#Performance of FY 24

[arjunvib]

KPIT Reports Q4 FY24 Results

KPIT Announced financial results for Q4 FY24 and FY24 today. KPIT clocks FY24 $ revenue growth of 40.4% and PAT growth of 56%, beating increased guidance for the year

[schizoidcel]

Would you mind doing Zooble x Gangle alphabet bs? Just trying to see more of the ship on my fy yk? (Also just to clarify, bc I feel the need to say this and bc it’s commonly misunderstood, Zooble and Gangle are both ADULTS Zooble is 22 and Gangle is about 24 or so)

# ZOOBLE x GANGLE ☆

Yes ofc. I love these 2 luvlies they own everyone

︶︶︶︶︶︶︶︶︶༉‧₊˚.

♡ FLUFF ALPHABET !!

warnings :: None except the fact that once again I didn't proofread. Also this has the old alphabet format I used

Activities - Their favourite things to do with one another is drawing, crafting, talking, literally just doing anything together or being near one another is their favourite thing to do with eachother

Boo! - Neither of them are too fond of suprises. Gangle finds them abit off putting, and Zooble finds them lowkey corny and annoying

Comfort - Gangle definitely makes it obvious that she's upset, it's definitely unintentional though, therefore Zooble knows whenever to comfort her. Though if we're speaking the other way around, Zooble dosen't like to talk about what upsets them too much, but if Gangle realizes, they'll definitely try cheering them up to the best of her abilities

Dance - I dont think neither of them are good dancers, nor like dancing that much, but Gangle definitely likes to dance secretely ..

Emotions - Gangle is more open than Zooble, but Zooble makes sure to also share their emotions with Gangle once in awhile, as to not make her worry about them

Future - Both of them are unsure, but they definitely want to keep being together after they get out one day

Gifts - Gangle definitely is the main gift giver. She loves giving Zooble things she crafted or drew, and I imagine Zoobles room also being lots of abstract things so they fit in perfectly

Hold - GODDD THEY CAN HOLD EACHOTHER SO WELL since Zoobles body is kinda a mish mash and Gangles body is very flexible thanks to the ribbons she can just wrap them around their body. It's perfect.

Ideal - Their ideal date is definitely a quiet place. I feel like both of them don't like people that much, so I think dates behind closed doors is where they're most comfortable

Jealousy - I think neither of them would get jealous that much, Gangle definitely more than Zooble, but again it's unlikely because they trust eachother alot

Kisses - Kissing is a . hard situation for both of them. While Gangle kind of has a mouth, Zooble dosen't really, so Gangle usually kisses Zooble anywhere on their head

Love - Again, mostly its gift giving for Gangle, and words of affirmation/quality time for Zooble

Melt - I think it's just when. Like whenever Zooble compliments Gangle she dies abit inside /pos

Nicknames - Gangle sometimes calls Zooble a corny nickname, and even if Zooble gets inner shivers from it, they can't help but get flustered abit everytime. Zooble also likes to call Gangle a petname only when it's them two hoheha

Obvious - The crush they have on eachother you can DEFINITELY see more clearly on Gangle than on Zooble. But you can see how Zooble gets abit more nervous when near Gangle

Pets - ... I don't really know how u could have pets in this place . But they'd definitely have a cat together

Quiet - They LOVE being in comfortable silence with eachother

Romance - Gangle is a sucker for romantic stuff in secret I feel like, though Zooble not really. But I think that both of them aren't "romantic" all that much, you get me ?? 😭

Safe - I think the fact that Zooble always stands up for themself is what makes Gangle feel so safe around them !!

Tend - While Zooble only gets slightly worried, while Gangle gets over the MOON worried whenever Zooble even gets a scratch ...

Unique - I think. Their "contradicting" personalities is what attracts them both to eachother most 💁‍♀️

Variety - I feel like Gangle would like the same old things, while Zooble is a bigger fan of trying out different stuff. So I like to think that for example, whenever they try a new thing out (like a new activity to perform), they do the same old things in eachothers room after they're done with it

Wash - Does the concept of stinking even exist in this place . Either way, both of them would be clean people, but Zooble definitely has a stricter routine than Gangle. If it were the real world, they'd so do eachothers nails

XO - Both arent a big fan of PDA. Zooble dosen't want to deal with teasing or looks, and Gangle would get too flustered, they'd rather have eachother for themselves privately

Yearn - I think when they miss eachother, they don't show it that much, as much as they want to feel eachothers presence

Zzz - Like I said back in the cuddling point, they definitely sleep like that whenever they sleep together. They're adorbs

︶︶︶︶︶︶︶︶︶༉‧₊˚.

