ii) Estimation of Provisions and Contingent Liabilities

The company exercises judgment in measuring and recognising provisions and the exposures to contingent liabilities, which is related to pending
litigation or other outstanding claims. Judgment is necessary in assessing the likelihood that a pending claim will succeed, or a liability will arise,
and to quantify the possible range of the financial settlement.

Because of the inherent uncertainty in this evaluation process, actual liability may be different from the originally estimated as provision. Although
there can be no assurance of the final outcome of the legal proceedings in which the company is involved, it is not expected that such contingen¬
cies will have a material effect on its financial position or profitability.

iii) Estimation of useful life of Property, Plant and Equipment and Intangible assets

Property, Plant and Equipment and Intangible assets represent a significant proportion of the asset base of the company. The charge in respect
of periodic depreciation is derived after determining an estimate of an asset‘s expected useful life and the expected residual value at the end of
its life. The useful lives and residual values of company‘s assets are determined by management at the time the asset is acquired and reviewed
periodically, including at each financial year end. The useful lives are based on historical experience with similar assets as well as anticipation of
future events, which may impact their life, such as changes in technology.

iv) Estimation of provision for inventory

The company writes down inventories to net realisable value based on an estimate of the readability of inventories. Write downs on inventories
are recorded where events or changes in circumstances indicate that the balances may not realised. The identification of write-downs requires the
use of estimates of net selling prices of the down-graded inventories. Where the expectation is different from the original estimate, such difference
will impact the carrying value of inventories and write-downs of inventories in the periods in which such estimate has been changed.

v) Impairment of Trade Receivable

The impairment provisions for trade receivable are based on assumptions about risk of default and expected loss rates. The company uses judg¬
ment in making these assumptions and selecting the inputs to the impairment calculation, based on the company's past history, existing market
conditions as well as forward looking estimates at the end of each reporting period.

III. B New accounting standards/ amendments adopted during the reporting period

Following are the amendments to existing standards which have been issued by The Ministry of corporate Affairs (-MCA) that are effective for the
reporting period and have been adopted by the company:

a) Amendments to Ind AS 115, Revenue from contracts with customers:

Ind AS 115, Revenue from contracts with customers deals with revenue recognition and establishes principles for reporting useful information to
users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity‘s contracts with
customers. Revenue is recognized when a customer obtains control of a promised good or service and thus has the ability to direct the use and
obtain the benefits from the good or service in an amount that reflects the consideration to which the entity expects to be entitled in exchange for
those goods and services. The standard replaces Ind AS 18 Revenue and related appendices.

A new five-step process must be applied before revenue can be recognized:

1. identify contracts with customers

2. identify the separate performance obligation

3. determine the transaction price of the contract

4. allocate the transaction price to each of the separate performance obligations, and

5. recognise the revenue as each performance obligation is satisfied.

The Company has adopted Ind AS 115 ‘Revenue from Contracts with Customers' with the date of initial application being April 1, 2018. Ind AS
115 establishes a comprehensive framework on revenue recognition. Ind AS 115 replaces Ind AS 18 ‘Revenue' and Ind AS 11 ‘Construction
Contracts'. The application of Ind AS 115 did not have material impact on the financial statements. As a result, the comparative information has
not been restated.

b) Amendments to Appendix B to Ind AS 21 Foreign currency transactions and advance consideration:

Appendix B to Ind AS 21 ‘The Effects of Changes in Foreign Exchange Rates': On March 28, 2018, Ministry of Corporate Affairs (“MCA”) has no¬
tified the Companies (Indian Accounting Standards) Amendment Rules, 2018 containing Appendix B to Ind AS 21, Foreign currency transactions
and advance consideration which clarifies the date of the transaction for the purpose of determining the exchange rate to use on initial recognition
of the related asset, expense or income, when an entity has received or paid advance consideration in a foreign currency. The amendment is
effective from April 1,2018. The Company has evaluated the effect of this amendment on the financial statements and concluded that the impact
is not material.

Notes :

• The Current ratio decreased due to decrease in certain financial assets and increase in financial liabilities.

• The decrease in Debt-Equity Ratio due to decrease in debt.

• The Net Capital Turnover Ratio decrease due to decrease in working capital and Increased in turnover.

• Net Profit Ratio decreased due to increase in operating expenses.

• The Return on capital employed Ratio increased due to increase in operating profit.

• Return on Investment ratio increased due to increase in profit from investment.

• Debt Service Coverage Ratio increased due to increase in operating income.

• The Return on equity Ratio increased due to increase in the operating profit.

• Inventory Turnover Ratio increased due to increase in the sales.

• The debtors' turnover ratio has decreased during the year due to increase in realization.

• The creditors' turnover ratio has increased during the year due to increase in payouts.

35. Previous year figures have been reclassified to conform to this year’s classification.

As per our report of even date attached For and on behalf of the Board.

For Sanjay Raja Jain & Co.

Chartered Accountants

FRN - 120132W Dinesh Poddar Rajesh Poddar

Chairman and Managing Director Joint Managing Director

[DIN : 00164182] [DIN : 00164011]

Sanjay Raja Jain

(Partner)

M.No.108513 Riddhi Vaity Shantaram Shinde

UDIN : 25108513BMOLFE9552 Company Secretary Chief Financial Officer

Place : Mumbai. [M. No. A53095] [PAN:BGFPS8417M]

Date : 28th May, 2025.