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A Oneindia Venture

Nifty 25,760.50 +2.68%

22k Gold ₹ 13,910 /gm

Sensex 83,848.61 +2.67%

Nifty 25,760.50 +2.68%

22k Gold ₹ 13,910 /gm

Sensex 83,848.61 +2.67%

Nifty 25,760.50 +2.68%

22k Gold ₹ 13,910 /gm

Notes to Accounts of Acutaas Chemicals Ltd.

Mar 31, 2025

1.6 Contingent liabilities and Contingent Assets

A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond
the control of the company or a present obligation that is not
recognised because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent liability
also arises in extremely rare cases where there is a liability that
cannot be recognised because it cannot be measured reliably.
The contingent liability is not recognised in books of account but
its existence is disclosed in financial statements.

Contingent liabilities are disclosed when there is a possible
obligation arising from past events, the existence of which will
be confirmed only by the occurrence or non-occurrence of one
or more uncertain future events not wholly within the control of
the Company or a present obligation that arises from past events
where it is either not probable that an outflow of resources will be
required to settle the obligation or a reliable estimate of the amount
cannot be made.

A contingent asset is a possible asset that arises from past events
and whose existence will be confirmed only by future events not
wholly within the control of the entity.

Contingent assets require disclosure only. If the realisation of
income is virtually certain, the related asset is not a contingent
asset and recognition is require

1.7 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, or when annual impairment testing for an asset is required,
the Company estimates the asset''s recoverable amount. An asset''s
recoverable amount is the higher of an asset''s or cash-generating
unit''s (CGU) fair value less costs of disposal and its value in
use. Recoverable amount is determined for an individual asset.
unless the asset does not generate cash inflows that are largely
independent of those from other assets or Company''s assets. When
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.

A previously recognised impairment loss is further provided or
reversed depending on changes in the circumstances and to the
extent that carrying amount of the assets does not exceed the
carrying amount that will be determined if no impairment loss had
previously been recognised.

1.8 Provisions

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. When the
Company expects some or all of a provision to be reimbursed the
reimbursement is recognised as a separate asset, but only when
the reimbursement is virtually certain. The expense relating to a
provision is presented in the statement of profit and loss net of
any reimbursement.

I f 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.

1.9 a) Property, plant and equipment

Property, plant and equipment are stated at cost net
of accumulated depreciation and where applicable
accumulated impairment losses. Property, plant and
equipment and capital work in progress cost include
expenditure that is directly attributable to the acquisition
of the asset. The cost of self-constructed assets includes the
cost of materials, direct labour and any other costs directly
attributable to bringing the asset to a working condition for
its intended use, and the costs of dismantling and removing
the items and restoring the site on which they are located.
Purchased software that is integral to the functionality of the
related equipment is capitalized as part of that equipment.

When parts of an item of property, plant and equipment have
different useful lives, they are accounted for as separate
items (major components) of property, plant and equipment.

Proper t y, plant and equipment tha t are not ready for
intended use as on the date of Standalone Balance Sheet
are disclosed as ''capital work-in-progress''.

Subsequent Cost

The cost of replacing part of an item of property, plant and
equipment is recognised in the carrying amount of the item
if it is probable that the future economic benefits embodied
within the part will flow to the Company and its cost can
be measured reliably. The carrying amount of the replaced
part is de-recognised and charged to the statement of Profit

and Loss. The costs of the day-to-day servicing of property,
plant and equipment are recognised in the Statement of Profit
and Loss.

b) Intangible assets

Intangible assets are stated at cost less accumulated
amortisation and impairment loss.

The system software which is expected to provide future
enduring benefits is capitalised. The capitalised cost includes
license fees and cost of implementation/system integration.
Computer software cost is amortised over a period of three
years using the straight-line method.

Development expenditure qualifying as an intangible asset,
if any, is capitalised, to be amortised over the economic life
of the product/patent.

Depreciation and amortisation

The charge in respect of periodic depreciation is derived
after determining an estimate of expected useful life and the
expected residual value of the assets at the end of its useful
life. The lives are based on historical experience with similar
assets as well as anticipation of future events, which may
impact their life.

The depreciation on tangible assets is calculated on SLM
method over the estimated useful life of assets prescribed
by the Schedule II to the Companies Act 2013 as follows:

The useful life has been determined based on technical
evaluation done by the Management/experts, which are
different from the useful life prescribed in Part C of Schedule
II of the Act in order to reflect actual use of the assets. The
residual values, useful life and method of depreciation of
property, plant and equipment are reviewed annually and
adjusted prospectively, if appropriate.

The carrying amount of an asset is written down immediately
to its recoverable amount if the carrying amount of the asset
is greater than its estimated recoverable amount.

Land accounted under finance lease is amortised on a
straight-line basis over the primary period of lease.