ׂૢ་༘࿐ Thank you for reading! ♡

I tried my best wit this. hope u likesy luv 🌚

[responsible-us]

Uniphos Enterprises Limited Releases Business Responsibility and Sustainability Report for FY 2023-24

UEL is a leading player in trading in chemicals and agro-commodities. It has released its Business Responsibility and Sustainability Report (BRSR) for the fiscal year 2023-24. The report, presented in conformity with SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, reflects the company’s initiative regarding ethical governance, environmental care, and social responsibility.

Overview: In an era where corporate accountability runs parallel, UEL’s BRSR 2023-24 reflects the commitment of UEL towards sustainability and responsible business behavior. The report epitomizes salient features of the company’s operations, best governance practices, and environmental impact, focusing on core values related to excellence, integrity, respect, and collaboration.

Body UEL was incorporated in 1969 and is essentially a trading company. A large portion of the turnover consists of trading in chemicals and agro commodities. For FY 2023–24, revenue from trading operations contributed 54.16%, while income from investments in equity shares and mutual funds contributed 42.26% of revenue.

The company is headquartered in Mumbai with regional offices based in Gujarat. Its staff is on deputation, with only a small number being UEL recruits; it has taken important steps in maintaining gender diversity—one-third of the members on the Board of Directors comprise women.

The report enumerates corporate governance practices in which UEL has also ensured the whistleblower policy to get grievances over and above transparency. UEL further states its due compliance with regulatory requirements, as amply evidenced by the reaction of the company to a minor delay in the regulatory filings for which the waiver of the fine was sought from stock exchanges.

Although UEL is not a manufacturing company, the report reflects the concern of the company regarding environmental sustainability. The environmental impact of UEL is very minimal, as the company consumes limited amounts of energy only and does not produce much waste that is considered harmful to the environment. The sustainability practice at UEL is mainly limited to ensuring full compliance with environmental laws and regulations, and operations are performed in a manner to ensure no adverse impact on the environment.

From the viewpoint of social responsibility, the activities of UEL are restricted to its scale of operation; however, the company maintains a conducive and non-threatening workplace. It is pointed out in the report that UEL follows the Rights of Persons with Disabilities Act, 2016, providing accessibility in offices and non-discrimination in employment.

UEL’s commitment to doing good business is further reflected in its anti-bribery and anti-corruption policies, although the company has not adopted a stand-alone anti-corruption policy; rather, the principles are encapsulated within its general code of conduct meant for all employees and major vendors.

Overview The Business Responsibility and Sustainability Report for FY 2023-24 underlines the commitment of Uniphos Enterprises Limited to promote the gold standard in corporate governance, care for the environment, and observe social responsibility. Though the operation of the company remains limited within the scope mentioned, its commitment remains toward responsible business practices. While moving forward with challenges in the modern business landscape, UEL remains focused on aspects related to sustainability, transparency, and ethical conduct and sets a good example for such categories of companies.

Source: BRSR Credit: Uniphos Enterprises Limited

[news365timesindia]

