Nakoda Group Of Industries Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

p) Provisions and Contingencies

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past
event exists, and it is probable that an outflow of resources embodying economic benefits will be
required to settle such obligation and the amount of such obligation can be reliably estimated.

If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liabilities. When discounting is used, the increase in
the provision due to the passage of time is recognized as a finance cost.

A disclosure for contingent liabilities is made when there is a possible obligation or a present obligation
that may, but probably will not require an outflow of resources embodying economic benefits or the
amount of such obligation cannot be measured reliably. When there is a possible obligation or a present
obligation in respect of which likelihood of outflow of resources embodying economic benefits is remote,
no provision or disclosure is made.

A provision is recognized if, as a result of a past event, the Company has a present legal obligation that
can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provisions are determined by the best estimate of the outflow of economic benefits
required to settle the obligation at the reporting date. Where no reliable estimate can be made, a
disclosure is made as Contingent Liabilities.

Contingent assets are a possible asset arising from past events, the existence of which will be confirmed,
only by the occurrence and non-occurrence of one or more uncertain future events not wholly within the
controls of the Company. Contingent assets are not recognized till realization of the income is virtually
certain and are not recognized in the Financial Statements. The nature of such assets and an estimate of
its financial effects are disclosed in the notes to the Financial Statements.

q) Exceptional Items

Exceptional items are disclosed separately in the Financial Statements, where it is necessary to do so to
provide further understanding of the financial performance of the Company. These are the material items
of income or expenses that have shown separately due to their nature and incidence. An ordinary item
of income or expense which by its size, nature, occurrence or incidence requires a disclosure in order to
improve understanding of the performance of the Company is treated as an exceptional item in the
Statement of Profit and Loss.

r) Event after Reporting Date

Adjusting events are those events that provides further evidence of conditions that existed at the end of
the reporting period. The Financial Statements are adjusted for such events before authorization for
issue. Non-adjusting events are those events that are indicative of conditions that arose after the end of
the reporting period. Non-adjusting events after the end of the reporting period are not accounted, but
disclosed if material.

All the events occurring after the balance sheet date up to the date of the approval of the Financial
Statement of the Company by the board of directors on May 28, 2025, have been considered, disclosed
and adjusted, wherever applicable, as per the requirement of Indian Accounting Standards.

s) Cash Flow Statements

Cash flows statements are reported using the method set out in the Ind AS - 7, "Cash Flow Statements"
and is prepared by using indirect method adjusting the net profit / (losses) before tax excluding
exceptional items for the effect of:

i) Changes during the period in inventories and other operating receivables and payables;

ii) Non-cash items such as depreciation, provisions, unrealized foreign currency gain / (losses); and

iii) all other items for which the cash effects are investing and financing cash flows.

The cash flows from operating, investing and financing activities of the Company are segregated. The
cash and cash equivalents (including balances with banks), shown in the Statement of Cash Flows exclude
items, which are not available for general use as at the date of Balance Sheet.

t) Cash and Cash Equivalents

Cash and cash equivalents include cash and cheques-in-hand, balances with banks, and demand deposits
with banks where the original maturity is three months or less and other short-term highly liquid
investments net of bank of overdrafts, which are repayable on demand as these from an integral part of
the Company''s cash management.

u) Commitments

Commitments are the future liabilities for contractual expenditure, classified and disclosed as follows:

i) estimated amounts of contracts remaining to be executed on capital account and not provided for;

ii) other non-cancellable commitment, if any, to the extent they are considered material and relevant in
the opinion of the Company''s management.

Other commitments related to sales / procurements made in the normal course of business are not
disclosed to avoid the excessive details.

1.5 RECENT ACCOUNTING PRONOUNCEMENT

Ministry of Corporate Affairs (the “MCA”) notifies new standards or amendments to the existing
standards under the Companies (Indian Accounting Standard) Rules as issued from time to time. For the
period March 31, 2025, the MCA has not notified any new standards or amendments to the existing
standards applicable to the Company.

1.6 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of the Company''s Financial Statements is in conformity with the Ind AS, which requires
the Company''s managements to make judgments, estimates and assumptions that affect the application
of the accounting policies and the reported amounts of the assets, liabilities, incomes, and expenses
(including the contingent liabilities) and the accompanying disclosures. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the carrying
amount of assets or liabilities effected in future periods. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on a periodic basis. Revision to accounting
estimates is recognized in the period in which the estimates are revised and in any future periods
affected.

The key assumptions concerning the future and other key resources of estimation uncertainty at the
reporting date, that have a significant risk of causing a material adjustment to the carrying amount of the
assets and liabilities within the next financial year, are described as follow:

a) Income Tax: The Company''s tax jurisdiction is in India. Significant judgments are involved in
estimating budgeted profits for the purpose of paying advance tax, determining the income tax
provisions, including the amount expected to be paid / recovered for uncertain tax provisions (Refer
"Note No. 18").

b) Property. Plant and Equipment: Property, plant and equipment represent a significant proportion
of assets base of the Company. The charge in respect of periodic depreciation is derived after
determining an estimate of an asset''s expected useful life and expected residual value at the end of
its life. The useful lives and residual values of assets are determined by the Company''s management
at the time the assets are acquired and reviewed periodically, including at each financial year end.
The useful lives of each of these assets are based on the life prescribed in Schedule - II to the
Companies Act, 2013, or based on the technical estimates, taken into the account the nature of the
assets, estimated usage, expected residual values and operating conditions of the assets. The useful
lives are based on historical experience with the similar assets as well as anticipation of future events,
which may impact their life, such as changes in technical or commercial obsolescence arising from
changes or improvements in production or from a change in market demand of the product or service
output of the assets.

c) Defined Benefits Obligations: The costs of providing gratuity and other post-employment benefits
are charged to the Statement of Profit and Loss in accordance with Ind AS - 19, "Employee Benefits"
over the period during which benefit is derived from the employees'' services. It is determined by
using the actuarial valuation and assessed on the basis of assumptions selected by the Company''s
management. An actuarial valuation involves making various assumptions that may differ from
actual developments in the future. These assumptions include salary escalation rate, discount rates,
expected rate of return on assets and mortality rates. The same is disclosed in “Note No. 44",
"Employee Benefits". Due to complexities involved in the valuation and its long-term in nature, a
defined benefit obligation is highly sensitive to change in these assumptions. All assumptions are
reviewed at each balance sheet date by the Company''s Management.

d) Fair Value measurements of Financial Instruments: When the fair values of financial assets and
financial liabilities recorded in the Balance Sheet cannot be measured based on quoted prices in
active markets, their fair value is measured using valuation techniques, including the discounted
cashflow model, which involves various judgments and assumptions. The input to these models is
taken from observable markets wherever possible, where this is not feasible, a degree of judgment is
required in establishing fair value. Judgements include considerations of inputs such as liquidity risk,
credit risk and volatility. Changes in assumptions about these factors could affect the reported fair
value of the financial instruments.

e) Recoverability of Trade Receivables: Judgment is required in assessing the recoverability of
overdue trade receivables and determining whether a provision is against those receivables is
required. Factors considered include the credit rating of the counterparty, the amount and timing of
anticipated future payments and any possible actions that can be taken to mitigate the risk of non¬
payments.

f) Provisions and Contingent Liabilities: The Company''s management estimates the provision that
have present obligation as a result of past events, and it is probable that outflow of resources will be
required to settle the obligation. These provisions are reviewed at the end of each reporting period
and are adjusted to reflect the current best estimates.

The Company uses significant judgements to assess contingent liabilities. Contingent liabilities are
disclosed when there is 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 controls 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 the obligation or a
reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor
disclosed in the Financial Statements.

g) Impairment of Financial and Non-Financial Assets: The impairment provision of financial assets
is based on the assumptions about the risk of default and expected cash loss rates. The Company uses
judgment in making these assumptions and selecting the inputs to the impairment calculation, based
on the Company''s history, existing market conditions as well as forward looking estimates at the end
of the reporting period.

In case of non-financial assets, the Company estimates asset''s recoverable amount, this is higher of
an assets or cash generating units (CGU) fair value less the cost of disposal and the value-in-use. In
assessing the value-in-use, the estimated future cash flows are discounted using the pre-tax discount
rate that reflects current market assessments of the time value of money and the risk specific to the
assets. In determining the fair value less cost of disposal, recent market transactions are taken into
account, if no such transactions can be identified, an appropriate valuation model is being used.

h) Recognition of Deferred Tax Assets and Liabilities: Deferred tax assets and liabilities are
recognized for deductible temporary differences and unused tax losses or unused tax credit for which
there is probability of utilization against the future taxable profits. The Company uses judgments to
determine the amount of deferred tax that can be recognized, based upon the likely timing and the
level of future taxable profits and business developments.

