XI Contingent liabilities and provisions

Contingent liabilities are disclosed after evaluation of the facts and legal aspects of the matter involved, in line with the provisions of Ind AS 37.

The company records a liability for any claims where a potential loss probable and capable of being estimated and discloses such matters in its financial
statements, if material. For potential losses that are considered possible, but not probable, the Company provides disclosures in the financial statements but
does not record a liability in its financial statements unless the loss becomes probable.

Provisions are recognised when the Company has a legal / constructive obligation as a result of a past event, for which it is probable that a cash outflow may
be required and a reliable estimate can be made of the amount of the obligation.

When a provision is measured using the cash flows estimated to settle the present obligation, its canying amount is the present value of those cash flows
(when the effect of the time value of money is material).

XII Revenue recognition

Revenue from contracts with customers is recognised when control of the promised goods or services are transferred to the customer at an amount that reflects the
consideration to which the Company expects to be entitled in exchange forthose goods or services.

Sale of goods : - Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, which generally coincides
when the products are dispatched / shipped, recovery of the consideration is probable, the associated costs can be estimated reliably, there is no continuing
management involvement with the goods nor it exercises effective control over the goods and the amount of revenue can be measured reliably. Revenue is
measured at the fair value of the consideration received or receivable, net of returns and allowances, trade discounts, cash discounts and volume rebates.
Sales includes excise duty but excludes sales tax / value added tax/goods and service tax.

Income from services Revenue from sale of services are recognised when services are rendered and related costs are incurred.

Other income : - Interest income from a financial asset is recognised when it is probable that the economic benefit will flow to the Company and the amount
of income can be measured reliably, interest income is accrued on a time basis, by reference to the principal outstanding and at the effective rate applicable,
which is the rate that discounts estimated future cash receipts through the expected life of the financial assets to that asset's net canying amount on initial
recognition. Rent income is recognised when it is probable that the economic benefit will flow to the Company and the amount of income can be measured
reliably. Rent income is accrued as per terms of contracts.

XIII Employee Benefits

The Company has various schemes of employee benefits such as provident fund, employee state insurance scheme, gratuity and Compensated Absences,
which are dealt with as under:

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in
which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the
amounts expected to be paid when the liabilities are settled.

(ii) Post-employment obligations

The Company operates the following post-employment schemes:

(a) defined benefit plans such as gratuity; and

(b) defined contribution plans such as provident fund and Family pension funds.

Gratuity obligations

The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined benefit obligation at the end
of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by actuaries using the projected unit credit
method.

Defined Contribution Plans

Defined Contribution Plans such as Provident Fund etc., are charged to the Statement of Profit and Loss as incurred.

Liability on account of short term employee benefits, comprising largely of compensated absences and bonus, is recognised on an undiscounted accrual basis
during the period when the employee renders service.

XIV Foreign Currency Transactions

(i) Functional and presentation currency

The financial statements are presented in Indian rupee (INR), which is Company’s functional and presentation currency.

(ii) Transactions and balances

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains and losses on settlement of foreign
currency transactions are recognised in the Statement of Profit and Loss.

Monetary foreign currency assets and liabilities at the year-end are translated at the year-end exchange rates and the resultant exchange differences are
recognised in the Statement of Profit and Loss.

XV Income taxes

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate adjusted by
changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

Deferred income tax is provided in full, using the liability method on temporary differences arising between the tax bases of assets and liabilities and their
carrying amount in the financial statement. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by
the end of the reporting period and are excepted to apply when the related deferred income tax assets is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses, only if, it is probable that future taxable amounts will be
available to utilise those temporary differences and losses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax
balances relate to the same taxation authority. Current tax assets and tax liabilities are off set where the Company has a legally forcible right to offset and
intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

Current and deferred tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to items recognised in other comprehensive
income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

Minimum Alternate Tax credit is recognised as deferred tax asset only when and to the extent there is convincing evidence that the Company will pay normal
income tax during the specified period. Such asset is reviewed at each Balance Sheet date and the carrying amount of the MAT credit asset is written down to
the extent there is no longer a convincing evidence to the effect that the Company will pay normal income tax during the specified period.

