Notes to Accounts of Cords Cable Industries Ltd.

Mar 31, 2025

t) Provisions and Contingent Liabilities:

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence
will be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within
the control of the Company or where any present obligation cannot be measured in terms of future outflow of
resources or where a reliable estimate of the obligation cannot be made.

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past
events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be
reliably estimated. Provisions are not recognized for future operating losses.

Provisions are measured at the present value of management’s best estimate of the expenditure required to
settle the present obligation at the end of the reporting period. The discount rate used to determine the present
value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific
to the liability. The increase in the provision due to the passage of time is recognized as interest expense.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of
an outflow with respect to any one item included in the same class of obligations may be small.

A contingent asset is disclosed, where an inflow of economic benefits is probable. An entity shall not recognize
a contingent asset unless the recovery is virtually certain.

u) Cash and Cash Equivalents:

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on
hand, deposits held at call with financial institutions, other short- term, highly liquid investments with original
maturities of three months or less that are readily convertible to known amounts of cash and which are subject to
an insignificant risk of changes in value. Bank Overdraft and cash credits are not included in the cash & cash
equivalent according to Ind AS 7 as there is no arrangement for positive and negative balance fluctuation in
those accounts, they are basically the integral part of loans and credit management.

v) Impairment of assets:

Intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for
impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other
assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount
may not be recoverable. An impairment loss is recognized for the amount by which asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal
and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets
or group of assets (cash-generating units).

Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the
impairment at the end of each reporting period.

w) Earnings Per Share:

i. Basic earnings per share: Basic earnings per share is calculated by dividing:

• the profit attributable to owners of the Company

• by the weighted average number of equity shares outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year and excluding treasury shares.

ii. Diluted earnings per share: Diluted earnings per share adjusts the figures used in the determination of basic
earnings per share to take into account:

• the after income tax effect of interest and other financing costs associated with dilutive potential equity
shares, and

• the weighted average number of additional equity shares that would have been outstanding assuming
the conversion of all dilutive potential equity shares.

x) Contributed Equity:

Equity shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction,
net of tax, from the proceeds.

y) Foreign Currency:

The functional currency of the company is Indian Rupee. Theses financial statements are presented in Indian
Rupees.

The foreign currency transactions are recorded on initial recognition in the functional currency by applying to the
foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the
date of transaction.

The foreign currency monetary items are translated using the closing rate at the end of each reporting period.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rate at the date of transaction. Exchange differences arising on the settlement of monetary items or on
translating monetary items at rates different from those which they were translated on initial recognition during
the period or in previous financial statements are recognized in statement of profit and loss in the period in which
they arise.

z) Dividend:

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the
discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting
period.

aa) Rounding off:

All amounts disclosed in the financial statement and notes have been rounded off to the nearest Lacs, unless
otherwise stated.

Note 30: Critical Estimates and Judgements

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom
equal the actual results. Management also needs to exercise judgement in applying the Company’s accounting
policies. This note provides an overview of the areas that involved a higher degree of judgement or complexity, and
of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be different
than those originally assessed. Detailed information about each of these estimates and judgements is included in
relevant notes together with information about the basis of calculation for each affected line item in the financial
statements.

The preparation of the financial statements in conformity with GAAP requires the Management to make estimates
and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent
assets and liabilities as at the date of the financial statements and reported amounts of income and expenses during
the period. These estimates and associated assumptions are based on historical experience and management’s
best knowledge of current events and actions the Company may take in future.

Information about critical estimates and assumptions that have a significant risk of causing material adjustment to the
carrying amounts of assets and liabilities are included in the following notes:

(a) Estimation of defined benefit obligations

(b) Estimation of current tax expenses and payable

(c) Estimation of provisions and contingencies

(a) Impairment of financial assets (including trade receivable)

In accordance with Ind AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and
recognition of impairment loss on the financial assets that are debt instruments, and are measured at amortized
cost e.g., Loans, Debt Securities, Deposits and Trade Receivables or any contractual right to receive cash or
another financial asset that result from transactions that are within the scope of Ind AS 18. The Company follows
‘Simplified Approach’ for recognition of impairment loss allowance on trade receivables. The application of simplified
approach recognizes impairment loss allowance based on lifetime ECL at each reporting date, right from its
initial recognition. Trade receivables are recognized initially at fair value and subsequently measured at cost less
provision for impairment. As a practical expedient the Company has adopted ‘Simplified Approach’ using the
provision matrix method for recognition of expected loss on trade receivables. The provision matrix is based on
three years rolling average default rates observed over the expected life of the trade receivables and is adjusted
for forward-looking estimates. These average default rates are applied on total credit risk exposure on trade
receivables and outstanding for more than one year at the reporting date to determine lifetime Expected Credit
Losses. Company has a policy to recognize expected credit loss only if there is reasonable certainty of default
from trade receivable. To be prudent in booking of expected credit loss, company recognize the expected credit
loss when legal right to recover the debt expires which is normally after 3 years of raising sales invoice and that
to on the basis of management expectation of recoverability.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that
whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not
increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased
significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that
there is no longer a significant increase in credit risk since initial recognition, the Company reverts to recognizing
impairment loss allowance based on 12-month ECL.