[ad_1] Indian Renewable Energy Development Agency Ltd. (IREDA) has announced its financial results for the third quarter of FY 2024-25, showcasing significant growth across key financial metrics. As the nation’s largest pure-play Green Financing NBFC, IREDA has once again set industry standards by publishing its Quarterly Audited Financial Results within just 9-days. This milestone positions IREDA as the only corporate to publish Audited Financial Results within 9-days period. The Board of Directors of IREDA, during a meeting held today, acknowledged the company’s outstanding performance and approved the Financial Results for Q3 FY 2024-25. Key Highlights of Q3 FY 2024-25: Revenue from Operations: Achieved ₹1,698.99 crore, 35.57% increase compared to ₹1,253.20 crore in Q3 FY 2023-24 Profit Before Tax (PBT): Stood at ₹538.20 crore, marking a growth of 39.38% from ₹386.14 crore in the corresponding quarter of the previous fiscal year Profit After Tax (PAT): Recorded ₹425.37 crore, reflecting 26.77% rise from ₹335.54 crore in Q3 FY 2023-24 Loan Sanctions: Amounted to ₹13,226.81 crore, a remarkable 45.01% growth compared to ₹9,121.11 crore in Q3 FY 2023-24 Loan Disbursements: Reached ₹7,448.96 crore, up by 25.27% from ₹5,946.45 crore in the same period last year Loan Book: Expanded to ₹68,959.61 crore, showing a 36.34% increase compared to ₹50,579.67 crore in Q3 FY 2023-24 Net Worth: Strengthened to ₹9,842.07 crore, registering a 20.99% growth from ₹8,134.56 crore in Q3 FY 2023-24 Earnings Per Share (EPS): Improved to ₹1.58, growing by 15.03% from ₹1.38 in the same quarter of the previous fiscal. Commenting on the results, Pradip Kumar Das, CMD, IREDA, said, “Our outstanding performance in Q3 FY 2024-25 reflects IREDA’s steadfast commitment to accelerating India’s renewable energy transition. The significant growth in loan sanctions, disbursements, and the expansion of our loan book highlight our pivotal role in financing sustainable energy projects. With a robust financial position and strong profitability as evidenced by our PAT, IREDA remains well-poised to drive the nation’s green energy ambitions forward.” Das also expressed his appreciation for Team IREDA for their unwavering dedication and excellence in achieving these milestones. He further extended his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shripad Naik, Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their continued support and invaluable guidance. [ad_2] Source link

[news365times]

[ad_1] Indian Renewable Energy Development Agency Ltd. (IREDA) has announced its financial results for the third quarter of FY 2024-25, showcasing significant growth across key financial metrics. As the nation’s largest pure-play Green Financing NBFC, IREDA has once again set industry standards by publishing its Quarterly Audited Financial Results within just 9-days. This milestone positions IREDA as the only corporate to publish Audited Financial Results within 9-days period. The Board of Directors of IREDA, during a meeting held today, acknowledged the company’s outstanding performance and approved the Financial Results for Q3 FY 2024-25. Key Highlights of Q3 FY 2024-25: Revenue from Operations: Achieved ₹1,698.99 crore, 35.57% increase compared to ₹1,253.20 crore in Q3 FY 2023-24 Profit Before Tax (PBT): Stood at ₹538.20 crore, marking a growth of 39.38% from ₹386.14 crore in the corresponding quarter of the previous fiscal year Profit After Tax (PAT): Recorded ₹425.37 crore, reflecting 26.77% rise from ₹335.54 crore in Q3 FY 2023-24 Loan Sanctions: Amounted to ₹13,226.81 crore, a remarkable 45.01% growth compared to ₹9,121.11 crore in Q3 FY 2023-24 Loan Disbursements: Reached ₹7,448.96 crore, up by 25.27% from ₹5,946.45 crore in the same period last year Loan Book: Expanded to ₹68,959.61 crore, showing a 36.34% increase compared to ��50,579.67 crore in Q3 FY 2023-24 Net Worth: Strengthened to ₹9,842.07 crore, registering a 20.99% growth from ₹8,134.56 crore in Q3 FY 2023-24 Earnings Per Share (EPS): Improved to ₹1.58, growing by 15.03% from ₹1.38 in the same quarter of the previous fiscal. Commenting on the results, Pradip Kumar Das, CMD, IREDA, said, “Our outstanding performance in Q3 FY 2024-25 reflects IREDA’s steadfast commitment to accelerating India’s renewable energy transition. The significant growth in loan sanctions, disbursements, and the expansion of our loan book highlight our pivotal role in financing sustainable energy projects. With a robust financial position and strong profitability as evidenced by our PAT, IREDA remains well-poised to drive the nation’s green energy ambitions forward.” Das also expressed his appreciation for Team IREDA for their unwavering dedication and excellence in achieving these milestones. He further extended his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shripad Naik, Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their continued support and invaluable guidance. [ad_2] Source link

[indiaiposervices]

