a) Provisions

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. When the Company expects some or all of a provision to be reimbursed, for example, under
an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The
expense relating to a provision is presented in the Statement of Profit and Loss net of any reimbursement. Provisions are not recognised
for future operating losses.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation
at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is
recognised as interest expense.

b) Contingent Liability

Contingent Liability is disclosed in the case of:

i. A present obligation arising from the past events, when it is not probable that an outflow of resources will be required to settle the
obligation;

ii. A present obligation arising from the past events, when no reliable estimate is possible;

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

2.14 LEASES

The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the
lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset or assets and the
arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.

i) Company as a Lessee

a) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e. the date the underlying asset is available
for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct
costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use
assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets.

In respect of Leasehold Land , the Management does not expect any impairment hence no depreciation have been charged in
respect the same.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase
option, depreciation is calculated using the estimated useful life of the asset.

The right-of-use assets are also subject to impairment. Refer to note 2.6 above for accounting policies on impairment of
nonfinancial assets.

b) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments
to be made over the lease term. The lease payments primarily comprise of fixed payments.

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement
date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease
liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.

c) Short-term leases and leases of low value assets

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

ii) Company as a Lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as
operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease.

Leases are classified as Finance leases when substantially all of the risks and rewards of ownership transfer from the Company to the
lessee. Amounts due from lessees under finance leases are recorded as receivables at the Company’s net investment in the leases. Finance
lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in
respect of the lease.

2.15 EARNING PER SHARE

a) Basic Earnings Per Share

Basic Earnings Per Share is calculated by dividing the profit attributable to owners of the Company by the weighted average number of
equity shares outstanding during the period. Earnings considered in ascertaining the company’s earnings per share is the net profit for
the period after deducting preference dividends, if any, and any attributable distribution tax thereto for the period.

b) Diluted Earnings Per Share

Diluted Earnings Per Share adjusts the figures used in the determination of basic earnings per share to take into account the after income
tax effect of interest and other financing costs associated with dilutive potential equity shares and the weighted average number of
additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

2.16 CASH AND CASH EQUIVALENTS

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature,
any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or
financing Cash Flows. The cash flows from operating, investing and financing activities of the Company are segregated.

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

2.17 DIVIDEND

The Company recognises a liability for dividends to equity holders of the Company when the dividend is authorised and the dividend is no
longer at the discretion of the Company. As per the corporate laws in India, a dividend is authorised when it is approved by the shareholders.
A corresponding amount is recognised directly in equity.

2.18 ROUNDING OFF

All amounts disclosed in the financial statements and notes have been rounded off to the nearest rupees in Lakhs, unless otherwise stated.

2.19 EXCEPTIONAL ITEMS

Certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the Company is such
that its disclosure improves the understanding of the performance of the Company, such income or expense is classified as an exceptional
item and accordingly, disclosed in the notes accompanying to the financial statements.

2.20 OPERATING CYCLE

All assets and liabilities have been classified as current or non-current as per each Company’s normal operating cycle and other criteria set
out in the Schedule III to the Act

2.21 SEGMENT REPORTING

As the Company has only one primary business activity, Segment reporting is not applicable.

2.22 RECENT PRONOUNCEMENT
Indian Accouting Standards:

The Ministry of Corporate Affairs (“MCA”) notifies new standards or amendment to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2025, MCA has notified Ind AS - 117 Insurance
contracts and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions, applicable to the Company w.e.f.
April 1, 2024. The Company has reviewed the new pronouncements based on its evaluation has determined that it does not have any
significant impact in its financial statements.

Capital Reserve

Capital Reserve was created on acquisition of Propreitorship concern “Fineotex Chemical Industries” in FY 2007-08 in Slump Sale.

Capital Redemption Reserve

The Company had purchased its own shares and as per the provisions of the applicable laws, a sum equal to the nominal value of the shares so
purchased is required to be transferred to the capital redemption reserve.

Securities Premium

The amount received in excess of face value of the equity shares is recognised in Securities Premium.The reserve is utilised in accordance with
the provisions of the Act.

