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A Oneindia Venture

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Notes to Accounts of Century Extrusions Ltd.

Mar 31, 2025

j) Provisions, Contingent liabilities and Contingent Assets

Provisions are recognised when there is a present obligation 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 reliable estimate can be made. Provisions are not discounted to its present value and
are determined based on the best estimate required to settle the obligation at each Balance Sheet date. These are reviewed at each Balance
Sheet date and adjusted to reflect the best current estimate.

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

Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never be realised.
However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and is recognised.

k) Foreign currency transactions and translations

Items included in the financial statements are measured using the currency of the primary economic environment in which the company
operates (the functional currency). The company''s financial statements are presented in Indian rupee (INR), which is also the company''s
presentation and financial currency. These financial statements are presented in Indian rupees.

Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect
at the balance sheet date. The gains or losses resulting from such translations are included in net profit in the statement of profit and loss. NonÂ¬
monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange
rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign
currency and measured at historical cost are translated at the exchange rate prevalent at the date of the transaction.

Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period
in which the transaction is settled. Revenue, expense and cashflow items denominated in foreign currencies are translated into the relevant
functional currencies using the exchange rate in effect on the date of the transaction.

Forward Exchange Contracts

The premium or discount arising at the inception of forward exchange contracts is amortised as expense or income over the life of contract.
Exchange differences on such contracts except the contracts which are long-term foreign currency monetary items, are recognised in the
statement of profit and loss in the period in which the exchange rates change, any profit and loss arising on cancellation or renewal of forward
exchange contract is recognized as income or as expense for the year.

l) Government Grant

Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be
complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related
costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts
over the expected useful life of the related asset.

When the company receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and released to profit
or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset i.e. by equal annual instalments. When
loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate,
the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value
and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is
subsequently measured as per the accounting policy applicable to financial liabilities.

m) Revenue recognition

With effect from 1 April 2018, the Company has adopted IND AS 115 ''Revenue from Contracts with Customers'' which introduces a new five-
step approach to measuring and recognising revenue from contracts with customers. Under IND AS 115, revenue is recognised on satisfaction
of performance obligation at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring

goods or services to a customer. The Company has elected to apply the Cumulative catch up method in adopting IND AS 115. In accordance
with the cumulative catch-up transition method, the comparatives have not been retrospectively adjusted. Applying the practical expedient
as given in Ind AS 115, the Company has not disclosed the remaining performance obligation related disclosures. Revenue is recognised to
the extent that it is probable that the economic benefits will flow to the Company and can be reliably measured. The Company bases its
estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

A. Sale of Goods

Revenue is recognized on satisfaction of performance obligation at an amount that reflects the consideration to which the Company
expects to be entitled in exchange for transferring goods to a customer.

B. Interest Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest income is
recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over
the expected life of the financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial asset
or to the amortised cost of a financial liability. When calculating the effective interest rate, the management estimates the expected
cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit losses. Interest
income is included in finance income in the statement of profit and loss.

n) Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the
use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value
assets. The Company recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying
assets.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available
for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs
incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are
depreciated on a straight-line basis over the lease term. If ownership of the leased asset transfers to the Company at the end of the lease
term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The
right-of-use assets are also subject to impairment.

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments
to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease
incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company
and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate.

Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce
inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date
because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities
is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease
liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future
payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an
option to purchase the underlying asset. The Company''s lease liabilities are included in Interest-bearing loans and borrowings

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases of Land & building (i.e., those leases that have
a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-
value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term
leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified
as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in revenue in the
statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added
to the carrying amount of the leased asset and recognised over the lease term on the same.

o) Income Tax

The income tax expense or credit for the year is the tax payable on the current year''s taxable income based on the applicable income tax rate
for each jurisdiction adjusted by changes in deferred tax assets and liabilities (including MAT) attributable to temporary differences and to
unused tax losses.

Deferred tax is provided using the balance sheet approach on temporary differences at the reporting date between the tax bases of assets
and liabilities and their carrying amounts for financial reporting purpose at reporting date. Deferred income tax assets and liabilities are
measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates
on deferred income tax assets and liabilities is recognized as income or expense in the year that includes the enactment or the substantive
enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against
which the deductible temporary differences and tax losses can be utilized. The Company offsets current tax assets and current tax liabilities,
where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the
asset and settle the liability simultaneously.

Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws in India, which is likely to give future economic
benefits in the form of availability of set off against future income tax liability. MAT is recognised as deferred tax assets in the Balance Sheet
when the asset can be measured reliably and it is probable that the future economic benefit associated with the asset will be realised.

p) Cash flow statement

Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature,
any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or
financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

q) Financial instruments

Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual provisions of the instruments.
Financial Assets
Initial Recognition

All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at
transaction price. Transaction cost that are directly attributable to the acquisition or issue of financial assets and financial liabilities, which are
not at fair value through profit or loss, are added to the fair value on initial recognition

Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income ("FVOQ")
or fair value through profit or loss ("FVTPL") on the basis of following:

â¢ entity''s business model for managing the financial assets and

â¢ contractual cash flow characteristics of the financial asset.

Debt Instruments

Amortised Cost

A financial asset is subsequently measured at amortise cost, if the financial asset is held within a business model, whose objective is to hold
the asset in order to collect contractual cash flow and the contractual term of financial asset give rise on specified date to cash flow that are
solely payment of principal and interest on principal amount outstanding.

Fair Value through Other Comprehensive Income

Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and collecting contractual
cash flows that are solely payments of principal and interest, are subsequently measured at fair value through other comprehensive income.
Fair value movements are recognized in the other comprehensive income (OCI). Interest income measured using the EIR method and
impairment losses, if any are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously recognised
in OCI is reclassified from the equity to ''other income'' in the Statement of Profit and Loss.

Fair Value through Profit or Loss

A financial asset is classified and measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through
OCI.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification
of the financial assets.

Financial Liabilities

Initial Recognition

Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value through profit and
loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities are held at amortised cost, using the
effective interest method.

Classification and Subsequent Measurement: Financial liabilities

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair value through profit
or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss.

Impairment of financial assets

Financial assets, other than those at FVTPL, are assessed for indicators of impairment at the end of each reporting period. The Company
recognises a loss allowance for expected credit losses on financial asset. In case of trade receivables, the Company follows the simplified
approach permitted by Ind AS 109 - Financial Instruments for recognition of impairment loss allowance. The application of simplified approach
does not require the Company to track changes in credit risk. The Company calculates the expected credit losses on trade receivables using a
provision matrix on the basis of its historical credit loss experience.

Derecognition of financial instruments

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the
contractual rights to receive the cash flows from the asset. A financial liability is derecognised when the obligation specified in the contract is
discharged, cancelled or expires.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset
the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

r) Fair value measurements

The Company measures financial instruments at fair value at each balance sheet date.

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 fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability
takes place either:

â¦ In the principal market for the asset or liability. Or

â¦ In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are

Categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement
as a whole;

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

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable.

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the fair value hierarchy as explained above.

s) Employee benefits
Defined contributions plan

Contributions to defined contribution schemes such as employees'' state insurance, labour welfare fund, employees provident fund, 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. Company''s provident fund contribution, in respect of certain employees, is made to a government administered fund and
charged as an expense to the Statement of Profit and Loss. The above benefits are classified as Defined Contribution Schemes as the Company
has no further defined obligations beyond the monthly contributions.

Defined benefit plans

The Company''s Liabilities on account of Gratuity and Earned Leave on retirement of employees are determined at the end of each financial
year on the basis of actuarial valuation certificates obtained from Registered Actuary in accordance with the measurement procedure as per
Indian Accounting Standard (Ind AS) -19., ''Employee Benefits'' The gratuity liability is covered through a policy taken by a trust established
under the group gratuity scheme with Life Insurance Corporation of India (LIC). The costs of providing benefits under these plans are also
determined on the basis of actuarial valuation at each year end. Actuarial gains and losses for defined benefit plans are recognized through
OCI in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods.

The Defined Benefit Plan can be short term or Long terms which are defined below:

(i) Short term Employee benefit

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the
end of the period in which the employees render the related service are recognised in respect of employees'' services up to the end of
the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented
as current employee benefits obligations in the balance sheet.

(ii) Long term Employee benefits

Compensated absences which are not expected to occur within 12 months after the end of the period in which the employee renders
the related services are recognized as a liability at the present value of the defined benefit obligation at the balance sheet date.

t) Segment reporting

An operating segment is a component of the Company that engages in business activities from which It may earn revenues and incur
expenses, whose operating results are regularly reviewed by the company''s chief operating decision maker to make decisions for which
discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision maker
evaluates the Company''s performance and allocates resources based on an analysis of various performance indicators by business segments
and geographic segments. The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing
of Transmission and Distribution Line as per the management. However, as per the Ind AS- 108 "Operating segments" specified under Section
133 of the Companies Act, 2013, there are no reportable operating or geographical segments applicable to the Company.

u) Borrowings

Borrowings are measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
recognised in profit or loss over the period of the borrowings using effective interest method. Fees paid on the establishment of loan facilities
are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. To the extent
there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity
services and amortised over the period of the facility to which it relates.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12
months after the reporting period. Where there is a breach of a material provision of a long-term loan arrangement on or before the end of the
reporting period with the effect that the liability becomes payable on demand on the reporting date, the entity does not classify the liability as
current, if the lender agreed, after the reporting period and before the approval of the financial statements for issue, not to demand payment
as a consequence of the breach.

v) Earnings per share

Basic earnings per share is computed by dividing the net profit for the period attributable to the equity shareholders of the Company by
the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding
during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity
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 for the period attributable to equity shareholders and the weighted
average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

w) Derivatives and Hedge Accounting

Derivatives are initially recognised at fair value and are subsequently remeasured to their fair value at the end of each reporting period. The
resulting gains / losses is recognised in the Statement of Profit and Loss immediately unless the derivative is designated and effective as a
hedging instrument, in which event the timing of recognition in profit or loss / inclusion in the initial cost of non-financial asset depends on
the nature of the hedging relationship and the nature of the hedged item.

The Company complies with the principles of hedge accounting where derivative contracts are designated as hedge instruments. At the
inception of the hedge relationship, the Company documents the relationship between the hedge instrument and the hedged item, along
with the risk management objectives and its strategy for undertaking hedge transaction, which can be a fair value hedge or a cash flow hedge.

a) Fair value hedges -

Changes in fair value of the designated portion of derivatives that qualify as fair value hedges are recognised in profit or loss immediately,
together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair
value of the designated portion of hedging instrument and the change in fair value of the hedged item attributable to the hedged risk
are recognised in the Statement of Profit and Loss in the line item relating to the hedged item.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer
qualifies for hedge accounting. The fair value adjustment to the carrying amount of the hedged item arising from the hedged risk is
amortised to profit or loss from that date.

b) Cash flow hedges -

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in the
other comprehensive income. The gains / losses relating to the ineffective portion is recognised in the Statement of Profit and Loss.

