Frotamiles Private Limited

(ClN: U530$GA2018PTC013633)

Balance Sheet as at 31 March 2024

(Rs in lakhs)
>articulars
Note 31 March 2024 31 March 2023

I. EQUTTY A'{D LIAEITITIES

(11 Shareholders' Funds
(a) Share Capital 3 10.36 10.33
(b) Reserves and Surplus 4 -609.72 -703.45
(c) Money Received against Share Warrants
Total -599.36 -693.13
(2) Share application money pending allotment

(3) Non-current liabilities

(a) Long-term Borrowings 5 6L5.24 390.53
(b) Deferred Tax Uabilities (Net)
(c) Other Long term Liabilities
(d) Long-term Provisions 6 9.93
Total 625.L7 390.53

{4) Current liabilhies

(a) Short-term Borrowings
(b) Trade Payables 7
- Due to Micro and Small Enterprises 36.7t 26.90
- Due to Others 245.47 147.16
(c) Other Current Liabilities 8 881.25 810.03
(d) Short-term Provisions 9 47.41 L6.O2
Total L,2tL.24 1,000.11
Total Equlty and Liabllltles t,2r7.os 697.5L
ASSETS
(1)Non-current assets
(a) Property, Plant and Equipment and lntangible Assets
(i) Property, Plant and Equipment 10 10.70 4.01
(ii) lntangible Assets
(iii) Capital Work-in-progress
(iv) lntangible Assets under Development
(b) Non-current lnvestments
{c) Deferred Tax Assets (net) 7L 5.8s 2.96
(d) Long-term Loans and Advances
(e) Other Non-current Assets L2 3.40 2.70
fotal 19.95
(2) Current assets
(a) Current investments
(b) lnventories
[c) Trade Receivables 13 L42,68 75.36
(d) Cash and cash equivalents 74 72.73 62.54
(e) Short-term Loans and Advances 15 1,000.54 549.94
(f) Other Current Assets 15 1.15
rotal 7,2fi.rO 687.84

fotal Assets L,237.O3 597.51

Se€ accompanyint notes to the financial statements

w
As per our report of even date
For Venu! For and on behalf of the Board of
Chartered Frotamiles Private Limited
Firm's Rei

'HRA
Venus B. Shah
Partner
Membership No. 1091
4#"
Director
08141094
Utkarsh Dabhade
Director
(r397560

Place: Mumbai Place: Mumbai

Date: 30 September 2024 Date: 30 September 2O24 Date:30 September 2024
 Frotamiles Private Limited
(ON: U63(D0GA2018PTC013633)
Statement of Profit and loss for the year ended 31 March 2024
(Rs in lakhs)

Particulars Note 31 March 2021 3l March 2023

Revenue from Operations 17 s,531.85 2,024.88

Sther lncome 18 4.38 3.87
fotal lncome 5,527.47 2,O28.75

Expenses

Sost of Material Consumed

Purchases of Stock in Trade
Change in lnventories of work in progress and finished goods
Employee Benefit Expenses t9 2@.47 L36.97
Finance Costs 20 82.L9 26.55
Depreciation and Amortization Expenses 10 3-77 3.14
Other Expenses 27 s,192.35 2,L8t.@
lotal expenses 5,487.73 2,347.66

Profit/(Loss) before Exceptional and Extraordinary ltem and Tax 39.74 -318.91
Exceptional ltem
profit/(toss) before Extraordinary ltem and Tax 39.74 -318.91
Prior Period ltem -1(r
Extraordinary ltem
Profit/(Loss) before Tax 40.80 -318.91
Tax Expenses 22
- Current Tax
- Deferred Tax -2.89 -0.19
- MAT Credit Entitlement
- Prior Period Taxes
- Excess/Short Provision Written back/off
Profit/(Loss) for the period from Continuing Operations 43.69 -118.72
Profit/(loss) from Discontinuing Operation (before tax)
Tax Expenses of Discountinuing Operation
Profit/(loss) from Discontinuing Operation (after tax)
Profit/(Loss) for the period 43.69 -1L8.72
Earnings Per Share (Face Value per Share Rs.10 each)
-Basic (ln Rs) 23 87.O9 (637.43)
-Diluted (ln Rs) 23 87.09 (637.43)

See accompanylng notes to the financial statements

As per our report of even date

For Venus Shah & Associates For and on behalf of the Board of

see w
Chartered Accountants Frotamiles Prlvate Limited
Firm's

Venus B. Sachin Bhavsar Utkarsh Dabhade

Partner Director Director
Membership No. 08141(B4 06397s60
uorru: lt{loS t tr oBX FTN 936 | 5
Place: Mumbai Place: Mumbai Place: Mumbai
Date:30 September 2A24 Date:30 September 2O24 Date:30 Septembq2O24
 Frotamiles Private Limited
(ClN: U53090GA2018PTC013633)

