Indo US Bio-Tech Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

XIV Provisions, Contingent Liabilities and Contingent Assets

(i) Provision is recognized in the accounts when there is a present obligation as a result of
past event(s) and it is probable that an outflow of resources will be required to settle the
obligation and a reliable estimate can be made. Provisions are not discounted to their
present value and are determined based on the best estimate required to settle the
obligation at the reporting date. These estimates are reviewed at each reporting date and
adjusted to reflect the current best estimates.

(ii) Contingent liabilities are 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 or 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.

(iii) Contingent assets are neither recognized nor disclosed in the financial stafements.

XV Employee Benefits

Liability as at the year end in respect of retirement benefits is provided for and charged to
Statement of Profit and Loss as follows:

i) Retirement benefit costs and termination benefit

The Company determines the present value of the defined benefit obligation and
recognizes the liability or asset in the balance sheet. The present value of the obligation is
determined using the projected unit credit method, with actuarial valuations being carried
out at the end of each year.

Defined benefit costs are composed of:

(a) service cost - recognized in profit or loss; service cost comprises (i) current cost which is
the increase in the present value of defined benefit obligations resulting from employee
service in the current period, (ii) past service cost which is the increase in the present value
of defined benefit obligations resulting from employee service in the prior periods resulting
from a plan amendment, and (iii) gain or loss on settlement.

(b) remeasurements of the liability or asset - recognized in other comprehensive income.

(c) remeasurements of the liability or asset essentially comprise of actuarial gains and losses
(i.e. changes in the present value of defined benefit obligations resulting from experience
adjustments and effects of changes in actuarial assumptions).

Short-term benefits: A liability is recognised for benefits accruing to employees in respect of
wages and salaries and other short term benefits in the period the related service is
rendered at the undiscounted amount of the benefits expected to be paid in exchange
for that service.

Other long-term benefits: Liabilities recognised in respect of ofher long-ferm employee
benefits are measured at the present value of the estimated future cash outflows expected
to be made by the Group in respect of services provided by employees up to the reporting
date.

ii) Bonus

The company recognises a liability and expense tor bonus. The company recognises a
provision where contractually obliged or where there is past practice that has created a
constructive obligation.

XVI Borrowing Cost

Borrowing costs directly attributable to the acquisition, construction or production of
qualifying assets, which are assets that necessarily take a substantial period of fime to get
ready for fheir intended use, are added to the cost of those assets, until such time as the
assets are substantially ready for their intended use. All other borrowing costs are
recognised in the Statement of Profif and Loss in the period in which they are incurred. The
Company determines the amount of borrowing costs eligible for capitalisation as the actual
borrowing costs incurred on that borrowing during the period less any interest income
earned on temporary investment of specific borrowings pending their expenditure on
qualifying assets, to the extent that an entity borrows funds specifically for the purpose of
obtaining a qualifying asset. In case if the Company borrows generally and uses the funds
for obtaining a qualifying asset, borrowing costs eligible for capitalisation are determined
by applying a capitalisation rate to the expenditures on that asset. The Company suspends
capitalisation of borrowing costs during extended periods in which it suspends active
development of a qualifying asset.

XVII Agricultural Activities

i) Income from the agricultural activities is accounted for up to the stage of dispatch of
goods by the Company to the customer after processing.

ii) Expenses which are directly related to the agricultural activities have been accounted
for in the books of accounf under the respective activities. Expenses which are not related
to the specific activities are allocated on the basis of turnover (net of return) of Agricultural
activities and Trading activities.

XVIII Earning per share

Basic earnings per share is calculated by dividing the net profit or loss for the year
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the year. Earnings considered in ascertaining the Company’s earnings
per share is the net profit for the year attributable to equity share holders. The weighted
average number of equity shares outstanding during the year and for all years presented is
adjusted for events, such as bonus shares, other than the conversion of potenfial equify
shares, that have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating diluted earnings per
share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year is adjusted for the effects of all
dilutive potential equity shares.

XIX Cash And Cash Equivalents

In the Statement of Cash Flow, cash and cash equivalents includes cash in hand, demand
and term deposits with banks, other short-term highly liquid investments.

XX Financial Assets At Amortised Cost

Financial assets are subsequently measured at amortised cost if these financial assets are
held within a business whose objective is to hold these assets in order to collect contractual
cash flows and contractual terms of fhe financial asset give rise on specified dates to cash
flows that are solely payments of principal and interest on the principal amount
outstanding.

XXI Financial Assets At Fair Value Through Other Comprehensive Income

Financial assets are measured at fair value through other comprehensive income if these
financial assets are held within a business whose objective is achieved by both collecting
contractual cash flows and selling financial assets and a contractual terms of the financial
assets give rise on the specified dates to cash flows that are solely payment of the principal
and interest on the principal amount outstanding.

XXII Financial Assets At Fair Value Through Profit Or Loss

Financial assets are measured at fair value through profit or loss unless it is measured at
amortised cost or at fair value through other comprehensive income on initial recognition.
The transaction costs directly attributable to the acquisition of assets and liabilities at fair
value through profit and loss are immediately recognised in the statement of profit and loss.

