ATLASCYCLE2025-01-012025-03-31ATLASCYCLE2025-03-31ATLASCYCLE2024-03-31ATLASCYCLE2024-04-012025-03-31ATLASCYCLE2025-01-012025-03-31in-capmkt:OtherExpenses1MemberATLASCYCLE2024-04-012025-03-31in-capmkt:OtherExpenses1MemberATLASCYCLE2025-01-012025-03-31AuditorDomain1ATLASCYCLE2025-01-012025-03-31in-capmkt:AuditedMemberATLASCYCLE2025-03-31in-capmkt:AuditedMemberATLASCYCLE2025-01-012025-03-31in-capmkt:AdjustedMemberATLASCYCLE2025-03-31in-capmkt:AdjustedMemberATLASCYCLE2025-01-012025-03-31AuditQualification1ATLASCYCLE2025-01-012025-03-31AuditQualification2ATLASCYCLE2025-01-012025-03-31AuditQualification3ATLASCYCLE2025-01-012025-03-31AuditQualification4ATLASCYCLE2025-01-012025-03-31AuditQualification5iso4217:INRiso4217:INRxbrli:shares505029ATLASCYCLENOTLISTEDINE446A01025ATLAS CYCLES (HARYANA) LIMITEDMain BoardEquity2024-04-012025-03-312025-05-242025-05-16INRLakhsQuarterlyFourth quarterSingle segmentCYCLES2025-05-2412:15:002025-05-2413:00:00trueCash Flow IndirectStatement on impact of audit qualificationfalsefalseNANAfalsetrue2024-05-29https://www.atlasbicycles.com/policies.htmfalsefalseNA2025-01-012025-03-31AuditedStandalone367250001342000050145000199870000-18440005434000327000190800014494000403060009839000098390000000983900000009839000098390003251900051.511.51001.511.512024-04-012025-03-31AuditedStandalone1713960001165830002879790009154100001735600022733000118100017593000424490001928530009512600009512600000009512600000009512600009512600032519000525496800014.6314.630014.6314.63Other Expenses14494000Other Expenses4244900042460630000000000790000007900027090000033140000455018200020111000031754000819400001413760001004600019137000002657800023805900000478824100032519000384297100038754900003875490000000017659000017659000029880000001795780009000000012018400039018800051037200006003720002816800010463300000733173000009127510004788241000118100018169000-50550000-57900074000002260001680000-1077940000-21350000175930000-1139140000095472000002440000000-63190003480000-100631000-55050000009930000-6498000000000001494200019910000000000000000000002440000013195000000000000000118100000-118100055160000551600026770008193000AuditedQualified opinionDINESH NANGRU & Co.true2027-04-30287980000287980000192854000205037000951260008294300014.6312.754788241000478824100091275100092493400038754900003863307000The company has not provided for the interest on overdue outstanding payment of creditors including MSMEs and on suits filed by creditors in different courts. Exact quantum of liability is not ascertainable in absence of reconciliations with suppliers and balance confirmations by suppliers; however, the company has disclosed in contingent liability regarding claims of interest filed by creditors in different courts.Qualified opinionRepetitiveThe company has not provided for the interest on overdue outstanding payment of creditors including MSMEs and on suits filed by creditors in different courts as the management is confident of settlement of all outstanding dues with the vendors without payment of any interest as has already been done in the past in settlement of all IBC & other cases with the creditors. However, the company has disclosed in contingent liability regarding claims of interest filed by creditors in different courts.Not ApplicableNot ApplicableNot ApplicableThe company has not provided for deferred tax Liability/ Deferred tax asset during the year 2024-25.Qualified opinionRepetitiveDue to uncertainty of future profits, deferred tax asset has not been provided for. Not ApplicableNot ApplicableNot ApplicableThe company has defaulted in repayment of Inter Corporate Loan within stipulated time as per the agreed terms. Further, the company has not recognized interest expense on the borrowings of the company. The accumulated interest not provided as on 31st March 2025 is Rs. 4,95,00,000/- (including Rs. 99,00,000/- for the financial years 2024-25, Rs. 99,00,000/- for the financial years 2023-24, Rs. 99,00,000/- for the financial years 2022-23, Rs. 99,00,000/- 2021-22 and Rs. 99,00,000/- 2020-21, calculated at simple interest rate) which is not in accordance with the requirement of IND- AS 23; Borrowing Cost. The company has understated losses to the tune of Rs. 99,00,000/- for FY 2024-25Qualified opinionRepetitiveQualification is self-explanatory. Not ApplicableNot ApplicableNot ApplicableThe company has not provided for Statutory Audit fee during the financial year 2024-25, hence understated losses to the tune of Rs. 22,83,300/-. The accumulated Statutory Audit fee not provided as on 31st March 2025 is Rs. 1,38,83,300/- (including Rs. 22,83,300/- for the financial years 2024-25, Rs. 29,00,000/- for the financial years 2023-24, Rs. 29,00,000/- for the financial years 2022-23, Rs. 29,00,000/- for the financial years 2021-22 and Rs. 29,00,000/- 2020-21).Qualified opinionRepetitiveAudit fee expenses will be booked on cash basis.Not ApplicableNot ApplicableNot ApplicableThe company has neither exported goods nor disclosed advance against export sales as per FEMA regulations amounting Rs. 25,91,500/- in Sahibabad unit and Rs. 17,21,000/- in Sonepat unit respectively.Qualified opinionRepetitiveThese amounts are very old and unreconciled balances with buyers and reconciliations are pending.Not ApplicableNot ApplicableNot ApplicableNOT APPLICABLECHANDER MOHAN DHALLISHWAR DAS CHUGHDINESH NANGRUSAHIBABAD2025-05-24