Notes to Accounts of Coastal Corporation Ltd.

Mar 31, 2025

5c Estimation of fair value

The company undertakes valuation for its investment properties at least once in three years from an Independent Valuer.
The fair values of investment properties have been determined by Prasad & Associates & Techno Design Govt. Registered
Valuers & Chartered Engineers. The best evidence of fair value is current prices in an active market for similar properties.
The valuer has considered the current prices in an active market for properties of different nature or recent prices of similar
properties in less active markets, adjusted to reflect the differences with regard to availability of the infrastructure facilities,
locality of the property and market demand for those properties. Accordingly, fair value estimates for investment properties
are included in level 3. However, in case of properties acquired during the year, transaction price is considered as fair value.

B. Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 2/- (Previous year Rs. 10/-) per share
consequent to share split held on 04-03-2025 in the ratio of 1:5. Each holder of equity shares is entitled to one vote per
share at the general meetings of the Company. In the event of winding-up of the company, the holders of equity
shares are eligible to receive share in the remaining assets of the company after distribution of all preferential amounts
in proportion to their share holding. The Company declares and pays dividends in Indian rupees. The dividend proposed
by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

Nature of reserves:

a) Securities premium : Securities premium represents premium received on issue of shares. The reserve is utilised in
accordance with the provisions of Companies Act, 2013.

b) General reserve : The general reserve is created by way of transfer of part of the profits before declaring dividend
pursuant to the provisions of Companies Act, 2013.

c) Capital Reserve: It represents the grant-in-aid received under the Scheme "Integrated Cold Chain and Value addition
Infrastructure" from MOFPI of Government of India.

d) Retained earnings : Retained earnings generally represents the undistributed profit amount of accumulated earnings
of the company

e) Other Comprehensive Income:

Other Comprehensive Income (OCI) represents the balance in equity for items to be accounted under OCI and comprises
of:

A. Items that will not be reclassified to profit and loss

(i) The Company has made an irrevocable election to present the subsequent fair value changes of investments
in OCI. This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments
measured at fair value including tax effects. The company transfers restated fair value amounts from this
reserve to "retained earnings" when the relevant financial instruments are disposed.

(ii) The actuarial gains and losses along with tax effects arising on defined benefit obligations are recognised in
OCI.

(iii) Foreign Currency Translation Reserve relates to exchange differences for investment in Wholly owned foreign
subsidiaries as the same are classified as non-integral foreign operations

B. Items that will be reclassified to profit and loss:

(i) The effective portion of changes in fair value of cash flow hedging instruments are recognised in OCI. The
accumulated gains/losses will be reclassified to profit and loss in the periods when the hedged items affects
profit or loss.

Defined Benefit Plans:

A. The company provides for gratuity to the employees as per 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 is payable on retirement/
resignation. The gratuity plan is a funded plan and the company makes contributions to recognised funds in India.

B. The employees'' gratuity fund scheme 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

39 M/S Seacrest seafoods inc. (Seacrest). was incorporated in the year 2015, as a wholly owned subsidiary of the company
with an object to import marine products and trade in the USA. Seacrest could not carry its operations profitably, due to
COVID and various other factors, like recession, inflation, dumping of sea-foods into USA by Ecuador and South America,
resulting in its net-worth has become almost negative as at 31. 03.2024. As per 27 and 36 of Ind AS, the company is
required to provide for impairment in respect of the erosion in its net-worth.However, on 25th April 2024, Seacrest,
approached the company, with its offer of "Buy-back" of company''s entire investment of 3 million US $ at par, within 6 to
9 months, as Seacrest has entered into a Business collaboration agreement (BCA) with MVP WHOLESALE LLC., on 25th
April, 2024 and the company has accepted the said offer. However, Seacrest , requested for extention of the period of "buy¬
back" for a further period of 12 months due to prevailing geopolitical conditions vide its communication dated 15th March,

41 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 all dilutive potential equity shares.

b) As per the search report generated from the MCA portal, satisfaction of charges in respect of 2 charges created since
1988, are appearing as "open", though the company has filed the forms towards satisfaction of charges with Registrar
of Companies in respect of the same, within the statutory period prescribed under the Act.

c) The Company has compiled with the number of layers as prescribed under clause (87) of the section 2 of the Companies
Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

d) There is no Scheme of Arrangements that has been approved in terms of sections 230 to 237 of the Companies Act,
2013.

e) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person(s) or entity(is), including foreign entities
("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend
or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received
any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly
lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) The company has not granted any Loans or advances in the nature of loans to promoters, directors, KMPs and the
related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, other the two
wholly owned subsidiary companies (including one, incorporated out-side India), that are repayable on demand or
without specifying any terms or period of repayment.

g) There are no transactions that are not recorded in the books of account and have been surrendered or disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961.