XVI Earnings Per Share
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 financial year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares.

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.

XVII Operating Cycle

Based on the nature of products / activities of the Company and the normal time between acquisition of assets and their realisation in cash or cash
equivalents, the Company determined its operating cycle as 12 months for the purpose of classification of its assets and liabilities as current and non-current.

XVIII Government Grants

Grants from the government are recognised at their fair value where there is reasonable assurance that the grant will be received and the Company will comply
with all attached conditions.

Government grants relating to the purchase of property, plant and equipment are included in non-current liabilities as deferred income and are credited to
Profit and Loss on a straight - line basis over the expected lives of related assets and presented within other income.

XIX Statement of cash flows

Cash flows are reported using the method as prescribed in Ind AS 7 'Statement of Cash flows', where by 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 expense associated
with in vesting or financial cash flows. The cash flows from operating, in vesting and financing activities of the Company are segregated.

XX Investments

Investments, if any, are to be valued at fair value.

(a) Rights, Preferences and restrictions attached to Equity Shares

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. All equity shareholders rank equally with regard to dividends and share in the company's residual
assets.The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing
AGM

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the
company, after distribution of all preffential amounts. The distribution will be in proportion to the number of equity shares
held by the shareholder.

Note 32 FINANCIAL RISK MANAGEMENT

The Company's activities expose it to a variety of financial risks i.e. Market Risk, Liquidity Risk and Credit Risk.

The Company's board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework.

A. Market risk

• Foreign Currency Risk:

There are no currency rate risk on the Company since all the transactions are done in the functional currency (INR) and the Company has not
taken any loans or borrowings from the market in foreign currency.

• Interest Rate Risk:

The exposure of the Company's borrowing to interest rate charges at the end of the reporting period is on the amount of outstanding balance of
cash credit facilities from Indian Overseas Bank/ Bank of Baroda. The interest rates are linked to 1 year MCLR and are changed at the time of
annual renewal. The rates will either increase or decrease depending on changes in RBI's and Bank's policies.

• Price Risk:

The Company faces price risk due to change in price of Raw Materials from time to time. To shield itself from them, all sales contracts and orders
are variable to changes in prices from time to time. They are based on the price of raw materials at the beginning of each month or weighted
average price of last 3 months.

B. Liquidity Risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding to meet
obligations when due. Management monitors rolling forecasts of the company's liquidity position and cash and cash equivalents on the basis of
expected cash flows. The Company's objective is to at all times maintain optimum levels of liquidity to meet its cash requirements.

C. Credit risk

• Credit risk is the risk of financial loss to the Company if a customer fails to meet its contractual obligations, and arises principally from the
Company's receivables from customers. The canying amounts of financial assets represent the maximum credit risk exposure.

• Assets are written off when there is no reasonable expectation of recovery. The Company write offs debtors when they fail to make contractual
payment greater than a reasonable limit post due.

• The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit
risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company
compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It
considers available reasonable and supportive forwarding-looking information.

Trade and Other Receivables

Credit risk refers to the risk of default on its obligation by the counter party resulting in financial loss. The maximum exposure to the credit risk
at the reporting date is primarily from trade receivables amounting to Rs. 536.69 Lakhs and Rs. 403.12 Lakhs as at March 31, 2023, and March
31, 2022 respectively. The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
management also considers the factors that may influence the credit risk of its customer base, including the default risk of the industry. The
Company monitors its exposure to credit risk on an ongoing basis at various levels. Outstanding customer receivables are regularly monitored.

Due to the geographical spread and the diversity of the Company's customers, the Company is not subject to any significant concentration of
credit risks at balance sheet date.

