Provisions and contingencies

Provisions are recognized when an enterprise has a present obligation as a result of past event for which it is
probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted to its present value and are determined based on best
estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the best current estimates.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurence or non-occurence of one or more uncertain future events not
wholly within the control of the company or the present obligations that arises from past events, where it is
either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.

Segment Reporting Policies
Identification of segments:

The Company's operating businesses are organized and managed separately according to the nature of products
and services provided, with each segment representing a strategic business unit that offers different products
and serves different markets. The analysis of geographical segments is based on the geographical location of
the customers wherever required.

Allocation of common costs:

Common allocable costs are allocated to each segment according to the relative contribution of each segment

to the total common costs.

Unallocated items:

Includes general corporate income and expense items which are not allocated to any business segment.
Segment Policies:

The company prepares its segment information in conformity with the accounting policies adopted for preparing
and presenting the financial statements of the company as a whole.

Cash and Cash Equivalents

Cash and cash equivalents for the purposes of the cash flow statement comprise cash at bank and in hand and
short-term investments with an original maturity of three months or less.

Cash Flow Statement

Cash flows are reported using the Indirect Method, 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 expenses associated with investing or financing cash flows. The cash flows from
operating, investing and financing activities are segregated.NOTE No. 3 :SHARE CAPITAL

Note No- 3(iii) Rights , preferences and restrictions attaching to each class of shares:

The Company has only one class of shares referred to as equity shares having a par value of '10/- each holder
of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of
equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential
amounts, if any. The distribution will be in the proportion to the number of equity share held by the shareholders.

Note No- 3(iv) Shares allotted as fully paid-up :

Note

Pursuant to Section 52 of the Companies Act , 2013 , Securities Premium account has been utilized against share
issue expenses related to Issue management fees, professional fee and other expenses incurred amounting to
Rs. 75.00 Lakhs (P.Y.Rs. 254.60 lakhs) related to the preferential issue of equity shares during the year.

The amount that can be distributed by the Company as dividends to its equity shareholders is determined
considering the requirements of the Companies Act, 2013. On 02nd December 2024, an interim dividend of
Rs 0.50 per share (Total dividend Rs. 70.30 lakhs) was paid to holders of fully paid equity shares.

Axis Bank: The above facility is secured by way of hypothecation charge on entire present and future current
asset of the company and by way of first charge on the entire movable fixed assets of the company. The above
facility is further secured by way of equitable mortgage on shed no.

121/8, 121/9, 121/20 to 22 and Shed no. 121/23 & 121/24 situated at Kalol. The facility is further secured by
way of property situated at

Industrial property 503/A, R.S. No. 32/P, GIDC Halol, Vadodara in the name of Krish industries Pvt. Ltd. to be
negatively lien marked in favour of

Axis Bank .The facility is further secured by way of equitable mortgage on property situated at Flat no. B-302,
Shivam Residency Tower, Opp. Urmi School, B/h Gangotri Party Plot, Samasavli Road, Vadodara - 390 002
which is owned by the director. The facility is further secured by way of lien on fixed deposits of Rs.513.00
Lakhs. The facility is further secured by way of lien on LIC policy in name of Mr. Ankur Shah having surrender
value of Rs. 62.00 Lakhs. The facility is further secured by way of personal guarantee of the Managing director.
Interest rate is 9.25% i.e. Repo 2.75%

Punjab National Bank: The above facility is primarily secured by way of paripassu hyphothicatiom charge
on entire stock and book debts of the company and is collaterally secured by way of paripassu charge on
immovable properties mortgaged with Axis Bank Limited. Further , the loan is collaterally secured by way of
exclusive charge on office owned by the company situated at Unit No. 344, 3rd Floor, A to Z industrial Estate,
Ganpatrao kadam Marg, Near Peninsula Corporate Park, Lower Parel (West), Mumbai-400013, Fixed deposit
of Rs. 129.87 Lakhs and personal guarantee of managing director . Interest rate is 9.75% i.e. Repo rate 6.50%
Mark up 2.50% BSP 0.25% Spread 0.50% ( il) Details of terms of interest of loan from director

Note: 1 Trade payable given to bank includes only payables related to materials(net of advances) and the
payables towards other expenses creditors are not included in statement submitted to bank.

Note: 2 Stock of scrap is not considered by Bank and therefore Stock of scrap & Stock in transit is not included
in Stock statement submitted to the bank

Note: 3 Receivables on account of material in transit considered in Stock statement submitted to bank
32.H Other Regulatory Disclosure

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

(ii) The company does 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 ROC beyond the
statutory period.

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the year.

(v) 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: 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 provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(vi) 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:

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 provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries.

vii) The Company do not have any such transaction which is not recorded in the books of accounts and 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)

viii) The company holds all the title deeds of immovable property in its name. ix) The company is not declared
as willful defaulter by any bank or financial Institution or other lender.

Provision for warranty

Warranty cost are provided based on a technical estimated of the costs required to be incurred for repairs,
replacement, material cost, servicing based on past experience in respect of warranty costs. It is expected that
this expenditure will be incurred over the contractual warranty period.

The movement in the above provisions are summarised below:

NOTE NO. 34: Share Based Payment

The share-based payment plan is an employee option plan. The options are equity settled options.

At the annual general meeting of company held on 13th August, 2024, member of the company passed the
special resolution for introducing “ Employee Stock Option Plan 1” of 3,00,000 options for the benefit of the
employee of the company. The resolution also accorded approval for the Board of Directors, to formulate
the Scheme as per broad parameters outlined in the resolution. Pursuant to Scheme framed, the company has
granted options to eligible employees of the company under plan. Each options entitle for one equity share.
Additionally, the scheme received in-principle approval from the National Stock Exchange (NSE) as on 17th
October 2024. The company granted 63,356 Stock Option to its employees by virtue of grant letter dated
11th, November, 2024. However The employee has accepted the 58,764 stock option. The vesting conditions
of which are as outlined in their grant letter. Necessary impact have been considered. Further, the company has
not yet granted the 2,36,644 Stock Option to its employees. The options are exercisable at an exercise price of
Rs. 304 per share (Face Value of Rs.10 per share).

NOTE NO. 35:

In respect of the year ended 31st March 2025, the Board of Directors has proposed a final dividend of
Rs.0.50 per share be paid on fully paid equity shares. This equity dividend is subject to approval by share¬
holders at the Annual General Meeting and has not been included as a liability in these financial statements.
The proposed equity dividend is payable to all holders of fully paid equity shares. The total estimated equity
dividend would result in total cash outflow of Rs.70.30 lakhs.

NOTE NO. 36:

The financial statements were authorized for issue in accordance with a resolution passed by the Board of
Directors on 20th May, 2025. The financial statements as approved by the Board of Directors are subject to
final approval by its Shareholders.

NOTE NO. 37: Previous year’s figures

The figures of previous year have been re-arranged and regrouped wherever necessary to make them

For CNK & Associates LLP For and on behalf of the Board of

Chartered Accountants ^Directors

FRNo. : I0I96IW/W-I00036 Ankur Ashwin Shah Sandeep Ramrao Kadam

Managing Director Whole Time Director
DIN:01166537 DIN:06841164

Place: Vadodara Place: Vadodara

Pareen Shah Gunjan Bhagtani Piyush Harjibhai Patel

^Partner Company Secretary Chief Financial Officer

Mem no. 125011

Place: Vadodara Place: Vadodara

Date: 20th May, 2025 Date: 20th May, 2025