1.9 Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable
that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. 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.

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence will be
confirmed by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the
Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate
of the obligation cannot be made.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or
non- occurrence of one or more uncertain future events not wholly within the control of the Company. A contingent asset is
disclosed, where an inflow of economic benefits is probable. An entity shall not recognize contingent asset unless the recovery is
virtually certain.

1.10 Borrowing costs

Borrowing costs are interest and other costs incurred in connection with the borrowings of funds. General and specific
borrowing costs directly attributable to the acquisition/ construction of qualifying assets, which are assets that necessarily take a
substantial period of time to get ready for their intended use, are added to the cost of those assets, until such time the assets are
substantially ready for their intended use. All other borrowing costs are recognised as an expense in Statement of Profit and Loss
in the period in which they are incurred.

1.11 Recognition of income

Interest income from debt instruments is recognised using the effective interest rate method.

Dividend income is recognised when the Company’s right to receive the payment is established and it is probable that
the economic benefits associated with the dividend will flow to the Company and the amount of the dividend can be
measured reliably. This is generally when the shareholders approve the dividend.

1.12 Inventories

Finished Goods are valued at cost or net realisable value, whichever is lower. Cost is computed on first-in-first out basis. Net
realisable value is estimated selling price in ordinary course of business less the estimated cost necessary to make the sale. The cost
of inventories comprises all costs of purchase and other costs incurred in bringing the inventories to their present location and
condition. Obsolete, defective and slow/non-moving stocks are duly provided for. Securities are valued at fair value less costs to
sell.

1.13 Employee benefits

a) Defined contribution plan

The Company’s contribution to Provident Fund and Employees State Insurance Scheme is determined based on a fixed
percentage of the eligible employees’ salary and charged to the Statement of Profit and Loss on accrual basis. The Company has
categorised its Provident Fund, labour welfare fund and the Employees State Insurance Scheme as a defined contribution plan
since it has no further obligations beyond these contributions.

b) Defined benefits plan

The Company’s liability towards gratuity, being a defined benefit plan are accounted for on the basis of an independent ’actuarial
valuation based on Projected Unit Credit Method.

Service cost and the net interest cost is included in employee benefit expense in the Statement of Profit and Loss. Actuarial gains
and losses comprise experience adjustments and the effects of changes in actuarial assumptions and are recognised immediately in
‘other comprehensive income’ as income or expense.

c) Compensated absences

Accumulated compensated absences, which are expected to be availed or encashed within 12 months from the end of the year are
treated as short term employee benefits. The obligation towards the same is measured at the expected cost of accumulating
compensated absences as the additional amount expected to be paid as a result of the unused entitlement as at the year end. The
Company’s liability is actuarially determined (using the Projected Unit Credit method).

1.14 Income Tax

Income tax expense comprises current tax, deferred tax charge or credit. The deferred tax charge or credit and the corresponding
deferred tax liability and assets are recognized using the tax rates that have been enacted or substantially enacted on the Balance
Sheet date.

Deferred Tax assets arising from unabsorbed depreciation or carry forward losses are recognized only if there is virtual certainty
of realization of such amounts. Other deferred tax assets are recognized only to the extent there is reasonable certainty of
realization in future. Deferred tax assets are reviewed at each Balance Sheet date to reassess their reliability.

^1.15 Earnings Per Share

The Company reports basic and diluted earnings per equity share in accordance with Ind AS 33, Basic earnings per share is
calculated by dividing the net profit or loss for the period attributable to Equity Shareholders by the weighted average number of
equity shares outstanding during the period. For the purpose of calculating diluted Earnings per share, the net profit or loss for
the period attributable to Equity Shareholders and the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.

^1.16 Cash flow statement

Cash flow statements are prepared in accordance with “ Indirect Method” as explained in the Accounting Standard on Statement
of Cash Flows ( Ind AS-7). The cash flows from regular revenue generating, financing and investing activity of the Company are
segregated.

1.17

Cash and Cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term deposits with an original
maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short term deposits.

1.18 Significant management judgements in applying accounting policies and estimation uncertainty

When preparing the standalone financial statements, management makes a number of judgements, estimates and assumptions
about the recognition and measurement of assets, liabilities, income and expenses. Uncertainty about these assumptions and
estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in
future periods.

a) Impairment of non-financial assets

In case of non-financial assets company estimates asset’s recoverable amount, which is higher of an assets or Cash Generating
Units (CGU’s) fair value less costs of disposal and its value in use.

