Shukra Pharmaceuticals Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

q) Provisions, contingent liabilities and contingent assets
General

Provisions are recognised when the Company hasa present obligation (legal or constructive) as a result ofa past event,
it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the
statement of profit and loss.

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

Contingent liabilities and contingent assets
Contingent liabilities is disclosed in the case of :

- present obligation arising from past events, when it is not probable that an outflow of resources embodying economic
benefits will be required to settle the obligation.

- present obligation arising from past events, when no reliable estimate can be made.

- possible obligation arising from past events, unless the probability of outflow of resources is remote.

Commitments includes the amount of purchase order (net of advances) issued to parties for completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

Expenditure

Expenditures are accounted net of taxes recoverable, wherever applicable.

r) Fair value measurement

The Company measures financial instruments, such as, derivatives at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderlytransaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the
asset or transfer the liability takes place either:

> In the principal market forthe asset or liability, or Inthe absence of a principal market, in the most advantageous market forthe
asset or liability.

>

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are
available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within
the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:

> Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities .

> Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable.

> Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

The Company''s management determines the policies and procedures for both recurring fair value measurement, such
as derivative instruments and unquoted financial assets measured at fair value.

External valuer are involved for valuation of unquoted financial assets and financial liabilities, such as contingent
consideration. Involvement of external valuer is decided upon annually by the management. Selection criteria includes
market knowledge, reputation, independence and whether professional standards are maintained. The management
decides, after discussions with the Company''s external valuer, which valuation techniques and inputs to use for each
case.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required
to be remeasured or re-assessed as per the Company''s accounting policies. For this analysis, the Company verifies the
major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and
other relevant documents.

The Company , in conjunction with the Company''s external valuers, also compares the change in the fair value of each
asset and liability with relevant external sources to determine whether the change is reasonable on a yearly basis.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of
the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

This note summarises accounting policy for fair value. Other fair value related disclosures are given in the relevant
notes.

s) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. The Company recognizes financial assets and financial liabilities when it becomes a party
to the contractual provisions of the instrument. It is broadly classified in financial assets, financial liabilities, derivatives
& equity.

(A) Financial assets

Initial recognition and measurement

All financial assets, except investment in subsidiaries, associates and joint ventures are recognised initially at fair value.
Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

> Debt instruments at amortised cost.

> Debt instruments at fair value through other comprehensive income (FVTOCI).

> Debt instruments, derivatives and equity instruments at fair value through profit or loss (FVTPL).

> Equity instruments measured at fair value through other comprehensive income (FVTOCI).

i) Debt instruments at amortised cost

A ''debt instrument'' is measured at the amortised cost if both the following conditions are met:

(a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

(b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and
interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company. After initial measurement, such financial assets are subsequently
measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into
account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortisation is included in finance income in the profit or loss. The losses arising from impairment are recognised in
the profit or loss. This category generally applies to trade and other receivables.

ii) Debt instrument at FVTOCI

A debt instrument is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and
the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding. The Company has not classified any financial asset into this
category.

iii) Debt instrument at FVTPL

FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for
categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI
criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or
recognition inconsistency (referred to as ''accounting mismatch''). The Company has not designated any debt
instrument as at FVTPL.

Debt instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.
(B) Equity instruments

All equity instruments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading
and contingent consideration recognised by an acquirer in a business combination are classified as at FVTPL. For all
other equity instruments, the Company may make an irrevocable election to present in other comprehensive income
subsequent changes in the fair value. The Company makes such election on an instrument-by-instrument basis. The
classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument,
excluding dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of
investment. However, The Company may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognized in the
P&L.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised (i.e. removed from the Company''s balance sheet) when:

> The rights to receive cash flows from the asset have expired, or

> The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a ''pass-through'' arrangement; and either (a)
the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither
transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither
transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognise the transferred asset to the extent of the Company''s continuing involvement. In that
case, the Company also recognises an associated liability. The transferred asset and the associated liability are
measured on a basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum amount of consideration that the Company could be required
to repay.

