Section 115BAA in the income tax Act, 1961 provides an option to the Company for paying income tax at reduced rates as per the provisions or conditions defined in the said section. The Company has opted new regime to provide and consider the payment of income tax and calculation of deferred tax assets and liabilities are measured at the rates at which such tax assets or liabilities are expected to be realised or settled.

i. Trade receivable exceeding six months includes Rs. Nil as at 31st March 2024 (Previous Year As At 31st March 2023 Rs. Nil) due from related parties

ii. Trade receivable Less than six months includes Rs. 36450.90 thousand as at 31st March 2024 (Previous Year As At 31st March 2023 Rs. 22700.47 thousand) due from related parties

iii. The company has called for balance confirmation of trade receivables on random basis. Out of which the company has received response from some of the parties, which are subject to reconciliation with Company's account. The other balance of trade receivable are subject to confirmation.

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each Shareholder of equity shares is entitled to one vote per share. The voting rights of an equity shareholder on show of hand or through proxy shall be in proportion to his share of the paid up capital of the Company. Any dividend proposed by Board of Directors is subject to the approval of the shareholders in ensuing AGM.

In the event of liquidation of the company, the holders of equity shares will be receiving any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company does not have any holding or subsidiary company and hence there is no question of any shares of the company being held by its holding company, ultimate holding company and their subsidiaries/associates.

During the year ended March 31, 2024, The Company has increased its authorised share capital of Rs. 1000.00 lacs to 2500.00 lacs vide board resolution dated 28th August, 2023, which has been passed pursuant to special resolution by shareholders in annual general meeting (AGM).

(e) Equity Shares issued as bonus (during five years immediately preceding March 31, 2024)

The Company allotted 4066448 equity shares as fully paid up bonus shares by capitalisation of profits transferred from retained earnings and security premium account amounting to 330.07 lacs and 76.57 lacs respectively to its existing shareholders in the ratio of 4: 1 on June 25, 2022 pursuant to resolution passed by shareholders of the Company.

The Company allotted 6958060 equity shares as fully paid up bonus shares by capitalisation of profits transferred from security premium account amounting to 695.81 lacs to its existing shareholders in the ratio of 1:1 on September 14, 2023 pursuant to resolution passed by shareholders of the Company.

The Company has not revalued its assets since inception and has not issued any Equity Shares (including bonus shares) by capitalizing any revaluation reserves.

a. Secured term loans from State Bank of India are repayable in 22 to 46 monthly instalment. Long term loans from SBI of Rs. 735.00 Lakh matured on 15/11/2026.

b. Secured term loans from Bank of Baroda are repayable in 84 monthly instalment from the date of disbursement.

1. Balances of Creditors are subject to confirmation and reconciliation, if any and they are stated in the Balance Sheet if realised in the ordinary course of business. The Provisions for all the known liabilities is adequate and not in excess of the amount realisably necessary.

3. Trade Payable includes amount due to related parties Rs. Nil as at March 31, 2024 (Previous year as March 31, 2023 Rs. Nil).

a. Loan from Bank is secured by hypothecation of entire stock of raw materials, stock-in-process, finished goods, stores & Spares, packing materials, book debt & receivable, entire machineries, equipments, electrical installations, furniture & fixtures, office equipments, and other movable fixed assets of the company except vehicles, plant and machinery financed by NBFCs.

b. Working capital loan from State Bank of India and ICICI Bank is secured by collateral security as per note no. 16

c. Secured term loans from State Bank of India are repayable in 22 monthly instalment. Long term loans from SBI of Rs. Rs. 26.00 lakh matured on 25/10/2024 which is within 12 months.