Dhanlaxmi Crop Science Ltd IPO | India IPO

Incorporated in 2005, Dhanlaxmi Crop Science has emerged as a prominent player in the agricultural sector. As a technology-driven seeds company, Dhanlaxmi Crop Science focuses on the development, production, processing, and sale of seeds for a diverse range of field crops and vegetables. The company employs a blend of traditional breeding techniques and cutting-edge biotechnological tools to create hybrid and open-pollinated seed varieties. These seeds are designed to deliver higher yields, improved product quality, and increased tolerance to pests and diseases compared to naturally occurring varieties. As of March 31, 2024, Dhanlaxmi Crop Science has expanded its operations to produce seeds for 24 different crops and vegetables, catering to the needs of farmers across five states in India. The company's dedication to innovation and quality has positioned it as a trusted partner in the agricultural community. Among the numerous seeds in its product portfolio, cotton seeds stand out as a significant contributor to the company's financial success. Impressively, the sale of cotton seeds accounted for 76.78% of the operating profit in the fiscal year 2024. This trend of strong performance continued in previous years, with cotton seed sales contributing 71.47% and 64.73% to the operating profit in FY 2023 and FY 2022, respectively.

Viti Us:-

https://indiaipo.in/Dhanlaxmi-Crop-Science-Ltd-IPO

[forblogmostly]

Financial Milestones: Bhatia Communications & Retail (India) Limited Reports for Q2 FY 2024-25

Bhatia Communications & Retail (India) Limited, a prominent player in the retail and communications sector, recently announced the outcomes of its Board Meeting held on November 13, 2024. The meeting, which took place at the company’s registered office in Surat, Gujarat, shed light on the company’s financial performance and key decisions for the quarter and half-year ending September 30, 2024.

The meeting commenced at 4:00 PM and concluded at 5:05 PM, with significant updates delivered by the Managing Director, Sanjeev Harbanslal Bhatia. This pivotal gathering marked a notable step in the company’s strategic journey for the financial year 2024-25.

Highlights of the Board Meeting

The Board of Directors approved the unaudited standalone financial results for the quarter and half-year ended September 30, 2024. A limited review report prepared by RPR & Co., Chartered Accountants, was also presented alongside the financial data.

One of the most remarkable decisions was the declaration of the second interim dividend for the financial year. Shareholders holding equity shares as of November 27, 2024, will receive a dividend of Re. 0.01 per equity share (1% of face value). This reinforces the company’s commitment to sharing its growth with investors.

Financial Performance Overview

The financial results showcased an impressive trajectory in revenue generation and profit growth:

Revenue from Operations: For Q2 FY 2024-25, revenue stood at ₹10,732.22 lakhs, showing a steady increase from the preceding quarter's ₹10,481.86 lakhs and a substantial rise from ₹9,435.58 lakhs recorded in the same period last year.

Net Profit: The profit after tax for the quarter reached ₹365.75 lakhs, compared to ₹364.56 lakhs in Q1 FY 2024-25 and ₹247.33 lakhs in Q2 FY 2023-24. This represents a year-on-year growth fueled by strategic cost management and robust operational efficiencies.

Dividend Announcement

The second interim dividend of Re. 0.01 per equity share reflects the company’s resilience and dedication to rewarding its investors. Shareholders listed in the records of NSDL and CDSL as of November 27, 2024, are entitled to this dividend.

Auditor’s Review

The independent review by RPR & Co. confirmed that the unaudited financial results are free from material misstatements and adhere to applicable accounting standards. The report emphasized that the financial statements provide a true and fair view of the company's performance, reinforcing investor confidence in the transparency of Bhatia Communications & Retail.

Operational Efficiency

The company displayed operational robustness by effectively managing inventory and controlling costs. A notable reduction in inventory holding costs and strategic investments in infrastructure contributed to the financial outcomes.

Looking Ahead

As Bhatia Communications & Retail (India) Limited continues to expand its footprint in the retail and communication sector, the company remains committed to delivering value to its shareholders and stakeholders. With a strategic approach to growth and sustainability, it aims to maintain its trajectory of financial and operational excellence.

This latest board meeting and the accompanying financial results set a strong foundation for the remaining quarters of the financial year, paving the way for continued success.

