15.3 All Terms from Bank and Other loans have been guaranteed by Current directors of Company.
15.4 Rate of interest range from 7.15 % to 8.85 %.
15.6 Refer note number: - 36.C.l.l for Interest Risk.
16 Long Term Provisions Amount in Rs. in Lokhs
As at As at
Particula rs
31- Mar-2020 31-Mar-2019
( i ) Provision for Gratuity 22.00 0.00
Total of Long Term Provisions 22.00 0.00
16.1 Refer Note number: · 31 on Employee Benefits.

17 Current Borrowings Amount in Rs. In Lokhs
As at As at
Particulars
31-Mar-2020 31-Mar-2019
SECURED (Refer note -17.2 ) at Amortized Cost:-

( i ) Working Capital payable on demand from Bank 0.00 292.76
UNSECURED at Amortized Cost:-
( i ) Working Capital payable on demand from Bank 1.40 0.51
2.08 0.80
0.00 122.25
t Borrowings 3.48 416.32

PRAVEG COMMUNICATIONS (INDIA} LIMITED
Notes to t he St andalone Financia l Statements for the year e nded on 31-03-2020

17.2 Security details of Current Secured Loan:
Working Capital Loans (cash Credit) from Indian Bank [ Balance, in Previous Year Rs.292.76 Lakh s credit and in Current Year
Rs.217.33 Lakhs Debit] is secured by: -
a Primary Security :
Against hypothecation of Stock and Debtors.
b Collateral Security :
Equitable Mortgage of Immovable Assets of Promoter Sunita Patel, HUF of Promoter/Director Paraskumar Patel
c Company had also pledge Fixed Deposits of Rs. 30.16 Lakhs
d Directors including promoter Sunita Patel has given Personal Guarantee for the Cash Credit Loan to Company.
17.3 Unsecured Borrowing from Bank includes balances of Credit Cards.
17.4 Fair value of current borrowings is not materially different from the carrying value presented.
18 Trade Payables Amount m Rs. in Lokhs

As at As at
Particu lars
31-Mar-2020 31-Mar-2019
( i) Micro and Small Enterprises 0.00 0.00

( ii ) Other than Micro and Small Enterprises 512.94 303.88
Total of Trade Payables 512.94 303.88
18.l Fair value of other Trade Payables is not materially different from the carrying value presented.
18.3 The information required to be furnished as per Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006
(MSMED Act) and Schedule Ill of the Companies Act, 2013 for the year ended March 31, 2020 has been determined to the
extent such parties have been identified on the basis of information available with the Company and relied upon by auditors.
19 Other Financial Liabilities Amount in Rs. In Lokhs

As at As at
Particulars
31- Mar-2020 31-Mar-2019
SECURED:-
( i ) Current maturities of long-term debt
-From Banks 72.83 48.20
-From Other Financial institution 21.10 0.00
Tota l Other Financial Liabilities 93.93 48.20
19.1 For security and other details related to secured other current Financial Liabilities refer note number :- 15
20 Current tax liabilities (net) Amount In Rs. In Lokhs

As at As at
Particula rs
31-Mar-2020 31-Mar-2019
44.21 5.87
44.21 5.87
21 Short Term Provisions Amount In Rs. in Lokhs

As at As at
Particulars
31-Mar-2020 31-Mar-2019
( i ) Provision for employee salary and benefits 27.94 19.50

( ii ) Provision for Expenses 16.18 26.25
Total Short Term Provisions 44.12 45.75
22 Other Current Liabilities Amount in Rs. in Lakhs

As at As at
Particulars
31-Mar-2020 31-Mar-2019
( i ) Statutory Liabilities 163.42 98.89

( ii ) Advance from Customers 14.00 0.00
Total Other Current Liabilities 177.42 98.89

Notes to the Standalone Financial Statements for the year ended on 31-March-2020
23 Revenue from operations Amount m Rs. m Lokhs

For the Year Ended For the Year Ended
PARTICU LARS
31-03-2020 31-03-2019
Revenue from Operations

Sale of Services 5,914.99 5,903.89
Other Operating Revenues 36.80 7.59
Total Revenue from operations 5,951.79 5,911.48

23.2 Refer note number:- 39 for re lated parties transactions.
24 Other Income Amount m Rs. In Lokhs

PARTICULARS
31-03-2020 31-03-2019
Interest income
Interest income on financial assets 9.24 11.62
Other non-operating income comprises

Miscellaneous Income 5.01 0.03
Net gain on account of foreign exchange fluctuation 21.21 30.40
Liabilities written back 0.00 30.77
Total of Other Income 35.46 72.82
24.1 Refer note number:· 40 for note on amalgamation.
25 Event & Site Expenses Amount In Rs. In Lokhs

PARTICULARS
31-03-2020 31-03-2019
Consumption of Materials 2,667.45 3,235.54

Boarding & Lodging Expenses 58.96 49.90
Hiring Charges 1,220.29 1,033.58
Fuel Expenses 43.67 16.72
Entrance Fees 62.84 2.72
Royalty Expenses 111.42 36.30
Site Expenses 27.31 32.54
Transportation Charges 85.55 62.16
Total of Event & Site Expenses 4,277.49 4,469.46

26 Employee Benefit Expenses Amount m Rs. m Lokhs

PARTICULARS
31-03-2020 31-03-2019
Salaries and Wages 353.47 312.08

Directors' Remuneration 32.40 25.00
Contributions to provident and other funds 7.05 5.72
Gratuity Expense 24.08 0.00
Staff Welfare 15.01 7.60
Total of Employee Benefit Expenses 432.01 350.40