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

55 RECENT ACCOUNTING PRONOUNCEMENTS

For the Year ended March 31st, 2025, MCA has not notified any new standards or amendments to the existing standards
applicable to the Company

56 Previous year''s figures have been regrouped and rearranged wherever necessary to make them comparable with the
current year figures.

The fair values of the financial assets and liabilities are included at the amount that would be received on sale of an asset or
paid to transfer a liability in an orderly transaction between market participants at the measurement date.

I) The following methods and assumptions were used to estimate the fair values

The fair value of cash and cash equivalents, trade receivables and payables, financial liabilities and assets approximate
their carrying amount largely due to the short-term maturities of these instruments. The management considers that
the carrying amounts of financial assets and financial liabilities recognised at nominal cost/amortised cost in the
financial statements approximate their fair values. The fair value of unquoted equity investments designated and
recognised through Other Comprehensive Income has been determined by using the Cost approach technique through
the net assets value method.

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

The categories used are as follows:

Level 1: Level 1 hierarchy includes inputs are quoted prices (unadjusted) in active markets for identical assets or
liabilities that the entity can access at the measurement date.

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

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

D Financial risk management framework

A) The Company''s Board of Directors has overall responsibility for the establishment and oversight of the Company''s risk
management framework. The Company''s risk management policies are established to identify and analyse the risks
faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk
management policies and systems are reviewed regularly to reflect changes in market conditions and the Company''s
activities. The Board of Directors moniters the compliance with the Company''s risk management policies and procedures,
and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.

The risk management framework aims at,

i) Improve financial risk awareness and risk transparency

ii) Identify, control and monitor key risks

iii) Identify risk accumulations

iv) Provide management with reliable information on the Company''s risk situation

v) Improve financial returns

B) The company''s activities expose it to market risk, liquidity risk and credit risk. This note explains the sources of risk
which the entity is exposed to and how the entity manages the risk.

a) Credit risk:

i) Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily
trade receivables), from cash and cash equivalents, deposits with banks. The management has a credit policy in
place and the exposure to credit risk is monitored on an ongoing basis

ii) Financial assets that are neither past due nor impaired

Cash and cash equivalents, deposits with banks, security deposits, investments in securities are neither past due
nor impaired. Cash and cash equivalents, deposits are held with banks which are reputed and credit worthy
banking institutions. Hence the expected credit loss is negligible. Investments in securities - the fair value of the
securities determined are higher than the cost incurred by the company and having sufficient margin. Hence the
expected credit loss is negligible.

iii) Financial assets that are past due but not impaired

Credit risk arising from trade receivables is managed in accordance with the Company''s established policy,
procedures and control relating to customer credit risk management. The average credit period on sales of products
is less than 90 days. All trade receivables are reviewed and assessed for default on a quarterly basis. For trade
receivables, as a practical expedient, the Company computes credit loss allowance based on a provision matrix.
The provision matrix is prepared based on historically observed default rates over the expected life of trade
receivables and is adjusted for forward-looking estimates. The provision matrix at the end of the reporting period
is as follows:

b) Liquidity risk:

i) Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
a reasonable price. The Company''s objective is to maintain optimum level of liquidity to meet it''s cash and collateral
requirements at all times.Prudent liquidity risk management implies maintaining sufficient cash and marketable
securities and the availability of funding through an adequate amount of committed credit line to meet obligations
. Due to the dynamic nature of underlying bussiness, company maintains flexibility in funding by maintaining
availability under committed credit lines.

ii) Maturities of financial liabilities

The table below analyse the company''s financial liabilities into relevant maturity groupings based on their contractual
maturities for all non derivative financial liabilities:

iii) Foreign currency risk -

The company operates internationally and is exposed to foreign exchange risk arising from foreign currency
transactions, primarily with respect to US$. Foreign exchange risk arises from future commercial transactions and
recognised assets and liabilities denominated in a currency that is not the company''s functional currency. The risk
is measured through a forecast of highly probable foreign currency cash flows. The objective of hedges is to
minimise the volatility of the INR cash flows of highly probable forecast transactions.