Cash Flow Statement for the year ended 31 March 2024

(Rs in lakhs)

40.80 -318.91

3.77 3.L4
2.84
-1.06 -
-3.95 -1.05
82.t9 26.5s
L24.53 -290.27
Profit before working capital changes

-70.15 -43.31
Trade Receivables
450.08 -330.46
Loans and Advances
0.37 -1.90
Other Current Assets
108.12 48.75
Trade Payables
80.23 47.47
Other Current Liabilities
31.79 -0.96
Short-term Provisions
9.93
Long-term Provisions

paid(Net)
Cash (Used in)/Generated from Operating Activities

of Propefi, Plant and Equipment

-10.01 -s7.12
Cash (Used in)/Generated from lnvesting Activities

50.07 300.00
from lssue of Share Capital
224.71 335.51
from Long Term Borrowings
-82.19 -25.55

Cash (Used in)/Generated from Financing Activities

lncrease/(Decrease) in Cash and Cash Equivalents
Balance of Cash and Cash
Balance of Cash and Cash Equivalents

cnrrivalcnts 31 March 2024 31 March 2023

4.31 3.35
Cash on hand
9.92 4.25
Balances with banks in current accounts
14.23 7.60
Cash and cash equivalents as per Cash Flow Statement
l{ote:
The above Cash FIow statement has been prepared under the 'lndirect Method' as set out
in the Accounting Standard 3 (As-3), "Cash Flow
Statements".

See accompanying notes to the ftnancial statements

fu per our report of even date

For and on behalf ol the Board of

\#*
Frotamiles Prfuate Limited
Chartered

Membership No. 109140

s#
Director
08141094
tltkarsh Dabhade
Director
06397560

uoru: 2.z-1 16
Place: Mumbai
S\\o BKtrTF\ 93615 Place: Mumbai Place: Mumbai

Date:30 September 2024 Date: 30 September 2024

Date: 30 September 2024
 Frotamiles Private Limited
(CIN: tr63090GA20l8PTCOl3633)
Notes forming part of the Financial Statements

COMPANY INFORMATION
Frotamiles Private Limited is a private limited company, incorporated on l0th July, 2018, domiciled in India under the provision
of the Companies Act, 2013. The Company is engaged in business of app based cab services across Goa.

, SIGNIFICANT ACCOUNTING POLTC IES

a Basis of Preparation
with the Generally Accepted Accounting Principles in tndia ('tndian
These f,rnancial statements have been prepared in accordance
GAAP') to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, as applicable. The
furancial statements have been prepared under the historical cost convention on accrual basis, except for certain financial
instruments which are measured at fair value.

Use of Estimates
Frotamiles Private Limited is a private limited company, incorporated on lOth July, 2018, domiciled in India under the provision
of the Companies Ac! 2013. The Company is engaged in business of app based cab services across Goa.

Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, less accumulated depreciation / amortisation. Costs include all expenses incurred
to bring the asset to its present location and condition.
Property, Plant and Equipment exclude computers and other assets individually costing Rs. 5000 or less which are not capitalised
except when they are part of a larger capital investrnent programme.

Depreciation and amortization

Depreciation has been provided on the Fixed Asset on the WDV method and in accordance with the useful life of tlre Asset as
prescribed under Schedule tr of the Companies Act, 2013.
Deprecation for FY 2022-23 is not provided based on the useful life of the assets and in the manner prescribed in the Schedule tr
of the Companies Act 2013. Depreciation for F.Y. 2023-24 is computed based on the useful life of the assets as per Schedule II of
Companies Act, 2013 and corresponding adjustments have been made to the previous year written down value(W.DV)

The useful life of the Assets has been taken as below;

fype of Assets Useful Life

Buildings 30 Years
Plant and Equipment 15 Years
Furniture and Fixtures 10 Years

Vehicles 8 Years
Oflice equipment 5 Years
Computers 3 Years

Investment
Long-term investments and current maturities of long-term invesments are stated at cost, less provision for other than temporary
diminution in value. Current investments, except for curr€nt maturities of long-term investuents, comprising investments in
mutual funds, government securities and bonds ar€ stated at the lower of cost and fair value.
 Frotamiles Piivate Limited
(CIN: U63090GA2018PTC013633)
Notes forming part of the Financial Statements

Cash and cash equivalents

The Company considers all highly liquid financial instruments. which are readily convertible into known amount of cash that are
subject to an insignihcant risk of change in value and having original maturities of three months or less from the date of purchase,
to be cash equivalents.