26. l Refer note number:- 40 for note on amalgamation.
26.2 Also Refer note number : - 39 for Related Party Transaction and note number:- 31 on Employee Benefits
27 Finance Costs Amount in Rs. in Lokhs

PARTICULARS
31-03-2020 31-03-2019
Interest expense on:

Interest Expense on Bank/Fl Loan 33.21 18.90
Other Interest Expense 11.42 7.09
Other borrowing costs
Bank Commission & Charges 9.38 12.44
Total of Finance Costs 54.01 38.43

28 Other Expe nses Amount in Rs. in Loklls

PARTICULARS
31-03-2020 31-03-2019
Advertisement & Web Site Expenses 100.26 92.16

Charity & Donation 61.92 0.20
Commission Expenses 13.93 7.75
Loss on sale of Property, Plant and Equipment's 0.01 0.00
Insurance Expense 5.06 3.96
Sundry Balances Written off 26.11 0.00
Legal and Professional Fees 99.12 102.94
Membership & Subscription 8.51 5.64
Office & Other Misc. Expense 5.48 7.90
Payments to auditors (Refer Note:- 29) 6.00 2.00
Power and Fuel 87.26 33.08
Printing And Stationery Expense 10.83 31.18
Rent Expenses 117.81 209.15
Repairs and Maintenance - Building 0.77 0.66
Repairs and Maintenance 3.36 2.82
Rates and Taxes 6.61 1.78
Telephone and Internet Expenses 8.15 5.47
0.41 0.50
44.45 178.29
606.05 685.48
PRAVEG COMM UNICATIONS (IN DIA) LIMITED
Notes to t he Standa lo n e Fina n cia l Stateme nts for the yea r ended o n 31-M arch-2020

28.2 Refer note number :-39 for related parties transactions.
29 PAYMENT TO AUDITORS Amount in Rs. In Lokhs

For t he Year Ended For the Year Ended
PARTICULARS
31-03-2020 31-03-2019
Payments to the auditors comprises (net of GST input credit, where applicable):
For statutory audit 6.00 2.00
For other services 0.00 0.00
Total 6.00 2.00
30 Segment Disclosure
The activities of Erstwhile Praveg Communications Limited (transferor Company) during the year was to origination of Events,
Exhibitions, Advertisement and Hospitality. The activities of Praveg Communications (India) Limited (formerly knowns as Sword and
Shield Pharma Limited) during the year was business of commission on pharma related products. Considering the nature of business and
operation post-amalgamation, as well as based on reviews of operating results by chief operating decision maker to make decision about
resource allocation and performances measurement. there is only one reporting segment in accordance with the requirement of Ind As -
108 - "Operating Segments".
31 Employee Benefit s
(A) Defined Contribution Plan
The Company's contribution to Provident Fund aggregating~ 5.49 lakhs (in Previous Year 2018-19 : ~ 3.82 lakhs) has been recognised in
the Statement of Profit and Loss under the head Employee Benefits Expense.
(B ) Defined Benefit Plans:

Gratuity
The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which provides a lump sum payment to
vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's
salary and the tenure of employment.
T he status of g ratuity plan as required under Ind AS-19 is as follow s:- Amountin Rs in lakhs
As at
Particulars
31-03-2020
i. Reconciliation of Opening and Closing Balances of defined benefit obligation

Present Value of Benefit Obligation at the Beginning of the Period 0.00
Current Service Cost 24.08
Liability Transferred In/ Acquisitions 0.00
Present Value of Benefit Obligation at the End of the Period 24.08
ii. Reconci liation of Opening and Closing Balances of the Fair valueof Plan assets
Fair Value of Plan Assets at the Beginning of the Period 0.00
Contributions by the Employer 0.00
Assets Transferred In/Acquisitions 0.00
Fair Value of Plan Assets at the End of the Period 0.00
PRAVEG COMMUNICATIONS (INDIA} LIM ITED
As at
Particula rs
31-03-2020
lii. Reconciliation of the Present value of defined benefit obligation and Fair va lue of plan assets
Present Value of Defined Benefit Obligations at the end of the year 24.08
Fair Value of Plan assets at the end of the year 0.00
Net (liability)/Assets recognized in balance sheet as at the end of the year (24.08)
Short-term provision (2.08)
Long-term provision (22.00)
iv. Gratuity Cost for the Year

Current service cost 24.08
Expenses recognised in the income statement 24.08
v. Actuarial Assumptions
Expected Return on Plan Assets N.A.
Rate of Discounting 6.87%
Rate of Salary Increase 6.00%
Rate of Employee Turnover 5.00%
Indian Assured lives

Mortality Rate During Employment
Mortality (2006-08) Ult
Mortality Rate After Employment N.A
l vi. Maturity Analysis of benefit payments : From Employer

Projected Benefits Payable in Future Years From the Date of Reporting 24.08
1st Following Year 2.08
2nd Following Year 1.24
3rd Following Year 1.30
4th Following Year 2.72
5th Following Year 1.31
Sum of Years 6 To 10 9.15
Sum of Years 11 and above 40.56
vii. Sensitivity Analysis