Amounts previously recognised and accumulated in other comprehensive income are reclassified to profit or loss when the hedged
item affects the Statement of Profit and Loss. However, when the hedged item results in the recognition of a non-financial asset, such
gains / losses are transferred from equity (but not as reclassification adjustment) and included in the initial measurement cost of the
non-financial asset.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer
qualifies for hedge accounting. Any gains/losses recognised in other comprehensive income and accumulated in equity at that time
remains in equity and is reclassified when the underlying transaction is ultimately recognised. When an underlying transaction is no
longer expected to occur, the gains / losses accumulated in equity is recognised immediately in the Statement of Profit and Loss.

Mar 31, 2024

a) The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

b) The Company does not have any Holding/ Ultimate Holding Company. As such, no shares are held by them or their Subsidiaries/Associates.

c) There are NIL (Previous year NIL) shares reserved for issue under option and contracts / commitment for the sale of shares/disinvestment.

d) During the period of five years immediately preceding the reporting date: No shares were bought back.No shares were issued for consideration other than cash. No bonus shares were issued.

e) There are NIL (Previous year NIL) securities convertible into Equity/ Preference Shares.

f) There are NIL (Previous year NIL) calls unpaid including calls unpaid by Directors and Officers as on the balance sheet date.

g) There are NIL (Previous year NIL) for forfeited shares as on the balance sheet date.

h) Rights/Preferences/Restrictions attached to Equity Shares

The Company has only one class of equity shares having a par value of ? 1 per share. Each holder of equity shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholder in the ensuring Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

Nature of other equity

Securities Premium- This Reserve represents the premium on issue of shares and can be utilized in accordance with the provisions of the Companies Act, 2013.

Retained Earnings- This Reserve represents the cumulative profits of the Company and effects of remeasurement of defined benefit obligations. This Reserve can be utilized in accordance with the provisions of the Companies Act, 2013.

Other Comprehensive Income- This Reserve represents the effects of remeasurement of defined benefit obligations.

Term loans from banks as on 31.03.2024 are secured, in respect of respective facilities by way of :

(i) Nature of security for Secured Borrowings

a. Rs. 68 lacs includes Rs.68 lacs shown in Current maturities of Long Term Borrowings from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on pari paru basis along with State Bank of India, Punjab & Sind Bank and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders and personal guarantees of the Chairman and Managing Director.

b. Guarantee Emergency Credit Line (GECL) loan of Rs. 20 lacs includes Rs.20 lacs shown in Current maturities of Long Term Borrowings from Punjab and Sind Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

c. Guarantee Emergency Credit Line (GECL) loan of Rs. 60 lacs includes Rs. 22 lacs shown in Current maturities of Long Term Borrowings from Punjab and Sind Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

d. Guarantee Emergency Credit Line (GECL) loan of Rs. 90 lacs includes Rs. 67 lacs shown in Current maturities of Long Term Borrowings from Axis bank to meet Working Capital Term Loan(WCTL) requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

e. Guarantee Emergency Credit Line (GECL) loan of Rs. 48 lacs includes Rs.32 lacs shown in Current maturities of Long Term Borrowings from Punjab National Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

f. Guarantee Emergency Credit Line (GECL) loan of Rs. 148 lacs includes Rs.56 lacs shown in Current maturities of Long Term Borrowings from Punjab National Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

i. Guarantee Emergency Credit Line (GECL) loan of Rs. 387 lacs includes Rs.140 lacs shown in Current maturities of Long Term Borrowings from SBI Bank to meet Working Capital Term Loan(WCTL) requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

j. Vehicle loans from banks are secured, in respect of respective facilities by way of Rs. 17 lacs includes Rs.2 lacs shown in Current maturities of Long Term Borrowings from Punjab National are secured by hypothecation of vehicles purchased out of the said loan.

Term Loan from banks as on 31.03.2023 are secured, in respect of respective facilities by way of:-(i) Nature of Security for Secured Borrowings

a. Rs. 32 lacs includes Rs.32 lacs shown in Current maturities of Long Term Borrowings from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on pari paru basis

along with State Bank of India, Punjab & Sind Bank and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders and personal guarantees of the Chairman and Managing Director.

b. Rs. 132 lacs includes Rs.64 lacs shown in Current maturities of Long Term Borrowings from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on pari paru basis along with State Bank of India, Punjab & Sind Bank and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders and personal guarantees of the Chairman and Managing Director.

c. Rs. 97 lacs includes Rs. 94 lacs shown in Current maturities of Long Term Borrowings from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on pari paru basis along with State Bank of India, Punjab & Sind Bank and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders and personal guarantees of the Chairman and Managing Director.

d. Guarantee Emergency Credit Line (GECL) loan of Rs. 66 lacs includes Rs.22 lacs shown in Current maturities of Long Term Borrowings from Punjab and Sind Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

e. Guarantee Emergency Credit Line (GECL) loan of Rs. 66 lacs includes Rs. 49 lacs shown in Current maturities of Long Term Borrowings from Punjab and Sind Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

f. Guarantee Emergency Credit Line (GECL) loan of Rs. 157 lacs includes Rs. 52 lacs shown in Current maturities of Long Term Borrowings from Axis bank to meet Working Capital Term Loan(WCTL) requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

g. Guarantee Emergency Credit Line (GECL) loan of Rs. 97 lacs includes Rs.32 lacs shown in Current maturities of Long Term Borrowings from Punjab National Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

h. Guarantee Emergency Credit Line (GECL) loan of Rs. 167 lacs includes Rs.55 lacs shown in Current maturities of Long Term Borrowings from Punjab National Bank to meet Working Capital requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

i. Guarantee Emergency Credit Line (GECL) loan of Rs. 422 lacs includes Rs. 141 lacs shown in Current maturities of Long Term Borrowings from SBI Bank to meet Working Capital Term Loan(WCTL) requirement under COVID-19 situation with Existing Primary and Collateral Security but excluding Personal/Corporate Guarantees.

j. Vehicle loans from banks are secured, in respect of respective facilities by way of Rs. 20 lacs includes Rs.3 lacs shown in Current maturities of Long Term Borrowings from Punjab National Bank are secured by hypothecation of vehicles purchased out of the said loan.

Borrowings from banks are secured, in respect of respective facilities by way of :

a. Working Capital Loan from State Bank of India, Axis Bank, Dhanlaxmi Bank and Punjab National Bank is secured by way of - i) First charge on of stock and receivables, Pledged of Fixed Deposit of Rs. 40 Lacs and all other current assets of the Company, present and future on pari-passu basis among consortium Bankers. ii) First charge on entire fixed assets of the Company on pari-passu basis among consortium Bankers after reducing Punjab and Sind Bank share. iii) by personal guarantees of the Chairman & Managing Director.

b. Security for Current Maturity of Long Term Debts- Refer Security stated in Notes 15.

Borrowings from banks are secured, in respect of respective facilities by way of :

The Company''s Earnings Per Share (âEPS'') is determined based on the net profit / (loss) attributable to the shareholders'' of the . Basic earnings per share is computed using the weighted average number of shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year including share options, except where the result would be anti-dilutive.

Note - 34. MATERIAL ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of the Company''s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Judgements : In the process of applying the Company''s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using other valuation techniques. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm''s length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a DCF model. The cash flows are derived from the budget for the next five years and do not include restructuring activities that the Company is not yet committed to or significant future investments that will enhance the asset''s performance of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes.

Note - 35 COMMITMENTS & CONTINGENT LIABILITIES (A) Capital Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for:

At 31st March 2024, the Company had commitments of relating to estimated amount of completion of Property, Plant & Equipment-

1	31 March 2024	31 March 2023
Estimated amount of contracts remaining to be executed and not provided for (Net of Advances)	1518	192
(B) Contingent Liabilities
Descriptions	31 March 2024	31 March 2023
(i) Guarantees / Letter of Credits	1710	1253
(ii) Other Money for which the Company is Contingently Liable
1. Bills Discounted with Banks	246	829
2. Employees State Insurance Demand	3	3
3. West Bengal Entry Tax	646	646
4. Income Tax	84	84

(a) Bank Guarantees outstanding Rs.280 lacs (previous year Rs.393 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs. 1430 Lacs (Previous year Rs. 860 lacs) against which Rs. 517 lacs (previous year Rs. 186 lacs) have been deposited with the Banks as Margin Money.

(b) The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of Rs. Nil Lac (Rs. 108.81) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Company''s appeal.

(c) The Divisional Bench of Hon''ble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy of West Bengal Tax on Entry of Goods into Local Areas Act, 2012 as ultra vires to the Constitution of the India. The Hon''ble High Court, further directed that the assessment proceedings should go on. In view of above and as per legal opinion obtained by the Company, the Company has written back Rs. 26 Lacs unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of Rs 646 lacs (Previous year 646 Lacs) and other consequential demand arise from assessment in considered necessary.

(d) The Income Tax Department of India raised the demand of Rs. 23 Lacs for Assessment Year 2016-17 and Rs. 61 Lacs for Assessment Year 2018-19 against which company preferred an appeal to the Commissioner of Income Tax.

These assumptions were developed by management with the assistance of independent actuarial appraisers. Discount factors are determined close to each year-end by reference to government bonds of relevant economic markets and that have terms to maturity approximating to the terms of the related obligation. Other assumptions are based on management''s historical experience.

Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service.

The amounts recognised in the balance sheet and the movements in the net defined benefit obligation over the year are as follows:

Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, mutual funds that have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued using the closing price as at the reporting period.

Level 2 : The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is inlcuded in Level 2.

Level 3 : If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

The carrying amounts of trade payables and cash and cash equivalents are considered to be the same as their fair values, due to short term nature.

The fair values for loans and security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risk.

The fair values of non-current borrowings are based on discounted cash flows using a current borrowings rate. They are classsified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.

Note - 38 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company''s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations and to support its operations. The Company''s financial assets include trade and other receivables, and cash & cash equivalents that derive directly from its operations.

The Company is exposed to market risk, credit risk and liquidity risk. The company''s senior management oversees the management of these risks. The company''s senior management is supported by a financial risk committee that advises on financial risks and the appropriate financial risk governance framework for the Company. This financial risk committee provides assurance to the Company''s senior management that the Company''s financial risk activities are governed by appropriate policies and procedure and that financial risks are identified, measured and managed in accordance with the Company''s policies

and risk objectives. The Board of Directors reviews and agrees policies for managing each risk, which are summarised as below:

(A) Market Risk

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

a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long term debt obligations with floating interest rates. The Company is carryg its borrowings primarily at variable rate. The Company expects the variable rate to decline, accordingly the Company is currently carrying its loans at variable interest rates.

b) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument leading to a financial loss. The Company is exposed to credit risk from its financing activites, including deposits with banks and financial institutions and other financial instruments.

(i) Trade Receivables

"Customer credit risk is managed by each business location subject to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed and individual credit limits are defined in accordance with the assessment both in terms of number of days and amount. Any Credit risk is curtailed with arrangements with third parties . An impairment analysis is performed at each reporting date on an individual basis for major clients. In addtion, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 09. The Company does not hold collateral as security.