Revenue recognition
The Company recognizes revenue when or as it satisfies its obligations. The Company derives its revenues primarily from Support
servioes, Drivers' and End Users' (Riders') for receipt of on-demand lead generation and related services including facilitating
payments from end-users. The service enables Drivers and End Users to seek, receive and fulfill on-demand requests seeking
Mobility (Rides) services and related services. The Company periodically reassesses its revenue recognition policies as new
offerings become material, and business models and other factors evolve.

Employee Benefits
Post-employment benefit plans
Contributions to defined contribution retirement benefit schemes are recognised as expense when employees have rendered
services entitling them to such benefits.
For defined benefit schemes, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial
valuations being carried out at each balance sheet date. Actuarial gains and losses are recognised in full in the statement of profit
and loss for the period in which they occur. Past service cost is recognised immediately to the extent that the benefits are already
vested, or amortised on a straight-line basis over the average period until the benefits become vested.

The retirement benefit obligation recognised in the balance sheet represents the present value ofthe defined benefit obligation as
adjusted for unrecognised past service cost, and as reduced by the fair value of scheme assets. Any asset resulting from this
calculation is limited to the present value of available refunds and reductions in future contributions to the scheme.

Other employee benefits

The undiscounted amount of short-term employee benehts expected to be paid in exchange for the services rendered by employees
is recognised during the period when the employee renders the service. These benefir include compensated absences such as paid
annual leave, overseas social security contributions and performance incentives.
Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee
renders the related services are recognised as an actuarially determined liability at the present value of the defined benefit
obligation at the balance sheet date.
 Frotamiles Private Limited
(CIN; U63090GA20 I 8PTC0l 3633)
Notes forming part of the Financial Statements

Taxation
Current income t&x expense comprises taxes on income from operations in India and in foreign jurisdictions. Income taxpayable in
India is determined in accordance with the provisions of the [ncome Ta.r Ac! 1961. Tax expense relating to foreip. operations is
determined in accordance with tax laws applicable in countries where such operations are domiciled.

Deferred tax expense or benefit is recognised on timing differences being the difference between taxable income and accounting
income that originate in one period and is likely to reverse in one or more subsequent periods. Deferred tax assets and liabilities
are measured using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid and
income tax provision arising in the same tax jurisdiction for relevant tax payng units and where the Company is able to and
intends to settle the asset and liability on a net basis.
The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable right and these relate to taxes on
income levied by the same governing taxation laws.

Earnings Per Shares

Basic earning per share is computed by dividing the net proht or loss for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period. Diluted earning per share is computed by taking into
account the weighted average number of equity shares outstanding during the period and the weighted average number of equity
shares which would be issued on conversion of all dilutive potential equity shares into equity shares.

Provisions, Contingent liabilities and Contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding
retirement benefits and compensated absences) axe not discounted to its present value and are determined based on best estimate
required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the
current best estimates. Contingent liabilities are not recognised in the financial statements. A contingent asset is neither recognised
nor disclosed in the financial statements.

As per our report ofeven date

For Venus Shah & Associates For and on behalfofthe Board of

Chartered Frotamiles Private Limited

\+9*Utkarsh Dabhade
Director Director
MembershipNo. 109140 08141094 06397560
UDIN: 2t tog tAoBKF
Place: Mumbai Place: Mumbai Place: Mumbai
Date: 30 September 2024 Date: 30 September 2024 Date: 30 September 2024
 Frotamiles Private Limited
(CIN: U630$cA20l 8PTC013633)
Notes forming part of the Financial Statements

Share Ca m
Particulars 31 March 2024 3l March 2023

Authorised Share Capital

Equity Shares - Class A, ofRs. l0 each, 60000 (Previous Year -60000) Equity Shares - Class A 6.00 6.00
Equity Shares - Class B, of Rs. I 0 eac[ 60000 (Previous Year -60000) Equity Shares 6.00 6.00

Issued, Subscribed and Fully Paid up Share Capital

Equity Shares - Class A, of Rs. l0 each,53M3 @revious Year -53275)Equity Shares paid up ' 5.34 5.33
Equity Shares - Class B, of Rs. I 0 each, 50 I 70 (Previous Year -50000) Equity Shares paid up 5.02 5.00

Total 10.36 10.33

The rights, powers and preferences relating to each class of share capital and the qualifications, limitations and restrictions thereof are
contained in the Memorandum and Articles of Association of the Company.

