Notes to Accounts of Amines & Plasticizers Ltd.

Mar 31, 2025

k. Provision, Contingent Liabilities &
Contingent Assets

Provisions are recognized when the Company has a
present obligation (legal or constructive), as a result
of past events, for which it is probable that an outflow
of economic benefits will be required to settle the
obligation and a reliable estimate can be made for the
amount of the obligation.

If the effect of the time value of money is material,
provisions are measured on a discounted basis to reflect
its present value using a current pre-tax rate that reflects
the current market assessments of the time value of
money and the risks specific to the obligation. When
discounting is used, the increase in the provision due to
the passage of time is recognised as a finance cost.

A contingent liability is a possible obligation that arise
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 probable that an outflow of resources
will not be required to settle the obligation. However,
if the possibility of outflow of resources, arising out of
present obligation, is remote, it is not even disclosed as
contingent liability. The company does not recognize
a contingent liability but discloses its existence in the
financial assets.

Contingent assets are neither recognized nor disclosed
in the financial statements.

l. Revenue Recognition

The Company manufactures and sells a range of
chemicals and other products.

Revenue from sale of goods is recognized when
significant risks and rewards of ownership are transferred
to the buyer, there is no continuing managerial
involvement with the goods and the amount of
revenue can be measured reliably, which coincides
with the date of dispatch/bill of lading. The Company
retains no effective control of the goods transferred
to a degree usually associated with ownership and no
significant uncertainty exists regarding the amount of
the consideration that will be derived from the sale of
goods.

The Company does not expect to have any contracts
where the period between the transfer of the promised
goods or services to the customer and payment by the
customer exceeds one year. As a consequence, it does
not adjust any of the transaction prices for the time
value of money.

Revenue is measured at fair value of the consideration
received or receivable includes freight, wherever
applicable and is net of trade discounts, volume rebates
and GST.

Export incentives under various schemes are accounted
in the year of export.

Revenue from technical services recognized on the
basis of milestones for rendering services as per the
agreement.

Interest income is recognized on time apportionment
basis. Effective interest rate (EIR) method is used to
compute the interest income on long term loans and
advances. Interest income from a financial asset is
recognised when it is probable that the economic
benefits will flow to the Company and the amount of
income can be measured reliably.

Dividend income on investments is recognised when
the right to receive dividend is established.

m. Employee Benefits

i. Defined Contribution Plans

Contributions to defined contribution schemes such
as employees’ state insurance, labour welfare fund,
superannuation scheme, employee pension scheme
etc. are charged as an expense based on the amount
of contribution required to be made as and when
services are rendered by the employees. Eligible
employees receive benefits from a provident fund,
which is a defined contribution plan to the Trust/
Government administered Trust. Both the employee
and the company make contribution to the Amines
Plasticizers Limited Employees’ provident Fund Trust/
Government administered Trust equal to the specified
percentage of the covered employee’s salary. Company
also contributes to a Government administered pension
fund on behalf of its employees.

ii. Defined Contribution Plans

The Company also provides for retirement benefits in
the form of gratuity and compensated absences to the
employees of the Company.

For defined benefit plans, the amount recognised as
‘Employee benefit expenses’ in the Statement of Profit
and Loss is the cost of accruing employee benefits
promised to employees over the year and the costs of
individual events such as past/future service benefit
changes and settlements (such events are recognised
immediately in the Statement of Profit and Loss). Any
changes in the liabilities over the year due to changes
in actuarial assumptions or experience adjustments
within the plans, are recognised immediately in
‘Other comprehensive income’ and subsequently not
reclassified to the Statement of Profit and Loss.

The defined benefit plan surplus or deficit on the
Balance Sheet comprises the total for each plan of
the fair value of plan assets less the present value of
the defined benefit liabilities (using a discount rate by
reference to market yields on government bonds at the
end of the reporting period).

All defined benefit plans obligations are determined
based on valuations, as at the Balance Sheet date,
made by independent actuary using the projected unit
credit method. The classification of the Company’s net
obligation into current and non-current is as per the
actuarial valuation report.

Liability for balance leave encashment/entitlement
is provided on the basis of actuarial valuation at the
year end.

n. Taxation

Income tax expense for the year comprises of current
tax and deferred tax. It is recognised in the Statement
of Profit and Loss except to the extent it relates to a
business combination or to an item which is recognized
directly in equity or in other comprehensive income.

Current Tax

Current tax is tax expected tax payable on the taxable
income for the year, using the tax rate enacted at the
reporting date, and any adjustment to the tax payable
in respect of the earlier periods. Taxable profit differs
from the net profit as reported in the statement of
profit and loss because it excludes items of income or
expense that are taxable or deductible in other years
and it further excludes items that are never taxable or
deductible.

Current tax assets and current tax liabilities are offset
when there is a legally enforceable right to set off the
recognised amounts and there is an intention to settle
the asset and the liability on a net basis.

Deferred Tax

Deferred tax is recognised in respect of temporary
differences between the carrying amount of assets
and liabilities for financial reporting purposes and the
corresponding amounts used for taxation purposes.

A deferred tax liability is recognised based on the
expected manner of realisation or settlement of the
carrying amount of assets and liabilities, using tax rates
enacted, or substantively enacted, by the end of the
reporting period. Deferred tax assets are recognised only
to the extent that it is probable that future taxable profits
will be available against which the asset can be utilised.
Deferred tax assets are reviewed at each reporting date
and reduced to the extent that it is no longer probable
that the related tax benefit will be realised.

Deferred tax assets and deferred tax liabilities are offset
when there is a legally enforceable right to set off
current tax assets against current tax liabilities; and the
deferred tax assets and the deferred tax liabilities relate
to income taxes levied by the same taxation authority.

MAT credit entitlement is recognized and carried
forward only if there is a reasonable certainty of it being
set off against regular tax payable within the stipulated
statutory period.

o. Earnings Per Share

Basic earnings per share is computed by dividing the
net profit for the year attributable to equity shareholders
of the Company by the weighted-average number
of equity shares outstanding during the year. The
weighted-average number of equity shares outstanding
during the year and for all years presented is adjusted for
events such as bonus issue; bonus element in a rights
issue to existing shareholders; share split; and reverse
share split (consolidation of shares) that have changed
the number of equity shares outstanding, without a
corresponding change in resources.

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.

p. Foreign Currency Transactions and
Translation

The financial statements are presented in Indian
Rupees (INR), which is the functional currency of
the Company and the presentation currency for the
financial statements.

Transactions in foreign currencies are recognized at
the prevailing exchange rates on the transaction dates.
Realized gains and losses on settlement of foreign
currency transactions are recognized in the Statement
of Profit and Loss.

Foreign currency monetary items (assets and liabilities)
at the year- end are translated at the year-end exchange
rates and the resultant exchange differences are
recognized in the Statement of Profit and Loss.

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).

Note:

The Authorized Share Capital of the Company stands increased after adding the Authorized Share Capital of APL
Engineering Services Pvt Ltd (wholly owned subsidiary Company, which now stands amalgamated) with the
Company pursuant to the Order of Amalgamation dated 22^nd March 2017 passed by the Hon. National Company
Law Tribunal, Guwahati Bench, Assam.

