Provisions are recognized for liabilities that can be measured only by using a substantial degree of estimation,
if:

(iv) the company has a present obligation as a result of a past event,

(v) a probable outflow of resources is expected to settle the obligation; and

(vi) the amount of the obligation can be reliably estimated.

Provision is measured using the cash flows estimated to settle the present obligation and when the effect of
time value of money is material, the carrying amount of the provision is the present value of those cash flows.

(i) a present obligation arising from a past event when it is not probable that an outflow of resources will be
required to settle the obligation or the amount of obligation cannot be measured with sufficient reliability;
or

(ii) a possible obligation arising from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
entity.

Contingent assets are neither recognized nor disclosed .

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

P. Revenue from operations

(a) Recognition of revenue:

Revenue is recognised on the basis of approved contracts regarding the transfer of goods or services to a
customer for an amount that reflects the consideration to which the entity expects to be entitled in exchange
for those goods or services.

(b) Measurement of revenue :

Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts,
incentives, volume rebates and schemes, if any, as per contracts with customers. Transaction price is the
amount of consideration to which the Company expects to be entitled in exchange for transferring good or
service to a customer. Taxes collected from customers on behalf of Government are not treated as Revenue.

(c) Performance obligations:

Sale of goods:

Revenue from contracts with customers involving sale of these products is recognized at a point in time when
control of the product has been transferred at an amount that reflects the consideration to which the Company
expects to be entitled in exchange for those goods or services.

Due to the short nature of credit period given to customers, there is no financing component in the contract.

Any amounts receivable from the customer are recognised as revenue after the control over the goods sold are
transferred to the customer which is generally on dispatch of goods. Export sales are recognized on the
issuance of Bill of Lading.

(d) Variable consideration:

This includes incentives, volume rebates, discounts etc. It is estimated at contract inception considering the
terms of various schemes with customers and constrained until it is highly probable that a significant revenue
reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with
the variable consideration is subsequently resolved. It is reassessed at end of each reporting period.

(e) Schemes:

The Company operates several sales incentive scheme wherein the customers are eligible for several benefits
on achievement of underlying conditions as prescribed in the scheme. Revenue from contract with customer
is presented deducting cost of all these schemes.

(f) Significant financing components:

In respect of advances from its customers, using the practical expedient in Ind AS 115, the Company does not
adjust the promised amount of consideration for the effects of a significant financing component if it expects,
at contract inception, that the period between the transfer of the promised good or service to the customer and
when the customer pays for that good or service will be within normal operating cycle.

(g) Export incentives:

Export incentives under various schemes notified by the Government have been recognised on the basis of
applicable regulations, and when reasonable assurance to receive such revenue is established.

(h) Contract Balances:

Trade Receivables and Contract Assets

A receivable represents the Company's right to an amount of consideration that is unconditional (i.e., only the
passage of time is required before payment of the consideration is due ).

An entity's right to consideration in exchange for goods or services that the entity has transferred to a
customer when that right is conditioned on something other than the passage of time.

Contract liabilities

A contract liability is the obligation to transfer goods to a customer for which the Company has received
consideration (or an amount of consideration is due) from the customer. If a customer pays consideration
before the Company transfers goods or services to the customer, a contract liability is recognised when the
payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognised as revenue
when the Company performs under the contract.

Q. Other Income:

(a) Dividend income from investments is recognised when the shareholder's right to receive payment has
been established.

(b) Interest income is recognised using effective interest rate (EIR) method.

R. Employee Benefit Expenses:

(a) Short-term employee benefits

All employee benefits payable wholly within twelve months of rendering the service are classified as short¬
term employee benefits. Benefits such as salaries, wages, incentives, etc. are charged to the Statement of
Profit & Loss in the period in which the employee renders the related service. A liability is recognised for the
amount expected to be paid when there is a present legal or constructive obligation to pay this amount as a
result of past service provided by the employee and the obligation can be estimated reliably.

(b) Post-employment benefits:

The Company operates the following post employment schemes:

(i) Defined contribution plans such as provident fund; and
(ii) Defined benefit plans such as gratuity

(i) Defined contribution plan:

The eligible employees of the Company are entitled to receive benefits in respect of provident fund, for which
both the employees and the Company make monthly contributions at a specified percentage of the covered
employees' salary. The contributions as specified under the law are made to the Government Provident Fund
monthly.

The Company has no obligation, other than the contribution payable to the funds. The Company's
contributions to defined contribution plans are charged to the Statement of Profit & Loss as incurred.