Impairment of financial assets

The Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the
following financial assets and credit risk exposure ;

a) Financial assets that are debt instruments, and are measured at amortised cost e.g. loans, debt securities, deposits,
trade receivables and bank balances.

b) Financial assets that are debt instruments and are measured as at other comprehensive income (FVTOCI).

c) Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that
are within the scope of Ind AS 11 and Ind AS 18.

The Company follows ''simplified approach'' for recognition of impairment loss allowance on:

> Trade receivables or contract revenue receivables; and

> All lease receivables resulting from transactions within the scope of Ind AS 17.

Under the simplified approach the Company does not track changes in credit risk. Rather, it recognises impairment loss
allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether
there has been a significant increase in the credit risk said initial recognition. If credit risk has not increased
significantly, 12 month ECL is used to provide for impairment loss. However, if credit risk has increased significantly,
lifetime ECL is used.

ECL is the difference between all contracted cash flows that are due to the Company in accordance with the contract
and all the cash flows that the Company expects to receive, discounted at the original EIR. ECL impairment loss
allowance ( or reversal) recognised during the period is recognised as (expense) / income in the statement of profit and
loss (P&L). This amount is reflected under the head " Other Expense" in the P&L.

Financial liabilities

Initial recognition and measurement

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of
directly attributable transaction costs.

The Company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.
Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for
trading if they are incurred for the purpose of repurchasing in the near term.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the
initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair
value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not
subsequently transferred to P&L. However, The Company may transfer the cumulative gain or loss within equity. All
other changes in fair value of such liability are recognised in the statement of profit or loss. The Company has not
designated any financial liability as at FVTPL.

Loans and borrowings

This is the category most relevant to the Company. After initial recognition, interest-bearing loans and borrowings are
subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when
the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are
an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When
an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms
of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of
the original liability and the recognition of a new liability. The difference in the respective carrying amounts is
recognised in the statement of profit or loss.

Reclassification of financial instruments

After initial recognition, no reclassification is made for financial assets which are equity instruments. For financial
assets, which are debt instruments, a reclassification is made only if there is a change in the business model for
managing those assets. Changes to the business model are expected to be infrequent. If the Company reclassifies the
financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the
immediately next reporting period following the change in the business model.

Offsetting financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realise the
assets and settle the liabilities simultaneously.

Recent accounting pronouncements

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On 12 August 2024, MCA amended the
Companies (Indian Accounting Standards) Amendment Rules, as below.

Amendments to Ind AS 117

MCA notified Ind AS 117 a comprehensive standard that prescribe, recognition,measurement and disclosure
requirements, to avoid diversities In practice for accounting Insurance contracts and It applies to all companies i.e.. to
all insurance contracts regardless of the issuer. However Ind AS 117 is not applicable to the entities whose are
insurance companies registered with IRDAI.

Additionally,amendments have been made to Ind AS 101 First time Adoption of Indian Accounting Standards Ind AS 103
Business Combinations.

AS 105 Non-current Assets Held for Sale and Discontinued Operations, Ind AS 107 Financial Instruments: Disclosures
,Ind AS 109 Financial Instruments and Ind AS 115 Revenue from Contracts with Customers to align them with Ind AS
117 The amendments also Introduce enhanced disclosure requirements,particularly In Ind AS 107, to provide clarity
regarding financial Instruments associated with Insurance contracts.

Amendments to Ind AS 116

The amendments require an entity to recognise lease liability including variable lease payments which are not linked to
index or a rate In a way It does not result Into gain on Right or use asset It retains.

The Company has reviewed the new pronouncements and based on its evaluation has determined that these
amendments do not have a significant impact on the Company''s Financial Statements.

