Notes to Accounts of Centenial Surgical Suture Ltd.

Mar 31, 2025

2.13 Provisions, Contingent Liabilities and Contingent Assets :

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of
past events, it is probable that an outflow of resources will be required to settle the obligation and in respect
of which a reliable estimate can be made of the amount of obligation. Provisions are not discounted to its
present value and are determined based on best estimate required to settle the obligation at the balance
sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

A disclosure by way of a contingent liability is made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. Contingent assets are not recognised or
disclosed in the financial statements.

2.14 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 period.

Diluted earnings per share is computed by dividing the net profit or loss for the year attributable to the equity
shareholders, by the weighted average number of equity and equivalent diluted equity shares outstanding
during the year except where the results would be antidilutive.

2.15 Cash and cash equivalents :

Cash and cash equivalents include cheques in hand, cash at bank and deposits with banks having original
maturity of not more than three months.

2.16 Fair value measurement :

The Company''s accounting policies and disclosures require the measurement of fair values for, both financial
and non-financial assets and liabilities. Fair value is 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. The
Company has an established control framework with respect to the measurement of fair values. The
Company''s management regularly reviews significant unobservable inputs and valuation adjustments. If
third party information is used to measure fair values, then the management assesses the evidence obtained
from the third parties to support the conclusion that such valuations meet the requirements of Ind AS,
including the level in the fair value hierarchy in which such valuations should be classified.

When measuring the fair value of a financial asset or a financial liability, the Company uses observable market
data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the
inputs used in the valuation techniques as follows:

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

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

Level 3 : Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value
hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting
period during which the change has occurred. In determining the fair value of its financial instruments, the
Company uses a variety of methods and assumptions that are based on market conditions and risks existing
at each reporting date. The methods used to determine fair value includes discounted cash flow analysis,
available quoted market prices and dealer quotes. All methods of assessing fair value result from general
approximation of value and the same may differ from the actual realised value. Further information about
the assumptions made in measuring fair value is included in the note 2.11 on financial instruments.

39 Derivative instruments :

The Company''s exposure to foreign currency fluctuations relates to foreign currency irrevocable 90 days letter of
credit. The Company limits the effects of foreign exchange rate fluctuations by following established risk
management policies. The currencies in which these transactions are mainly denominated is Japan Yen.

40 Financial risk management :

The Company has exposure to the following risks arising from financial instruments :

¦ Market Risk [refer A) below]

¦ Liquidity Risk [refer B) below]

¦ Credit Risk [refer C) below]

In the course of its business the Company is exposed primarily to aforesaid risks which may impact the fair value of
its financial instruments. The Company has a risk management system which not only covers the foreign exchange
risks but also other risks associated with the financial assets and liabilities such as credit risks. The risk management
strategy is approved by Board of Directors which is implemented by the Company''s management. The risk
management framework aims to create a stable business planning environment by reducing the impact of market
related risks credit risks and currency fluctuations on the Company''s earnings. The risks identified through the risk
management system are analysed and evaluated by the Company''s management and reported to the Board of
Directors periodically along with report of planned mitigation measures.

A) Market Risk :

Market risk is the risk of any loss in future earnings in realisable fair values or in future cash flows that may
result from a change in the price of a financial instrument. The value of a financial instrument may change as a
result of changes in the foreign currency exchange rates liquidity and other market changes. Future specific
market movements cannot be normally predicted with reasonable accuracy.

i) Foreign currency risk :

The Company is exposed to foreign exchange risk arising from foreign currency transactions primarily
with respect to the Japanese Yen (JPY) and US dollars (US$). Foreign exchange risk arises from future
commercial transactions and recognised assets and liabilities denominated in a currency that is not the
Company''s functional currency (Indian Rupees). The Company is exposed to foreign exchange risk on
their receivables, payables which are held in JPY and US$. The fluctuation in the exchange rate of INR
relative to JPY and US$ may not have a material impact on the company''s assets and liabilities.

Foreign Currency Sensitivity :

The following table demonstrates sensitivity to a reasonable possible change in major foreign currency
(JPY and US$) with all other variables held constant. The sensitivity analysis is prepared on the net
unhedged exposure of the Company as at the reporting date. 5% represents management''s assessment
of reasonably possible change in foreign exchange rate.

ii) Interest rate risk :

The Company has granted loans to related parties and third parties. The Company recovers interest as
per the terms of the agreement which approximates the prevailing market rate of interest from time to
time. Accordingly, interest rate risk for loans given is not considered to be substantial. The Company does
not have any borrowings. Surplus funds are being invested in bank deposits at fixed interest rates and
the tenure is managed to match with the Company''s liquidity profile.

B) Liquidity Risk :

The Company''s principal sources of liquidity are cash and cash equivalents and cash flows generated from
operations. The Company regularly monitors actual cash flows and forecasts to ensure that the Company
maintains sufficient liquidity to meet the operation needs.