[bllsbailey]

Repeated Failures Govern Harris - Opinion By Deroy Murdock

For Kamala Harris, failure is not an option. It is a governing principle.

President Joe Biden has delegated at least four key responsibilities to his vice president.

On each one, she has belly flopped hard enough to empty an Olympic swimming pool.

Border Czarina:

"I’ve asked her, the VP, today . . . to lead our diplomatic effort and work with those nations to accept the returnees, and enhance migration enforcement at their borders," Biden said about Kamala at a March 24, 2021 White House ceremony.

"When she speaks, she speaks for me," Biden added.

"She knows what she’s doing, and I hope we can move this along."

Defying Biden’s urgency, Kamala did not visit the U.S.-Mexico border until that June 25, three months after being crowned border czarina. After shirking her duties, Czarina Kamala made her second, box-checking border journey last Sept. 27.

In the intervening 39 months, southern-boundary conditions deteriorated dramatically:

These inexcusable border conditions may be viewed in detail here.

•Since February 2021, the first 42 months of Kamala’s rule saw illegal-alien incursions on the U.S.-Mexico frontier soar from 2,450,167 under Donald J. Trump’s like period to 8,326,109 — up 339.8%.

•Add 1,664,203 detected-but-uncaught "known gotaways" from Fiscal Year 2021 through FY 2023 (versus 384,439 from FY 2017 through FY 2019 under Trump — up 432.9%), and the number of illegal aliens who invaded America under Kamala rises to at least 9,990,312.

This excludes "unknown gotaways," who went unseen and uncaptured.

•During Trump’s tenure, 11 illegal aliens on the terrorist watch list were nabbed at the border. On Kamala’s watch: 382 such illegals got caught — up an explosive 3,472%.

•Tsarina Kamala lost 323,000 illegal-alien children. Where are these unaccompanied minors? Who knows? Monsters, quite literally, are exploiting thousands of them as slaves in sweatshops.

Even worse, boys and girls are raped routinely as sex slaves.

•The Centers for Disease Control estimate that from FY 2021 through FY 2023, fentanyl (usually smuggled across Kamala’s obliterated "border") fatally poisoned 222,166 people in America, including those who thought they had consumed legitimate drugs.

•Maria Gonzalez, Jocelyn Nungaray, and Rachel Morin are just three among many whom police say illegal aliens have killed.

Even President Bill Clinton conceded that Laken Riley, a murdered Georgia nursing student, is a victim of Kamala’s no-border policy.

On Oct. 13, Clinton told Peach State voters about Riley, "a young woman who had been killed by an immigrant," allegedly José Ibarra, a Venezuelan illegal alien who broke into America in September 2022, on Kamala’s watch.

Ibarra reportedly is tied to the deadly Tren de Aragua gang. Clinton added, "If they’d all been properly vetted, that probably wouldn’t have happened."

•The Federation for American Immigration Reform estimated in March 2023 that coddling illegal aliens costs local, state, and federal taxpayers $150.7 billion annually.

Broadband Czarina

During an April 28, 2021, joint session of Congress, Biden unveiled a rural-broadband initiative. "I’m asking the vice president to lead this effort," Biden said, "because I know it will get done."

No such luck.

"It appears that your performance as 'broadband czar' has mirrored your performance as 'border czar,'" nine U.S. senators wrote Kamala, including Marsha Blackburn of Tennessee, Texas’ Ted Cruz, and Nebraska’s Deb Fischer.

Their Sept. 18 letter continued, "Under your leadership, not a single person has been connected to the internet using the $42.45 billion allocated for the BEAD program."

That’s right: Despite Biden’s Nov. 15, 2021, signature, not one American has been hooked up via the Broadband, Equity, Access, and Deployment (BEAD) plan, even after 34 months and more than 42 billion taxpayer dollars.

As the senators explained, "burdensome climate change mandates," have stymied progress. So have a nine-step review process and a requirement that participating employers give preference to "individuals with past criminal records." Consequently, Politico reports, "No actual construction projects are expected to begin until at least 2025."

Bridge-building Tsarina

Biden sent Kamala to the February 2022 Munich Security Conference.

Goal: Project sufficient U.S. and allied strength to deter Russia from attacking Ukraine.