13.1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of A 2 per share. Each Shareholder is entitled
to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to
receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such
preferential amount exists currently. The distribution will be in proportion to the number of equity shares held by
the shareholders.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring
Annual General Meeting, The Board of Directors at their Meeting held on May 27, 2025 has recommended a final
Dividend of 25% (50 paise per share of Face Value A 2/- each) for the year ended March 31, 2025.

Note 1: During the year 2022-23 GST Department disallowed Input Credit of GST claimed by the company on
procurement of Goods and services from few suppliers, which in the opinion of the Company (based on legal
advice) is allowable. The Company paid A 2,533.56 Lakhs under protest and filed refund application and litigating
the matter before the Honorable Bombay High Court.

Note 2: The Hon''ble CIT (A) vide its order dated 28-01-2025 for Appeals of Assessment year 2013-14 to 2015¬
16 has set aside the Aseessment Orders and remanded the matter back to file of the assessing officer for fresh
adjudication of the matter so that the original assessments are no more valid orders, the consequential demand
raised for these assessment years A 571.21 Lakhs are stands cancelled automatically and no more payable.

34 RELATED PARTY DISCLOSURES
A List of Related Parties

i) Party where control exists: Subsidiaries

Amines & Plasticizers FZ LLC (WOS UAE)

ii) Other Related parties with whom the
company has entered into transactions during
the year

a) Member having significant influence over the
Company

Multiwyn Investments & Holdings Private Limited

b) Key Management Personnel (including non
Executive Directors)

Mr. Hemant Kumar Ruia - Chairman & Managing
Director

Mr. Yashvardhan Ruia -Executive Director

Dr. P. H. Vaidya - Non Executive & Independent Director

- ceased to be Director w.e.f. 28.09.2024 due to
completion of his second term of five (5) consecutive
years

Mr. A. S. Nagar - Non Executive & Independent Director

- ceased to be Director w.e.f. 28.09.2024 due to
completion of his second term of five (5) consecutive
years

Mr. B. M. Jindel - Non Executive & Independent Director

- ceased to be Director w.e.f. 28.09.2024 due to
completion of his second term of five (5) consecutive
years

Ms. Nimisha Dutia - Non Executive Director & Non
Independent Director

Mr. Pragyan Pittie -Non Executive & Independent
Director - Appointed for a first term of five (5)
consecutive years w.e.f. 27.09.2024

Mrs. Dhanyashree Jadeja -Non Executive &
Independent Director - Appointed for a first term of
five (5) consecutive years w.e.f. 27.09.2024

Mr. Nikunj Seksaria -Non Executive & Independent
Director - Appointed for a first term of five (5)
consecutive years w.e.f. 27.09.2024

Mr. Ajay Puranik - President Legal & Company
Secretary - Resigned w.e.f. 30.04.2024

Mr. Omkar Mhamunkar - Company Secretary &
Compliance Officer - Appointed w.e.f. 08.08.2024

Mr. Pramod Sharma - Chief Financial Officer

c) Employee'' benefits plan where there is
significant influence

Amines & Plasticizers Limited Employee''s Gratuity
Fund

Amines & Plasticizers Limited Employee''s Provident
Fund

d) Entities over which any person described in (b)
above is able to exercise significant influence

Chefair Investment Pvt. Ltd.

Ruia Gases Private Limited

SMT. Bhagirathibai Manmal Gochar Trust

APL Infotech Limited (from 04.03.2020)

JADEJA & SATIYA (Advocate Firm)

ii. Leave Encashment

The Company permits encashment of compensated absence accumulated by their employees on retirement,
separation and during the course of service. The liability in respect of the Company, for outstanding balance of leave
at the balance sheet date is determined and provided on the basis of actuarial valuation as at the balance sheet
date performed by an independent actuary. The Company doesn’t maintain any plan assets to fund its obligation
towards leave encashment. Leave encashment for the year is P 46.63 lakhs (Previous year P 59.43 lakhs) charged
to the statement of profit and loss.

37 The NCLT Guwahati Bench vide its Order dated March 22, 2017 has sanctioned the Scheme of Amalgamation
of APL Engineering Services Pvt. Ltd. wholly owned Subsidiary of the Company with the Appointed date April 01,
2016.

40 CAPITAL RISK MANAGEMENT

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns
to shareholders through the optimisation of the debt and equity balance.The capital structure of the Company
consists of net debt (borrowings less cash and cash equivalents, other bank balances (including non-current
earmarked balances)).The management and the Board of Directors monitors the return on capital to shareholders.
The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

41 FINANCIAL INSTRUMENTS AND RISK REVIEW
Financial Risks Management Framework

The Company’s business activities are exposed to a variety of financial risks, namely Liquidity Risk, Currency
Exchange Risk, Interest Rate Risk, Credit Risk and Commodity Price Risk. The Company’s management and the
Board of Directors has the overall responsibility for establishing and governing the Company’s risk management
framework. The risk management framework works at various levels in the enterprise. The organization structure of
the Company helps in identifying, preventing and mitigating risks by the concerned operational Heads under the
supervision of the Chairman & Managing Director. The risk management framework is reviewed periodically by the
Board and the Audit Committee keeping a check on overall effectiveness of the risk management of the Company.

Credit Risk

Credit Risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual
obligations. Financial instruments that are subject to credit risk principally consist of trade receivables, investments,
loans, cash and cash equivalents, other balances with banks and other financial assets. None of the financial
instruments of the Company result in material credit risk.

Credit risk with respect to trade receivables are limited, due to the Company has a policy of dealing only with credit
worthy counter parties, where appropriate as a means of mitigating the risk of financial loss from defaults. All
trade receivables are reviewed and assessed for default on a quarterly basis. Our historical experience of collecting
receivables is that credit risk is low. Hence, trade receivables are considered to be a single class of financial assets.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on
historical trend, industry practices and the business environment in which the entity operates. Loss rates are based
on actual credit loss experience and past trends. based on the historical data, loss on collection of receivables is not
material hence no additional provision considered.

43 EVENTS AFTER THE REPORTING
PERIOD

The Board of Directors have recommended dividend
of R 0.50 per fully paid up equity share of R 2/- each,
aggregating R 275.10 Lakhs for the financial year
2024-25, subject to approval of shareholders at the
Annual General Meeting.

44 INVESTMENT IN RADIANCE MH
SUNRISE SIX PVT LTD (SPV)

The Management in its constant endeavour to reduce
power cost and to explore sources of alternate energy
had identified one proposal of investing in Solar power
producing companies. Accordingly, The Company
had invested in RMHSSPL, one such company which
is engaged in the production of alternate energy and
supplying the same to MSDCL which in turn supply the
power to Investing company at an agreed concessional
rates. This arrangement is facilitated by the State Govt
and one of the terms of Venture is that the Recipient
of power must invest min 26% equity in the power
producing company(SPV) to avail this benefit of power
at reduced rate. The Company has therefore acquired
26% equity stake in Radiance MH Sunrise Six Pvt
Ltd (SPV) pursuant to a Statutory State Government
mandate for forming/investing in such a Special
Purpose Vehicle. The Company neither has significant
influence over this company nor any participative rights
in the Management of the said Company. In aedition
profit/loss of the said SPV is insignificant and does not in
any way impact the financials of the Company. In view
thereof, Radiance MH Sunrise Six Pvt Ltd had not been
considered as an associate company for consolidation
purpose as it is a pure investment activity in the said
Company to obtain Power at a concessional rate.