C) Credit Risk :

Credit risk is the unexpected loss in financial instruments if the counter parties fails to discharge it''s contractual
obligations in entirety and timely. The Company is exposed to credit risks arising from it''s operating and
financing activities such as trade receivables loans and advances and other financial instruments. The carrying
amounts of financial assets represent the maximum credit exposure.

42 Capital management :

For the purpose of Company''s capital management capital includes equity share capital and all other reserves
attributable to equity shareholders. The Company has a long-term strategy of pursuing profitable growth. Capital is
managed proactively to secure the existence of the Company as a going concern in the long-term and create financial
flexibility for profitable growth in order to add value to the Company. A further aim of the capital management is to
ensure long-term availability of liquidity maintain strong credit ratings and ensure optimal capital structure in order
to support business through continuing growth and maximizing shareholders value. The Company funds it''s
operations through internal accruals and the Management along with the Board of Directors regularly monitor the
returns on capital.

43 Employee benefits : Post employment benefit plans

Defined contribution plans :

The Company makes contributions determined as a specified percentage of employee salaries in respect of
qualifying employees towards Provident Fund which is a defined contribution plan. The Company has no obligations
other than to make the specified contributions. The contributions are charged to the Statement of Profit and Loss
as they accrue. The amount recognised as an expense towards contribution to Provident Fund for the year
aggregated to Rs.49.61 Lakhs (March 31, 2024: Rs.44.20 Lakhs).

Defined benefit plans :

The Company has defined benefit plans that provide gratuity benefit. The gratuity plan entitles an employee who
has rendered at least five years of continuous service to receive one-half month''s salary for each year of completed
service at the time of retirement / exit. The Scheme is funded by the plan assets.

The Company makes contributions determined as a specified percentage of employee salaries in respect of certain
employees towards Provident Fund to the Employee Provident Fund.

Valuation techniques and significant unobservable inputs :

¦ The carrying amounts of trade receivables, cash and bank balances, other bank balances, non-current loans,
current loans, other current financial asset, trade payables and other current financial liabilities are measured
at amortised cost in the financial statements are a reasonable approximation of their fair values since the
Company does not anticipate that the carrying amounts would be significantly different from the values that
would eventually be received or settled.

¦ There have been no transfers between Level 1 and Level 2 during the above periods.

¦ Short-term financial assets and liabilities are stated at carrying value which is approximately equal to their fair
value.

45 Dues to Micro, Small and Medium Enterprises :

Under the Micro, Small and Medium Enterprises Development Act 2006 (MSMED) which came into force from
October 2, 2006 certain disclosures are required to be made relating to Micro, Small and Medium enterprises. On
the basis of the information and records available with the management amount outstanding as on March 31, 2025
to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.432.92 Lakhs (Previous Year
Rs.796.53 Lakhs). As per the terms / understanding with the parties, no interest is payable and hence no provision
has been made for the same.

46 Segment reporting :

The business of the Company mainly comprises of manufacturing and sale of “Medical Devices” which has been identified
as a single reportable segment for the purpose of Ind AS 108 on ‘Operating Segments''.

The geographical information analyses the Company''s revenues and non-current assets by the Company''s country of
domicile (i.e. India) and outside India. In presenting the geographical information segment revenue has been based on
geographical location of customers and segment assets which have been based on the geographical location of the assets.

47 Details of Benami Property held :

The Entity has not held any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the
rules made thereunder. Hence any proceeding have not been initiated or pending against the group companies for holding
any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

48 Relationship with Struck Off Companies :

The company has not undertaken any transactions with struck off companies.

49 Borrowings obtained on the basis of Security of Current Asset :

As per sanctioned letter issued by Banks, the company is required to submit Book Debts and Inventory statement to Banks
on quarterly basis. The Books Debts and Inventory statement are in agreement with books of account.

50 Revaluation of Property, Plant and Equipment and Intangible Assets :

The company has not done revaluation of PPE / Intangible assets.

51 Utilisation of Borrowed Funds and Share Premium :

As on March 31, 2025 there is no unutilised amounts in respect of any issue of securities and long-term borrowings from
banks and financial institutions. The borrowed funds have been utilised for the specific purpose for which the funds were
raised.

52 Undisclosed Income :

The company does not have any such transaction which is not recorded in the books of account that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (Such as, search or survey or
any other relevant provisions of the Income Tax Act, 1961).

53 Details of Crypto or Virtual Currency :

The Entity has not traded or invested in crypto currency or virtual currency during the financial year.

54 Registration of Charges or Satisfaction with Registrar of Companies :

The Entity does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

55 Compliance with Number of Layers of Companies :

The Entity does not have any Holding or Subsidiary Companies in respect of the prescribed clause (87) of section 2 of the
Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017.

