Uniroyal Marine Exports Ltd. के अकाउंट के लिये नोट

Mar 31, 2026

3.1 During the year, the Company identified certain errors in the computation of depreciation on Property, Plant and Equipment relating to earlier periods. The errors resulted in a short provision of depreciation of ?3.75 lakhs in respect of certain assets and an excess provision of depreciation of ?12.67 lakhs in respect of certain other assets. The net impact of the above errors is an excess depreciation provision of ?8.92 lakhs. Consequently, the carrying amount of Property, Plant and Equipment was understated and retained earnings were understated by ?8.92 lakhs, before considering the related tax impact. The Company has corrected the above prior period error retrospectively in accordance with Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors. Accordingly, the comparative financial information has been restated, wherever applicable.

3.2 The members in its Extra Ordinary General Meeting held on July 31, 2025 have accorded approval for the sale of 180 cents of land situated at Sy. No. 11/19 Chamancheri Vengalam, Calicut - 673 303 with building thereon in open bid with the condition that the successful bidder has to lease the said building to the company. The outcome of the transaction is known once the bid is completed and the working of the Company and continue as a going concern is based on the said bid.

3.3 Export packing credit limit of Rs. 13 Crores secured by first charge on all the goods to be exported and the whole of the company''s stock of marine products and also charge by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. Repayable on demand . The Ineterest on the facility is 9.95% on annual basis.

3.4 FDBP discounted as on 31.3.2026 amounting to Rs. 481.89/- lakhs (previous year Rs.215.11/-lakhs) - under FUDP/FDBP has been secured against document of title to goods, evidencing export against LC and also by way of hypothecation of land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. Repayable on demand .This amount has been deducted from trade receivable to arrive at the net realisable amount from trade receivables. The interest rate is 9.95% on this facility.

13.1 Terms/rights attached to Equity shares

The Company has one classe of equity shares having a par value of ? 10 per share. Each holder of equity shares is entitled to one vote per share. The dividend (if any) proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

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.

15.1 Export packing credit limit of Rs. 13 Crores secured by first charge on all the goods to be exported and the whole of the company''s stock of marine products and also charge by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. Repayable on demand . The Ineterest on the facility is 9.95% on annual basis.

15.2 FDBP discounted as on 31.3.2026 amounting to Rs. 481.89/- lakhs (previous year Rs.215.11/-lakhs) - under FUDP/FDBP has been secured against document of title to goods, evidencing export against LC and also by way of hypothecation of land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. Repayable on demand .This amount has been deducted from trade receivable to arrive at the net realisable amount from trade receivables. The interest rate is 9.95% on this facility.

15.3 Loan from/ Liability to others represent amount payable to Erstwhile Director of the company incurred at the time when he was a Director of the company. As per clause 2(1)( C ) (viii) of Companies (Acceptance of Deposits) Rules, 2014, the said amout is outside the purview of definition of "Deposits" and therefore provisions of Section 74 of Companies Act 2013 is not applicable.

Dues to Micro, Small and medium enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. Trade payables are non interest bearing and are normally settled in 30 to 60 days in the normal course . No interet has been paid or prorvided as per the terms agreed with the parties and interest if any to be provided under the MSMED act is not material.

Defined Benefit Plan -Gratuity

The Company provides for gratuity, a defined benefit gratuity plan covering eligible employees. Obligation with regard to the gratuity plan is determined by an independent actuarial valuation on the reporting date. The liability for the same is not funded against plan assets.

The following tables summarise the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the standalone balance sheet for gratuity benefit:

Other Disclosures:

Description of Asset Liability Matching (ALM) Policy:

As the plan is unfunded, an ALM policy is not applicable.

Description of funding arrangements and funding policy that affect: future contributions The plan is unfunded and the status is unlikely to change over the next fewyears.

Maturity Profile:

The weighted average duration of the obligation is 3.5 years (March 31, 2025: 3.5 years) as at the valuation date 29 Segment Reporting

The company has only one segment. The company''s opertion predominently related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per IND AS - 108, separate segment reporting is not applicable. Local turnover is not significant in total turnover.Segment has been identified in time with IND AS 108 on Segment Reporting. Operation of the company is at present only in India within a single geographical segment.

31 Fair Values

31.1 Classification of financial assets at amortised cost

The Company classifies its financial assets at amortised cost only if both of the following criteria are met:

i) the asset is held within a business model whose objective is to collect the contractual cash flows, and

ii) the contractual terms give rise to cash flows that are solely payments of principal and interest.