The company''s risk management policy is to hedge around 5% to 10% of forecasted foreign currency sales for
subsequent 12 months and accordingly, foreign exchange forward contracts are taken to hedge the foreign
exchange fluctuations on forecasted sales.

59 CAPITAL MANAGEMENT

The company''s objectives when managing capital is to safeguard their ability to continue as a going concern, maintain a
strong credit rating and healthy capital ratios in order to support its business and provide adequate return to shareholders
through continuing growth and maximise the shareholders value. The company sets the amount of capital required on the
basis of annual business and long term operating plans which include capital and other strategic investments.The funding
requirements are met through a mixture of equity, internal fund generation and borrowed funds. The company tries to
maintain an optimal capital structure to reduce cost of capital and monitors capital on the basis of debt-equity ratio.

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Mar 31, 2024

5c Estimation of fair value

The company obtains valuations for its investment properties at least once in a three years from a Independent Valuer. The fair values of investment properties have been determined by Prasad & Associates & Techno Design Govt. Registered Valuers & Chartered Engineers. The best evidence of fair value is current prices in an active market for similar properties. The valuer has considered the current prices in an active market for properties of different nature or recent prices of similar properties in less active markets, adjusted to reflect the differences with regard to availability of the infrastructure facilities, locality of the property and market demand for those properties. All resulting fair value estimates for investment properties are included in level 3. However, in case of properties acquired during the year, transaction price is considered as fair value.

B. Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share at the general meetings of the Company. In the event of liquidation of the company, the holders of equity shares are eligible to receive share in the remaining assets of the company after distribution of all preferential amounts in proportion to their share holding. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

Nature of reserves:

a) Securities premium : Securities premium represents premium received on issue of shares. The reserve is utilised in accordance with the provisions of Companies Act, 2013.

b) General reserve : The general reserve is created by way of transfer of part of the profits before declaring dividend pursuant to the provisions of Companies Act, 1956.

c) Capital Reserve: It represents the grant-in-aid received under the Scheme "Integrated Cold Chain and Value addition Infrastructure" from MOFPI of Government of India.

d) Retained earnings : Retained earnings generally represents the undistributed profit amount of accumulated earnings of the company

e) Other Comprehensive Income:

Other Comprehensive Income (OCI) represents the balance in equity for items to be accounted under OCI and comprises of:

A. Items that will not be reclassified to profit and loss

(i) The Company has made an irrevocable election to present the subsequent fair value changes of investments in OCI. This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value including tax effects. The company transfers restated fair value amounts from this reserve to retained earnings when the relevant financial instruments are disposed.

(ii) The actuarial gains and losses along with tax effects arising on defined benefit obligations are recognised in OCI.

(iii) Foreign Currency Translation Reserve relates to exchange differences for investment in Wholly owned foreign subsidiaries as the same are classified as non-integral foreign operations

B. Items that will be reclassified to profit and loss:

(i) The effective portion of changes in fair value of cash flow hedging instruments are recognised in OCI. The accumulated gains/ losses will be reclassified to profit and loss in the periods when the hedged items affects profit or loss.

(F) Other disclosures:

(i) The amounts receivable from customers become due after expiry of credit period which on an average is less than 90 days. There is no significant financing component in any transaction with the customers.

(ii) The Company does not have any remaining performance obligation as contracts entered for sale of goods are for a shorter duration.

Defined Benefit Plans:

The company provides for gratuity to the employees as per 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 is payable on retirement/resignation. The gratuity plan is a funded plan and the company makes contributions to recognised funds in India.

B. The employees'' gratuity fund scheme 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.

39. M/S Seacrest seafoods inc. (Seacrest). was incorporated in the year 2015, as a wholly owned subsid

iary of the company with an object to import marine products and trade in the USA. Seacrest could not carry its operations profitably, due to COVID and various other factors, like recession, inflation, dumping of sea-foods into USA by Ecuador and South America, resulting in its net-worth has become almost negative as at 31. 03.2024. As per 27 and 36 of Ind AS, the company is required to provide for impairment in respect of the erosion in its net-worth.