Derecognition of assets

An item of property plant & equipment and any significant
part initially recognised is derecognised upon disposal or
when no future economic benefits are expected from its use
or disposal. Any gain or loss arising on derecognition of the
asset is included in the statement of profit and loss when the
asset is derecognised.

1.10 Financial instruments
Initial recognition

The company recognise the financial asset and financial liabilities
when it becomes a party to the contractual provisions of the
instruments. All the financial assets and financial liabilities are
recognised at fair value on initial recognition, except for trade
receivable which are initially recognised at transaction price.
Transaction cost that are directly attributable to the acquisition
of financial asset and financial liabilities, that are not at fair
value through profit and loss, are added to the fair value on the
initial recognition.

Subsequent measurement

(A) Non derivative financial instruments

(i) Fin an clal Assets at amortised cost

A financial assets is measured at the amortised cost if
both the following conditions are met :

a) The asset is held within a business model
whose objective is to hold assets for collecting
contractual cash flows, and

b) Contractual terms of the asset give rise on
specified dates to cash flows that are solely
payments of principal and interest (SPPI) on the
principal amount outstanding.

This category is the most relevant to the
Company. All the Loans and other receivables
under financial assets (except Investments) are
non-derivative financial assets with fixed or
determinable payments that are not quoted in
an active market. Trade receivables do not carry
any interest and are stated at their nominal value
as reduced by impairment amount.

(ii) Financial Assets at Fair Value through Profit or
Loss/Other comprehensive income

Instruments included within the FVTPL category are
measured at fair value with all changes recognised in
the Statement of Profit and Loss.

If the company decides to classify an instrument as at
FVTOCI, then all fair value changes on the instrument,
excluding dividends, are recognised in the OCI. There
is no recycling of the amounts from OCI to P&L, even on
sale of investment. However, the company may transfer
the cumulative gain or loss within equity.

(Hi) Financial liabilities

The measurement of financial liabilities depends on
their classification, as described below:

(a) Loans and borrowings

Borrowings are initially recognised at fair value,
net of transaction costs incurred. Borrowings
are subsequently measured at amortised cost.
Any difference between the proceeds (net of
transaction costs) and the redemption amount is
recognised in profit or loss over the period of the
borrowings using the effective interest method.
Fees paid on the establishment of loan facilities
are recognised as transaction costs of the loan
to the extent that it is probable that some or all
of the facility will be drawn down. If not, the fee
is deferred until the draw down occurs.

Borrowings are removed from the Standalone
Balance Sheet when the obligation specified
in the contract is discharged, cancelled or
expired. The difference between the carrying
amount of a financial liability that has been
extinguished or transferred to another party
and the consideration paid, including any nonÂ¬
cash assets transferred or liabilities assumed, is
recognised in profit or loss as other income |
(expense).

Borrowings are classified as current liabilities
unless the Company has an unconditional right
to defer settlement of the liability for at least 12
months after the reporting period.

(b) Trade & other payables

Af ter initial recognition, 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.

(B) Derivative financial instruments

The company holds derivatives financial instruments such as
foreign exchange forward and option contracts to mitigate
the risk of changes in exchange rates on foreign currency
exposures. Company has taken all the forward contract from
the bank.

The company have derivative financial assets/financial
liabilities which are not designated as hedges;

Derivatives not designated are initially recognised at the
fair value and attributable transaction cost are recognised
in statement of profit and loss, when incurred. Subsequent
to initial recognition, these derivatives are measured at
fair value through profit and loss. Asset/Liabilities in this
category are presented as current asset/current liabilities.

Derecognition

A financial liability is derecognised when the obligation
under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another
from the same lender on substantially different terms, or the
terms of an existing liability are substantially modified, such
an exchange or modification is treated as the derecognition
of the original liability and the recognition of a new liability.
The difference in the respective carrying amounts is
recognised in the statement of profit or loss.

1.11 Borrowing costs

Borrowing costs directly attributable to the acquisition, construction
or production of an asset that necessarily takes a substantial period
of time to get ready for its intended use or sale are capitalised as
part of the cost of the asset. All other borrowing costs are expensed
in the period in which they occur. Borrowing costs consist of interest
and other costs that an entity incurs in connection with the borrowing
of funds. Borrowing cost also includes exchange differences to
the extent regarded as an adjustment to the borrowing costs.
Other borrowing costs are expensed in the period in which they
are incurred.

1.12Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at
banks and on hand and short-term deposits which are subject to
an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash
equivalents consist of cash and short-term deposits, as defined
above, as they are considered an integral part of the Company''s
cash management.