* The Company issued 50,90,056 equity shares of the face value of '' 10 each on right basis ("Right Equity Share") to
the eligible equity shareholders at an issue price of 25 per shares, which included a share premium of 15 per
shares. In accordance with the terms of issue, ’ 06.25 per Right Equity Shares (i.e. 25% of the issue price), was
received from the respective allottees at the time of application, upon which the shares were allotted. The Board of
Directors has resolved to raise the balance amount through two further calls, a First Call of ‘ 08.75 per Right Equity
Shares (Including a premium of ’ 05.25 per share) and Second and Final Call of ’ 10 per Right Equity Shares
(Including a premium of '' 06.00 per share).

** The term deposits held by the Company with banks and financial institutions comprise time deposits made for
varying periods of upto one year and earn interest at the respective deposit rates.

*** No amount of advances and receivables are due from directors or other officers of the Company either
severally or jointly with any other persons, nor due from firms or private companies respectively in which director is
partner, a director or a member.

Securities Premium: The Securities Premium Account is used to record the premium received on the issue of equity shares. This reserve is primarily utilized in accordance with the provisions of the

a) Companies Act, 2013. During the year, the Company utilized an amount of ^ 37.57 lakhs (Previous Year: ^ 42.98 lakhs) from the Securities Premium towards expenses incurred in connection with the
rights issue.

Remeasurement of Defined Benefits Plan: This represents the cumulative gains or losses arising from the remeasurement of defined benefit plans in accordance with Ind AS 19, which have been
bj ~

recognized in Other Comprehensive Income.

c) Retained Earnings: etained Earnings represent the accumulated and undistributed profits of the Company as at the reporting date of the Financial Statements.

Share Call Money: Call money refers to the portion of the issue price of shares (face value and premium) that has been called up by the Company from the respective shareholders after the initial
allotment of partly paid shares. It represents the balance amount payable by Shareholders in respect of such shares as per the terms of the issue. The Company may raise the balance amount of partly

d) paid shares in one more installments, referred to as Second Call and Final Call, as decided by the Board of Directors. The amount of call money received is credited to Share Capital and Securities
Premium accounts, respectively, as applicable. Any amount remaining unpaid as on the due date is disclosed separately as Calls-in-Arrears or Unpaid Call Money under "Other Current Assets" or "Other
Equity", depending on its nature and recoverability.

* As per the records of the Company, including the register of members. The above details are certified by the Registrar and Share Transfer Agents.

The Board of Directors of the Company has not declared any interim dividend at its meetings held during the reporting period and the previous reporting period.
Further, no final dividend was declared during the reporting period or the previous reporting period. (Refer "Note No. 45")

d) Issuance of Shares under Right Issue

The Company issued 50,90,056, equity shares of the face value of '' 10 each on right basis ("Right Equity Share") to eligible equity shareholders at an issue price of ''
25 per share, including a premium of '' 15 per share. In accordance with the terms of issue, ‘ 06.25 per Right Equity Shares (i.e. 25% of the issue price), was received
from the respective allottees at the time of the application, upon which the shares were allotted. The Board of Directors resolved to raise the balance amount
through two subsequent calls, a First Call of'' 08.75 per Right Equity Shares (Including a premium of'' 05.25 per shares) and Second and Final Call of'' 10 per Right
Equity Shares (Including a premium of '' 06.00 per shares). As at March 31, 2025, an aggregate amount of '' 06.01 Lakhs is unpaid in respect of the Right Issue.

On October 6, 2023, the Company allotted 15,90,642, fully paid-up equity shares of face value ^ 10 each at an issue price of R 40.00 per share (including a premium
of R 30 per share), aggregating to ^ 636.26 lakhs. The allotment was made on a rights basis to the existing equity shareholders of the Company in the ratio of 1:7,
i.e., one equity share for every seven equity shares held by eligible shareholders as on the record date. The issue was fully subscribed. The basic and diluted
earnings per share for the period ended March 31, 2025, and March 31, 2024, have been adjusted to reflect the bonus element inherent in the rights issue. The
proceeds from the rights issue have been utilized in accordance with the objectives stated in the Offer Document.

Nature of Securities and Terms of Repayments

a) The term loans from HDFC Bank Limited is secured by a first pari-passu charge on the present and future
Property, Plant and Equipment of the Company. These credit facilities are further secured by a first pari-passu
charge by way of equitable mortgage on immovable property comprising factory land situated at Khasara No. 83,
Gram Panchayat Nos. 208 and 209, Mouza Bidgaon, Kamptee, which is held in the name of Director, Shri Pravin
Navalchand Choudhary. Additionally, the credit facilities are secured by a first pari-passu charge on the factory
building constructed by the Company on the aforesaid land.

b) The term loan from HDFC Bank Limited amounting to ^ 809.89 Lakhs was obtained for setting up the factory
building and procuring plant and equipment at the Company''s manufacturing facility located at Bidgaon, Kamptee,
Nagpur. The loan was repayable in equal quarterly installments of ^ 53.29 Lakhs and has been fully repaid on or
before November 2025.

c) The Company has obtained a term loan (COVID facility) of ^ 401.34 Lakhs and another term loan of ^ 200.60
Lakhs from HDFC Bank Limited to meet liquidity mismatches arising due to the COVID-19 pandemic. The loan of ^
401.34 Lakhs is repayable in equal monthly installments of R 12.62 Lakhs, commencing from September 2021, and
is scheduled to be fully repaid by September 2024. The loan of ^ 200.60 Lakhs, is repayable in equal monthly
installments of K 06.32 Lakhs, commencing from September 2024, and is scheduled to be fully repaid by September
2027.

Nature of Securities and Terms of Repayments

a) The working capital loan from HDFC Bank Limited is secured by a first pari-passu charge by way of hypothecation
over the entire inventories, book debts, receivables, and other current assets of the Company, both present and
future. These credit facilities are further secured by a first pari-passu equitable mortgage on immovable property
comprising factory land situated at Khasara No. 83, Gram Panchayat Nos. 208 and 209, Mouza Bidgaon, Kamptee,
which is held in the name of Director, Shri Pravin Navalchand Choudhary. Additionally, a first pari-passu charge has
been created on the factory building constructed by the Company on the aforesaid land. The credit facilities are also
secured by the unconditional and irrevocable personal guarantees of two Directors, Shri Pravin Navalchand
Choudhary and Shri Jayesh Pravin Choudhary.

** Acceptances include arrangements, wherein the Company''s operational suppliers of goods and services are
initially paid by banks or financial institutions, while the Company continues to recognize the corresponding
liabilities, until settlement with the respective banks or financial institutions. Such settlements are normally
effected within a period of 90 days. The amount outstanding under such arrangements as at the reporting date is ^
NIL (Prev Year ^ NIL).

*** The Company has certain dues to the suppliers of Micro, Small and Medium Enterprises Development Act, 2006
("MSMED Act 2006"). The disclosure pursuant to the said MSMED Act, 2006 are as follows:

Peformance Obligations

Sale of Products: Performance obligation in respect of sale of goods is satisfied, when the controls of the goods is
transferred to the customers, generally on delivery of the goods and payment is generally due as per the term of
contracts with the customers.

Sale of Services: Performance obligation in respect of sale of services is satisfied over a period of time and the
acceptance from the customers. In respect of these services, payment is generally due upon the completion of
services and acceptance from the customers.

32 Consolidated Financial Statements

During the reporting period and the previous reporting period presented under the Ind AS Financial Statements, the
Company did not have any Subsidiaries, Associates, or Joint Ventures. Accordingly, the disclosure requirements
under Ind AS 110 - "Consolidated Financial Statements" are not applicable to the Company.

33 Segment Reporting

During the reporting period and the previous reporting period presented in the Ind AS Financial Statements, the
Company operated in a single business segment, namely, the manufacturing and trading of tutti frutti and other
agricultural commodities. Accordingly, the disclosure requirements under Ind AS 108 - "Operating Segments" are
not applicable to the Company for the periods presented in the financial statements.

36 Right Issue of Equity Shares

The Company issued 50,90,056, equity shares of the face value of '' 10.00 each on right basis ("Right Equity Share") to
eligible equity shareholders at an issue price of '' 25.00 per share, including a premium of '' 15.00 per share. In
accordance with the terms of issue, '' 06.25 per Right Equity Shares (i.e. 25% of the issue price), was received from the
respective allottees at the time of the application, upon which the shares were allotted. The Board of Directors
resolved to raise the balance amount through two subsequent calls, a First Call of '' 08.75 per Right Equity Shares
(Including a premium of'' 05.25 per shares) and Second and Final Call of'' 10.00 per Right Equity Shares (Including a
premium of '' 06.00 per shares). As at March 31, 2025, an amount of '' 06.01 Lakhs is unpaid in respect of Right Issue.