Projected Benefit Obligation on Current Assumptions 24.08
Delta Effect of +1% Change in Rate of Discounting (2.18)
Delta Effect of -1% Change in Rate of Discounting 2.60
Delta Effect of+1% Change in Rate of Salary Increase 2.60
Delta Effect of -1% Change in Rate of Salary Increase (2.22)
Delta Effect of+1% Change in Rate of Employee Turnover 0.10
Delta Effect of-1% Change in Rate of Employee Turnover (0.13)
a) The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the
end of the reporting period, while holding all other assumptions constant.
b) The sensitivity analysis presented above may not be representative of the actual change in the projected benefit obligation as it 1s
unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.
c ~ in presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated
l 8~ng e jected unit credit method at the end of the reporting period, which is the same m ethod as applied in calculating the
u ~· projecte e efit obligation as recognised in the Balance Sheet.
ri • ') l
q "" _;.: ' -
K!
PRAVEG COMMUN ICATIONS (IN DIA) LI M ITED
N otes to the Standa lone Financia l Statements for the year e n ded on 3 1- March-2020
As at
Pa rt ic ulars
3 1-03- 2020
viii. Other Details

Number of Active Members 80
Per Mont h Salary For Acti ve M embers 15.36
Weighted Average Durat ion of t he Projected Benefit Obligation 12
Average Expected Future Service 13
Projected Benefit Obligation (PBO) 24.08
Prescribed Contribution For Next Year (12 Months) 0.00
32 Basic/Diluted Earnings per Equlty share ( EPS) Amount In Rs. m Lok/ls Except no. of shore
As at As at
Partic ulars
31- Ma r-2020 31-M ar-2019
Ea rnings per e quity share
Profit attributable to equity shareholders 364.45 286.42
Weighted average number of equity shares outstanding during the year 18484100 18484100
Nominal value of equi ty share 10.00 10.00
Basic and Diluted EPS 1.97 1.55
32. l Weighted average number of equity share outstanding during the FY 2018-19 includes 1,33,33,500 equity Shares pending for issue
pursuant to amalgamation scheme.
32.2 Earning Per Share is not computed as per Ind AS 33 with respect to issue of Amalgamation, since the company has followed
accounting treatmen t specified under scheme approved by Hon'ble NCL T.
33 Contingent liabilities
Amount m Rs. in Lok/ls
As at As at
Partic ulars
31- M ar-2020 31- M ar- 2019
i) Claim of demand against the Company not acknowledged as debt in
respect of -
a) Service Tax 212.85 0.00
ii) Counter Guarantees
a) Outstanding amount of Counter Bank Guarantees 217.45 263.18
33. 1 Company has received unfavourable orders from Commissioner of Central Goods and Service Tax, & Central Excise by which a
demand of Rs.106.38 lakhs has been raised and Penalty there on of Rs. 106.38 lakhs has been imposed under section 78 of the
Finance Act, 1994 and Rs. 0.10 lakhs under Section 77(2) of the Finance Act, 1994, with interest recoverable under Section 75 of the
Finance Act, 1994, against which the Company is proposing to file an appeals before its higher authority being
Commissioner(Appeals), Central GST & Central Excise .. The Management 1s of the view that in view of facts of the case, no liability
shall arise with respect to above litigations.
33.2 Above Contingent Liabilities of service Tax, Rs. 212.85 Lakh s Includes Penallty of 106.48 Lakhs based order dated 03-06-2020 i.e.
event occuring after Balance Sheet Date.
34 Previous Year's figures
In view of t he amalgamation of Praveg Communications Limited with Praveg Communications (India) Limited (Formerly known as
Sword and Shield Pharm a Limite d), the financial results given for previous year includes fi nancials of t ransferor company
lncor orated w ith that of resulting company as a better comparisons for the rea ders of the financial statements.
·~~
~,,,statements have been approved by the Board of Directors of Company on 3-7-2020.
~~ ,,.,r 1 ~
36 Financial Instrument and Fair Value Measurement
A. Categories of Financial Instruments Amount In Rs In Lakhs

Amount as at 31-3-2020
Fair Value Fair Value Amortised Cost Total
Particulars through through Other
Profit & Loss Comprehensive
Income
Financial assets
i Trade receivables 0.00 0.00 1,292.67 1,292.67
ii Cash and cash equivalents 0.00 0.00 252.22 252.22
iii Bank balance other than (ii) above 0.00 0.00 30.16 30.16
iv Current Loans 0.00 0.00 124.04 124.04
v Other financia l assets 0.00 0.00 56.57 56.57
Total 0.00 0.00 1,755.66 1,755.66
Financial liabilities
i Borrowings 0.00 0.00 91.83 91.83
ii Current Borrowings 0.00 0.00 3.48 3.48
iii Trade payables 0.00 0.00 512.94 512.94
iv Ot her financial liabilities 0.00 0.00 93.93 93.93
Tot al 0.00 0.00 702.18 702.18
Fair Value Fair Value Amortised Cost Total
Particulars through through Other
Profit & Loss Comprehensive
Income
Financial assets
i Trade receivables 0.00 0.00 782.47 782.47
ii Cash and cash equivalents 0.00 0.00 95.55 95.55
iii Bank balance other than (ii) above 0.00 0.00 103.53 103.53
iv Current Loans 0.00 0.00 549.20 549.20
v Other financial assets 0.00 0.00 18.78 18.78
Total 0.00 0.00 1,549.53 1,549.53
Financial liabilities
i Borrowings 0.00 0.00 95.29 95.29
ii Cu rrent Borrowings 0.00 0.00 416.32 416.32
iii Trade payables 0.00 0.00 303.88 303.88
iv Other financial liabilities 0.00 0.00 48.20 48.20
Total 0.00 0.00 863.69 863.69
B. Capital Management
For the purpose of the Group's capital management, capital includes issued equity capital and all other equity reserves attributable
(FORMERLY KNOWN AS SWORD AND SH IELD PHARMA LIMITED)
Notes to the Standalone Financial St at ements for the year ended on 31-March-2020
ii Consistent with others in the Industry, the Group monitors Its capital using Gearing Ratio, Net Debt (Short Term and Long Term
Borrowings including Current maturities) divided by Total Capital (Total Equity plus Net Debt).
Amount m Rs. in lokhs
As At As At
Particulars
31-Mar-20 31-Mar-19
Long Term Borrowings 91.83 95.29
Short Term Borrowings 97.41 464.52
Less: Cash & Cash Equivalents 252.22 95.55
Net Debt (62.98) 464.26
Total equity 1,488.83 1,174.09
Total Capital 1,678.07 1,733.90
Gearing Ratio(%) (3.75) 26.78
iii In order to achieve this overall objective, the Group's capital management, amongst other things, aims to ensure that it meets
financial covenants attached to the borrowings that define the capital structure requirements.
C. Financial Risk Management Objectives and Policies