XXIII Financial Liabilities

Financial liabilities are measured at amortised cost using the effective interest method, if
tenure of repayment of such liability exceeds one year.

XXIV Equity Instruments

An equity instrument is a contract that evidences residual interest in the assets of the
company after deducting all of its liabilities. The Company recognises equity instruments at
proceeds received net off direct issue cost.

XXV Reclassification Of Financial Assets

The Company determines classification of the financial assets and liabilities on initial
recognitions. After initial recognition, no reclassification is made for financial assets which
are equity instruments and financial liabilities. For financial assets which are debt
instruments, a reclassification is made only if there is a change in the business model for
managing those assets. Changes to the business model are expected to be infrequent. The
Company''s senior management determines change in the business model as a result of
external or internal changes which are significant to the company''s operations. Such
changes are evident to external parties. A change in the business model occurs when a
company either begins or ceases to perform an activity that is significant to its operations.
If the Company reclassifies financial assets, it applies the reclassification prospectively from
the reclassification date which is the first day of the immediately next reporting period
following the change in business model. The Company does not restate any previously
recognized gains, losses (including impairment gains and losses) or interest.

XXVI Offsetting Of Financial Instruments

Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet
if there is currently enforceable legal righf to offset the recognized amounts and there is on
intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

XXVII Leases:

As a Lessee

The Company’s lease asset classes primarily consist of leases for land and buildings. The
Company assesses whether a contract contains a lease, at inception of a contract. A
contract is, or contains, a lease if the contract conveys the right to control the use of an
identified asset for a period of fime in exchange for considerafion.

To assess whether a contract conveys the right to control the use of an identified asset, the
Company assesses whether:

• the contract involves the use of an identified asset;

• the Company has substantially all of the economic benefits from use of the asset through
the period of the lease; and

• the Company has the right to direct the use of the asset.

At the date of commencement ot the lease, the Company recognizes a right-of-use asset
("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee,
except for leases with a term of twelve months or less (short-term leases) and low value
leases. For these short-term and low value leases, the Company recognizes the lease
payments as an operating expense on a straight-line basis over the term of the lease.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of
the lease liability adjusted for any lease payments made at or prior to the commencement
date of the lease plus any initial direct costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and impairment losses. Certain lease
arrangements include the options to extend or terminate the lease before the end of the
lease term. ROU assets and lease liabilities includes these options when it is reasonably
certain that they will be exercised.

Right-of-use assets are depreciated from fhe commencement date on o straight-line basis
over the shorter of the lease term and useful life of the underlying asset. Right of use assets
are evaluated for recoverability whenever events or changes in circumstances indicate
that their carrying amounts may not be recoverable. For the purpose of impairment testing,
the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in¬
use) is determined on an individual asset basis unless the asset does not generate cash flows
that are largely independent of those from other assets. In such cases, the recoverable
amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized cost at the present value of the future
lease payments. The lease payments are discounted using the interest rate implicit in the
lease or, if not readily determinable, using the incremental borrowing rates in the country
of domicile of these leases. Lease liabilities are remeasured with a corresponding
adjustment to the related right of use asset if the Company changes its assessment if
whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and
lease payments have been classified as financing cash flows.

Short term leases

The Company applies the short-term lease recognition exemption to its short-term leases
(i.e., those leases that have a lease term of 12 months or less from the commencement
date and do not contain a purchase option). It also applies the lease of low-value assets
recognition exemption to leases that are considered to be low value. Lease payments on
short-term leases and leases of low-value assets are recognised as expense on a straight¬
line basis over the lease term.

As a Lessor

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.

Company has passed Postal Ballot Resolution by way of Remote E voting Process by the members of the
Company on Saturday December 14, 2025.

Increase of Authorised Share Capital of the Company and the consequent amendment to Memorandum of
Association of the Company.

Company has altered the Authorised Share Capital of Company from Rs. 21,00,00,000 (Rupees Twenty-One
Crore only) divided into 21,00,00,00 (Two crores ten lakhs Equity Shares of Re. 10/- (Rupee Ten) each to Rs.
32,00,00,000 (Rupees Thirty-Two Crore only) divided into 32,00,00,00 (Three cores twenty lakhs Equity
Shares of Re. 10/- (Rupee Ten) each";

(b) Rights, Preferences and Restrictions attached to Shares

The Company has one class of equity shares having a par value of Rs. 10 per share. Equity shareholder is
eligible for one vote per share held. They are eligible for dividend on the basis of their shareholding. In the
case of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, if any, in proportion to their shareholding.

(d) The company held the EGM on 30th March, 2019 for passing the resolution for issuance of Bonus Shares
in the ratio of 4:1 and the allotment for such bonus shares was made on 26th April, 2019 and in allotment
of bonus shares 13 fractional shares were allotted in physical form.