56 The Entity have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:

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

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

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

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on

behalf of the Funding Party (Ultimate Beneficiaries) or

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

As per our report of even date attached

In terms of our report attached For & on behalf of the Board of Directors of CENTENIAL SURGICAL SUTURE LTD.

for MAHESH CHANDRA & ASSOCIATES CIN : L99999MH1995PLC089759

Chartered Accountants

Firm Registration No. 112334W Vijay Majrekar (DIN : 00804808) Anuradha Kashikar (DIN : 00804831)

Chairman & Managing Director Executive Director & Chief Financial Officer

Adityavikram Bohra

Partner Mahima Bathwal

Membership No.: 193223 Company Secretary & Compliance Officer

Mumbai, MAHARASHTRA, May 28, 2025 Membership No. ACS A35069

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Mar 31, 2024

a) The Company has availed exemption available under Ind AS 101 to continue with carrying value as at April 1, 2016 determined in accordance with Previous GAAP for all property, plant and equipment and intangible assets as deemed cost of such assets on transition to Ind AS.

Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date. Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for deductible timing differences only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the Company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that such deferred tax assets can be realized against future taxable profits. At each reporting date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax assets to the extent that it has become reasonably certain or virtually certain, as the case

may be, that sufficient future taxable income will be available against which such deferred tax assets can be realized. The carrying amount of deferred tax assets are reviewed at each reporting date. The Company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available against which deferred tax asset can be realized. Any such write-down is reversed to the extent that it becomes reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available.

Rights preferences and restrictions attached to equity shares :

The Company has a single class of equity shares having par value of Rs.10.00 per share. Accordingly, all equity shares rank equally with regard to one vote per share held. In the event of liquidation of the Company the equity shareholders are eligible to receive assets of the company after distribution of all preferential amounts in the proportion to their shareholding.

Nature and purpose of reserves : Retained earnings are the profits that the Company has earned till date less any transfers to General reserve and payment of dividend. It is utilised in accordance with the provisions of the Companies Act, 2013.

35 Contingent liabilities not provided for in respect of :				Rs. In Lakhs
Particulars			For the yearended March 31, 2024	For the year ended March 31, 2023
Claims against the company not acknowledged as debts:
a)	Employees and ex-employees related matters :
	i)	Matters pending in Labour Court / Civil Court / High Court for reinstatement of service / recovery of salary	10.00	10.00
Demand for discontinuing of contract system and for differential ) wages
b)	i)	Sales Tax :
For non-receipt of C Forms and non-acceptance of Company’s claim of certain sales as exempt sales in respect of assessment years 2016-2017, - -2017-2018 (upto June 2017)
ii) Service Tax :
In respect of matters where the Company has received favourable orders / partial relief from the First Appellate authorities but the Central Excise and Customs Department is pursuing further with higher - -Appellate authorities (excluding the matters if not ultimately allowed would be allowed in the following assessment years).
	iii)	Excise Duty :
In respect of matters decided against the Company for which the Company is in appeal with higher authorities
c)	Income Tax :
	i)	In respect of matters decided against the Company for which the Company is in appeal with higher authorities.	0.12	0.12
In respect of matters where the Company has received favourable orders / partial relief from the First Appellate authorities but the ii) Income Tax Department is pursuing further with higher Appellate - -authorities (excluding the matters if not ultimately allowed would be allowed in the following assessment years).

39 Derivative instruments :

The Company''s exposure to foreign currency fluctuations relates to foreign currency irrevocable 90 days letter of credit. The Company limits the effects of foreign exchange rate fluctuations by following established risk management policies. The currencies in which these transactions are mainly denominated is Japan Yen.

40 Financial risk management :

The Company has exposure to the following risks arising from financial instruments :

¦ Market Risk [refer A) below]

¦ Liquidity Risk [refer B) below]

¦ Credit Risk [refer C) below]

In the course of its business the Company is exposed primarily to aforesaid risks which may impact the fair value of its financial instruments. The Company has a risk management system which not only covers the foreign exchange risks but also other risks associated with the financial assets and liabilities such as credit risks. The risk management strategy is approved by Board of Directors which is implemented by the Company''s management. The risk management framework aims to create a stable business planning environment by reducing the impact of market related risks credit risks and currency fluctuations on the Company''s earnings. The risks identified through the risk management system are analysed and evaluated by the Company''s management and reported to the Board of Directors periodically along with report of planned mitigation measures.

A) Market Risk :

Market risk is the risk of any loss in future earnings in realisable fair values or in future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the foreign currency exchange rates liquidity and other market changes. Future specific market movements cannot be normally predicted with reasonable accuracy.

i) Foreign currency risk :

The Company is exposed to foreign exchange risk arising from foreign currency transactions primarily with respect to the Japanese Yen (JPY) and US dollars (US$). Foreign exchange risk arises from future commercial transactions and recognised assets and liabilities denominated in a currency that is not the Company''s functional currency (Indian Rupees). The Company is exposed to foreign exchange risk on their receivables, payables which are held in JPY and US$. The fluctuation in the exchange rate of INR relative to JPY and US$ may not have a material impact on the company''s assets and liabilities.