45 OTHER STATUTORY INFORMATION:

(i) The company does not have any Benami property,
where any proceeding has been initiated or
pending against the Company for holding any
Benami property.

(ii) The company does not have any transactions with
companies struck off.

(iii) The company does not have any changes or
satisfaction which is yet to be registred with ROC
beyond the statutory period.

(iv) The company have not traded or invested in
Crypto currency or Virtual currency during the
financial year.

(v) The Company has not been declared wilful defaulter
by any bank of financial institution or government
or any government authority.

46 The Code on Social Security, 2020 (''Code'') relating
to employee benefits during employment and post¬
employment benefits has been notified in the Official
Gazette of India on September 29, 2020. However, it
has not yet become effective and related rules are yet
to be notified. 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.

47 Finance cost for the year ended March 31,
2024 includes R 81.83 lakhs being interest charged
pertaining to the GST demand for financial year 2017¬
18 and 2018-19 on reassessment of Bills of entry in
respect of import under Advance licenses. However,
during the year, Custom department has raised
demand (including penalty and redemption fine) of
R 799.78 lakhs on the aforesaid matter for which the
Company has preferred an appeal before the Customs,
Excise and Service Tax Appellate Tribunal which is
pending. Accordingly, no provision as well as disclosure
of contingent liability is required in the financial
statements.

48 The Financial Statements were approved for issue
by the Board of Directors on 27th May 2025.

49 The Company uses an accounting software for
maintaining its books of account which has a feature
of recording audit trail (edit log) facility and the same
has operated throughout the year for all relevant
transactions recorded in the accounting software,
except that audit trail feature is not enabled at the
database level for the Tally Prime database. Further no
instance of audit trail feature being tampered with was
noted in respect of the accounting software. Presently,
the log has been activated at the application level.

50 Figures of previous year have been regrouped/
rearranged, wherever considered necessary to conform
to the current year''s presentation.

Signatories to Notes 1 to 50

For S A R A & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No.: 120927W

Manoj Agarwal Hemant Kumar Ruia Yashvardhan Ruia

Partner Chairman & Managing Director Executive Director

Membership No. 119509 DIN: 00029410 DIN: 00364888

Date: 27^th May, 2025 Pramod Sharma Omkar Mhamunkar

Place: Mumbai Chief Financial Officer Company Secretary

---

Mar 31, 2024

k. Provision,ContingentLiabilities&Contingent Assets

Provisions are recognized when the Company has a present obligation (legal or constructive),as a result of past events,for which it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimatecan be made for the amountof the obligation.

If the effect of the time value of money is material, provisions are measured on a discounted basis to reflect its present value using a current pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation.When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

A contingent liability is a possible obligation that arise 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 probable that an outflow of resources will not be required to settle the obligation.However,if the possibility of outflow of

resources,arising out of present obligation, is remote,it is not even disclosed as contingent liability.The company does not recognize a contingent liability but disclosesits existence in the financial assets.

Contingent assets are neither recognized nor disclosed in thefinancial statements.

l. RevenueRecognition

TheCompany manufactures and sells arangeofchemicals and otherproducts.

Revenue from sale of goods is recognized when significant risks and rewards of ownership are transferred to the buyer, there is no continuing managerial involvement with the goods and the amount of revenue can be measured reliably, which coincides with the date of dispatch/bill of lading. The Company retains no effective control of the goods transferred to a degree usually associated with ownership and no significant uncertainty exists regarding the amount of the consideration that will be derived from the sale of goods.

The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence,it does not adjust any ofthetransaction pricesfor the time value of money.

Revenue is measured at fair value of the consideration received or receivable includes freight,wherever applicableand is net oftradediscounts,volumerebatesand GST.

Export incentives under various schemes are accounted in the year ofexport.

Revenue from technical services recognized on the basis of milestones for rendering services as per the agreement.

Interest income is recognized on time apportionment basis. Effective interest rate (EIR) method is used to compute the interest income on longterm loans and advances.Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of income can bemeasured reliably.

Dividend income on investments is recognised when the rightto receive dividend is established.

m. Employee Benefits

i. Defined ContributionPlans

Contributions to defined contribution schemes such asemployees''state insurance,labour welfare fund, superannuation scheme, employee pension scheme etc. are charged as an expense based on the amount of contribution required to be made as and when services are rendered by the employees. Eligible employees receive benefits from a provident fund, which is a defined contribution plan to the Trust/Government administered Trust. Both the employee and the company make contribution to the Amines Plasticizers Limited Employees''provident FundTrust/Government administeredTrust equal to the specified percentage of the covered employee''s salary.Company also contributes to a Government administered pension fund on behalfof its employees.

ii. Defined ContributionPlans

The Company also provides for retirement benefits in the form of gratuity and compensated absences to the employees Company.

For defined benefit plans, the amount recognised as ''Employee benefit expenses'' in the Statement of Profit and Loss is the cost of accruing employee benefits promised to employees over the year and the costs of individual events such as past / future service benefit changes and settlements (such events are recognised immediately in the Statement of Profit and Loss).Any changes in the liabilities over the year due to changes in actuarial assumptions or experience adjustments within the plans, are recognised immediately in ''Other comprehensive income''and subsequently not reclassified to the Statement of Profit and Loss.

The defined benefit plan surplus or deficit on the Balance Sheet comprises the total for each plan of the fair value of plan assets less the present value of the defined benefit liabilities (using a discount rate by reference to market yields on government bonds at the end ofthe reporting period)

All defined benefit plans obligations are determined based on valuations,as at the Balance Sheet date, made by independent actuary using the projected unit credit method. The classification of the Company''s net obligation into currentand non-current is as per the actuarial valuation report.

Liability for balance leave encashment / entitlement is provided on the basis of actuarial valuation at the year end.

n. Taxation

Income tax expense for the year comprises of current tax and deferred tax. It is recognised in the Statement of Profit and Loss except to theextent it relates to a business combination or to an item which is recognized directlyin equity or in other comprehensive income.

CurrentTax

Current tax is tax expected tax payable on the taxable income for the year,using the tax rate enacted at the reporting date,and any adjustment to the tax payable in respect ofthe earlier periods.Taxable profit differs from the net profit as reported in the statement of profit and loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amountsand there is an intention to settle the asset and theliability on a net basis.

DeferredTax

Deferred tax is recognised in respect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the corresponding amounts used for taxation purposes.

A deferred tax liability is recognised based on the expected manner of realisation or settlement ofthe carrying amount of assets and liabilities, using tax rates enacted,or substantively enacted,by the end of the reporting period.Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised.Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that the related tax benefit will be realised.

Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities; and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority.

MAT credit entitlement is recognized and carried forward only if there is a reasonable certainty of it being set off against regular tax payable within thestipulated statutoryperiod.

o. Earnings PerShare

Basic Basic earnings per share is computed by dividing the net profit for the year attributable to equity shareholders of the Company by the weighted-average number of equity shares outstanding during theyear.The weighted-average number of equity shares outstanding during the year and for all years presented is adjusted for events such as bonus issue; bonus element in a rights issue to existing shareholders; share split; and reverse share split (consolidation of shares) that have changed the numberofequitysharesoutstanding,withoutacorrespondingchangein resources.

