Notes to Accounts of Bacil Pharma Ltd.

Mar 31, 2025

i) Provisions, Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there
is a present obligation as a result of past events and it is probable that there will be an outflow
of resources.

When the Company expects part or entire provision to be reimbursed, the same is recognized 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 recognized as a finance cost.

A Contingent Liability is a possible obligation that arises from past events and 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 enterprise or a present obligation that arises from
past events that may, but probably will not, require an outflow of resources.

Both provisions and contingent liabilities are reviewed at each Balance Sheet date and adjusted
to reflect the current best estimates. Contingent Liabilities are not recognized but are disclosed
in the notes. Contingent assets are neither recognized nor disclosed in the Financial Statements.

j) Earnings Per Share:

Basic Earnings Per Share is calculated by dividing the net profit or loss for the year attributable
to equity shareholders by the weighted average number of equity shares outstanding during the
year. The weighted average numbers of equity shares outstanding during the year are adjusted
for events including a bonus issue, bonus element in right issue to existing shareholders, share
split, and reverse share split (consolidation of shares).

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 equity shares
outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

k) Cash and Cash Equivalent:

Cash and cash equivalent for the purpose of Cash Flow Statement comprise cash at bank and in
hand.

l) Statement of Cash Flow:

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is adjusted
for the effects of transactions of non-cash nature and any deferrals or accruals of past or future
cash receipts or payments. The cash flows from operating, investing and financing activities of
the Company are segregated based on the available information.

m) Segment Reporting:

Operating segments are reported in a manner consistent with the internal reporting provided to
the chief operating decision maker.

The Board of Directors of the Company has been identified as being the Chief Operating
Decision Maker (CODM) by the management of the Company. The Company has single
reportable segments. However the Company has no separate reportable segment.

n) Significant Accounting Judgements, Estimates and Assumptions:

The preparation of Financial Statements is in conformity with the recognition and measurement
principles of Ind AS which requires the management to make judgements for estimates and
assumptions that affect the amounts of assets, liabilities and the disclosure of contingent
liabilities on the reporting date and the amounts of revenues and expenses during the reporting
period and the disclosure of contingent liabilities. Differences between actual results and
estimates are recognized in the period in which the results are known/ materialize.

i) Estimation of current tax expense and deferred tax:

The calculation of the Company''s tax charge necessarily involves a degree of estimation and
judgment in respect of certain items whose tax treatment cannot be finally determined until
resolution has been reached with the relevant tax authority or, as appropriate, through a formal
legal process. The final resolution of some of these items may give rise to material profits/losses
and/or cash flows. Significant judgments are involved in determining the provision for income
taxes, including amount expected to be paid/recovered for uncertain tax positions.

ii) Recognition of deferred tax assets/ liabilities:

The recognition of deferred tax assets/liabilities is based upon whether it is more likely than not
that sufficient and suitable taxable profits will be available in the future against which the
reversal of temporary differences can be deducted. To determine the future taxable profits,
reference is made to the latest available profit forecasts.

iii) Estimated fair value of Financial Instruments:

The fair value of financial instruments that are not traded in an active market is determined
using valuation techniques. The Management uses its judgment to select a variety of methods
and make assumptions that are mainly based on market conditions existing at the end of each
reporting period.

* Corporate Action for forfeiture of shares completed during the year. Accordingly the said shares have been
removed from the paid up share capital of the company

During the year, the Company has issued 8,62,500 Shares at a price of ^32 per share (comprisin g ^10 face value
and ^22 premium) amounting to ^2,76,00,000 (Rupees Two Crores Seventy-Six Lakhs only) on cash basis.
Additionally, the Company has issued 76,00,500 equity shares at an issue price of ^32 per share (comprising
^10 face value and ^22 premium), aggregating to ^24,32,16,000, on a non-cash basis by way of share swap.
Accordingly company has received 50,67,000 equity shares of M/s CNX Corporation Limited ("CCL"), having a
face value of ^10 each and at a price of ^48 per share. The above preferential allotments were made on March
12, 2025, and March 24, 2025.

Note 20: Other Notes to Accounts

I. Related Party Information & Transactions with Related Parties:

The Company has not entered into any related party transactions during the financial year 2024¬
2025.

II. Segment Reporting:

The Company has no separate reporting segment.

III. Financial Instrument:

The significant accounting policies, including the criteria of recognition, the basis of
measurement and the basis on which income and expenses are recognized, in respect of each
class of financial asset, financial liability, and equity instrument are disclosed in note 2.2 of the
Ind-AS Financial Statement.

Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used
to measure fair value that are either observable or unobservable and consist of
the following three levels:

Levell: Inputs are quoted prices (unadjusted) inactive markets for identical assets and
liabilities.

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

Level 3: Inputs are not based on observable market data unobservable inputs.
Fair value are determined in whole or in part using a valuation model based
on assumptions that are neither supported by prices from observable
current market transactions in the same instrument nor are they based on
available market data.

The following table summarizes financial assets and liabilities measured at fair
value on a recurring basis and financial assets that are not measured on fair value
on recurring basis (but fair value disclosures are required)

Notes referred to above form part of Balance Sheet

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

For Laxmikant Kabra & Co. LLP

Chartered Accountants

Firm Registration No. : 117183W/ W100736

Sd- Sd-

Dinesh Notiyal Prakash shah

(Director) (Director)

Sd- DIN: 10289995 DIN: 01136800

CA Siddhant Kabra

Partner

Membership No.: 193348

UDIN: 25193348BMHXXY6805 Sd-

Place: Mumbai Jayesh Ramchandra Patil

Date: 26^th May, 2025 (Chief Finance Officer)

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Mar 31, 2024

The Company has entered into an agreement for sale of its Land and Building, Leasehold Land and Plant & Machinery on "as is where is basis" for a lump sum consideration of Rs. 250 Lakhs based on which the Fair value of all the assets held for sale has been taken as Rs. 250 Lakhs and the difference between cost of assets held for sale and the fair value of the assets has been shown diminution in value of all assets held for sale as the measurement of diminution in value for each asset was not possible.

I. Related Party Information & Transactions with Related Parties:

The Company has not entered into any related party transactions during the financial year 20232024.

II. Segment Reporting:

The Company has no separate reporting segment.

III. Financial Instrument:

The significant accounting policies, including the criteria of recognition, the basis of measurement and the basis on which income and expenses are recognized, in respect of each class of financial asset, financial liability, and equity instrument are disclosed in note 2.2 of the Ind-AS Financial Statement.

Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consist of the following three levels:

Levell: Inputs are quoted prices (unadjusted) inactive markets for identical assets and liabilities.

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

Level 3: Inputs are not based on observable market data unobservable inputs. Fair value are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis and financial assets that are not measured on fair value on recurring basis (but fair value disclosures are required)

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Mar 31, 2013

I. In the opinion of the board, current assets, loans and advances have value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

II. Amount outstanding for payment to SSI Units over Rs. 1 Lac for 30 days or more: NIL (Previous year: NIL).

III. In view of project in progress, the deferred tax assets/liabilities is not ascertained on prudent basis.

IV. No Impairment of Assets has been ascertained and the same will be accounting on discarding/disposal of the assets.

V. There are no reportable segments.

VI. Previous year figures have been regrouped/rearranged wherever necessary.

VII. Figures have been rounded off to nearest rupees.

VIII. Related Party Disclosures:

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Mar 31, 2012

I. Capital Work In Progress Includes Land. Building. Plant and Machineries at MIDC, Lote. capital advances, material at site and Incidental expenses.

II. Project Preoperative. Pubic Issue and Preliminary Expenses, pending allocation, are deferred to be adjusted til commencement of commercial production.

III. No provision tor retirement i.e. bonus & gratuity has been made as no employee Is eligible for entitlements of said benefits.

IV. Contingent Ltoblltles

Estimated amount of contract remain to be executed Nil (Previous Year NN)

V. In the opinion of the board, current assets, bans and advances have value on realisation In the ordinary course of business, at least equal to the amount at which they are stated.

VI. Amount outstanding for payment lo SSI Units over Rs. 1 Loc for 30 days or more: NIL (Previous year: NIL).

VII. In view of project In progress, the deferred tax assets/DobWtles Is not ascertained on prudent basis.

VIII. No Impairment of Assets has been ascertained and the same will be accounting on discarding/disposal of the assets.

IX. There are no reportable segments.

X. Previous year figures hove been regrouped/rearranged wherever necessary,

XI. Figures have been rounded off to nearest rupees.

XII. Related Party Disclosures:

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Mar 31, 2010

1) Contingent Liabilities

Estimated amount of contract remain to be executed Nil (Previous Year Nil)

2) In the opinion of the board, current assets, loans and advances have value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

3) Amount outstanding for payment to SSI Units over Rs. 1 Lac for 30 days or more: NIL (Previous year: NIL).

4) In view of project In progress, the deferred tax assets/liabilities Is not ascertained on prudent basis.

5) No Impairment of Assets has been ascertained.

6) There are no reportable segments.

7) Previous year figures have been regrouped/rearranged wherever necessary.

8) Figures have been rounded off to nearest rupees.