(ii) Defined benefit plan

The Company has defined benefit plan for post-employment benefits, for all employees in the form of Gratuity
administered through trust funded with Life Insurance Corporation of India. The Company's liabilities under
Payment of Gratuity Act are determined on the basis of independent actuarial valuation.

The liability in respect of gratuity is calculated using the Projected Unit Credit Method and spread over the
period during which the benefit is expected to be derived from employees' services.

Re-measurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if
applicable) and the return on plan assets (excluding net interest), is reflected immediately in the Balance
Sheet with a charge or credit recognised in Other Comprehensive Income (OCI) in the period in which they
occur. Remeasurement recognised in OCI is reflected immediately in retained earnings and will not be
reclassified to Statement of Profit and Loss. Past service cost is recognised in the Statement of Profit and
Loss in the period of a plan amendment. Interest is calculated by applying the discount rate at the beginning of
the period to the net defined benefit liability or asset and is recognised in the Statement of Profit and Loss.

The present value of the defined benefit plan liability is calculated using a discount rate which is determined
by reference to market yields at the end of the reporting period on government bonds.

The defined benefit obligation recognised in the Balance Sheet represents the actual deficit or surplus in the
Company's defined benefit plan. Any surplus resulting from this calculation is limited to the present value of
any economic benefits available in the form of refunds from the plans or reductions in future contributions to
the plans.

S. Foreign Currency Transactions:

Foreign currency transactions are initially recorded at the rates prevailing on the date of the transaction. At the
balance sheet date, foreign currency monetary items are reported using the closing rate. Exchange gains and
losses arising on settlement and restatement are recognized in the Statement of Profit and Loss. Non¬
monetary items which are carried at historical cost denominated in foreign currency are reported using the
exchange rate at the date of the transaction.

T. Segment Reporting:

An operating segment is a component of the Company that engages in business activities from which it may
earn revenues and incur expenses, whose operating results are regularly reviewed by the company's Chief
Operating Decision Maker ("CODM") to make decisions for which discrete financial information is available.

In accordance with Ind AS 108, Operating Segment, the Managing Director is the Company's chief operating
decision maker ("CODM"). The CODM evaluates the Company's performance and allocates resources based

on an analysis of various performance indicators by business segments and geographic segments.

U. Earnings Per Share:

The Basic Earnings Per Share ("EPS") is computed by dividing the net profit / (loss) after tax for the year
attributable to the equity shareholders by the weighted average number of equity shares outstanding during
the year.

For the purpose of calculating diluted earnings per share, net profit/loss after tax for the year attributable to
the equity shareholders is divided by the weighted average number of equity shares outstanding during the
year adjusted for the effects of all dilutive equity shares.

V. Statement of Cash flows:

Cash flows are reported using the indirect method, whereby the net 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.

W. Cash and Cash Equivalents:

Cash and Cash Equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits
that are readily convertible into cash which are subject to insignificant risk of changes in value and are held for
the purpose of meeting short- term cash commitments.

X. Dividend:

Final dividend on shares are recorded as a liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by the Company's Board of Directors.

Note 32: Contingent Liabilities (Ind AS 37)

A. Claims against the Company not acknowledged as debt : Nil

The Company does not have any pending litigations and proceedings as at March 31,2025 (March 31,2024 - 'Nil)

B. Guarantees:

The company has issued corporate guarantees as under:

Guarantee of 'Nil/- (March 31,2024 - 'Nil)

Note 33: Capital and other commitments

Estimated amount of Contracts remaining to be executed on capital account, not provided for are (net of advances of
' 96.17 lakhs) '140.90 lakhs (March 31,2024 '22.15 lakhs)(net of advances of ' 14.35 lakhs)

Note 34: Employee Benefits (Ind AS 19)

A. Defined Benefit Plans:

Gratuity:

The gratuity payable to employees is based on the employee's service and last drawn salary at the time of leaving the
services of the Company and is in accordance with the rules of the Company for payment of gratuity. The Company's
defined benefit plan is funded with Life Insurance Corporation (LIC). The fund is managed by a trust which is governed by
the Board of Trustees. The Board of Trustees are responsible for the administration of the plan assets and for the definition
of the investment strategy. There are no other post retirement benefits provided by the Company.

The present value of the defined benefit obligation, the related current service cost and past service cost, were measured
using the projected unit credit method.