However, on 25th April 2024, Seacrest, approached the company, with its offer of “Buy-back" of company''s entire investment of 3 million US $ at par, within 6 to 9 months, as Seacrest has entered into a Business collaboration agreement (BCA) with MVP WHOLESALE LLC., on 25th April, 2024 and the company has accepted the said offer. Accordingly, as the company''s entire investment will be recovered within a period of 12 months, the board of directors of the company have opinioned that there is no need for making provision in company''s books of account for the year ended 31.03.2024.

41. 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 all dilutive potential equity shares.

45 Contingent liabilities/claims not provided for
Particulars	For the year ended March 31, 2024	For the year ended March 31, 2023
a. Unexpired Bank Guarantee issued:
Against letters of credit (SBLC)	422.27	533.00
b. Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advances):	404.26	174.92
c. Corporate bank guarantee given to Axis bank for loan to M/s Continental fisheries India Ltd d. Corporate bank guarantee given to Axis bank for loan to M/s Coastal Biotech Private Limited Ltd	45.00	45.00
	175.00	175.00
e. Bank guarantees issued by the company to the MPEDA as a performance bank guarantee	5.00	14.78

Note: All the aforesaid related party transactions were carried on arms'' length basis

49 Impairment of Assets

According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 ''Impairment Of Assets

53 Balances Outstanding

Loans and Advances, Trade Receivables and Trade Payables are subject to confirmation.

54. Other additional Regulatory information

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

b. As per the search report generated from the MCA portal, satisfaction of charges in respect of 2 charges created since 1988, are appearing as "open", though the company has filed the forms towards satisfaction of charges with Registrar of Companies in respect of the same, within the statutory period prescribed under the Act.

c. The Company has compiled with the number of layers as prescribed under clause (87) of the section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

d. There is no Scheme of Arrangements that has been approved in terms of sections 230 to 237 of the Companies Act, 2013.

e. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(is), including foreign entities (“Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f. The company has not granted any Loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, other the three wholly owned subsidiary companies (including one, incorporated out-side India), that are repayable on demand or without specifying any terms or period of repayment.

g. There are no transactions that are not recorded in the books of account and have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

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

55. Recent Accounting Pronouncements

Ministry of Corporate Affairs (“MCA") has not issued any notifications for new standards or amendments to the the existing standards which will be effective from the reporting periods beginning on or after 1st April 2024.

56. Previous year''s figures have been regrouped and rearranged wherever necessary to make them comparable with the current year figures.

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Mar 31, 2023

5c Estimation of fair value

The company obtains valuations for its investment properties at least once in a three years from a Independent Valuer. The fair values of investment properties have been determined by Prasad & Associates & Techno Design Govt. Registered Valuers & Chartered Engineers.The best evidence of fair value is current prices in an active market for similar properties. The valuer has considered the current prices in an active market for properties of different nature or recent prices of similar properties in less active markets, adjusted to reflect the differences with regard to availability of the infrastructure facilities, locality of the property and market demand for those properties. All resulting fair value estimates for investment properties are included in level 3. However, in case of properties acquired during the year, transaction price is considered as fair value.

B. Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share at the general meetings of the Company. In the event of liquidation of the company, the holders of equity shares are eligible to receive share in the remaining assets of the company after distribution of all prefarencial amounts in proporation to their share holding. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

C. Issue of Bonus Shares

Aggregate number of shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date:

Compulsorily Convertible Participatory Cumulative Preference shares -Series A allotted as part of scheme of amalgamation for

consideration other than cash

Equity shares bought back by the Company

Pursuant to the approval of the shareholders on 16th May, 2018, record date for ascertaining the eligibility of the shareholders for receiving the bonus shares was fixed on 24th May, 2018 Accordingly, the Company has allotted 76,26,600 number of fully paid Bonus shares on 25th May, 2018 in the ratio of three equity share of Rs. 10 each fully paid up for every one existing equity shares of Rs. 10 each fully paid up

Nature of reserves:

a) Securities premium : Securities premium represents premium received on issue of shares. The reserve is utilised in accordance with the provisions of Companies Act, 2013.

b) General reserve : The general reserve is created by way of tranfer of part of the profits before declaring dividend pursuant to the provisions of Companies Act, 1956.

