1.1 Provisions and Contingent liabilities:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires
an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a
contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not,
require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the
likelihood of outflow of resources is remote, no provision or disclosure is made.

The loan facility has been availed from the bank by Floor Craft, a proprietorship concern of Mrs. Anjana Rakhasiya,
who is also a Director of Manoj Ceramic Limited. Manoj Ceramic Limited has been included as a co-applicant/co-
borrower for the said loan. Accordingly, the Company's liability in respect of this facility is contingent in nature and
would arise only in the event of default by the principal borrower, Floor Craft.

1.2 Provision for Taxation:

a The Company has during the year, provided the current year tax liability of Rs. 515.33 Lakhs (previous year Rs.
446.90 Lakhs) calculated as per the provisions of Income Tax. As the Company has adopted new tax regime hence no
MAT credit is available under new tax regime.

b Company has recognised deferred tax credit of Rs. 64.73 Lakhs (previous year deferred tax credit of Rs. 8.07 Lakhs)
during the year pertaining to timing difference which will be reversed in subsequent year. There is virtual certainty of
such benefits being available in future period and thus the income has been recognised. The major components of
Deferred Tax assets and deferred tax liabilities as at 31st March 2026 arising out of timing differences.

1.3 Sundry Debtors, Sundry Creditors, unsecured loans and advances are subject to confirmation by the respective parties
and reconciliation. The impact of the differences, if any will be given in the year of settlement of accounts.

1.4 The Company has entered into an agreement with Manoj D. Rakhasiya for the use of the brand "MCPL", which is
owned by him. Pursuant to the said agreement, the Company has provided an interest-free Security and Performance
Deposit amounting to Rs. 675.00 Lakhs. No royalty has been paid during the current financial year for the use of the
said brand in the course of the Company's business operations.

1.5 Figures of the previous year have been rearranged / reclassified wherever necessary, to correspond with current year
presentation.

1.6 The backup of Books of Accounts maintained in electronic form through Tally is taken on a daily basis and stored on
the server located at Unit No. 2 to 8, Building No. 19 & 24, Indian Corporation Compound, Opp. Gajanan Petrol Pump,
Mankoli Naka, Dapode Road, Bhiwandi, Thane - 421302.

1.7 Lease payments of Rs 299.24 Lakhs (Previous year Rs. 207.73 Lakhs) have been recognized as expenses in the
statement of profit & loss for the year ended 31st March'2026. Lease are cancellable and current financial year &
future lease payments are shown as below: -

Note 2.1(a): Terms & Conditions:

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

As on August 01, 2023 sub-division of each existing equity share of face value of Rs. 100 (Rupees Hundred only) into face value of Rs. 10
(Rupees Ten only) fully paid-up and consequently the number of issued capital was increased from 1,50,000 equity shares of face value of Rs.
100 each into 15,00,000 equity shares of face value of Rs. 10 each .

During FY 2024-25, the Company increased its Authorised Share Capital from Rs. 11,50,00,000/- divided into 85,00,000 Equity Shares of Rs. 10/-
each and 3,00,000 Preference Shares of Rs. 100/- each to Rs. 22,00,00,000/- divided into 1,90,00,000 Equity Shares of Rs. 10/- each and
3,00,000 Preference Shares of Rs. 100/- each, and consequently altered the Memorandum of Association of the Company.

As on August 17,2023 Company has allotted 45,00,000 equity shares of face value of Rs. 10 each as bonus shares in the proportion of 3 (Three)
Equity Share for Every 1 (One) equity share of face value of Rs. 10, by capitalising an amount of Rs. 450 Lakhs from Reserve & Surplus.

During the FY 2023-24, Company has made Initial Public Offering (IPO) of 23,34,000 equity shares of face value ^ 10/- each, at a price of ^ 62/-
per equity share (including a premium of ^ 52- per equity share) ("issue price") aggregating ^ 1,447.08 Lacs ("the issue") to meet the business
needs of the Company and listed the shares on BSE SME Platform on 03rd January 2024.

During the financial year ended 31st March 2025, the Company has issued 30,73,000 equity shares through an Private placement on a
preferential Basis at Face Value of Rs. 10 each and Securities Premium of Rs. 151 each per share on 16th December 2024 and 21st December
2024.

During FY 2025-26, the Company has Alloted 23,00,000 equity shares through an Private placement on a preferential Basis at Face Value of Rs.
10 each and Securities Premium of Rs. 151 each per share by converting Share warrants.

In the event of liquidation, the equity shareholders eligible to receive the residual assets of the Company after distribution of all preferential
amounts, in proportion to their shareholding.

Note 2.1(c):Preference Share Dividend Waiver:

During FY 2025-26, the holders of 250,000 preference shares of the Company, with a dividend rate of 15%, voluntarily waived their right to
receive dividends for the year ended 31st March 2026.