1.13Employee Benefits

i) Defined contribution plans (Provident Fund)

In accordance with Indian Law, eligible employees
receive benefits from Provident Fund, which is defined
contribution plan. Both the employee and employer make
monthly contributions to the plan, which is administrated
by the Government authorities, each equal to the specific
percentage of employee''s basic salary. The Company has
no further obligation under the plan beyond its monthly
contributions. Obligation for contributions to the plan is
recognised as an employee benefit expense in the Statement
of Profit and Loss when incurred.

ii) Defined benefit plans (Gratuity)

Gratuity liability is a defined benefit obligation and is
computed on the basis of an actuarial valuation by an
actuary appointed for the purpose as per projected unit
credit method at the end of each financial year. The liability or
asset recognised in the Standalone Balance Sheet in respect
of defined benefit gratuity plans is the present value of the
defined benefit obligation at the end of the reporting period
less the fair value of plan assets. The liability so provided is
paid to a trust administered by the Company, which in turn
invests in eligible securities to meet the liability as and when it
becomes due for payment in future. Any shortfall in the value
of assets over the defined benefit obligation is recognised
as a liability with a corresponding charge to the Standalone
Statement of Profit and Loss.

The present value of the defined benefit obligation is
determined by discounting the estimated future cash outflows
with reference to market yields at the end of the reporting
period on government bonds that have terms approximating
to the terms of the related obligation.

The net interest cost is calculated by applying the discount
rate at the beginning of the period to the net balance of the
defined benefit obligation and the fair value of plan assets.
This cost is included in employee benefit expense in the
Standalone Statement of Profit and Loss.

Remeasurement gains and losses arising from experience
adjustments and changes in actuarial assumptions are
recognised in the period in which they occur directly in
other comprehensive income. They are included in retained
earnings in the Statement of changes in equity and in the
Standalone Balance Sheet.

Changes in the present value of the defined benefit obligation
resulting from plan amendments or curtailments are
recognised immediately in profit or loss as past service cost.

The Company recognises all Remeasurement of net defined
benefit liability/asset directly in other comprehensive income
and presented within equity.

iii) Short term benefits

Short term employee benefit obligations are measured on an
undiscounted basis and are expensed as a related service
provided. A liability is recognised for the amount expected to
be paid under short term cash bonus or profit sharing plans if
the Company has a present legal or constructive obligation
to pay this amount as a result of past service provided by the
employee and the obligation can be estimated reliably.

1.14Lease

The Company assesses whether a contract is, or contains a lease,
at inception of the contract. A contract is, or contains, a lease if the

contract conveys the right to control the use of an identified asset for
a period of time in exchange for consideration. To assess whether
a contract conveys the right to control the use of an identified
asset, the Company assesses whether: i) the contract involves the
use of an identified asset, ii) the Company has substantially all of
the economic benefits from use of the asset through the period of
the lease and iii) the Company has the right to direct the use of
the asset.

At the commencement date of the lease, the Company recognises
a right-of-use asset and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for short-term leases
(leases with a term of twelve months or less), leases of low value
assets and, for contract where the lessee and lessor has the right
to terminate a lease without permission from the other party with
no more than an insignificant penalty. The lease expense of such
short-term leases, low value assets leases and cancellable leases,
are recognised as an operating expense on a straight-line basis
over the term of the lease.

At the commencement date, lease liability is measured at the present
value of the lease payments to be paid during the non-cancellable
period of the contract, discounted using the incremental borrowing
rate. The right-of-use assets is initially recognised at the amount of
the initial measurement of the corresponding lease liability, lease
payments made at or before commencement date less any lease
incentives received and any initial direct costs.

Subsequently, the right-of-use asset is measured at cost less
accumulated depreciation and any impairment losses. Lease
liability is subsequently measured by increasing the carrying
amount to reflect interest on the lease liability (using effective
interest rate method) and reducing the carrying amount to reflect
the lease payments made. The right-of-use asset and lease liability
are also adjusted to reflect any lease modifications or revised inÂ¬
substance fixed lease payments.

1.15Earnings per share

Basic and diluted earnings per share are computed by dividing
the net profit attributable to equity shareholders for the year, by
the weighted average number of equity shares outstanding during
the year.

1.16Research and Development expenditure

Expenditure on research is recognised as an expense when it
is incurred. Expenditure on development which does not meet
the criteria for recognition as an intangible assets is recognised
as an expense when it is incurred. Items of Property, Plant and
Equipment and acquired Intangible assets are used for research
and development are capitalised and depreciated in accordance
with the policies stated for Property, Plant and Equipment and
Intangible assets.

Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by
the Management. This has been relied upon by the auditors.

43 Segment Reporting
Business Segment

In accordance with IND AS 108 "Operating segment" - The Company used to present the segment information identified on the basis of internal
report used by the Company to allocate resources to the segment and assess their performance. The Board of Directors of the Company is
collectively the Chief Operating Decision Maker (CODM) of the Company.

The chief operating decision maker monitors the operating results of its segment separately for the purpose of making decisions about resources
allocation and performance assessment. Segment performance is evaluated on the basis on profit and loss.

The management assessed that cash and cash equivalents, Trade receivable and other financial asset, trade payables and other financial
liabilities approximate their carrying amount largely due to short term maturity of these instruments.