c) Capital Reserve: It represents the grant-in-aid received under the Scheme "Integrated Cold Chain and Value addition Infrastructure" from MOFPI of Government of India.

d) Retained earnings : Retained earnings generally represents the undistributed profit amount of accumulated earnings of the company

e) Money received against share warrants

a. The company at its extrordinary general meeting held on 11th February, 2021 issued 14,10,000 number of share warrants convertible into 14,10,00 equity shares of the Company of the face value of Rs.10/- each.

b. All the warrants holders have excersiced their option for conversion of the warrents into fully paid-up equity shares of Rs.10 each by 11th Februvary 2022. Further the company has issued 14,10,000 number of equity shares of Rs. 10 each fully paid up on 11th February 2022, which shall rank pari passu in all respects with the exsisting equity shares of the company.

f) Other Comprehensive Income:

Other Comprehensive Income (OCI) represents the balance in equity for items to be accounted under OCI and comprises of:

A. Items that will not be reclassified to profit and loss

(i) The Company has made an irrevocable election to present the subsequent fair value changes of investments in OCI. This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value including tax effects. The company transfers restated fair value amounts from this reserve to retained earnings when the relevant financial instruments are disposed.

(ii) The actuarial gains and losses along with tax effects arising on defined benefit obligations are recognised in OCI.

(iii) Foreign Currency Translation Reserve relates to exchange differences for investment in Wholly owned foreign subsidiaries as the same are classified as non-integral foreign operations.

B. Items that will be reclassified to profit and loss:

(i) The effective portion of changes in fair value of cash flow hedging instruments are recognised in OCI. The accumulated gains/ losses will be reclassified to profit and loss in the periods when the hedged items affects profit or loss.

Defined Benefit Plans:

A. The company provides for gratuity to the employees as per Payment of Gratuity Act,1972. Employees who are in continuos service for a period of 5 years are eligible for gratuity. The amount of gratuity is payable on retirement/resignation. The gratuity plan is a funded plan and the company makes contributions to recognised funds in India.

B. The employees'' gratuity fund scheme 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.

44. Contingent liabilities/claims not provided for
	For the year ended	For the year ended
Particulars	March 31, 2023	March 31, 2022
a. Unexpired Bank Guarantee issued in favour of:
Against letters of credit (SBLC)	533.00	600.00
b. Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advances):	174.92	328.00
c. Corporate bank guarantee given to Axis bank for loan to M/s Continental fisheries India Ltd	25.00	0.00
d. Bank guarantees issued by the company to the MPEDA as a performance bank guarantee	14.78	9.78

52. Impact of covid 19

The Management has considered the possible effects, if any, that may result from COVID - 19 pandemic on amounts relating to trade receivables & inventories. In assessing the recoverability of receivables, the Company has considered internal and external information upto the date of approval of these financial results including credit reports and economic forecasts. The Company has performed sensitivity analysis on the assumptions used and based on current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets. The impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results and the Company will continue to closely monitor any material changes and future economic conditions

53. Balances Outstanding

Loans and Advances, Trade Receivables and Trade Payables are subject to confirmation.

54. Other additional Regulatory information

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

b) As per the search report generated from the MCA portal, satisfaction of charges in respect of 4 charges created since 1990, are appearing as "open", though the company has filed the forms towards satisfaction of charges with Registrar of Companies in respect of the same, within the statutory period prescribed under the Act.

c) The Company has compiled with the number of layers as prescribed under clause (87) of the section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

d) There is no Scheme of Arrangements that has been approved in terms of sections 230 to 237 of the Companies Act, 2013

e) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) The company has not granted any Loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointhly with any other person, other the three wholly owned subsidiary comanies (including one, incorporated out-side India), that are repayable on demand or without specifying any terms or period of repayment.

g) There are no transactions that are not recorded in the books of account and have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

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

55. Recent Accounting Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31,2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

Ind AS 1 - Presentation of Financial Statements:

This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The impact of the amendment is insignificant in the financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors:

The amendment will help entities to distinguish between accounting policies and accounting estimates. The definition of a change in accounting estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The Company does not expect this amendment to have any significant impact in its financial statements.

Ind AS 12 - Income Taxes:

The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption), so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. The Company does not expect this amendment to have any significant impact in its financial statements.