The Group's principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these
financial liabilities is to finance and support the Group's operations. The Group's financia l assets include trade and other
rece ivables, and cash & cash equivalents that derive directly from its operations.
The Group is exposed to market risk, and liquidity risk. The Group's senior management oversees the management of these risks.
The Group's senior management is supported by a Current Corporate Affairs Committee that advises on financial risks and the
appropriate financial risk governance fr:imework for the Group This committee provides assurance to the Group's senior
management that the Group's financial risk activities are governed by appropriate policies and procedure and that financial risks
are identified, measured and managed in accordance with the Group's policies and risk objectives. The Board of Directors reviews
and agrees policies for managing each risk, which are summarised as below :
1 Market Risk
Market risk is the risk that the fair value of future cash flows of a financial Instrument will fluctuate because of changes in market
pri ces. Market risk comprises of Interest rate risk, and foreign currency risk.
1.1 In terest Rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because ot changes in
market interest rates. The Group's exposure to the risk of changes in market interest rates relates primarily to the Group's working
capital obligations with floating interest rates. The Group is carrying its working capital borrowings primarily at variable rate.
The sensitivity analysis have been carried out based on the exposure to interest rates for loans carried at variable rate. A SO Basis
point increase or decrees represents management assessable of the reasonably possible change in interest rates.
Amounr In Rs. m Lokhs
As At As At
Particulars
31-Mar-20 31-M ar-19
Variable Rate Borrowings (current+ Non Current) 189.24 559.81
% change in interest rates 0.50% 0.50%
Impact on Profit for the year 0.95 2.80
1.2 Foreign Currency Risk
Foreign currency risk 1s the nsk that the tair value or tuture cash tlows ot an exposure will tluctuate because ot cnanges in tore1gn
exchange rates. The Group does not have significant exposure in foreign currency. The Group is mainly exposed to changes in USO
and AUD. The below table demonstrates the sensitivity to a 1% Increase or decrease rn the USO or AUD rates against INR, with all
other variables held constant. The sensitivity analysis is prepared on the net unhedged exposure of the Group as at the reporting
daJ o represen ts management's assessment of reasonably possible change in foreign exchange rate.
~i'"Lcr
~~ ~<?
* All
~
~
Amount in Rs in Lokhs
Impact on Profit before tax Impact on Profit after tax
Particulars for the year ended for the year ended
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Impact on the profit for 1% appreciation I
depreciation in exchange rate between the Indian 1.22 5.27 0.91 3.80
Rupee and USO.
Impact on the profit for 1% appreciation I
depreciation in exchange rate between the Indian 0.02 0.02 0.01 0.01
Rupee and AUD.
2 Liquidity Risk
I he t:iroup monitors its risk or a shortage ot tunds by estimating the ruture cash trows. r he <:iroup·s OOJect1ve 1s to maintain a
balance between continuity of funding and flexibility through the use of bank overdrafts, cash credit facilities and bank loans. The
Group has access to a sufficient variety of sources of funding
The table below summarises the maturity profile of the Group's financial liabilities based on contractual undiscounted payments.

Particulars Within 1 to 5 More than
Total
1 Year Year 5 Year
Borrowings 97.41 91.83 0.00 189.24
Trade Payables 512.94 0.00 0.00 512.94
Total 610.35 91.83 0.00 702.18
Particulars W1th1n 1to5 More than
Total
1 Year Year 5 Year
Borrowings 464.52 95.29 0.00 559.81
Trade Payables 303.88 0.00 0.00 303.88
Total 768.40 95.29 0.00 863.69
The above tables do not include liability on account of future interest obligations.
3 Credit Risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
financial loss. The Group is having majority of the receivables from Government Authorities, companies, or local authorities and
hence, credit losses in the future are not material.
37 Movement in Deferred Tax Assets I Liabilities for the year ended 31-March-2020
Amount in Rs. In Lokhs
Movement during the year ended on 31-3-2020