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.

p. Foreign CurrencyTransactionsandTranslation

The financial statements are presented in Indian Rupees (INR), which is the functional currency of the Company and thepresentation currency for the financial statements.

Transactions in foreign currencies are recognized at the prevailing exchange rates on the transaction dates. Realized gains and losses on settlement of foreign currency transactions are recognized in the Statement of Profit and Loss.

Foreign currency monetary items (assets and liabilities) at the year- end are translated at the year-end exchange rates and the resultant exchange differences are recognized in the Statement of Profit and Loss.

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).

q. Recent pronouncements

There is no such notification applicable from April 1,2024.

The Company''s business activities are exposed to a variety of financial risks, namely Liquidity Risk, Currency Exchange Risk, Interest Rate Risk, Credit Risk and Commodity Price Risk.The Company''s management and the Board of Directors has the overall responsibility for establishing and governing the Company''s risk management framework.The risk management framework works at various levels in the enterprise. The organization structure of the Company helps in identifying, preventing and mitigating risks by the concerned operational Heads under the supervision of the Chairman & Managing Director.The risk management framework is reviewed periodically by the Board and the Audit Committee keeping a check on overall effectivenessoftheriskmanagementoftheCompany.

CreditRisk

Credit Risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations. Financial instruments that are subject to credit risk principally consist of trade receivables,investments, loans,cash and cash equivalents,other balances with banks and other financial assets.None of the financial instruments of the Company result in materialcreditrisk.

Credit risk with respect to trade receivables are limited,due to the Company has a policy of dealing only with credit worthy counter parties,where appropriate as a means of mitigating the risk of financial loss from defaults.All trade receivables are reviewed and assessed for default on a quarterly basis.Our historical experience of collecting receivables is that credit risk is low.Hence,trade receivablesare considered to be a single class offinancialassets.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on historical trend,industry practices and the business environment inwhich the entity operates.Loss rates are based on actual credit loss experience and past trends.based on the historical data,loss on collection of receivables is not material hence no additional provision considered.

The fair value of financial instruments as below have been classified into three categories depending on the inputs used in the valuation technique.The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows

Level 1: Quoted prices (unadjusted) in active markets for identical assets orliabilities;

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability,either directly or indirectly.

Level 3: Inputs which are not based on observablemarketdata

* Excludes financial assets measured at Cost Valuation

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptionsused to estimate the fair values are consistent.

Financial assets and liabilities measured at fair value as at Balance Sheet date :

The fair value of investment in quoted Equity Shares is measured at quoted price.

The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

43 EventsaftertheReportingPeriod

The Board of Directors have recommended dividend of '' 0.50 per fully paid up equity share of '' 2/- each, aggregating 275.10 Lacs for the financial year 2023-24, subject to approval of shareholders at the Annual General Meeting.

44 Investment in RadianceMH Sunrise Six Pvt Ltd (SPV)

The Management in its constant endeavour to reduce power cost and to explore sources of alternate energy had identified one proposal of investing in Solar power producing companies. Accordingly, The Company had invested in RMHSSPL, one such company which is engaged in the production of alternate energy and supplying the same to MSDCL which in turn supply the power to Investing company at an agreed concessional rates.This arrangement is facilitated by the State Govt and one of the terms of Venture is that the Recipient of power must invest min 26% equity in the power producing company( SPV) to avail this benefit of power at reduced rate.The Company has therefore acquired 26% equity stake in Radiance MH Sunrise Six Pvt Ltd (SPV) pursuant to a Statutory State Government mandate for forming / investing in such a Special Purpose Vehicle.The Company neither has significant influence over this company nor any participative rights in the Management of the said Company. In aedition profit/ loss of the said SPV is insignificant and does not in anyway impact the financials of the Company. In view thereof, Radiance MH Sunrise Six Pvt Ltd had not been considered as an associate company for consolidation purpose as it is a pure investment activity in the said Company to obtain Power at a concessional rate.

45 OtherStatutoryInformation:

(i) The company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The company does not have any transactions with companies struck off.

(iii) The company does not have any changes or satisfaction which is yet to be registred with ROC beyond the statutory period.

(iv) The company have not traded or invested in Crypto currency or Virtual currency during the financial year.

(v) The Company has not been declared wilful defaulter by any bank of financial institution or government or any government authorty.

46 The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and postemployment benefits has been notified in the Official Gazette of India on September 29, 2020. However, it has not yet become effective and related rules are yet to be notified. 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,theCode becomes effective and the related rules to determine the financial impact are published.

47 The Financial Statements were approved for issue by the Board of Directors on 28^th May 2024.

48 The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting software, except that audit trail feature is not enabled at the database level for the Tally Prime database.Further no instance of audit trail feature being tampered with was noted in respect of the accounting software.Presently,the log has been activated atthe application level.

49 Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the currentyear''s presentation.

In terms of our report of even date attached For and on behalf of the Board of Directors

For S A R A & Associates

Chartered Accountants

^{Firm Registration N}°-^{: 120927W} Hemant Kumar Ruia Yashvardhan Ruia

Chairman & Managing Director Executive Director

^{Manoj Agarwal} din :00029410 DIN :00364888

Partner

Membership No- 119509

Date : 28^th May, 2024 Pramod Sharma

Place : Mumbai Chief Financial Officer

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Mar 31, 2023

LONG TERM BORROWINGS - NATURE OF SECURITY & TERMS OF REPAYMENT

Loan from banks carry interest ranging from 2.9% to 12.45% p.a. and are secured by way of hypothecation of Plant & Machinery & Equitable Registered Mortgage on some of the company''s immovable property and personal guarantees of promoter Directors.

Default in terms of repayment of principle and interest-NIL

The Company has used the borrowings taken from banks and financial institution for the specific purposes for which they were taken as at the balance sheet date

The Company has registered all the required charges with Registrar of Companies within the statutory period.

Company has made no default in making repayment of borrowings

The major term loan has been availed for financing of Dhule and Badlapur plant.

The term loan is secured by pari passu charge on the land & building and hypothecation of all the present & future immovable fixed assets and intangible assets pertaining to Dhule and Badlapur plant

NOTE 33 : NOTE ON MICRO SMALL OR MEDIUM ENTERPRISES

(a) the principal amount and the interest due thereon remaining unpaid to any supplier at the end of each accounting year. 247.19 lakh ( Previous Yr 281.60 Lakh )

(b) the amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), along with the amount of the payment made to the supplier beyond the appointed day during each accounting year; NIL ( Previous Year NIL)

(c) the amount of interest due and payable for the period of delay in making payment (which has been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006; NIL (Previous year NIL)

(d) the amount of interest accrued and remaining unpaid at the end of each accounting year:NIL (Previous Year NIL)

(e) the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006.NIL ( Previous Year NIL)

The above table represent total exposure of the company towards foreign exchange denominated liabilities (Net) the companies policy is to hedge its exposure above pre defined threseholds from recognised liabilities and firm commitment. The company does not enter into any derivative instrument for trading or speculation purposes.

The company is mainly exposed to changes in USD.The below table demonstrates the sensitivity to a 5% increase or decrease in the USD against INR with all other variables held constant. The sensitivity anylisis ie prepared on the net unhedged exposure of the company as at the reporting date. 5% represents management''s assessments of reasonably possible change in foreign exchange rate.