ECL impairment loss allowance (or reversal) recognized during the period is recognized under the head ‘Other
Expenses’ in the statement of profit and loss. The balance sheet presentation for various financial instruments is
described below:

i. Financial assets measured as at amortized cost: ECL is presented as an allowance, i.e., as an integral
part of the measurement of those assets in the balance sheet. The allowance reduces the net carrying
amount.

ii. Debt instruments measured at FVTPL: Since financial assets are already reflected at fair value, impairment
allowance is not further reduced from its value. The change in fair value is taken to the statement of Profit
and Loss.

iii. Debt instruments measured at FVTOCI: Since financial assets are already reflected at fair value, impairment
allowance is not further reduced from its value. Rather, ECL amount is presented as ‘Accumulated Impairment
Amount’ in the OCI. The Company does not have any Purchased or Originated Credit Impaired (POCI)
financial assets, i.e., financial assets which are credit impaired on purchase/ origination.

(b) Estimation of defined benefit obligations

The liabilities of the Company arising from employee benefit obligations and the related current service cost, are
determined on an actuarial basis using various assumptions. Refer note 31 for significant assumptions used.

(c) Estimation of current tax expenses and payable

Taxes recognized in the financial statements reflect management’s best estimate of the outcome based on the
facts known at the balance sheet date. These facts include but are not limited to interpretation of tax laws of
various jurisdictions where the company operates. Any difference between the estimates and final tax assessments
will impact the income tax as well the resulting assets and liabilities.

(d) Estimation of provisions and contingencies

Provisions are liabilities of uncertain amount or timing recognized where a legal or constructive obligation exists
at the balance sheet date, as a result of a past event, where the amount of the obligation can be reliably estimated

and where the outflow of economic benefit is probable. Contingent liabilities are possible obligations that may
arise from past event whose existence will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events which are not fully within the control of the Company. The Company exercises
judgement and estimates in recognizing the provisions and assessing the exposure to contingent liabilities relating
to pending litigations. Judgment is necessary in assessing the likelihood of the success of the pending claim and
to quantify the possible range of financial settlement. Due to this inherent uncertainty in the evaluation process,
actual losses may be different from originally estimated provision. Warranty provisions are determined based on
the historical percentage of warranty expense to sales for the same types of goods for which the warranty is
currently being determined. The same percentage to the sales is applied for the current accounting period to
derive the warranty expense to be accrued. It is very unlikely that actual warranty claims will exactly match the
historical warranty percentage, so such estimates are reviewed annually for any material changes in assumptions
and likelihood of occurrence.

(e) Fair Value Measurement

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:

i. In the principal market for asset or liability, or

ii. 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. The fair value of an asset
or liability is measured using the assumptions that market participants would use when pricing the asset or
liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
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 assets and liabilities that are recognized in the financial statements on a recurring basis, the Company
determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization
(based on the lowest level input that is significant to fair value measurement as a whole) at the end of each
reporting period. 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.

Other Fair Value related disclosures are given in the relevant notes.

H. (a) In respect of amounts as mentioned under 205C of the Companies Act, 2013 there were no dues required to
be credited to the Investor Education and Protection Fund as at March 31,2025.

(b) CSR liability of Rs.Nil Lakhs (Paid during the year Rs 21.26 Lakhs)

I. BASIC AND DILUTED EARNINGS PER SHARE:

The basic earnings per equity share is computed by dividing the net profit attributable to equity
shareholders for the year by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share are computed using the weighted average number of equity shares and also
the weighted average number of equity shares that could have been issued on the conversion of all
dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds
receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have
been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted
for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive
effect of Employee Stock Option Plan as appropriate.

K. Fair Value Hierarchy:

This Section explains the judgments and estimates made in determining fair values of financial instruments that
are (a) recognized and measured at fair value and (b) measured at amortized cost and for which fair values are
disclosed in financial statements. To provide an indication about reliability of inputs used in determining fair
value, group has classified its financial instruments into three levels prescribed under accounting standard. An
explanation of each level follows underneath the table:

Fair value of financial instruments as referred to in note above has been classified into three categories depending
on inputs used in valuation technique. Hierarchy gives highest priority to quoted prices in active market for
identical assets or liabilities (level 1 measurement) and lowest priority to unobservable inputs (level 3
measurements).

