Go Fashion (Indi

 

Limited {formerly known as Go Fashion (India) Private Limited}

Notes to the restated financial information
(Amount in 2 Millions, except for share data or as otherwise stated)

Note
No.

(a)

©)

©

18

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Particulars As at
‘30iSun/2021] 30/un/2020] 31/Mari2021] _31/Mar/2020| _31/Mar/2019
‘Opening balance 857.93 887.93 857.93 857.93 1,087.93
Premium on share issued during the year - :
Utilised for issue of bonus shares : (200.00)
‘Closing balance 357.93, 357.93 857.93 $57.93, $57.93,
Retained earnings*
Opening balance (Refer Note 41) Listas] 121814 1215.14 635.46 322.46
Ind AS 116 transition adjustment (Refer Note 41) 35.52
‘Add: Transfer from the statement of profit and loss (189.96) (85.98) 3539) 526.34 309.41
Addi (Less): Remeasurements of defined benefit obligations* (0.40) 0.04 178 (2:12) 3.59
Less : Dividend : : (0.05) (0.05) :
Less : Tax on dividend : : : (oon) z
‘Closing balance 991.12 | __ 1,129.22 PATIENT 1215.14 C546
Total reserves and surplus 7,849.05 |_1,987.15 2,039.41 2,073.07 7,493.39)
* Notes:

‘Securities premium account is used to record the premium on issue of shares and is utilised in accordance with the provisions of the Companies Act 2013,

Retained earnings represent the amount of accumulated earings / deficit of the Company, and re-measurement gainsilosses on defined benefit plans. The amount that can be distributed by
the Company as dividends to its equity shareholders is determined based on the separate financial statements of the Company and also considering the requirements of the Companies Act,
2013. Thus, the amounts reported above are not distributable in entirety.

 

In accordance with the notification issued by Ministry of Corporate Affairs dated 24-Mar-2021, re-measurement of defined benefit plan shall be recognised as a part of retained earnings with
separate disclosure of such item. Accordingly re-measurement of defined benefit plan has been disclosed as part of retained earnings.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision
‘Asat
30Sun2t_ | 30Sun20 | 3i/Mari2i_| 31/Mar/20_| _Si/Mar/i9
Non-current
Provision for employee benefits
Gratuity (Refer Note 37) 24.62 17.01 21.05 14.20 724
Total 24.2 1701 21.05 14.20 724
Borrowings
Particulars Asat
30Jun2t | s0Sun20 | S0/Mari2i_| 3i/Mari0_[_31/Mar/i9
Current
Secured
Cash credit from banks and financial institutions* 0.03 é 104.39 283 82.81
Current account [overdraft] : 14.16 2 25.07
Total os TH6 104.39 27.90. wa

 

= Note on Terms of current borrowings:

‘The cash credit facility from Ratnakar Bank Limited [RBL Bank’] as at 30-Jun-2021 amounting to & 350 Million (30-Jun-2020: & 200 Million) and as at 31-Mar-2021 amounting to & 350
Million (31-Mar-2020: 2200 Million, 31-Mar-2019: 2200 Million) and ICICI Bank as at 30-Jun-2021 amounting to % 300 Million (30-Jun-2020: % Nil) and as at 31-Mar-2021 amounting to
% 300 Million (31-Mar-2020: Nil, 31-Mar-2019: Nil), has been obtained for the purpose of working capital. The facility has been availed for a tenure of 12 months, and is repayable on
demand.

    

The facility is secured by way of an exclusive charge on the entire current assets and moveable fixed assets of the company, both present and future, and an unconditional and imevocable
personal guarantee of Mr. Prakash Saraogi, Mr. Gautam Saraogi and Mr. Rahul Saraogi

As at 30-Jun-2021, Interest is charged at 0.30% above | year MCLR on a monthly basis in case of RBL Bank and at 1.50% above 6 month MCLR in case of ICICI Bank.
The cash credit availed has been utilised to meet the Working Capital requirements of the company.

 

The following is the summary of the differences between Current Asset declared with the Bank and as per Audited financial statements:

 

 

[inventories as per declaration with Bank 106732 To97aT 81599 1059.89 61499
Trade Receivable as per declaration with Bank 394.25 558.38 697.62 606.5 42531
|Total (A) 1,461.57] 1,685.79 1,513.61 1,666.44 1,040.30
Inventories as per financial statement 1,043.84] 1,092.72 840.60 1,076.41 702.72
|Trade Receivable as per financial statement 389.97 539.48, 473.92 536.37 400.93
Total (B) 1,433.80 | 1,632.20 1314.52 1,632.78 1,103.65,
Difference (A)-(B) 21.77 23.59 199.09 33.66 (6335)

 

 

 

 

 

 

 

Note: The aforesaid differences are due to the declarations with Banks are made before financial reporting closure process.

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