Accordingly, no dividend has been accrued or paid on these shares for the year ended 31st March, 2026. The waiver was formally approved
and documented by the Board of Directors on 05th April, 2025, in accordance with the provisions of the Companies Act, applicable corporate
governance policies, and the terms and conditions governing the preference shares.

This waiver does not affect the rights of the preference shareholders in respect of dividends in future periods unless otherwise waived or
modified.

Note 2.3: Rights, preference and restrictions attaching to the each class of share:

a) The Company has two class of shares i.e Equity Shares and Non-Cumulative Redeemable Preference shares having at face value of Rs. 10 each and Rs. 100 each respectively. 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 the 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.

Notes:

The Company has allotted convertible warrants in two tranches as follows:

During the FY 2024-25, the Company allotted 10,00,000 warrants compulsorily convertible into equity shares on 16 December 2024 to persons other than promoters and 14,00,000 such warrants on 21 December 2024 to the
promoters, on a preferential basis. At the time of allotment, the Company received 25% of the total consideration against each warrant. Subsequently, during FY 2025-26, on 28 April 2025, the Company allotted 10,00,000 equity
shares to non-promoters upon conversion of warrants, through private placement on a preferential basis, at a face value of ^10 per share and a securities premium of ^151 per share. Further, on 2 December 2025, the Company
allotted 13,00,000 equity shares to promoters upon conversion of warrants, through private placement on a preferential basis, at a face value of ^10 per share and a securities premium of ^151 per share. As at the reporting date,
1,00,000 warrants allotted to the promoters remain outstanding and are yet to be converted into equity shares.

Note 4.1: Security for loan against vehicle:

Secured by way of:

Vehicle loan is from HDFC Bank which is secured against the vehicle.

Note 4.2: Security for term loan
Secured by way of:

MSME LAP (UTHHAN 2.0) Indian Bank:

Registered mortgage of commercial land and building i.e. hotel cum resort situated at Chandekasare village, survey no. 21/4, Mikat no. 636, i. e.
Friends hotels and resorts on Shirdi-nashik road, Near Arjun adventure park, Tal. Kopargoan, Dist Ahmednagar. Collateral guarantee given on
behalf of director by his friend.

Union Bank of India-UGECL -2:

Extension of charge over Stock and Book debts.The said loan facility was fully closed during the financial year 2025-26. The aforesaid loan was
secured by extension of charge over the stock and book debts of the Company. The outstanding amount as at 31 March 2025 was ^89.19 Lakhs.

Note 4.3:

Unsecured Loans from Banks: The company has taken unsecured loans from following banks:

KOTAK MAHINDRA BANK
IDFC First Bank
INDUSLND BANK
UNITY SMALL FINANCE BANK

Unsecured Loans from NBFC: The company has taken unsecured loans from following NBFC's:

Poonawala Fincorp
SMC Finance (Moneywise)

Credit Saison Finance Ltd
Fedbank Financial Service
Ambit Finvest Pvt. Ltd
Bajaj Finance Ltd
Godrej Finance Ltd
Mas Financial Services
Protium Finance Ltd

Unsecured Loans from Others-ICD:

Rupa Infotech and Infrastructure Pvt. Ltd.

Rupa Renaissance Limited

Loans from Rupa Renaissance Limited are repayable at the end of 5 years from the date of disbursement, whereas loans from Rupa Infotech and
Infrastructure Pvt. Ltd. are repayable at the end of 10 years from the date of disbursement.

Long term loans from Directors:

The loans received from directors are unsecured, carry interest at mutually agreed rates and repayable beyond 12 months from the reporting
date. There are no fixed terms of repayment.

Reason for differences:

1) There is a discrepancy between the amount reported in quarterly statement / return and the amount as per books of account. Discrepancies
are due to the following reasons.

The company to meet the compliance needs has to submit its data within stipulated time lines. Accordingly, the data prevailing as on those
reporting dates as per books of accounts are submitted to banks, which is subject to accounting adjustments.

6.1 Security for Cash credit from Bank:

Axis Bank - CC Account:

During the financial year 2025-26, the Company availed a cash credit facilityfrom Axis Bank for a tenure of oneyear. The facility was secured by
a charge over the Company's stock and book debts outstanding for a period of less than 120 days. The sanctioned limit under the said facility
was ^300 Lakhs.

Collateral Security on following Property:

Shop No. 1, 2 & 1/A, Ground Floor, A wing, Krishna kunj, Cooperative Housing Society, Opp. Paras Dham & Near Shri Gurukrupa Veg Hotel,
Vallabh Baug Lane, Plot no. 140, Village Ghatkopar Kirol, Ghatkopar (East), Mumbai: 400077. The said property is owned by the Director -Manoj
Rakhasiya.