Vice-presidential scholar Joel Goldstein told CNN, "I think this is certainly the most significant mission yet of her vice presidency."

The Bridge-building czarina said at the Hotel Bayerischer Hof that Feb. 19, "sovereignty and territorial integrity of all states must be respected" and "national borders should not be changed by force."

Five days later, Russia invaded Ukraine.

Bus Czarina

Kamala and the EPA have pushed the Clean School Bus program since September 2022.

As Thomas Catenacci reported in July 19’s The Washington Free Beacon, this boondoggle deployed $965 million to ship 2,463 electric school buses (ESBs) to 389 school districts.

Two years later, just 60 green buses serve only 27 districts; 55 districts have fled the program.

The House Energy and Commerce Committee reported last month that diesel-fueled school buses typically cost $100,000.

ESBs average $381,190.

This nearly 400% higher expense, limited driving range, and poor cold-weather performance have flattened the tires on Kamala’s fantasy vehicles.

Beyond dispute, Kamala Harris is the czarina of failure.

Deroy Murdock is a Manhattan-based Fox News Contributor. Read Deroy Murdock's Reports — Read More Here.

© 2024 Newsmax. All rights reserved.

[taxblgs]

Income Tax Audit under Section 44AB: Criteria, Audit Report, and Penalty

Before diving into what a tax audit entails, let’s first clarify the term “audit.” An audit is defined as an official inspection of an organization’s accounts, typically performed by an independent entity. It involves a systematic review or assessment of various aspects of a business.

Latest Update: Extended deadline for tax audit

The Income Tax Department has recently extended the deadline for filing the audit report for the financial year 2023–24 by 7 days, moving it from September 30 to October 7, 2024. This extension is aimed at addressing the challenges taxpayers have faced with the electronic income tax portal.

What is a Tax Audit?

A tax audit is a specific examination of the accounts of a business or profession from an income tax perspective. It simplifies the process of income computation for filing tax returns. The income tax law mandates tax audits for certain taxpayers based on their financial activities.

OBJECTIVES OF A TAX AUDIT

The main objectives of conducting a tax audit include:

1. Accuracy Verification:Ensuring proper maintenance and correctness of books of accounts, certified by a Chartered Accountant (tax auditor). 2. Discrepancy Reporting: Noting any discrepancies observed during the audit of the books of accounts. 3. Regulatory Compliance: Reporting essential information such as tax depreciation and adherence to income tax laws.

These objectives help tax authorities verify the accuracy of income tax returns filed by taxpayers, making the assessment of total income and claims for deductions more straightforward.

Turnover Limit for Tax Audits

Taxpayers are required to undergo a tax audit if:

- Business Turnover: Sales, turnover, or gross receipts exceed Rs 1 crore in a financial year. - Professional Receipts: Gross receipts exceed Rs 50 lakhs

However, amendments made in the Finance Act 2021 raised the threshold for tax audits to Rs 10 crores if cash transactions do not exceed 5% of total transactions.

Categories of Taxpayers Mandated for Audit

Category Turnover Limit Business (non-presumptive

Exceeds Rs 1 crore

Business (presumptive) Claims lower profits than prescribed Profession Gross receipts exceed Rs 50 lakhs Business Loss Exceeds Rs 1 crore

Audit Report Requirements

A tax auditor must furnish the audit report in specific formats:

Form 3CA: For businesses or professions already mandated to be audited under another law. - Form 3CB: For those not required to be audited under other laws. - Form 3CD: Contains particulars related to the audit report.

Important Dates

- The last date for completing the income tax audit is October 7, 2024 for FY 2023–24. - For taxpayers involved in transfer pricing audits, the deadline extends to October 31, 2024.

Filing the Tax Audit Report

Tax audit reports must be submitted online by the auditor using their login credentials. After submission, the taxpayer can either accept or reject the report in their portal. If rejected, the process must be repeated until acceptance.

Consequences of Non-Compliance

Failing to conduct a mandatory tax audit can result in penalties, including:

- 0.5% of total sales, turnover, or gross receipts. - A flat fee of Rs 1.5 lakh

Penalties may be waived if the taxpayer can demonstrate a reasonable cause for non-compliance, such as natural disasters or significant employee turnover.