Recognised in
Tax effects of items constituting Recognised
Opening balance other Closing balance as
Deferred tax liabilities/ assets in profit and
as at 1-4-2019 comprehensive at 31-3-2020
loss
income
Property, plant and equipment 16.01 (S.85) 0.00 10.16
Provision for employee bene fits 0.00 6.06 0.00 6.06
Notes to the Standa lone Financial Statements for the year ended on 31-March-2020
Movement during the year ended on 31-3-2019
Tax effects of items constituting Recognised in
Recognised
Opening balance other Closing balance as
Deferred tax liabilities/ assets in profit and
as at 1-4-2018 comprehensive at 31-3-2019
loss
income
Property, plant and equipment 14.38 1.63 0.00 16.01
A Income tax (income) I expense recognized in the Statement of Profit and Loss
Amount in Rs in lokhs
For t he Year Ended For the Year Ended
Particulars
31-03-2020 31-03-2019
Current Tax
Current tax on profit for the year 156.30 116.00
(Excess) I Short provision of earlier periods 0.42 (0.26)
Sub Total 156.72 115.74
Deferred Tax
Deferred Tax (Other than MAT Entitlement) (0.20) (1.63)
Total 156.52 114.11
B Reconciliation of Effective Tax Rate

Particulars
31-03-2020 31-03-2019
Profit Before Tax as per Profit & Loss 520.97 400.53
Domestic Tax Rate 25.17% 27.82%
Tax thereon at Normal Rate 131.12 111.43
Effect of expenses that are not deductible in determining taxabl e profit 25.18 4.57
Deferred Tax (0.20) (1.63)
Effect of short I excess provision of tax of earlier periods 0.42 (0.26)
Income Tax Expense Recognised in profit or Joss 156.52 114.11
38 Unhedged forex exposure
The details of foreign currency exposure not hedged are as under Amount In Rs. In Lokhs
As at 31-3-2020 As at 31-3-2019
Sr. No. Particulars
Amount (INR) Foreign Currency Amount (INR) Foreign Currency
1 Loan to Subsidiaries 122.13 1,62,000 $ 527.09 7,62,000 $
2 Loan to Subsidiaries 1.85 4000 AUD 1.98 4000AUD
Notes to the Standalone Financial Statements for the year ended on 31- March-2020
39 Related Party Transactions

A List of related parties
Nature Name
Key Managerial Personnel
Managing Director 1 Mr. Paraskumar Patel (w.e f. January 27, 2020)

2 Mr. Pravlnbhai Patel (Up to January 27, 2020)
Whole-time Director
1 Mrs. Sunita Paras Patel (w.e.f. January 27, 2020)
[Woman Director]
Chief Financial Officer 1 Mr. Viral Pradipkumar Doshi (w.e.f. March 4, 2020)
2 Mr. Kirti Sankarlal Patel (w.e.r. April 24, 2019 to March 4, 2020)
Company Secretary 1 Mr. Mukesh Sohanram Chaudhary (w.e.f. August 21, 2019)
2 Ms. Ankita Lunagariya (w.e.f. March 20, 2019 to August 20, 2019)
3 Ms. Pooja Krishnakant Kadam (Up to March 20, 2019)
Non-Executive Directors
Chairman 1 Mr. Vishnukumar V. Patel {w.e.f. January 27, 2020)

Independent Director 1 Mr. Jayeshkumar Patel
2 Mr. Dilipkumar Patel
3 Mr. Paresh Patel
4 Mr. Kanjibhal Chaudhary
Woman Director 1 Mrs. Jyotsnaben Patel (up to January 27, 2020)
Subsidiaries
1 Praveg Communications USA Inc. - WOS

2 Praveg Communications AUS Pty Ltd • WOS
3 Praveg Tourism Private Limited
Joint Venture
1 Sardar Sarovar Tourism Opportunities· AOP
Relatives and Related Parties of KMP
1 Paraskumar M. Patel HUF

2 Mr. Pranay Paraskumar Patel
3 Vishnukumar V. Patel HUF
4 Mrs. Ashaben V. Patel
5 Mr. Harsh Vishnukumar Patel
6 V. V. Patel & Co { Firm)
7 V Square Projects ( Firm )
Notes to the Standalone Financia l Statements for the year ended on 31-March-2020
B Transactions with relat ed parties during t he year

Sr. For the Year Ended For the Year Ended
Particulars Name of Person I Entity
No. 31-03-2020 31-03-2019
1 Remuneration Mr. Paraskumar Patel 24.00 18.24

Mrs. Sunita Paras Patel 8.40 6.76
Mr. Viral Pradipkumar Doshi 0.65 0.00
Mr. Mukesh Sohanram Chaudhary 2.25 0.00
Mr. Kirti Sankarlal Patel 3.33 0.00
Ms. Ankita Lunagariya 1.02 0.09
Ms. Pooja Krishnakant Kadam 0.00 2.06
Mr. Pranay Paraskumar Patel 7.50 0.00
Mr. Harsh Vishnukumar Patel 7.50 0.00
2 Rent Expense Mrs. Sunita Paras Patel 7.60 7.60
Paras M. Patel - HUF 8.00 8.00
Mr. Harsh Vishnubhai Patel 8.50 8.60
Vishnu V. Patel - HUF 9.00 9.00
Mrs. Ashaben V. Patel 9.00 9.00
V Square Projects 0.00 9.00
3 Interest Expenses Mr. Vishnukumar V. Patel 3 36 3.13