(e) 12,13,598 Bonus shares were issued & allotted in the ratio 5:1 in accordance with the resolution passed
at the EGM held on 1st November 2021. The allotment of such shares was made on 7th December 2021.
The company has issued 5 shares in physical form. Further, the fractional 5 bonus shares were issued to Mr.
Jagdishbhai Ajudia, Managing Director of the company.

(f) The company had issued & allotted 14,68,412 equity shares to two promoters against their credit balance
with the Company as per the agreement entered into on 01st October 2021 with both the promoters and
the approval resolution passed at the EGM held on 1st November 2021.

(g) 1,00,26,000 equity shares were issued & allotted as bonus in the ratio 1:1 in accordance with the
resolution passed at the EGM held on 7th August 2023. The allotment of such shares were made on 1st
September 2023.

"13.1 Securities and other terms:-

a. Office situated at 309, Shanti Mall, Satadhar Char Rasta, Ahmedabad owned by Mr. Jagdishbhai Ajudia.

b. Industries Land and building including cold storage situated at survey number 57, 62 & 63 at Block no
384, 380 and 379 respectively at Indira Nagar, Near Meshwo River Bank, Bardoli Kathi, Tehsil Dehgam,
Gandhinagar, GJ. All 3 properties are owned by Mr. Jagdishbhai Ajudia. Hypothecation of assets created out
of bank loan proceeds.

c. Interest is payable ranging 9% to 12.94%.

d. Repayment period of term loans are ranging between 36 to 84 months.

e. Includes a term loan covered under CGTMSE guarantee scheme.

f. Loans from Banks are personally guaranteed by two promoter- directors of the Company."

13.2 Vehicle Loans included in secured loan from banks are secured by hypothecation of respective vehicles.
The repayments of loans are ranging between 30 months and 60 months.

13.3 Unsecured Loans form Banks and NBFCs are repayable within 36 months.

27.1 During the year, the company initiated comprehensive R&D trials across the states of
Jharkhand, Odisha, Maharashtra, Karnataka, Telangana, Haryana, Madhya Pradesh, Rajasthan,
and Gujarat, focusing on key crops such as Tomato, Brinjal, Chilli, Bottle Gourd, Capsicum, and
other field crops. These research activities included zone-wise testing of germplasm specific to
each state, germplasm screening, segment-wise crop breeding, development of parental lines,
and hotspot screening. Additionally, trials were conducted to evaluate nutritional value traits in
various hybrids and varieties. These efforts are part of the company''s ongoing commitment to
strengthen crop improvement programs and develop region-specific, high-performing seed
solufions.

28First Time adoption of Ind AS
Transition to Ind AS .

These are the Company''s first financial statement prepared in accordance with Ind AS.

The accounting policies set out in Note 1, have been applied in preparing the financial statements for the
year ended March 31, 2025, the comparative information presented in these financial statements for the
year ended March 31, 2024 and in the preparation of opening Ind AS balance sheet as at April 1, 2023. In
preparing its opening balance sheet, the Company has adjusted the amounts reported previously in financial
statements prepared in accordance with accounting standards notified under Companies (Accounting
Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian
GAAP). An explaination of how the transition from from previous GAAP to Ind AS has affected the Company''s
financial position, financial performance and cash flows is set out in the following tables and notes.

28.1 Exemptions and exceptions
Ind AS optional exemptions cost.

28.1.1. Deemed cost:- Ind AS 101 permits a first-time adopter to elect to continue with the carrying
value for oil of its property, plant and equipment as recognised in the financial statements as at the
date of transition to Ind AS, measured as for the previous GAAP and use that as its deemed cost as at
date of transition after making necessary adjustments for decommissioning liabilities. The exemption
can also be used for intangible assets covered by Ind -38 Intengible Assets. Accordingly, the Company
has elected to measure all of its property, plant and equipment at their previous GAAP carrying values
as at April 1,2023. There are no decommissioning liabilities of the Company.

28.1.2 Leases: Appendix -C to Ind AS 116 requires an entity to assess whether a contract or arrangement
contains a lease. In accordance with Ind AS 116, this assessment should be carried out at the inception
of the contract or arrangement. Ind AS 101 provides an option to make this assessment on the basis of
facts and circumstances existing at the date of transition to Ind AS, except where the effect is
expected not to be material. The Company has elected to apply this exemption for such contracts /
arrangements, wherever applicable.

28.1.3. Decomissioning liability included in the cost of property, plant and equipment: An entity need
not to comply with the requirements of Appendix A of Ind AS -16 changes in Existing Decommissioning,
Restoration similar liabilities for liabilities occured before the date of transition to Ind AS. An entity can
measure the liability as of the date transition. The Company has elected to measure such liabilities as
on the date of transition and on the basis of such evaluations no liabilities need to be recognised,
wherever applicable.

28.2.2 Classification and measurement of financial assets: Ind AS 101 requires an entity to assess
classification and measurement of financial assets (investment in debt instruments) on the basis of the
facts and circumstances that exist at the date transition to Ind AS.