NOTE 43:- A. EMPLOYEE BENEFITS AS PER IND AS 19:-

The Company has classified various employee benefits as under

a) Provident Fundb) Defined Contribution Plans

The Provident Fund and the State Defined Contribution Plans are operated by the Regional Provident Fund Commissioner.Under the schemes, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit schemes to fund the benefits. These funds are recognised by the Income Tax Authorities.

c) Defined benefit gratuity plan (Funded)

The Company has defined benefit gratuity plan for its employees, which requires contributions to be made to a separately administered fund. It 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 member''s length of service and salary at retirement age. Such Gratuity Fund is administered by the LIC of India.

Aforesaid post-employment benefit plans typically expose the Company to actuarial risks such as: investment risk,interest rate risk, longevity risk and salary risk.

A. Investment Risk: These Plans invest in long term debt instruments such as Government securities and highly rated corporate bonds. The valuation of which is inversely proportionate to the interest rate movements. There is risk of volatility in asset values due to market fluctuations and impairment of assets due to credit losses.

B. Interest Risk : The present value of the defined benefit liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on Government securities. A decrease in yields will increase the fund liabilities and vice-versa.

C. Salary Escalation Rate: The present value of the defined benefit liability is calculated by reference to the future salaries of plan participants. As such, an increase in salary of the plan participants will increase the plan''s liability.

D. Longevity Risk: The present value of the defined benefit liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s liability.

Quarterly statements of current assets filed by the company with banks are in agreement with the books of accounts.

x) Company is not declared wilful defaulter by any bank or financial institution or other lender.

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

xii) No charge or satisfaction of charge is yet to be registered with ROC beyond the statutory period.

Note:

1) Earning for Debts Service : Net profit after tax Non cash operating Expenses lioke Depreciation interest /- Other adjustment like Profit /(loss) on sales of asset.

2) Debt Service: Interest Payment Principle Payments.

3) Working Capital : Current Asset -Current Liabilities.

4) Capital Employed : Tangible Networth Total Debts Deferred Tax Liabilities.

xv) No scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during financial year 2022-23

(xvi) Utilisation of Borrowed funds and share premium

a) 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 (i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

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

NOTE 51:

The Board has approved revised draft scheme of Amalgamation of M/s Pious Engineering Private Limited with the company at its meeting held on April 3, 2023, considering appointed date of Amalgamation as January 1 2023. The scheme will be implemented after a sanction by National Company Law Tribunal (NCLT).

NOTE 52:

Capital commitments (Net of Advances) Rs 206.81 lakhs. (P Yr. 158.64 lakhs)

NOTE 53:

Previous years figures are regrouped/rearranged wherever necessary, to conform to the layout of accounts of current year.

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Mar 31, 2018

Note : 1 COMPANY INFORMATION

Amines & Plasticizers Limited (the ‘Company’) is a public limited Company incorporated in India in the year 1973 having its registered office located at Poal & Enclave c/o Pranati Builders Private Ltd, Principal J. B. Road, Chenikuthi Guwahati-781003 and corporate office located at 6th Floor, ‘D’ Building, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018. The Company is listed on the Bombay Stock Exchange (BSE).

The Company manufactures over 50 different varieties of organic chemicals / amines/ solvents / fertilizers. The main products manufactured are Methyl Diethonalamine (MDEA) and N Methyl Morpholine Oxide (NMMO) which are used in Petrochemicals and Oil refineries, Gas plants and Textiles. The Company has manufacturing facilities at Navi Mumbai and sells its products in Indian Market and is regularly exporting to various countries.

Note :

The Authorized Share Capital of the Company stands increased after adding the Authorized Share Capital of APL Engineering Services Pvt Ltd (wholly owned subsidiary Company, which now stands amalgamated) with the Company pursuant to the Order of Amalgamation dated 22nd March 2017 passed by the Hon. National Company Law Tribunal, Guwahati Bench, Assam.

2.1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of Rs.2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual General Meeting, except in case of interim dividend. The Board of Directors at their Meeting held on May 30, 2018 has recommended a final Dividend of 15% (30 paise per share of Face Value Rs.2/- each) for the year ended March 31, 2018.

* Note :

(i) 1335 13% Non Convertible Debentures of Rs.1 Lac each have been issued which are redeemable at par at the end of 10 years from date of allotment, viz 24-03-2025 for Rs.740.00 lakhs & 31-03-2025 for Rs.595.00 lakhs. The company has an option to redeem these debenture earlier; however, no redemption will take place before the end of 1st year.

(ii) The above debentures holders shall get pari passu charge on assets allocated at Land & Building of the company at Survey No 49, Village Vadval, Taluka Khopoli, Dist. Raigad, Maharashtra.

* Note :

The above information regarding dues to Micro & Small Enterprises has been determined to the extent such parties have been identified on basis of information collected with the Company. This has been relied upon by the auditor.

3.1 Trade Payable include Rs.173.70 lakhs ( Rs.257.89 lakhs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

4 Leases

a) The Company has taken certain equipments and office premises under operating lease or on rental basis. This contract is not non-cancellable and a period ranging between 11 months and above and are renewable at the mutual consent on mutually agreeable terms. The rent/lease charges paid in accordance with this agreement is debited to the statement of profit and loss for the year.

b) The Company has given its equipments and office premises under operating lease or on leave and licence basis. These agreements are generally not non-cancellable and for a period ranging between 11 months and above and are renewable at mutual consent on mutually agreeable terms. The company has taken refundable interest free security deposits in accordance with the agreed terms. The rent received in accordance with these agreements is credited to the statement of profit and loss for the year.

5 Disclosure in Respect of Related Parties pursuant to INDAS-24 “Related Party Disclosures”, are given below :

A List of Related Parties

i) Party where control exists: Subsidiaries

APL Infotech Limited

ii) Other Related parties with whom the company has entered into transactions during the year

a) Member having significant influence over the Company

Multiwyn Investments & Holdings Private Limited

b) Key Management Personnel (including non Executive Directors)

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Mr. Yashvardhan Ruia -Executive Director

c) Employee’ benfitis plan where there is significant influence Amines & Plasticizers Limited Employee’s Gratuity Fund

Amines & Plasticizers Limited Employee’s Providend Fund

d) Entities over which any person described in (b) above is able to exercise significant influence

Chefair Investment Pvt. Ltd.

Ruia Gases Private Limited

* Note :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

The define benefit plans expose to the Company to a number of acturial risk

a) Investment Risk : The present value of the defined benefit plan liability is calculated using a discount rate determined by reference to government/high quality bond yields; if the return on plan asset is below this rate, it will create a plan deficit.

b) Interest Risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan’s debt investments.

c) Salary Risk : The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan’s liability.

d) Longevity Risk : The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.

Sensitivity analysis of 1% change in assumption used

Significant Actuarial Assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and employee turnover. The sensitivity analysis below, have been determined based on reasonable possible changes of the assumptions occurring at end of the reporting period , while holding all other assumptions constant. The result of Sensitivity analysis is given below :

6 The NCLT Guwahati Bench vide its Order dated March 22, 2017 has sanctioned the Scheme of Amalgamation of APL Engineering Services Pvt. Ltd. wholly owned Subsidiary of the Company with the Appointed date April 01, 2016. Accordingly, the Financial Statements of the Company as on April 01, 2016 include the effects of the Scheme and hence not comparable with the figures of 31st March, 2016.