Cash and Cash Equivalents and Bank Deposits

Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated banks and diversifying bank
deposits accounts in different banks across the country.

Cash Credit Facilities

Cash credits facilities from Bank of Baroda, Park Street Branch, Jaipur together with interest and other charges thereon, is secured by mortgage
of company's land and building together with plant and machinery thereon both present and future and by way of a hypo theca tion charge over
all movable assets including book debts, stock etc. of the company and secured by personal guarantee of three directors of the company. Cash
credit is payable on demand and carries interest rate@ 10.25% p.a. on monthly rest.

(i) Fair Value of Financial Assets and Liabilities

• The cariying amounts of trade receivables, trade payables, capital creditors, cash and cash equivalents, other bank

balances, other financial assets, short term borrowings and other financial liabilities are considered to be the same as
their fair values, due to their short-term nature.

. Majorly the security deposits are reedemable on demand and hence the fair values of security deposits are
approximately equivalent to the carrying amount.

There is no material difference between carrying amount and fair value of non-current borrowings as on March 31,
2024 and March 31, 2023.

(ii) Fair Value Hierarchy

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity
instruments, traded debentures and mutual funds that have quoted price. The fair value of all equity instruments
(including debentures) which are traded in the stock exchanges is valued using the closing price as at the reporting
period. The mutual funds are valued using the closing NAV.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific
estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in
level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3.

There are no transfers between levels 1 and 2 during the year.

The Company's policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the
reporting period.

Note 34 CAPITAL RISK MANAGEMENT
Objective

The primary objective of the Company’s capital management is to maximize the
shareholder value, i.e. to provide maximum returns to the shareholders. The
Company’s primary objective when managing capital is to ensure that it maintains an
efficient capital structure and healthy capital ratios and safeguard the Company’s
ability to continue as a going concern in order to support its business and provide
maximum returns to the shareholders. The Company also proposes to maintain an
optimal capital structure to reduce the cost of capital. No changes were made in the
objectives, policies or processes during the year ended March 31, 2024 and March 1,
2023.

Policy

The Company manages its capital structure and makes adjustments in light of
changes in economic conditions and the rules and regulations framed by the
Government under whose control the Company operates.

Process

The Company manage its capital by maintaining sound/optimal capital structure
financial ratios, such as net debt-to-equity ratio on a monthly basis and implements
capital structure improvement plan when necessary. Debt-to-equity ratio as of March
31, 2024, and March 31, 2023 is as follows:

Cash credits facilities from Bank of Baroda, Park Street Branch, Jaipur together with interest
and other charges thereon, is secured by mortgage of company's land and building together
with plant and machinery thereon both present and future and by way of a hypothecation
charge over all movable assets including book debts, stock etc. of the company and secured
by personal guarantee of three directors of the company. Cash credit is payable on demand
and carries interest rate @ 10.05% p.a. on monthly rest (it was 10.05% as on 31-03-2023).

Disclosure required under Section 22 of the Micro, Small and Medium Enterprises

Note 36 Development Act, 2006

The Ministry of Micro, Small and Medium Enterprise has issued an office memorandum dated
26.08.2008, which recommends that Micro and Small Enterprises should mention in their
correspondence with its customers, the entrepreneur's memorandum number as allocated
after filing of memorandum. Accordingly, the disclosure in respect of the amounts payable to
such enterprises as on 31.03.2024 and 31.03.2023 has been made in the financial
statements based on the information provided by the management. Based on the
information currently available with the company, there are no dues payable to Micro and
Small Suppliers as defined in the Micro, Small and Medium Enterprise Development Act,

2006

Note 37 Previous year's figure have been regrouped/ reclassified / rounded off wherever necessary to
correspond with the current year's classification/ disclosure.

a. Details of Benami property: No proceedings have been initiated or are pending against the
Group for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and the rules made thereunder.