(ii) Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with the Company''s policy. Investment of surplus funds are made only with approved counterparties . The Company''s maximum exposure to credit risk for the components of the balance sheet at 31 March 2024 and 31 March 2023 is the carrying amount as illustrated in Note 37.

(B) Liquidity Risk

Liquidity risk refer to the risk that the Company may not able to meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per the requirement. The Company has obtained adequate fund and non fund based working capital limits from its bankers. The Company maintains its surplus funds, if any, in deposits / balances which carry low market risk. The Company believes that the working capital is sufficient to meet its current requirements. Accordingly, no liquidity risk is perceived.

Disclosure of Related Party Transactions provides the information about the Company''s structure. The following tables provides the total amount of transactions that have been entered into with related parties for the relevant financial year.

Terms and Conditions of Transactions with Related Parties:

The sales and purchase from related parties are made on terms equivalent to those that prevail in arm;s length transactions. Outstanding balance at the year-end are unsecured and interest free and settlement occurs in cash. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

In line with Circular No 04/2015 issued by Ministry of Corporate Affairs dated 10th March, 2015, loans given to employees as per the Company''s policy are not considered for the purposes of disclosure under Section 186(4) of the Companies Act, 2013.

There are no loans or advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are: a) repayable on demand or b) without specifying any terms or period of repayment.

Note - 43 SEGMENT REPORTING

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the company''s chief operating decision maker to make decisions for which discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision maker evaluates the Company''s performance and allocates resources based on an analysis of various performance indicators by business segments and geographic segments.

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximise the shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Group monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade payables, less cash and cash equivalents.

In order to achieve this overall objective, the Group''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period. No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2024 and preceding years.

There is no material impact on other comprehensive income or the basic and diluted earning per share.

The Company has lease contracts for Warehouse and office spaces used in its operations. These generally have lease terms between 1 and 5 years.The Company''s obligations under its leases are secured by the lessor''s title to the leased assets.

A CSR Committee has been formed by the Company as per the provisions of Section 135 of the Companies Act, 2013. The details of the expenditure being incurred during the year on CSR activities are as under

Note - 50

Pre Goods & Service Tax (GST), the Company was enjoying certain benefits under Industrial Promotion Scheme of State Government. Post GST, pending notification by the State Government, on prudent basis, the Company has not recognised any income under the scheme from 1st July 2017 as the amount thereof is presently uncertainable. State Government has not yet approved the eligibility of assistance amounting to Rs. 64.66 lakhs for the period from April 2017 to June 2017. Being uncertainity over receipt of such amount, the Company has also not recognised the same.

Additional Regulatory Information

Schedule III also requires some additional regulatory information to be provided in financial statements. These are as below:

Note - 51 Registration of charges or satisfaction with Registrar of Companies (ROC)

The Company has registered charges or satisfaction with Registrar of Companies within the statutory time period.

Note - 52 COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES

The Company has no subsidiary company, therefore nothing to report regarding compliance with layers of Companies under Clause (87) of the Section 2 of the Act read with the Companies (Restriction on numbers of Layers) Rule, 2017.

Notes. 54 Utilisation of Borrowed funds and share premium:

The Company neither advance of loaned or investment funds nor received any funds (either borrowed funds or share premium or any other sources or kind of funds) to/from any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise).

Note 55.The Company has not given any Corporate Guarantee to any one during the financial year.

Note 56.The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

Note 57. The Company has borrowings from banks on the basis of security of current assets and quarterly returns or statements of current assets filed by the Company with banks are materially in agreement with the books of accounts.

Note 58. No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Immovable Property held in the name of Company

Note 59. The Company has not declared willful defaulter by any bank or financial institution or others lender.

Note 60. Previous period figures have been re-grouped / re-classified, where ever considered necessary.

The accompanying notes form an integral part of these financial statements As per our report of even date attached

Mar 31, 2018

The Company Information

Century Extrusions Limited (âthe Companyâ) is one of Indiaâs large pure play aluminium extrusion manufacturers. The Company enjoys a number of first mover advantages comprising a comprehensive understanding of the aluminium and aluminium extrusions market, reputed brand, low historical asset cost and a strong customer base, among others. The Company possesses in-house facilities for die manufacturing, melting and casting of billets and the extrusions manufacturing facility with three press lines. The Company manufacturers extrusions for varied applications (architectural, hardware, road transport - vehicles, railways, electrical and electronic applications, engineering applications, automotive sector, consumer durables, Defence applications and irrigation, among others).

The company is a public limited company incorporated and domiciled in India and has its registered office at Kolkata (West Bengal) with regional marketing offices in Bangalore, Chennai, Coimbatore, Delhi, Hyderabad, Kanpur, Kolkata & Mumbai. The Companyâs production facility is located at Kharagpur (West Bengal) in eastern part of India, close to leading primary aluminium manufacturers in India. Its shares are listed on National Stock Exchange & Bombay Stock Exchange.

The financial statements for the year ended March 31, 2018 were approved by the Board of Directors and authorised for issue on 28th May 2018.

a) The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

b) The Company does not have any Holding/ Ultimate Holding Company. As such, no shares are held by them or their Subsidiaries/Associates.

c) There are NIL (Previous year NIL) shares reserved for issue under option and contracts / commitment for the sale of shares/disinvestment.

d) During the period of five years immediately preceding the reporting date:

i. No shares were issued for consideration other than cash.

ii. No bonus shares were issued.

iii. No shares were bought back.

e) There are NIL (Previous year NIL) securities convertible into Equity/ Preference Shares.

f) There are NIL (Previous year NIL) calls unpaid including calls unpaid by Directors and Officers as on the balance sheet date.

g) Rights/Preferences/Restrictions attached to Equity Shares

The Company has only one class of equity shares having a par value of ^ 1 per share. Each holder of equity shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholder in the ensuring Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

No loans have been guaranteed by the directors and others. There are no bonds which are redeemed during the year. There is no default as on the balance sheet date in the repayment of borrowings and interest thereon.

Term loans from banks are secured, in respect of respective facilities by way of :

(i) Nature of security for Secured Borrowings

a. Rs. 146 lacs includes Rs.20 lacs shown in Current maturities of Long Term Borrowings (refer note no.20) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Punjab & Sind Bank and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

b. Rs. 42.40 Lacs (out of sanctioned amount of Rs. 635 lacs) from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on Pari Paru Basis along with State Bank of India, Punjab & Sind Bank and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders.

Vehicle loans from banks are secured, in respect of respective facilities by way of :

a. Rs. 1.70 lacs shown in Current maturities of Long Term Borrowings (refer note no.20) from Axis Bank and State Bank of India are secured by hypothecation of vehicles purchased out of the said loan.

Rate of interest- The Companyâs total borrowings from banks and others have a effective weighted average rate of 12.45% per annum calculated using the interest rate effective as on 31 March 2018.

Term loans from banks are secured, in respect of respective facilities by way of :

(i) Nature of security for Secured Borrowings

a. Rs. 166 lacs includes Rs.20 lacs shown in Current maturities of Long Term Borrowings (refer note no.7) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

b. Rs. 0.40 Lacs (out of sanctioned amount of Rs. 635 lacs) from Punjab & Sind Bank is secured by First Charge on entire fixed assets of the Company on Pari Paru Basis along with Axis, State Bank of India and Government of West Bengal and second charge on the entire current assets both present and future of the company on Pari Pasu basis with the other lenders.

Vehicle loans from banks are secured, in respect of respective facilities by way of :

a. Rs. 1 lacs shown in Current maturities of Long Term Borrowings (refer note no.20) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

1. Security disclosure for the outstanding short-term borrowings as on 31 March 2018 :

Borrowings from banks are secured, in respect of respective facilities by way of :

a. Working Capital Loan from Banks is secured -

i) By first Hypothecation of stock and receivables and all other current assets of the Company, present and future on Pari-passu basis among consortium Bankers.

ii) By second charge on entire fixed assets of the Company on Pari-passu basis among consortium Bankers along with Government of West Bengal for Sales Tax Loan.

iii) By personal guarantees of the Chairman & Managing Director.

b. Channel Financing from Yes Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director of the Company.

c. Channel Financing from Axis Bank Ltd is secured by personal guarantee of the Chairman & Managing Director of the Company.

2. Security disclosure for the outstanding short-term borrowings as on 31 March 2017 :

Borrowings from banks are secured, in respect of respective facilities by way of :

a. Working Capital Loan from Banks and Foreign Currency Demand Loan are secured -

i) By first Hypothecation of stock and receivables and all other current assets of the Company, present and future on Pari-passu basis among consortium Bankers.

ii) By second charge on entire fixed assets of the Company on Pari-passu basis among consortium Bankers along with Government of West Bengal for Sales Tax Loan. iii) By personal guarantees of the Chairman & Managing Director.

c. Channel Financing from Axis Bank Ltd is secured by personal guarantee of the Chairman & Managing Director of the Company.

1. Earnings Per Equity Share

The Companyâs Earnings Per Share (âEPSâ) is determined based on the net profit / (loss) attributable to the shareholdersâ of the . Basic earnings per share is computed using the weighted average number of shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year including share options, except where the result would be anti-dilutive.

2. Significant Accounting Judgements, Estimates and Assumptions

The preparation of the Companyâs financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Judgements : In the process of applying the Companyâs accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

Fair value measurement of financial instruments When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using other valuation techniques. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial

Impairment of non-financial assets Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at armâs length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a DCF model. The cash flows are derived from the budget for the next five years and do not include restructuring activities that the Company is not yet committed to or significant future investments that will enhance the assetâs performance of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes.

Estimated amount of contracts remaining to be executed on capital account and not provided for:

At 31st March 2018, the Company had commitments of relating to estimated amount of completion of Property, Plant & Equipment-

(a) Bank Guarantees outstanding Rs. 275 lacs (previous year Rs.233 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs. 1104 Lacs (Previous year Rs. 1092 lacs) against which Rs. 164 lacs (previous year Rs. 163 lacs) have been deposited with the Banks as Margin Money.

(b) The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of â Nil Lac (Rs. 108.81) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Companyâs appeal.

(c) The Divisional Bench of Honâble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy of West Bengal Tax on Entry of Goods into Local Areas Act, 2012 as ultra vires to the Constitution of the India. The Honâble High Court, further directed that the assessment proceedings should go on. In view of above and as per legal opinion obtained by the Company, the Company has written back Rs. 26 Lacs unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of Rs 673 lacs (Previous year 619 Lacs) inclusive of unpaid amount of Rs. 54 Lacs for current year and other consequential demand arise from assessment in considered necessary.

(d) The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs. 3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs. 3257 lacs ( Previous year Rs. 2817 lacs) till 17th February, 2017. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a. The license was valid till 17th February 2017. The company has applied for extention of time limit to fulfill the Export Obligations to the DGFT Department. Further, the Company has applied for extension of time to fullfill the Export Obligations to Policy Relaxation Cell (PRC).