On October 6, 2023, the Company allotted 15,90,642, fully paid-up equity shares of face value ^ 10 each at an issue
price of ^ 40.00 per share (including a premium of ^ 30 per share), aggregating to ^ 636.26 lakhs. The allotment was
made on a rights basis to the existing equity shareholders of the Company in the ratio of 1:7, i.e., one equity share for
every seven equity shares held by eligible shareholders as on the record date. The issue was fully subscribed. The
basic and diluted earnings per share for the period ended March 31, 2025, and March 31, 2024, have been adjusted
to reflect the bonus element inherent in the rights issue. The proceeds from the rights issue have been utilized in
accordance with the objectives stated in the Offer Document.

i) Financial Instruments measured at Fair Value through Other Comprehensive Income

The Company does not hold any quoted equity shares, or quoted / unquoted debentures or bonds that
are required to be measured at fair value through other comprehensive income (FVTOCI). Accordingly,
the requirements of Ind AS 109, "Financial Instruments" relating to the fair value measurement under
FVTOCI are not applicable to the Company for all the reporting periods presented in the Ind AS Financial
Statements.

ii) Financial Instruments measured at Fair Value through Profit or Loss

The Company does not hold any unquoted equity shares (other than investments in associates,
subsidiaries and joint ventures which are being measured at amortized cost), foreign currency forward
exchange contracts, or quoted / unquoted mutual funds that are required to be measured at fair value
through profit or loss (FVTPL). Accordingly, the requirements of Ind AS 109, "Financial Instruments"
relating to fair value measurement under FVTPL are not applicable to the Company for all the reporting
periods presented in the Ind AS Financial Statements.

The Company does not have any financial liabilities that are required to be measured at fair value through
profit or loss (FVTPL). Accordingly, the requirements of Ind AS 109, "Financial Instruments" relating to
fair value measurement of financial liabilities under FVTPL are not applicable to the Company for all the
reporting periods presented in the Ind AS Financial Statements.

iii) Financial Instruments measured at Amortized Costs

The carrying amounts of financial assets and financial liabilities measured at amortized cost, as
presented in the financial statements, reasonably approximate their fair values. This is because the
Company does not expect any significant difference between the carrying amounts and the amounts that
would ultimately be received or settled.

“Note No. - 36B” - Financial Risk Management - Objectives and Policies

The Company''s principal financial assets primarily include of security deposits, cash and cash
equivalents, other balances with banks, loans, trade and other receivables, which arise directly from its
business operations. The Company''s financial liabilities mainly consist of borrowings in Indian currency,
trade payables and other payables. These financial liabilities are primarily used to finance the Company''s
operational activities and to provide guarantees in support of its business operations.

The Company is exposed to market risk, credit risk, and liquidity risk arising from its financial
instruments. The Board of Directors (“the Board”) is responsible for overseeing the management of these
financial risks. The Company has a risk management policy, formulated by its management and approved
by the Board, which outlines the Company''s approach to managing uncertainties in its efforts to achieve
both stated and implicit objectives. The policy defines the roles and responsibilities of the Company''s

3) Liquidity Risk

Liquidity risk is the risk that the Company will face difficulty in meeting its financial obligations as they
become due, either by being unable to raise funds or to sell financial assets quickly without significant
loss in value. This risk arises from the possibility that the Company may not have sufficient cash flows to
meet its contractual obligations associated with financial instruments that are required to be settled in
cash or other financial assets. Liquidity risk may also result from an inability to dispose of financial assets
at or near their fair value when needed.

The Company has an established liquidity risk management framework for managing its short -term,
medium - term and long - term funding and liquidity management requirements. The Company''s
exposure to liquidity risk arises primarily from mismatched of maturities of financial assets and
liabilities. The Company manages the liquidity risk by maintaining adequate funds in the cash and cash
equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there is
sufficient cash to meet all its normal operating commitments in a timely and cost-effective manner.

“Notes - 36C” - Capital Management

The Company adheres to a robust Capital Management framework which is underpinned by the following
guiding principles.

a) Maintain the financial strength to ensure good ratings domestically and investment grade ratings
internationally.

b) Ensure financial flexibility and diversify the source of financing and their maturities to minimize
liquidity risk while meeting its investment requirements.

c) Ensure sufficient liquidity is available (either through cash and cash equivalents, investments or
committed credit facilities) to meet the needs of the business.

d) Minimize the finance costs while taking into consideration current and future industry, market and
economic risks and conditions.

e) Safeguard its ability to continue as going as a going concern.

f) Leverage optimally in order to maximize shareholder''s returns while maintaining strength and
flexibility of the Balance Sheet.

This framework is adjusted based on underlying macro-economic factors affecting the business
environment, financial market conditions and interest rates environment.

The Board of Directors of the Company has primary responsibilities to maintain a strong capital base and
reduce the cost of capital through prudent management of deployed fund and leveraging in domestic and
international financial market, so as to maintain investors, creditors and market confidence and to
sustain future development of the business.

For the purpose of the Company''s capital management, capital include issued equity capital and all other
equity reserves attributable to equity shareholders of the Company. The primary objective of the
Company, when managing capital is to safeguard its ability to continue as a going concern and to maintain
an optimal capital structure so as to maximize shareholders value.

As at March 31, 2025 and March 31, 2024, the Company has only one class of equity shares and has low
debts. Consequent to such capital structure, there are no externally imposed capital requirements. In
order to maintain or achieve an optimal capital structure, the Company allocates its capital for
distribution as dividends or reinvestments into business based on its long-term financial plans.

The Company manages its capital on the basis of Net Debt to Equity Ratio which is Net Debt (Total
Borrowings net of Cash and Cash Equivalents) divided by total equity.

Terms and Conditions with the transactions with Related Parties as under:

a) The Company has been entering into transactions with the related parties for its business purpose.
The process followed for entering into transactions with these related parties are same as followed for
the unrelated parties. Vendors are selected competitively having regard to strict adherence to quality,
timely servicing and cost advantage. Further related party vendors provide additional advantage in
terms of:

i) Supplying products primarily to the Company

ii) Advanced and innovative technology

iii) Customization of products to suit the Company''s specific performance;

iv) Enhancement of the Company''s purchase cycle and assurance of just in time supply with resultant
benefits - notably on working capital.

b) The sales to and purchases from the related parties are made on the term''s equivalents to and those
applicable to all unrelated parties on the arm''s length transactions.

c) Outstanding balances of the related parties at the end of the reporting period are unsecured, interest
free and will be settled in the cash on demand basis.

Transaction with Related Parties is as under:

"Note No. 43 - Additional Regulatory Information as required by the Schedule - III of the
Companies Act, 2013”

i) The Company has used the borrowings from banks and financial institutions for the specific purpose
for which it was taken as at the balance sheet date. The Company has not defaulted in the repayment of
principal and interest thereon on all the loans obtained from banks and financial institutions during the
reporting period and previous reporting period.

ii) The title deed in respect of self-constructed building and title deeds of all other immovable properties
(other than properties where the Company is the lessee and the lease agreements are duly executed in
the favor of the Company), disclosed in the Financial Statements and included under the head of property,
plant and equipment are held in the name of the Company as at the Balance Sheet date. In respect of the
immovable properties taken on lease by the Company, the lease agreements are duly executed in the
favor of the Company as at the Balance Sheet date.

iii) There are no loans and advances in the nature of loans are granted to promoters, directors, key
managerial parties and the other related parties including the subsidiaries, associates and joint ventures
(as defined under the Companies Act, 2013), either severally and jointly with any other person that are:

a) repayable on demand or;

b) without specifying any terms or period of repayments.

iv) The Company does not have benami property held in its name. No proceedings have been initiated on
or are pending against the Company for holding benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and the relevant Rules made thereunder.

v) The Company has been sanctioned working capital limit from bank and financial institutions on the
basis of security of current assets. The monthly / quarterly returns and the statements filed by the
Company with such banks and financial institutions are in agreements with the books of accounts of the
Company. During the reporting period, the Company has not utilized the sanction working capital
facilities from banks and financial institutions, hence requirement to report under this clause is not
applicable in case of the Company.

vi) The Company has not been declared as willful defaulter by the banks and the financial institutions or
other lenders or government or any government authorities.

vii) The Company has not entered any transactions with the companies struck off as per section 248 of
the Companies Act, 2013 or Section 560 of the Companies Act, 2013, hence the details related to the same
have not been furnished.

viii) The Company does not have any charges or satisfaction of charges which is yet to be registered with
the Registrar of Company beyond the statutory period.

ix) The Company has complied with the requirements with respect to the number of layers as prescribed
under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of
layers) Rules, 2017.

x) Utilization of borrowed funds and share premium

1) The Company has not advanced or loaned or invested funds to any other persons or entities, including
foreign entities (intermediaries) with the understanding that the intermediaries shall:

a) 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;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

2) The Company has not received any funds from persons or entities, including foreign entities (Funding
Parties) with the understanding (whether recorded in writing or otherwise) that the Company shall:

a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the Funding Party (Ultimate Beneficiaries) or;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

xi) There have been no transactions relating to previously unrecorded income that have been
surrendered or disclosed as income during the reporting period and previous reporting period in the tax
assessments under the Income Tax Act, 1961.

xii) The Company has neither traded nor invested nor advanced in Crypto or Virtual Currency during the
reporting period and previous reporting period.