(i) Reconciliation of number of shares

Particulars 31 March 2024 3l March 202J
Equity Shares No. ofshares (Rs in lekhs) No. ofshares (Rs in lakhs)
Opening Balance 53,275 5.33 51,250 5.13
Issued during the year 168 0,.02 2,025 0.20
Deletion
Closing balance 53,443 5.34 5327s s.33
uiff Shares - Class B
Particulars No ofshares (Rs in lekhs) No. ofshares @s in lakhs)
Opening Balance 50,000 5.00 to,y 5.00
lssued during the year 170 0.02
Deletion
Closing balance 50,170 5.02 g),000 5.00

(ii) Rights, preferences and restrictions attached to sbares

Equity Shares: The Company has two classes ofequity shares. Each shareholder is eligible fm one vote per share held. The dividend proposed
by the Board of Directors is subject to the approval of the sharreholders in the ensuing Annual Creneral Meeting except in case of interim
dividend. In the event ofliquidation, the equity shareholders are eligible to receive the remaining assets ofthe Company after distribution of
all p,referential amounts, in proportion to their shareholding.

(iii) Details of Shares held shareholders more than 57o of the shares in the com
Equity Shares Jl March 202.1 31 March 2023
Name of Shareholder No. of shares ln "/o No. of shares ln o/o

Piasys Softwares Private Limited 84,337 81.390A 8,20,000 70.t204

Mr. TapanAcharya 8,000 7.72o/a 8,000 7.7504
Mr. Santosh Patil 10,000 9.65% 10,000 9.6v4

(iv) Shares beld by Promoters at the end of the year 3l March 2024

Name of Promoter 7o Change during

Class of Shares No. of Shares 7o of total shares
the year

Pitasys Softwares Private Limited Equity Shares 84,337 81.39% 1.99/o

Mr. TapanAcharya Equity Shares 8,000 7.72% 4.03o/o
Mr. Santosh Patil Equity Shares 10,000 9.65% 4.M%
 Frotamiles'Private Limited
(CIN : U63090cA201 EPTC0r363)
Notes forming pan of the Financial Statements

Shares held by Promoters at the end of the year 3l lVlarch 2023

Name of Promoter Class of Shares No. of Shares

7o Change during
%o of total shares
the year

Pitasys Softwares Private Limited Equity Shares 82,000 79.4004 0.00%

Tapan Acharya Equity Shares 8,000 7.75o/o O.O0Yo
Mr. Santosh Patil Equity Shares 10,000 9.690/o O.O0Yo
Mr. Tapan Acharya Equity Shares 8,000 7.91o/o O.OOo/"

(v) iE shares movement durins 5 3l March 2024

Particulars Fy 2023-24 FY 2022-23 Year 3 Year 4 Year 5

Equity shares issued 338 2,025

4 Reserves and Surplus (Rs in lakhs

Particulars 31 March 2024 31 March 2023

Securities Premium
Opening Balance 399.67 99.88
Add: Issue of Shares 50.04 299.80
Closing Balance 449.71 399.67
Statement of Profit end loss
Balance at the beginning ofthe year 1,103.13 -784.41
Add: Profit(loss) during the year 43.69 -318.72
Balance at the end ofthe year -r.059.43 l,103.13

Total -609.72 -703.45

term borrow in lalrhs

Particulars 31 March 2024 3l March 2023

Unsecwed Loans and advances from related parties 179.08 1 55.54

Unsecured Other loans and advances
-OtherLoans & Advances 436.16 234.99

Total 6t5.24 390.53

term (Rs in lakhs)

Particulars 31 March 2024 31 March 2023

Provision for employee benefits

-Gratuity Payable 9.93

Total 9.93

7 Trade pavables
a (Rs in lakhs)
Particulars 31 March 2024 31 March 2023

Due to Micro and Small Enterprises 36.71 26.90

Due to others 245.47 147.16

Total 282.18 174.06

 Frotamiles Private Limited
(CIN: U63090GA2018PTC013633)
Notes forming part of the Financial Statements

7.1 Trade Payable ageinq schedule as at 3l Vlarch2024 in lakhs

Particulars Oubtanding for following periods from due date of pavment

Less than 1 year Total

1-2 years 2-3 years More than 3 years

MSME 36.71 36.71

Others 211.s5 0.23 33.69 245.47
Disputed dues- MSME
Disputed dues- Others
Sub total
282.18
MSME- Undue
Others - Undue

