e) Contingent Liabilities

Liabilities which are material and whose future outcome cannot be reasonably ascertained are treated as contingent and not provided for and disclosed by way of notes to the accounts.

f) Taxes on Income

Current Taxes are accounted based on provisions of Income Tax Act,1961.

Deferred Tax is recognized, subject to the consideration of prudence, in timing differences between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

g) Provisions

Provisions are recognised, where the company has any legal or constructive obligation or where realiable estimate can be made for the amount of the obligation and as a result of past events, for which it is probable that an outflow of economic benefits will be required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

h) Impairment of Tangible Assets

The Company assesses at each balance sheet date whether there is any indication that any asset may be impaired. If any such indication exists, the carrying value of such assets is reduced to its estimated recoverable amount and the amount of such impairment loss is charged to statement of profit & loss.. If at the balance sheet date there is an indication that previously assessed impairment loss no longer exists, then such loss is reversed and the asset is restated to that effect.

i) Inventory Valuation

Inventories are valued at lower of cost or net realizable value. Cost of Finished goods is determined by including direct materials, labour, other expenses and a proportion of overheads based on normal operating capacity. Cost of finished goods has been determined on FIFO. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and to make the sale. Cost of raw materials stores and spares, are determined of FIFO basis. By products are valued at net realizable value.

j) Cash and Cash equivalents

Cash and Cash equivalents in the balance sheet comprise cash at bank and in hand and short-term investments with an original maturity of three months or less.

k) Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period are adjusted for events of bonus issue; bonus element in a right issue to existing shareholders.

For the purpose of calculating diluted earnings per share, the 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.

2.2 In the opinion of the management ,the value of realization of loans,advances & current assets in the ordinary course of business will not be less than amount at which they are stated in the balance sheet

2.3 In the absence of confirmations, the entries recorded in the books of accounts have been relied upon, and therefore, such balances are as per the books of accounts of the Company.

2.4 Previous year's figures have been regrouped Rearranged or reclassified wherever considered necessary to make them comparable with the current period.

2.5 The company has not received any information from any of the suppliers of their being Micro Small and Medium Enterprises, hence it is not possible to specify such enterprises to whom the company owed a sum exceeding Rs One Lac for more than 45 days as on the balance sheet date as required by "Micro ,Small and Medium Enterprises Development Act, 2006"

2.6 Employee benefits plan -

(i) Provisons for grtuity has not been made as no employee have completed the qualifying period of service necessary for entitlement of the benefit.This is not as per the compliance of the Accounting Standard-15 issued by ICAI, as the company has not determined the liability as required by revised AS-15 which was mandatory with effect from 01/04/2007. However additional liabilities if any will be provided later on , the quantum of additional liability is at present unascertainable.

(ii) As the company has not separately invested any of its liability of Gratuity in any specific Govt. Bonds/Securities, hence the changes in assets is not there.

(iii) Provisions for Provident fund are applicable to the company, and company has determined its liability to contribute the provident fund as at the year end. Company has deducted contributed to the provident fund scheme as at year end.

(iv) Disclosures as required by revised AS-15 have also not been given in view of notes (i), (ii) & (iii) above.

2.7 The Company is small and medium sized company (SMC) as defined in the General Instruction in respect of Accounting Standards notified under the Act, Accordingly, the Company has complied with the Accounting Standards as applicable to a Small and Medium Sized Company.

Note : -1 Details of repayment of other long-term borrowings and security provided in respect of the secured other long-term borrowings:

a) Term loans from banks :

I) T erms of Repayment & Security- Bank of Baroda

Terms of Repayment: Term loan ( A/c. No. 17380600003096) with current outstanding of Rs 2.03 Crore (previous year: 2.28 Crore) is from Bank of Baroda and the said loan is repayable in 35 equally monthly installments of Rs. 6.30 Lakh each and last installment of Rs. 7.50 Lakh starting after 24 months moratorium from date of 1st disbursement i.e. begining from December, 2023 and carrying interest of 7.5% p.a. (previous year: 7.5 % p.a).

II) Terms of Repayment & Security- Bank of Baroda

Terms of Repayment: Term loan ( A/c. No. 1738060003263) of Rs. 3.00 Crore sanctioned out of which Rs. 1.28 Crore disbured during the year (previous year: 1.72) with current outstanding is Rs. 2,80 crores (Previous year Rs 1.72) from Bank of Baroda and the said loan is repayable in 60 equally monthly installments of Rs. 5.00 Lakhs each starting after 12 months moratorium from date of 1st disbursement i.e. begining from October, 2023 and carrying interest of 9.6% p.a. (previous year: NIL).

III) Terms of Repayment & Security- HDFC Bank

Terms of Repayment: Vehicle Loan ( A/c. No. 114064800) of Rs. 17.31 Lakhs with current outstanding of Rs.6,54,495.65/- (Previous Year Rs. 1007892.96/-) from HDFC Bank is payable in 60 installments of Rs. 35034.00 each starting from 07.12.2020.

Terms of Security: The loan is secured by hypothecation of vehicle (Hyundai Creta) .

I The company does not have any immovable property which is not held in the name of the company.

II The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

III The company has not revalued its Property, Plant and Equipment during the year.

IV The Company have not granted any Loans or Advances to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person.

V The company does not have any Capital Work In Progress (CWIP)

VI The company does not have any Intangible assets under development.

VII The company does not hold any Benami Property .

VIII The company has not been declared wilful defaulter, hence not commented upon.

IX Relationship with Struck off Companies - The company does not have any kind of transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

X Registration of charges or satisfaction with Registrar of Companies

The company does not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

XI Financial Ratios

XII Compliance with approved Scheme(s) of Arrangements

The company did not had any Scheme of Arrangements during the year.

XIII Details of CSR Expenditure

The Provision of CSR is not applicable to the company .

The accompanying note 1 & 2 are an integral part of the financial statements.

As per our report of even date

For, MRCA & Associates For and on behalf of the Board of Directors

Firm Registration No.: 012690C

Chartered Accountants SD/- SD/-

Roshan Jain Ankit Jain

Managing Director CFO

DIN-06381291 DIN-06381280

SD/- SD/- SD/-

. .... , Anekant Jain Pooja Avinash

CA. Aashish Agrawal ,,

Gandhewar

CEO Company Secretary

Partner

Membership No.: 131180 DIN- 06732591

Place : Raipur Date- 15/05/2024 UDIN :