Conclusion

Understanding the intricacies of tax audits is essential for taxpayers. By ensuring compliance, you not only avoid penalties but also simplify your tax filing process. If you have questions or need assistance with your tax audit, consider consulting with a tax professional..

Related articles: Income tax audit u/s 44ab , http://Books of account 44aa , How to file Belated return if you missed ITR deadline?

Frequently Asked Questions About Income Tax Filing and Audits

Q. What is an income tax audit under Section 44AB?

Ans.A tax audit under Section 44AB is conducted by a Chartered Accountant to verify an entity’s books of accounts when gross receipts exceed specified limits

Q. What documents are typically audited?

Ans.Commonly audited documents include cash books, ledgers, bank statements, and sales/purchase invoices.

Q. What if I miss the tax audit deadline?

Ans.Failure to comply may attract penalties as described above, making it crucial to adhere to deadlines.

[thecountydiary]

Kitui County Ranks 3rd Best in Policy Development for FY 2023/24

Kitui County has emerged as the third best county in Kenya out of 47 in the financial year 2023/24 for its outstanding performance in policy development and sharing. This recognition was awarded by the Kenya Institute for Public Policy Research and Analysis (KIPPRA), which highlighted Kitui’s exemplary efforts in contributing to the public policy repository. The award was received by the County…

[arjunvib]

KPIT Reports Q2 FY24 Results announced today

KPIT Technologies, a leading global technology company, has announced its financial results for the fourth quarter of fiscal year 2024 - KPIT Q4 FY24 Results. 

The company reported strong revenue growth, with a 12% increase compared to the previous quarter, reaching ₹121.2 crores. Additionally, KPIT's EBITDA margin expanded to 13.1%, reflecting operational efficiency and effective cost management strategies. This performance underscores KPIT's continued success in delivering innovative solutions and services to its global clientele across various industries. 

As KPIT continues to focus on driving sustainable growth and fostering technological innovation, it remains well-positioned to capitalize on emerging opportunities in the evolving digital landscape.

Summary:

KPIT Reports Q2 FY24 Results - KPIT News | CC revenue growth of 51.7% Y-o-Y | Upgrades revenue guidance to 37%+, EBITDA margin guidance to 20%+ - KPIT

[finowing]

Is ECO Mobility IPO Overvalued? A Detailed Financial Analysis

ECO Mobility IPO is a Mainboard IPO, raising Rs. 601.20 crore (18,000,000 shares) through ECOS (India) Mobility & Hospitality Ltd., a company established in February 1996. It began by offering chauffeur-driven automobile rentals in India and has since grown to become the largest and most profitable provider of chauffeur-driven mobility services for businesses in India as of Fiscal 2023.

The company specializes in Employee Transportation Services (ETS) and Chauffeured Car Rentals (CCR), serving a wide range of clients, including Fortune 500 companies in India. By March 31, 2024, ECO Mobility operated in 109 cities across India, covering 21 states and 4 union territories, showcasing its extensive reach. The company fulfilled the CCR and ETS needs of over 1,100 Indian organizations in Fiscal 2024 and completed over 3,100,000 trips, averaging over 8,400 trips per day.

With a fleet of over 12,000 vehicles, including luxury, compact, and specialty models, ECO Mobility serves a diverse clientele, including big names like Indigo, HCL Corporation, Safexpress, and Urban Company. The company is set to launch its IPO from August 28 to August 30, 2024, with a price band between Rs. 318 to Rs. 334 per share.

Key Financials

Revenue (FY 2024): Rs. 568.21 crore

PAT (FY 2024): Rs. 62.53 crore

Total Assets (FY 2024): Rs. 296.66 crore

Net Worth (FY 2024): Rs. 177.41 crore

EBITDA (FY 2024): Rs. 89.96 crore

IPO Details

Total Issue Size: 18,000,000 Shares (Rs. 601.20 crore)

Allocation: 35% retail investors, 50% institutional investors, 15% non-institutional investors

Listing Date: September 04, 2024

Listing on: BSE, NSE

Evaluation & Analysis

The ECO Mobility IPO's P/E ratio is calculated at 32.05x, which is higher than the industry average of 22.28x, suggesting an overvaluation. Investors should consider this when evaluating the IPO, especially in comparison to listed peers.