Total
2E2.18

7.2 Trade Payable ageing schedule as at 31 March

March 2023 in lakhs
Particulars Outstanding for following periods from due date of payment
Total
Less than I year l-2 years 2-3 years More than 3 years

MSME 26.90 26.90

0thers 113.64 33.53 147.16
Disputed dues- MSME
Disputed dues- Others
Sub total
174.06
MS ME - Undue
Others Undue

Total
114.M

8 Other current liabilities llr

Particulars 3l March 2024 3l March 2023
Statutory dues
-GST Payable -31.18 59.12
-TDS 37.28 14.47
Salaries and wages payable
-Remunaration Payable
9.35 15.35
-Salaries Payable
11.41 tl.37
-Others 0.06
Other payables
-Bank Wallet Receivables
-14.73 1 0.15
-Customer Wallet in
775.95 525.46
-EMI Batch 2 (l-42) 4.62
-EMI- First 55 Batch 4._43 0.81
-Employee Reimbursement
-0.07
-PG Monthly Refund
-1.38
-Refund Requested 76.02 t9.73
-Software & Software Services Payable 8.04 s5.02

Total 881.25 8r0.03

 Frotamiles ?rivate Limited
(CIN : U63090cA2018PTC013633)
Notes forming part of the Financial Statements

Short term m

Provision for ernployee benefits

-Gratuity Payable 0.23
-Others 5.06 i.r,
Others
-Advance Received from Customers -1.56
-Airport Cormter Payable 1.99 0.62
-Driver Welfare 18.46 0.15
-Other Provision 0.20 0.13
-Provisions 10.07 7.03
-Reimbursement A,/c 5.32 -0.r 1

-Rent Payable 0.73

-Royalty Charges Payable 5.44 2.89
-Sales Team- Incentives 0.31

fotal 47.81 16.02

 frcttm[.t trif,b litrlttd
(OxrU5eGIC 2UrlPTCOIi3l
ilc bmll| Fn ot tlE tiEttd'l St'bm'ilit

Iffifrit"nma equiP.tnt
 Frotamiles Private Limited
(CIN : U63090G A20l EPTC013633)
Notes forming part of the Financial Statements

I I Deferred tar assets (Rs in lalihs)

lPMi",rtr^-
Particulars 3l March 2024 31 March 2023

lr.r*r*
Deferred Tax 5.85 2.96

Total
lTotal s.85 2.96

I l.l Significant
ificant Components
Compor ofDeferred Tax (Rs in lakhs)
lPr.ti"rt"r^
Particulars 31 March 2024 3l March 2023

lD"f"."ua
I)eferred Tax Asset
Assel
loino*."
Difference between
between book
I depreciation and tax depreciation 3.21 2.96
IPro',ri.i on for C:ratuity
Provision Crratuit debited to PnL 2.64
lGross
Gross Deferred Tar Tax Asset (A) s.85 2.96
I

Liabi
Deferred Tax Liability
lDeferred
Tar Liability (B)
Gross Deferred Tax
lGross

lNet Tar,{Asset (A>(B)

Net Deferred Tax 5.8s 2.96

12 Other non current i (Rs in lakhs)

IF"rtt"rlr^
Particulars 3l March 2024 31 March 2023

Security Deposits
lSecurity 3.40 2.70

Total
l:rotat 3.40 2.70

l3 Trade receivables (Rs in lakhs)

Particulars 31 March 2024 31 March 2023

Secured considered good 135.60 60.39

Unsecured considered good 7.08 t4.97

Total 142.6E 7s.36

l3.l I'rade Receivables ageing sched le as at 3l lVlarch 2024 (Rs in lakhs)

Outstanding for following pe riods from due dale of pavment
Particulars Less than 6 6 months- I Total
l-2 years 2-3 years More than 3 years
months vear

Undisputed Trade receivables- 7.58 79.24 55.74 0.00 0.12 142.67

considered good
Undisputed Trade Receivables-
considered doubtful
Disputed Trade Receivables
considered good
Disputed Trade Receivables
considered doubtful
Sub total 142.67

Undue - considoed good

Total 142.67
 Frotamiles Private Limited
(CIN: U6J090G A20l EP[C013633)
Notes forming part of the Financial Statements

rade Receivables ageing schedu le as at 3l lVlarch 2023 (Rs in lakhs)

Outstanding for following periods from due date of pavment
Particulars Less than 6 6 months- I Total
1-2 years 2-3 years More than 3 years
months year

Undisputed Trade receivables- 75.36 75.36

considered good
Undisputed Trade Receivables-
considered doubtful
Disputed Trade Receivables
considered good
Disputed Trade Receivables
considered doubtful
Sub total 75.36