56. Previous year''s figures have been regrouped and rearranged wherever necessary to make them comparable with the current year figures.

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Mar 31, 2018

* Export and other incentives receivable has been recognized on the following: a) Incentive in the form of duty credit scrip upon sale of exports under Merchandise Exports from India Scheme under Foreign Trade Policy of India b) Sales tax incentive and reimbursement of power cost under the Andhra Pradesh state incentives IIPP 2010-15 scheme. There are no unfulfilled conditions or contingencies attached to these incentives.

* Included due from subsidiaries (refer note 28)

No trade or other receivables are due from directors or other officers of the Company either severally or jointly with any other person. Nor any trade or other receivables are due from firms or private companies respectively in which any director is a partner, a director or a member.

Trade receivables are non-interest bearing and are generally on terms of 30 - 90 days.

1.1. Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share at the general meetings of the Company. In the event of liquidation of the company, the holders of equity shares are eligiable to receive share in the remaining assets of the company after distribution of all prefarencial amounts in proporation to their share holding. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

Terms and conditions of the above financial liabilities:

Trade payables are non-interest bearing and are normally settled on 30-120 day terms. For explanations on the Company’s credit risk management processes, refer to Note 39.

2. Components of Other Comprehensive Income (OCI)

The disaggregation of changes to OCI by each type of reserve in equity is shown below: During the year ended March 31, 2017

During the year ended March 31, 2017, the Company on July 27, 2016, has alloted 73,971,303 equity shares of Rs. 10/- each to the then existing shareholders of the Company as Bonus shares in the ratio of 3:1. Accordingly, the earnings per share has been adjusted for bonus issue for previous periods presented in accordance with the requirements of Indian Accounting Standard (Ind AS) 33 - Earnings per share.

Note: The amount unspent as at March 31, 2018 is Rs. 61.46 lakhs , as at March 31, 2017 Rs. 28.25 lakhs

3. Balances Outstanding

Loans and Advances, Trade Receivables and Trade Payables are subject to confirmation.

4. Dividend

The Board of Directors at its meeting held on May 25, 2018 had recommended a dividend of 15% (Rs. 1.50 per equity share of par value of Rs. 10 each) against which the Board of Directors at its meeting held on April 07, 2018 had declared and paid an interim dividend of 15% (Rs. 1.50 per equity share of par value of Rs. 10 each).

5. Reconciliation with previous GAAP (Indian GAAP) and Ind AS (a) Equity

(b) Other Comprehensive Income

(c) There were no significant reconciliation items between cash flows prepared under Indian GAAP and those prepared under Ind AS

(d) Under Ind AS, liability for dividend is recognized in the period in which the obligation to pay is established. Under previous GAAP, a liability is recognized in the period to which the dividend relates, even though the dividend may be approved by the shareholders subsequent to the reporting date. Consequently, dividend payable under Ind AS is lower and retained earning is higher.

( e) Under previous GAAP, actuarial gains and losses were recognised in the statement of profit and loss. Under Ind AS, the actuarial gains and losses form part of measurement of the net defined benefit liability/ asset which is recognised in other comprehensive income. Consequently, the tax effect of the same has also been recognised in other comprehensive income under Ind AS instead of the statement of profit and loss.

(f) Under Ind AS, financial instruments such as forward contracts are meausred at fair value at each balance sheet date and any unrealised gain or loss will be recognised directly in Other Comprehensive Income. Under previous GAAP, they are measured at cost.

COMPANY OVERVIEW

Coastal Corporation Limited was originally established as Coastal Trawlers Private Limited in the year 1981, subsequently converted into a public limited company in 1985. The name was changed to Coastal Corporation Limited in the year 2005. The Company is engaged in processing and export of sea food. The shares of the company are listed in stock exchanges of Mumbai, Delhi and Ahmedabad.

6. SIGNIFICANT ACCOUNTING POLICIES

6.1 Basis of preparation and compliance with Ind AS

i. For all periodgs upto and including the year ended March 31, 2017, the Company prepared its financial statements in accordance with Generally Accepted Accounting Principles (GAAP) in India and complied with the accounting standards (Previous GAAP) as notified under Section 133 of the Companies Act, 2013 read together with Rule 7 of the Companies (Accounts) Rules, 2014, as amended, to the extent applicable, and the presentation requirements of the Companies Act, 2013.