7 The Company’s main business is Chemical manufacturing falls within a single business segment and therefore, segment reporting in terms Ind AS-108 “Operating Segments” is not applicable.

8 Capital Management

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders through the optimisation of the debt and equity balance. The capital structure of the Company consists of net debt (borrowings less cash and cash equivalents, other bank balances (including noncurrent earmarked balances)).The management and the Board of Directors monitors the return on capital to shareholders. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

9 Financial Instruments and Risk Review Financial Risks Management Framework

The Company’s business activities are exposed to a variety of financial risks, namely Liquidity Risk, Currency Exchange Risk, Interest Rate Risk, Credit Risk and Commodity Price Risk. The Company’s management and the Board of Directors has the overall responsibility for establishing and governing the Company’s risk management framework. The risk management framework works at various levels in the enterprise. The organization structure of the Company helps in identifying, preventing and mitigating risks by the concerned operational Heads under the supervision of the Chairman & Managing Director. The risk management framework is reviewed periodically by the Board and the Audit Committee keeping a check on overall effectiveness of the risk management of the Company.

Credit Risk

Credit Risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations. Financial instruments that are subject to credit risk principally consist of trade receivables, investments, loans, cash and cash equivalents, other balances with banks and other financial assets. None of the financial instruments of the Company result in material credit risk.

Credit risk with respect to trade receivables are limited, due to the Company has a policy of dealing only with credit worthy counter parties, where appropriate as a means of mitigating the risk of financial loss from defaults. All trade receivables are reviewed and assessed for default on a quarterly basis. Our historical experience of collecting receivables is that credit risk is low. Hence, trade receivables are considered to be a single class of financial assets. Credit risk on cash and cash equivalents, other bank balances with bank are insignificant as the Company generally invest in deposits with banks. Investments primarily investments in government securities.

The Company’s maximum exposure to credit risk as at 31st March, 2018, 2017 and 1st April, 2016 is the carrying value of each class of financial assets.

Foreign Currency Risk

The Company is subject to the risk that changes in foreign currency values impact the Company’s exports revenue and imports of raw material and property, plant and equipment. As at 31st March, 2018, the net unhedged exposure to the Company on holding assets (trade receivables and capital advances) and liabilities (trade payables and capital creditors) other than in their functional currency is as under.

Interest Rate Risk

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the reference rates could have an impact on the Company’s cash flows as well as costs. The Company is subject to variable interest rates on some of its interest bearing liabilities. The Company’s interest rate exposure is mainly related to borrowing obligations.

Commodity Price Risk

The main raw materials which the Company procures are to a great extent linked to the movement of crude prices directly or indirectly.The pricing policy of the Company final product is structured in such a way that any change in price of raw materials is passed on to the customers in the final product however, with a time lag which mitigates the rawmaterial price risk.

Liquidity risk

Liquidity Risk arises when the company is unable to meet its short term financial obligations as and when they fall due. The company maintains adequate liquidity in the system so as to meet its all financial liabilities timely. In addition to this, the company’s overall financial position is very strong so as to meet any eventuality of liquidity tightness.

Financial Instruments

Fair value measurement hierarchy

The fair value of financial instruments as below have been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows

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

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs which are not based on observable market data

* Excludes financial assets measured at Cost Valuation

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent.

Financial assets and liabilities measured at fair value as at Balance Sheet date :

The fair value of investment in quoted Equity Shares is measured at quoted price.

The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

10 Events After the Reporting Period

The Board of Directors have recommended dividend of Rs.0.30 per fully paid up equity share of Rs.2/- each, aggregating Rs.198.38 Lacs, including Rs.33.32 Lacs dividend distribution tax for the financial year 2017-18, Subject to approval of shareholders at the Annual General Meeting.

11 Adoption of Indian Accounting Standards (Ind AS)

A. Mandatory exceptions to retrospective application

The Company has applied the following exceptions to the retrospective application of Ind AS as mandatorily required under Ind AS 101 “First Time Adoption of Indian Accounting Standards”.

i) Estimates

On assessment of estimates made under the Previous GAAP financial statements, the Company has concluded that there is no necessity to revise such estimates under Ind AS, as there is no objective evidence of an error in those estimates.

ii) Classification and measurement of financial assets

The classification of financial assets to be measured at amortised cost or fair value through profit & loss is made on the basis of facts and circumstances that existed on the date of transition to Ind AS.

B. Optional exemptions from retrospective application

Ind AS 101 “First time Adoption of Indian Accounting Standards” permits Companies adopting Ind AS for the first time to take certain exemptions from the full retrospective application of Ind AS during the transition. The Company has accordingly on transition to Ind AS availed the following key exemptions :

i) Deemed cost for property, plant and equipment and intangible assets

The Company has elected to measure all its property, plant and equipment and intangible assets at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

ii) Investments in subsidiaries

The Company has elected to measure its investments in subsidiaries at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

iii) Business combinations

“Ind AS 103 Business Combinations has not been applied to acquisitions of subsidiaries. The company has kept the same clasification for the past business combinations as in the previous GAAP financial statements.The company has excluded from its opening balance sheet those items recognised in accordance with previous GAAP that do not qualify for recognition as an asset or libility under Ind AS.

C. The following reconciliations provide the explanations and quantification of the differences arising from the transition from Previous GAAP to Ind AS in accordance with Ind AS 101:

i) Reconciliation of Equity as at 1st April, 2016 and 31st March, 2017

ii) Reconciliation of Statement of Profit and Loss for the year ended 31st March, 2017

iii) Adjustments to Statement of Cash Flows for the year ended 31st March, 2017

1 Investments

Under Previous GAAP, the non current quoted equity investment were measured at cost . Under Ind AS, the Company has designated these investments at fair value through profit or loss (FVTPL). Accordingly, these investments are required to be measured at fair value. At the date of transition to Ind AS, difference between the fair value of the instruments and the carrying value under Previous GAAP has been recognised in retained earnings. Fair value changes are recognised in the Statement of Profit and Loss for the year ended 31st March, 2017.

2 Borrowings

In accordance with Ind AS 109 “Financial Instruments”, transaction costs on issue of debentures are required to be considered as effective finance costs and recognised in the statement of profit and loss using the effective interest rate. Consequently, transaction costs recognised directly in equity or amortised using a different approach under the Previous GAAP has been reversed and are now recognised through the statement of profit and loss using the effective interest rate.

3 Other Comprehensive Income

Under Ind AS, all items of income and expense recognised during the year are included in the profit or loss for the year, unless Ind AS requires or permits otherwise. Items that are not recognised in profit or loss but are shown in the statement of profit and loss and other comprehensive income include re-measurement gains or losses on defined benefit plans. The concept of other comprehensive Income did not exist under the Previous GAAP.

4 Employee Benefits

In accordance with Ind AS 19, “Employee Benefits” re-measurement gains and losses on post employment defined benefit plans are recognised in other comprehensive income as compared to the statement of profit and loss under the Previous GAAP.

Interest expense/income on the net defined benefit liability/ asset is recognised in the statement of profit and loss using the discount rate used for defined benefit obligation as compared to the expected rate used for recognising income from plan assets under the Previous GAAP.