Financial assets classified at amortised cost comprise trade receivables, loans and security deposits

31.2 Classification of financial assets at fair value through profit or loss

The Company classifies the following financial assets at fair value through profit or loss (FVTPL):

i) debt investments (preference shares and mutual funds) that do not qualify for measurement at either amortised cost or FVOCI, and

ii) equity investments for which the entity has not elected to recognise fair value gains and losses through OCI.

31.4 The management assessed that fair value of cash and cash equivalents, trade receivables, other financial assets, trade payables and other financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments

31.5 Long-term receivables / advances given are evaluated by the Company based on parameters such as interest rates and individual creditworthiness of the customer. Based on this evaluation, allowances are taken into account for the expected credit losses of these receivables.

31.6 The fair value of loans and borrowings is estimated by discounting future cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities. The same would be sensitive to a reasonably possible change in the forecast cash flows or the discount rate. There are no unobservable inputs that impact fair value.

32 Financial risk management objectives and policies

The Company’s business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit risk, raw material procurment risk, biological risk. The Company’s senior management has the overall responsibility for establishing and governing the Company’s risk management framework. The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set and monitor appropriate risk limits and controls, periodically review the changes in market conditions and reflect the changes in the policy accordingly. The key risks and mitigating actions are also placed before the Audit Committee of the Company.

32.1 Liquidity Risk

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets & liabilities and monitoring balance sheet liquidity ratios. The Company manages liquidity risk by maintaining adequate cash & credit lines and continuously monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows. The contractual maturity is based on the earliest date on which the Company may be required to pay.

The contractual maturity analysis presented above has been prepared based on the remaining contractual maturities of financial liabilities as at the reporting date in accordance with the requirements of Ind AS 107.

As at the reporting date, the contractual cash outflows due within one year exceed the expected cash inflows from financial assets. This is primarily due to the classification of working capital borrowings, which are contractually repayable within one year. However, these borrowings represent revolving working capital facilities that have historically been renewed by the lending banks upon expiry, subject to compliance with the terms and conditions of the respective sanction arrangements.

The management expects that these facilities will continue to be available in the ordinary course of business and, accordingly, does not anticipate any material liquidity constraints in meeting its obligations as they fall due. The Company continuously monitors its liquidity position and maintains adequate banking arrangements and other financing sources to ensure the availability of sufficient funds to meet its operational and financial commitments.

32.2 Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of following: interest rate risk, foreign currency risk and commodity price risk. Financial instruments affected by market risk include loans, borrowings, trade payables and deposits.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s bank borrowing which are at floating interest rates

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is exposed to foreign currency risks arising from exposures to US Dollars denominated receivables The Company manages this foreign currency risk by using discounting under foreign currency facility sanctioned from the bank.

32.3 Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) .

Trade Receivables

Customer credit risk is managed by the Company’s established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date . The Company creates allowance based on lifetime expected credit loss based on a provision matrix after considering adjustment under credit insurance. The provision matrix takes into account historical credit loss experience and is adjusted for forward looking information. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several locations and operate in largely independent markets

32.4 Raw Material Procurment Risk

The Company procures raw materials, comprising marine products such as fish, shrimp and other seafood, from approved suppliers, fishermen, aquaculture farms, landing centres and other authorised procurement agencies based on business requirements and prevailing market conditions.

Raw materials are procured after carrying out quality inspections and acceptance procedures in accordance with the Company''s quality standards and applicable statutory and regulatory requirements prescribed by the Export Inspection Council (EIC), Marine Products Export Development Authority (MPEDA), Food Safety and Standards Authority of India (FSSAI), and the import regulations of the respective destination countries, wherever applicable.

The purchase price of raw materials is generally determined based on prevailing market prices, species, size, grade, quality, seasonal availability, and other commercial considerations. Procurement is supported by appropriate purchase documentation and authorised approvals in accordance with the Company''s internal control procedures.

Raw materials accepted on procurement are recognised as inventories at cost. Cost comprises the purchase price and other directly attributable costs incurred in bringing the inventories to the processing facility, including transportation, handling, unloading and other incidental procurement expenses, to the extent attributable. Inventory is subsequently measured in accordance with the Company''s accounting policy on inventories.

The Company maintains appropriate controls over supplier approval, quality testing, traceability, quantity verification and procurement authorisation to ensure that only acceptable raw materials are processed for export or domestic sale.

Where raw materials do not meet the prescribed quality standards or contractual specifications, such materials are rejected, returned to the supplier, or appropriately valued after considering their estimated net realisable value, in accordance with the applicable accounting framework.