Mr. Paraskumar M. Patel 2.12 1.17
Praveg Tourism Private Limited 4.98 1.34
4 Legal & Professional Charges V. V. Patel & Co 23.34 27.07
5 Advertisement Exp ense Sardar Sarovar Tourism Opportunities 30.00 0.00
6 Sponsorship Charges Sardar Sarovar Tourism Opportunities 30.00 0.00
7 Service Charges Income Praveg Tourism Private Limited 0.00 89.12
8 Loans : (Given) Praveg Communications USA Inc. 0.00 1.49
9 Loans: (Received back) Praveg Communications USA Inc. 426.29 64.70
10 Loans: (Taken) M r. Vishnukumar V. Patel 350.00 45.00

M r. Paraskumar M. Patel 160.00 80.00
11 Loans : (Repaid) Mr. Vishnukumar V. Patel 350.00 107.49

Mr. Paraskumar M. Patel 160.00 80.74
Notes to the Standa lone Financial Statements for the year ended on 31-March-2020
C Balances with related parties Amounr in Rs in Lok/os
Sr. For the Year Ended For the Year Ended

Particulars Name of Person I Entity
No. 31/03/2020 31/03/2019
1 Remuneration I Salaries Mr. Paraskumar Patel 16.30 1.52
Mrs. Sunita Paras Patel 5.85 2 45
Mr. Viral Pradipkumar Doshi 0.65 0.00
Mr. Mukesh Sohanram Chaudhary 0.50 0.00
Mr. Pranay Paraskumar Patel 130 0.00
Mr. Harsh V1shnukumar Patel 1.30 0.00
2 Rent Expense Mrs. Sunita Paras Patel 6.84 0.00
Paras M. Patel· HUF 7.20 0.00
M r. Harsh Vishnubhai Patel 7.20 7.20
Vishnu v. Patel· HUF 8.10 8.10
Mrs. Ashaben v. Patel 8.10 8.10
3 Interest Expenses Mr. Paraskumar M. Patel 0.00 1.05
Praveg Tourism Private L1m1ted 0.00 1.20
4 Legal & Professional Charges V. V. Patel & Co 21.60 0.00
5 Service Charges Income Praveg Tourism Private L1m1ted 0.00 103.38
6 Loans: (Given) Praveg Communications USA Inc. 122.13 527.09
Praveg Communications AUS Pty Ltd l.85 1.98
7 Loans: (Taken) Mr. Paraskumar M Patel 0.00 1.05
Praveg Tourism Pnvate Limited 0.00 121.20
39.l Refer note number:· 40 for note on amalgamation.
40 Amalgamation in the nature of Merger

During the year, the Scheme of Amalgamation ln the nature of Merger between Sword and Shield Pharma Limited ('Transferee
Company') (hereinafter referred to as "SSPL") and Praveg Commun1cat1ons Limited ('Transferor Company') (hereinafter referred to
as "PCL") and their respective shareholders and creditors made pursuant to a Scheme under sections 230 to 232 and other relevant
provisions of the Companies Act, 2013 ("the Scheme") which has been sanctioned by the Hon'ble National Company Law Tribunal,
Ahmedabad Bench w ith an appointed date of April 1, 2016 and the Scheme became effective on January 24, 2020 on filing lhe
certified copies of the orders sanctioning the scheme with the Registrar of Companies (RoC), whereas 1t has become operationally
effective from March 1, 2020. Pursuant to a said Scheme Praveg Communications Limited together with its holdings 1n its 3
Subsldtanes companies viz (1) Praveg Communications Aus. Pty. Ltd (2) Praveg Communications USA Inc. (3) Praveg Tourism Private
Limited has been amalgamated wit h Sword and Shield Pharma Limited. As per clause no. 7.3 (Page no. 13 of 21) of Scheme, name
of the transferee Company has been changed from Sword and Shield Pharma Limited to Praveg Communications (India) L1m1ted
(hereinafter referred to as "PCI L"). Erstwhile Company (Praveg Commun1cat1ons L1m1ted) had Joint Venture - Sardar Sarovar
Tourism Opportunities with M/s LallooJi and Sons vlde Joint Venture Agreement Dated 22 Oct, 2018. On effect of Amalgamation of
the said PCL all nghts and obligation ( Assets and Liab1llt1es) are to be treated of this company in the said JV. (Refer note no.. ·3 for
holding in Subsidiaries and Joint Venture)
The transferee company [Praveg Communications (India) L1m1ted ] was required to issue and allot 75 equity shares for each equity
share held by the shareholder of the transferor company (Praveg Communications Limited ) whose names appear 1n the Register of
Members of the transferor company on ('Record Date'). Accordingly, the Board of Directors of the Company on 24th March 2020
allotted Equity Shares to the respective shareholders of transferor companies whose names appeared 1n the Reg,ster of Members
as on the Record Date.
The scheme provided that accounting for giving effect to the Scheme of Amalgamation shall be as per the Pooling of Interest
method prescribed under Accounting Standard - 14 'Accounting for Amalgamation' prescribed under the Companies (Accounting
Standard) Ru les, 2006 as amended from time to time. Accordingly, the transferee company has recorded all the assets and l1ab1l1t1es
of the transferor company 1n its books in the same form and manner as 1t appeared 1n the books of transferor company on the
Appointed Date. Inter-company balances, if any, have been adiusted.
Erstwhile Praveg Communication Ltd ( Transferor Company) had the following Balances as on date specified.
Amount In Rs. in Lakhs
Particulars Amount as on 31- Amount as on 31- Amount as on 1-4-

3-2020 3-2019 2016
.......................................................................................................................................................................................................................................................................
Assets
. . . . . . . ... . . . . . . . . . ... . . . . . . . . . . ... . . . . . . . . ... . . . . . . . . . .... . .... . . . !. . . . . . . . . . . . . .!. . . . . . . . ... . . .

