2.15 Provisions, Contingent Liabilities, Contingent Assets and Commitments

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. Contingent liability is disclosed in the case of:

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;

A present obligation arising from the past events, when no reliable estimate is possible; A possible obligation arising from the past events, unless the probability of outflow of resources is remote.

Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.

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

2.16 Cash flow statement

Cash flow are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals of 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 finance activities of the Company are segregated.

2.17 Lease

The Company's lease asset classes primarily consist of leases for land and building. The Company assesses whether a contract contains a lease at the inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset. At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a corresponding lease liability, as per IND AS 116 "Leases", for all lease arrangements, in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease.

2.18 Earnings per share

Basic earnings per share are 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.

2.19 Foreign currency translation

I) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which the Company operates (" the functional currency") i.e. In Indian Rupees (INR) and all values are rounded of to nearest lakhs except otherwise indicated. ii) Transactions and balances

Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

a) Foreign currency monetary assets and liabilities such as cash, receivables, payables etc., are translated at year end exchange rates.

b) Non-monetary items denominated in foreign currency such as investments, fixed assets, etc. are valued at the exchange rate prevailing on the date of transaction.

c) Exchange differences arising on settlement of transactions and translation of monetary items are recognised as income or expense in the year in which they arise. However, exchange gain or loss on settlement of transactions related to fixed assets are capitalised to the respective assets.

2.20 Borrowing cost:

General and specific borrowing costs that are directly attibutable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its i ntended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred.

a) Rights, preferences and restrictions attached to shares

Equity shares

The Company has one class of equity shares having a par value of ' Rs 10/- each. Each shareholder is entitled to such rights as to attend and vote at the meeting of the shareholders, to receive dividends distributed and also has right in the residual interest of the assets of the Company. Every shareholder is also entitled to right of inspection of documents as provided in the Companies Act, 2013. There are no restrictions attached to equity shares. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting, except incase of interim dividend.

II Financial Risk Management

The board of directors (BOD) has overall responsibility for the establishment and oversight of the Company's risk management framework and thus established a risk management policy to identify and analyse the risk faced by company. Risk management systems are reviewed by BOD periodically to reflect changes in market conditions and the Company's activities. The company through its training and management standards and procedures develop a disciplined and constructive controlled environment. The Audit committee oversees how management monitors compliance with the Company's risk management policies and procedures, and reviews the risk management framework.

a) CREDIT RISK

The risk of financial loss to the company if the customer or counter party to the financial instruments fails to meet its contractual obligations and arises principality from the company's receivables, treasury operations and other operations that are in the nature of lease.

1a) Receivables

The company‘s exposure to credit is influenced mainly by the individual characteristic of each customer. The company extended credit to its customers in normal course of business by considering the factors such as financial reliability of customers. The company evaluates the concentration of the risk with the respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

1b) Financial instruments and cash deposits.

Investments are made only with the approved counter parties. The company places its cash Equivalents based on the creditworthiness of the financial institutions.

b) Liquidity risk

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the Company's short, medium and long term funding and liquidity management requirements.

b) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of an exposure 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 debt obligations with floating interest rates. Anu changes in the interest rates environment may impact future cost of borrowings. The Company monitors the movements in interest rates and wherever possible, reacts to material movements in such interest rates by restructuring its financing arrangements.

For the year ended March 31,2024 and March 31,2023, every 1% increase/decrease of the floating rate of interest would impact profit before tax by Rs (18.99) lakhs/ Rs.18.99 lakhs and Rs.(17.15) lakhs/ Rs.17.15 lakhs respectively.

III CAPITAL MANAGEMENT

For the purpose of company's capital management, capital includes issued equity share capital and all other equity reserves attributable to the equity holders of the company. The primary objective of the company's capital management is to maximize the shareholders wealth. The company manages its capital structure and makes adjustments in the light of changes in economic conditions and the requirements of the financial covenants.

34 SEGMENT INFORMATION

Operating Segments

The Company operates in one reportable business segment namely ‘Injection Moulded Plastic Products' as per Ind AS 108 on ‘Operating Segments'.

Geographical Information:

The Company operates only in India.

Information about major customers:

During the years ended 31 March 2024 and 31 March 2023, revenues from transactions with a single customer amounting to 10% or more of the Company's revenues from customers includes 3 customers amounting to ? 22,176.17 lakhs and ? 16,487.24 lakhs respectively.

41 Additional Regulatory Disclosures as per Schedule III of Companies Act, 2013:

a) The Title deeds of 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.

b) The Company does not have any investment property.

c) As per the Company's accounting policy, Property, Plant and Equipment (including Right of Use Assets) and intangible assetsare carried at historical cost (less accumulated depreciation & impairment, if any), hence the revaluation related disclosuresrequired as per Additional Regulatotory Information of Schedule III (revised) to the Companies Act, is not applicable.

d) The Company has not granted Loans or Advances in the nature of loan to any promoters, Directors, KMPs and the related parties (As per Companies Act, 2013), which are repayable on demand or without specifying any terms or period or repayments.

e) No Proceedings have been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

f) The Company has been sanctioned facilities from banks on the basis of security of current assets and immovable properties. The periodic returns filed by the Company with such banks are in agreement with the books of accounts of the Company.

g) The Company has adhered to debt repayment and interest service obligations on time. Wilful defaulter related disclosures required as per Additional Regulatory Information of Schedule III (revised) to the Companies Act, is not applicable.

h) There are no transactions with the Companies whose name are struck off under section 248 of The Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year ended 31st March 2024.

i) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have been filed. No registration or satisfaction is pending at the year ended 31st March 2024.

j) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

k) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act, 2013.

l) 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:

i) 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

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiary)

m) 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:

i) 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

ii) provide any guarantee, security or the like on behalf of the Ultimate beneficiaries.

n) The Company has not operated in any crypto currency or Virtual Currency transactions.

o) During the year the Company has not disclosed or surrendered, any income other than the income recognised in the books of accounts in the tax assessments under Income Tax Act, 1961.

p) In the opinion of the Board Assets other than Property, Plant and Equipment, Intangible Assets and non current investments does not have realisable value which is more than the carrying amount of the respective assets in ordinary course of business.

q) the Company has utilised the borrowings from banks and financial institutions for the specific purpose for which they were availed.

42 Previous year’s figures have been re-grouped/re-arranged wherever found necessary.

For C A Patel & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No : 014055S

RAJESH MODI Arihant Parakh Sudershan Parakh

Partner Managing Director Director

Membership No : 027425 DIN : 07933966 DIN : 01161124

UDIN No. : 24027425BKGUZT3486

Place : Chennai S. Abishek Manikandan Ramasamy

Date : 15th May, 2024 Company Secretary Chief Financial Officer