(e) The Company has received Excise duty demand of Rs. 2.43 Lacs for the years 2010-2011 against which the Company has preferred appeals before the Commissioner of Central Excise (Appeals) under section 35 of the Central Excise Act,1944.

(f) The Company has received Service tax demand Rs. 1.05 lacs for the years 2011-2012, against which the Company has preferred appeals before the Commissioner of Central Excise (Appeals) under section 35 of the Central Excise Act, 1944.

(g) The Company has received Value Added Tax and Central Sales Tax demand of Rs. 2.77 Lacs and Rs. 17.23 Lacs for the years 2014-2015 against which the Company has preferred appeals before Sr. Joint Commissioner of Sales Tax.

Finance Lease Commitments

Future minimum rentals payable under non-cancellable finance leases as at 31st March are, as follows:

Leave Obligations

The leave obligations cover the Companyâs liability for earned leaves. The amount of provision of INR 3 lacs (Previous year 4 lacs, 1 April 2016 - 6 lacs) is presented as current, since the Company does not have an unconditional right to defer settlement for any of these obligations.

Gratuity

Level 3 : If one or more of the significant inputs is not based on observable market data, the instrument is included in level

3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

(b) Fair value of financial assets and liabilities measured at amortised cost and FVTPL

The carrying amounts of trade payables and cash and cash equivalents are considered to be the same as their fair values, due to short term nature. The fair values for loans and security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risk. The fair values of non-current borrowings are based on discounted cash flows using a current borrowings rate. They are classsified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.

3. Financial Risk Management Objectives and Policies

The Companyâs principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Companyâs operations and to support its operations. The Companyâs financial assets include trade and other receivables, and cash & cash equivalents that derive directly from its operations

The Company is exposed to market risk, credit risk and liquidity risk. The companyâs senior management oversees the management of these risks. The companyâs senior management is supported by a financial risk committee that advises on financial risks and the appropriate financial risk governance framework for the Company. This financial risk committee provides assurance to the Companyâs senior management that the Companyâs financial risk activities are governed by appropriate policies and procedure and that financial risks are identified, measured and managed in accordance with the Companyâs policies and risk objectives. The Board of Directors reviews and agrees policies for managing each risk, which are summarised as below:

(A) Market Risk

a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Companyâs exposure to the risk of changes in market interest rates relates primarily to the Companyâs long term debt obligations with floating interest rates. The Company is carryg its borrowings primarily at variable rate. The Company expects the variable rate to decline, accordingly the Company is currently carrying its loans at variable interest rates.

Interest Rate Sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings affected. With all other variable held constant, the Companyâs profit/(loss) before tax is affected through the impact on floating rate borrowings, as follows:

b) Foreign Currency Risks

Foreign currency risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Companyâs exposure in foreign currency is in loans denominated in foreign currency. The Company is resricting its exposure of risk in change in exchange rates by way of Forward Contracts.

Foreign Currency Sensitivity

The following table demonstrate the sensitivity to a reasonably possible change in USD and EUR exchange rates, with all other variables held constant. The impact on the Companyâs profit/(loss) before tax is due to changes in the fair value of monetary assets and liabilities.

c) Credit Risk

(i) Trade Receivables

Customer credit risk is managed by each business location subject to the Companyâs established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed and individual credit limits are defined in accordance with the assessment both in terms of number of days and amount. Any Credit risk is curtailed with arrangements with third parties. An impairment analysis is performed at each reporting date on an individual basis for major clients. In addtion, a large number of minor receivables are grouped into homogenous groups andd assessed for impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 10. The Company does not hold collateral as security.

(ii) Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Companyâs treasury department in accordance with the Companyâs policy. Investment of surplus funds are made only with approved counterparties . The Companyâs maximum exposure to credit risk for the components of the balance sheet at 31 March 2017 and 31 March 2016 is the carrying amount as illustrated in Note 36.

(B) Liquidity Risk

The table below summarises the maturity profile of the Companyâs financial liabilities based on contractual undiscounted payments -

4. Related Party Disclosure (As per Ind AS-24)

(a) Enterprise over which Key Management Personnel and their Relatives exercise Significant Influence. Name of Enterprise Century Aluminium Mfg. Co. Ltd Paramsukh Properties Pvt. Ltd Kutir Udyog Kendra ( India ) Ltd CAMCO Multi Metal Ltd.

Atash Peoperties And Finance Limited Jeco Exports & Finance Limited Vintage Capital Market Limited

(b) Key Management Personnel:

Name of KMP Designation

i) Shri Vikram Jhunjhunwala Chairman and Managing Director

ii) Shri Madan Gopal Todi Independent Director

iii) Shri Raj Kumar Sharma Independent Director

iv) Shri Arun Kumar Hajra Independent Director

v) Smt Suhita Mukhopadhyay Independent Director

vi) Shri J. K. Malpani President

vii) Shri Rohit Kumar Company Secretary

Relativeâs Name Relation

i) Smt Sita devi jhunjhunwala Mother of Shri Vikram Jhunjhunwala

ii) Ms. Moulshree Jhunjhunwala Wife of Shri Vikram Jhunjhunwala

iii) Shri Shivanshu Jhunjhunwala Son of Shri Vikram Jhunjhunwala

iv) Shri Rishik Jhunjhunwala Son of Shri Vikram Jhunjhunwala

v) Smt. Deepa Malpani Wife of Shri J. K. Malpani

vi) Ms. Shikha Malpani Mother of Shri Aditya Vardhan Agarwal

Disclosure of Related Party Transactions provides the information about the Companyâs structure. The following tables provides the total amount of transactions that have been entered into with related parties for the relevant financial year.

Terms and Conditions of Transactions with Related Parties:

Note 5 Capital Management

For the purpose of the Companyâs capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Companyâs capital management is to maximise the shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Group monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade payables, less cash and cash equivalents.

In order to achieve this overall objective, the Groupâs capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period. No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2018 and 31 March 2017.

Note 6 First Time Adoption of Ind AS

These financial statements, for the year ended 31 March 2018, are the first the Company has prepared in accordance with Ind AS. For periods up to and including the year ended 31 March 2016, the Company prepared its financial statements in accordance with accounting standards notified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (Indian GAAP). Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending on 31 March 2018, together with the comparative period data as at and for the year ended 31 March 2017, as described in the summary of significant accounting policies. In preparing these financial statements, the Companyâs opening balance sheet was prepared as at 1 April 2016, the Companyâs date of transition to Ind AS. An explanation of how the transition from previous GAAP to Ind AS has affected the Companyâs financial position, financial performance and cash flows is set out in the following tables and notes.

Exemptions and Exceptions Availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

a) Ind AS Optional exemptions

Ind AS 101 requires an entity to reconcile equity, total comprehensive income and cash flows for prior periods. The following tables represent the reconciliations from previous GAAP to Ind AS.

Disclosure required by Ind AS 101 - First time adoption of Ind AS

Reconciliation of Equity as at April 01, 2016 and March 31, 2017:

Notes to First-Time Adoption:

Note : 1 Borrowings

Under Indian GAAP, transaction costs incurred in connection with borrowings are amortised upfront and charged to profit or loss for the period. Under Ind AS, transaction cost are included in initial recognition amount of financial liability and charged to profit or loss using the effective interest method.

Note : 2 Security Deposits

Under the previous GAAP, interest free security deposits (that are refundable in cash on completion of the term) are recorded at their transaction value. Under Ind AS, all financial assets are required to be recognised at fair value, Accordingly, the Company has fair valued these security deposits under Ind AS. Difference between the fair value and transaction value of the security deposit has been recognised as prepaid rent.

Note : 3 Loans/Other Financial Assets/ Other Current Assets

As per Schedule III, Security Deposits are to be classified under Loans or Other Non-current/Current Assets respectively. Accordingly, Security Deposits which are financial in nature are classified under Loans and other deposits are classified under Non-current/ Current Assets respectively. Under IGAAP, Loans and Advances were shown together under Loans and Advances. However, as per Schedule III, Advances are classified under other Non-current/Current Assets.

Note : 4 Provison for Expected Credit Loss

Impairment for trade receivable and interest receiable is measured in Ind AS based on life time expected credit losses. Expected credit loss allowance is measured based on historical credit loss experience, defaults, bankruptcy and forward looking information where relevant adjusted for probability of recovery. Under Previous GAAP, provision for trade receivable is measured based on factors such as age of receivables, defaults etc. adjusted for probability of recovery.

Note : 5 Defined Benefit Liabilities

Both under Indian GAAP and Ind AS, the Company recognised costs related to its post-employment defined benefit plan on an actuarial basis. The entire cost, including actuarial gains and losses, are charged to profit or loss. Under Ind AS, remeasurements [comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets excluding amounts included in net interest on the net defined benefit liability] are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI.

Note : 6 Deferred Tax

Under Previous GAAP, deferred taxes were recognised for the tax effect of timing differences between accounting profit and taxable profit for the year using the income statement approach. Under Ind AS, deferred taxes are recognised using the balance sheet for future tax consequences of temporary differences between the carrying value of assets and liabilities and their respective tax bases. The above difference, together with the consequential tax impact of the other Ind AS transitional adjustments lead to temporary differences. Deferred tax adjustments are recognised in correlation to the underlying transaction either in retained earnings or through other comprehensive income.

Note : 7 Finance Lease on Land

At the commencemnet of the lease term, Company has recognised finance leases as assets and liabilities in their balance sheets at amounts equal to the fair value of the leased property or if lower, the present value of the minimum lease payments, each determined at the inception of the lease. The discount rate is used in calculating the present value of the minimum lease payments is the average borrowing rate.

Note : 8 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.

Note 7. The major components of Income Tax Expense and the Reconciliation of Expense based on the Domestic Effective Tax Rate and the Reported Tax Expense in Profit or Loss are as follows :-

Note 8. Segment Reporting

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the companyâs chief operating decision maker to make decisions for which discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision maker evaluates the Companyâs performance and allocates resources based on an analysis of various performance indicators by business segments and geographic segments.

The accompanying notes form an integral part of these financial statements As per our report of even date attached

Mar 31, 2017

Note 1

SHARE CAPITAL

a. Terms / Rights attached to Equity Shares :

The Company has only equity shares having a par value of Re.1/- per share. Each holder of Equity Shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholders in the ensuring Annual General Meeting. In the event of liquidation of the Company,the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts.

b. Reconciliation of the shares outstanding at the beginning and at the end of the reporting period :

The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

c. The Company is not a Subsidiary Company.

d. The Company has neither issued any Bonus Shares nor alloted any shares pursuant to a contract without payment received in cash nor bought back any shares during the financial year and in the immediately preceding five financial years.

e. Details of Shareholders holding more than 5% Shares in the Company :

f. There is no Shares reserved for issue under options.

g. There is no Convertible Securities outstanding at the end of the reporting period.