Financial Risk Management - Objectives and Policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate
risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to
reflect changes in market conditions and the Company''s activities.

The Management has overall responsibility for the establishment and oversight of the Company''s risk management framework.

In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

Carrying Amount of Financial Assets and Liabilities:

The following table summaries the carrying amount of financial assets and liabilities recorded at the end of the period by categories:

B. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices.
Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity
risk. Financial instruments affected by market risk include loans and borrowings, deposits and derivative financial instruments.

(a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
interest rates.

Company has interest rate risk exposure mainly from changes in rate of interest on borrowing & on deposit with bank. The interest
rate are disclosed in the respective notes to the financial statements of the Company. The following table analyse the breakdown
of the financial assets and liabilities by type of interest rate:

(b) Foreign Currency Risk

The Company operates internationally and the major portion of business is transacted in USD & EURO. The Company has Sales,
Purchase, (etc.) in foreign currency. Consequently, the Company is exposed to foreign exchange risk.

Foreign exchange exposure is partially balanced by purchasing in goods, commodities and services in the respective currencies.

The company evaluate exchange rate exposure arising from foreign currency transactions and the company follows established risk
management policies, including the use of derivatives like foreign exchange forward contracts to hedge exposure to foreign currency risk.
Foreign currency exposures not specifically covered by natural hedge and forward exchange contracts as at year end are as follows:

C. Credit Risk

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge their obligations in
full or in a timely manner consist principally of cash balances with banks, cash equivalents and receivables, and other financial assets.
The maximum exposure to credit risk is: the total of the fair value of the financial instruments and the full amount of any loan payable
commitment at the end of the reporting year. Credit risk on cash balances with banks is limited because the counterparties are entities with
acceptable credit ratings. Credit risk on other financial assets is limited because the other parties are entities with acceptable credit ratings.

As disclosed in Note 13, cash and cash equivalents balances generally represent short term deposits with a less than 90-day maturity.

D. Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring
unacceptable losses. The Company''s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral
requirements. The Company closely monitors its liquidity position and deploys a robust cash management system. It maintains adequate
sources of financing including debt and overdraft from banks at an optimised cost.

The Company maximum exposure to credit risk for the components of the balance sheet at March 31 2025 and March 31 2024 is the
carrying amounts. The liquidity risk is managed on the basis of expected maturity dates of the financial liabilities. The average credit period
taken to settle trade payables is about 90 days. The other payables are with short-term durations. The carrying amounts are assumed
to be a reasonable approximation of fair value. The following table analysis financial liabilities by remaining contractual maturities:

E. Capital Management

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity
reserves attributable to the equity holders of the parent. The primary objective of the Company''s capital management is to maximise
the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements
of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders,
return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total
capital plus net debt. The Company''s policy is to keep optimum gearing ratio. The Company includes within net debt, interest bearing
loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

47 Compa ny has filled all charges within due dates with ROC.

48 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards
Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on
November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will
assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period
in which, the Code becomes effective and the related rules to determine the financial impact are published.

Nature of CSR activities

Total CSR Contribution during the year is ^19772 Lakhs towards Promotion of Education, Environmental sustainability, health and medical and
Rural Development and sports.

52 Additional regulatory information required by Schedule III

(i) Details of benami property held

No proceedings have been initiated or pending against the company under the Benami Transactions (Prohibition) Act, 1988 (45 of
1988) and the rules made thereunder.

(ii) Willful defaulter

The Company is not declared willful defaulter by any bank or financial Institution or government or any government authority.

(iii) Borrowings secured against current assets

The Company having Working capital loans repayable on demand from banks is unsecured.

(iv) Relationship with struck off companies

The Company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies

Act, 1956.

(v) Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies
(Restriction on number of Layers) Rules, 2017.

(vi) Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial period/
year.

(vii) Utilisation of borrowed funds and share premium

The Company has not advanced or loaned or invested funds (either 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:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company
(Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(viii) Undisclosed income

There is no income surrendered or disclosed as income during the current or previous period/year in the tax assessments under the
Income Tax Act, 1961, that has not been recorded in the books of account.

(ix) Details of crypto currency or virtual currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial period/year.

(x) Valuation of PPE, intangible asset and investment property

The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) or intangible assets or both during the
current or previous year.

(xi) Title deeds of immovable properties not held in name of the company

The title deeds of all the immovable property (other than properties where the Company is the lessee and the lease agreements are duly
executed in favour of the lessee) are held in the name of the company.

(xii) Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction which are yet to be registered with ROC beyond the statutory period.

(xiii) Utilisation of borrowings availed from bank and financial institutions

The Company has NIL outstanding secured borrowings from banks.

53 The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the proviso to Rule 3(1) of the Companies (Accounts)
Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which use accounting software for maintaining its
books of accounts, to use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log
of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
During the year ended March 31 2025, the audit trail feature was enabled both at the application level and data base level in the accounting
software used bythe Company to maintain its books of accounts.