Foreign Currency Sensitivity :

The following table demonstrates sensitivity to a reasonable possible change in major foreign currency (JPY and US$) with all other variables held constant. The sensitivity analysis is prepared on the net unhedged exposure of the Company as at the reporting date. 5% represents management''s assessment of reasonably possible change in foreign exchange rate.

ii) Interest rate risk :

The Company has granted loans to related parties and third parties. The Company recovers interest as per the terms of the agreement which approximates the prevailing market rate of interest from time to time. Accordingly, interest rate risk for loans given is not considered to be substantial. The Company does not have any borrowings. Surplus funds are being invested in bank deposits at fixed interest rates and the tenure is managed to match with the Company''s liquidity profile.

B) Liquidity Risk :

The Company''s principal sources of liquidity are cash and cash equivalents and cash flows generated from operations. The Company regularly monitors actual cash flows and forecasts to ensure that the Company maintains sufficient liquidity to meet the operation needs.

C) Credit Risk :

Credit risk is the unexpected loss in financial instruments if the counter parties fails to discharge it''s contractual obligations in entirety and timely. The Company is exposed to credit risks arising from it''s operating and financing activities such as trade receivables loans and advances and other financial instruments. The carrying amounts of financial assets represent the maximum credit exposure.

42 Capital management :

For the purpose of Company''s capital management capital includes equity share capital and all other reserves attributable to equity shareholders. The Company has a long-term strategy of pursuing profitable growth. Capital is managed proactively to secure the existence of the Company as a going concern in the long-term and create financial flexibility for profitable growth in order to add value to the Company. A further aim of the capital management is to ensure long-term availability of liquidity maintain strong credit ratings and ensure optimal capital structure in order to support business through continuing growth and maximizing shareholders value. The Company funds it''s operations through internal accruals and the Management along with the Board of Directors regularly monitor the returns on capital.

43 Employee benefits : Post employment benefit plans

Defined contribution plans :

The Company makes contributions determined as a specified percentage of employee salaries in respect of qualifying employees towards Provident Fund which is a defined contribution plan. The Company has no obligations other than to make the specified contributions. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognised as an expense towards contribution to Provident Fund for the year aggregated to Rs.44.20 Lakhs (March 31, 2023: Rs.40.38 Lakhs).

Defined benefit plans :

The Company has defined benefit plans that provide gratuity benefit. The gratuity plan entitles an employee who has rendered at least five years of continuous service to receive one-half month''s salary for each year of completed service at the time of retirement / exit. The Scheme is funded by the plan assets.

The Company makes contributions determined as a specified percentage of employee salaries in respect of certain employees towards Provident Fund to the Employee Provident Fund.

Valuation techniques and significant unobservable inputs :

¦ The carrying amounts of trade receivables, cash and bank balances, other bank balances, non-current loans, current loans, other current financial asset, trade payables and other current financial liabilities are measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

¦ There have been no transfers between Level 1 and Level 2 during the above periods.

¦ Short-term financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

45 Dues to Micro, Small and Medium Enterprises :

Under the Micro, Small and Medium Enterprises Development Act 2006 (MSMED) which came into force from October 2, 2006 certain disclosures are required to be made relating to Micro, Small and Medium enterprises. On the basis of the information and records available with the management amount outstanding as on March 31, 2024 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.796.53 Lakhs (Previous Year Rs.142.29 Lakhs). As per the terms / understanding with the parties, no interest is payable and hence no provision has been made for the same.

46 Segment reporting :

The business of the Company mainly comprises of manufacturing and sale of “Medical Devices” which has been identified as a single reportable segment for the purpose of Ind AS 108 on ‘Operating Segments''.

The geographical information analyses the Company''s revenues and non-current assets by the Company''s country of domicile (i.e. India) and outside India. In presenting the geographical information segment revenue has been based on geographical location of customers and segment assets which have been based on the geographical location of the assets.

47 Details of Benami Property held :

The Entity has not held any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder. Hence any proceeding have not been initiated or pending against the group companies for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

48 Relationship with Struck Off Companies :

The company has not undertaken any transactions with struck off companies.

49 Borrowings obtained on the basis of Security of Current Asset :

As per sanctioned letter issued by Banks, the company is required to submit Book Debts and Inventory statement to Banks on quarterly basis. The Books Debts and Inventory statement are in agreement with books of account.

50 Revaluation of Property, Plant and Equipment and Intangible Assets :

The company has not done revaluation of PPE / Intangible assets.

51 Utilisation of Borrowed Funds and Share Premium :

As on March 31, 2024 there is no unutilised amounts in respect of any issue of securities and long term borrowings from banks and financial institutions. The borrowed funds have been utilised for the specific purpose for which the funds were raised.

52 Undisclosed Income :

The company does not have any such transaction which is not recorded in the books of account that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 ( Such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

53 Details of Crypto or Virtual Currency :

The Entity has not traded or invested in crypto currency or virtual currency during the financial year.

54 Registration of Charges or Satisfaction with Registrar of Companies :

The Entity does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

55 Compliance with Number of Layers of Companies :

The Entity does not have any Holding or Subsidiary Companies in respect of the prescribed clause (87) of section 2 of the Companies Act read with the Companies ( Restriction on number of Layers) Rules, 2017.