In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount rate that
reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less
costs of disposal, recent market transactions are taken into account, if no such transactions can be identified, an appropriate
valuation model is used.

b) Depreciation and useful lives of property, plant and equipment

Property, plant and equipment are depreciated over the estimated useful lives of the assets, after taking into account their
estimated residual value. Management reviews the estimated useful lives and residual values of the assets annually in order to
determine the amount of depreciation to be recorded during any reporting period. The useful lives and residual values are based
on the Company’s historical experience with similar assets and take into account anticipated technological changes. The
depreciation for future periods is adjusted if there are significant changes from previous estimates.

c) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds
resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and
quantification of the liability require the application of judgement to existing facts and circumstances, which can be subject to
change. Since the cash outflows can take place many years in the future, the carrying amounts of provisions and liabilities are
reviewed regularly and adjusted to take account of changing facts and circumstances.

d) Defined benefit obligation (DBO)

Managements estimate of the DBO is based on a number of critical underlying assumptions such as standard rates of inflation,
mortality, discount rate and anticipation of future salary increases. Variation in these assumptions may significantly impact the
DBO amount and the annual defined benefit expenses.

e) Fair value measurement

Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes are not
available) and non-financial assets. This involves developing estimates and assumptions consistent with how market participants
would price the instrument. Management bases its assumptions on observable data as far as possible but this is not always
available. In that case management uses the best information available. Estimated fair values may vary from the actual prices that
would be achieved in an arm’s length transaction at the reporting date.

1.19 Recent accounting pronouncements

Ministry of Corporate Affairs has issued Companies (Indian Accounting Standards) Amendment Rules, 2023 on March 31, 2024,
which contains various amendments to Ind AS. Management has evaluated these and have concluded that there is no material
impact on the Company’s standalone financial statements.

21. Fair value measurements

Financial instruments by category:

All financial assets and financial liabilities of the Company are under the amortised cost measurement category at each of the reporting dates
except quoted non-current investments and current investments, which are recognised and measured at fair value through statement of profit
or loss or other comprehensive income.

22. Financial risk management objectives and policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and
controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market
conditions and the Company’s activities. The Management has overall responsibility for the establishment and oversight of the Company’s risk
management framework. In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and
Market risk.

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 three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk.

Credit risk on financial assets

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge their obligations in full or in a

timely manner consist principally of cash balances with banks, cash equivalents and receivables, and other financial assets. The maximum exposure to

credit risk is: the total of the fair value of the financial instruments and the full amount of any loan payable commitment at the end of the reporting year.
The Company’s non-listed equity shares and mutual funds investments are susceptible to market price risk arising from uncertainties about future values
of the investment securities. The Company manages this price risk through diversification and by placing limits on individual and total equity
instruments. The Company’s Board of Directors reviews and approves all equity investment decisions.

Credit risk on cash balances with banks is limited because the counterparties are entities with acceptable credit ratings. Credit risk on other financial
assets is limited because the other parties are entities with acceptable credit ratings.

As disclosed in Note 5, cash and cash equivalents balances generally cash on hand and balances held with the bank in current account.

Exposure to credit risk

In the opinion of management, Financial Assets, Cash and Cash Equivalent, Loans, Other Current Assets and Other Financial Assets have a value on
realisation in the ordinary course of business atleast equal to the amount at which they are stated in the balance sheet.

The Company has not recognised any loss allowance as the Company expects that there is no credit loss on trade receivable.

During the year, the Company has incurred an insignificant amount towards finance cost. Further, the Company does not carry any financial liabilities as
at the Balance Sheet date, hence disclosures related to Ind-AS 107, paragraph 33, on exposures to risk, objectives, policies and procedures with regard to
financial liabilities are not applicable.

23. Capital Management

For the purpose of the Company’s capital management, capital includes issued equity capital, securities premium reserve and all other equity reserves
attributable to the equity holders. The primary objective of the Company’s capital management is to maximise the shareholder value. The Company has
adequate cash and cash equivalents. The company monitors its capital by a careful scrutiny of the cash and cash equivalents and a regular assessment of
any debt requirements. In the absence of any debt at the year end, the maintenance of debt equity ratio etc. may not be of any relevance to the
Company.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2024 and 31 March 2025.