Strengths

Market leader in chauffeur-driven mobility services.

Strong client base with long-standing relationships.

Robust financial performance and extensive geographic reach.

Weaknesses

Heavy reliance on vendor partnerships for vehicles and chauffeurs.

Potential risks from competitive pressures and reliance on GCCs.

IPO GMP (As of August 24, 2024)

Current GMP: Rs. 51

Estimated Listing Price: Rs. 385

The ECO Mobility IPO presents a significant investment opportunity, but investors should carefully evaluate the pricing in relation to the industry average P/E ratio.

[financesaathi]

IRFC, Vodafone Idea, and Other Major Companies Set to Report Q1 Results Today

Today is a pivotal day on Dalal Street as the earnings season reaches its peak, with more than 500 companies scheduled to announce their Q1 results. Among the notable companies reporting today are Indian Railway Finance Corporation (IRFC), Vodafone Idea, Alembic, Balrampur Chini Mills, Bajaj Hindusthan Sugar, Happiest Minds Technologies, NCC, and NMDC.

IRFC’s Performance

Indian Railway Finance Corporation (IRFC) is particularly in focus as it unveils its Q1 FY 25 results. The company had reported a 6.3% decline in net profit during Q1 FY 24, amounting to ₹1,556.6 crore. Investors are keen to see how the company has fared in the current fiscal year and whether it has managed to reverse its previous downturn.

IRFC’s IPO was launched on January 18, 2021, with the company getting listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on January 29, 2021. This marked a significant milestone for IRFC, transitioning it from a public sector undertaking to a publicly traded company, which opened new avenues for capital raising and market engagement.

Other Major Announcements

In addition to IRFC, Vodafone Idea and Alembic are among the high-profile companies reporting their Q1 performance. Other companies to watch include Balrampur Chini Mills, Bajaj Hindusthan Sugar, and Happiest Minds Technologies. These reports are crucial for investors seeking to understand sectoral trends and the overall economic health.

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[ad_1] Indian Renewable Energy Development Agency Limited (IREDA) has achieved ‘Excellent’ rating for the performance MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, with a score of 98.24 (rounded off 98). This marks the fourth consecutive year that IREDA has received ‘Excellent’ rating, showcasing its unwavering commitment to operational excellence and highest standards of corporate governance. In the previous three years, IREDA consistently delivered exceptional results, achieving an ‘Excellent’ rating with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22 and 96.93 in FY 2020-21. These consistent achievements underline the organization’s dedication to driving India’s renewable energy goals. Speaking on the achievement, Pradip Kumar Das, CMD, IREDA, said, “Securing the ‘Excellent’ rating for the fourth consecutive year is a significant milestone for IREDA. It reflects the tireless efforts of our employees, the unwavering trust of our stakeholders, and the guidance of the Govt. of India. I extend my heartfelt gratitude to all who have contributed to this success. Together, we are committed to accelerating India’s green energy transition and achieving our nation’s renewable energy goals.” CMD, IREDA, also expressed his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their support and invaluable guidance. [ad_2] Source link

[news365times]

[ad_1] Indian Renewable Energy Development Agency Limited (IREDA) has achieved ‘Excellent’ rating for the performance MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, with a score of 98.24 (rounded off 98). This marks the fourth consecutive year that IREDA has received ‘Excellent’ rating, showcasing its unwavering commitment to operational excellence and highest standards of corporate governance. In the previous three years, IREDA consistently delivered exceptional results, achieving an ‘Excellent’ rating with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22 and 96.93 in FY 2020-21. These consistent achievements underline the organization’s dedication to driving India’s renewable energy goals. Speaking on the achievement, Pradip Kumar Das, CMD, IREDA, said, “Securing the ‘Excellent’ rating for the fourth consecutive year is a significant milestone for IREDA. It reflects the tireless efforts of our employees, the unwavering trust of our stakeholders, and the guidance of the Govt. of India. I extend my heartfelt gratitude to all who have contributed to this success. Together, we are committed to accelerating India’s green energy transition and achieving our nation’s renewable energy goals.” CMD, IREDA, also expressed his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their support and invaluable guidance. [ad_2] Source link