Clause (e)- Rights, Preference 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 eligible for one vote per share held. The dividend (if any) proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting."

Clause (f)- Shares held by holding company or its ultimate holding company including their subsidiaries- Not applicable

Clause (g)- Particulars of shares held by shareholder holding more than 5% of the aggregate shares in the company:

Clause (h)- Shares reserved for issue under options and contracts/commitments for the sale of shares- Not applicable

Clause (i)- Shares allotted in the preceding five years without payment being received in cash/by way of bonus shares/ shares bought back- Not Applicable

3. Dues to Micro, Small and Medium Enterprises:

The management has written to vendors requesting them to inform whether they would fall under the preview of Micro, Small and Medium Enterprises Act, 2001. Based on disclosure received, there is no amount payable to such enterprises as at 31^st March 2024. The above information has been determined to the extent such parties have been identified on the basis of information available with the Company which has been relied upon by the auditors.

4. Status on Fire accident claim:Stock Claim

Brief: The claim relates to fire accident in the year 2013 at one of the units. Company is pursuing the suit filed at High Court in the year 2018 against repudiation of the claim by insurance company. The Company

Secretary has been attending the court hearings and the last hearing of this particular case has happened on 05.03.2024. The cross examination will continue and will hopefully be completed at the earliest possible time. Upon completion of the cross examination both the lawyers will be advancing written submissions. In our understanding a verdict on the case may be delivered before end of this calendar year.

Status: The matter is pending for continuation of cross examination. However, since the time granted for cross examination has expired, the matter is awaited to be listed before the Judge for further extension. The actual settlement will be treated as income in the year in which it is settled as per applicable accounting standard. The total claim amount for which suit filed is Rs. 8,97,19,415/-. We are maintaining the Claim receivable as Re.1/- in our books.

Machinery Claim:

Based on the petition filed by the Company, the High Court ordered appointment of arbitrator for adjudication of the disputes between the parties. Later the Supreme Court of India overturned the ruling based on appeal challenging it by the insurance Company. In view of this the Company has filed fresh suit in High Court against the repudiation of the claim. The court started functioning from 03.02.2021 hence the suit was filed during the period of 2021-22 for the settlement of remaining amount plus interest at the rate of 12% calculated on Rs. 1,78,59,593/- from the date of plaint till realization. The first hearing was started on 31.03.2022 before Honourable Madras High Court as suit for claim and we had the last hearing. The Company is confident that the merits of the case are in our favor and when the case is heard by the Court it will be having a better chance to put the facts.

Status: - The Company has written off a sum of RS. 178 Lakhs on the insurance claim receivable for machinery, owing to continual on hearing of legal matters and lapse of time much more than the expectation by the company even though the company is convinced about the veracity of the claim. The actual settlement will be treated as income in the year in which it is settled as per applicable accounting standard. We are maintaining the Claim receivable as Re.1/- in our books.

Wet Material Claim:

Brief: With regard to Wet claim the matter pertains to marine insurance claim for policy taken with M/S Tata AIG General Insurance Ltd pending before State Consumer Commission filed on August,2016, the dispute pertains to repudiation of entire claim worth Rs. 34,47,140 /-. The claim of is due to condensation and fungal growth on "clean bags" sent to one of our customer at Dubai, were else at the time of loading the cargo was dry and the shipment was exposed to high seas for 11 days. The surveyor appointed by defendant stated in its report that the bags must be exposed to water or condensed bags must have been loaded in the container due to wetness inside the container.

Status: The matter was listed for mediation talk, but the matter was not settled through mediation, hence the case has been moved to State Consumer forum. We had our last hearing on 21st November 2023. The matter is under argument stage. The company has written off sum of Rs.31,59,144/- of the insurance claim receivable for wet materials against marine insurance. The actual settlement will be treated as income in the year in which it is settled as per applicable accounting standard. We are maintaining the Claim receivable as Re.1/- in our books. The Total amount for which suit filed is Rs. 45,47,140 /- (Inclusive compensation and cost of suit).

Defined Benefit Plans:-Gratuity: -

The following table sets forth the status of the Gratuity Plan of the Company and the amount recognized in the Balance Sheet and Statement of Profit and Loss. The Gratuity liability is covered by a Master Policy taken out with LIC of India under the Cash Accumulation scheme.

The estimates of future salary increases, considered in actuarial valuation, takes account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

Notes:

(a) Estimates of future salary increase take account of inflation, seniority, promotion and other relevant factors.

(b) The discount rate is based on the prevailing market yields of Government of India Bonds as at the Balance Sheet date for the estimated term of the obligation.

(c) The Company's gratuity funds are managed by the Life Insurance Corporation of India and therefore the composition of the fund assets in not presently ascertained.

9. Segmental Reporting

Company's business segments are as under:

Manufacturing:

Manufacture of Flexible intermediate bulk container packaging material used for industrial purposes. Trading:

Trading of Polymers.

Segment Accounting Policies:

a. Segment accounting disclosures are in line with accounting policies of the Company.

b. Segment Revenue includes Sales and other income directly identifiable with / allocable to the segment.

c. Expenses that are directly identifiable with allocable to segments are considered for determining the Segment Result.

d. Major portion of segment liabilities and Assets relates to manufacturing segment

e. Regrouping done wherever necessary.

12. Financial Instruments A. Capital risk management

The capital structure of the company consists of debt, cash and cash equivalents and equity attributable to equity shareholders of the company which comprises issued share capital and accumulated reserves disclosed in the Statement of Changes in Equity.