44 Employee Benefits

1 Post Employment Benefits

i) Defined Benefit Gratuity Plan (Unfunded)

The Company has defined benefits gratuity plan for its employees, which requires the contribution to be made to a
separately administered fund. It is governed by the Payment of Gratuity Act, 1972. Under the Act, an employee who
has completed five year of services are only entitled for the specific benefits. The level of benefits provided depend
upon the member''s length of service and salary at their retirement age.

ii) Defined Benefit Pension Plan (Unfunded)

The Company operates a defined benefits pension plan for the certain specified employees and the same is payable
upon if the employee satisfying certain terms and conditions attached to them, as approved by the Board of
Directors of the Company.

iii) Defined Benefit Post Retirement Medical Benefit Plans (Unfunded)

The Company operates a defined benefits post - retirement medical benefits plan for the certain specified
employees and the same is payable upon if the employee satisfying the certain terms and conditions attached to
them, as approved by the Board of Directors of the Company.

The most recent actuarial valuation of the plan assets and the present value of defined benefit obligation were carried out
as at March 31, 2025, by Mrs. Ruchi Goel Chhatlani, Fellow of Institute of Actuaries of India. The present value of defined
benefits obligation and their related current service cost were measured by using the "Project Cost Unit Method".

The following tables summarise the components of defined benefits expense recognized in the Statement of Profit and
Loss / Other Comprehensive Income and the amount recognized in the Balance Sheet for the respective plans:

2 Defined Contribution Plans
i) Provident Fund

The Provident Fund assets and liabilities are managed by the Company in line with the Employees'' Provident Fund
and Miscellaneous Provision Act, 1952.

The plan guarantees a minimum interest rate as notified by the Provident Fund authorities. Contributions made by
both the employer and employee, along with the interest accrued thereon, are payable to the employee upon
separation from the Company or upon retirement, whichever occurs earlier. The benefits vest immediately upon
rendering of service by the employee. In accordance with the Guidance Note issued by the Institute of Actuaries of
India, for the measurement of provident fund liabilities, the Company has obtained an actuarial valuation of its
provident fund obligations based on the assumptions provided. As At March 31, 2025, there is no shortfall in the
contribution made to the fund.

46 Corporate Social Responsibility

The Company does not fall within the purview of the eligibility criteria prescribed under Section 135 of the
Companies Act, 2013. Accordingly, the provisions relating to Corporate Social Responsibility are not applicable to
the Company for the current as well as the previous reporting period.

The Code of Social Security, 2020 (the"Code") relating to employee benefits during employement and post -
employment benefits has received the Presidential assent on September 28, 2020. The Code has been published in

the Offical Gazzate of India. However, the date on which the Code will come into effect has not been notified and

47

the final rules / interpretation have not yet been issued. The Company will assess the impact of the Code when it
comes into effect and will record any related impact in the period the Code becomes effective. Based on the
preliminary assessment, the entity believes the impact of such changes will not be significant.

^ Details of Hedged and Unhedged Exposures in Foreign Currency Denominated
Monetary Items

A) Exposure in Foreign Currency - Hedged

The Company does not enter into forward exchange contracts to hedge its foreign currency exposures relating to
underlying transactions and firm commitments. Further, the Company has not entered into any derivative
instruments for trading or speculative purposes during the current and previous reporting periods presented in
the financial statements.

B) Exposure in Foreign Currency - Unhedged

The Company does not have any unhedged foreign currency exposures as at the end of the current or previous
reporting periods, either in the form of receivables or payables. Accordingly, the requirement to report under this
clause is not applicable to the Company.

MATERIAL ACCOUNTING POLICIES 1

THE ACCOMPANYING NOTES ARE FORMING INTEGRAL PART OF THE FINANCIAL STATEMENTS

AS PER OUR REPORT OF EVEN DATE ATTACHED FOR AND ON BEHALF OF THE BOARD

For MANISH N JAIN & CO. PRAVIN CHOUDHARY JAYESH CHOUDHARY

Chartered Accountants Director Director

FRN No.: 0138430W DIN No.: 01918804 DIN No.: 02426233

ARPITAGRAWAL SAKSHITIWARI RISHI UPADHAYA

Partner Chief Financial Officer Company Secretary

Membership No. 175398

Place: Nagpur

Dated: May 28,2025 Place: Nagpur Place: Nagpur

UDIN No.: 25175398BMIEJQ4300 Dated: May 28, 2025 Dated: May 28, 2025

---

Mar 31, 2024

o) Provisions and Contingencies

The Company recognizes provisions when a present obligation (legal or constructive) as a result a past event exists, and it is probable that an outflow of resources embodying economic benefits will be required to settle such obligation and the amount of such obligation can be reliably estimated.

If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liabilities. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured reliably. When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying economic benefits is remote, no provision or disclosure is made.

A provision is recognized if, as a result of a past event, the Company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liabilities.

p) Event after Reporting Date

Where events occurring after the balance sheet date provide evidence of condition that existed at the end of reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after the balance sheet date of material size or nature are only disclosed.

All the events occurring after the balance sheet date up to the date of the approval of the financial statement of the Company by the board of directors on May 24, 2024, have been considered, disclosed and adjusted, wherever applicable, as per the requirement of Indian Accounting Standards.

q) Cash Flow Statements

Cash flows statements are reported using the method set out in the Ind AS - 7, "Cash Flow Statements", whereby the net profit / (loss) before tax is adjusted for the effects of the transactions of a non-cash nature, any deferrals or accrual of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

r) Cash and Cash Equivalents

Cash and cash equivalents include cash and cheques-in-hand, balances with banks, and demand deposits with banks where the original maturity is three months or less and other short-term highly liquid investments net of bank of overdrafts which are repayable on demand as these from an integral part of the Company''s cash management.

1.5 RECENT ACCOUNTING PRONOUNCEMENT

Ministry of Corporate Affairs (“the MCA”) notifies new standards or amendments to the existing standards under the Companies (Indian Accounting Standard) Rules as issued from time to time. For the period March 31, 2024, the MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

1.6 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of the Company''s financial statements is in conformity with the Ind AS, which requires the Company''s management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of the assets, liabilities, income and expenses (including the contingent liabilities) and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities effected in future periods. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on a periodic basis. Revision to accounting estimates is recognized in the period in which the estimates are revised and in any future periods affected.

The key assumptions concerning the future and other key resources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year, are described as follow:

a) Income Tax: The Company''s tax jurisdiction is in India. Significant judgments are involved in estimating budgeted profits for the purpose of paying advance tax, determining the income tax provisions, including the amount expected to be paid / recovered for uncertain tax provisions (Refer "Note No. 18").

b) Property, Plant and Equipment: Property, plant and equipment represent a significant proportion of the assets base of the Company. The charge in respect of periodic depreciation is derived after determining an estimate of an asset''s expected useful life and the expected residual value at the end of its life. The useful lives and residual values of Company assets are determined by the Company''s management at the time the assets are acquired and reviewed periodically, including at each financial year end. The useful lives of each of these assets are based on the life prescribed in Schedule II to the Companies Act, 2013 or based on the technical estimates, taken into the account the nature of the assets, estimated usage, expected residual values and operating conditions of the assets. The useful

lives are based on historical experience with the similar assets as well as anticipation of future events, which may impact their life, such as changes in technical or commercial obsolescence arising from changes or improvements in production or from a change in market demand of the product or service output of the assets.

c) Fair Value measurements of Financial Instruments: When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques, including the discounted cash flow model, which involve various judgements and assumptions. The input to these models is taken from observable markets wherever possible, where this is not feasible, a degree of judgement is required in establishing fair value. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of the financial instruments.

d) Recoverability of Trade Receivables: Judgment is required in assessing the recoverability of overdue trade receivables and determining whether a provision is against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payments.

e) Provisions and Contingent Liabilities: The Company''s management estimates the provision that have present obligation as a result of past events, and it is probable that outflow of resources will be required to settle the obligation. These provisions are reviewed at the end of each reporting period and are adjusted to reflect the current best estimates.