The categories used are as follows:

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

Level 2: The fair value of Financial Instruments that are not traded in an active market is determined using
valuation techniques which maximize the use of observable market data rely as little as possible on entity specific
estimates.

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

Company’s policy is to recognize transfers into and transfer out of fair value hierarchy levels as at the end of the
reporting period.

As per our Report of even date For and on behalf of the BOARD OF DIRECTORS

Alok Misra & Co Naveen Sawhney Pawan Kumar Maheswari

Chartered Accountants Managing Director Whole Time Director

(FRN.:018734N) DIN: 00893704 DIN: 10238911

Alok Misra Sandeep Kumar Garima Pant

Partner CFO Company Secretary

M.No.:500138 M.No:093357 M.No:ACS 28170

Place :New Delhi
Dated:27.05.2025

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Mar 31, 2024

Note 32: Notes on Accounts A. Contingent Liability

a) Claims against Company not acknowledged as Debts:

Details of various show cause notices & cases against which the Company / Department is in appeal and against which no demand is deposited are given below:

Name of the Statute	Nature of dues	Amount INR in Lakhs	Period to which the amount relates	Forum where dispute is pending
Building and	Building and Other		2010-2011	Stay order granted by
Other Construction	Construction Worker’s		&	the HIGH COURT, Jaipur
Worker’s Welfare	Welfare CESS Rule,1998		2012-2013
CESS Act, 1996	CESS Amount	16.04
	Add: Interest	29.42
		45.46
	Less: Already Deposit	16.04
	Balance	29.42
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	9.33	2017-2018	Application filed for refund
	Less:- Already Deposit	0.93		to Deputy Commissioner
	Balance	8.40		(GST), Bhiwadi.
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	36.65	2017-2018	Application filed for refund
	Less:- Already Deposit	3.66		to Deputy Commissioner
	Balance	32.99		(GST), Bhiwadi.
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	1.76	2016-2017	Case Pending with
	Less:- Already Deposit	0.13		Commissioner
	Balance	1.63		(Appeals) Jaipur
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	2.35	2015-2016	Case Pending with
	Less:- Already Deposit	0.97	to	Commissioner
	Balance	1.38	2017-2018	(Appeals) Jaipur
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	6.12	2007-2008	Case Pending with
	Less:- Already Deposit	0.46		Commissioner
	Balance	5.66		(Appeals) Jaipur

Name of the Statute	Nature of dues	Amount INR in Lakhs	Period to which the amount relates	Forum where dispute is pending
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	13.09	2007-2008	Case Pending with
	Less:- Already Deposit	0.98	&	Commissioner
	Balance	12.11	2008-2009	(Appeals) Jaipur
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	58.08	2017-2018	Case Pending with
	Add:- Interest	36.48	&	Commissioner
	Add:- Penalty	58.08	2018-2019	(Appeal) Jaipur
	Total	152.64
	Less:- Already Deposit	58.08
	Balance	94.56
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	104.19	2018-2019	Case Pending with
	Add:- Interest	56.73		Commissioner
	Add:- Penalty	15.63		(Appeal) Jaipur
	Total	176.55
	Less:- Already Deposit	176.55
	Balance	NIL
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	72.85	2017-2018	Case Pending with
	Penalty	72.85	2018-2019	Commissioner
	Total	145.70	2019-2020	(Appeal) Jaipur
	Less:- Already Deposited	7.29
	Balance	138.41
Central Goods &	Central Goods &
Services Tax	Service Tax
Act 2017.
	Tax	0.40	2019-2020	Case Pending with
	Penalty	0.40		Commissioner
	Total	0.80		(Appeal) Jaipur
	Less: Already Deposited	0.04
	Balance	0.76

Name of the Statute	Nature of dues	Amount INR in Lakhs	Period to which the amount relates	Forum where dispute is pending
Income Tax Act 1961.	Income Tax
	Tax Add: Interest Total	58.08 81.53	AY 2018-2019	Appeal to the Commissioner of Income Tax (Appeal)
		139.61

b)	Other Contingent Liabilities	(Amount INR in Lakhs)
	Particulars	2023-24	2022-23
	Guarantees issued by Bankers	8246.87	7778.86
	In respect of Bill/LC negotiated factored from Banks/Factoring agency	3734.61	3032.91

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs. Nil).

