(b) Terms/Rights attached to Equity Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. Each equity shareholder is entitled for one vote per share. The Company declares and pay dividend in Indian Rupees.

During the year ended March 31, 2025, the amount of dividend recognised as distribution to equity shareholders was Rs. 1.00 per share (previous year Rs. 1.00 share)

The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law, in particular the Companies Act, 2013.

The Company is subject to Income Tax in India on the basis of its financial statements. The Company can claim tax exemptions/deductions under specific sections of the Income Tax Act, 1961 subject to fulfillment of prescribed conditions, as may be applicable. The Company during the year ended on 31.03.2021 has opted for the new tax regime under Section 115BAA of the Act, which provide a domestic company with an option to pay tax at a rate of 22% (effective rate of 25.168%). The lower rate shall be applicable subjet to certain conditions, including that the total income should be computed without claiming specific deductions or exemptions.

Terms and conditions of transactions with related parties :

1. The Company has been entering into transactions with related parties for its business purposes.Related party vendors are selected competitively in line with other unrelated parties having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantages in terms of:

(a) Supplying products primarily to the Company

(b) Advanced and innovative technology

(c) Customisation of products to suit the Company's specific requirements, and

(d) Enhancement of the Company's purchase cycle and assurance of just in time supply with resultant benefits-notably on working capital.

2. The purchases from and sales to related parties are made on terms equivalent to and those applicable to all unrelated parties on arm's length transactions. Outstanding balances payable and receivable at the year-end are unsecured, interest free and will be settled in business transactions

Haryana Government had imposed a levy namely Local Area Development Tax in the year 2007. However, the matter is pending in the Supreme Court.

Note : 37 Segment Reporting

In accordance with IND AS 108 "Operating Segments", the Board of Directors of the company, being the Chief Operating Decision Maker of the company has determined "Stainless Steel Products" as the only operating segment.

Note : 38 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet derived after taking all Ind (AS) into consideration.