Defined Contribution Plan:

Provident Fund:

The Company makes contributions of a specified percentage of a payroll costs towards the provident fund and other funds. Amount recognised in the Statement of Profit and Loss, included in Employee benefits expense of Rs 31.31 Lakhs (P.Y. Rs 28.62 Lakhs)

Defined Benefit Plan:

Compensated Absences:

Annual Leave Allowance : Employees are entitled to 15 days of leave per year. These 15 days leave includes both sick leave and casual leave. Additional compensated leave is provided on an as-needed basis, subject to Company's approval. Unused leave cannot be carried forward to the next year. Any remaining leave balance at the end of the financial year will be encashed by the employee in the next financial year. Provision for compensated absences are being accounted as per accrued liability basis.

Gratuity :

The Company operates a defined benefit gratuity plan for employees. The liability for the Defined Benefit Plan is provided on the basis of an acturial valuation, using the Projected Unit Credit Method, as at the Balance Sheet date, carried out by an independent actuary. The Company contributes to the Group Gratuity Scheme of LIC and contributions are debited to the Statement of Profit and Loss. These benefit plans expose the Company to actuarial risks, such as longevity risk, interest rate risk and investment risk.

Note 36 :SegmentReporting (AS-17)_

a) Primary segment reporting by business segment:

The Company is engaged in the manufacturing of forged flanges, rings, blanks, and other related products across all grades.

As per Accounting Standard (AS-17), there are no separate reportable segments identified within the company's operations.

Note 38 : UtilisationoflPO Proceeds_

During the year, the Company has completed initial public offering (IPO) of Rs. 3,234.38 lakhs (including fresh issue of Rs. 2,833.18 lakhs) comprising of (i) equity shares of 48,02,000 each at an issue price of Rs. 59 per share towards fresh issue of equity shares (ii) equity shares of 6,80,000 each at an issue price of Rs. 59 per share towards offer for sale. The equity shares of the Company, has got listed on NSE Emerge Platform on 25 September 2024 having NSE Scrip Code "PSFL" under SME IPO. The Company has incurred issue expenses amounting to Rs. 433.46 lakhs. In accordance with Applicable Law, these expenses are borne by the Company and Selling Shareholders, in the proportion of the equity shares issued by the Company and sold by each of the Selling Shareholders in the Offer for Sale, amounting to Rs. 377.71 lakhs and Rs. 55.75 lakhs respectively. The Company's share of expense of Rs. 377.71 lakhs has been adjusted against Securities Premium as at 31 March 2025.

Note 41:Additional Disclosures_

(i) Title deeds of Immovable Property are held in name of the Paramount Speciality Forgings LLP, which was converted into Paramount Speciality Forgings Ltd. The Company is in process of changing the name in the title deeds. Refer note no. 42 for full details of such properties.

(ii) The Company has not revalued its Property, Plant and Equipment.

(iii) The Company has not granted any Loans or Advances in the nature of loans to Promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are (a) repayable on demand or (b) without specifying any terms or period of repayment.

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

(v) The Company does not have any Intangible assets under development.

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

(vii) The Company has borrowings from banks or financial institutions on the basis of security of assets and book debts

(viii) The Company has not been declared as a willful defaulter by any bank or financial institution or other lender.

(ix) The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

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

(xi) The Company has not entered into any scheme of arrangement therefore approval of competent authority in terms of sections 230 to 237 of the Companies Act, 2013 is not required.

(xii) The Company has not traded or invested in Crypto currency or Virtual Currency during the current or previous financial year.

(xiii) 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:

(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.

(xiv) The Company has 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.

(xv) The Company has not entered into any such transaction which is not recorded in the books of account 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.

Note_43:_The_Social_Security_Code,_2020_

The Code on Social Security 2020 ('the Code') relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued. The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

Note 44_

The Company is formed by converting erstwhile Limited Liability Partnership (LLP) following its dissolution w.e.f. May 5, 2023. Accordingly, the comparable period in this financial statements are for the period May 5, 2023 to March 31, 2024 and are not strictly comparable with the current year figures.

Note 45_

Previous year's figures have been regrouped / reclassified wherever necessary to conform to current year's classification/ disclosure.