h. Provisions

i. Provisions are recognised when the Company has a present obligation (legal or constructive) 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 a reliable estimate can be made of the amount of the obligation.

ii. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.

i. Tax Expenses

i. The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and
Loss, except to the extent that it relates to items recognised in the comprehensive income or in equity. In which
case, the tax is also recognised in other comprehensive income or equity.

ii. Current tax: Current tax assets and liabilities are measured at the amount expected to be recovered from or
paid to the taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the
Balance sheet date.

iii. Deferred tax: Deferred tax is recognised on temporary differences between the carrying amounts of assets and
liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities and
assets are reviewed at the end of each reporting period.

iv. MAT Credit: Minimum Alternate T ax (MAT) credit is recognised as an asset only when and to the extent there
is convincing evidence that the Company will pay normal income tax during the specified period. In the year in
which the MAT credit becomes eligible to be recognised as an asset, in accordance with the provisions
contained in the Guidance Note on Accounting for Credit Available under Minimum Alternate Tax, issued by
the ICAI, the said asset is created by way of a credit to the Statement of Profit and Loss and shown as 'MAT
Credit Entitlement. The Company reviews the same at each Balance Sheet date and writes down the carrying
amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the effect that the
Company will pay normal income tax during the specified period.

j. Foreign Currency Transactions and Translation

i. Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency
closing rates of exchange at the reporting date.

ii. Exchange differences arising on settlement or translation of monetary items are recognised in Statement of
Profit and Loss except to the extent of exchange differences which are regarded as an adjustment to interest
costs on foreign currency borrowings that are directly attributable to the acquisition or construction of
qualifying assets, are capitalized as cost of assets. Additionally, exchange gains or losses on foreign currency
borrowings taken prior to April 1, 2017 which are related to the acquisition or construction of qualifying
assets are adjusted in the carrying cost of such assets.

iii. Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using the
exchange rates at the date of the transaction. Non-monetary items measured at fair value in a foreign currency
are translated using the exchange rates at the date when the fair value was measured. The gain or loss arising
on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain
or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or
loss is recognised in OCI or Statement of Profit and Loss are also recognised in OCI or Statement of Profit and
Loss, respectively).

k. Revenue Recognition

i. Revenue from sale of goods is recognised when the significant risks and rewards of ownership have been
transferred to the buyer, recovery of the consideration is probable, the associated cost can be estimated
reliably, there is no continuing effective control or managerial involvement with the goods, and the amount of
revenue can be measured reliably.

ii. Revenue from sale of goods is measured at the fair value of the consideration received or receivable, taking
into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the
government.

iii. Revenue from operations includes sale of goods, excise duty and adjusted for discounts (net), and gain/ loss
on corresponding hedge contracts.

iv. Interest income: Interest income from a financial asset is recognised using effective interest rate method.

l. Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to the equity
shareholders by the weighted average number of equities shares outstanding during the year. For the purpose
of calculating diluted earnings per share, net profit or loss for the year attributable to equity shareholders and
the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive
potential equity shares.

m. Cash Flow Statement

i. Cash flows are reported using the Indirect Method, whereby profit/ (loss) before tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.

ii. Cash and cash equivalents comprise cash and cash on deposit with banks and corporations. The Company
considers all highly liquid investments with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be cash equivalents. Financial instruments

I. Financial Assets

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair value
through profit or loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial assets
are recognised using trade date accounting.

B. Subsequent measurement

a) Financial assets carried at amortized cost (AC)

A financial asset is measured at amortized cost if it is held within a business model whose objective is to hold
the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

b) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset
give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.

c) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL.

C. Investment in subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in subsidiaries, associates and joint venture at cost.

D. Other Equity Investments

All other equity investments are measured at fair value, with value changes recognised in Statement of Profit
and Loss, except for those equity investments for which the Company has elected to present the value changes
in 'Other Comprehensive Income'.

E. Impairment of financial assets

In accordance with Ind AS 109, the Company uses 'Expected Credit Loss' (ECL) model, for evaluating
impairment of financial assets other than those measured at fair value through profit and loss (FVTPL).
Expected credit losses are measured through a loss allowance at an amount equal to:

The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

Full lifetime expected credit losses (expected credit losses that result from all possible default events over the
life of the financial instrument)

For trade receivables Company applies 'simplified approach' which requires expected lifetime losses t o be
recognised from initial recognition of the receivables. The Company uses historical default rates to determine
impairment loss on the portfolio of trade receivables. At all reporting date these historical default rates are
reviewed and changes in the forward-looking estimates are analyzed.