The company's capital management objective is to achieve an optimal weighted average cost of capital while continuing to safeguard the company's ability to meet its liquidity requirements (including its commitments in respect of capital expenditure) and repay loans as they fall due.

B. Financial Risk Management a) Market risk

The company's activities expose it primarily to the financial risk of changes in interest rates. There have been no changes to the company's exposure to market risk or the manner in which it manages and measures the risk in recent past.

i) Currency risk

The company's exposure arises mainly on import (of raw material and capital items). Management uses certain derivative instruments to manage its exposure to the foreign currency risk. Foreign currency transactions are managed within approved policy parameters.

The carrying amounts of the Company's foreign currency denominated monetary assets and monetary

Foreign currency sensitivity analysis

The Company is mainly exposed to US Dollars.

The following table details the Company's sensitivity to a 1% increase and decrease in the INR against the relevant foreign currencies. 1% is the rate used in order to determine the sensitivity analysis considering the past trends and expectation of the management for changes in the foreign currency exchange rate. The sensitivity analysis includes the outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a 1% change in foreign currency rates. A positive number below indicates a increase in profit or equity where the INR Strengthens 1% against the relevant currency. For a 1 % weakening of the INR against the relevant currency, there would be a comparable impact on the profit or equity and balance below would be negative.

This is mainly attributable to the exposure of payable outstanding in the above mentioned currencies to the Company at the end of the reporting period.

i) Interest rate risk

The company is exposed to interest rate risk as the company borrows funds at floating interest rates linked with REPO rates. The risk is managed by the company by maintaining an appropriate floating rate borrowings.

ii) Credit risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining advances, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses other publicly available financial information and its own trading records to rate its major customers. The Company's exposure and the credit ratings of its counterparties are continuously monitored.

Trade receivables consist of a large number of customers, concentrated in the Chemicals, Pharmaceuticals and Minerals industry, Automobile industry, petro chemical, Agro and Food industry. Ongoing credit evaluation is performed on the financial condition of accounts receivable and, where appropriate, advances are received from customers.

At 31^st March 2024 the company did not consider there to be any significant concentration of credit risk which had not been adequately provided for. The carrying amount of the financial assets recorded in the financial statements, grossed up for any allowances for losses, represents the maximum exposure to credit risk.

iii) Liquidity Risk

The company manages liquidity risk by maintaining adequate reserves and banking facilities, by continuously monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities for the company. The company has established an appropriate liquidity risk management framework for it's short term, medium term and long term funding requirement.

ii. Fair value of financial assets / liabilities (other than investment in subsidiaries) that are not measured at fair value

The management considers that the carrying amount of financial assets and financial liabilities recognised at amortised cost in the balance sheet approximates their fair value.

Level 1 - Quoted price in an active market.

Level 2 - Discounted cash flow. Future cash flows are estimated based on forward exchange rates and

contract rates, discounted at a rate that reflects the credit risk of various counterparties.

Level 3 - Discounted cash flow method is used to capture the present value of the expected future

economic benefits that will flow to the company.

No provision has been made in the accounts in respect of disputed amount of sales tax as the company has contested the case and is hopeful of getting the verdict in its favor. Certain claims/show cause notices disputed have neither been considered as contingent liability nor acknowledged as claim, based on the

opinion obtained, since the possibility of loss is remote.

16. Balances of sundry debtors, creditors, advances & deposits received/paid are as per the books of accounts. Letters have been sent seeking confirmation of balances and replies from most of the cases are awaited. Adjustments, if any, will be made in the books of accounts on receipt of such confirmations.

18. Leases:

A lessee shall disclose the following amounts for the reporting period:

(a) depreciation charge for right-of-use assets by class of underlying asset;

(b) interest expense on lease liabilities;

(c) the expense relating to short-term leases accounted for applying paragraph 6 of Ind AS-116. This expense need not include the expense relating to leases with a lease term of one month or less;

(d) the expense relating to leases of low-value assets accounted for applying paragraph 6 of Ind AS-116. This expense shall not include the expense relating to short-term leases of low-value assets included in paragraph 53(c);

(e) the expense relating to variable lease payments not included in the measurement of lease liabilities;

(f) income from subleasing right-of-use assets;

(g) total cash outflow for leases;

(h) additions to right-of-use assets;

(i) gains or losses arising from sale and leaseback transactions; and

(j) the carrying amount of right-of-use assets at the end of the reporting period by class of underlying asset.

A lessee shall provide the disclosures specified in paragraph 53 of Ind AS-116, in a tabular format, unless

another format is more appropriate. The amounts disclosed shall include costs that a lessee has included in

the carrying amount of another asset during the reporting period.

19. Additional Regulatory Information:

a. The title deeds of all 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 has not revalued its Property, Plant and Equipment (including Right of use assets) or intangible assets during the year ended 31 March, 2024.

c. The company has not given any Loans or Advances in the nature of loans to promoters, directors, KMPs and their related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person.

d. No Intangible assets under development during the year.

e. Quarterly statements of current assets filed with banks and financial institutions for fund borrowed from those banks and financial institutions on the basis of security of current assets are in agreement with the

books of account.

g. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

h. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

i. There are no transactions and / or balance outstanding with companies struck off under section 248 of the Companies Act, 2013.

j. The company does not have any investments through more than two layers of investment companies as per section 2(87) (cd) and section 186 of Companies Act, 2013.

k. No proceedings have been initiated during the year or are pending against the Company as at 31 March 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

l. The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

m. There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year