54 Subsequent Events

As of the balance sheet date, there are contracts amounting to ^13,194.46/- lakhs that remain to be executed and have not yet been provided
for. An advance of ^5,167.12/- lakhs has been paid for these contracts.

In the opinion of the management, current assets, loans, advances and deposits are approximately of the value stated, if realised in the ordinary
course of business and are subject to confirmation.

55 Balances in the accounts of Trade Receivables, Loans and Advances, Trade Payables and Other Current Liabilities are subject to confirmation
/ reconciliation, if any. The management does not expect any material adjustment in respect of the same effecting the financial statements on
such reconciliation / adjustments.

The estimates at March 31, 2025 and March 31, 2024 are consistent with those made for the same dates in accordance with Ind As(after
adjustments to reflect any differences in accounting policies).

56 There was no impairment loss on the fixed assets on the basis of review carried out by the management in accordance with Indian Accounting
Standard (Ind AS)-36 ''Impairment of Assets.

The tax rate used for the reconciliation above is the corporate tax rate payable by corporate entities in India on taxable profits under the
Indian tax law.

The Company has elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation
Laws (Amendment) Ordinance, 2019 which gives a one time irreversible option to domestic companies for payment of corporate tax at reduced
rates. Accordingly, the Company has re-measured its deferred tax asset (net) basis the rate prescribed in the said section.

57 The Board in its meeting held on April 16, 2025 has approved the change in name of the Company from "Ami Organics Limited" to "Acutaas
Chemicals Limited" subject to the approval of the shareholders in the ensuing Extra-ordinary General Meeting and the receipt of necessary
approvals of regulatory/statutory authorities. Intimation under Regulation 30 of the SEBI (Listing Obligations & Disclosures Requirement)
Regulations 2015 has been given to BSE and NSE regarding the same.

58 Previous years figure have been regrouped/rearranged wherever necessary, to correspond with the current year classification / disclosures.

59 The balance sheet, statement of profit and loss, cash flow statement, statement of changes in equity, statement of material accounting policies
and the other explanatory notes forms an integral part of the financial statements of the Company for the year ended March 31, 2025.

Signature to Notes "1 to 59"

As per our report of even date attached For and on behalf of Board of Directors of Ami Organics Limited

For Maheshwari & Co.

Chartered Accountants

FRN: 105834W

Sd/- Sd/- Sd/-

Vikas Asawa Nareshkumar R. Patel Chetankumar C. Vaghasia

Partner Chairman & Managing Director Whole Time Director

M.No: 172133 DIN: 00906232 DIN: 01375540

Sd/- Sd/-

Bhavin N. Shah Ekta Kumari Srivastava

Chief Financial Officer Company Secretary

PAN: AXXPS0017M M No: A - 27323

Place: Surat Place: Surat

Date: May 02, 2025 Date: May 02, 2025

Mar 31, 2024

1.8 Provisions

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. When the Company expects some or all of a provision to be reimbursed the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

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.

1.9 a) Property, plant and equipment

Property, plant and equipment are stated at cost net of accumulated depreciation and where applicable accumulated impairment losses. Property, plant and equipment and capital work in progress cost include expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials, direct labour and any other costs directly attributable to bringing the asset to a working condition for its intended use, and the costs of dismantling and removing the items and restoring the site on which they are located. Purchased software that is integral to the functionality of the related equipment is capitalized as part of that equipment.

When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment.

Property, plant and equipment that are not ready for intended use as on the date of Standalone Balance Sheet are disclosed as âcapital work-in-progressâ.

Subsequent Cost

The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is de-recognised and charged to the statement of Profit and Loss. The costs of the day-to-day servicing of property, plant and equipment are recognised in the Statement of Profit and Loss.

b) Intangible assets

Intangible assets are stated at cost less accumulated amortisation and impairment loss. The system software which is expected to provide future enduring benefits is capitalised. The capitalised cost includes license fees and cost of implementation/system integration. Computer software cost is amortised over a period of three years using the straight-line method. Development expenditure qualifying as an intangible asset, if any, is capitalised, to be amortised over the economic life of the product/patent.

Depreciation and amortisation

The charge in respect of periodic depreciation is derived after determining an estimate of expected useful life and the expected residual value of the assets at the end of its useful life. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life.

The depreciation on tangible assets is calculated on SLM method over the estimated useful life of assets prescribed by the Schedule II to the Companies Act 2013 as follows:

The useful life has been determined based on technical evaluation done by the Management/ experts, which are different from the useful life prescribed in Part C of Schedule II of the Act in order to reflect actual use of the assets. The residual values ,useful life and method of depreciation of property, plant and equipment are reviewed annually and adjusted prospectively, if appropriate.

The carrying amount of an asset is written down immediately to its recoverable amount if the carrying amount of the asset is greater than its estimated recoverable amount.

Land accounted under finance lease is amortised on a straight-line basis over the primary period of lease.