b. Balances of sundry Debtors, Sundry Creditors and Loans and Advances are subject to
confirmation and reconciliation by the parties and adjustment, if any ,required on
reconciliation will be done in the year in which the same is reconciled. Further, management
does not expect any material difference in the Financial statements for the year.

c. i) Company has not advanced or loan or invested funds ( either borrowed funds or share
premium or any other source or kind of funds) to any other persons or entity (ies), including
foreign entities (intermediaries) with the understanding that the intermediary shall 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 provided any guarantee, security
or the like to or on behalf of the ultimate Beneficiaries.

ii) Company has not received any fund from any person(s) or entity (ies), including foreign
entities (Funding Part) with the understanding that the company shall 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 provided any guarantee, security or the
like to or on behalf of the Ultimate beneficiaries.

e. Company as well as its Directors does not appearin the RBI list of defaulters/ RBI list of
willful defaulters during the current year.

f. The Company does not have any un-recorded or un-disclosed income during the
year, in which assessments of tax has been conducted under the Income Tax Act,
1961

g. Company has not traded or invested in Crypto currency or Virtual Currency during
the financial year under review as such no other disclosure with regard to crypto
currency is required to be given.

h. The provisions of section 135 of Companies Act 2013, "Corporate Social Responsibility"
are not applicable on Company.

i. In the opinion of the management, Company has not undertaken any transactions
with companies struck off under section 248 of the Companies Act, 2013 or section
560 of Companies Act, 1956.

j. CONTINGENT LIABILITIES:

In the opinion of the Board there are no other contingent liabilities & Commitments
during the year in terms of:-

a. Estimated amount of contracts remaining to be executed on capital account
and not provided for.

b. Uncalled liability on shares and other investments partly paid.

c. Or any other commitments.

Therefore, no provision for any contingent liability has been provided.

k. In the opinion of the directors, current assets have a value on realisation in the
ordinary course of business at least equal to the at where they are stated in books
and all known liabilities have been provided in the accounts.

l. Company does not have any subsidiary company hence provisions prescribed in
clause (87) of section 2 of Companies Act 2013, read with Companies (Restriction on
number of Layers) Rules 2017, are not applicable to company.

m. The company have no charges pending with Registrar of Companies either for
registration or for satisfaction towards any guarantee given /Credit facilities enjoyed
by company/others.

n. Utilization of Borrowings Availed from Banks and Financial Institutions:

The borrowings obtained by the Company have been utilised for the purpose for
which the same was obtained.

o. No scheme of arrangement has been approved by the Competent Authority in
terms of Sections 230 to 237 of the Companies Act, 2013, hence, this is not applicable.

p. Based on the nature of products/ activities of the Company and the normal time between
acquisition of assets and their realization in cash or cash equivalents, the Company has
determined its operating cycle as 12 months for the purpose of classification of the assets
and liabilities as current and non-current.

q. The other additional disclosures and information (not specifically disclosed) as required by
Schedule III are either Nil or Not Applicable.

r. Loans or advances to specified persons:The Group has not granted any loans or advances in
the nature ofloans to promoters, directors, KMPs or the related parties (as defined under
Companies Act, 2013,) either severally or jointly with any other person

s. Valuation of Property, Plant and Equipment and Intangible Assets: As the Group has chosen
cost model for its Property, Plant and Equipment (Including Right-of-Use assets) and
Intangible Assets, the question of revaluation does not arise.

Note 40 Note No 1 to 39 form integral part of the accounts and are duly aunthencated
In terms of our report attached.

For Tambi Ashok & Associates For and on behalf of the Board of Directors

Chartered Accountants
Firm Regn. No.: 005301C

CA Ashok Kumar Tambi Bharat Kumar Baid Vikram Baid Shikha Natani
Partner Managing Director Executive Company

Dircetor and Secretary &
CFO Compliance

Officer

Membership No.: 074100 DIN: 00212506 „ Membership

DIN: 00217347 ^v

No.:45901

Place : Jaipur
Date : 30.05.2024

UDIN No.: 24074100BKGFHL3850