For other assets, the Company uses 12-month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

II. Financial liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of
recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other
payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value
due to the short maturity of these instruments.

III. Derecognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial
asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A
financial liability (or a part of a financial liability) is derecognized from the Company's Balance Sheet when the
obligation specified in the contract is discharged or cancelled or expires.

ii. Critical Accounting Estimates:

a) Depreciation / amortization and useful lives of property plant and equipment / intangible assets

Property, plant and equipment / intangible assets are depreciated / amortized over their estimated useful lives,
after taking into account estimated residual value. Management reviews the estimated useful lives and residual
values of the assets annually in order to determine the amount of depreciation / amortization to be recorded
during any reporting period. The useful lives and residual values are based on the Company's historical
experience with similar assets and take into account anticipated technological changes. The depreciation /
amortization for future periods is revised if there are significant changes from previous estimates.

b) Recoverability of trade receivable

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether
a provision against those receivables is required. Factors considered include the credit rating of the
counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken
to mitigate the risk of non-payment.

c) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future
outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably
estimated. The timing of recognition and quantification of the liability requires the application of judgement to
existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and
liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

d) Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If
any indication exists, the Company estimates the asset's recoverable amount. An asset's recoverable amount is
the higher of an asset's or Cash Generating Units (CGU's) fair value less costs of disposal and its value in use. It
is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or a groups of assets. Where the carrying amount of an asset or CGU
exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable
amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the
asset. In determining fair value less costs of disposal, recent market transactions are taken into account, if no
such transactions can be identified, an appropriate valuation model is used.

e) Impairment of financial assets

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

The Company called for the information from creditors regarding their status as to small scale undertaking, in
order to make the required disclosure. Cases where no response was received, it is assumed that they are not
covered under the definition of Micro and Small Enterprises. Total outstanding to Micro and Small Enterprises
as on 31.3.2025 is Rs.195.60 lakhs out of which Rs. Nil is overdue. (previous year it was Rs.317.89 lakhs out
of which Rs. Nil was overdue)

Note: Claim against the Company not acknowledged as debt for the year ended 31st March, 2024 and 31st
March, 2025 represents Maharashtra Value Added Tax Demand of Rs.138.54 lakhs and Central Sales Tax
Demand of Rs. 138.11 lakhs pertaining to period 2008-09 totalling Rs.276.65 lakhs against which Company is
in appeal and company has deposited Rs. 12.22 as appeal fees against the same. Tax consultant is contesting
the demand and the Management including its tax advisors believe that its position will likely be upheld in the
appellate process. The Management believes that the ultimate outcome of these proceedings will not have a
material adverse effect on the Company's financial position and results of operation.

Related Party Disclosures

As per Ind AS 24, the disclosures of transactions with the related parties are given below:

Approval of Financial Statements

The financial statements were approved for issue by the board of directors on May 28, 2025.

Others

i. In the opinion of the Board of Directors, all assets other than fixed assets and non-current investment are
realizable in the ordinary course of business at the value at which they are stated in the Financial Statement.

ii. Accounts with certain financial institutions, banks and companies are subject to reconciliation, however, in
the opinion of management these will not have any significant impact on the profit for the year and the net
worth of the Company as on the Balance Sheet date.

iii. One of the Bank accounts of the Company held with Bank of Baroda was seized by the sales tax authorities
having debit balance of Rs.0.11 lakh.

Reclassification

The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current
year's presentation/disclosure.

For RAM K RAJ & Associates For and on behalf of the Board of Directors

Chartered Accountants Sd/- Sd/-

Sd/- Ramesh Kumar Chaudhary Amit Chaudhary

(CA J.B. Garg) Chairman Chief Financial Officer

Partner (DIN:00080136)

Date: 28.05.2025 Sd/- Sd/-

Place: Pune Sandeep Kanoria Yash Mishra

Managing Director Company Secretary

(DIN:00084506)