n) Provisions and contingent liabilities

A provision is recognised when the Company has a present obligation as a result of a past event, it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation and reliable estimate can be made of the amount of the obligation. A contingent liability is
recognised where there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. The Company
does not recognise assets which are of contingent nature until there is virtual certainty of the realisation of such assets. However, if it has become
virtually certain that an inflow of economic benefits will arise the asset and related income are recognised in the financial statements of the year in
which the change occurs.

1.03 Contingent liabilities and commitments

(to the extent not provided for)

Contingent liabilities and commitments:

(i) The Company had availed custom duty exemptions under the Export Promotion Capital Goods (EPCG) Scheme of the Government of India on
import of capital equipment for use in its manufacturing activities. The export obligation relating to the old EPCG licenses has been fully discharged,
and there is no pending expbrt commitment as at 31st March 2025 (Previous Year: NIL).

Further, the Company has obtained a new EPCG license in March 2025. The export obligations arising from the new license will be discharged over
the prescribed period as per the terms of the Scheme.

(ii) Estimated amount of contracts remaining to be executed on capital account (net of advances) - ^NIL (Previous Year: ^NIL).

1.04 The Previous Year figures have been regrouped/rearranged wherever necessary to make them comparable.

32 Details of Benami Property held-Where any proceedings have been initiated or pending against the company for holding any benami property

The Company is not involved in any proceedings, whether initiated or pending, concerning the holding of any benami property. The Company ensures full compliance with relevant laws
and regulations regarding the ownership and holding of properties.

33 Details where company is Wilful defualter

The Company is not classified as a willful defaulter by any financial institution, bank, or regulatory authority. The Company maintains a strong commitment to fulfilling its financial

obligations in a timely manner.

34 Security of current assets against borrowings from banks or financial institutions on the basis of security of current assets:

The Company has not made any borrowings during the financial year that are secured against current assets from banks or financial institutions.

35 Registration of charges or satisfaction with Registrar of Companies

All charges and satisfactions of charges relating to the Company have been duly registered with the Registrar of Companies [ROC) within the prescribed statutory time limit There are no
charges or satisfaction of charges pending registration as at the balance sheet date.

36 Utilisation of Borrowed funds and share premium-Given or taken both

The Company has not advanced or loaned or invested any funds [either from borrowed funds or share premium or any other sources or kind of funds) to any other person[s) or
entity(ies), including foreign entities ["Intermediaries"), with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

Directly or indirectly lend or invest in other persons or entities identified 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.

Further, the Company has not received any funds from any person(s) or entity(les), including foreign entities ("Funding Parties"), 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 by or on behalf of the Funding Party (Ultimate Beneficiaries), or

37 Disclosure regarding undisclosed income

The Company has not recorded any transaction in the books of accounts during the years ended 31 March 2025, 31 March 2024, and 31 March 2023 that has been surrendered or
disclosed as income during the income tax assessments under the Income Tax Act, 1961.

Accordingly, no previously unrecorded income has been brought into the books during the year.

38 Disclosure regarding details of crypto currency or virtual currency:

The Company has not traded or invested in cryptocurrency or virtual currency during the financial year. Accordingly, no disclosures related to holding, trading or transactions in
cryptocurrency or virtual currency are required to be made in the financial statements.

39 No scheme of Arrangements has been approved by competent authority in terms of sections 230 to 237 of the Companies Act,2013 in respect of the Company.

The company has not provided nor taken any loan or advance to/from any other person or entity or invested any funds or provided any guarantee or security with the understanding that

benefit of the transaction will go to a third party, the ultimate beneficiary.

40

In the opinion of the Board of Directors, the current assets, loans, and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are
stated in the Balance Sheet, except to the extent of provisions made for doubtful debts, which have been appropriately disclosed in the financial statements.

41

^2 No employee is in receipt of remuneration exceeding in aggregate of Rs. 1,02,00,000/- if employed throughout the year or Rs. 8,50,000/- per month if employed for a part of the year.