The accompanying notes form an integral part of financials statements For and on behalf of Board of Directors of,

As per our report of even date SHUKRA PHARMACEUTICALS LIMITED

FOR, MAAK and Associates Sd/- Sd/-

Chartered Accountants Dakshesh Shah Payal Mehta

Firm Registration No.: 135024W Director Director

DIN:00561666 DIN: 02145421

Sd/- Sd/- Sd/-

Marmik Shah Anar patel Arpita Kabra

Partner Chief Finance Officer Compliance Officer

Membership No. 133926 AHYPP8690E DQRPK6544M

Place: Ahmedabad

Date: 29/05/2025 Place: Ahmedabad Place: Ahmedabad

UDIN: 25133926BMJGYP8497 Date: 29/05/2025 Date: 29/05/2025

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Mar 31, 2024

(b) Terms/rights attached to equity shares:

The Company has only one class of equity shares having par value of '' 10 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Carrying amounts of cash and cash equivalents, trade receivables, investments, unbilled revenues, loans, trade payables and other payables as at March 31,2024 and March 31,2023 approximate the fair value because of their short-term nature. Difference between carrying amounts and fair values of bank deposits, other financial assets, other financial liabilities and borrowings subsequently measured at amortised cost is not significant in each of the years presented.

The table has been drawn up based on the undiscounted contractual maturities of the financial liabilities including interest that will be paid on those liabilities upto the maturity of the instruments.

17 Capital management

For the purposes of the company''s capital management, capital includes issued capital and all other equity reserves. The primary objective of the company''s capital management is to maximize shareholder value. The company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

18 Event occurred after the Balance Sheet Date

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approval of financial statements to determi ne the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. As of May 29, 2024, there were no subsequent events to be recognised or reported that are not already disclosed.

During the year, advances given to supplier is more than previous year which lead to increase in current asset and trade payables are being paid during the year which

¹ impacted current liability of the company.

² debt is repaid by the company and net profit for the current year has been increased which resulted into increase in shareholder''s fund.

Throughout the year, the company has generated revenue under consideration, which has led to an increase in net profit for the current financial year. This, in turn, has

³ resulted in higher earnings, enhancing the company''s ability to cover its debt service obligations.

Company is in the good position after earing the revenue under consideration during the year. However expense are no more effected even though sales is increased

⁴ which gives the huge profit for the entity.

As the turnover of the entity has been increased the company is having the least of the closing stock which effected the inventory turnover ratio for the current year.

5

6 To earn the revenue the company is in excess credit purchase of the goods which lead to increase in both purchase and payables.

Entity has waived most off its debt during the year due to that liquidity for the year is effected but on the other hand turnover of the entity is increased which balanced

7 the capital required for the year.

Enity captured the good market position to enhance its turnover which gives the good return in form of net profit. Though turnover is increased expenses are

8 minimaliste towards increase which shows the good efficiency and capability of the entity.

During the year company has given the advances to its suppliers which enhanced the assets of the company and at the same time debts and payables are being paid

9 which leads to decrease in liability of the company and ultimetly this whole impact has effected the earning and capital.

21 Contingent Liabilities

Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability.

Particulars	As at 31st March 2024	As at 31st March 2023
Contingent liabilities:	139.91	139.91

1. The above matters are pending before various Income Tax Authorities. Company has not filed Appeal to the Commissioner of Income-tax (Appeals) and not file the response to disagree with demand(Either in Full or Part).

2. The Company has reviewed all its pending litigations and proceedings and has not provided as Contingent liabilities in its financial statements.

3. The Company does not expect the outcome of these proceedings to have a material adverse effect on its financial statements.

4. The Company has not given any Bank Guarantees in respect of Contingent liabilities.

5. Assessment proceedings under GST Act is under process for which management is of the opinion that there is no requirement to identify or make provision of any future liability if ascertained.

22 Other statutory informations

I. The Company do not have any Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property.

ii. The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

iii. The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

iv. The Company has not advanced or loaned or invested funds to any person or any entity, including foreign entities (Intermediaries) with the understanding that the intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever on behalf of the Company (Ultimate Beneficiaries); or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

v. The Company has not received any fund from any person or any entity, including foreign entities (Funding Party) 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 a or on behalf of the Funding Party (Ultimate Beneficiaries); or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

vi. The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961

vii. Relationship with struck off companies - Basis the management''s assessment, it has been concluded that the Company has made no transactions with struck-ofi companies under Section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956. Further, there are no outstanding balances as at balance sheet date with struck-off companies.