28.2.3. Impairment of financial assets: An entity shall determine the approximate credit risk at the date
that financial instruments were initially recognized and compare that to the credit risk at the date of
transition to Ind. This should be based on reasonable and supportable information that is available
without undue cost or efforts. If any entity is unable to make this determination without undue cost or
effort, it shall recognise a loss allowance at an amount equual to lifetime expected credit losses at
each reporting date untill that financial instrument is de-recognised. The Company has this exception
to analyse credit risk of the financial assets as the date of transition insteated of the date of initial
recognition.

The management assessed that the fair values of shorf term financial assets and liabilities
significantly approximate their carrying amounts largely due to the short term maturities of these
instruments. The fair value of financial assefs and liabilities is included at the amount at which the
instrument could be exchanged in a current transaction among willing parties, other than in a
forced or liquidation sale

The Company determines fair values of financial assets and financial liabilities by discounting
contractual cash inflows/ outflows using prevailing interest rates of financial instruments with similer
terns. The fair value of investment is determined using quoted net assets value from the fund.
Further, the subsequent measurement of all finance assets and liabilities (other than investment in
mutual funds) is at amortized cost, using the effective interest method.

Discount rates used in
determining fair value

The interest rate used to discount estimated future cash flows, where applicable, are based on
the incremental borrowing rate of the borrower which in case of financial liabilities is the weighted

average cost of borrowing of the Company and in case of financial assets is the average market
rate of similar credits rated instrument.

The Company maintains policies and procedures to value financial assets or financial liabilities
using the best and most relevant data available. In addition, the Company internally reviews
valuation, including independent price validation for certain instruments.

Fair value of financial assets and liabilities is the amount that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between market participants at the
measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique.

The following methods and assumptions were used to estimate fair value:-

a) Fair value of short term financial assets and liabilities significantly approximate their carrying amounts
largely due to the short term maturities of these instruments.

b) The fair value of the Company''s interest borrowing received are determined using discount rate reflects
the entity''s borrowing rate as at the end of the reporting period. The own non performance risk as at the
end of reporting period was assessed to be insignificant.

Fair value hierarchy

All financial instruments for which fair value is recognized or disclosed are categorized within the fair value
hierarchy described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole.

Level -1

Quoted (unadjusted) price is active market for identical assets or liabilities
Level 2:

Valuation technique for which the lowest level input that has a significant effect on the fair
value measurement are observed, either directly or indirectly.

Level 3

Valuation technique for which the lowest level input has a significant effect on the fair value
measurement is not based on observation market data.

30 Financial Instruments and Risk
Review

i) Capital Management

The Company''s capital management

objectives are:- k

The Board policy is to maintain a strong capital base so as to maintain inventor, creditors and
market confidence and to future development of the business. The Board of Directors monitors
return on capital employed.

The Company manages capital risk by maintaining sound/optimal capital structure through
monitoring of financial ratios, such as debt-to-equity ratio and net borrowings-to-equity ratio on
a monthly basis and implements capital structure improvement plan when necessary.

The Company uses debt ratio as a capital management index and calculates the ratio as Net
debt divided by total equity. Net debt and total equity are based on the amounts stated in the
financial statements.

ii) Credit Risk

Credit risk is the risk of financial loss arising from counter-party failure to repay or service debt
according to contractual terms or obligations. Credit risk encompasses both, the direct risk of default
and the risk of deterioration of credit worthiness as well as concentration of risks. Credit risk is
controlled by analyzing credit limit and creditworthiness of customers on a continuous basis to whom
the credit has been granted offer necessary approvals for credit.

Financial instruments that are subject to concentration of credit risk principally consists of trade
receivable investments, derivative financial instruments and other financial assets. None of the
financial instruments of the Company results in material concentration of credit risk.

Trade receivables

Ind AS requires expected credit losses to be measured through a loss allowance. The Company
assesses at each date ot tinancial statement whether a financial asset or group of financial assets is
impaired. The Company recognizes lifetime expected losses for all contract assets and / or all trade
receivables that do not constitute a financing transaction. For all other financial assets, expected
credit losses are measured at an amount equal to 12 months expected credit losses or at an amount
equal to the life time expected credit losses, if the credit risk on the financial asset has increased
significantly since initial recognition.

Before accenting any new customer, the Company uses an external/internal credit scoring system to
asses potential customer’s credit quality and defines credit limits by customer. Limits and scoring
attributed to customer are reviewed periodic basis.

iii) Liquidity Risk

a) Liquidity risk management

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of
liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use
as per requirements. The Company manages liquidity risk by maintaining adequate reserves, banking
facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows,
and by matching the maturity profiles of financial assets and liabilities.

b) Maturities of financial liabilities

The following tables detail the remaining contractual maturities for its financial liabilities with agreed
repayment period. The amount disclosed in the tables have been draw up based on the
undiscounted cash flow of financial liabilities based on the earliest date on which the Company can
be required to pay. The table includes both interest and principal cash flows.