56 The Entity have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

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

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

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

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

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

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Mar 31, 2016

1. The Company has only one class of shares referred to as equity shares having face value ofRs.10/-. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Details of Equity Shares held by each shareholders holding more than 5%

3. The Board of Directors have not recommended any dividend for the year.

4. Disclosure of trade payables under current liabilities is based on the information available with the Company regarding the status of the suppliers as defined under the “Micro, Small and Medium Enterprises Development Act, 2006”. Amount outstanding as on March 31, 2016 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.305.85 Lakhs (Pr. Yr. Rs.299.91 Lakhs). As per the terms / understanding with the parties, no interest is payable and hence no provision has been made for the same.

5. The Company has one segment of activity namely “Surgical Sutures and Medical Devices”.

6. EMPLOYEE BENEFITS

As required by Accounting Standard-15 ‘Employee Benefits’ the disclosures are as under :

7. Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees’ Pension Scheme (EPS) with the government, and certain state plans such as Employees’ State Insurance (ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributions are made to the Government’s funds. While both the employees and the Company pay predetermined contributions into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only by the Company. The contributions are normally based on a certain proportion of the employee’s salary. During the year, the Company has recognized the following amounts in the Account:

8. Defined Benefit Plans

Gratuity: The Company makes annual contributions to Employees’ Group Gratuity-cum Life Assurance (Cash Accumulation) Scheme of LIC, a funded defined benefit plan for qualifying employees. The scheme provides for payment to vested employees as under:

9. On normal retirement / early retirement / withdrawal / resignation:

As per the provisions of Payments of Gratuity Act, 1972 with vesting period of 5 years of service.

10. On the death in service:

As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

Death Benefit: The Company provides for death benefit, a defined benefit plan (death benefit plan) to certain categories of employees. The death benefit plan provides a lump sum payment to vested employees on death, being compensation received from the insurance company and restricted to limits set forth in the said plan. The death benefit plan is non-funded.

The estimate of future increase in compensation levels, considered in the actuarial valuation, have been taken on account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information has been certified by the actuary and relied upon by the auditors.

11. Leave Encashment:

No Provision has been made in the accounts towards encashment of earned leaves not availed by the employees upto March 31, 2016. Since their encashment as per the rules of the Company does not fall due on the same date. The same shall be accounted for as and when paid.

12. Excise duty related to differences between closing and opening stock and other adjustments are stated under operating and other expenses. Excise duty related to turnover is reduced from the Gross Revenue from Operations.

13. Figures unless stated specific are in lakhs.

14. As per the best estimate of the management, no provision is required to be made as per Accounting Standard (AS) 29 “Provision, Contingent Liabilities and Contingent Assets” as notified by the Companies (Accounting Standards) Rules 2006, in respect of any present obligation as a result of a past event that could lead to a probable outflow of resources which would be required to settle the obligation.

15. RESEARCH AND DEVELOPMENT EXPENDITURE:

No Revenue expenses are incurred on research and development during the year.

16. Related party disclosure with whom transactions have taken place during the year as required by Accounting Standards 18 are given below: -

Relationships:

17. Note on hedge and unhedged foreign currency assets and liabilities:

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are as below:

18. The Company has not granted any loan/advances in the nature of loans, as stipulated in the Clause 32 of the Listing Agreement with the Stock Exchanges. For this purpose, the loans to employees as per the Company’s policy, security deposits paid towards premises taken on leave and license basis have not been considered. Hence, there are no investments by loans in the shares of the Parent Company and/or subsidiary companies.

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Mar 31, 2015

1. CORPORATE INFORMATION:

The principle activities of the Company comprise of manufacturing surgical sutures and medical devices. The company is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956 and listed on the BSE Limited (BSE) and Ahmedabad Stock Exchange Limited (ASE).

2. SHORT- TERM BORROWINGS

Cash credit facilities are secured by way of hypothecation of stock and book debts. It is further secured by collateral charge on immoveable properties, hypothecation of plant and machinery, other fixed assets of the Company, in addition to personal guarantee of the Promoter / Director.

3. CONTINGENT LIABILITIES: Rs. in Lakhs As at As at Particulars March 31, 2015 March 31, 2014

i) Letter of Credit opened 0.00 39.11

ii) Guarantees given by the Bankers on behalf of the Company 0.00 3.00

iii) Income tax demands disputed by Company pending in appeal 0.13 0.13

Future cash outflows in respect of liability under clause (iii) is dependent on decisions by relevant authorities of respective disputes, in respect of clauses (i) & (ii) liability is dependent on terms agreed upon with the parties.

4. The Board of Directors have not recommended any dividend for the year.

5. Disclosure of trade payables under current liabilities is based on the information available with the Company regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act, 2006". Amount outstanding as on March 31, 2015 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.299.91 Lakhs (Pr. Yr. Rs.341.05 Lakhs). As per the terms / understanding with the parties, no interest is payable and hence no provision has been made for the same.