The Company uses significant judgements to assess contingent liabilities. Contingent liabilities are disclosed when there is 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 controls 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 the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor disclosed in the financial statements.

f) Impairment of Financial and Non - Financial Assets: The impairment provision of financial assets is based on the assumptions about the risk of default and expected cash loss rates. The Company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on the Company''s history, existing market conditions as well as forward looking estimates at the end of the reporting period.

In case of non-financial assets, the Company estimates asset''s recoverable amount, this is higher of an assets or cash generating units (CGU) fair value less the cost of disposal and the value-in-use. In assessing the value-in-use, the estimated future cash flows are discounted using the pre-tax discount rate that reflects current market assessments of the time value of money and the risk specific to the assets. In determining the fair value less cost of disposal, recent market transactions are taken into account, if no such transactions can be identified, an appropriate valuation model is being used.

g) Recognition of Deferred Tax Assets and Liabilities: Deferred tax assets and liabilities are recognized for deductible temporary differences and unused tax losses or unused tax credit for which there is probability of utilization against the future taxable profits. The Company uses judgements to determine

the amount of deferred tax that can be recognized, based upon the likely timing and the level of future taxable profits and business developments.

h) Defined Benefits Obligations: The costs of providing gratuity and other post-employment benefits are charged to the statement of profit and loss in accordance with Ind AS - 19, "Employee Benefits" over the period during which benefit is derived from the employees'' services. It is determined by using the actuarial valuation and assessed on the basis of assumptions selected by the Company''s management. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These assumptions include salary escalation rate, discount rates, expected rate of return on assets and mortality rates. The same is disclosed in "Note No. 44", "Employee Benefits". Due to complexities involved in the valuation and its long-term in nature, a defined benefit obligation is highly sensitive to change in these assumptions. All assumptions are reviewed at each balance sheet date by the Company''s Management.

Nature of Securities and T erms of Repayments

a) Term loan from HDFC Bank Limited are secured by first pari-passu charge on both present and future property, plants and equipments of the Company and these credit facilities are further secured by way of first pari-passu charge on immovable property, plants and equipments including the equitable mortagage of factory land and building situated at Khasara No. 83, Gram Panchayat No. 208 and 209 situated at Mouza Bidgaon, Kamptee held in the name of the Shri Pravin Choudhary, Managing Director of the Company. The said Loan is repayable in 18 quarterly installments of '' 53.29 Lakhs.

b) Term loan from HDFC Bank Limited amounting to '' 809.89 Lakhs has been obtained for the purpose of construction and acquisition of property, plants and equipments held in the name of the Company and GECL loans amounting to '' 401.34 Lakhs and '' 200.60 Lakhs has been obtained to meet the liquidity mismatch arising out of the COVID - 19.

c) Term loan from HDFC Bank Limited amounting to '' 809.89 Lakhs are repaid on 18 equal quarterly installments of '' 53.29 Lakhs and the same has been repaid full on or before November 2025. GECL loans amounting to '' 401. 34 Lakhs and '' 200.60 Lakhs from HDFC Bank Limited are to be repaid on equal monthly installments commencing from September 2021 and September 2024 respectively and the same has to be repaid full on or before September 2024 and September 2027. The monthly installments of the GECL loans are amounting to '' 12.62 Lakhs and '' 06.32 Lakhs.

d) All the loans are further secured by the unconditional and irrevocable personal guarantees of two of the Directors, Shri Pravin Navalchand Choudhary and Shri Jayesh Pravin Choudhary.

On October 06, 2023, the Company allotted 15,90,642 fully paid up equity shares having a face value of '' 10 each at a issue price of '' 40 per right equity shares (including premium of '' 30 per right equity shares) aggregating to ''

636.26 Lakhs on a right basis to the existing equity shareholders of the Company in the ratio 1:7 right equity shares i.e. 1 (one) equity shares for every 7 (seven) equity shares held by the eligible equity shareholders on the record date. The issue was fully subscribed. The basis and diluted earnings per share for the period ended March 31, 2024 and March 31, 2023 have been adjusted appropriately for the bonus elements in respect of right issue. The Right issue proceeds has been utilized is in line with the object of the issue stated in the Offer Documents.

“Note No. - 36A" - Fair Value Measurements

i) Financial Instruments measured at Fair Value through Other Comprehensive Income

The Company has neither held quoted equity shares nor held quoted or unquoted debentures or bonds, which are being measured at Fair Value through Other Comprehensive Income (FVTOCI), so the requirement to report under the Ind AS - 109, "Fair Value" is not applicable to the Company for all the reporting periods presented in the Ind AS financial statements.

ii) Financial Instruments measured at Fair Value through Profit or Loss

The Company has neither held unquoted equity shares (other than investments in associates, which are being measured at amortized costs) nor held foreign currency forward exchange contracts nor held quoted or unquoted mutual funds, which are being measured at Fair Value through Profit and Loss (FVTPL), so the reporting under the Ind AS - 109, "Fair Value" is not applicable to the Company for all the reporting periods presented in the Ind AS financial statements.

The Company has not any financial liabilities, which are being measured at Fair Value through Profit or Loss (FVTPL), so the reporting under the Ind AS - 109, "Fair Value" is not applicable to the Company in respect of all the reporting periods presented in Ind AS financial statements.

iii) Financial Instruments measured at Amortized Costs

The carrying amount of financial assets and financial liabilities measured at amortized cost in the presented financial statements, which are a reasonable approximation of the fair value since the Company does not anticipate that the carrying amounts would be significantly different from the value that would eventually be received or settled.

“Note No. - 36B" - Financial Risk Management - Objectives and Policies

The Company''s principal financial assets mainly comprise of security deposits, cash and cash equivalents, other balances with banks, loans, trade receivable and other misc. receivables that derive directly from its business operations. The Company''s financial liabilities mainly comprise loans and borrowings in domestic currency, trade payables and other payables. The main purpose of these financial liabilities is to finance the Company''s business operations and to provide guarantees to support its operations.

The Company is exposed to Market Risk, Credit Risk and Liquidity Risk from its financial instruments. The Board of Directors (“the Board”) oversees the Company''s Management of these financial risks. The risk management policy of the Company formulated by the Company''s Management and approved by the Board of Directors, which states that the Company''s approach to address uncertainties in its endeavor to achieve its stated and implicit objectives. It prescribes the roles and responsibilities and the Company''s Managements, the structure for managing the risk and the framework for risk management. The framework seeks to identify, assess and mitigate financial risk in order to minimize the potential adverse effect on the Company''s financial performance. The Board has taken necessary actions to mitigate the risks identified on the basis of information and situation presented.

The following disclosures summarize the Company''s exposure to financial risks and the information regarding use of derivatives employed to manage the exposures to such risks. Quantitative sensitivity analysis has been provided to reflect the impact of reasonably possible changes in market rate on financial results, cash flows and financial positions of the Company.

1) Market Risk

Market Risk is the risk that the fair value of future cash flows of financial instruments will fluctuate because of changes in market prices. Market risk comprises three types of Risk: "Interest rate risk, Currency risk and Other price risk". Financial instruments affected by the market risk include loans and borrowings in domestic currency, trade payable and other payables and trade receivables.

a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash outflows of a financial instrument will fluctuate because of changes in market interest rates. An upward movement in the interest rate would adversely affect the borrowing costs of the Company. The Company is exposed to long-term and short-term borrowings. The Company manages interest rate risk by monitoring its mix of fixed and floating rate instruments and taking actions as necessary to maintain an appropriate balance. The Company has not used any interest rate derivatives.

b) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash outflows of an exposure will fluctuate due to changes in foreign exchange rates. The Company operates globally, and the portion of the business is transacted in several currencies and consequently the Company is exposed to foreign exchange risk through its sales in overseas and purchases from overseas suppliers in various foreign currency. The foreign currency exchange rate exposure is partly balanced by purchasing the goods in the respective currencies, if any. During the reporting period presented under the financial statements, the Company has not any outstanding which impact the Foreign Currency Risk.

c) Other Price Risk

Other price risk is the risk that the fair value of a financial instruments will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments in quoted equity instruments and bonds. The Company is exposed to price risk arising mainly from investments in quoted equity instruments recognized at FVTOCI, if any. As at March 31, 2024, the carrying value of such equity instruments recognized at amounts FVTOCI amounts to '' NIL (March 31, 2023 '' NIL).

2) Credit Risk

Credit risk refers to the risk that the counterparty will default on its contractual obligations resulting in financial losses to the Company. Credit risk arises primarily from financial assets such as trade receivables, cash and cash equivalents, other balances with banks, other financial assets, and loans.