32 i) Certain accounts of Trade Receivable, Trade Payable, Unsecured Loans, Employees, Loans
and Advances including advances given to growers are subject to confirmations and reconciliations, if any.
The difference as may be noticed on reconciliation will be duly accounted for on completion thereof. In the
opinion of the management, the ultimate difference will not be material.

iii) Detailed transaction confirmation in respect of certain parties including employees of the company
asked for by the auditors could not be produced for their verification for want of their receipt from
the respective parties.

33 In the opinion of the Board, Current and Non-current Assets, Loans and Advances are approximately
of the value stated, if realized in the ordinary course of the business.

39 In the opinion of the Board, Property, Plant and Equipment''s have been stated at cost, which is at
least equal to or less than the realizable value if sold in the ordinary course of business. Consequently, the
management is of the opinion that there is no impairment of assets.

40 i The company is engaged in agricultural activities of production of seeds on lease hold land
situated at various part of India.

ii The company has entered into agreements with various farmers/growers for cultivation and
production of agricultural produce in view of the fact that the company itself is unable to carry on such
activities which are spread over various parts of India. The company has compensated the production
expenses (Refer Note No .23) based upon the agreements entered into with the farmers/ growers.

44 OPERATING LEASE

The Company''s significant leasing arrangements are in respect of operating leases for agricultural
lands. These leasing arrangements which are in cancellable range and are usually renewable by mutual
consent on mutually agreeable terms. The aggregate lease rentals payable are charged as Lease Rent for
agricultural land in the Statement of Profit and Loss.

The company has taken certain piece of land including agricultural land, a godown and an office, on
long term lease from the director of the Company without any lease rental. As a result, the company is not
recognising assets including right of use and related liabilties as required in Ind AS 116.

47 The company has used the borrowings from banks and financial institutions for the purpose for
which it was taken at the balance sheet date.

48 The Company does not have any investment property, hence related disclosure is not required.

49 The company has not granted Loans or Advances in the nature of loans to promoters, directors,
KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any
other person.

50 Details of Benami Property held - No proceeding has been initiated or pending against the company
for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
the rules made thereunder.

51 Wilful Defaulter - The company is not declared wilful defaulter by any bank or financial Institution
or other lender during the year.

52 Registration of charges or satisfaction with Registrar of Companies - During the year, the company
has registered charges on the assets of the Company with the Registrar of Companies within the time
specified under the Companies Act, 2013 and is not required to satisfy the charges .

53 Relationship with Struck off Companies - During the year, the company has not carried out any
transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of
Companies Act, 1956.

55 Utilisation of Borrowed funds and share premium: The company has not advanced or loaned or
invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

56 Undisclosed income - There is no case of search or survey of any other cases related to income
surrendered or disclosed in any tax assessments under the Income Tax Act, 1961.

57 The company has not invested in Crypto Currency or Virtual Currency, hence related details are not
provided

58 Previous year''s figures have been regrouped / rearranged wherever necessary to make comparable
current year''s presentation.

As per our report of even date

For Gautam N Associates For and on behalf of Board of Directors

Chartered Accountants

Firm Registration No: 103117W

SD/- SD/-

SD/_ Jaydish D. Ai Lidiya Malti J. Ajudiya

Gautam Nandawat Managing Director Whole Time Director

Partner DIN: 01745951 DIN: 02403878

M.No: 032742 Place:-Ahmedabad Place:- Ahmedabad

UDIN : 2503274BMJJKY5964 Date:- 26-05-2025 Date26-05-2025

Place:- Chhatrapati Sambhajinagar
Date26-05-2025

SD/- SD/-

Rinku D. Jethva DimpyJoshi

Chief Financial Officer Company Secretary

Place Ahmedabad Place :- Ahmedabad

Date :- 26-05-2025 Date 26-05-2025

---

Mar 31, 2023

2.3 The company has held the EGM on 30th March, 2019 for passing the resolution for issuance of Bonus Shares in the ratio of 4:1, however, the allotment for such bonus shares are made on 26^th April, 2019 and in allotment of bonus shares 13 fractional shares are allotted in physical form.

2.4 12,13,598 Bonus shares were issued & allotted in the ratio 5:1 in accordance with the resolution passed at the EGM held on 1 st November 2021. The allotment of such shares were made on 7th December 2021. The company has issued 6 shares in physical form. Further, the fractional 5 bonus shares were issued to Mr. Jagdishbhai Ajudia, Managing Director of the company.

2.5 4,16,700 equity shares on preferential were issued in cash to four parties at a premium of Rs. 55 per shares as per the resolution passed at the EGM held on 01st November 2021. The same is allotted at the board meeting held on 21st March 2022. Since the share application money was received after due date, the company has conducted EGM on 25th May 2022 to ratify the Resolution passed at the EGM of 01st November 2021. The differential amount in respect of change in pricing of shares is received and the same is credited to "Security Premium Account" during the year.