The Company regularly reviews procurement prices, quality parameters and inventory realisable values considering the highly perishable nature of seafood products. Appropriate write-downs are recognised where the net realisable value of inventories is lower than their cost in accordance with Ind AS 2 Inventories

32.5 Biological Risk

The Company recognises that its operations are exposed to biological risks arising from diseases in aquaculture, marine pollution, contamination, harmful algal blooms, climate-related events, and other biological or environmental factors that may adversely affect the availability, quality, safety and marketability of raw materials.

To mitigate these risks, the Company procures raw materials only from approved suppliers, farms, landing centres and procurement agencies that comply with applicable statutory and regulatory requirements. The Company maintains a supplier approval and periodic evaluation process based on quality standards, compliance history and traceability requirements.

The Company implements appropriate quality assurance and food safety systems, including inspection, sampling and laboratory testing of raw materials and finished products, wherever applicable, to ensure compliance with the standards prescribed by the Export Inspection Council (EIC), Marine Products Export Development Authority (MPEDA), Food Safety and Standards Authority of India (FSSAI), importing country regulations, and customer specifications.

The Company maintains traceability systems to identify the origin and movement of raw materials and finished products throughout the procurement, processing and distribution chain, enabling timely corrective actions, including product withdrawal or recall where necessary.

Management continuously monitors developments relating to disease outbreaks, environmental conditions, and regulatory notifications that may affect the procurement or export of seafood products. Appropriate procurement strategies, supplier diversification and operational measures are adopted, wherever practicable, to minimise disruptions to production and fulfilment of customer commitments.

The Company periodically evaluates the recoverability and net realisable value of inventories that may be affected by biological contamination, spoilage or other biological events. Where required, inventories are written down to their net realisable value and appropriate provisions are recognised in accordance with the applicable financial reporting framework.

The effectiveness of the Company''s biological risk management framework is reviewed periodically by management, and significant biological events having a material impact on the Company''s operations or financial position are disclosed in the financial statements, where required, in accordance with the applicable accounting standards and statutory requirements.

33	Contingent Liabilities and commitments
	Contingent liabilities and commitments (to the extent not provided for)	Year ended March 31, 2026	Year ended March 31, 2025
	(i) Contingent Liabilities (a) Claims against the company not acknowledged as debt
	(b) Guarantees
	1. In favour of Spl.Tahsildar	1.28	1.28
	2. In favour of KSEB 3. Foreign Bank Guarantee in favour of Navigator Insurance	9.57	9.57
	Company - USD. 50,000
	(c) Other money for which the company is contingently liable (Bills purchased by Banks)	481.89	215.11
		492.74	225.96
	(ii) Commitments (a) Estimated amount of contracts remaining to be executed on capital account and not provided for
	(b) Uncalled liability on shares and other investments partly paid	-	-
	(c) Other commitments	-	-
		-	-
	TOTAL CONTINGENT LIABILITIES AND COMMITMENTS	492.74	225.96

34 During the year, the Company has reclassified an unsecured interest-free loan amounting to ?59.50.00 lakhs from Non-Current Financial Liabilities to Current Financial Liabilities based on the revised assessment of the contractual terms and repayment obligations as at the reporting date. The reclassification has been made to appropriately reflect the expected timing of settlement of the liability in accordance with the requirements of Ind AS 1, Presentation of Financial Statements. This reclassification has no impact on the total liabilities, equity, profit for the year, earnings per share or cash flows of the Company.

35 During the year, the Company identified an error in the initial measurement of a security deposit received amounting to ?50.00 lakhs. In the previous period, the security deposit had not been accounted for at fair value as required under Ind AS 109, Financial Instruments. The Company has reassessed the measurement of the security deposit and corrected the error in accordance with Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors. Accordingly, the comparative figures have been restated, wherever applicable, to reflect the impact of the correction. The correction resulted in an adjustment to the carrying amount of the security deposit and the corresponding net impact on retained earnings to extent of ? 0.33 lakhs. The correction has no impact on the Company''s cash flows.

37 Audit Trail

As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, for the financial year commencing April 1, 2023, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company has used accounting software for maintaining its books of account that has a feature of recording an audit trail (edit log).Further, the Company uses a separate software for recording inventory transactions, in which the audit trail (edit log) feature has yet to be enabled or maintained.

38 Other Statutory Informations

38.1 Details of Benami property held

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 Rules made thereunder.

38.2 Borrowing secured against current assets

The Company has borrowings from banks and financial institution on the basis of security of current assets. There are certain difference in the quarterly returns or statements of current assets filed by the Company during the year with banks and financial institution.

38.3 Willful defaulter

The Company has not been declared willful defaulter by any bank or financial institution or other lender.