The Company has adopted a policy of only dealing with counterparties that have a sufficiently high credit rating. The Company''s exposure and credit ratings of its counterparties are continuously monitored and the aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from term deposits and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognized financial institutions with the high credit rating assigned by the international credit rating agencies.

The average credit period on sale of products is less than 60 days. Credit risk arising from trade receivable is managed in accordance with the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on detailed study of credit worthiness and accordingly individual credit limits are defined / modified. The concentration on credit risk is limited, due to the fact that the customer base is large. For trade receivables, as a practical expedient, the Company computes credit loss allowance based on the provision matrix. The provision matrix is prepared on historically observed default rate over the expected life of trade receivable and is adjusted for forward-looking estimates. The provision matrix at the end of reporting

3) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value.

The Company has an established liquidity risk management framework for managing its short-term, medium-term and long-term funding and liquidity management requirements. The Company''s exposure to liquidity risk arises primarily from mismatched of the maturities of financial assets and liabilities. The Company manages the liquidity risk by maintaining adequate funds in the cash and cash equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there is sufficient cash to meet all its normal operating commitments in a timely and cost-effective manner.

The Company believes that its liquidity positions {As at March 31, 2024 '' 30.72 Lakhs (Prev Year '' 36.42 Lakhs)}, anticipated future internally generated funds from operations, and its fully available revolving undrawn credit facilities will enable it to meet its future known obligations in the ordinary course of business. However, if liquidity needs were to arise, the Company believes it has excess to financing arrangements, value of unencumbered assets, which should unable, it to meet its ongoing capital, and other liquidity requirements.

The liquidity position of the Company mentioned above, includes;

i) Cash and Cash Equivalents as disclosed in the Cash Flow Statements

ii) Current / Non-current term deposits as disclosed in the financial assets The Company''s liauidity position monitored by the management, includes:

“Notes - 36C" - Capital Management

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles.

a) Maintain the financial strength to ensure good ratings domestically and investment grade ratings internationally.

b) Ensure financial flexibility and diversify source of financing and their maturities to minimize liquidity risk while meeting investment requirements.

c) Ensure sufficient liquidity is available (either through cash and cash equivalents, investments or committed credit facilities) to meet the needs of businesses.

d) Minimize the finance costs while taking into consideration current and future industry, market and economic risks and conditions.

e) Safeguard its ability to continue as going as a going concern.

f) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance Sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environments, financial market conditions and interest rates environment.

The Board of Directors of the Company has primary responsibilities to maintain a strong capital base and reduce the cost of capital through prudent management of deployed fund and leveraging in domestic and international financial market, so as to maintain investors, creditors and market confidence and to sustain future development of the business.

For the purpose of the Company''s Capital Management, capital includes issued Equity Capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company, when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholders value.

As At March 31, 2024, the Company has only one class of equity shares. Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividends or reinvestment into business based on its long-term financial plans.

The Company manages its capital on the basis of Net Debt to Equity Ratio which is Net Debt (Total Borrowings net of Cash and Cash Equivalents) divided by total equity.

T erms and Conditions with the transactions with Related Parties as under:

a) The Company has been entering into transactions with the related parties for its business purpose. The process followed for entering into transactions with these related parties are same as followed for the unrelated parties. Vendors are selected competitively having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantage in terms of:

i) Supplying products primarily to the Company

ii) Advanced and innovative technology

iii) Customization of products to suit the Company''s specific performance;

iv) Enhancement of the Company''s purchase cycle and assurance of just in time supply with resultant benefits - notably on working capital.

b) The sales to and purchases from the related parties are made on the term''s equivalents to and those applicable to all unrelated parties on the arm''s length transactions.

c) Outstanding balances of the related parties at the end of the reporting period are unsecured, interest free and will be settled in the cash on demand basis.

“Note No. 42 - Additional Regulatory Information as required by the Schedule - III of the Companies Act, 2013”

i) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken as at the balance sheet date. The Company has not defaulted in repayment of principal and interest thereon on all the loans obtained from banks and financial institutions, during the reporting period and previous reporting period.

ii) The title deed in respect of self-constructed building and title deeds of all other immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in the favor of the Company), disclosed in the financial statement and included under the head of property, plant and equipment are held in the name of the Company as at the Balance Sheet date. In respect of the immovable properties taken on lease by the Company, the lease agreements are duly executed in the favor of the Company as at the Balance Sheet date.

iii) There are no loans and advances in the nature of loans are granted to promoters, directors, key managerial parties and the other related parties including the subsidiaries, associates and joint ventures (as defined under the Companies Act, 2013), either severally and jointly with any other person that are:

a) repayable on demand or;

b) without specifying any terms or period of repayments.

iv) The Company does not have benami property held in its name. No proceeding has been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the relevant Rules made thereunder.

v) The Company has been sanctioned working capital limit from bank and financial institutions, on the basis of security of current assets. The quarterly returns and the statements filed by the Company with the banks and financial institutions are in agreement with the books of accounts of the Company.

vi) The Company has not been declared as a willful defaulter by the banks and the financial institutions or other lender or government or any government authorities.

vii) The Company has not entered any transactions with the companies struck off as per section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 2013, hence the details related to the same have not been furnished.

viii) The Company does not have any charges or satisfaction of charges, which is yet to be registered with the Registrar of Company beyond the statutory period.

ix) The Company has neither subsidiaries nor associates and joint ventures, hence the requirements with respect to the number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017 is not applicable.

x) Utilization of borrowed funds and share premium.

1) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (intermediaries) with the understanding that the intermediaries shall:

a) 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;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

2) The Company has not received any funds from persons or entities, including foreign entities (Funding Parties) with the understanding (whether recorded in writing or otherwise) that the Company shall:

a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

xi) There have been no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the reporting period and previous reporting period in the tax assessments under the Income Tax Act, 1961.

xii) The Company has neither traded nor invested nor advanced in Crypto or Virtual Currency during the reporting period and previous reporting period.

“Note No. 43 - Corporate Social Responsibility

As per the Section 135 of the Companies Act, 2013, a Company, which meeting its applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate Social Responsibility (CSR) Activities. The area of CSR Activity are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A Corporate Social Responsibility (CSR) Committee has been formed as per the requirement of the Companies Act, 2013. The fund has been administrated by the committee, once it is allocated to the Corpus for the purpose of CSR Activities prescribed under Schedule - VII of the Companies Act, 2013. The Company does not meet the eligibility criteria as specified under section 135 of the Companies Act, 2013, hence the reporting under this clause is not applicable to the Company for all the reporting period presented in the financial statements.

44 Employee Benefits 1 Post Employment Benefits

i) Defined Benefit Gratuity Plan (Unfunded)

The Company has defined benefits gratuity plan for its employees, which requires the contribution to be made toa separately administered fund. It is governed by the Payment of Gratuity Act, 1972. Under the Act, an employee who has completed its five year of services is the only entitled for the specific benefits. The level of benefits provided depend on the member''s length of service and salary at the retirement age.

ii) Defined Benefit Pension Plan (Unfunded)

The Company operates a defined benefits pension plan for the certain specified employees and the same is payable upon, if the employee satisfying the certain terms and conditions attached to them, as approved by the Board of Directors of the Company.

The most recent actuarial valuation of the plan assets and the present value of defined benefits obligation were carried out as at March 31, 2024 by Mrs. Ruchi Goel Chhatlani, Fellow of Institute of Actuaries of India. The present value of defined benefits obligation and their related current service cost were measured by using the "Project Cost Unit

The following tables summaries the components of defined benefits expense recognized in the Statement of Profit and Loss / Other Comprehensive Income and the amount recognized in the Balance Sheet for the respective plans:

2 Defined Contribution Plans i) Provident Fund

The Provident Fund assets and liabilities are managed by the Company in line with the Employees'' Provident Fund and Miscellaneous Provision Act, 1952.

The plan guarantees minimum interest at the rate notified by the Provident Fund Authorities. The contribution made by the employer and employee together with interest accumulated thereon are payable to the employees at the time of separation from the Company or their retirements, whichever is earlier. The benefits vest immediately on the rendering of the service by the employee. In term of Guidance Note issued by the Institute of Actuaries of India for measurement of provident fund liabilities, the Actuary has provided a valuation of provident fund liabilities and based on assumptions provided. There is no Shortfall in the contribution as at March 31, 2024.

a) Estimated amount of Contracts remaining to be executed on Capital Account, net of advances given and not provided for as at March 31, 2024 is '' 53.43 Lakhs (Prev Year ''NIL).

b) Estimated amount of Commitments as at March 31, 2024 is '' 53.43 Lakhs (Prev Year ''NIL).