6. The Company has one segment of activity namely "Surgical Sutures and Medical Devices".

7. EMPLOYEE BENEFITS

As required by Accounting Standard-15 'Employee Benefits' the disclosures are as under :

8.1. Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees' Pension Scheme (EPS) with the government, and certain state plans such as Employees' State Insurance (ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributions are made to the Government's funds. While both the employees and the Company pay predetermined contributions into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only by the Company. The contributions are normally based on a certain proportion of the employee's salary. During the year, the Company has recognised the following amounts in the Account:

8.2. Defined Benefit Plans

Gratuity: The Company makes annual contributions to Employees' Group Gratuity-cum Life Assurance (Cash Accumulation) Scheme of LIC, a funded defined benefit plan for qualifying employees. The scheme provides for payment to vested employees as under:

8.2.1. On normal retirement / early retirement / withdrawal / resignation:

As per the provisions of Payments of Gratuity Act, 1972 with vesting period of 5 years of service.

8.2.2. On the death in service:

As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

Death Benefit: The Company provides for death benefit, a defined benefit plan (death benefit plan) to certain categories of employees. The death benefit plan provides a lump sum payment to vested employees on death, being compensation received from the insurance company and restricted to limits set forth in the said plan. The death benefit plan is non-funded.

Disclosures for defined benefit plans i.e. Gratuity (Funded Plan), based on actuarial reports as on March 31, 2015 are as under:

The estimate of future increase in compensation levels, considered in the actuarial valuation, have been taken on account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information has been certified by the actuary and relied upon by the auditors.

8.3. Leave Encashment:

No Provision has been made in the accounts towards encashment of earned leaves not availed by the employees upto March 31, 2015. Since their encashment as per the rules of the Company does not fall due on the same date. The same shall be accounted for as and when paid.

9. Excise duty related to differences between closing and opening stock and other adjustments are stated under operating and other expenses. Excise duty related to turnover is reduced from the Gross Revenue from Operations.

10. Figures unless stated specific are in lakhs.

11. As per the best estimate of the management, no provision is required to be made as per Accounting Standard (AS) 29 "Provision, Contingent Liabilities and Contingent Assets" as notified by the Companies (Accounting Standards) Rules 2006, in respect of any present obligation as a result of a past event that could lead to a probable outflow of resources which would be required to settle the obligation.

12. RESEARCH AND DEVELOPMENT EXPENDITURE:

No Revenue expenses are incurred on research and development during the year.

13. Note on hedge and unhedged foreign currency assets and liabilities:

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are as below:

14. The Company has not granted any loan/advances in the nature of loans, as stipulated in the clause 32 of the Listing Agreement with the Stock Exchanges. For this purpose, the loans to employees as per the Company's policy, security deposits paid towards premises taken on leave and license basis have not been considered. Hence, there are no investments by loans in the shares of the Parent Company and/or subsidiary companies.

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Mar 31, 2014

1. CONTINGENT LIABILITIES: Rs in Lakhs As at As at Particulars March 31 2014 March 31 2013

i) Letter of Credit opened 39.11 25.58

ii) Guarantees given by the Bankers on behalf of the Company 3.00 3.00

iii) Income tax demands disputed by Company pending in appeal 0.13 2.30

Future cash outflows in respect of liability under clause (iii) is dependent on decisions by relevant authorities of respective disputes, in respect of clauses (i) & (ii) liability is dependent on terms agreed upon with the parties.

2. The Board of Directors have not recommended any dividend for the year.

3. Disclosure of trade payables under current liabilities is based on the information available with the Company regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act, 2006". Amount outstanding as on March 31, 2014 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.341.05 Lakhs (Pr.Yr. Rs.339.19 Lakhs). As per the terms / understanding with the parties, no interest is payable and hence no provision has been made for the same.

4. The Company has one segment of activity namely "Surgical Sutures and Medical Devices".

5. EMPLOYEE BENEFITS

As required by Accounting Standard-15 ''Employee Benefits'' the disclosures are as under :

5.1. Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees'' Pension Scheme (EPS) with the government, and certain state plans such as Employees'' State Insurance(ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributions are made to the Government''s funds. While both the employees and the Company pay predetermined contributions into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only by the Company. The contributions are normally based on a certain proportion of the employee''s salary. During the year, the Company has recognised the following amounts in the Account:

5.2. Defined Benefit Plans

Gratuity: The Company makes annual contributions to Employees Group Gratuity-cum Li Assurance (Cash Accumulation) Scheme of LIC, a funded defmed benefit plan for qualifying employees. The scheme provides for payment to vested employees as under:

5 2 1 On normal retirement / early retirement / withdrawal / resignation.

As per the provisions of Payments of Gratuity Act, 1972 with vesting period of 5 years of service.

5.2.2. On the death in service:

As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

Death Benefit- The Company provides for death benefit, a defined benefit plan (death benefit plan) to certain categories of employees. The death benefit plan provides a lump sum payment to vested employees on death, being compensation received from the insurance company and restricted to limits set forth in the said plan. The death benefit plan is non-funded.