23 The Balances of Debtors, Creditors and Loans & Advances are subject to Confirmation and Reconciliation.

24 Previous year figures are regrouped wherever necessary.

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Mar 31, 2023

q) Provisions, contingent liabilities and contingent assets General

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of profit and loss.

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

Contingent liabilities and contingent assets Contingent liabilities is disclosed in the case of :

a present obligation arising from past events, when it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation. a present obligation arising from past events, when no reliable estimate can be made. a possible obligation arising from past events, unless the probability of outflow of resources is remote. Commitments includes the amount of purchase order (net of advances) issued to parties for completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

Expenditure

Expenditures are accounted net of taxes recoverable, wherever applicable.

r) Fair value measurement

The Company measures financial instruments, such as, derivatives at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

- In the principal market for the asset or liability, or

- In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

- Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

- Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

- Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

The Company''s management determines the policies and procedures for both recurring fair value measurement, such as derivative instruments and unquoted financial assets measured at fair value. External valuer are involved for valuation of unquoted financial assets and financial liabilities, such as contingent consideration. Involvement of external valuer is decided upon annually by the management. Selection criteria includes market knowledge, reputation, independence and whether professional standards are maintained. The management decides, after discussions with the Company’s external valuer, which valuation techniques and inputs to use for each case.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be remeasured or re-assessed as per the Company’s accounting policies. For this analysis, the Company verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents.

The Company , in conjunction with the Company’s external valuers, also compares the change in the fair value of each asset and liability with relevant external sources to determine whether the change is reasonable on a yearly basis. For the purpose of fair value disclosures, the Company has determined

classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

This note summarises accounting policy for fair value. Other fair value related disclosures are given in the relevant notes.

s) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. The Company recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. It is broadly classified in financial assets, financial liabilities, derivatives & equity.

(A) Financial assets

Initial recognition and measurement

All financial assets, except investment in subsidiaries, associates and joint ventures are recognised initially at fair value.

Subsequent measurement

- For purposes of subsequent measurement, financial assets are classified in four categories:

- Debt instruments at amortised cost.

- Debt instruments at fair value through other comprehensive income (FVTOCI).

- Debt instruments, derivatives and equity instruments at fair value through profit or loss (FVTPL).

- Equity instruments measured at fair value through other comprehensive income (FVTOCI).

i) Debt instruments at amortised cost

A ‘debt instrument’ is measured at the amortised cost if both the following conditions are met:

(a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

(b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company. After initial measurement, such financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance income in the profit or loss. The losses arising from impairment are recognised in the profit or loss. This category generally applies to trade and other receivables.

ii) Debt instrument at FVTOCI

A debt instrument is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company has not classified any financial asset into this category.

iii) Debt instrument at FVTPL

FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ‘accounting mismatch’). The Company has not designated any debt instrument as at FVTPL.

Debt instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.

(B) Equity instruments

All equity instruments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading and contingent consideration recognised by an acquirer in a business combination are classified as at FVTPL. For all other equity instruments, the Company may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value. The Company makes such election on an instrument-by-instrument basis. The classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, The Company may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e. removed from the Company’s balance sheet) when:

- The rights to receive cash flows from the asset have expired, or

- The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to the extent of the Company’s continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay.

Impairment of financial assets

The Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk exposure ;

a) Financial assets that are debt instruments, and are measured at amortised cost e.g. loans, debt securities, deposits, trade receivables and bank balances.

b) Financial assets that are debt instruments and are measured as at other comprehensive income (FVTOCI).

c) Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 11 and Ind AS 18.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on:

> Trade receivables or contract revenue receivables; and

> All lease receivables resulting from transactions within the scope of Ind AS 17.

Under the simplified approach the Company does not track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk said initial recognition. If credit risk has not increased significantly, 12 month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used.