Details of Hedged and Unhedged Exposures in Foreign Currency Denominated 48 Monetary Items

A) Exposure in Foreign Currency - Hedged

The Company does not enters into forward exchange contracts to hedge its foreign currency exposures relating to the underlying transactions and the firm commitments. The Company also does not enter into any derivative instruments for trading and speculation purposes during the reporting period and previous reporting period presented in the financial statements.

B) Exposure in Foreign Currency - Unhedged

The Company does not have any unhedged foreign currency exposures as at the reporting period and previous reporting period, either in the form of receivables or payable. Hence, the requirement to report under this clause is not applicable to the Company.

* Refer "Note No. 35" for further reference

50 The Financial Statements are approved for issue by the Audit Committee at its meeting held on May 24, 2024 and by the Board of Directors on their meeting held on May 24, 2024.

51 Previous years audited figures has been regrouped / recasted / rearranged, wherever necessary to make them comparable for the purpose of preparation and presentation of Financial Statements.

SIGNATURE TO THE NOTE "1" TO NOTE "51"_

MATERIAL ACCOUNTING POLICIES 1

THE ACCOMPANYING NOTES ARE FORMING INTEGRAL PART OF THE FINANCIAL STATEMENTS

AS PER OUR REPORT OF EVEN DATE ATTACHED FOR AND ON BEHALF OF THE BOARD

For MANISH N JAIN & CO. PRAVIN CHOUDHARY JAYESH CHOUDHARY

Chartered Accountants Director Director

FRN No.: 0138430W DIN No.: 01918804 DIN No.: 02426233

MANISH JAIN SAKSHI TIWARI SAGAR DARRA

Partner Chief Financial Officer Company Secretary

Membership No. 118548

Place: Nagpur

Date: May 24, 2024 Place: Nagpur Place: Nagpur

UDIN No.: 24118548BKACWE6328 Date: May 24, 2024 Date: May 24, 2024

---

Mar 31, 2023

Peformance Obligations

Sale ul Ptuducts: Pei lui mai ice ubligd licit mi i i expect ul idle Ol goodi iJ satisfied when the controls ul the guuds is transferred to the customers, generally on delivery of the goods and payment is generally due as per the term of contracts with customers.

Sale of Services: Performance obligation in respect of sale of services is satisfied over a period of time and the acceptance of the customers. In respect of these services, payment is generally due upon the completion of services and acceptance from the customers.

The Company doest not have any remaining performance obligation as contracts entered for sale of goods and sale of services are for a shorter duration.

* The Company collects the Goods and Service Tax (GST) on behalf of the Government, hence the GST is not included in Revenue from Operations.

"Note No. - 31A" - Fair Value Measurements

i) Financial Instruments measured at Fair Value through Other Comprehensive Income

The Company neither holds any quoted equity shares nor holds quoted or unquoted debentures or bonds, which are being measured at Fair Value through Other Comprehensive Income (FVTOCI), so the reporting under the "Ind AS -109, Fair Value" is not applicable to the Company for all the reporting periods presented in the Ind AS financial statements.

ii) Financial Instruments measured at Fair Value through Profit or Loss

The Company neither holds any unquoted equity shares (other than investments in associates, which are being measured at amortized costs) nor holds foreign currency forward exchange contracts nor holds quoted or unquoted mutual funds, which are being measured at Fair Value through Profit and Loss (FVTPL), so the reporting under the "Ind AS - 109, Fair Value" is not applicable to the Company for all the reporting periods presented in the Ind AS financial statements.

The Company has not any financial liabilities, which are being measured at Fair Value through Profit or Loss (FVTPL), so the reporting under the "Ind AS -109, Fair Value" is not applicable to the Company in respect of all the reporting periods presented in Ind AS financial statements.

iii) Financial Instruments measured at Amortized Costs

The carrying amount of financial assets and financial liabilities measured at amortized cost in the presented financial statements are a reasonable approximation of the fair value since the Company does not anticipate that the carrying amounts would be significantly different from the value that would eventually be received or settled.

"Note No. - 31B" - Financial Risk Management - Objectives and Policies

The Company''s financial liabilities mainly comprise the loans and borrowings in domestic currency, retention money related to capital expenditures, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s business operations and to provide guarantees to support its operations. The Company''s principal financial assets mainly comprise of security deposits, cash and cash equivalents, other balances with banks, trade and other misc. receivabj^tfefederive

;n\

directly from its business operations. ^

The Company is exposed to the Market Risk, Credit Risk and Liquidity Risk from its financial instruments. The Board of Directors ("the Board") oversees the management of these financial risks. The risk management policy of the Company formulated by the Company''s management and approved by the Board of Directors, which states the Company''s approached to address uncertainties in its endeavor to achieve its stated and implicit objectives. It prescribes the roles and responsibilities and the Company''s managements, the structure for managing the risk and the framework for risk management. The framework seeks to identify, assess and mitigate the financial risk in order to minimize the potential adverse effect on the Company''s financial performance. The Board has taken necessary actions to mitigate the risks identified on the basis of information and situation presents.

The following disclosures summarize the Company''s exposure to the financial risks and the information regarding use of derivatives employed to manage the exposures to such risks. Quantitative sensitivity analysis has been provided to reflect the impact of reasonably possible changes in market rate on financial results, cash flows and financial positions of the Company.

1) Market Risk

Market Risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because of changes in market prices. Market risk comprises three types of Risk: "Interest rate risk, Currency risk and Other price risk". Financial instruments affected by the market risk includes loans and borrowings in domestic currency, retention money related to capital expenditures, trade and other payables and trade receivables.

a) Interest Rate Risk

Interest rate risk is the risk that fair value or future cash outflows of a financial instrument will fluctuate because of changes in market interest rates. An upward movement in the interest rate would adversely affect the borrowing costs of the Company. The Company is exposed to long-term and short-term borrowings. The Company manages interest rate risk by monitoring its mix of fixed and floating rate instruments and taking actions as necessary to maintain an appropriate balances. The Company has not used any interest rate derivatives.

Fui eign lui i ency i iak is llie i iak llidl Llic fail vdlui Of futUI''4 cash outflows of (in exposure will fluctuate due to changes in foreign exchange rates. The Company operates globally, and the portion of the business is transacted in several currencies and consequently the Company is exposed to foreign exchange risk through its sales in overseas and purchases from overseas suppliers in various foreign currency. The foreign currency exchange rate exposure is partly balance by purchasing of the goods in the respective currencies.

The above table represents the total exposure of the Company towards its foreign exchange denominated monetary items. The Company has no hedged its foreign currency exposure during the reporting period and previous reporting period. The details of unhedged exposures are given as part of "Note No. 45B".

The Company is mainly exposed to changes in USD ($). The below table demonstrate the sensitivity to a 5% increase or decrease in USD ($) against INR, considering with all other variable constants. The sensitivity analysis is prepared on the net unhedged exposure of the Company at the reporting date and previous reporting period. 5% represents management''s assessment of reasonably change in foreign exchange rate.

Other price risk is the risk that the fair value of a financial instruments will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments in quoted equity instruments and bonds. The Company is exposed to price risk arising mainly from investments in quoted equity instruments recognized at FVTOCI, if any. As at March 31, 2023, the carrying value of such equity instruments recognized at amounis FVTuCI amounts to T NIL (Marcli 31, 2022 ^ NIL).

2) Credit Risk

Credit risk refers to the risk that the counterparty will default on its contractual obligations resulting in financial losses to the Company. Credit risk arises primarily from financial assets such as trade receivables, cash and cash equivalents, other balances with banks and other financial assets.

The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit rating. The Company''s exposure and credit ratings of its counterparties are continuously monitored and the aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognized financial institutions with high credit rating assigned by the international credit rating agencies.

The average credit period on sale of products is less than 60 to 90 days. Credit Risk arising from trade receivable is managed in accordance with the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on detailed study of credit worthiness and accordingly individual credit limits are defined / modified. The concentration on credit risk is limited due to the fact that the customer base is large. There is no customer representing more than 5% of total balance of trade receivables. For trade receivables, as a practical expedient, the Company computes credit loss allowance based on provision matrix. The provision matrix is prepared on historically observed default rate over the expected life of trade receivable and is adjusted for forward-looking estimate. The provision matrix at the end of reporting period as follows:

3) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated with financial instruments that are settled by delivering cash or another financial assets. Liquidity risk may result from an inability to sell a financial assets quickly at close to its fair value.

The Company has an established liquidity risk management framework for managing its short-term, medium-term and long-term funding and liquidity management requirements. The Company''s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. The Company manages the liquidity risk by maintaining adequate funds in the cash and cash equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there is sufficient cash to meet all its normal operating commitment in a timely and cost-effective manner.