Derecognition of assets

An item of property plant & equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset is included in the statement of profit and loss when the asset is derecognised.

1.10 Financial instruments Initial recognition

The company recognise the financial asset and financial liabilities when it becomes a party to the contractual provisions of the instruments. All the financial assets and financial liabilities are recognised at fair value on initial recognition, except for trade receivable which are initially recognised at transaction price. Transaction cost that are directly attributable to the acquisition of financial asset and financial liabilities, that are not at fair value through profit and loss, are added to the fair value on the initial recognition.

Subsequent measurement (A) Non derivative financial instruments

(i) Financial Assets at amortised cost

A financial assets is measured at the amortised cost if both the following conditions are met :

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company. All the Loans and other receivables under financial assets (except Investments) are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Trade receivables do not carry any interest and are stated at their nominal value as reduced by impairment amount.

(ii) Financial Assets at Fair Value through Profit or Loss/Other comprehensive income

Instruments included within the FVTPL category are measured at fair value with all changes recognised in the Statement of Profit and Loss.

If the company decides to classify an instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, the company may transfer the cumulative gain or loss within equity.

(iii) Financial liabilities

The measurement of financial liabilities depends on their classification, as described below:

(a) Loans and borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. If not, the fee is deferred until the draw down occurs.

Borrowings are removed from the Standalone Balance Sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or

liabilities assumed, is recognised in profit or loss as other income | (expense).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period

(b) Trade & other payables

After initial recognition, 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.

(B) Derivative financial instruments

The company holds derivatives financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. Company has taken all the forward contract from the bank.

The company have derivative financial assets/ financial liabilities which are not designated as hedges;

Derivatives not designated are initially recognised at the fair value and attributable transaction cost are recognised in statement of profit and loss, when incurred. Subsequent to initial recognition, these derivatives are measured at fair value through profit and loss. Asset/Liabilities in this category are presented as current asset/current liabilities.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

1.11 Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent

regarded as an adjustment to the borrowing costs. Other borrowing costs are expensed in the period in which they are incurred.

1.12 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, as they are considered an integral part of the Companyâs cash management.

1.13 Employee Benefits

i) Defined contribution plans (Provident Fund)

In accordance with Indian Law, eligible employees receive benefits from Provident Fund, which is defined contribution plan. Both the employee and employer make monthly contributions to the plan, which is administrated by the Government authorities, each equal to the specific percentage of employeeâs basic salary. The Company has no further obligation under the plan beyond its monthly contributions. Obligation for contributions to the plan is recognised as an employee benefit expense in the Statement of Profit and Loss when incurred.

ii) Defined benefit plans (Gratuity)

Gratuity liability is a defined benefit obligation and is computed on the basis of an actuarial valuation by an actuary appointed for the purpose as per projected unit credit method at the end of each financial year. The liability or asset recognised in the Standalone Balance Sheet in respect of defined benefit gratuity plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The liability so provided is paid to a trust administered by the Company, which in turn invests in eligible securities to meet the liability as and when it becomes due for payment in future. Any shortfall in the value of assets over the defined benefit obligation is recognised as a liability with a corresponding charge to the Standalone Statement of Profit and Loss.

The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows with reference to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the related obligation.

The net interest cost is calculated by applying the discount rate at the beginning of the period to the net balance of the defined benefit obligation and the fair

value of plan assets. This cost is included in employee benefit expense in the Standalone Statement of Profit and Loss.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in the period in which they occur directly in other comprehensive income. They are included in retained earnings in the Statement of changes in equity and in the Standalone Balance Sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised immediately in profit or loss as past service cost.

The Company recognises all Remeasurement of net defined benefit liability/asset directly in other comprehensive income and presented within equity.

iii) Short term benefits

Short term employee benefit obligations are measured on an undiscounted basis and are expensed as a related service provided. A liability is recognised for the amount expected to be paid under short term cash bonus or profit sharing plans if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

1.14 Lease

The Company assesses whether a contract is, or contains a lease, at inception of the contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: i) the contract involves the use of an identified asset, ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and iii) the Company has the right to direct the use of the asset.

At the commencement date of the lease, the Company recognises a right-of-use asset and a corresponding lease liability for all lease arrangements in which it is a lessee, except for short-term leases (leases with a term of twelve months or less), leases of low value assets and, for contract where the lessee and lessor has the right to terminate a lease without permission from the other party with no more than an insignificant penalty. The lease expense of such short-term leases, low value assets leases and cancellable leases, are recognised as an operating expense on a straight-line basis over the term of the lease.

At the commencement date, lease liability is measured at the present value of the lease payments to be paid during the non-cancellable period of the contract, discounted using the incremental borrowing rate. The right-of-use assets is initially recognised at the amount of the initial measurement of the corresponding lease liability, lease payments made at or before commencement date less any lease incentives received and any initial direct costs.