Undue - considered good

Total 75.36

Cash and cash equivalents (Rs in lakhs)

Particulars Jl March 2024 3l March 2023

Cash on hand 4.31 3.35

Balances with banks in current accounts 9.92 4.25

Cash and cash equivalents - total 14.23 7.60

Other Bank Balances
Deposits with original maturity for more than 12 months 58.50 54.94

Iotal 72.73 62.54

15 Short term loans and advances (Rs in lakhs)

Particulars 3l March 2024 31 March 2023

Loans and advances to related parties 764.07 241.75

Loans and advances to €mployees 1.57
Advances to suppliers 14.38 t.t2
Advance Income Tax (Net of provision for taxes) 3.71 3.19
Others
-Other Loans and Advances 218.38 302.31

Total 1.000.54 s49.94

16 Other current assets (Rs in lakhs)

Particulars 31 March 202,{ 31 March 2023

Others
-Prepaid Experses l.l5

Total 1.15
 Frotamiles Private Limited
(CIN: U63090GA20rEPTC013633)
Notes forming part of the Financial Statements

(Rs in lakhs)
17 Revenue fi
Particulars 31 March 2024 3l March 2023

5,53 1.85 2,024.88

Sale of services

5,531.85 2,024.88
Total

(Rs in lakhs)
18 Other Income
31 March 2024 31 March 2023
Particulars

3.95 1.05
Interest Income
Others
o:o'
-App Difference
0.06
-Bank Charges
0.50
-Compensation From Drivers
0.24 2.74
-Discount
-9.18
-Drivers Penalty
0.03 o.oo
-Other Incomes
-RewardsLoyalty
,:0,
0.02
-Toll Charges

-4.38 3.87
Total

(Rs in lakhs)
l9 Emplo)'ee lrenellt ex
Particulars 3l March 202,1 3l March 2023

Salaries and wages

E2.00 60.00
-Director Rernuneration
-Employee Salaries & Wages l10.62 6E.14
1.78 0.26
-Leave Encashment
-Other 4.03
0.80
-Others
Contribution to provident and other funds
14.1E 8.11
-ESIC & PF
0.12
Staffwelfare expenses

209.41 136.97
Iotal

(Rs in lakhs)
Defi ned Contribution Plan
31 March 2024 31 March 2023
Particulars
tt.43 6.58
Employers Contribution to Provident Fund
2.75 1.s3
Emolovers Contribution to Employee State Insurance

Defined Benefit Plan

(Rs in lakhs)

31 March 2024 3I March 2023

Particulars
I)afineri Elenefit Ohlioation at hesinnins of the 10.16

Defined Benefit Obligation at year end 10.I6

 Frotamiles Private Limited
(CIN: U63090G A20r8PtC013633)
Notes forming part of the Financial Statements

(Rs in takhs)
[.rpenses recogniz"ed in Profit and Loss Account 31 March 2024 31 March 202J
Particulars 10.16
Current se 10.16
Total expense recogniseclin rrortt ano

Securities
lGovernment of India
Actuarial assumPtions 31 March 2024 31 March 2023
Particulars 7.20o/o
Discount Rate 10.0001
Salary growth rate 5.0001
Withdrawal

drawn ror
to the benefit equivalent to fifteen davs salarv last
ff:f#ffi:l[:H1jil,H|il through a trust wherein evoy e,nrproyee is entitled vests after five years of
whicheveris earlier' The benefit
each completed year of service. Tne saJe
is payable on termination of s.r"ic" o, r*ir"m.,nt' of Gratuity Act'
Payrre'nt
continuous service. rn case of some employees,
ttre Entity's scherne is more f"roJl" a. cmpued to the obligarion under

1972.

(Its in lakhs)
20 Finance costs 31 March 2024 31 March 2023
Prrticulers
78.91 21.41
Interest expense 3.28 5.14
Other borowing costs
I

82.19 26.55
lTotal

62.37 1.92
2.50 2.50
3.J I

6.73 3.75
4,423.32 1,751.07
Drivers Payable 1.93 1.52
Electricity ExPenses 14.01 33.50
0.99 0.04
6.9s 0.04
14.07 24.82
360.05 9s.25
41.50 |
10.57 I

0.76 4.63

3r.31 40.63
6.01
8.98 1.85
20.00 20.00
22.38 2.3r
97.37 157.48
33.49
1.78 1.50

32.43 21.62
 Frotamiles Private Limited
(CtN: U6309(EA20rtPTC013633)
Notes forming part of the Financial Statements