2.1 Term Loan from Banks referred above to the extent of:

a. Rs. 146 lacs includes Rs.20 lacs shown in Current maturities of Long Term Borrowings (refer note no.7) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Axis Bank and Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

2.2 Vehicle Loan from Banks referred above to the extent of:

a. Rs.1 lacs shown in Current maturities of Long Term Borrowings (refer note no.7) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 19 quarterly installments of Rs. 5 Lacs each,commencing from September, 2016 and Rs.17.50 Lacs each from September,2019. Last installment due in March,2021. Rate of interest 14.50% p.a. as at year end.

Repayable in 26 equal quarterly installments of Rs. 25 Lacs each,commencing from 6 months from the date of disbursement. Last installment due in December,2023. Rate of interest 12.25% p.a. as at year end.

Repayable in 60 equated monthly installments of Rs. Nil (8336) each, commencing from August, 2013. Last installment due in July,2018. Rate of interest 10.25% p.a. as at year end.

a. Working Capital Loan from Banks and Foreign Currency Demand Loan (SBI) are secured - i) By first Hypothecation of stock and receivables and all other current assets of the Company, present and future on Pari-passu basis among consortium Bankers. ii) By second charge on entire fixed assets of the Company on Pari-passu basis among consortium Bankers along with Government of West Bengal for Sales Tax Loan. iii) By personal guarantees of the Chairman & Managing Director.

c. Channel Financing from Axis Bank Ltd is secured by personal guarantee of the Chairman & Managing Director of the Company.

EMPLOYEE BENEFITS

Employee Benefits have been provided as per provisions ofRevised Accounting Standard 15 (AS15) Defined Contribution Plan

Contribution to Defined Contribution Plan, recognized as expenses for the year are as under:

The Company contributes 12% of salary of all eligible employees towards Provident Fund managed by the Central Government.

Defined Benefit Plan

The Century Extrusions Employeeâs Gratuity Fund managed by a Trust is a defined benefit plan.The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market.The above information is certified by an Actuary.

The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical results of return on plan assets and the Companyâs policy for plan assets management.

SEGMENT REPORTING

The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing of Transmission and Distribution Line Hardware. However, the Company does not fall under any of the criteria laid down under AS -17 and hence segment reporting is not applicable.

Note 3

In the absence of confirmation from parties and pending reconciliation the debit and credit balances in regard to sundry debtors have been taken as reflected in books. In the opinion of Directors, sundry debtors and current assets, if realized in the ordinary course of business, have the value at which they are stated in the balance sheet.

CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

i) Bank Guarantees outstanding Rs.223 lacs (previous year Rs.223 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs.1092 Lacs (Previous year Rs.1101 lacs) against which Rs.163 lacs (previous year Rs.160 lacs) have been deposited with the Banks as Margin Money.

ii) The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of Rs. Nil Lac (Rs. 108.81 P.Y.) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Companyâs appeal.

iii) The Divisional Bench of Honâble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy ofWest Bengal Tax on Entry of Goods into Local Areas Act, 2012 as ultra vires to the Constitution of the India.The Honâble High Court, further directed that the assessment proceedings should go on.In view of above and as per legal opinion obtained by the Company, the Company has written back Rs.26 lacs unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of Rs.686 Lacs (Previous year 519 Lacs) inclusive of unpaid amount of Rs 167 Lacs for current year and other consequestional demand arise from assessment is considered necessary.

iv) The Company has received Service tax demand Rs.1.05 lacs for the years 2015-2016, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,1944.

v) The Company has received Excise duty demand of of Rs.1.13 lacs and 2.43 Lacs respectively for the years 2015-2016, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,1944

vi) The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs.3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs.3257 lacs (Previous year Rs.2817 lacs) till 17th February, 2017. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a. The license was valid till 17th February 2017. The company is in the process of making application for extention of time limit to fulfill the Export Obligation to the DGFT Department.

Note 4

The Company has paid Rs. 39 Lacs (Net off Sales Tax Deposit and Recovered from Customers) under the West Bengal Sales Tax (Settlement of Dispute) Rules, 1999 against the demand from Sales Tax of Rs.46 Lacs, Rs. 63 Lacs, 63 Lacs & 44 Lacs respectively for the years 2009-2010, 2010-2011, 2011-12 and 2012-13. the same is shown under the head âExtraordinary Itemsâ under Profit & Loss Account.

Previous yearâs figures have been regrouped/rearranged, wherever considered necessary.

NOTE 5

BASIS OF PREPERATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India, The Company has prepared these financial statements to comply in all material respects with the notified provisions of the Companies Act, 2013 and the Companies Rules as prescribed. The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which provision for impairment is made and revaluation is carried out.

Mar 31, 2016

1. Terms / Rights attached to Equity Shares :

The Company has only equity shares having a par value of Re.1/- per share. Each holder of Equity Shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholders in the ensuring Annual General Meeting. In the event of liquidation of the Company, the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts.

2. Reconciliation of the shares outstanding at the beginning and at the end of the reporting period :

The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

3. The Company is not a Subsidiary Company.

4. The Company has neither issued any Bonus Shares nor allotted any shares pursuant to a contract without payment received in cash nor bought back any shares during the financial year and in the immediately preceding five financial years.

5. Details of Shareholders holding more than 5% Shares in the Company :

6. There is no Shares reserved for issue under options.

7. There is no Convertible Securities outstanding at the end of the reporting period.

8 Term Loan from Banks referred above to the extent of :

a. Rs. 81 lacs includes Rs.15 lacs shown in Current maturities of Lo Term Borrowings (refer note no.8) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Axis Bank and Government of West Bengal and Second charge on the entire current assets both present and future of the Company pari passu basis with other Corporate Loan lenders. Further, the loan has been guaranteed by the personal guarantee of the Chairman & Managing Director and one other Director of the Company.

9 Vehicle Loan from Banks referred above to the extent of :

a. Rs.2 lacs includes Rs.l lac shown in Current maturities of Long Borrowings (refer note no.8) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan. 5 Repayable in 9 quarterly installments of Rs.5 Lacs each, commencing from September, 2016 and Rs.7.50 Lacs each from September, 2019. Last installment Pane in March,2021 Rate of interest 14.50% p.a. as at year end.

Repayable in 60 equated monthly installments of Rs. Nil (8336) each, commencing from August, 2013. Last installment due in July,2018. Rate of interest 10.25% p.a. as at year end.

10. Working Capital Loan from Banks are secured - i) By first Hypothecation of stock and receivables and all other current assets of the Company, present and future on Pari-passu basis among consortium Bankers. ii) By second charge on entire fixed assets of the Company on Pari-passu basis among consortium Bankers along with Government of West Bengal for Sales Tax Loan. iii) By personal guarantees of the Chairman & Managing Director and one other Director of the company.

11. Channel Financing from Yes Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

Defined Benefit Plan

The Century Extrusions Employeeâs Gratuity Fund managed by a Trust is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

SEGMENT REPORTING

12. In the absence of confirmation from parties and pending reconciliation the debit and credit balances in regard to sundry debtors have been taken as reflected in books. In the opinion of Directors, sundry debtors and current assets, if realized in the ordinary course of business, have the value at which they are stated in the balance sheet.

13. The Company has received Sales T ax demand of Rs.8 Lacs, Rs.46 Lacs, Rs. 63 lacs and 63 lacs respectively for the years 2004-2005, 2009 - 2000, 2000-2001 and 2001-02. against which the Company has preferred appeals before the higher authorities.

14. The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of Rs. Nil Lac (Rs. 108.81P) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Companyâs appeal.

15. The Divisional Bench of Honâble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy of West Bengal Tax on Entry of Goods into Local Areas Act, 202 as ultra virus to the Constitution of the India. The Honâble High Court, further directed that the assessment proceedings should go on. In view of above and as per legal opinion obtained by the Company, the Company has written back Rs.26 lacs unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of Rs.459 Lacs (Previous year 330 Lacs) inclusive of unpaid amount of Rs 29 Lacs for current year and other consequestional demand arise from assessment is considered necessary.

16. The Company has received Service tax demand Rs.105 lacs for the years 2015-2016, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,1944.

17. The Company has received Excise duty demand of of Rs.O lacs and 2.43 Lacs respectively for the years 205-206, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,9 44

18. The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs.3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs.287 lacs (Previous year Rs.2454 lacs) till 31st March, 2016. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a.

BASIS OF PREPERATION OF FINANCIAL STATEMENTS:

Mar 31, 2015

Note : 1

a. Terms / Rights attached to Equity Shares :

The Company has only equity shares having a par value of Re.l/- per share. Each holder of Equity Shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholders in the ensuring Annual General Meeting. In the event of liquidation of the Company,the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts.

b. Reconciliation of the shares outstanding at the beginning and at the end of the reporting period :

The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

c. The Company is not a Subsidiary Company.

d. The Company has neither issued any Bonus Shares nor alloted any shares pursuant to a contract without payment received in cash nor bought back any shares during the financial year and in the immediately preceding five financial years.

Note : 2

a. Rs. 76 lacs includes Rs.51 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank is secured by first charge on entire fixed assets of the Company on Pari passu basis along with State Bank of India and Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 12 quarterly installments of Rs. 12 Lacs each,commencing from December, 2013. Last installment due in September, 2016. Rate of interest 14.40% p.a. as at year end.

b. Rs. 92 lacs includes Rs.67 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Axis Bank and Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 12 quarterly installments of Rs. 12 Lacs each,commencing from December, 2013. Last installment due in September, 2016. Rate of interest 14.50% p.a. as at year end.

Note : 3

a. Rs.3 lacs includes Rs. 1 lac shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs. Nil (10577) each, commencing from July,2012. Last installment due in June,2017. Rate of interest 11.59% p.a. as at year end.

b. Rs.3 lacs includes Rs.l lac shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs. Nil (8336) each, commencing from August,2013. Last installment due in July,2018. Rate of interest 10.25% p.a. as at year end.

c. Rs.9 lacs includes Rs.3 lac shown in Current maturities of Long Term Borrowings (refer note no.9) from Kotak Mahindra Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 36 equated monthly installments of Rs. Nil (32503) each, commencing from November, 2014. Last installment due in October, 2017. Rate of interest 10.49% p.a. as at year end.

Note : 4

a. Working Capital Loan from Banks are secured - i) By first Hypothecation of stock and receivables and all other current assets of the Company, present and future on Pari-passu basis among consortium Bankers. ii) By second charge on entire fixed assets of the Company on Pari-passu basis among consortium Bankers along with Government of West Bengal for Sales Tax Loan, iii) By personal guarantees of the Chairman & Managing Director and one other Director of the company.

b. Channel Financing from ICICI Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

c. Channel Financing from Yes Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

Note : 5

Current Maturities of Long Term Borrowing includes

Term Loan from Bank referred above to the extent of:

Rs. 13 lacs from Axis Bank is secured by first charge on entire fixed assets of the Company on Pari passu basis along with State Bank of India and Government of West Bengal and Second charge on the entire current assets of the Company on Pari passu basis with other member Banks, boths present and future. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 12 quarterly installments, First 11 Installments of Rs. 17 Lacs each,commencing from July, 2012. Last installment of Rs. 13 Lacs due in April 2015. Rate of interest 14.40% p.a. as at year end.