38.4 Relationship with struck off companies

The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

38.5 Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Companies Act, 2013, read with the Companies (Restriction on number of Layers) Rules, 2017.

38.6 Compliance with approved scheme of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

38.7 The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the intermediary shall 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 provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

38.8 The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding party) with the understanding (whether recorded in writing or otherwise) that the company shall 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 provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

38.9 Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

38.10 Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

38.11 Valuation of property, plant and equipment, right of use assets, intangible assets and investment property

The Company has not revalued its property, plant and equipment (including right of use assets), intangible assets and investment property during the current or previous year.

38.12 Core Investment Company

The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. It does not have any CICs, which are part of the Company.

38.13 Title deeds of immovable properties

The title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee), are held in the name of the Company.

38.14 Registration of charges or satisfaction with Registrar of Companies

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.

38.15 Utilisation of borrowings availed from banks and financial institution

The borrowings obtained by the Company from banks and financial institution have been applied for the purposes for which such loans were taken.

39 The Company has a system of periodic physical verification of Inventory, Property, Plant and Equipment and capital stores in a phased manner to cover all items over a period. Adjustment differences, if any, is carried out on completion of reconciliation.

40 The Company did not have any long term contracts including derivative contracts for which there were any material foreseeable losses.

41 Some balances of trade and other receivables, trade and other payables and loans are subject to confirmation/reconciliation. Adjustments, if any, will be accounted for on confirmation/reconciliation of the same, which will not have a material impact.

42 The Company has assessed the possible effect that may result from US Tariffs and Russia-Ukraine War, which is not significant on the carrying amounts of Property, Plant and Equipment, Inventories, Receivables and Other Current Assets. In the opinion of the management, the carrying amount of these assets will be recovered.

43 Figures in parenthesis as given in these notes to financial statements relate to previous years. Previous year figures have been regrouped wherever required.

44 The financial statements were approved for issue by the Board of Directors on May 30, 2026

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Mar 31, 2025

f) Taxation

Current Income Tax: - Tax on Income for current period is NIL and MAT provision

applicable u/s. 115 is NIL for the year due to carried forward losses

g) Deferred Tax: - Deferred Tax Asset remaining in books has not been written off
during the year as the management considers that it will be made good in the
coming years. Based on prudence and considering reasonable certainty of availability
future taxable income after setting of the existing losses no additional adjustment
on deferred tax has been made for the current year. In accordance with above, no
adjustments of Deferred taxes were made during the year for the timing differences.

h) Foreign currency transactions are accounted at the prevailing rates on the date of
transaction and exchange rate differences onmonetary assets and liability as on
closing date are dealt in the Profit & Loss Account wherever material.

i) Cash Flow Statement

Cash Flows are reported using the Indirect Method, whereby net profit before tax is
adjusted for the effect of transactions of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments

** Loan from/ Liability to others represent amount payable to Erstwhile Director of the company
incurred at the time when he was a Director of the company. As per clause 2(1)( C ) (viii) of
Companies (Acceptance of Deposits) Rules, 2014, the said amout is outside the purview of definition
of "Deposits" and therefore provisions of Section 74 of Companies Act 2013 is not applicable.

The Comoany has granted laon under Guaranted Emergecy Credit Line Scheme with reapyment over
*** 33 Equated Monithly isntlaments starting from July 2024 . The amount has been split into curent and
Non curret portion

Note 29: Segment reporting_

The company has only one segment. The company''s opertion predominently related to processing and exporting of marine
products and has disclosed exports as its primary segment. Since the income on account of other activities are only
incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue
receipts as per IND AS - 108, separate segment reporting is not applicable. Local turnover is not significant in total
turnover.Segment has been identified in time with IND AS 108 on Segment Reporting.

35. Employee Benefit Obligation

The Company provides for gratuity, a defined benefit gratuity plan covering eligible employees. Obligation
with regard to the gratuity plan is determined by an independent actuarial valuation on the reporting
date. The liability for the same is not funded against plan assets.