22 Tar Erpenses 3l March

D-*i^'rlax
3l March 2024 2023

-2.89 -0.19
Deferred Tax

-2.89 -0.19
Iotal
in lakhs)
tho
31 March 202r 3l March 2021

-0.25 -0.19
between book depreciation and ta:< depreciation
-2.64
for crratuity debited to PnL

-2.89 -0.19
 Frotamiles Prfuate Limited
(CIni : U63090GA201EPTC013633)
Notes forming plrt of the Financial Statements

,1 shrre
st naarct 2ozll 3l llarch 2021

43.69 -318.72
Profit anrihrtable to equrty shareholders (Rs in lalfrs) 50,000
50,170
Weiglrted average number of Equity Shares - Class A (637.43)
87.09
Ernings ptr $rebasic (Rs) 87.09 (637.43)
Earnings per shue dilut€d (Rs) l0 10
Face value per equitY sharc (Rs)

in lakhs)
l4 Audttors
31 March 2024 31 llerch 2023

P.)metrts to euditor es 2.50 2.50

- Auditor

2.50 2.s0
Total

25 Related Party Disclosure

(i) List ofRelated Parties Relationship

Santosh BaPu Patil

Director
Director
Utkarsh Sudhir Dabhade
Director
Sachin Ramanlal Bhavsar
Dipak Kumar Giri Director
Atharva Hospitality Services Private Limited Common Director
Vakratund Institute of Hotel Management Private Limited Common Director
Common Director
Pitasys Software Private Limited
Mediamiles Private Limited Common Director
Senior Management
Sachin Kamble
Shareholder
Praamod Vaijnath
Shareholder
Pratrhakar NaraYan
Ramanlal Bhavsar Relative of Director

Leena Bhavsar
Relative of Director
Relative of Director
Rabramala Bhavsar
(Rs in
(ii) 31 Mrrch 2024 31 March 202J
Relationship

Software Service Purchased

47.41
- Pitasys Software Privafe Limited Common Director

LoanRepaid 53.16
49.78
- Utkarsh Sudhir Dabhade Director
522.77
CommonDirector
i - Pitasys Software Private Limited
It-oan Taken 185.78
132.76
I - uttorn Sudhir Dabhade Director
2.00
I - aotin n*rrotal Bhavsar Director
9.90
| - Ratnamala Bhavsar Relative of Director
lCommon Director i.rs
| - Pir*, Software Privue Limited 128.00 9.00
- Atharva Hospitality Services Private Limited lcommon Director
5.00
- Ramanlal Bhavsar
lRelative of Director
5.00
- Leena Bhavsar lRehtive of Director
 Frotamiles Private Limited
(CIN: U63090GA2018PTC013633)
Notes forming part of the Financial Statements

Rs in lakhs
'rrtv' Transections
RelationshiP 3l March 2024 3l March 202lll

Cortirrcd ftoaPrcYit l Fgc

16.00 12.00
- Dipak KumrGiri Directff
24.00 18.00
- SrhinRmnlal Bhr:ar Directu
42.00 30.00
- UltrshSudhirD$hdc Director
LmsGiven 135.50
Director 23.00
- Artmm Hospitrlity Servics Prire Limitcd lCommon 25.00
- PrabhdrarNraYm lShareholder

rn
(iiD Balences
3l March 2024 31 March 2023
Relationship

Loans (Liability)
23.50 128.50
- Atharva Hospitality Services Private Limited CommonDireclor
56.33 139.31
- U*arsh Sudhir Dabhade Directq
9.90
- Ratnarnala Bhavsar Relstive of Director
673.38 145.60
Common Director
| - Pitasys Software Private Limited
2.00 2.00
I - s."rri, nurrr"olal Bhavsar Directr
5.00 5.00
I - t""rru Bhavsar Relative of Director
5.00 5.00
I - Ramanlal Bhavsar Relative of Director
lr*n &od"*.es 25.00
Shareholder
I - rraarnod vaijnattr 25.00
| - PrabhakarNarayan lsn"r.notao
I
31.89
I - na.niurit , Private Limited lCommonDirector
I

(Rs in lakhs)
26 to Related Parties
3l March 2024 Jl March zuzJ

fype ofBorrower Amomt , o/o of rotrl Amount outstanding ,.

outstendirg I I "1t""'
153.E0 27.97o/a
673.38 67.3V/.
Holding Cmtpany 5.790/<
55.07 5.500A 31.82
Sister Concern

72.Btol. 18s.61 33.1501

124.45
fotal
 f,'rotamiles Private Limited
(CIN: U63090GA201 8PTC013633)
Notes forming part of the Financial Ststements