Sitting fees for attending Board Meetings have been duly accounted for and paid/payable to the Directors as per the provisions of the Companies Act, 2013 and the terms approved by the
43 Board of Directors.

There are no indications of impairment on any individual cash generating assets or on cash generating units in the opinion of management and therefore no test of impairment is carried

44- out.

45 Details of loans given, investments made and security provided covered under section 186(4) of the Companies Act, 2013:-

Pursuant to Section 186(4) of the Companies Act, 2013, the details of loans given, investments made and guarantees provided by the Company are as under:

The Company has made an investment in a joint venture company having a paid-up share capital of *300 lakh. The Company holds a 60% equity interest in the said joint venture.

The aggregate amount of investments made is ^180 lakh as at 31st March 2025.

The limit for making investments, loans, and providing guarantees under Section 186(2) of the Companies Act, 2013, based on the Company's standalone financials as at 31st March 2025,
is as follows:

60% of the aggregate of paid-up share capital, free reserves and securities premium account: ^7,346.18 lakh
100% of the aggregate of free reserves and securities premium account: ^[9,768.74 lakh

Accordingly, the Company's investment is within the permissible limit as prescribed under Section 186(2) of the Companies Act, 2013.

All the known income and expenditure and assets and liabilities have been taken into account and that all the expenditure debited to the profit and loss account have been exclusively
incurred for the purpose of the company's business.

46

47 Balance in the accounts of debtors, creditors and advances are subject to confirmation/ reconciliation/adjustment from the respective parties.

48 The loans and advances made by company are unsecured and treated as current assets and not prejudicial to the interest of the company.

Previous's Year Figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disdosure.

58 Segment Reporting

Segments have been identified in accordance with Accounting Standard 17 - "Segment Reporting", considering Che nature of the Company’s products and services, the associated risks and
returns, the organizational structure, and the internal financial reporting systems.

The Company is primarily engaged in the manufacture and sale of flexible packaging materials, which is considered as its sole business segment. Based on the assessment made by the
management and as reviewed by the Board of Directors, the Company operates in a single business and geographical segment, and accordingly, there are no separate reportable segments
under AS 17.

Further, revenue from export operations constitutes less than 10% of the total revenue during the year. Hence, no separate geographical segment disclosure is required under the
applicable accounting standards.

Methodology:

1. Current Ratio = Current Asset / Current Liability

2. Debt-Equity Ratio = Total Debt / Shareholder fund

3. Debt Service Coverage Ratio = EBITDA / Finance Cost

4. Return on Equity Ratio = (Profit After Tax-Prefrence dividend) / Average Equity

5. inventory Turnover Ratio = COGS/sales/Average Inventory

6. Trade Receivable Turnover Ratio = Revenue front Operations /Average Trade Receivable

7. Trade Payable Turnover Ratio = Net Credit Purchase / Average Trade Payable

8. Net Capital Turnover Ratio = Revenue from Operations / Average working capital

9. Net Profit Ratio = Profit After Tax / Revenue from Operations

10. Return on Investment = Net income on investment / Average of Investment

11. Return on Capital Employed = EBIT/ (Total Equity Total Debt) f\

4,

For KRA & Co |Jwj/ .i

Chartered Accountants \f\ /") Itfl/I/ hSL-

FRN: 020266N ^<S //W

II I —------ jafwant Bery

U ____—— \ ] DIN: 00380445

f Q^i \ Krishan Mohan Pandey * .

Raja^Goy^j! wJjVJ j^j Wholetime Director H|

M No: 50J&J DIN: 10426591 A/ I) , '

Partner

' w-* Beepshikha Mittal

UDIN: 25503150BMJBZB8008 V Company Secretary

PLACE: Delhi PAN: AUZPD5180H

DATE: 16-05-2025 Anijftija^rGupta

*CFO

_PAN:ABVPG9457F_