Inherent Risk :

The plan is defined in nature which is sponsored by the Company and hence it underwrites all the risks pertaining to the
plan. In particular, this exposes the Company to actuarial risk such as adverse salary growth, change in demographic
experience, inadequate return on underlying plan assets. This may result in an increase in cost of providing these benefits
to the employees in future. Since the benefits are lump sum in nature, the plan is not subject to any longevity risk.

*The Sensitivity Analysis have been calculated to show the movement in defined benefit obligation in isolation and assuming there are no other
changes in market conditions at the accounting date. There have been no changes from the previous periods in the methods and assumptions
used in preparing the sensitivity analysis.

Discount rate:

The Discount rate is based on the prevailing market rates of Indian government securities for the estimated term of obligation.
Salary Escalation Rate:

The estimates of future salary are considered taking into account inflation, seniority, promotion and other relevant factors.
Funding arrangements and Funding Policy

The Company has purchased an insurance policy to provide for payment of gratuity to the employees. Every year, the insurance
company carries out a funding valuation based on the latest employee data provided by the Company. Any deficit in the assets
arising as a result of such valuation is funded by the Company.

Risk Exposure and Asset Liability Matching

Through its defined benefit plan of Gratuity, the Company is exposed to its number of risks, viz. asset volatility, changes in return
on assets, inflation risks and life expectancy. The Company has purchased insurance policy, which is a year-on-year cash
accumulation plan in which the interest rate is declared on yearly basis and is guaranteed for a period of one year. The Insurance
Company, as part of the policy rules, makes payment of all gratuity outgoes happening during the year (subject to sufficiency of
funds under the policy). The policy, thus, mitigates the liquidity risk.

The Company's expected contribution during next year is '23.64 lakhs (March 31,2024 '2.75 lakhs)

B. Defined Contribution Plans:

Amount recognised as an expense and included in Note No. 28 under the head "Contribution to Provident and other Funds"
of Statement of Profit and Loss is '62.95 lakhs (March 31,2024 '59.47 lakhs).

Note 35: Segment Reporting (Ind AS 108):

The Company has presented segment information in the consolidated financial statements. Accordingly, as per Ind AS 108
'Operating Segments', no disclosures related to segments are presented in these standalone financial statements
(Refer Note 35 of Consolidated Financial Statement)

The remuneration paid to key managerial personnel excludes gratuity as the provision is computed for the Company as a whole
and separate figures are not available.

Based on the recommendation of the Nomination and Remuneration Committee, all decisions relating to the remuneration of
the Directors are taken by the Board of Directors of the Company, in accordance with shareholder's approval, wherever
necessary.

Terms and Conditions of transactions with Related Parties:

The transactions with the related parties are made in the normal course of business and on the terms equivalent to those that
prevails in arm's length transactions. Outstanding balances at the year-end are unsecured.

For the year ended March 31,2025, the Company has not recorded any impairment of receivables relating to amounts owned by
related parties. This assessment is undertaken each financial year through examining the financial position of the related party
and the market in which the related parties operates.

Investment in Subsidiary and Joint ventures amounting to '423.05 lakhs (March 31,2024 '422.05 lakhs) are measured at Cost
in accordance with Ind AS 27.

For Financial Assets and Financial liabilities measured at amortised cost, carrying amount is reasonable approximation of fair
vale.

Note 41: Financial Risk Management Objectives and Policies (Ind AS 107):

The Company's principal financial liabilities comprise of borrowings, trade and other payables. The main purpose of these
financial liabilities is to finance and support the Company's operations. The Company's principal financial assets include
Investments, Loans and Other receivables, Cash and Cash Equivalents and Other Bank Balances that directly derive from its
operations.

The Company is exposed to Market Risk, Credit Risk and Liquidity Risk. The Company's senior management oversees the
management of these risks. The Company's senior management ensures that the Company's financial risk activities are
governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance
with the Company's policies and risk objectives.

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
borrowings.

(a) Foreign Currency Risk

Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency, which
fluctuate due to changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates
relates primarily to the foreign currency borrowings, receivable against exports of finished goods, loan to foreign subsidiary,
interest receivable on loan to subsidiary and the Company's net investments in foreign subsidiaries.

Note: If the rate is decreased by 100 bps Profit will increase by an equal amount.

Interest rate sensitivity has been calculated assuming the borrowings outstanding at the reporting date have been outstanding
for the entire reporting period

B. 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), and from its
investing and financing activities including Deposits with Bank, Security Deposits, Loans to Employees and other financial
instruments.