B. Employee benefits

Defined benefit plan

The following table sets out the details of the defined benefits retirement plans and the amounts recognition in the financial statement:

I. Defined Contribution Plans

a. Provident Fund

b. Employers’ contribution to Employees’ State Insurance

H. (a) In respect of amounts as mentioned under 205C of the Companies Act, 2013 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31,2024.

(b) CSR liability of Rs.Nil Lakhs (Paid during the year Rs 17.00 Lakhs)

I. BASIC AND DILUTED EARNINGS PER SHARE:

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate.

Fair value of financial instruments as referred to in note above has been classified into three categories depending on inputs used in valuation technique. Hierarchy gives highest priority to quoted prices in active market for identical assets or liabilities (level 1 measurement) and lowest priority to unobservable inputs (level 3 measurements).

The categories used are as follows:

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

Level 2: The fair value of Financial Instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data rely as little as possible on entity specific estimates.

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

Company’s policy is to recognize transfers into and transfer out of fair value hierarchy levels as at the end of the reporting period.

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Mar 31, 2018

1. Terms/rights attached to Equity Shares

The company has only one class of equity shares having a face value of Rs. 10/- (Rupees Ten) per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to received remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. In the event of distributing dividends by the company and winding up, the preference shareholders will be preferred over the equity shareholders. They do not have any voting rights except for in the conditions mentioned in the Companies Act, 2013.

2. Terms/rights attached to Preference Shares

During the year 2016-17, the Company has issued and alloted 1,60,000 Non Convertible, Cumulative, Redeemable Preference Shares of face value Rs.100/- each fully paid to Promoter and redemable at par within a period not exceeding 5(five) years. The allotment was completed in 4 trances details as dated 09.11.2016 no of shares 35000 @ Rs.100/-,dated 21.11.2016 no of shares 39000 @ Rs.100/-, dated 31.01.2017 no of shares 6000 @ Rs.100/-, dated 09.02.2017 no of shares 80000 @ Rs.100/-.These Shares carry Dividend rate @10% (Ten Percent) Per Annum and voting rights of these shares are limited to matters which directly affect the rights of Preference Shareholders. However the company, reserve the right to recall the shares at any time within a period not exceeding 5 years from the date of allotment as per the provisions of Companies Act,2013. These shares are not listed on any stock exchange.

3. Authorised Share Capital

During the year March 31,2012, the authorised share capital has been increased from Rs. 12,00,00,000 (Rupees Twelve Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10 (Rupee Ten) each to Rs. 14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10 (Rupee Ten) each and 2,00,000 (Two Lakh) Non Covertible, Cumulative, Redeemable Preference Shares of Rs.100 (Rupees Hundred) each at the Annual General Meeting of the Company held on September 26, 2011. During the year March 31,2013 the authorised share capital has been increased from Rs. 14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10 (Rupee Ten) each and 2,00,000 (Two Lakh) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each to Rs. 15,60,00,000 (Rupees Fifteen Crores Sixty Lakhs) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10 (Rupee Ten) each and 3,60,000 (Three Lakh Sixty Thousand) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each in the Annual General Meeting of the Company held on September 26, 2012. During the year March 31,2016, the authorised share capital has been increased from Rs. 15,60,00,000 (Rupees Fifteen Crores Sixty Lacs only) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10 (Rupee Ten) each amounting to Rs. 12,00,00,000 (Rupees Twelve Crores) and 3,60,000(Three Lac Sixty Thousand) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each amounting to Rs. 3,60,00,000 (Rupees Three Crore Sixty Lacs only) to Rs. 17,10,00,000 (Rupees Seventeen Crore Ten Lacs only) divided into 1,35,00,000 (One Crore Thirty Five Lacs) Equity Shares of Rs. 10 (Rupee Ten) each amounting to Rs. 13,50,00,000 (Rupees Thirteen Crore Fifty Lacs only) and 3,60,000(Three Lacs Sixty Thousand) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each amounting to Rs. 3,60,00,000 (Rupees Three Crore Sixty Lacs only) in the Extra Ordinary General Meeting of the Company held on January 29, 2016.

4. Term Loans from Banks and others referred above are secured by way of first charge on entire movabale fixed assets and equitable mortgage Factory Land & Building and Plant & Machinery and other fixed assets .

5. Vehicle loans are secured by way of hypothecatioon of vehicles.

6. Provision for Employees Benefits include Provision for Gratuity & Provision for Leave Encashment.

7. Working Capital loans along with non-fund based facilities from banks are secured by way of hypothecation of present and future stock of raw materials, work-in-process, finished goods, book debts as first charge which ranks Pari-passu amongst Bankers and by way of First and Second charge on the immovable and movable assets of the company by respective banks and pledge of FDR Rs. 444.24 Lakhs)

8. Amount due to Micro, Small and Medium Enterprise:

In absence of any information submitted by vendors with regards to their registration (filing of Memorandum) under the “The Micro, Small and Medium Enterprises Development Act, 2006” Liabililty cannot be ascertained at the close of the year and hence no disclosure is made in this regard.