In accordance with the notification dated February 16, 2015, issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (Ind AS) notified under Section 133 read with Rule 4A of Companies (Indian Accounting Standards) Rules, 2015, as amended, and the relevant provisions of the Companies Act, 2013 (collectively, “Ind ASs”) with effect from April 1, 2017 and the Company is required to prepare its financial statements in accordance with Ind ASs for the year ended March 31, 2018. These financial statements as and for the year ended March 31, 2017 (the “Ind AS Financial Statements”) are the first financial statements, the Company has prepared in accordance with Ind AS.

ii. The Company had prepared a separate set of financial statements for the year ended March 31, 2017 and March 31, 2016 in accordance with the Accounting Standards referred to in section 133 of the Companies Act, 2013 (the “Audited Previous GAAP Financial Statements”), which were approved by the Board of Directors of the Company. The management of the Company has compiled the Special Purpose Comparative Ind AS Financial Statements using the Audited Previous GAAP Financial Statements and made required Ind AS adjustments. The Audited Previous GAAP Financial Statements, and the Special purpose Comparative Ind AS Financial Statements, do not reflect the effects of events that occurred subsequent to the respective dates of approval of the Audited Previous GAAP Financial Statements.

iii. The Company has followed the provisions of Ind AS 101-”First Time adoption of Indian Accounting Standards” (Ind AS 101), in preparing its opening Ind AS Balance Sheet as of the date of transition, i.e. April 1, 2017. In accordance with Ind AS 101, the Company has presented reconciliations of Shareholders’ equity under Previous GAAP and Ind ASs as at March 31, 2017, and April 1, 2016 and of the Profit/(Loss) after Tax as per Previous GAAP and Total Comprehensive Income under Ind AS for the year ended March 31, 2017.

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Mar 31, 2014

1 Contingent liabilities/claims not provided for :

Unexpired Bank Guarantee issued in favour of:

- Against letters of credit(SBLC) Rs. 90.00 Lakshs 75.00 Lakshs

- A.P.TRANSCO Rs. - 20.00 Lakshs

2 Conformation of balaces in case of Debtors and Crediots have not been received

3 Directors have waived their sitting fee hence no provision has been made in the accounts

4 In compliance with the Accounting Standard relating to "Accounting for taxes on income" (AS22) issued by the Institute of Chartered Accountants of India the Company has provided deferred tax liability of Rs.61,75,656/- on account of timing difference in the method of depreciation adopted.

5 Accounting Standard - 18 -- Related Party Disclosure

(i) Names of related parties and description of relationship

Key Management Personnel

(a) Sri T. Valsaraj - Key Management Personnel

(b) Sri.G.V.V.Satyanarayana- Key Management Personnel Enterprises in which KMP or Relatives having significant influence

(a) M/s.T.V.R.Estates and Resorts Pvt. Ltd. - Associate Company

(b) M/s.Balaji Seafoods Ltd. - Associate Company

(c) M/s.Coastal Developers Pvt. Ltd. - Associate Company

(d) M/s. Sai Srekara Realtors & Fisheries - Associate Firm

(e) M/s. Snehadara Consultants - Associate Firm

6 There are no overdue amounts payable to micro,small, and medium enterprises

7 The operations on Toll way division and Manufacture of plastic woven sacks (Poly pack division) have been completed and there will be no reporatable segments in the next year.

8 During the year 28,400 equity shares have been forfieted and the same have not been further issued. for forfeiture of shares.

9 Previous years figures have been regrouped where ever necessary.

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Mar 31, 2013

1A) Corporate information:

Coastal corporation Ltd was oringinally Registered as Coastal Trawlers Pvt Ltd in the year 1981 under the Companies Act 1956 and converted into Public limited company in the year 1985. The company has made a public offer of equity shares in the year 1986. The name of the company has been changed to Coastal corporation Ltd in the year 2005. The company . is carrying on business in Export of Fish & Fish Products with processing

2 Contingent liabilities/claims not provided for:

Unexpired Bank Guarantees issued in farvour of: -Against letters of credit (S B L C) Rs. 75.00 Lakhs 50.00 Lakhs

A.P.TRANSCO Rs. 20.00 Lakhs

3 Confirmation of balances in case of Debtors and Creditors have not been received.

4 Directors have waived their sitting fee hence no provision has been made in the accounts

5 In compliance with the Accounting Standard relating to "Accounting for taxes on income"

(AS22) issued by the Institute of Chartered Accountants of India the Company has provided deferred tax liability of Rs.2,75,829/- on account of timing difference in the method of depreciation adopted.