ECL is the difference between all contracted cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive, discounted at the original EIR. ECL impairment loss allowance ( or reversal) recognised during the period is recognised as (expense) / income in the statement of profit and loss (P&L). This amount is reflected under the head " Other Expense" in the P&L.

Financial liabilities

Initial recognition and measurement

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.

Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to P&L. However, The Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the statement of profit or loss. The Company has not designated any financial liability as at FVTPL.

Loans and borrowings

This is the category most relevant to the Company. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Reclassification of financial instruments

After initial recognition, no reclassification is made for financial assets which are equity instruments. For financial assets, which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. If the Company reclassifies the financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in the business model.

Offsetting financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

Recent accounting pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in the standalone financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of ‘accounting estimates’ and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its standalone financial statements.

Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its standalone financial statement

The above matters are pending before various Income Tax Authorities. Company has not filed Appeal to the Commissioner of Income-tax (Appeals) and not file the response to disagree with demand (Either in Full or

Part)._

The Company has reviewed all its pending litigations and proceedings and has not provided as Contingent liabilities in its financial statements.

The Company does not expect the outcome of these proceedings to have a material adverse effect on its financial statements.

The Company has not given any Bank Guarantees in respect of Contingent liabilities.

Assessment proceedings under GST Act is under process for which management is of the opinion that there is no requirement to identify or make provision of any future liability if ascertained.

Note No. 28

The Balances of Debtors, Creditors and Loans & Advances are subject to Confirmation and Reconciliation.

Note No. 29

The Balances of GST Input Ledgers as per Books are subject to reconciliation with Balances as per GST Returns and consequential adjustments thereof.

Note No. 30

Previous year figures are regrouped wherever necessary.

The accompanying notes form an integral part of financials statements

For, MAAK and Associates For and on behalf of Board of Directors of

Chartered Accountants Shukra Pharmaceuticals Limited

Firm Registration No.: 135024W

Sd/- Sd/- Sd/-

Marmik Shah Dakshesh Shah Payal Mehta

Partner Director Director

Membership No. 133926 DIN:00561666 DIN: 02145421

Place: Ahmedabad Sd/- Sd/-

Date: 29/05/2023 Mehul patel Arpita Kabra

UDIN: 23133926BGWEUI1892 Chief Finance Officer Compliance Officer

DAGPP3758H DQRPK6544M

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Mar 31, 2015

1. As the company does not have details of registration status of their suppliers / creditors in reference to Micro, Small and Medium Enterprise Development Act, 2006, so no details have been provided under clause 22 of said act and accordingly no provision has been made for the same.

2. Excise duty on sales has been reducted from revenue from operations in profit and loss and excise duty on increase / decrease in stock amount has been grossed up in the value of finished goods in note no 16c of the financial statements.

3. Other income includes profit on sale of fixed assets of the company and also liabilities which are now no more payable as per the best assumption and decision of the management of the company.

4. The company reports basic earnings per share in accordance with Accounting Standard (AS) 20 on 'Earnings Per Share'. Basic EPS is computed by dividing the net profit after tax for the year by the weighted average number of equity shares outstanding during the year.

5. Related Party Disclosures

As per Accounting Standard (AS) 18 on 'Related Party Disclosures', related parties and transactions with related parties information has been provided separately as an attechment to notes to account.

6. Segment Reporting Business Segments

The primary reporting of the Company has been performed on the basis of business segment. The company operates in a single business segment of Pharmaceuticals. Accordingly no additional disclosures are required as per Accoutning Standard 17 on Segment Reporting.

7. Geographical Segments

Secondary segmental reporting is performed on the basis of the geographical location of customers. The management views the Indian market and export market as distinct geographical segments. Further the company has whole business in Indian market only. Accordingly no additional disclosures are required as per Accounting Standard 17 on Segment Reporting.

8. Contingent Liabilities and Commitments

a. As per the information available with the management and based on that with the best judgement by the management, there is no such contingent liabilities including appeal filed by income tax department for which provision is required.

b. Assessment proceedings under VAT Act is under process for which management is of the openion that there is no requirement to identify or make provision of any future liability if ascertained.