2.6 The company had also issued & allotted 14,68,412 equity shares to two promoters against their credit balance with the Company as per the agreement entered into on 01st October 2021 with both the promoters and the approval resolution passed at the EGM held on 1 st November 2021. Since new pricing came as per the resolution passed in EGM held on 25th May 2022, the differential value of shares is received and the same has been credited to "Security Premium Account".

2.8 The Company has one class of equity shares having a par value of Rs. 10 per share. Equity shareholder is eligible for one vote per share held. They are eligible for dividend on the basis of their shareholding. In the case of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, if any, in proportion to their shareholding.

The company has provided equitable mortgage of the following land and building as security:

a. Office situated at 309, Shanti Mall, Satadhar Char Rasta, Ahmedabad

b. Industries Land and building including cold storage situated at survey number 57, 62 & 63 at Block

no 384, 380 and 379 respectively at Indira Nagar, Near Meshwo River Bank, Bardoli Kathi, Tehsil Dehgam, Gandhinagar, GJ.

c. Loans from Banks are personally guaranteed by two promoter- directors of the Company.

4.2 Vehicle Loans included in secured loan from banks are secured by hypothecation of respective vehicles. The repayments of loans are ranging between 36 months and 60 months.

4.3 Unsecured Loans form Banks and NBFCs are repayable ranging between 19 and 96 months.

9.1 The Company has dispatched letters to certain vendors to ascertain their status under the Micro, Small and Medium Enterprises Development Act, 2006. Based upon management estimation and confirmation received, the company has classified the trade payables as amount due to MSMEs. The outstanding balances of growers/farmers are also classified under MSMEs.

Certain accounts of Trade Receivable, Trade Payable, Unsecured Loans, Employees, Loans and Advances (including advances given to growers) are subject to confirmations and reconciliations, if any. The difference as may be noticed on reconciliation will be duly accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

In the opinion of the Board, Current and Non-current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of the business.

In order to garner additional sales and popularize the products of the Company among the retail farmers/ customers, the company has affected counter sales on cash basis for which requisite details of customers i.e. name, address, PAN, etc could not be made available to the auditors for their verification.

The company is producing and trading various grades/ varieties of seeds for which price range for purchase and production varies significantly. Consequently, the company is in the process of developing a stock accounting system by which cost of production and prices are ascertainable for each grade /varieties separately and accurately. Pending that the valuation of stock has been taken based upon the closing stock verified by the management at the year end and valued at an average rate of grade/varieties.

Contingent liabilities not provided for in respect of:-

1. Disputed demand of income tax of Rs. 93,62,629 relating to various assessment years.

2. Incom e tax (TD S) demand of Rs. 1,40,192.

Estimated value of contract remaining to be executed on capital account and not provided for in accounts.(Net of advance of Rs. 5,46,362) Rs. 23,89,500

Note:- This information has been given in respect of such vendors to the extent they could be identified as Micro and Small enterprises on the basis of information available with the Company.

The company is engaged in agriculture activities of production of seeds on lease hold land situated at various part of India.

The company has entered into agreements with various growers for cultivation and production of agricultural produce (Seeds) in view of the fact that the company itself is unable to carry on such activities which are spread over various parts of India. The company has reimbursed the cultivation expenses based upon the agreements entered into with the growers.

Expenditure related to and incurred during the implementation of the projects is included under Capital Work-in- Progress and the same are capitalized under the appropriate heads on completion of the projects.

The Company’s significant leasing arrangements are in respect of operating leases for agricultural land. These leasing arrangements which are in cancellable range and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as rent in the Statement of Profit and Loss.

The company is not fulfilling the criteria as specified in section 135 of the Companies Act, 2013 relating to the expenditure on Corporate Social Responsibility Activities, hence, the company has not incurred any expense during the year.

The company does not have assets/liabilities at the year end denominated in foreign currency which requires translation at the rates of exchange prevailing on the Balance Sheet date in accordance with Accounting Standard 11 - “The Effects of Changes in Foreign Exchange”.

Foreign Currency Transactions	31-03-2023	31-03-2022
FOB value of exports	Nil	Nil
CIF Value of Imports	Nil	Nil
Expenditure in Foreign	Nil	Nil
Currency

No Loans or Advances in the nature of loans are granted during the year to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.

Details of Benami Property held - No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

The Company has made borrowings from banks on the basis of security of current assets and statements of current assets filed by the Company with banks are largely in agreement with the books of accounts with certain acceptable range of variation.

Wilful Defaulter - The company is not declared wilful defaulter by any bank or financial Institution or other lender during the year.

Relationship with Struck off Companies - During the year, the company has not carried out any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,

Utilisation of Borrowed funds and share premium: The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

Undisclosed income - There is no case of search, survey or any other case related to income surrendered or dis closed in any tax assessments under the Income Tax Act, 1961.

The company has not invested in Crypto Currency or Virtual Currency during the year.

Previous year''s figures have been regrouped and rearranged wherever necessary.