............................................................................................................................................................................................................................................................................
Non-current Assets
Property, Plant and Equipment
................................................................................................................................................ 325.00 285.71 128.08
......................................................................................................................
Other Intangible Assets 0.30 0.36 0.92
......................................................................................................................................................................................... ..............................................................................
Financial Assets
-Non Current Investment 21.17
] 3.08
]
....................................................................................................................................................................................... ....................................... .......................................
0.57
............................................................................................................................................................................................................. ....................................................
.......
Deferred Tax Assets (Net) 16.22 5. 77 3.17
......................................................................................................................................................................................................................................................................
6.95 8. 24 0.00
..Other Non Current Assets
...................................... ............................... ......................................................................... ........................................ ...................................... .......................................
~
. . . . . .... . . . . . . .... . . .... . . . . . . . . . . . . . .... .. . . . . . . . . . . . . . . . . . . . . . ...... . . . . ... . . . . . . . . . . . . . .244.28

Current Assets
Inventories
.... . . . . 1. . . .. . .... . . . . .195.76
. . .. . . .1. . . . . . . . . . . . .362.76
. . . .. . ..
' '"'°""'''H'"''''""'"'"' '""'''''' " ' '""" ' '"'"'"'"''''"'"'"'''''"'''"""""''""''' "'''' '"'' '"''""''''''"""'"'' ' ' ''""''""' ''"''' '"" ' " "' """"'' '''"'"''"' "'''"'"''''''"'""'" '""'°"'""""'"""'"''" ' ''""
Financial Assets
................................................................................................................................................................................................................ ................. .......................................
-Trade Receivables 1,292.67 782.47 470.68
......................................................................................................................................................................................................................................................................
-Cash and Cash Equivalents 243.56 94.23 8.83
................................................................................................................................................ ....................................... ....................................... .......................................
-Other Bank Balance 30.16 103.53 39.52
................................................................................................................................................................................................................................ ........................................
-Current Loans 124.04 549.20 427.89
................................................................. ............................ ............................ ...... ................. ....... ................................. ................~. ..................... ...................................... ..
-Other Financial Assets 56.57 18.78 9.33
................................................................................................................................................ ......,.................................................................................................................
Other Current Assets 109.18 129.48 137.71
................................................................................................................................................ ........................................ ....................................... ........................................
Total Assets 2,470.10 2,176.61 ........................................
.............................................................................................................................................................................................................................. 1,589.46
Equity and li abilities
... . .... . .... . . ... . . . .... . . .... . . . . . . ... . . . ... . . . . ... . . . . . . . . .... . . . . . . .!. . . . . . . . . . . . . !. . . ... . . . . . . . . .
Equity
Equity Share Capital 17.78 17.78
............................................................................................................................................................................................................................... 17.78
........................................
Other Equity 1,461.20 1,145.61 634.04
............................................................................................................................................................................................................................... ........................................
!. . . . . . . . . . . . . .!. . . . . . . . . . . . .
Non-current Liabilities
.~~~.?.~.~~~!Y~~~!.i~~~.~.................................................................................................................................................
-Non-current Borrowings 91.82 95.29 169.75
......................................................................................................................................................................................................................................................................
.~?.~~..!.~.~.~.~~?~.1.~.i.?.~~ .................................................................................................... ............................~~:.??. . ..............................9.:9.? ..............................?.:?.?..
Current Liabilities
.~!0.?.~.~~~!..~~~.~!!!~!~.~................................................................................................................................................................................................................................
..... ~~.~r.~.~~.~. ~?.~.~?.':'!.!.~~.~................................................................................................................................~...~~..........................~.~~:~.~ ..........................~.?.?.:~.~
..... ~!.r.~?.~..~~.Y.?.~.~~.~ ........................................................................................................... .........................:..~~:.?..~ .... ...................... ~.??:~.?. ......................... ~.?..~:~.:.
-Other Financial Liabilities 93.93 48.20 0.00
:~:~~~:~;:~:~~~::i:i~~i!i~i~:~::\;:~~i::::::::::::::::::::::::::::::::::::::::::::::: :::::::::::::::::::::::::::::::::::::::::::: :::::::::::::::::::::::::::~~:.:~?.: : :::::::::::::::: ::::::::::::~:;~:?. ::::::::::::::::::::::::::::~?.:~:?.