(a) Trade Receivables:

Trade receivables are consisting of a large number of customers. The Company has credit evaluation policy for each customer
and based on the evaluation credit limit of each customer is defined.

Gross Trade receivable as on March 31, 2025 '3,191.09 lakhs (March 31, 2024 '2,398.33 lakhs) The Company does not have
higher concentration of credit risks to a single customer.

As per simplified approach, the Company makes provision of expected credit losses on trade receivables using a provision
matrix to mitigate the risk of default payments and makes appropriate provision at each reporting date wherever outstanding is
for longer period and involves higher risk.

As per policy, Receivables are classified into different buckets based on the overdue period ranging from 3 months to more than
3 years. There are different provisioning rates for government receivables and other receivables, each category having provision
ranging from 2% to 100%. (Refer Note No.8)

(b) Cash and Cash Equivalent and Bank Deposit:

Credit Risk on cash and cash equivalent, deposits with the banks/financial institutions is generally low as the said deposits
have been made with the banks/financial institutions who have been assigned high credit rating by international and domestic
rating agencies. Investments of surplus funds are made only based on Investment Policy of the Company.

C. Liquidity Risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable
price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of
funding through an adequate amount of credit facilities to meet obligations when due. Senior management of the Company is
responsible for liquidity, funding as well as settlement management. Management monitors the Company's liquidity position
through rolling forecasts on the basis of expected cash flows.

The table below provides details regarding the remaining contractual maturities of financial liabilities and investments at the
reporting date based on contractual undiscounted payments

Note 43: Capital Management (Ind AS 1):

For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and all other equity
reserves attributable to the equity shareholders. The primary objective is to maximise the shareholders value, safeguard business
continuity and support the growth of the Company. The Company determines the capital requirement based on annual operating plans
and long-term and other strategic investment plans. The funding requirements are met through equity and operating cash flows
generated.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements
of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders,
return capital to shareholders or issue new shares

The Company monitors capital using debt-equity ratio, which is total debt divided by total equity

(i) As on March 31, 2025 there is no untilised amounts in respect of any issue of securities and long term borrowings from
banks and financial institutions. The borrowed funds have been utilised for the specific purpose for which the funds were
raised.

(ii) The Company do not have any transactions with struck off companies.

(iii) The Company do not have any charges or satisfaction, which is yet to be registered with Registrar of Companies beyond
the statutory period.

(iv) The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act,
2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

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

(vi) The Company have not traded or invested in Crypto currency or Virtual Currency.

(vii) The Company have 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

(viii) The Company have 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

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

(x) The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

Note 53: Events after the reporting period:

No adjusting or significant non - adjusting events have occurred between the reporting date March 31, 2025 and the report
release date May 27, 2025.

Note 54:

The Board of Directors at its meeting held on November 12, 2024 have approved the Scheme of Arrangement ("Scheme")
amongst the Company ("Prima Plastics Limited" / "PPL" / "Company" / "Demerged Company") and Prima Innovation Limited
("PIL / Resulting Company") (a wholly owned subsidiary of PPL, which was incorporated on June 20, 2024) and their respective
shareholders and creditors, providing for the demerger of the Company's Rotational Moulding Business (as defined in the
Scheme) to PIL in compliance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

The Company has received no adverse observations on the Scheme of Arrangement from BSE Limited dated March 28, 2025 and
the application of same has been filled with the NCLT on April 29, 2025. This has no impact on the financial year ended March 31,
2025.

Previous year's figures have been regrouped and rearranged where necessary to conform to this year's classification. The
Company has Loan to Employees. These loans were previously disclosed as Other Current Financial Assets presentation in the
balance sheet. However, based on actual facts and review during the year, the management has considered '6.00 Lakhs as
Other Non-Current Financial Assets. Accordingly, prior year comparatives as at March 31, 2024 have been restated. The
management believes that the reclassification does not have any material impact on information presented in the balance
sheet.

As per our Report of even date attached

For C N K & Associates LLP For and on behalf of the Board of

Chartered Accountants Prima Plastics Limited

Firm Registration No. : 101961W/W-100036

Vijay Mehta Bhaskar M. Parekh Dilip M. Parekh Dharmesh R. Sachade Prachi M. Mankame

Partner Executive Chairman Managing Director Chief Financial Officer Company Secretary

M.No. 106533 DIN : 00166520 DIN : 00166385 M. No. 139349 M.No.ACS: A67042

Mumbai Mumbai

May 27, 2025 May 27, 2025