Disclosures for defined benefit plans i.e. Gratuity (Funded Plan), based on actuarial reports as on March 31,2014 are as under:

The estimate of future increase in compensation levels, considered in the actuarial valuation have been taken on account of inflation seniority, promotion and other relevant factors such as supplementary in employment market. The above information has been certified by the actuary and relied upon by the auditors.

5.3. Leave Encashment:

No Provision has been made in the accounts towards encashment of earned leaves not availed by the Company does not fall due on the same date. The same shall be accounted for as and when paid.

6. Excise duty related to differences between closing and opening stock and other adjustments are stated fron^ Operations ^ eXPenSeS'' Exdse duty related to turnover is reduced from the Gross Revenue

7. Figures unless stated specific are in lakhs.

8. As per the best estimate of the management, no provision is required to be made as per Accounting Standard (AS)''29 Provision, Contingent Liabilities and Contingent Assets" as notified by the Companies (Accounting Standards) Rules 2006, m respect of any present obligation as a result of a past event that could lead to a probable outflow of resources which would be required to settle the obligation.

9. RESEARCH AND DEVELOPMENT EXPENDITURE:

No Revenue expenses are incurred on research and development during the year.

10. Note on hedge and unhedged foreign currency assets and liabilities:

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are as below:

11, The Company has not granted any loan/advances in the nature of loans, as stipulated in the clause 32 of the '' Listing Agreement with the Stock Exchanges. For this purpose, the loans to employees as per the Company''s policy, security deposits paid towards premises taken on leave and license basis have not been considered. Hence, there are no investments by loans in the shares of the Parent Company and/or subsidiary companies.

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Mar 31, 2013

1 CORPORATE INFORMATION::

The principle activities of the Company comprise of manufacturing surgical sutures and medical devices. The company is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956 and listed on the Bombay Stock Exchange Limited (BSE) & Ahmedabad Stock Exchange Limited (ASE).

2. The Board of Directors have not recommended any dividend for the year.

3. Disclosure of trade payables under current liabilities is based on the information available with the Company regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act, 2006". Amount outstanding as on March 31, 2013 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.339.19 Lakhs (Pr.Yr. Rs. 276.19 Lakhs Lakhs). As per the terms/ understanding with the parties, no interest is payable and hence no provision has been made for the same.

4. The Company has one segment of activity namely "Surgical Sutures and Medical Devices".

5. Employee Benefits

As required by Accounting Standard-15 ''Employee Benefits'' the disclosures are as under :

5.1. Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees''Pension Scheme (EPS) with the government, and certain state plans such as Employees'' State Insurance(ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributions are made to the Government''s funds. While both the employees and the Company pay predetermined contributions into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only by the Company. The contributions are normally based on a certain proportion of the employee''s salary. During the year, the Company has recognised the following amounts in the Account:

5.2. Leave Encashment: cu™OT1h nf parned leaves not availed by the employees No Provisionhas beennuuieintheac not faU Jw on the same upto March 31, 2013. Since their encashment as per the rules ot the company date The same shall be accounted for as and when paid.

6 Figures unless stated specific are in lakhs. resources which would be required to set.le the obli8a.io„.

7. The Company has not granted any loan/advances in the nature of loans, as stipulated in the clause 32 of the Listing Agreement with the Stock Exchanges. For this purpose, the loans to employees as per the Company''s policy, security deposits paid towards premises taken on leave and license basis have not been considered. Hence, there are no investments by loans in the shares of the Parent Company and/ or subsidiary companies.

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Mar 31, 2012

1 CORPORATE INFORMATION:

The principle activities of the Company comprise of manufacturing surgical sutures and medical devices, is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956 and listed on the Bombay Stock Exchange Limited (BSE) & Ahmedabad Stock Exchange Limited (ASE).

2. Contingent Liabilities: Rs. In Lakhs

Particulars For the Year For the Year ended ended March 31, 2012 March 31, 2011

i) Letter of Credit opened 192.23 196.46

ii) Guarantees given bv the Bankers on behalf of the company 1.25 0.00

iii) Income tax demands disputed by Company pending in appeal. 0.13 0.13

Future cash outflows in respect of liability under clause (iii) is dependent on decisions bv relevant authorities of respective disputes, in respect of clauses (i) & (ii) liability is dependent on terms agreed upon with the parties.

3. The Board of Directors have not recommended any dividend for the year.

4. Disclosure of trade payables under current liabilities is based on the information available with the Companv regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act, 2006". Amount outstanding as on March 31, 2012 to Micro, Small and Medium Enterprises on account of principal amount aggregate to Rs.276.19 Lakhs (Pr.Yr. ^230.92 Lakhs). As per the terms/ understanding with the parties, no interest is payable and hence no provision has been made for the same.