6 There are no overdue amounts payable to micro,small, and medium enterprises

7 The company has been utilising duty free credit entitlment certificates granted by the Minister/ of Commerce and Industry, Government of India for import of plastic granuels for manufacture of piastre woven sacks. The license issued has expired on 31st January 2013 and hence the operation under this segment have been completed.

8 Interest on calls-in-arrears has not been provided in the accounts. Notices have been issued for forfeiture of shares.

9 Previous years figures have been regrouped where ever necessary.

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Mar 31, 2012

(a) Terms and Rights attached to shares Equity shares

The company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company, the holders of equity shares are eligible to receive share in the remaining assets of the company after distribution of all preferential amounts in proportion to their shareholding.

Preference shares

The company has only one class of Preference shares of 6.5% Redeemable Preference shares having par value of Rs.10/- per share. Preference Share holders are not entitled to vote. Preference shares carry a preferential right for repayment in priority to the equity shares to the company but shall not carry any further or other right to participate either in the profits or assets of the company. Preference Shares shall be redeemable on the expiry of 36 months from the date of allotment with an option to the company / the holder of preference share(s) to redeem the same earlier but not before the expiry of 2 years from the date of allotment.

1 The Company has not made any Provision towards leave encashment.

2 Confirmation of balances in case of Debtors and Creditors have not been received.

3 In compliance with the Accounting Standard relating to "Accounting for taxes on income" (AS22) issued by the Institute of Chartered Account ants of India the Company has provided deferred tax liability of Rs.2,75,829/- on account of timing difference in the method of depreciation adopted.

4 Accounting Standard -18 - Related Party Disclosure (i) Names of related parties and description of relationship Key Management Personnel

(a) Sri T valsaraj - Key Management Personnel

(b) Sri. G.V.V.Satyanarayana- Key Management Personnel

Enterprises in which KMP or Relatives having significant influence

(a) M/s.T.V.R.Estates and Resorts Pvt. Ltd. -As sociate Company

(b) M/s.Balaji Seafoods Ltd. -Associate Company

(c) M/s.Coastal Developers Pvt. Ltd. - Associate Company

(d) M/s. Sai Sreekara Realtors & Fisheries-Associate Firm

(e) M/s. Snehadara Consultants -Associate Firm

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Mar 31, 2010

I) During the Accounting yea' the Authorised Capital of 50,00,000 Equity Shares of Rs.10 each has been reclassified as 30.00,000 Equity Shares of Rs.10 each and 20,00,000 Redeemable Preference Shares of Rs.10 each Vide special resolution passed at E.G.M held on 15.03.2010

II) Other Income includes export benefits earned on account of exports amounting to Rs.296.73 lakhs.

III) The Company has not made any Provision towards leave encashment.

IV) Confirmation of balances in case of Debtors and Creditors have not been received.

V) Directors have waived their sitting fee hence no provision has been made in the accounts

VI) In compliance with the Accounting Standard relating to "Accounting for taxes on income" (AS22) issued by the Institute of Chartered Accountants of India the Company has provided deferred tax liability of Rs. 1,91,909/- on account of timing difference in the method of depreciation adopted. The company has provided Rs.13.60 lakhs towards income under Minimum Alternate Tax.

1. Accounting Standard -18 - Related Party Disclosure

(i) List of related parties and their relationships

(a) M/s.Konad Investments & Finance Pvt Ltd. - Associate Company

(b) Sri T. Valsaraj - Key Management Personnel

(c) Sri G.V.V. Satyanarayana - Key Management Personnel

(d) M/s.Coastal Feed Products Pvt Ltd. - Associate Company

(e) M/s Balaji Seafoods Ltd - Associate Company

(f) M/s Coastal Developers Pvt. Ltd - Associate

2. Interest on calls-in-arrears has not been provided in the accounts Notices have been issued for forfeiture of shares.

3. Previous years figures have been regrouped where ever necessary.