The Company believes that its liquidity positions {As at March 31, 2023 ^ 36.42 Lakhs (Prev Year ? 61.76 Lakhs)}, anticipated future internally generated funds from operations, and its fully available revolving undrawn credit facilities will enable it to meet its future known obligations in the ordinary course of business. However, if liquidity needs were to arise, the Company believes it has excess to financing arrangements, value of unencumbered assets, which should unable it to meet its ongoing capital, and other liquidity requirements.

The liquidity position of the Company mentioned above, included;

i) Cash and Cash Equivalents as disclosed in the Cash Flow Statements

ii) Current / Non-current term deposits as disclosed in the financial assets The Company''s liquidity position monitored by the management, includes;

i) Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met;

ii) Maintaining rolling forecast of the Company''s liquidity position on the basis of expected cash flows;

iii) Maintaining diversified credit lines.

The table below analysis financial liabilities of the Company into the relevant maturity grouping based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows:

"Notes - 31C" - Capital Management

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles;

a) Maintain the financial strength to ensure the good ratings domestically and investment grade ratings internationally.

b) Ensure financial flexibility and diversify source of financing and thei^jqaturities to minimize liquidity risk while meeting investment requirements.

// xcJSx

c) Ensure sufficient liquidity is available (either through cash and cash equivalents, investments or committed credit facilities) to meet the need of business.

d) Minimize the finance costs while taking into considerations current and future industry, market and economic risks and conditions.

e) Safeguard its ability to continue as going as a going concern.

f) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance Sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environment, financial market conditions and interest rates environment.

The Board of Directors of the Company has primary responsibilities to maintain a strong capital base and reduce the cost of capital through prudent management of deployed fund and leveraging in domestic and international financial market so as to maintain investors, creditors and market confidence and to sustain future development of the business.

For the purpose of the Company''s Capital Management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company, when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholders value.

As at March 31, 2023, the Company has only one class of equity shares. Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividend or reinvestment into business based on its long-term financial plans.

The Company has complied with the covenants as per the terms and conditions of the major borrowing facilities throughout the reporting period and prey^®fff^f©ftprting period.

Defined Contribution Plans Provident Fund

The Provident Tund assets and liabilities aro managed by the Company in linn with thp Fmployees'' Provident Fund and Miscellaneous Provision Act, 1952.

I

The plan guarantees minimum interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with interest accumulated thereon are payable to the employees at the time of separation from the Company or their retirements, whichever is earlier. The benefits ^on the

redering of the service by the employee. In term of Guidance Note isused by the Institut^/^^Actuarie^^findia for measurement of provident fund liabilities, the Actuary has provided a valuation of Pand based on assumptions provided. There is no Shortfall in the contribution as at March 31,

The Board of Director of the Company has not declared any interim dividend during the current reporting period and previous reporting period.

Proposed Dividend

The Board of Director''s at their meeting held on May 10, 2023 have recommended a payment of final dividend of ? 00.15 (Fifteen Paisa Only) per equity shares of the face value of ? 10.00 per equity share of the face value

of equity shares for the financial period ended at March 31, 2023. The Company has Proposed? 16.70Lakh as final dividend subject to the apporval of the shareholders at their ensuing Annual General Meetmg^AGM) Company, hence it is not recognized as the "Liabilities" in the Ind AS financial statements of

1 Consolidated Financial Statements

During the reporting period and previous reporting period presented under the Ind AS finabci^st^ents the Company has neither Subsidiary nor Associate and Joint Ventures. Hence, the disclosure under Ind AS - 1 ,

"Consolidated Financial Statements" is not applicable to the Company.

Note No. 39: Information on Related Party Transaction as required by Indian Accounting Standards - 24 - "RELATED PARTY DISCLOSURE" for the year ended March 31, 2023.

Terms and Conditions with the transactions with Related Parties as under:

a) The Company has been entering into transactions with related parties for its business purpose. The process followed for entering into transactions with these related parties are same as followed for unrelated parties. Vendor''s are selected competitively having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantage in terms of:

i) Supplying products primarily to the Company

ii) Advanced and innovative technology

iii) Customization of products to suit the Company''s specific performance;

iv) Enhancement of the Company''s purchase cycle and assurance of just in time supply with resultant benefits - notably on working capital.

b) The sales to and purchases from the related parties are made on the terms equivalents to and those applicable to all unrelated parties on the arm''s length transactions.

c) Outstanding balances of the related parties at the end of the reporting period are unsecured, interest free and will be settled in the cash on demand basis.

"Note No. 40 - Additional Regulatory Information as required by the Schedule - Ill of the Companies Act, 2013"

i) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken as at the balance sheet date. The Company has not defaulted in the repayment of principal and interest thereon on all the loans obtained from banks and financial institutions, during the reporting period and previous reporting period.

ii) The title deed in respect of self-constructed building and title deeds of all other immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in the favor of the Company), disclosed ijjjs^fey^f i n a n c i a I

statements and included under the head of property, plants and equipments are held in the name of the Company as at the Balance Sheet date. In respect of the immovable properties taken on lease by the Company, the lease agreements are in the name of the Company as at

the Balance Sheet date.

iii) There are no loans and advances in the nature of loans are granted to promoters, directors, key managerial parties and the other related parties including the subsidiaries, associates and joint ventures (as defined under the Companies Act, 2013), either severally

and Jnlnlly with any uLlitii ptMiun that aie,

a) repayable on demand or;

b) without specifying any terms or period of repayments.

iv) The Company does not have benami property held in its name. No proceeding have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the relevant Rules made

thereunder.

v) The Company has been sanctioned working capital limit from bank and financial institutions on the basis of security of current assets. The quarterly returns and the statements filed by the Company with such banks and financial institutions are in agreements with the books of accounts of the Company.

vi) The Company has not been declared as willful defaulter by the banks and the financial institutions or other lender or government or any government authorities.

V

vii) The Company has not been entered any transactions with the companies struck off as per section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 2013,

hence the details related to the same has not been furnished.

%

viii) The Company does not have any charges or satisfaction of charges, which is yet to be registered with the Registrar of Company beyond the statutory period.

ix) The Company neither subsidiaries nor associates and nor joint ventures, hence the requirements with respect to the number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017

is not applicable.

x) Utilization of borrowed funds and share premium;

1) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (intermediaries) with the understanding that the

intermediaries shall:

a) 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;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

2) The Company has not received any funds from persons or entities, including foreign entities (Funding Parties) with the understanding (whether recorded in writing or otherwise) that the Company shall:

a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or;

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

xi) There has been no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the reporting period and previous reporting period in the tax assessments under the Income Tax Act, 1961.

xii) The Company has neither traded nor invested nor advanced in Crypto or Virtual Currency during the reporting period and previous reporting period.

"Note No. 41 - Corporate Social Responsibility

As per the Section 135 of the Companies Act, 2013, A Company, which meeting its applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial year on Corporate Social Responsibility (CSR) Activities. The area of CSR Activity are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A Corporate Social Responsibility (CSR) Committee has been formed as per the requirement of the Companies Act, 2013. The fund has been administrated by the committee, once it is allocated to the Corpus for the purpose of CSR Activities prescribed under Schedule - VII of the Companies Act, 2013. The Company does not meet the eligibility criteria as specified under section 135 of the Companies Act, 2013, hence the reporting under these clause is not applicable to the Company for all the reporting period presented in the financial statements.

"Note No. 42 - Segment Reporting

During the reporting period and the previous reporting period presented under the financial statements, the Company has been operates under only one segments i.e. manufacturing and trading of Tutty Fruity, Cotton Bales and other agriculture commodities. Hence, the disclosure under Ind AS - 108, "Operating Segments" is not applicable in the case of the Company for all the reporting period presented in the financial statements.

a) Estimated amount of contracts remaining to be executed on capital account, net of advances given and not provided for as at March 31, 2023 is ? NIL (Prev Year ^ NIL).

b) Estimated amount of Commitments as at March 31, 2023 is ? NIL (Prev Year ^ NIL).

Details of Hedged and Unhedged Exposures in Foreign Currency Denominated Monetary Items

A) Exposure in Foreign Currency - Hedged

The Company does not enters into forward exchange contracts to hedge its foreign currency exposures relating to the underlying transactions and the firm commitments. The Company also d^s-mt:e.nter into any derivative instruments for trading and speculation purposes during the reportin^^rod*<|pd previous

reporting period presented in the financial statements.

B) Exposure in Foreign Currency - Unhedged

The details of the foreign currency exposures not hedged as at the reporting period are as under: i) Payable during the Reporting Period

The Company does not have any unhedged foreign currency exposures payable on the reporting period and previous reporting period as specified under the financial statements.