---

Mar 31, 2018

NOTES TO THE ACCOUNTS

NOTE	SHARE CAPITAL	2017-18	2016-17
N0.1
	(AUTHORISED:) 6000000 Equity shares of Rs.10/-Each	60,000,000	15,000,000
		60,000,000	15,000,000
	(2)ISSUED. SUBSCRIBED& PAID UP
	3424392 Equity shares of Rs.10/-Each 1488866 Equity shares of Rs.10/-Each	34,243,920	14,888,660
	TOTAL	34,243,920	14,888,660

RECONCILIATION OF NUMBER OF SHARES

PARTICULARS	AS AT 31.03.2018 No. of Shares	AS AT 31.03.2017 No. of Shares
Equity Shares : Face Value of " 10/-each
As at the beginning of the year	14,888,660	14,888,660
Issue of Capital/Bought Back etc.	19,355,260	-
As at the end of the year	34,243,920	14,888,660

SHAREHOLDERS HOLDING MORE THAN 5% OF EQUITY SHARE CAPITAL

NAME OF THE SHAREHOLDER	AS AT 31.03.2018 No. of Shares	AS AT 31.03.2017 No. of Shares
Jagdish D Ajudiya	3,296,301	1,433,196

DETAILS OF BONUS SHARES ISSUED

The Company has issued 1935526 Bonus Shares @ Rs. 10 per share in 2017-18

TERMS/RIGHTS ATTACHED TO EQUITY SHARES

NOTE N0.2	RESERVES & SURPLUS	2017-18	2016-17
	PROFIT & LOSS ACCOUNT
	Opening Balance	20,035,393	16,087,589
	Add/(Less): Profit /(Loss) during the year	14,491,033	3,947,804
	Add : Security Premium
	Less : Bonus Shares Issued	19,355,260
	TOTAL	15,171,166	20,035,393

NOTE N0.3	LONG TERM BORROWINGS	2017-18	2016-17
	SECURED LOAN
	SBI XYLO Car Loan (Secured against hypothecation of CAR)	0	-
		0	-
	UNSECURED LOAN
	Bajaj Finance Ltd	3,053,479	3,102,373
	IVL Finance Ltd.	2,731,220
	Capital First Limited	2,253,788
	Tata Capital Finance	2,208,348
	VISU Leasing and Finance Bank	2,087,727

	Kotak Mahindra Bank		-
	Deposits
	From Directors	6,405,500	251,010
	From Friend/Relatives	1,053,041	1,219,032
		19,793,103	4,572,415
	TOTAL	19,793,103	4,572,415

NOTE
N0.4	DEFERRED TAX LIABILITIES/ ASSETS	2017-18	2016-17
a)	DEFERRED TAX ASSETS
	On Unabsorbed Depreciation		-
	On Expense Allowed On Payment Basis	2,988,560	-
	On Expenses Allowable on Payment
	Basis		-
b)	DEFERRED TAX LIABILITY/(ASSETS)
	On Depreciation On Fixed Assets		-4,366,722
	TOTAL	2988560	(4,366,722)

NOTE	SHORT TERM BORROWINGS	2017-18	2016-17
NO.5
a)	SECURED LOAN
	DENABANK-OD31064 (Secured against Hypothecation Inventory)	8,129,688	6,622,991
	DENA BANK R & D -OD 31 1 1 7 (Secured against Hypothecation Inventory) Unsecured	37,499,298	36,990,253
	Indusind Bank	-	212,496
	Kotak Mahindra Bank	-	159,957
	TOTAL	45,628,986	43,985,697

NOTE NO.6	TRADE PAYABLES	2017-18	2016-17
a)	Sundry creditors	46,331,029	35,695,531
	TOTAL	46,331,029	35,695,531

NOTE N0.7	OTHER CURRENT LIABILITIES	2017-18	2016-17
a)	Advances from Party	398,325
b)	Deposit liabilty	4,148,749	4,194,309
	TOTAL	4,547,074	4,194,309

NOTE
NO.8	SHORT TERM PROVISIONS	2017-18	2016-17
	Provision For Employee
a)	Benefits
	R & D Wages Payable	-	-
	Professional Tax Payable	3,664	2,834
	Provident Fund Payable	19,116	11,137
	TOTAL (A)	22,780	13,971
b)	Other Provisions
	IDS on Contra Advertisement	3,029	-
	IDS on Contract	5,040	1,000
	IDS on Professional Fee	27,500	25,250
	IDS on Rent of Building		-
	IDS on Rent of Machinery		-
	IDS on Salary	26,540	13,270
	Provision for Sarkhej Godown
	Rent	30,256
	Provision for Electricity	10,330	-
	IDS payable on Interest	122,935
	Provision for Bank Interest	646,423	731,255
	Provision for Audit Fees	297,000
	Provision for Telephone Exp.	2,914	7,109
	Provision for Income Tax	4,535,734	1,256,093
	TOTAL (B)	5,707,701	2,033,977
	TOTAL (A B)	5,730,481	2,047,948