5 Deferred Taxes

In accordance with Ind AS 12, “Income Taxes”, the Company on transition to Ind AS has recognised deferred tax on temporary differences, i.e. based on balance sheet approach as compared to the earlier approach of recognising deferred taxes on timing differences , i.e. profit and loss approach. The tax impacts as above primarily represent deferred tax consequences arising out of Ind AS re-measurement changes.

6 Excise Duty

Under Previous GAAP, excise duty was netted off against sale of goods. However, under Ind AS, excise duty is included in sale of goods and is separately presented as expense on the face of Statement of Profit and Loss. Thus, sale of goods under Ind AS has increased with a corresponding increase in expenses.

7 Deemed cost for property, plant and equipment and intangible assets

The Company has elected to measure all its property, plant and equipment and intangible assets at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS. Consequently, depreciation on revaluation portion recognised directly in equity under the Previous GAAP has been reversed and are now recognised through the statement of profit and loss.

iii) Adjustments to Statement of Cash Flows for the year ended 31st March, 2017

There were no material differences between the Statement of Cash Flows presented under Ind AS and the Previous GAAP.

12 Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year’s presentation.

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Mar 31, 2016

1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of '' 2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company declares and pays dividends in Indian rupees. The Board of Directors, in their meeting on March 16, 2016, declared an interim dividend of '' 0.20 per equity share (i.e 10%) on 55,020,000 Equity Shares of '' 2/- each for the financial year 2015-2016. The total dividend appropriation for the year ended March 31, 2016 amounted to '' 128.74 lakhs including corporate dividend tax of '' 18.70 lakhs.

2.During the year company has issued bonus shares at the rate 1:1 in the month of October 2015. The number of shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any bonus shares issues.

Note :

i. 1335 13% Non Convertible Debentures of '' I Lac each have been issued which are redeemable at par at the end of 10 years from date of allotment, viz 24-03-2025 for '' 740.00 Lacs & 31-03-2025 for '' 595.00 Lacs. The company has an option to redeem these debenture earlier; however, no redemtion will take place before the end of 1st year.

ii. The above debentures holders shall get pari passu charge on assets allocated at Land & Building of the company at Survey No 49, Village Vadval, Taluka Khaopli, Dist. Raigad, Maharastra.

* Note : The above information regarding dues to Micro & Small Enterprises has been determined to the extent such parties have been identified on basis of information collected with the Company. This has been relied upon by the auditor.

3. Trade Payable include '' 151.50 lacs ('' 282.85 lacs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

4. i) In the opinion of the management, any of the assets other than fixed assets & non current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

5. Disclosure in Respect of Related Parties pursuant to AS-18 “Related Party Disclosures”, are given below : A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited ( wholly owned subsidiary )

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited Chefair Investment Pvt. Ltd.

SMT. Bhagirathibai Manmal Gochar Trust

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Pursuant to the Board’s approval in the meeting held on 27th August, 2015, the Company has issued bonus shares in the ratio of 1:1 in the month of October 2015. The number of shares and potentially dilutive equity shares are adjusted retrospectively for previous year for any bonus shares issues.

6. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company’s website. The Company had filed the application in the Guwahati High Court for necessary directions. The financial results do not carry effect of the said merger.

7. Corporate Social Responsibilities (CSR) activities

The Company has committed an amount of '' 15.50 Lakhs towards a project undertaken by Mr. Purushottam Modi for Sanskrit College at Ujjain and also another proposed project of building toilets for women in Rural areas of Maharashtra.

The details of CSR expenditure are mentioned as under :-

a) Gross Amount required to be spent by company during the year '' 15.35 Lacs

8. The Company has taken office premises on lease.

9. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year’s presentation.

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Mar 31, 2015

1. Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of ' 2 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company declares and pays dividends in Indian rupees. During the year ended 31st March 2015 Company has proposed dividend of Rs. 0.20 per share. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

2. NOTES ON FINANCIAL STATEMENTS

As at As at 31st March, 31st March, 2015 2014 Rs. in lacs Rs. in lacs

1. Contingent Liabilities not provided for in respect of :

i) Disputed Sales Tax Dues - 10.04

ii) Claims against the Company not acknowledged as debts 5.14 5.14

iii) Disputed Income tax Matters (including interest upto date of 12.48 12.48 Demand)

iv) Corporate Guarantee to the extent of loan taken by Subsidiaries - 73.11

2. Estimated amount of contracts remaining to be executed on capital 404.90 479.26 account and not provided for (net of advances)

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current

investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

13. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company's website. The company had filed the application in the Gauhati High Court for necessary directions. The financial results do not carry effect of the said merger.

5. Corporate Social Responsibilities (CSR) activities

The Company has committed an amount of Rs. 11.20 Lakhs towards a proposed project to be undertaken by Bhagirathibai Mammal Gochar Trust for betterment of cattle specially Cows in Haryana including constructing a boundary wall around the Gaushala at Ramgarh, Shekawati, Rajasthan to protect the cattle from falling prey to Wild animals and also another proposed project of building toilets for women in Rural areas of Maharashtra.

The details of CSR expenditure are mentioned as under :-

a) Gross Amount required to be spent by company during the year Rs.10.54 Lacs

6. The Company has taken office premises on lease.

7. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year's presentation.

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Mar 31, 2014

As at As at 31.03.2014 31.03.2013 Rs. in lacs Rs. in lacs

1. Contingent Liabilities not provided for in respect of :

i) Disputed Sales Tax Dues 10.04 10.04

ii) Claims against the Company not acknowledged as debts 5.14 5.14

iii) Disputed Income tax Matters (including interest upto date of 12.48 11.52 Demand)

iv) Corporate Gurantee to the extent of loan taken by 73.11 145.90 Subsidiaries

2. Estimated amount of contracts remaining to be executed on 479.26 509.00 capital account and not provided for (net of advances)

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. There is a diminution of Rs. 46.31 lacs (Rs. 54.30 lacs) in the value of Long term Investments , the Management is hopeful of realising its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore , no provision is considered necessary.

5. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

6. A scheme of arrangment under section 391 to 394 of the Companies Act, 1956 for merger of APL Engineering Services Pvt. Ltd, 100% subsidiary of the Company, has been approved by Board of Directors of the Company on 13.02.2013 and BSE Ltd. has issued observation letter on the same which is available for Members information on Company''s website. The company had filed the application in the Gauhati High Court for necessary directions. The financial results do not carry effect of the said merger.

7. The Company has taken office premises on lease. The lease agreement are normally renewed on expiry.

8. a) Figures shown in brackets are relatet to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year''s presentation.

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Mar 31, 2013

1. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments which have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/ reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

2. There is a diminution of Rs. 54.30 lacs (Rs. 45.63 lacs) in the value of Long term Investments, the Management is hopeful of realizing its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore, no provision is considered necessary.

3. i) Foreign exchange difference (net) debited to the Statement of Profit & Loss for the year Rs. 53.22 lacs (Rs. 97.86 lacs)

4. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Other Related parties with whom the company has entered into transactions during the year

(a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

(b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

5. A scheme of arrangement under section 391 to 394 of the Companies Act 1956 for merger of APL Engineering Services Pvt. Ltd., 100% subsidiary of the Company, has been approved by the Board of Directors of the Company on 13.02.2013 and has been filed with Bombay Stock Exchange Ltd. and SEBI for its approval. The financial results do not carry effect of the said merger.