9. Other notes

a) Number of employees who were employed throughout the year and were in receipt of remuneration of Rs 60,00,000/- per annum or more are nil during the current year as well as in previous year.

b) Number of employees who were employed for the year and were in receipt of remuneration of Rs 5,00,000/- per month or more are nil during the current year as well as in previous year.

c) Balances shown under the head of "Secured loans", "Unseucred Loans", "Sundry Debtors", "Sundry Creditors" are subject to confirmation of parties concerned.

d) In the openion of the directors of the company, the value of current assets shown in the Balance sheet are approximately of the value stated, if realised in the ordinary course of business.

e) Figures have been rounded off to the nearest rupee.

10. Prior years' comparatives

a) The previous years' figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amount and other disclosure for the preceding year are included as an integral part of the current year financial statement and are to be read in relation to amount and other disclosures relating to the current year.

11. Related Party Disclosures

As per As 18, the disclosures of transactions with the related parties are given below:

A. (I) Key Management Personnel:

Sr. No. Name of Person (FY 2014-15) Name of Person (FY 2013-14)

1 Dakshesh Rameshchandra Shah Dakshesh Rameshchandra Shah

2 Harsh Jitendrakumar Shah Harsh Jitendrakumar Shah

3 Payalben Sujay Mehta Payalben Sujay Mehta

4 Sujay Jyotindra Mehta Sujay Jyotindra Mehta

5 Anar Jayesh Patel Anar Jayesh Patel

6 Mihirbhai Patel

7 Riddhiben Patel

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Mar 31, 2014

1. EARNINGS PER SHARE:

The Company reports Basic Earnings Per Share in accordance with Accounting Standard - 20; "Earnings Per Share" issued by The Institute of Chartered Accountants of India. Basic EPS is computed by dividing the Net Profit after Tax for the year by the weighted average number of Equity Shares outstanding during the year.

2. RELATED PARTY DISCLOSURES:

A. (I) Key Management Personnel:

* Dakshesh Rameshcandra Shah.

* Harsh Jitendrakumar Shah.

* Payalben Sujay Mehta.

* Sujay Jyotindra Mehta.

* Anar Jayesh Patel.

* Mihirbhai Patel

* Riddhiben Patel

(II) Associates Concerns & Relatives of Key Management Personnel:

* Innovative Infraplus India Ltd.

* Proper Delcom Pvt Ltd

* Navkar Surgical Ltd

* Jignaben M Patel

* Mahendrabhai M Patel

* Manibhai Motibhai Patel

* Mitaben Mahendrabhai Patel

* M M Patel & Jont

* Naim Mihir Patel

* Pravinkumar Motibhai Patel

* R K Patel

* Tapan Patel

3. As per information available with us, the Company has filed a Composite Scheme of Arrangement under provisions of sections 391 to 394 of the Companies Act, 1956, for revival of Relish Pharmaceuticals Limited and amalgamation of Proper Dealcomm Private Limited with Relish Pharmaceuticals Limited and reorganisation of share capital of Relish Pharmaceuticals Limited vide Company petition no. 9/2013 and 10/2013 with the Hon''able High Court of Gujarat which has been put up for final hearing.

4. (i) Value of Import on CIF Basis:

CIF value of Imports during the year are ''NIL ( Previous year'' Nil)

(ii) Earnings in Foreign Currency :

Company''s foreign exchange earnings (FOB Value) are''NIL

(Previous year'' Nil)

(iii) Expenditure in foreign currency :

Company''s foreign exchange Expenditure are'' Nil (Previous year Nil)

(1) Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/-per month or more are nil. (Previous Year Nil)

5. Balances shown under the head of " Secured Loans ", " Unsecured Loans ", " Sundry Debtors", " Loans and Advances " and " Sundry Creditors " are subject to confirmation of parties concerned.