As the Comp any operates in Single Segment only ie 'leading of Flashes, Import S:Export and others it didnot give the to different operating segments in accordance with Ind AS 108- Operating Segments.

Note 33 Other statutory informatiai

[a.) The C o nip any does not hrve any Bemm property inhere any proceeding has been initn ted or pendirg against the Company for holding ar^ Brnami property under the Benami Hansactiom |P rohibitiori) Act, 1988 (45 of 1988) and. rules trade thereunder.

ftiTha Compaiv does not have transactions with companies stnxlt off under Section 248 of the Companies Act, 2013 or section 300 of tie Companies Act, 19 JO.

(c) Hie C ompany does not have art,' charges or sate faction which e yet t o be registered with ROC beyond the statut ory petio d

(d) Hie C ompany has not tu de d or investe d in Crypt o cuirency or Vimul Clatency during and previous financial year.

(e) During tlie current financial year andprevious financial tear, other than the transachon undertaken in tlie normalcotase of business.

(f) Ho funds have beenadvanoed cir loaned or invested by tie Compare to orinar^ other pets on(s) or entity lies), including foreign enhhes 0 into into d it tie sT with the understanding that the Intermediary sink directly or indirectly lend or invest in party identified in any rrarmer
whatsoever by or on behalf of the C ompany £ ‘Ultima te beneficiaries’') cr provide any guarantee security or the like to or on behalf of file Ultirrate Beneficiaries.

|i£| Hie Cotr^iany has not leceive dar^ fund from any pers cin|i) or entity|ioi|. including foreign entities (Funding Partyi with the understanding that the Compary shall whether, direct^ or indirectly lend orirarest in other pen ons or entities identifie d m any manner wluIs oever
by cr cm behalf of the Fundiipg Piny (“Ultimate beneficniietf’) or provide any guarantee, security cr tlie like on belialf of file Ultiimte Beneficaiies

Hie C ompany does not have ary such transaction which is not recorded in the books of accounts tint has been surrendered or disclosed as income during the year in the tax assessments under the Ire one Tax Act, 1961 (such as, search or survey or any other relevant
provision! of file Income Tbx Act, 1961)

(g He Company h not declaredas wilful defaulter by any tank orfhurcalirEtitufion or any other lender.

(h) Tlie Company has corralled with the number of layers prescribed under clause (87) of section 2 of the Companies Act2013 read with Companies (restriction on numbers of layers) rub, 2017
(!) Hie Company does not lave any Capital work in Progress and intangible assets under development.

(j) Hie C ompany has not revalued its property plant and equipment (including Right-of-Use Assets) or intangible assets, if any during the year as well as in previotE financial year.

ikiThe C ompany lias no s client ofammgement which have been approved by the Competent Authority in tenns of Section 230 to 237 of the Companies Act, 2013 during and previous financial year.

(I) Hie Company dees not have ai^ borrowings from banhs or firancial institutions on the bash of security of current assets.

(hi) Based on oureaamination, which included test checks, the C ompany has iced accounting software systems for maintaining its books of account tor the firarr ial year ended March 31,2023 which have tit feature of recording audit trail (edit log facility and tit same his
op eiate d throi^h out tlie year for all relevant transactions record din the software systems. Further, during file course of our audit we did not cont across any instance of tit audit trail feature being tampered with and the audit trailhas been preserved by the Company as per
the statut ory requirements for record retention.

Note 34 Hie figures of the previois year hive been reworked, regrouped, rearranged and reclassified, wherever coraidered necessary to confirm to the current year presentation
Signature to N otes 1 to 34
As per our rep «T of even date

F<Ý Maheshuah Se Co. For aoid or behalf of die Board ol Direetarsof Pet Plastics limited

(Firm Beg. No. ID3834®)

Chartered Accountants

Vikas Asawa RiteshVatd Tin II I Skjdi

Partner Director Director

Membership No. 172133 [DIN:C0133325] [DINCO135263]

UO«t.2S17213SMlWMBe

Pinjcrh Fiaiaiihhai Oiaudhary 'Itislta TaHahramani

Place: Mumbai ChbfFinancial Ofiicer Company Secretary

Date: 33thMay2023 |PAN: BBNPC2704C] [PAN:DPCPS3214A]