41. Provision for gratuity liability has been made on the basis of independent actuarial valuation, and the
same is not funded. As the company was hither to carrying business loss of earlier years, and shortage in
working capital, the company has not funded defined benefit plans as mandated in IND AS 19 ''Employees
Benefit'' The Company is not providing liability to leave encashment, as per policy of the Company no leave
can be carried forward

46. Additional Regulatory Information

i) The Title deeds pertaining to the immovable properties (except properties which are leased by the
company with duly executed agreements

^{statements are held in the nameof the company}.j _n the company''s favour) disclosed in the financial

ii) The Company has not revalued any of its Plant, Property and Equipment''s or intangible assets
during the year.

iii) The Company has not granted any loans or advances in the nature of loans to promoters, Directors,
KMPs. The Company has given trade advances to its wholly owned subsidiaries. In the case of
advances to related party, Interest is charged on the outstanding balances.

iv) The Company does not have any Benami property, and no proceeding has been initiated or pending
against the Company for holding any Benami property under the Benami Transactions (Prohibition)
Act, 1988 and rules made thereunder.

v) The company keeps inventory based on the availability of raw materials especially deep sea prawns
, and keep them in frozen form . The inventories are physically verified by the management during
the year and is found in good condition and are saleable in the normal course of business depending
on the export orders and all the items in inventory are within the shell life of the products.

vi) The Company has not been declared a willful defaulter by any bank or financial institution or
government or government authority.

vii) The Company do not have any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act 1956

viii) The Company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period other than that of vehicle purchased on Hire Purchase basis where
agreement is not obtained.

ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of
the Act read with the Companies (Restriction on number of Layers) Rules, 2017. There are no
relationship / extent of holding of the company in companies beyond the specified layers and the in
such downstream companies.

x) There are no scheme of arrangement approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013 during the year and so there is no effect is required to be
given in books of accounts the company.

xi) The Company has not advanced or loans or invested funds to any other persons or entities,
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
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.

xii) The Company has not received any fund from any persons or entities, 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 or on behalf of the Funding Party (Ultimate Beneficiaries) or

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

xiii) The Company has not traded or invested in Cryptocurrency or Virtual Currency during the year
ended March 31, 2025.

xiv) The Company does not have 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).

xv) There are no material uncertainty exists related to events or conditions that may cast significant
doubt on the Company''s ability to continue as a going concern. The Company will continue as a
going concern and is able to meet its liabilities as and when it is due and is able to realise the assets
in the ordinary course of the business of the Company.

xvi) The Company uses an accounting software for maintaining its books of account which has a feature
of recording audit trail (edit log). But it is not maintained for changes to certain records and changes
made by certain users with specific access and the company uses a different software for recording
transactions of inventory, wherein the audit trail (edit log) facility is not maintained

47. The standalone financial statements were authorized for issue in accordance with a resolution passed
by the Board of Directors on 30.05.2025

For and on behalf of the Board of Directors As per our report of even date attached

For ]i €C^M&socM!&m
Chartered Accountants

Anush K. Thomas Nithya Alex FRN: 010560S

Managing Director Director

DIN:01254212 DIN:02191256

CA. Jobby George
Partner (M. No.211174)

Sajeesh Kurian P Bindu Suresh M UDIN: 25211174BMKSHH5439

Company Secretary Chief Financial Officer

M.N. A56562

Place: Kochi
Date: 30/05/25

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Mar 31, 2024

42. Provision for gratuity liability has been made on the basis of independent actuarial valuation, and the
same is not funded. As the company was hither to carrying business loss of earlier years, and shortage in
working capital, the company has not funded defined benefit plans as mandated in IND AS 19 ‘Employees
Benefit''.

43. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.125 of
the Companies Act, 2013, as at the end of the year.

44. Cash Flows has been prepared under the ‘Indirect Method'' as set out in Ind AS 7, ‘Statement of Cash
Flows''.

45. Segmental Reporting

The Company is engaged in the sale of value of Marine Products. In addition to the export of Marine
products, the company has undertaken domestic sales and also started processing of marine products
belonging to others which is considered as a separate operating segment in accordance with Ind AS 108
on operating segments . The details related to these operating segments to the extent of information that
can be made available are as below.

46. Quarterly financial results are published in accordance with the listing agreements.

47. During the year, company could not achieve the sales volume due to general slowness in the sea food
industry and also cancellation/ postponement of certain orders. The profitability of the company is very
badly effected during the year and company incurred a loss of Rs. 275.21 lakhs for the year ended
31.03.2024. The loss during the year has also affected the liquidity position of the Company to a certain
extent. The company''s management is hopeful of realizing its current assets including the stock in hand
from future orders and is hopeful of discharging its liabilities as and when due and is able to continue as a
going concern.