5. The Companv has one segment of activity namelv "Surgical Sutures and Medical Devices".

6. Employee Benefits

As required by Accounting Standard-15 'Employee Benefits' the disclosures are as under :

6.1. Defined Contribution Plans

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Employees'Pension Scheme (EPS) with the government, and certain state plans such as Employees' State Insurance(ESI). PF and EPS cover substantially all regular employees and the ESI covers certain workers. Contributionsare made to the Government's funds. While both the employees and the Company pay predeterminedcontributions into the Provident Fund and the ESI Scheme, contributions into the Pension fund is made only bythe Company. The contributions are normally based on a certain proportion of the employee's salary. During the year, the Company has recognised the following amounts in the Account:

6.2. Defined Benefit Plans

Gratuity: The Company makes annual contributions to Employees' Group Gratuity-cum Life Assurance (Cash Accumulation) Scheme of LIC, a funded defined benefit plan for qualifying employees. The scheme provides for payment to vested employees as under:

6.2.1. On normal retirement / early retirement / withdrawal / resignation:

As per the provisions of Payments of Gratuity Act, 1972 with vesting period of 5 years of service.

6.2.2. On the death in service:

As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

Death Benefit : The Company provides for death benefit, a defined benefit plan (death benefit plan) to certain categories of employees. The death benefit plan provides a lump sum payment to vested employees on death, being compensation received from the insurance company and restricted to limits set forth in the said plan. The death benefit plan is non funded.

The estimate of future increase in compensation levels, considered in the actuarial valuation, have been taken on account of inflation, seniority, promotion and other relevant factors such as supply & demand in the employment market. The above information has been certified by the actuary and relied upon by the auditors.

6.3. Leave Encashment:

No Provision has been made in the accounts towards encashment of earned leaves not availed by the employees upto March 31, 2012. Since their encashment as per the rules of the company does not fall due on the same date. The same shall be accounted for as and when paid.

7. Excise dutv related to differences between closing and opening stock and other adjustments are stated under operating and her expenses. Excise duty related to turnover is reduced from the Gross Revenue from Operations.

8. Figures unless stated specific are in lakhs.

9. As per the best estimate of the management, no provision is required to be made as per Accounting Standard (AS) 29 "Provision, Contingent Liabilities and Contingent Assets" as notified by the Companies (Accounting Standards) Rules 2006, in respect of any present obligation as a result of a past event that could lead to a probable outflow of resources which would be required to settle the obligation.

10. Research and Development expenditure:

No Revenue expenses are incurred on research and development during the year.

11. The Company has not granted any loan/advances in the nature of loans, as stipulated in the clause 32 of the Listing Agreement with the Stock Exchanges. For this purpose, the loans to employees as per the Company's policy, security deposits paid towards premises taken on leave and license basis have not been considered.

12. The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosures made in the financial statements. Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2011

1). There are no contingent liabilities as certified by the Management.

2). In the opinion of the Board of Directors the current assets and loans and advances have a value on realisation in the ordinary course of business, at least equal to the amounts at which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

3). Debit balances in the accounts of suppliers and others are subject to confirmation and reconciliation.

4). Creditors for Goods and Expenses includes Rs.23091657/- (Previous year Rs.15168490/-) due to Micro, Small & Medium Enterprise. Micro, Small & Medium Enterprise having outstanding for more than 30 days and exceeding Rs.1.00 lakh each. (M/s. Akshay Printers, M/s. Sanfran Inc., M/s. Seal -O- Pack, M/s. Surgi Pack (India) Pvt. Ltd. & M/s. Quality Needles (P) Ltd.)

5). Segment Reporting - Accounting Standard (AS 17)

The Company has only one business as primary segment i.e. manufacturing of Medical Devices - Surgical Sutures etc.

6). Figures have been rounded of to the nearest rupee.

7). Previous year's figures have been regrouped and rearranged wherever necessary.

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Mar 31, 2010

1). There are no contingent liabilities as certified by the Management.

2). In the opinion of the Board of Directors the current assets and loans and advances have a value on realisation in the ordinary course of business, at least equal to the amounts at which these are suited and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

3). Debit balances in the accounts of suppliers and others are subject to confirmation and reconciliation.

4). During the year the company has not provided for Deferred Tax Asset, Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can be realised in future The Net effect of Deferred Tax Asset of Rsr3,16 lakhs pertaining to earlier periods has been written back in accordance with Accounting Standard 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India.

5). Creditors for Goods and Expenses includes Rs.15168490/- {Previous year Rs. 1 5107651) due to Micro, Small & Medium Enterprise. Micro, Small & Medium Enterprise having outstanding for more than 30 days and exceeding Rs,1.00 lakh each. (M/s. Akshay Printers, M/s. Sanfran Inc., M/s. Seal -O Pack, M/s, Surgi Pack (India) Pvt Ltd. & M/s. Quality Needles (P Ltd.)

6). Retirement Benefits :

In accordance with Accounting Standard 15 on Employees Benefits as notified by the Companies (Accounting Standards) Rules, 2006, the following disclosures have been made:

ii. The details of post-retirement benefit plans for gratuity are given below which is certified by the actuary and relied upon by the auditors:

7). Segment Reporting - Accounting Standard (AS 17)

The Company has only one business as primary segment i.e. manufacturing of Medical Devices - Surgical Sutures etc.

8) Figures have been rounded of to the nearest rupee.

9) Previous years figure have been regrouped and rearranged necessary.