6. The Company has taken office premises on lease. The lease agreement are normally renewed on expiry.

7. (a) Figures shown in brackets are related to the previous year.

(b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year''s presentation.

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Mar 31, 2012

1.1 Right, Preference and Restrictions attached to Equity Shares

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is entitled to one vote per share. In the event of liquidation of the Company the holder of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential payments. However, no such preferential amount exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company has compiled the above information based on the status submitted by the suppliers under the said Act.

1.2 Trade Payable include Rs. 1714.36 lacs (Rs. 1585.98 lacs) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

1.3 Leasehold land is for the period of 95 years commencing from 1st August, 1968.

1.4 The Company has revalued Leasehold Land, certain Buildings, Plant & Equipment in the year 1990-91 on the basis of reports of an external approved valuer on market value/replacement cost using standard indices. The revalued amounts (net of withdrawals) remaining substituted for the historical cost in the gross block of fixed assets as at the close of the year are Leasehold Land. Rs 219.94 lacs (Rs 219.94 lacs), Buildings Rs 50.93 lacs (Rs. 50.93 lacs), Plant & Equipment Rs 700 lacs. (Rs. 700 lacs).

As at As at 31.03.2012 31.03.2011 Rs.in lacs Rs.in lacs

1. Contingent Liabilities not provided for in respect of:

i) Disputed Sales Tax Dues 10.04 10.04

ii) Disputed Excise Duty matters 2.75 2.75

iii) Claims against the Company not acknowledged as debts 5.14 5.14

iv) Corporate Gurantee to the extent of loan taken by subsidiaries 219.35 291.87

v) Disputed Income tax Matters (including interest upto date of Demand) 29.36 -

2. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) 21.32 14.79

3. i) In the opinion of the management, any of the assets other than fixed assets & non Current investments have value on realization in the ordinary course of business at least equal to the amount at they are stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances are however, subject to formal confirmations/reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

4. There is a diminution of Rs. 45.63 lacs (Rs. 41.79 lacs )in the value of Long term Investments, the Management is hopeful of realising its investments, since fall in prices are temporary in nature and investment is in Bluechips & "A" Group Companies and therefore, no provision is considered necessary.

10. Disclosure in Respect of Related Parties pursuant to AS-18 "Related Party Disclosures", are given below :

A. List of Related Parties

i) Party where control exists: Subsidiaries APL Infotech Limited

APL Engineering Services Private Limited ( wholly owned subsidiary )

ii) Other Related parties with whom the company has entered into transactions during the year

a) Associates

Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited Chefair Investment Pvt. Ltd.

b) Key Management Personnel :

Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

13. The Company has taken/ given certain premises on lease, the lease agreements whereof are mutually renewable / cancellable.

14. a) Figures shown in brackets relate to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever considered necessary to conform to the current year's presentation.

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Mar 31, 2010

31.03.2010 31.03.2009 Rs. Rs.

1. Contingent Liabilities not provided for in respect of (excluding interest, if any) :

i) Disputed Sales Tax Dues 1,003,533 1,003,533

ii) Claims against the Company not acknowledged as debts 1,368,024 1,368,024

2. Estimated amount of contracts remaining to be executed

on capital account and not provided for (net of advances) 2,180,698 225,000

3. The Company has revalued Leasehold Land, certain Buildings, Plant & Machinery, Research & Development Equipment and Effluent Treatment Plant in the year 1990-91 on the basis of reports of an external approved valuer on market value/replacement cost using standard indices. The revalued amounts (net of withdrawals) remaining substituted for the historical cost in the gross block of fixed assets as at the close of the year are Leasehold Land. Rs.21,994,500 (Rs.21,994,500), Buildings Rs.7,509,750 (Rs.7,509,750), Plant & Machinery Rs.68,530,500. (Rs.68,530,500), Research & Development Equipment Rs.470,500 (Rs.470,500) and Effluent Treatment Plant Rs. 1,000,000 (Rs.1,000,000).

4. (a) The accounts of certain Debtors, Creditors, Loans & Advances are pending confirmations, reconciliations, and adjustments, if any, having consequential impact on the profit for the year, assets and liabilities, the amounts whereof are presently not ascertainable. The management, however, does not expect any material difference affecting the current years financial statements.

(b) In the opinion of the Board, the Current Assets and Loans and Advances are approximately of the value stated, if realised in the ordinary course of business unless otherwise stated. The provisions for depreciation and for all known liabilities are adequate and reasonable.

5 Sales & Services is exclusive of Rs 456,060,324 (Previous year Rs. Nil ), being the amount of sale of trading shares & securities. Similarly purchases for resale is exclusive of Rs. 468,244,556 (Previous year Rs. Nil), being the amount of purchase of trading shares & securities,also increase /decrease in stock is exclusive of Rs.8,202,612 (Previous year Rs. Nil) being the Closing stock of Trading shares and Securities. Loss on shares and securities is shown in Schedule 12 of "Manufacturing and Other Expenses".

6. The Company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

7. Sundry Creditors include Rs. 135,398,289 (Rs.97,367,617) being the amount of acceptances of Bills of Exchange by the Company, drawn by the Suppliers.

8. The break up of the deferred tax (liabilities)/assets (net) is as follows :

The above excludes provision for gratuity liability.and leave entitlement for the current year which is actuarially determined on an overall basis. 12. i) Foreign exchange difference (net) debited to the Profit & Loss Account for the year Rs.5,747,817 (Rs.3,383,003)

* Excluding proportionate quantity and value of materials purchased for repacking and received for conversion and captive use.

9. Related Party Disclosures :

Related party disclosures, as required by AS-18 "Related Party Disclosures", are given below :

a) Parties with whom the Company has entered into transactions during the year in the ordinary course of business.

i) Party where control exists: Subsidaries APL Infotech Limited APL Engineering Services Private Limited (wholly owned subsidiary)

ii) Companies where Key Management Personnel have significant influence : Associates Multiwyn Investments & Holdings Private Limited APL Holdings & Investments Limited APL Investments Limited

iii) Key Management Personnel : Mr. Hemant Kumar Ruia - Chairman & Managing Director

Notes :

i) No amounts in respect of related parties have been provided for/ written off / written back during the year.

ii) Related party relationship is as identified by the Company and relied upon by the Auditors.

10. Disclosure as required by Accounting Standard 15 (Revised) on Employee Benefits:

11. The Company has taken/ given certain premises on lease, the lease agreements whereof are mutually renewable / cancellable.

NOTE:

1. Installed Capacity as certified by the Chairman & Managing Director and relied upon by the auditors, this being a technical matter.

2. Actual production includes 1197.835 M.T. (684.370 M.T.) of Ethanolamines, 106.530 M.T. (95.930 MT) of Morpholine and 2.645 MT (-) of Plasticizers used for captive consumption.

3. Closing Stock excludes handling / transit losses & samples.

4. No production in Plasticizers plant due to lack of market demand and the same is revamped to produce Morpholine derivatives.

5. Actual production includes 1137.690 M.T. ( 851.69 M.T.) of Ethanolamines produced by job work.

6. Due to numerous and heterogeneous nature of trading in shares and securities, quantitative details of the same can not be given, (also Refer Note no B (5) of Schedule 13)

12. a) Figures shown in brackets relate to the previous year.

b) Figures of previous year have been regrouped/rearranged, wherever necessary to conform to the current years presentation.