Retained Earnings

Retained earnings are the accumulated profits earned by the Company till date, less transfer to general reserves, dividend (including dividend
distribution tax) and other distributions made to the shareholders.

Equity-Settled share-based payment reserve

This reserve is created by debiting the statement of profit and loss account with the value of share options granted to the employees by the
Company. Once shares are issued by the Company, the amount in this reserve will be transferred to Share capital, Securities premium or retained
earnings.

Items of Other Comprehensive Income
Remeasurements of Net Defined Benefit Plans:

Differences between the interest income on plan assets and the return actually achieved, and any changes in the liabilities over the year due to
changes in actuarial assumptions or experience adjustments within the plans, are recognised in other comprehensive income and are adjusted to
retained earnings.

Measurement of Fair Values :

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction
between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:

- The fair values of investment in shares is the share price quoted on recognised stock exchange as on the reporting date of balance sheet .

- The fair values of investment in mutual fund is the N.A.V as on the reporting date of balance sheet .

- The fair values of interest free security deposit given / accepted is estimated by discounting cash flows using rates currently available
for instruments with similar terms, credit risks and remaining maturities. Management regularly assesses a range of reasonably possible
alternatives for those significant observable inputs and determines their impact on The total fair value.

NOTE 40: FINANCIAL RISK MANAGEMENT

The company’s activities expose it to variety of financial risks: market risk, credit risk, interest rate risk and liquidity risk. The Company has a risk
management policy which covers risks associated with the financial assets and liabilities. The risk management policy is approved by the Board
of Directors. The focus of the risk management committee is to assess the unpredictability of the financial environment and to mitigate potential
adverse effects on the financial performance of the Company.

(a) Market Risk:-

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates, equity
prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial
instruments including investments and deposits , foreign currency receivables, payables and loans and borrowings. The objective of market
risk management is to avoid excessive exposure in our foreign currency revenues and costs.

(a) (i) Market Risk - Interest Rate Risk

Interest rate risk is the risk that the fair value of future cash flows of the financial instruments will fluctuate because of changes in
market interest rates. The company’s exposure to the risk of changes in market interest rates primarily to the Company’s borrowings,
both short term and long term obligations with fixed and floating interest rates. However the companies exposure to floating rate
borrowings are very limited to its size of operation.

The company is also exposed to interest rate risk on its financial assets that include fixed deposits (which are part of cash and cash
equivalents) since all these are generally for short durations, there is no significant interest rate risks pertaining to these deposits.

Sensitivity analysis to interest rate risk

The company doesn’t account for any fixed rate financial assets or financial liabilities at fair value through profit or loss. Therefore, a change in
interest rates at the reporting date would not affect profit or loss.

(a) (ii) Market Risk - Price Risk (Securities)

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price.

Exposure to Price Risk

Other price risk arises from financial assets such as investments in equity instruments and mutual funds disclosed below.

The Company does make deposit with the banks as margin money against the borrowing facility provided by the banks. Deposit is made in fixed
rate instrument. In view of this it is not susceptible to market price risk, arising from changes in interest rates or market yields which may impact
the return and value of the investments.

Trade Receivables

The Company has established a credit policy under which each new customer is analysed individually for creditworthiness before the
payment and delivery terms and conditions are offered. The Company’s review includes external ratings, if they are available, financial
statements, industry information, business intelligence and in some cases bank references.

Trade Receivables of the Company are typically unsecured ,except to the extent of the security deposits received from the customers or
financial guarantees provided by the market organizers in the business. Credit Risk is managed through credit approvals and periodic
monitoring of the creditworthiness of customers to which the Company grants credit terms in the normal course of business. The Company
performs ongoing credit evaluations of its customers’ financial condition and monitors the creditworthiness of its customers to which it grants
credit terms in the normal course of business. The Company has no concentration of Credit Risk as the customer base is geographically
distributed in India.