6. In the opinion of the Directors of the company, the value of current assets shown in the Balance Sheet are approximately of the value stated, if realised in the ordinary course of business.

7. Figures have been rounded off to the nearest rupee.

8. The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amount and other disclosure for the preceding year are included as an integral part of the current year financial statement and are to be mad in relation to amount and other disclosures relating to the current year.

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Mar 31, 2013

1. EARNINGS PER SHARE:

The Company reports Basic Earnings Per Share in accordance with Accounting Standard - 20; "Earnings Per Share" issued by The Institute of Chartered Accountants of India. Basic EPS is computed by dividing the Net Profit after Tax for the year by the weighted average number of Equity Shares outstanding during the year.

2. RELATED PARTY DISCLOSURES:

A. (I) Key Management Personnel:

Payalben Mehta

Dr. Sujay Mehta

(II) Associates Concerns & Relatives of Key Management Personnel:

Parshva Texchem (India) Pvt Ltd Navkar Surgicals Gujarat Ltd Anar Projects Ltd Jignaben Patel

Mahendrabhai Patel Manibhai Patel

Mitaben Patel

Pravinkumar Patel

R K Patel

Tapan Patel

3. As per information available with us, the Company has filed a Composite Scheme of Arrangement under provisions of sections 391 to 394 of the Companies Act, 1956, for revival of Relish Pharmaceuticals Limited and amalgamation of Proper Dealcomm Private Limited with Relish Pharmaceuticals Limited and reorganization of share capital of Relish Pharmaceuticals Limited vide Company petition no. 9/2013 and 10/2013 with the Hon''able High Court of Gujarat which has been put up for final hearing.

4. (i) Value of Import on CIF Basis :

CIF value of Imports during the year are Rs. NIL (Previous year Rs. Nil)

(ii) Earnings in Foreign Currency:

Company''s foreign exchange earnings (FOB Value) are Rs.NIL (Previous year Rs. Nil)

(iii) Expenditure in foreign currency:

Company''s foreign exchange Expenditure is Rs.Nil (Previous year Rs.Nil)

(1) Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration ofRs. 5,00,000/-per month or more are nil. (Previous Year Nil)

5. Balances shown under the head of " Secured Loans ", " Unsecured Loans ", " Sundry Debtors", " Loans and Advances " and " Sundry Creditors " are subject to confirmation of parties concerned.

6. In the opinion of the Directors of the company, the value of current assets shown in the Balance Sheet are approximately of the value stated, if realised in the ordinary course of business.

7. Figures have been rounded off to the nearest rupee.

8. The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amount and other disclosure for the preceding year are included as an integral part of the current year financial statement and are to be read in relation to amount and other disclosures relating to the current year.

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Mar 31, 2012

(i) Term loan form Union Bank of India is secured by way of first charges on New Factory Building

(ii) Term Loan from Syndicate Bank is secured by way of first charge on fixed assets located at the first floor of the f ctory, second charge on other immovable assets of the Company, Corporate Guarantee of the Director.

(iii) Term Loan from Visnagar Nagarik Sahkari Bank Ltd. have been secured against office premises at New York Tower '' , ''

1(i) Working Capital from loans from Union Bank of India has been secured by way of first charge on all fixed assets of the company except the fixed assets financed by Syndicate Bank on first floor of the factory, hypothetication of stock & book debts, Mortgage of Registered office premises of the Company, Mortgage of Residential flat of the Directors, Corporate and personal guarantees of Directors and Pledge of a portion of equity charges of the company

1. Estimated amount of contracts remaining to be executed on capital accounts is Rs. Nil (Previous year Rs. Nil). -h*"*1

2. Balances shown under the head of " Secured Loans", " Unsecured Loans", " Sundry Debtors", " Loans and Advances" and " Sundry Creditors " are subject to the confirmation by the parties concerned-

3. Retirement benefits, gratuity, le;Jre encashment, etc. has not been provided in the accounts of the company . Th a have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statement of Employers issued by the Institute Chartered Accountants of India

4. As informed by'' the management, the company has not maintained cost records under section 209(1) (d) of the companies Act, 1956 and rules made there under by the Central Government in this regard.