48. Financial Liabilities

During the year the Company has received interest free security deposit of Rs.50 lakhs, which is treated
in accordance with Ind As 109 by applying bank rate of interest for arriving at the present value of
financial obligation . An amount of Rs. 2.37 lakhs as interest expense and Rs. 2.70 Lakhs deferred income
in accordance with the requirements of IND AS 109 on Financial Instruments

50. Additional Regulatory Information

i) The Title deeds pertaining to the immovable properties (except properties which are leased by the
company with duly executed lease agreements in the company''s favour) disclosed in the financial
statements are held in the name of the company.

ii) The Company has not revalued any of its Plant, Property and Equipment''s or intangible assets
during the year.

iii) The Company has not granted any loans or advances in the nature of loans to promoters, Directors,
KMPs. The Company has given trade advances to its wholly owned subsidiaries. In the case of
advances to related party, Interest is charged on the outstanding balances.

iv) The Company does not have any Benami property, and no proceeding has been initiated or pending
against the Company for holding any Benami property under the Benami Transactions
(Prohibition) Act, 1988 and rules made thereunder.

v) The company keeps inventory based on the availability of raw materials especially deep sea
prawns, and keep them in frozen form. The inventories are physically verified by the management
during the year and is found in good condition and are saleable in the normal course of business
depending on the export orders and all the items in inventory are within the shell life of the
products.

vi) The Company has not been declared a willful defaulter by any bank or financial institution or
government or government authority.

vii) The Company do not have any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956.

viii) The Company has not registered charges on loan sanctioned under Guarantee Emergency Credit
Line (GECL) scheme.

ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of
the Act read with the Companies (Restriction on number of Layers) Rules, 2017. There are no
relationship / extent of holding of the company in companies beyond the specified layers and the in
such downstream companies.

x) There are no scheme of arrangement approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013 during the year and so there is no effect is required to be
given in books of accounts the company.

xi) The Company has not advanced or loans or invested funds to any other persons or entities,
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 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.

xii) The Company has not received any fund from any persons or entities, 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 or on behalf of the Funding Party (Ultimate Beneficiaries) or

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

xiii) The Company has not traded or invested in Cryptocurrency or Virtual Currency during the year
ended March 31, 2024.

xiv) The Company does not have 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).

xv) There are no material uncertainty exists related to events or conditions that may cast significant
doubt on the Company''s ability to continue as a going concern. The Company will continue as a
going concern and is able to meet its liabilities as and when it is due and is able to realise the assets
in the ordinary course of the business of the Company.

51. Audit Trail

As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014, for the financial year commencing April 1, 2023, every company which
uses accounting software for maintaining its books of account, shall use only such accounting
software which has a feature of recording audit trail of each and every transaction, creating an
edit log of each change made in the books of account along with the date when such changes
were made and ensuring that the audit trail cannot be disabled.

The Company has used an accounting software for maintaining its books of account which has a
feature of recording audit trail (edit log) facility that has operated throughout the financial year
for all relevant transactions except:

for changes to certain tables where audit trail is not activated as part of default settings of the ERP
vendor. Also the Company is using a different software for recording of stock movement where
the audit trail facility is not been enabled

52. The standalone financial statements were authorized for issue in accordance with a resolution
Passed by the Board of Directors on 11.06.2024.

For and on behalf of the Board of Directors As per our report of even date attached

Sd/- Sd/-

Anush K. Thomas Nithya Alex

Managing Director Director

DIN: 01254212 DIN:02191256 For BSJ & Associates

Chartered Accountants
FRN:010560S

Sd/- Sd/-

Manjusha Mohandas Nair Bindu Suresh M

Company Secretary Chief Financial Officer ^Sd/-

CA. Jobby George
Partner (m. No.2U174)

UDIN: :24211174BKBNJU6226

Place: Vengalam
Date: 11-06-2024

---

Mar 31, 2015

Note 1: Segment reporting

The company has only one segment. The company's operation predominantly related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS 17, separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in time with AS 17 on Segment Reporting. Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the current year ended March 31, 2015 & Previous year ended 31st March 2014 have been prepared as per Schedule III of Companies Act 2013.

Note 3: Contingent Liabilities and commitments

For the year For the year Contingent liabilities and commitments ended 31 ended 31 (to the extent not provided for) March 2015 March 2014

(i) Contingent Liabilities

(a) Claims against the company not acknowledged as debt

Income Tax demand under appeal Nil 2,701,190

(b) Guarantees

1. Infavour of Spl.Tahsildar

2. In favour of KSEB 127,765 127,765

908,610 885,280

(c) Other money for which the company is contingently liable (Bills purchased by Banks) 72,504,177 34,416,267

73,540,552 38,130,502

(ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for Nil Nil

(b) Uncalled liability on shares and Nil Nil other investments partly paid

(c) Other commitments Nil Nil

Nil Nil

TOTAL CONTINGENT LIABILmES 73540552 38130502 AND COMMITMENTS

Note: 4 Related Parties Disclosure (a)Details of Related Parties:

Description of Relationship

Names of Related Parties

Key Management Personnel

Mr. Anush K Thomas - Managing Director

Mr. Iype Mathew- Director

Mr. K C Thomas- Director

Ms. Nithya Alex - Director

Mr. Mohanlal- Director

Mr. Nathram- Director

Mr. Thomas P Koshy- Chief Executive

Mr. Joseph P G- Company Secretary

Ms. Bindu Suresh- CFO

Company inwhich KMP/Relatives ofKMP can exercise si£nificant influence

M/s. Max Lab Cinemas And Entertainment Private Limited

M/s. Laab M Screens Private Limited

M/s. Vismayas Max Studio Complex Private Limited

M/s. Anuja Property Developers Private Limited

M/s. Surefire Securities Private Limited

M/s. Baby Memorial Hospital Limited

M/s. Caleb Securities Private Limited

M/s. Alston Builders And Developers Private Limited

M/s. Avruti Mall Management Company Private Limited

M/s. Kensha Builders And Developers Private Limited

M/s. Freo Rentals And Leasing Private Limited

M/s. Gilgal Property Developers Private Limited

M/s. Casper Securities Private Limited

M/s. Himax Builders India Private Limited

M/s. Cornelian Realtors And Developers Private Limited

M/s. Acelin Projects Private Limited

M/s. Enso Financial Consultancy Private Limited

M/s. Baby Marine Eastern Exports, Mandapam

M/s. Baby Marine Products, Malpe

M/s. Baby Marine Exports, Calicut

M/s. Tharian & Iype, Chartered Account ants

M/s. Ramnath & Co

M/s. Pranavam Arts

M/s. Lakshmi Agencies

Relatives of KMP with whom transactions have taken place during the year (other than those in the ordinary course of business) : NIL

Note:5

In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balance sheet unless otherwise stated

Note:6

Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of accounts only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

Note:7

Export premium and incentives are accounted on Receipt Basis.

Note:8

No amount is due for transfer to Investor-Education and Protection Fund in accordance with Sec.125 ofthe Companies Act, 2013, as at the end ofthe year.

Note:9

Cash Flow Statement is prepared under indirect method.

Note:10

Borrowing Cost:Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

Note:11

Quarterly financial results are published in accordance with the listing agreements.

---

Mar 31, 2014

1. LONG TERM PROVISIONS

Export packing credit limit of Rs. 7 Crores secured by first charge on all the goods to be exported and the whole of the company''s stock of marine products and also charge by way of hypothecation on land, building, machineries and equipments, ** and also personal guarantee of Mr. K C Babu, repayable on demand.

FDBP discounted as on 31.3.2014 has been secured against document of title to goods, evidencing export against LC and also by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C ** Babu, repayable on demand.

2. SEGMENT REPORTING

The company has only one segment. The company''s operation predominantly related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS - 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in tune with AS 17 on Segment Reporting. Operation ofthe company is at present only in India within a single geographical segment.

3. PREVIOUS YEAR FIGURES

The financial statements for the current year ended March 31, 2014 & Previous year ended 31st March 2013 have been prepared as per Revised Schedule VI.

4. CONTINGENT LIABLITIES AND COMMITMENTS

Contingent liabilities and commitments For the year For the year (to the extent not provided for) ended ended 31 March 2014 31 March 2013

(i) Contingent Liabilities

(a) Claims against the company noT acknowledged as debt 2,701,190 0.00

(b) Guarantees

1. Infavour of Spl.Tahsildar 127765 127765

2. In favour of KSEB 885280 885280

(c) Other money for which the company is contingently liable (Bills purchased by banks) 34416267 36884346

35429312 367897391

(ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for Nil Nil

(b) Uncalled liability on shares and other investments partly paid Nil Nil

(c) Other commitments Nil Nil

Nil NiL

38130502 367897391

5. Related Parties Disclosure

Relationship

1. M/s.Baby Marine Eastern Exports 11. M/s.Ramanath & Co.

2. M/s.Tharian & Iype 12. M/s.Pranavam Arts

3. M/s.Thomsun Electronics 13. M/s.Thomsun Supermarket

4. M/s.Thomsun Musics 14. M/s.East Fish Private Limited

5. M/s.Laxmi Agencies 15. M/s.Modus Logistic Pvt. Ltd.

6. M/s.Alston Builders & Developers 16. M/s.Casper Securities Pvt. Ltd. Pvt. Ltd.

7. M/s.Kensha Builders & Developers 17. M/s.Sure Fire Securities Pvt.Ltd. Pvt. Ltd.

8. M/s.Gilgal Property Developers 18. M/s.Clenergen India Pvt. Ltd. Pvt. Ltd.

9. M/s.Max Lab Cinemas and Entertainment Pvt. Ltd.

10. M/s.Falcon Infrastructures Limited

Note: Related party relationship is as identified by the company and relied upon by the auditors.