NOTE N0.10	NON CURRENT INVESTMENT	2017-18	2016-17
	TOTAL		-

NOTE NO.11	LONG TERM LOANS & ADVANCES	2017-18	2016-17
	Deposits
a)	BSNL	500	500
b)	Chhatisgadh Licence		100,000
c)	Jagdishbhai (Water Sanand)	200	200
d)	Kinnaben Mukeshbhai Kalariya
e)	M. P. StateAgrol.D. C.	200,000	100,000
	Pankajbhai Patel (Home
f)	Owner)		30,000
	TOTAL	200,700	230,700

NOTE N0.12	OTHER NON CURRENT ASSETS	2017-18	2016-17
a)	Preliminary Expenses	577,168
	TOTAL	577,168	-

NOTE NO.13	INVENTORIES	2017-18	2016-17
a)	Finished Goods (As Valued, Verified and Certified by Management)	62,017,586	51,346,643
	TOTAL	62,017,586	51,346,643

NOTE N0.14	TRADE RECEIVABLES	2017-18	2016-17

a)	More than Six Months	10,245,710	-
b)	Less than Six Months	79,606,388	-
	TOTAL	89,852,098	50,649,203

NOTE NO.15	CASH AND CASH EQUIVALENTS	2017-18	2016-17
a)	Cash On Hand	272,813	280,450
b)	HDFC Bank -21296	437,490	227,391
	TOTAL	710,303	507,841

NOTE N0.16	LOANS & ADVANCES	2017-18	2016-17
a)	Advances Against Purchase		6,238,393
b)	Balwantray P Baraiya	12,752	5,000
c)	Jagdish Roziya	30,000
d)	Sudhir Kumar	45,000
e)	Malti Ajudiya		5,100
	S Ketanbhai Bamrotiya-TA
f)	DA
g)	Jagdishbhai Ajudia HUF	500	5,000
	Pankajbhai Patel (home
h)	owner)
	TOTAL	88,252	6,253,493

NOTE NO.17	OTHER CURRENT ASSETS	2017-18	2016-17
a)	Prepaid Insurance	-	-
	TOTAL		-

NOTE NO.18	REVENUE FROM OPERATIONS	2017-18	2016-17
	Sales	296,201,213	245,074,220
	Scrap Sales	-	23,013
TOTAL		296,201,213	245,097,233

NOTE NO.19	OTHER INCOME	2017-18	2016-17
	Cash Discount	14,605	289
	Courier Charges	1,680	6,606
	Debit Note	11,562	19,093
	Duty Drawback	2,580	3,295
	Foreign Exchange Gain	57,711	-
	Goods Damage	-	300
	Interest Income	1 ,427,552	-
	Kasar Vatav	29,166	4,956
	Letout God own
	Maintenance Charge	-	15,000
	Off Office Salary	-	5,535
	Packing and Forwarding	466,785
	Processing Fees	-	216,490
	Rent Income	81,600	187,000
	Round Off	-89	-478
	Transportation Income	87,440	210,663
	TOTAL	2,180,592	668,749

NOTE NO.20 - CHANGES IN INVENTORY OF FINISHED GOODS, WORK-IN-PROGRESS AND STOCK-IN-TRADE		2017-18	2016-17
	Opening Balance	51 ,346,643	53,349,799
		51,346,643	53,349,799
	LESS: Closing Stock	62,017,586	51 ,346,643
	TOTAL	-10,670,943	2,003,156

NOTE NO.21	EMPLOYEE BENEFIT EXPENSES	2017-18	2016-17
	Directors Salary	1,593,997	1,417,155
	R& D Salary R & D farm Bonus	1,006,746	625,181
	Expenses	8,300
	Bonus	12,400	32,631

	Staff Welfare Exp	36,030	9,000
	Salary	2,783,987	2,430,825
	Wages Expenses		529,431
	EPF Expenses		9,432
	ESI Expenses	24,277	5,298
	TOTAL	5,465,737	5,058,953

NOTE NO.22	FINANCIAL COSTS	2017-18	2016-17
	Bank Charges	267,283	164,065
	R& D Bank Interest	4,311,775	5,061,883
	Bank Interest	2,294,474	1,144,271
	Interest on Late Payment of IDS		6,086
	Interest on Professional Tax		454
	TOTAL	6,873,532	6,376,759

NOTE NO.23	OTHER EXPENSES	2017-18	2016-17
	Manufacturing
a)	Expenses
	Electricity Expenses	102,583	117,830
	Rent of Factory Machinery		385,000
	R & D Farm Exp.	148,813	1,354,508
	R & D Farm Land Leveling
	Exp.	2,482,945	280,000
	Material Cleaning Exp.	3,184,207	2,241,604
	Machine Reparing Expense	13,020	43,353
	Seeds Exp.	1,224,581	78,676
	Packing Material Expenses	3,220,333	2,704,872
	TOTAL (A)	10,376,482	7,205,843
	Administrative & Selling & Distribution
b)	Expenses
	Audit Fees	275,000	305,910
	Admin Charges for PF and	9,026