9.2 Vehicle Loan from Banks referred above to the extent of:

Rs.2 lacs from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs. Nil (17038) each, commencing from May,2011. Last installment due in April 2016. Rate of interest 10.59% p.a. as at year end.

9.3 Term Loan from Government of West Bengal referred above to the extent of:

Rs.160 lacs from Govt, of West Bengal is secured by first charge on entire fixed assets of the Company both present and future on Pari-passu basis along with Axis Bank and State Bank of India. The Company is defaulted in repayment of Rs.80 lacs to the Govt, of West Bengal.

Repayable in 5 Yearly installments of Rs. 80 Lacs each,commencing from November, 2010. Last installment due in November 2014. Rate of Interest 8.75%.

9.4 Sales Tax Loan from Government of West Bengal referred above to the extent of

Rs.196 lacs from Govt, of West Bengal is secured by way of residuary charge on all fixed assets of the Company, both present and future, situated at Company's factory at Kharagpur in West Bengal.

Repayable in 8 Yearly installments of Rs. 39 Lacs each,commencing from March, 2011. Last installment due in March 2018.Rate of Interest 8.75%.

Note : 6

Defined Benefit Plan

The Century Extrusions Employee's Gratuity Fund managed by a Trust is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

Note : 7

SEGMENT REPORTING

The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing of Transmission and Distribution Line Hardware. However, the Company does not fall under any of the criteria laid down under AS -17 and hence segment reporting is not applicable.

Note : 8

RELATED PARTY DISCLOSURES

a) Names of related parties and related party transactions

Name of Related Party Relationship

Century Aluminium Mfg. Co. Ltd : Associated Concern

Paramsukh Properties Pvt. Ltd : Associated Concern

Alfa Aluminium ( P) Ltd : Associated Concern

Kutir Udyog Kendra (India ) Ltd : Associated Concern

CAMCO Multi Metal Ltd. : Associated Concern

b) Key Management Personnel & their relatives

(i) Mr. M.P. Jhunjhunwala : Chairman & Managing Director

Relatives of Mr. M.P. Jhunjhunwala:

Mrs. Sita Devi Jhunjhunwala : Wife

Mr. Vikram Jhunjhunwala : Son

Mrs. Saroj Saraf : Daughter

Mrs. Shashi Khaitan : Daughter

Mrs. Sarita Modi : Daughter

(ii) Mr. J.K. Malpani : President

Relatives of Mr. J.K. Malpani

Mrs. Deepa Malpani : Wife

Ms. Shikha Malpani : Daughter

(iii) Mr. Vikram Jhunjhunwala : Director

Relatives of Mr. Vikram Jhunjhunwala

Mr. Shivanshu Jhunjhunwala : Son

Note : 9

CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED

(i) Contingent Liabilities

(a) Guarantees / Letter of Credits * 1,437 1,445

(b) Other money for which the company 55 133 is contingently liable:

1. Bills Discounted with Banks 281 218

2. Sales Tax demand** 3 3

3. Employees State Insurance demand*** 330 189

4. West Bengal Entry Tax ****

5. Export obligation under EPCG*****

Amount not determinable 2106 1988

* Bank Guarantees outstanding Rs. 351 lacs (previous year Rs.258 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs. 1086 Lacs (Previous year Rs. 1187 lacs) against which Rs. 166 lacs (previous year Rs. 164 lacs) have been deposited with the Banks as Margin Money.

** The Company has received Sales Tax demand of Rs 10 lacs, Rs.8 Lacs, Rs.10 lacs, Rs.66 lacs, Rs. 12 lacs, Rs.3 lacs, Rs.46 Lacs, Rs. 63 lacs and 63 lacs respectively for the years 2003-2004,2004-2005,2005-2006,2006-2007,2007-08, 2008-2009, 2009-2010, 2010-2011 and 2011-12 against which the Company has preferred appeals before the higher authorities.

*** The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of Rs. Nil Lac (Rs. 108.81 P) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Company's appeal.

**** The Divisional Bench of Hon'ble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy of West Bengal Tax on Entry of Goods into Local Areas Act, 2012 as ultra vires to the Constitution of the India. The Hon'ble High Court, further directed that the assessment proceedings should go on. In view of above and as per legal opinion obtained by the Company, the Company has written back Rs. 26 lacs unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of Rs. 330 Lacs (Previous year 189 Lacs) inclusive of unpaid amount of Rs 141 Lacs for current year and other consequestional demand arise from assessment is considered necessary.

***** The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs. 3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs. 2454 lacs ( Previous year Rs 1868 lacs) till 31st March, 2015. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a.

Note : 10

The Company received a letter from National Stock Exchange of India Limited (NSE) dated February 27, 2015 to restate its financial statements for the financial year ended 31st March 2013 in respect of Dies and Moulds pursuant to clause 5(d) (ii) of circular No.CIR/CFD/DIL/7/2012 dated August 13,2012 read with Circular No.CIR/CFD/DIL/9/2013 dated June 05, 2013. The Company has requested NSE for a personal hearing on this matter. Pending outcome, the aforesaid financial statements have not been restated and accounting of Dies and Moulds have been carried out on the same basis as followed in the previous year.

Note 11

Previous year's figures have been regrouped/rearranged, wherever considered necessary.

Note 12

BASIS OF PREPERATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India, The Company has prepared these financial statements to comply in all material respects with the notified provisions of the Companies Act, 2013 and the Companies Rules as prescribed. The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which provision for impairment is made and revaluation is carried out.

Mar 31, 2014

1.1 Term Loan from Banks referred above to the extent of :

a. Rs. 375 lacs includes Rs.300 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Axis Bank and Government of West Bengal and Second charge on the entire current assets of the Company on Pari passu basis with other member Banks, boths present and future. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

a. Rs. 80 lacs includes Rs.67 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank is secured by first charge on entire fixed assets of the Company on Pari passu basis along with State Bank of India and Government of West Bengal and Second charge on the entire current assets of the Company on Pari passu basis with other member Banks, boths present and future. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 20 quarterly installments of Rs. 75 Lacs each,commencing from July, 2010. Last installment due in April 2015. Rate of interest 14.10% p.a. as at year end.

Repayable in 12 quarterly installments, First 11 Installments of Rs. 17 Lacs each, commencing from July, 2012. Last installment of Rs. 13 Lacs due in April 2015. Rate of interest 14.50% p.a. as at year end.

a. Rs. 125 lacs includes Rs.50 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank is secured by first charge on entire fixed assets of the Company on Pari passu basis along with State Bank of India and Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 12 quarterly installments of Rs. 12 Lacs each,commencing from December, 2013. Last installment due in September, 2016. Rate of interest 14.50% p.a. as at year end.

a. Rs. 137 lacs includes Rs.50 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from State Bank of India is secured by first charge on entire fixed assets of the Company on Pari passu basis along with Axis Bank and Government of West Bengal and Second charge on the entire current assets both present and future of the Company on Pari passu basis with other Corporate Loan lenders. Futher, the loan has been guaranteed by the personal gurantee of the Chairman & Managing Director and one other Director of the Company.

Repayable in 12 quarterly installments of Rs. 12 Lacs each,commencing from December, 2013. Last installment due in September, 2016. Rate of interest 14.85% p.a. as at year end.

1.2 Vehicle Loan from Banks referred above to the extent of :

a. Rs.4 lacs includes Rs. 1 lacs shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs.Nil (17038) each, commencing from May, 2011. Last installment due in April 2016. Rate of interest 10.59% p.a. as at year end.

b. Rs.3 lacs includes Rs. 1 lac shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs.Nil (10577) each, commencing from July,2012. Last installment due in June,2017. Rate of interest 11.59% p.a. as at year end.

c. Rs.3 lacs includes Rs. 1 lac shown in Current maturities of Long Term Borrowings (refer note no.9) from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs.Nil (8336) each, commencing from August,2013. Last installment due in July,2018. Rate of interest 10.25% p.a. as at year end.

Note 2

a. Working Capital Loan from Banks are secured - i) By first mortgage on all the immovable properties and a first charge by way of hypothecation of plant & machinery of the Company, both present and future, (except the fixed assets created out of the term loan on which the lender has exclusive first charge and the other consortium banks along with Govt. of West Bengal have pari passu second charge situated at Company''s factory at Kharagpur in West Bengal). ii) By first charge by hypothecation of stocks, receivables and other current assets. iii) By personal guarantees of the Chairman & Managing Director and one other Director of the Company.

b. Channel Financing from ICICI Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

c. Channel Financing from Yes Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

2.1 Current Maturities of Long Term Borrowing includes

a. Vehicle Loan from Banks referred above to the extent of :

a. Rs.2 lacs from Axis Bank are secured by hypothecation of vehicles purchased out of the said loan.

Repayable in 60 equated monthly installments of Rs.Nil (22876) each, commencing from December, 2009. Last installment due in November 2014. Rate of interest 9.00% p.a. as at year end.

2.2 Term Loan from Government of West Bengal referred above to the extent of :

a) Rs.20 lacs from Govt. of West Bengal is secured by first charge on entire fixed assets of the Company both present and future on Pari- passu basis along with Axis Bank and State Bank of India.

Repayable in 5 Yearly installments of Rs. 20 Lacs each,commencing from July, 2010. Last installment due in July 2014. Rate of Interest 8.75%.

a) Rs.160 lacs from Govt. of West Bengal is secured by first charge on entire fixed assets of the Company both present and future on Pari- passu basis along with Axis Bank and State Bank of India. The Company is defaulted in repayment of Rs.80 lacs to the Govt. of West Bengal.

Repayable in 5 Yearly installments of Rs. 80 Lacs each,commencing from November, 2010. Last installment due in November 2014. Rate of Interest 8.75%.

2.3 Sales Tax Loan from Government of West Bengal referred above to the extent of :

Rs.196 lacs from Govt. of West Bengal is secured by way of residuary charge on all fixed assets of the Company, both present and future, situated at Company''s factory at Kharagpur in West Bengal.

Repayable in 8 Yearly installments of Rs. 39 Lacs each,commencing from March, 2011. Last installment due in March 2018.Rate of Interest 8.75%.

4.1 Fixed Deposit Rs.304 lacs (Previous Year Rs.320 lacs) is pledged with Banks as Margin Money

4.2 Figures in brackets represent previous year figure.

Mar 31, 2013

Note 1

EMPLOYEE BENEFITS

Employee Benefits have been provided as per provisions of Revised Accounting Standard 15 (AS 15).

Defined Contribution Plan

Contribution to Defined Contribution Plan, recognized as expenses for the year are as under:

Defined Benefit Plan

The Century Extrusions Employee''s Gratuity Fund managed by a Trust is a defined benefit plan.The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

Note 2

SEGMENT REPORTING

The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing of Transmission and Distribution Line Hardware.However, the Company does not fall under any of the criteria laid down under AS -17 and hence segment reporting is not applicable.