• Creditor for expenses include Rs. Nil and 78.74 thousand for reimbursement outstanding to directors for the year 2023-24 & 2022-23 respectively. Details are shown in note no. 34

• Provision for employee benefits include remuneration payable to directors for the year 2023-24 is Rs. 88.35 thousand & Rs. 451.85 thousand for the year 2022-23. Details are shown in note no. 34

Section 115BAA in the income tax Act, 1961 provides an option to the Company for paying income tax at reduced rates as per the provisions or conditions defined in the said section. The Company has opted new regime to provide and consider the payment of income tax @ 25.17 %.

a. A defined contribution plan is a post-employment benefit plan other than a defined contribution plan. The Company has form separate trust to manage the gratuity fund and is legally separate from the Company. At present the administration of the gratuity scheme has been entrusted to the Life Insurance Corporation of India ('LIC'). The Company's net obligation in respect of

gratuity is calculated separately by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets and deposited in qualified insurance policy. The contribution toward the gratuity is done as per the provisions of Gratuity Act, 1972.

b. The eligible employees are entitled to post - retirement benefit at the rate of 15 days salary (monthly salary is calculated for 26 days) for each completed year of service until the retirement age of 58 years, (a) On termination of employment due to superannuation or early retirement or resignation : with vesting period of 5 years of service. (ii) On death or permanent disablement in service: without any vesting period.

c. The principal assumptions used for the purpose of calculation of amount payable to qualified insurance policy approved under gratuity & other data are as under :

Other Interest included Rs. Nil paid to relative parties during the financial year 2023-24 and Rs. 2878.48 thousand during the financial year 2022-23.

The Company's policy is to maintain a strong capital base and to sustain future development of the business. Management monitors the return on capital.

NOTE : 37 FUND RAISED AND IPO APPROVAL

The company has successfully launched its IPO (Initial Public Offering). The Public Issue consisted of 18,75,000 (Eighteen lakh sevety five thousand only) Equity shares of Rs. 10/- each at issue price of Rs. 135/- per equity share, including a premium of Rs. 125/- per equity & 112.50 per eq.share to employee of the company, aggregating to Rs. 2525.72 lakhs. The issue got over subscribed and the shares of company got listed on SME platform of NSE Limited- NSE SME on April 17, 2023.

NOTE : 38 FAIR VALUE MEASUREMENT

The company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an assets or paid to trasfer a liability in an orderly transaction between market participants at the measurement date._

NOTE : 39 FINANCIAL INSTRUMENTS

Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments. All the financial assets and liabilities are measured initially at fair value. Transaction costs that are directly atributable to the acquisition or issue of fiancial assets and fiancial liabilities (other than financial asstes and liabilities carried at fair value through profit or loss) are added or deducted from the fair value measured initial recongnition of finacial assets or financial laibility.

i. The company do not have any Benami property and neither any proceeding have been initiated or is pending against the Company for holding any Benami property.

ii. The company do not have any transactions with companies struck off.

iii. The company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

iv. The company has not been declared a wilful defaulter by any bank or financial institution or any other lander during the current period.

v. The loan has been utilized for the purpose for which it was obtained and no short term funds have been used for long term purpose.

vi. The company has not traded or invested in Crypto currency or Virtual Currency during the year.

vii. The company does not have any such transaction which are 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, 961 (such as, search or survey or any other relevant provisions of the Income Tax Act,1961.

viii. The provision regarding number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017 are not applicable to the Company.

ix. Borrowing secured against current and non-current assets:

The company has availing borrowing facilities from State Bank of India and ICICI Bank on the basis of securities of current and noncurrent assets. The company has filed quarterly statements or returns which are in agreement with the books of accounts except few cases which are not material and majority of the differences were on account of:

a. Inclusion of net trade receivables in quarterly statements while the same is classified separately as "advance from customers" and "trade receivables" in books of accounts.

b. inclusion of net trade payables in quarterly statements while the same is classified separately as "advance to creditors " "creditor for expenses" and "trade payable" in books of accounts.

c. Inclusion of net trade payables in quarterly statements while the same is classified separately as "advance to creditors "and "trade payable" in books of accounts.