Expected credit loss for trade receivable:

The allowance for impairment of Trade receivables is created to the extent and as and when required, based upon the expected collectability
of accounts receivables. On account of adoption of Ind AS 109, the Company uses lifetime Expected Credit Loss (ECL) model for assessing
the impairment loss. For this purpose, the Company uses a provision matrix to compute the expected credit loss amount for trade receivables.
Loss rates are based on actual credit loss experience and past trends. The provision matrix takes into account external and internal credit risk
factors and historical experience / current facts available in relation to defaults and delays in collection thereof. Accordingly based on the
provision matrix the expected credit losses to the company are recognised and accordingly expected credit loss provision has been created.

Other Financial Assets

The company maintains exposure in Cash and Cash equivalents and Bank deposits with banks, Equity Shares and Investments in Mutual
Funds. The Company has diversified portfolio of investment with various number of counterparties which has good credit ratings, good
reputation and hence the risk is reduced. Individual risk limits set for each counterparty based on financial position, credit rating and post
experience. Credit limits and concentration of exposures are actively monitored by the Company.

Expected credit loss on financial assets other than trade receivable:

With regards to all financial assets with contractual cash flows other than trade receivable, management believes these to be high quality
assets with negligible credit risk. The management believes that the parties from whom these financial assets are recoverable, have strong
capacity to meet the obligations and where the risk of default is negligible and accordingly no provision for expected credit loss has been
provided on such financial assets. Break up of financial assets other than trade receivables have been disclosed on balance sheet

The Company’s maximum exposure to credit risk as at 31st March, 2025,and 31st March, 2024 is the carrying value of each class of financial
assets.

(c) Liquidity Risk

Liquidity Risk is the risk that the Company will face in meeting its obligation associated with its financial liabilities that are settled by
delivering cash or another financial asset. The Company’s approach in managing liquidity is to ensure, as far as possible, that it will have
sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or
risking damage to the Company’s reputation. Any short term surplus cash generated, over and above the amount required for working capital
management and other operational requirements is retained as Cash and Cash Equivalents (to the extent required).

Exposure to Liquidity Risk

The responsibility of liquidity risk management rests with the Board of Directors, who are responsible for establishing an appropriate risk
management framework for short-, medium-, and long-term liquidity measures, ensuring adequate cash flows and banking facilities.

The following table shows the maturity analysis of the Company’s Financial Liabilities based on contractually agreed undiscounted cash
flows along with its carrying value as at the Balance Sheet Date

Note:

Related parties are identified by the Company and relied upon by the Auditors

* Provision for contribution to gratuity fund which are made based on actuarial valuation on overall company basis are not included in remuneration
to Key Management Personnel.

44 SEGMENT REPORTING

The Company primarily operate in segmant of Manufacturing of Textile Chemicals , Auxiliaries and Speciality Chemicals. The Chairman and Whole Time
director/ Managing Director of the Company allocate resources and assess the performance of the Company, Thus are the Chief Operating decision maker
(CODM). The CODM monitors the operating results of the business as a one, hence no seprate Segmant need to be Disclose.

45 a. Loans given, Investments made and Corporate Guarantees given u/s 186(4) of the Companies Act, 2013 are disclosed under the

respective notes.

b. Disclosure as per Regulation 53(1) of SEBI (Listing Obligation and Disclosure Requirements) Regulations:

Loans and advances in the nature of loans given to subsidiary and investment in shares of the Company by such parties:

The Board of Directors at its meeting held on 20th May , 2025 have recommended a payment of final dividend of Rs.0.40 (Rupee Forty paise
only) per equity share of face value of Rs.2/- each for the financial year ended 31st March, 2025.

The above is subject to approval at the ensuing Annual General Meeting of the Company and hence is not recognised as a liability.

CORPORATE INFORMATION 1

SIGNIFICANT ACCOUNTING POLICIES 2

NOTES ON ACCOUNTS 3 to 49

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

For ASL & CO Surendra Tibrewala Sanjay Tibrewala

Chartered Accountants Chairman & Managing Director Executive Director & CFO

Firm Reg. No. 101921W DIN: 00218394 DIN: 00218525

Shikha Jain Sunny Parmar

Partner Company Secretary

Membership No. 136484 M No. A67264

Mumbai, 20th May 2025 Mumbai, 20th May 2025