Note 3

Contingent liabilities and commitments (to the extent not provided for) Rs. In lacs Rs. In lacs As at 31.03.2013 As at 31.03.2012

i) Contingent Liabilities

(a) Guarantees/Letter of Credits* 1440 1497

(b) Other money for which the company is contingently liable:

1. Bills discounted with Banks 412 178

2. Sales Tax demand** 155 122

3. Employees State Insurance demand*** 3 3

4. Export obligation under EPCG**** Amount not determinable 2010 1800

ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)6 254

6 254

2016 2054

* Bank Guarantees outstanding Rs. 251 lacs (previous year Rs.309 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs. 1189 Lacs (Previous year Rs. 1188 lacs) against which Rs. 185 lacs (previous year Rs. 159 lacs) have been deposited with the Banks as Margin Money.

** The Company has received Sales Tax demand of Rs 10 lacs, Rs.8Lacs, Rs.10 lacs, Rs.66 lacs, Rs. 12 lacs, 3 lacs and Rs.46 Lacs respectively for the years 2003-2004,2004-2005,2005-2006,2006-2007,2007-08,2008-2009 and 2009-2010 against which the Company has preferred appeals before the higher authorities.

*** The Employees State Insurance Corporation (ESI) has raised a demand of Rs.3 lacs plus interest of Rs. Nil Lac (Rs. 108.81 P) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Company''s appeal.

**** The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs. 3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs. 1206 lacs till 31st March, 2013. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a.

Note 4

Due to high life of Dies and its Tools corresponding to manufacturing of particular profile during the year, the management has reviewed the policy of charging the value of Dies and its Tools to Revenue Account and based on such review, it has been decided to value such dies and its Tools at lower of valuation at the year end carried out by approved valuer considering its residual useful life or net realisable value.

As a result of this change in accounting method for Dies and its Tools, the loss for the year is understated by Rs. 173 lacs and the Reserve and Surplus is overstated by Rs.l 16 Lacs.

Note 5

PREVIOUS YEARF1GURES

Previous year''s figures have been regrouped/rearranged, wherever considered necessary.

Note 6

BASIS OF PREPERATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India. The Company has prepared these financial statements to comply in all material respects with the notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which provision for impairment is made and revaluation is carried out.

Mar 31, 2012

Note 1

a. Terms/Rights attached to Equity Shares :

The Company has only equity shares having a par value of Re. 1/- per share. Each holder of Equity Shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholders in the ensuring Annual General Meeting. In the event of liquidation of the Company, the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts.

b. Reconciliation of the shares outstanding at the beginning and at the end of the reporting period :

The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year.

c. The Company is not a Subsidiary Company.

d. The Company has neither issued any Bonus Shares nor allot any shares pursuant to contract without payment received in cash nor bought back any shares during the financial year and in immediately preceding five financial years.

f. There are no Shares reserved for issue under options.

g. There is no Convertible Securities outstanding at the end of the reporting period.

2.1 Term Loan from Banks referred above to the extent of:

a. Rs. 900 lacs includes Rs. 225 Repayable in 20 quarterly lacs shown in Current maturities installments of Rs. 75 Lacs each, of Long Term Borrowings (refer commencing from July, 2010. Last note no. 9) from State Bank of installment due in April 2015. India is secured by exclusive Rate of interest 14.25% p.a. as first charge over fixed assets at year end. created out of this term loan and second charge on the current assets of the company. Further, the loan has been guaranteed by the personal guarantee of the Chairman & Managing Director and one other Director of the Company.

b. (i) Rs. 6 lacs includes Rs. Repayable in 12 quarterly 6 lacs shown in Current installments, First 11 maturities of Long Term Installments of Rs. 17 Lacs Borrowings ( refer note no. 9) each, commencing from July, from Axis Bank is secured by 2012. Last installment of exclusive first charge over Rs. 17 Lacs due in April fixed assets created out of 2013, Rate of interest 14.25% this term loan and Pari passu p.a. as at year end. second charge on the entire current assets of the company both present and future, Further, the loan has been guaranteed by the personal guarantee of the Chairman & Managing Director and one other Director of the Company.

b. (ii) Balance sanctioned amount of Term loan from Axis Bank is availed/utilised in the financial year 2012-2013.

2.2 Vehicle Loan from Banks referred above to the extent of:

a. Rs.Nil lac (Rs.7711 /-) Repayable in 60 equated monthly includes Rs. Nil lac installments of Rs. Nil Lac (Rs. 7711/-) shown in Current (Rs. 7711/-) each, commencing maturities of Long Term from June, 2007. Last Borrowings (refer note no. 9) installment due in April 2012. from ICICI Bank is secured by Rate of interest 12.89% p.a. hypothecation of vehicle as at year end. purchased out of the said loan.

b. Rs.l lac includes Rs. 1 lac Repayable in 59 equated shown in Current maturities of monthly installments of Long Term Borrowings ( refer Rs. Nil lac (Rs.7039) each, note no. 9) from HDFC Bank is commencing from November, secured by hypothecation of 2008. Last installment due vehicle purchased out of the in September 2013. Rate said loan. of interest 13.85% p.a. as at year end.

c. Rs.4 lacs includes Rs. 4 Repayable in 48 equated lacs shown in Current monthly installments of Rs. maturities of Long Term Nil Lac (Rs. 43,144) each, Borrowings ( refer note no. commencing from February, 9) from State Bank of India 2009. Last installment due are secured by hypothecation in January 2013. Rate of of vehicle purchased out of interest 14.25% p.a. as at the said loan. year end. d. Rs.2 lacs includes Rs. 1 Repayable in 48 equated lac shown in Current monthly installments of Rs. maturities of Long Term Nil lac (Rs. 9122) each, Borrowings (refer note no. commencing from May, 2009. 9) from State Bank of India Last installment due in are secured by hypothecation April 2013. Rate of interest of vehicle purchased out of 14.25% p.a. as at year end. the said loan.

e. Rs.6 lacs includes Rs. 2 Repayable in 60 equated lac shown in Current monthly installments of Rs. maturities of Long Term Nil Lac (Rs. 17038) each, Borrowings ( refer note no. commencing from May, 2011. 9) from Axis Bank are Last installment due in secured by hypothecation of April 2016. Rate of vehicle purchased out of interest 10.59% p.a. as the said loan. at year end.

f. Rs.7 Lacs includes Rs. 1 Repayable in 60 equated lac shown in Current monthly installments of Rs. maturities of Long Nil Lac (Rs. 22876) each, Term Borrowings (refer note commencing from December,2009. no. 9) from Axis Bank are Last installment due in secured by hypothecation of November 2014. Rate of vehicle purchased out of interest 9.00% p.a. as at the said loan. year end.

2.3 Term Loan from Government of West Bengal referred above to the extent of:

a. Rs.60 lacs includes Rs. Repayable in 5 Yearly 20 lacs shown in Current installments of Rs. 20 Lacs maturities of Long each, commencing from July, Term Borrowings ( refer 2010. Last installments due note no. 9) from Govt. of in July 2014. Rate of West Bengal is secured by Interest 8.75% less 2% per first mortgage on all the annum rebate for timely immovable properties and a repayment. first charge by way of hypothecation of plant & machinery of the Company, both present and future, (except the fixed assets created out of the term loan from State Bank of India on which the bank has exclusive first charge and the other consortium banks along with Government of West Bengal have pari passu second charge) situated at Company factory at Kharagpur in West Bengal, ranking pari passu with fund and non fund Credit Limits which the Company has availed from State Bank of India and Axis Bank Ltd.

b. Rs.240 lacs includes Rs. Repayable in 5 Yearly 80 lacs shown in Current installments of Rs. 80 maturities of Long Term Lacs each, commencing Borrowings ( refer note no. from November, 2010. 9) from Govt. of West Bengal Last installment due in is secured by first mortgage November 2014. Rate of on all the immovable Interest 8.75% less 2% properties and a first charge per annum rebate for by way of hypothecation of timely repayment. plant & machinery of the Company, both present and future, (except the fixed assets created out of the term loan from State Bank of India on which the bank has exclusive first charge and the other consortium banks along with Government of West Bengal have pari passu second charge) situated at Company factory at Kharagpur in West Bengal, ranking pari passu with fund and non fund Credit Limits which the Company has availed from State Bank of India and Axis Bank Ltd.

2.4 Sales Tax Loan from Government of West Bengal referred above to the extent of:

a. Rs.236 lacs includes Rs. Repayable in 8 Yearly 39 lacs shown in Current installments of Rs. 39 maturities of Long Term Lacs each, commencing Borrowings ( refer note from March, 2011. Last no. 9) from Govt. of West installments due in Bengal is secured by way of March 2018. Rate of residuary charge on all Interest 8.75% less 2% fixed assets of the Company, per annum rebate for both present and future, timely repayment. situated at Company's factory at Kharagpur in West Bengal.

2.5 Rs. 105 lacs includes Rs. 79 lacs shown in Current maturities of Long Term Borrowings (refer note no. 9) Deferred Sales Tax is interest free and has been received by the Company under the West Bengal Incentive Schemes, 1993. The scheme is eligible for deferment of payment of sales tax for 8 years commencement from May, 2005. Last installment due in May, 2013.

Note 3

a. Working Capital Loan from Banks are secured - i) By first mortgage on all the immovable properties and a first charge by way of hypothecation of plant & machinery of the Company, both present and future, (except the fixed assets created out of the term loan on which the lender has exclusive first charge and the other consortium banks along with Govt, of West Bengal have pari passu second charge situated at Company's factory at Kharagpur in West Bengal). ii) By first charge by hypothecation of stocks, receivables and other current assets. iii) By personal guarantees of the Chairman & Managing Director and one other Director of the Company.

b. Buyers Credit arrangement which is funded by the Bank's overseas branches is secured by local branch of Bank issuing the letter of comfort by blocking Letter of credit facility to that extent.

c. Channel Financing from ICICI Bank Ltd. is secured against pledge of fixed deposit to the extent of 15% of sanctioned limit. It is further secured by personal guarantee of the Chairman & Managing Director and one other director of the Company.

Note 4

EMPLOYEE BENEFITS

Employee Benefits have been provided as per provisions of Revised Accounting Standard 15 (AS 15).

Defined Benefit Plan

The Century Extrusions Employee's Gratuity Fund managed by a Trust is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

Note 5

SEGMENT REPORTING

The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing of Transmission and Distribution Line Hardware. However, the Company does not fall under any of the criteria laid down under AS-17 and hence segment reporting is not applicable.