Indian Bank - CC Account:

Duringthe financial year 2025-26, the Company availed a cash credit facility from Indian Bank for a tenure of one year on pari passu charge. The
facility was secured by a charge over the Company's stock and book debts outstanding for a period of less than 120 days. The sanctioned limit
under the said facility was ^145 Lakhs.

Collateral Security on following Property:

Residential flats - 101, 1204 & 1601 in Building no 34, HS Ozone, Pant Nagar, Prasanna Co-op Hsg Society Ltd, Survey no 236-A, CTS no 5562,
Kirol Ghatkopar (East), Mumbai: 400077. Additionally, there is Lien on Fixed Deposits (FDR) with Indian Bank for Rs.211.1 Lakhs.The said
property is owned by Manoj Ceramic Limited.

6.2 Unsecured Loans from Directors and Related Parties:

The unsecured loans received from directors are repayable on demand and, in any case, are expected to be repaid within 12 months from the
reporting date.

6.3 Loan from NBFC/Bank -Purchase Invoice discounting:

The Company has entered into Purchase Invoice Discounting arrangements with financial institutions for settlement of supplier invoices. The
arrangements are linked to trade purchases and facilitate supplier payments while providing extended credit terms to the Company. Pursuant to
the arrangement, the financial institution settles approved supplier invoices and the Company repays the financial institution on the agreed due
dates together with applicable finance charges.

Note on Trade Credit Insurance:

The Company has obtained a Trade Credit Insurance Policy from SBI General Insurance Company Limited covering risks of protracted default and
insolvency in respect of domestic trade receivables arising from sale of ceramic sanitary ware. The policy is valid for the period from 30 September
2025 to 29 September 2026.

Balance with Government Authorities:

Balance with Government Authorities primarily comprises tax deducted at source (TDS) of ^ 40.43 Lakhs by customers on payments made to the
Company, for which credit is available under the provisions of the Income-tax Act, 1961 and is recoverable/adjustable against future income tax

Prepaid Expenses

Prepaid Expenses primarily comprise interest amounting to ^18.84 Lakhs relating to Purchase Invoice Discounting arrangements, which was not due
for payment as at 31 March 2026 and has accordingly been recognized as a prepaid expense. The balance mainly represents premiums paid in
advance towards various general insurance policies, the benefits of which extend beyond the reporting date.

Advance to suppliers

As at 31 March 2026, advances to suppliers aggregating to ^10,031.21 lakhs represent amounts paid towards the procurement of goods in the
ordinary course of business. These advances are expected to be adjusted against future supplies and settled within the Company's normal operating
cycle.

A portion of these advances was made as a prudent business continuity measure during a period of heightened global uncertainty, including
geopolitical developments that had the potential to impact supply chains. Such advances were extended with the objective of securing
uninterrupted availability of goods, mitigating potential price volatility, and minimizing the risk of operational disruptions. Management believes
that these advances are commercial in nature and recoverable through the receipt of future supplies in accordance with the agreed terms of trade.

Note 29: Earnings Per Share:

Disclosure pursuant to Accounting Standard (AS) 20 - 'Earnings Per Share', as notified under the Companies (Accounting Standards)
Rules, 2021.

The Company has issued potential equity shares and accordingly basic earnings per share and diluted earnings per share are different.
Earnings per share is calculated by dividing the profit after tax attributable to equity shareholders by the weighted average number of
equity shares outstanding during the year.

Note 33: Gratuity:

The Company operates a defined benefit gratuity plan for its eligible employees. Under the plan, an employee who has completed five years of continuous
service is entitled to gratuity benefits in accordance with the provisions of the Payment of Gratuity Act, 1972. The gratuity liability is determined on the
basis of an actuarial valuation carried out at the Balance Sheet date. The level of benefits provided depends on the employee's length of service and salary
at the time of retirement, resignation, death, or disablement. The gratuity plan is currently unfunded.

The following tables summarise the components of net benefit expense recognised in the summary statement of profit or loss and the funded status and
amounts recognised in the statement of assets and liabilities for the respective plans:

The disclosure in respect of the defined Gratuity Plan are given below:

Note 34: Other Statutory Information:

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

ii The Company is not declared wilful defaulter by any bank or Financial institution or other lender during the year.

iii The Company does not have any transactions with companies struck off.

iv The Company has certain charge satisfaction filings pending registration with the Registrar of Companies beyond the statutory period prescribed
under the Companies Act, 2013. The Company is taking necessary steps to complete the requisite filings.

v The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), 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

vi Company has not granted any loans or advances to it promoters, directors, KMPs and related parties (as defined under Companies Act, 2013)

vii 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:

(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

viii Company has not traded or invested in Crypto currency or Virtual currency during the year financial 2025-26

ix Company has not recorded any transaction 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)

x Company has not revalued its Property, Plant and Equipment (Including right-of-use asset) or Intangible asset during the current and previous financial
year

xi The Company is in compliance with the provisions relating to the number of layers prescribed under the Companies Act, 2013.