5. In the opinion of the Directors of the company, the value of current assets shown in the Balance sheet are approximately of the value stated, if realized in the ordinary course of business.

6. CIF value of Imports during the year

CIF value of Imports during the year are Rs.NIL.(Previous Year Rs.Nil/-) FOB Value of exports company''s foreign exchange earning (FOB Value) are Rs Nil (Previous year Rs.Nil)

7. (1) Number of employees who were:

(a) Employed through out the year and were in receipt of remuneration of Rs.2400000/- per annum nil.(previous Year Nil)

(b) employed for part of the year and were in receipt of remuneration of Rs.200000/-per month nil. (Previous Year nil)

8. Figures of the previous year have been re-grouped and re-arranged wherever necessary to make them comparable with the figures of the current year.

9. Figures have been rounded off to the nearest rupee.

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Mar 31, 2010

(1) Contingent Liabilities:

Claims against the Company not acknowledged as debts for income tax for as at 31st March, 2010

(2) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(3) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tax assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence.

(4) Due to continuing losses, the net worth of the Company has been eroded by more than fifty thereof. However, it is informed that the Company has been in dialogue with the Bankers and shall propose the restructuring of existing outstanding loans for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(5) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation. In respect of the old debtors, the Auditor has relied on the judgment of the management of the company as to the recoverability in absence of direct confirmation.

(6) The Company has Capital Work in progress for building for Rs. 4,56,710 in respect of which no provision of impairment is required to be made in the opinion of the management of the Company.

(7) As informed by the management, the Company has not maintained cost records under section 209(1 )(d) of the Companies Act, 1956 and rules made thereunder by the Central Government in this regard.

(8) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31st March, 2010 have not been given in view of information in this regard not made available to us.

(9) The names of related parties with relationship and transactions with them are disclosed as under :

(A) Relationship:

(I) Subsidiary Company :

(II) Other related Parties :

(III) Key Management Personnel :

Mr. Mihir Patel

Mrs. Riddhi Patel

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Mar 31, 2009

(1) Contingent Liabilities:

Claims against the Company not acknowledged as debts Tor income tax for as at 31st March 2009.

(2) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(3) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tajt assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence,

(4) Due to continuing losses, the net worth of the Company has been eroded bhy more than fifty percent thereof,. However, it is informed that the Company has been in dialogue with the Bankers and shalt propose the restructuring of existing outstanding loans for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(5) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation as in the case of banks most of the accounts are showing negative bank balance, in respect of the old debtors, the Auditor has relied on the judgement of the management of the company as to the recovcrability in absence of direct confirmation.

(6) The Company has Capital Work in progress for building for Rs, 4,56,710 in respect of which no provision of impairment is required to be made in the opinion of the management of the Company.

(7) As informed by the management, the Company has not maintained cost records under section 209(1 ){d) of the Companies Act, 1956 and rules made there under by the Central Government in this regard.

(8) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31Et March 2009 have not been given in view of information in this regard not made available to us.

(9) The mimes of related parties with relationship and transactiens with thorn are disclosed as under;

(A) Relationship:

(I) Subsidiary Company :

(II) Other related Parties ;

(III) Key Management Personnel :

Mr. Mihir Patel /Mr&. Riddhi Patel

Related parties relationship is as identified by the Company and relied up and accepted by the auditor. Details of transactions with related party in the ordinary course of business are as under;

Salary and perquisites to Mr.Mihir Patel Rs. 3,00,000/-

Salary and perquisites to Mrs.Riddhi Palel Rs. 1,00,000/-

Salary and perquisites to Mrs. Ramilaben Rs, 47,170/-

(10) Profit & Loss account includes Managerial remuneration :

2008-2009 20Q7-200& Salary and Perquisites 6,47,000 5,40,000

(11) In the opinion of the management of the Company, the Company has only one segment viz, pharmaceutical and drugs-, hence no separate disc loser of segment wist information has been made.