.?.~.?r.t..!.~.~.~..~~?~.i.~.i.?.~~ ..............................................................................................................................~~... ~.~ .............................~~.:?..~ ..............................?.:?.?
g~.~~~..~~.~.~.~~.~..~.i·~·~·i·~~~.i.~~............................................................................................... ........................~.?.?.:.?..~. ............................?.~.:~.?. ..........................~.~?:~.~
Total Equity and Liabilities 2,470.10 2,176.61 1,589.46
PRAVEG COMMUNICATIONS {INDIA} LIMITED
Notes to the Standalone Financia l Statements for t he year ended on 31-March-2020
The Scheme has been accounted for as per the accounting treatment approved by the NCLT read with accounting standards
prescribed under section 133 of the Companies Act, 2013. The amalgamation of PCL with PCIL (formerly SSPL) has resulted into
debit balance of capital reserve of Rs.1315.57 lakhs
The difference between the amount recorded as share capital issued by the transferee company and share capital of transferor
Company has been recognised as capital reserve as required by amalgamation scheme approved by Hon'ble NCLT.
Particulars Amount in Rs. in Lakhs

Amount of Share Capital Issued by Transferee Company 1,333.35
Amount of Share Capital of the Transferor Company 17.78
Net Amount adjusted in Capital Reserve 1,315.57
As per the scheme, the business of the transferor company shall be deemed to have been carried on by the transferor company for
and on behalf of the transferee company. Accordingly the resu lts of profit from the appointed date to effective date amounting to
Rs. 288.32 Lakhs has been adjusted to the Profit and Loss Account as on 01-04-2018.
The transferee Company prepares and presents its financial statements as per the Indian Accounting Standards prescribed under
section 133 of the Companies Act, 2013 and accordingly the income, expenses, assets and liabilities have been recognised,
measured and presented as per the Indian Accounting Standard.
41 Impact of Covid-19
The Outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of
economic activities. Measures taken to contain the spread of the virus, Including travel bans, quarantines, social distancing, and
closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic
slowdown. Holding of events and exhibitions being undertaken by the Company had been temporarily suspended during
nationwide lockdown. Business operations have been resumed in a phased manner in line with directives from the authorities
The Company has considered internal and external sources of information up to the date of approval of these standalone financia l
results, In assessing the recoverability of its trade receivables, inventories, investments in and loans given to subsidiaries, liquidity,
financial position and operations of the Company and based on the management's assessment, there 1s no material impact on the
standalone financial affairs of the Company.
Considering the uncertainties involved in estimating the impact of this force majure pandemic situation, the future impact of this
pandemic may be different from those estimated as on the date of approval of these financial affairs.

For, B. K. PATEL & CO. PRAVEG COMMUNICATIONS (INDIA) LIMITED
Chartered Accountants (Formerly Known as Sword and Shield Pharma limited)
FRN :- 112647W
CIN' ll4231GJ1~ C
~<
- -\ ~ishnukumar Pat el
Managing Director Chairman
Pa DIN :- 00467608 DIN :- 02011649
At _Q~
Membership No.039919
Mukesh Chaudhary
Chief Financial Officer Company Secretary

Date : 03-07-2020 Date: 03-07-2020

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PRAVEG COMMUNICATIONS (INDIA) LIMITED

(formerly Known as SWORD AND SHIELD PHARMA LIMITED)

Standalone Financial Statements

102, Shanti Arcade, Nr. Akash-1 11,

401-404, Vraj Valencia,

Independent Auditor's Report

REPORT ON T HE AUDIT OF T HE STANDALONE FINANCIAL STATEMENTS

BASIS FOR OPINION

KEY AUDIT MATTERS

How our audit a ddre ssed this matter : -

2) Effect of scheme of amalgamation as approved by Hon'ble NCLT

How our audit addressed this matter:-

We evaluated the appropriateness of treatment as per 'Pooling of interest' method of accounting

INFORMATION OTHER THAN THE STANDALONE FINANCIAL STATEMENTS AND

AUDITOR'S RESPONSTBILITIES FOR THE AUDIT OF THE STANDALONE FINANCIAL

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

For, B. K. PATEL & CO

MANAGEMENT'S RESPONSIBILITY FOR lNTERNAL FINANCIAL CONTROLS

MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

i. In respect of the Company's fixed assets:

Total Non-current Assets 369.64 313.40

Total Current Assets 2,109.12 1,874.89

Total Assets 2,478.76 2,188.29

II Equity and liabilities

Total Equity 1,488.83 1,174.09

(b) Long Term Provisions 16 22.00 0.00

Total Current Liabilities 876.10 918.91

Total Liabilities 989.93 1,014.20

Total Equity and Liabilities 2 478.76 2 188.29

See accompanying notes to the financial statements

Place : Ahmedabad Place : Ahmedabad

Particulars For the Year Ended on For the Year Ended on

Revenue from operations 23 5,951.79 5,911.48

Total Expenses 5,466.28 5,583.77

Profit before tax 520.97 400.53

Profit for the Year 364.45 286.42

Other Comprehensive Income 0.00 0.00

Earnings Per Equity Share (EPS)

Place: Ahmedabad Place: Ahmedabad

A. Equity Share Capital

Balance as ac 1-4-2019 545.85 57.77 37.63 (1,31!>.!> /) (674.32)

See accompanying notes to the financial statements

CA Viral Doshi Mukesh Chaudhary

Place : Ahmedabad Place : Ahmedabad

Net Profit before Tax 520.97 400.53

B Cash fl ow from Investing actlvities

Capftal expenditure on Property, plant and equipments, including Capital work in

C Cash flow from Financing activities

Proceeds from Non current borrowings 42.27 0.00

ii) Changes in liabilities arising from financing activities

Total 312.91 208.47 0.00 521.38

See accompanying notes to th e financial statements

Place: Ahmedabad Place: Ahmedabad

1 Notes to Standalone Financial Statements for the year ended 31-March-2020

(A) Corporate Information

(8) Significant Accounting Policies

Basis of preparation and presentation

(C) Summary of Significant Accounting Policies

a) Foreign currency transaction and balances

b) Property, Plant and Equipment