Subsequently, the right-of-use asset is measured at cost less accumulated depreciation and any impairment losses. Lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using effective interest rate method) and reducing the carrying amount to reflect the lease payments made. The right-of-use asset and lease liability are also adjusted to reflect any lease modifications or revised insubstance fixed lease payments.

1.15 Earnings per share

Basic and diluted earnings per share are computed by dividing the net profit attributable to equity shareholders for the year, by the weighted average number of equity shares outstanding during the year.

1.16 Research and Development expenditure

Expenditure on research is recognised as an expense when it is incurred. Expenditure on development which does not meet the criteria for recognition as an intangible assets is recognised as an expense when it is incurred. Items of Property, Plant and Equipment and acquired Intangible assets are used for research and development are capitalised and depreciated in accordance with the policies stated for Property, Plant and Equipment and Intangible assets.

18b Employee Stock Option Plan (ESOP)

During the year the Company has introduced share based incentives to eligible employees of the company under "" Employee Stock Option Scheme (""ESOS 2023""). Whereby maximum number of shares under plan shall not exceed 3,64,370 (Three Lakh Sixty Four Thousand Three Hundred and Seventy) equity share. The options would vest on achievement of defined performance parameters as determined by Board/ Nomination and Remuneration committee. The performance parameters are based on operating performance metrics of the company as decided by Board/ Nomination and Remuneration committee. Each of the performance parameters will be distinct for the purpose of calculation of the quantity of the shares to vest based on performance. The instruments generally vests within one years from grant date. Each option carries with a right to purchase one equity share of the Company at exercise price determined by Nomination and Remuneration committee at the time of grant. During the year company granted 30,000/- options to eligible employees.

Company has implemented the Category I Grant under the ESOS 2023 under which 30,000 options were granted at H 100.00/-(face value H 10/- each) based on the recommendation of Nomination and Remuneration Committee with options to be vested from one year of grant date i.e. July 15, 2023.

Fair Value Hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

There have been no transfers among Level 1, Level 2 and Level 3 during the period.

The management assessed that cash and cash equivalents, Trade receivable and other financial asset, trade payables and other financial liabilities approximate their carrying amount largely due to short term maturity of these instruments.

Financial Risk Management - Objectives and Policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Companyâs activities.

The Management has overall responsibility for the establishment and oversight of the Companyâs risk management framework.

In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits and derivative financial instruments.

(a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.

Company has interest rate risk exposure mainly from changes in rate of interest on borrowing & on deposit with bank. The interest rate are disclosed in the respective notes to the financial statements of the Company. The following table analyse the breakdown of the financial assets and liabilities by type of interest rate:

(b) Foreign Currency Risk

The Company operates internationally and the major portion of business is transacted in USD & EURO. The Company has Sales, Purchase, (etc.) in foreign currency. Consequently, the Company is exposed to foreign exchange risk.

Foreign exchange exposure is partially balanced by purchasing in goods, commodities and services in the respective currencies.

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge their obligations in full or in a timely manner consist principally of cash balances with banks, cash equivalents and receivables, and other financial assets. The maximum exposure to credit risk is: the total of the fair value of the financial instruments and the full amount of any loan payable commitment at the end of the reporting year. Credit risk on cash balances with banks is limited because the counterparties are entities with acceptable credit ratings. Credit risk on other financial assets is limited because the other parties are entities with acceptable credit ratings.

As disclosed in Note 13, cash and cash equivalents balances generally represent short term deposits with a less than 90-day maturity.

D. Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses. The Companyâs objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity position and deploys a robust cash management system. It maintains adequate sources of financing including debt and overdraft from banks at an optimised cost.

The Company maximum exposure to credit risk for the components of the balance sheet at 31 March 2024 and 31 March 2023 is the carrying amounts. The liquidity risk is managed on the basis of expected maturity dates of the financial liabilities. The average credit period taken to settle trade payables is about 90 days. The other payables are with short-term durations. The

E. Capital Management

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the parent. The primary objective of the Company''s capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company''s policy is to keep optimum gearing ratio. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

46 Company has filed all charges within due dates with ROC

46a The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

46b Dividends

During the year, the Company has paid a Final dividend of Rs. 3.00 per share in respect of the year ended March 31, 2023 which was proposed by the Board of Directors on May 13, 2023, and was subsequently approved by the shareholders at the Annual General Meeting, held on Sep 25, 2023, which has resulted in a cash outflow of Rs. 1093.11 Lakh. Dividends are declared based on profits available for the distribution.

Nature of CSR activities

Total CSR Contribution during the year is Rs. 183.72 Lakhs towards Promotion of Education, Environmental sustainability, health and medical and Rural Development and sports.