11 Ratio
liumeretor/Derominator r rr"r"n zoz+ l :t wtq429?l Change in o/"

Currmt Ass€ls
(a) Current Ratio
Current Liabilities

,:l ::j
J
Total Debts
b) Debt-Equif Ratio Sharefoolder's EquitY

Profit after Tax 4. 760/0l -85.49%

c) Renrm on EquitY Ratio
Average Shareholder's EquitY

Total Turnover 50-74 37.70 34.5 8o/o

ItO r*a" receivables tumover ratio
Average Trade Receivable

Total Turnover (36.1t) (4.31 737. 52%

l1e) Net caPitat turnover
ratio
Average Working CaPital

Nd Profit 0.79/c -15.74o/o -t 05.02o/o

f) Net profit ratio Total Turnover I

Earnine b€fore interest md tax€s n4.6Y1 -96.620/o -9O1.73o/q

l($ n"t,r- on Capital emPloYed
Capital EmPloYed
I
I

Reasons for Veriences

to lhe prwiors year
The increase in cunent asscts this year has led to a higher cunent rdio compd
The increase in Debt this year and change in Equity has led to a increas€
in Equity Debt r*io oqced to 6e previus year
Retrn m EquitY Ratio & Net Profit ratio have changed significantly'"
with a loss in the prwious year followed by a profit in the current year, the compm/s

rdio.
An increase in turnover has resulted in changes in the Trade receivable trrnover
working capital that has resulted in changes in the net capital turnover ratio'
An decrease in average

28 Disclosure where rompany has given loan or invested to other person or

entity to lend or invest in tnotb€r pcrson or entih'

or share genrium Cr any drer sornces or kind of funds)

No frrnds have been advanced o( loaned or invested (either from bmrowed firnds
persons or entities, including foreign entities (*Intermediries"), with the understanding whdher
by the Company to or in any other
or indirectly lend or invest in dher persoos or entities identified in
recorded in writing or otherwise, that the tntermediary shall, airectfy
by or on behalf of the company u provide ay guarantee' security or the like ol
any manner whatsoever (..tltimate Beneficiaries")
behalf of the Ultimate Beneficiaries.

tetrd or invesl in other person or entity

29 Disclosure where company has received fund from other person or entity to
No funds have been received by the Company from any persons or entities, including foreip entities ("Funding Parties"), with the
in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other p€rsons or
understanding whether recorded
by or m behalfofthe Funding Parties or provide any guarantee,
entities identified in any manno whatsoever ('Ultimate Benefrciaries")
security or the like on behalf of the Lntimde Beneficiaries'
 Frotamiles Private Limited
(CIN: U63090GA20I 8PTC013633)
Notes forming part of the Financial Statements

30 Other Statutory Disclosures as per the Companies Act'

2013
each to Mt. Praamod vaijnath & Mr. Prabhakar Narayan
who are shareholders of the company'
I . The company has given loans worth INR 25,00,000/-

any proceeding has been initiated m pending agains the

company for holding any Benami property'
2. The company do not have ary Benarni properly, where

struck off'
3. The Company do not have any transactions with companies period'
do not have any charges or satisfaction which is yet to be registered with RoC beyond the statutory
4. The Company
or virtual cunency during the frnancial year'
5. The Cornpany have not taded or invested in crypto currency or disclosed as incorne during the year
recorded in the books of ac"orms tnar has been surrendered
6. The company have not any such transaction which is not provisions ofthe lncome Tax Act' 1961'
or or any other relwant
in the tax assessments under the Income Tax Ac! 196l
(such as, search survey

2020 and Industrial Relations code' 2020

Govemment has published rhe code m Social s€curity,
During the previous year ended 3lst MarclL 2021 the central with employees related benefits including post
existing_tabo' and industrial laws which deals
(..the codes,) in the Gazette of India, inter ali4 ,orru*ing ,rrioos
ya to be The impact of the legislative changes, if any, will be assessed and recognised post
employment. The effective date of the code antl the rules ire
noti-fied.

notification of the relevatrt provisions'

31 RegrouPing
Figures have been regrouped wherever required'

As per our report ofeven date

For end on behelf of thc Board of
For Yenus Shah &
Frot mil6 Privrte Limited

ffi# \++# Utkarsh Datrhade

Venus B. Shah Director
Director
Partner 06397560
08141094

uonr,2r{ \o S \qOBKFT}.\S36 t 5 Place: Mumbai Place: Mumbai

Place: Mumbai Date: 30 September 2024
Date 30 September 2024
Date: 30 SePteinber 2024