Note 6

RELATED PARTY DISCLOSURES

a) Names of related parties and related party transactions

Name of Related Party Relationship

Century Aluminium Mfg. Co. Ltd : Associated Concern

Vintage Capital Markets Ltd : Associated Concern

Paramsukh Properties Pvt. Ltd : Associated Concern

Jeco Exports and Finance Ltd : Associated Concern

CAMCO Multi Metal Ltd : Associated Concern

Alfa Aluminium (P) Ltd : Associated Concern

Vintage Securities Ltd : Associated Concern

Kutir Udyog Kendra (India) Ltd : Associated Concern

b) Key Management Personnel & their relatives

i) Shri M.P. Jhunjhunwala : Chairman & Managing Director

Relatives of Shri M.P. Jhunjhunwala:

Smt. Sita Devi Jhunjhunwala : Wife

Shri Vikram jhunjhunwala : Son

Smt. Saroj Saraf : Daughter

Smt. Shashi Khaitan : Daughter

Smt. Sarita Modi : Daughter

ii) Shri Kailash Baheti : Chief Executive Officer & ( Upto 17.10.2011) Chief Financial Officer

Relatives of Shri Kailash Baheti

Shri Shankar Lal Baheti : Father

Smt. Bimla Devi Baheti : Mother

Smt. Shashi Baheti : Wife

Ms. Ankita Baheti : Daughter

Ms. Apoorva Baheti : Daughter

iii) Shri J.K. Malpani : President

Relatives of Shri J.K. Malpani

Smt. Deepa Malpani : Wife

Ms. Shikha Malpani : Daughter

c) Disclosure of related party transactions Current Year ( 2011-2012) Nature of relationship/transactions.

Note 7

Contingent liabilities and commitments (to the extent not provided for)

Rs. In lacs Rs. In lacs As at 31.03.2012 As at 31.03.2011 i) Contingent Liabilities

(a) Guarantees* 1497 1674

(b) Other money for which the company is contingently liable

1. Bills discounted with Banks 178 117

2. Sales Tax demand** 123 106

3. Employees State Insurance demand*** 3 3

4. Export obligation under EPCG**** Amount not determinable

1801 1900 ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for 254 27

254 27

2055 1927

* Bank Guarantees outstanding Rs. 309 lacs (previous year Rs. 273 lacs) and letters of credit issued by Banks on behalf of the Company Rs. 1188 Lacs (Previous year 1401 lacs) against which Rs. 159 lacs (previous year Rs. 169 lacs) have been deposited with the Banks as Margin Money.

** The Company has received Sales Tax demand of Rs. 10 lacs, Rs. 9 Lacs, Rs. 10 lacs, Rs. 66 lacs, Rs. 11 lacs and Rs. 17 Lacs respectively for the years 2003-2004, 2004-2005, 2005-2006, 2006-2007, 2007-08 and 2008-2009 against which the Company has preferred appeals before the higher authorities.

*** The Employees State Insurance Corporation (ESI) has raised a demand of Rs. 3 lacs plus interest of Rs. Nil lac (Rs. 108.81) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The honorable court has stayed the demand till final disposal of Company's appeal.

**** The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs. 3486 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of Rs. 656 lacs till 31st March 2012. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a.

Note 8

PREVIOUS YEAR FIGURES

The Company was using pre-revised Schedule VI to the Companies Act 1956, for preparation and presentation of its financial statements till the year 31st March, 2011. During the year ended 31st march, 2012, the revised schedule VI notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year figures to conform to this year's classification. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of balance sheet.

Note 9

BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which provision for impairment is made and revaluation is carried out.

The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

Mar 31, 2010

1. Contingent Liabilities not provided in respect of:

a. Estimated amount of contracts (net of advance) remaining to be executed on Capital Account and not provided for as on 31st March 2010 is Rs 85.33 lacs (Previous year Rs 817.38 lacs).

b. The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of Rs. 3486.49 lacs, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. During the year the Company has made export for the value of Rs. 197.79 lacs.If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a.

c. Bank Guarantees outstanding Rs.244.82 lacs (previous year Rs. 111.68 lacs) and Letters of Credit issued by Banks on behalf of the Company Rs 940.00 lacs (Previous year 683.04 lacs) against which Rs. 119.64 lacs (previous year Rs. 92.06 lacs) have been deposited with the Banks as Margin Money.

d. Bills discounted with banks Rs 215.74 lacs (previous yearRs. 129.391acs) and with third party Rs 26.70 lacs. (Previous year Nil).

e. The Company has received Sales Tax demand of Rs. 10.04 lacs, Rs. 8.34 lacs, Rs. 10.29 lacs and Rs. 66.06 lacs respectively for the years 2003-2004,2004-2005, 2005-2006 and 2006-2007 against which the Company has preferred appeals before the higher authorities.

f. The Employees State Insurance Corporation (ESI) has raised a demand of Rs.2.76 lacs plus interest of Rs. 108.81 per day w.e.f. 1.1.2004 for the period 1999- 2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The honorable court has stayed the demand till final disposal of Companys appeal.

3. The Term Loan and Working Capital Facilities are secured as follows:

a. Soft Term Loan of Rs. 480.00 lacs (Previous year Rs. 480.00 lacs) from Govt, of West Bengal is secured by first mortgage on all the immovable properties and a first charge by way of hypothecation of plant & machinery of the Company, both present and future, (except the fixed assets to be created out of the term loan of Rs. 1500.00 lacs from State Bank of India on which the bank would have exclusive first charge and the other consortium banks along with Govt, of West Bengal would have pari passu second charge) situated at Companys factory at Kharagpur in West Bengal, ranking pari passu with fund and non-fund balances of Rs. 1926.09 lacs which the Company has availed from State Bank of India and Axis Bank Ltd. A sum of Rs 80.00 lacs (Previous year Nil) is repayable within next 12 months towards loan amount.

b. Sales Tax Term Loan of Rs.314 lacs from Govt, of West Bengal is secured by way of residuary charge on all fixed assets of the Company, both present and future, situated at Companys factory at Kharagpur in West Bengal. A sum of Rs 39.25 lacs (Previous year Nil) is repayable within next 12 months towards loan amount.

c. Fund Based and Non-fund based working capital balances of Rs. 1926.09 lacs availed from State Bank of India and Axis Bank Ltd. are secured -

i) By first mortgage on all the immovable properties and a first charge by way of hypothecation of plant & machinery of the Company, both present and future, (except the fixed assets to be created out of the term loan of Rs. 1500.00 lacs from State Bank of India on which the bank would have exclusive first charge and the other consortium banks along with Govt, of West Bengal would have pari passu second charge) situated at Companys factory at Kharagpur in West Bengal, ranking pari passu with Govt, of West Bengal for Soft Term Loan of Rs.480.00 lacs (Previous year Rs.480.00 Lacs).

ii) By first charge by hypothecation of stocks, receivables and other current assets

iif)By personal guarantees of the Chairman & Managing Director and one other Director of the Company.

d Term Loan of Rs. 1500.00 lacs from State Bank of India which is funded by the Bank for the expansion project (2700 MT new extrusions press line) is secured as follows:-

i) Exclusive First Charge over Fixed assets created out of this Term Loan.

ii) Second charge on the current assets of the company

iii) By personal guarantee of the Chairman & Managing Director and one other director of the Company.

A sum of Rs 300.00 lacs (Previous year Nil) is repayable within next 12 months towards loan amount.

e. Vehicle Loans from 1C1CI Bank are secured by hypothecation of vehicles purchased out of the said loan. A sum of Rs 1.32 lacs (Previous year Rs.2.77 lacs) is repayable within next 12 months towards loan amount.

f. Vehicle Loans from HDFC Bank are secured by hypothecation of vehicles purchased out of the said loan. A sum of Rs 1.68 lacs (Previous year Rs.3.00 lacs) is repayable within next 12 months towards loan amount.

g. Vehicle Loans from State Bank of India are secured by hypothecation of vehicles purchased out of the said loan. A sum of Rs 4.80 lacs (Previous year Rs.3.49 lacs) is repayable within next 12 months towards loan amount.

h. Vehicle Loan from Axis Bank Ltd.is secured by hypothecation of vehicle purchased out of the said loan. A sum of Rs.1.88 lacs (Previous year Nil) is repayable within next 12 months towards loan amount.

4. The Company is entitled to certain incentives from the Govt, of West Bengal under the West Bengal Incentive Scheme 2004 (WBIS 2004) in connection with its expansion project to manufacture 7500 MT aluminum extrusions per annum. While the Company has been duly registered under WBIS 2004, and has also received the eligibility certificate for incentives, the process of fixation of the exact value of incentives is still in progress. Pending such fixation of the eligible amount of incentives, the Company has not made any provision for incentives in the Financial Year 2009-2010.

5. The lease period of a part comprising 2.42 acres (Previous year 3.08 acres) of the companys factory land out of the total land area of 7.3171 acres at Kharagpur has expired and is pending renewal from West Bengal Industrial Infrastructure Development Corporation Ltd. (WB1IDC). The lease renewal is in process.

6. A. Loans and Advances include:

a. Rs 35.00 lacs (previous year Rs.35.00 lacs) being security deposit for office premises made to a private limited company in which a relative of two of the directors is interested as a director.

b. Rs. Nil due from an officer of the Company. Maximum balance outstanding at any time during the year is Rs.0.25 lacs.

B. Sundry Debtors include:

Rs.9.67 lacs (previous year Rs. 15.68 lacs) due from a private company in which a Director of the Company is interested as a director.

7. Cash in Foreign Currency: Cash in hand includes foreign currency in hand equivalent to Nil (Previous year 0.46 lacs)

8. The Company has provided for / paid Minimum Alternate Tax (MAT) of Rs.6.17 lacs (net of MAT adjusted during current Financial Year), Rs.30.63 lacs, Rs.63.54 lacs, and Rs.37.29 lacs for the years 2005-2006,2006-2007,2007- 2008 and 2008-2009 respectively. As per applicable provisions of the Income Tax Act, the Company is eligible to adjust the MAT against its regular Income Tax liability arising in any of the corresponding subsequent 10 financial years.

9. Disclosure of Sundry Creditors 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:

31.032010 31.03.2009

Rs. in lacs Rs. in lacs

a) Principal Amount Outstanding 1.04 1.62

Interest amount payable thereon 0.10 Nil

The amount of interest paid by the buyer in terms of section 16 along with the amount of the payment made to the supplier beyond the appointed day during each accounting year 4.16 Nil

c) The amount of interest clue and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified 0.10 Mil

iii The amount of interest accrued and remaining unpaid at the end of each accounting year 0.10 Nil

e) The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprise for the purpose of disallowance as a deductible expenditure under section 2 Nil Nil

10. The commercial production from the expansion project to manufacture additional quantity of 7500 MT of aluminium extrusions commenced on 24th August 2009.

11. Emplyees Benefit:

Employee Benefits have been provided as per provisions of Revised Accounting Standard 15 (AS 15).

Defined Contribution Plan

(Rs. in lacs)

Contribution to Defined Contribution Plan, recognized as expenses for the year are as under:

For the year ended 31st March

2010 2009

Employers Contribution 24.39 18.77

to Provident Fund

Employers Contribution 21.28 18.55

to Pension Fund

The Company contributes 12% of salary of all eligible employees towards Provident Fund managed by the Central Government.

Defined Benefit Plan

The Century Extrusions Employees Gratuity Fund managed by a Trust is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

12. Segment Reporting:

The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing of Transmission and Distribution Line Hardware. However, the Company does not fall under any of the criteria laid down under AS -17 and hence segment reporting is not applicable.

13. The Company has made donation of Rs. 1000.00 (Previous year Nil) to a party affiated to Indian National Congress.

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