49 Additional regulatory information required by Schedule III

(i) Details of benami property held

No proceedings have been initiated or pending against the company under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(ii) Willful defaulter

The Company is not declared willful defaulter by any bank or financial Institution or government or any government authority

(iii) Borrowings secured against current assets

The Company having Working capital loans repayable on demand from banks is secured by hypothecation of tangible current assets, namely, inventories and book debts of Sachin Facility of the Company and also secured by second and subservient charge on immovable assets (440/4,5538,8206/B , 440/6,440/5 , GIDC, Sachin ) , (Plot no 127/1 Ankleshwar Industrial Area/ Estate) and Movable Assets of Sachin Facility of the Company .

(iv) Relationship with struck off companies

The Company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

49 Additional regulatory information required by Schedule III (Contd..)

(v) Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(vi) Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial period/year.

(vii) Utilisation of borrowed funds and share premium

The Company has not advanced or loaned or invested funds (either 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:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(viii) Undisclosed income

There is no income surrendered or disclosed as income during the current or previous period/year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(ix) Details of crypto currency or virtual currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial period/year

(x) Valuation of PPE, intangible asset and investment property

The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) or intangible assets or both during the current or previous year

(xi) Title deeds of immovable properties not held in name of the company

The title deeds of all the immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the company

(xii) Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction which are yet to be registered with ROC beyond the statutory period.

(xiii) Utilisation of borrowings availed from bank and financial institutions

The Company has outstanding secured borrowings from banks amounting to Rs. 14,386.03/- Lakhs as of the balance sheet date, which have been utilized for which it has been taken.

50 Subsequent Events

As of the balance sheet date, there are contracts amounting to Rs. 13,965.28/- lakhs that remain to be executed and have not yet been provided for. An advance of Rs. 4,473.31/- lakhs has been paid for these contracts.

51 In the opinion of the Management, current assets, loans, advances and deposits are approximately of the value stated, if realised in the ordinary course of business and are subject to confirmation.

52 Balances in the accounts of Trade Receivables, Loans and Advances, Trade Payables and Other Current Liabilities are subject to confirmation / reconciliation, if any. The management does not expect any material adjustment in respect of the same effecting the financial statements on such reconciliation / adjustments.

The estimates at March 31, 2024 and March 31, 2023 are consistent with those made for the same dates in accordance with Ind As(after adjustments to reflect any differences in accounting policies).

53 There wa: no impairment loss on the fixed assets on the basis of review carried out by the management in accordance with Indian Accounting Standard (Ind AS)-36 âImpairment of Assets.

The tax rate used for the reconciliation above is the corporate tax rate payable by corporate entities in India on taxable profits under the Indian tax law.

The Company has elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019 which gives a one time irreversible option to domestic companies for payment of corporate tax at reduced rates. Accordingly, the Company has re-measured its deferred tax asset (net) basis the rate prescribed in the said section.

54 Previous years figure have been regrouped/rearranged wherever necessary, to correspond with the current year classification / disclosures.

55 The balance sheet, statement of profit and loss, cash flow statement, statement of changes in equity, statement of material accounting policies and the other explanatory notes forms an integral part of the financial statements of the Company for the year ended March 31, 2024.

Signature to Notes â1 to 55"

For Maheshwari & Co. For and on behalf of Board of Directors of AMI Organics Limited

Chartered Accountants FRN: 105834W

Vikas Asawa Nareshkumar R. Patel Chetankumar C. Vaghasia

Partner Chairman & Managing Director Whole Time Director

M.No: 172133 DIN: 00906232 DIN: 01375540

Place: Seattle, USA Place: Surat

Bhavin N. Shah Ekta Kumari Srivastava

Chief Financial Officer Company Secretary

PAN: AXXPS0017M M No: A - 27323

Place: Mumbai Place: Surat Place: Surat

Date: May 10, 2024 Date: May 10, 2024

Mar 31, 2023

For Previous Year, The fire took place on 26/02/2021 damaging the companyâs property, plant and equipment and also raw material, packing material and stores and consumables resulting into loss amounting to Rs.1074.93 Lakhs. These assets are fully secured through insurance. The company has initially recognised insurance receivable of Rs.1074.93 Lakhs against such loss and reduced the same to Rs.1045.48 Lakhs after adjusting salvage value of Rs.29.45 Lakhs for left over. Out of which Rs. 762.24 Lakhks has been received from insurance company and balance is provided to profit and loss account under protest.

38 Defined Benefit Plans

The Company has a funded defined benefit gratuity plan. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the memberâs length of service and salary at retirement age. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service as per the provision of the Payment of Gratuity Act, 1972 with total ceiling on gratuity of Rs.2,000,000.

43 Segment Reporting

Business Segment

In accordance with IND AS 108 âOperating segmentâ - The Company used to present the segment information identified on the basis of internal report used by the Company to allocate resources to the segment and assess their performance. The Board of Directors of the Company is collectively the Chief Operating Decision Maker (CODM) of the Company.

The chief operating decision maker monitors the operating results of its segment separately for the purpose of making decisions about resources allocation and performance assessment. Segment performance is evaluated on the basis on profit and loss.