Transaction with related parties :-Nil

6. In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balance sheet unless otherwise stated.

7.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

8. Export premium and incentives are accounted on receipt basis.

a. Payment made to Directors

Directors are not claiming any commission and hence calculation of net profit under section 349 of the Companies Act, 1956 for computation of eligible commission to Directors are not given.

9. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205C of the Companies Act, 1956, as at the end of the year.

10. Cash Flow Statement is prepared under indirect method.

11. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

12. Allotment money of Rs. 1, 11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period.

13. Quarterly financial results are published in accordance with the listing agreements.

Notes: The above cash flow statwment has been prepared under the indirect method set out in As-3 issused by the Institute of Chartered Account of India.

Figures in brackets are outflows.

Previous year figures have been regrouped wherever necessary.

---

Mar 31, 2013

Note 1: Segment reporting

The company has only one segment. The company''s opeartion predominently related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS - 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover.Segment has been identified in time with AS 17 on Segment Reporting.Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the current year ended March 31, 2013 & Previous year ended 31 March 2012 have been prepared as per Revised Schedule VI.

3.In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balancesheet unless otherwise stated.

4.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

5.Key Management Personnel:

Mr. Anush K. Thomas, Managing Director and Mr. Thomas Koshy, Chief Executive Officer.

6. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205C of the Companies Act. 1956, as at the end of the year.

7. Cash Flow Statement is prepared under indirect method.

8. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

9. Allotment money of Rs. 1. 11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period. ,

10. Quarterly financial results are published in accordance with the listing agreements.

---

Mar 31, 2012

Export packing credit limit ofRs. 3 Crores secured byfirst charge on all the goods to be exported and the whole ofthe company's stock ofmarine products and charge by way of hypothecation on land, building, machineries and equipments, and also ** personal guarantee of Mr. K CBabu. Repayable on demand

FDBP discounted as on 31.3.2012 has been secured against document of title to goods, evidencing export against LC and by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. ** Repayable on demand.

Note 1: Segment reporting

The company has only one segment. The company's opeartion predominently related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in time with AS 17 on Segment Reporting.Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the previous year ended March 31,2011 had been prepared as per the then applicable, Schedule VI to the Companies Act, 1956. Consequent to the noification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the current year ended March 31, 2012 have been prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this years classification. The adoption of revised schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements._

Note: 3 Related Parties Disclosure

Relationship

1 Baby Marine Eastern Exports

2 Narayanan & Co.

3 Ramanath & Co.

4 M/s.Tharian & Iype

5 Pranavam Arts

6 Thomsun Eletronics

7 Thomsun Supermarket

8 Esat Fish Private Limited

9 Laxmi Agencies

10 SAM property developers and Hotels (p) Ltd Note: Related party relationship is as identified by the company and relied upon by the auditors. Transaction with related parties:- Ramanath & Co. Commission on Exports Rs. 175275_

4.In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balancesheet unless otherwise stated.

5.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

6. Sale of DEPB Licence is accounted on Realization Basis.

Directors are not claiming any commission and hence calculation of net profit under section 349 of the Companies Act, 1956 for computation of eligible commission to Directors are not given.

7. No amount is due for transfer to Investor Education and Protection Fund in accordance with sec.205C of the Companies Act, 1956, as at the end of the year.

8. Cash Flow Statement is prepared under indirect method.

9. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

10. Allotment money of Rs. 1,11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period.

11. Quarterly financial results are published in accordance with the listing agreements.

---

Mar 31, 2010

1. Contingent Liabilities not provided for Current Year Previous Year

a) Foreign documentary Bills Discounted Rs.2,49,26,725/- Rs.2,60,14,9007-

b) Bank Guarantee given by the Company in Favour of Special Tahsildar: Rs.1,27,765/- Rs.1,27,765/-

c) Bank Guarantee given in favour of KSEB Rs.8,64,970/- Rs.8,64,970/-



2. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205Cof the Companies Act, 1956, as at the end of the Year.

3. Cash Flow Statement is prepared under indirect method.

4. Contingencies and events occurring after the balance sheet date -NIL.

5. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognised as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

6. Allotment money of Rs.1,11,500 recoverable from share holders remains outstanding for long period

7. Quarterly financial results are published in accordance with the listing agreements.

8. Previous years figures have been regrouped wherever found necessary.