9. Provision for Employees Benefits include provision for Gratuity & Provision for Leave Encashment.

Note 10: First time adoption of Ind AS

This financial statement is the first financial statement that has prepared in accordance with the Ind AS together with the comparative period data as at and for the year ended 31^st March 2017, as described in the summary of significant accounting policies. The transition date to Ind AS had been carried out in accordance with Ind AS 101-First Time Adoption of Indian Accounting Standards with 1^st April 2016 as the transition date.

This note explains the exemptions availed by the company on first time adoption of Ind AS and the principal adjustments made by the company in restating its previous GAAP financial statements as at 1^st April 2016 ad financial statements as at and for the year ended 31^st March 2017 in accordance with Ind AS 101.

Exemption in accordance with Ind-AS 101 (First Time Adoption of Indian Accounting Standards)

a) For transition to Ind AS, the company has selected to adopt historical value of Building, Plant and Machinery recognized as of April 1 2016 as the deemed cost as of the transition date.

b) The company has availed the exemption of fair value measurements of financial assets or liabilities at initial recognition and accordingly has applied fair value measurement of financial assets or liabilities at initial recognition prospectively to transactions entered into on or after 1^st April 2016.

c) The estimates as 1^st April 2016 and at 31^st March,2017 are consistent with those made for the same dates in accordance with previous GAAP (after adjustments to reflect and differences in accounting policies) apart from the following items, which, under previous GAAP did not require estimation:

- Fair values of financial assets & financial liabilities

The estimates used by the Company to present these amounts in accordance with Ind AS reflect conditions as at 1^st April 2016 and 31^st March 2017.

Notes to reconciliation of equity as at 1 April 2016 and 31st March 2017 and total comprehensive income for the year ended 31st March 2017

a) Borrowings:

Under previous GAAP transaction cost 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 the initial recognition amount of financial liability and charged to profit or loss using the effective interest method. Therefore borrowings as at 31st March 2018 have been reduced with the transaction cost of Rs. 6.00 Lakhs

b) Dividend (including dividend tax)

Under Ind AS, dividend to holders of preference shares is recognized as liability in the period in which the obligation to pay is established. Under Previous GAAP, dividend payable is recorded as a liability in the period to which it relates. This has resulted in as increase in equity by Rs. 16.86 Lakhs and Rs. 19.26 Lakhs as at 31st March 2017 and 1st April, 2016 respectively. Dividend paid on preference share capital (financial Liability) has been treated as finance cost under Ind AS so has been deducted from the total comprehensive income for the year 2016-17.

c) Employee benefits

Under previous GAAP, actuarial gains and losses were recognized in the statement of profit and loss. Under Ind AS, the actuarial gains and losses form part of re-measurement of net defined benefit liability/ asset which is recognized in other comprehensive income in the respective periods. This difference has resulted in increase in net comprehensive income of Rs. 6.80 Lakhs for the year ended 31st March, 2017. However, the same does not result in difference in equity or total comprehensive income.

d) Fair Valuation of Property, Plant and Machinery

For transition to Ind AS, the company has elected to adopt carrying value or historical value of Building, Plant and Machinery recognised as of 1st April 2016 as the deemed cost as of the transition date.

e) Deferred revenue expenditure

Under previous GAAP, deferred revenue expenditure had been capitalised under ledger name “product development” as at 1st April 2016 of Rs. 71.98 Lakhs which has been written-off to the extent of Rs. 23.99 Lakhs during the year 2016-17. Under Ind AS, No such deferred revenue expenditure is allowed to be capitalised and hence such expenditure had been fully written-off from equity as at 1st April 2016. The expenditure written-off to the extent of Rs. 23.99 Lakhs had been added to the total comprehensive income for the year ended 31st March 2017.

f) Preference Share Capital

Under previous GAAP redeemable preference share capital is required to be reported under equity. Under Ind AS redeemable preference share capital with cumulative dividend right is a financial liability to be reported as a non current borrowing and hence has been reduced from equity.

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs. Nil).

B. Employee benefits

Defined benefit plan

The following table sets out the details of the defined benefits retirement plans and the amounts recognition in the financial statement:

I. Defined Contribution Plans

a. Provident Fund

b. Employers’ contribution to Employees’ State Insurance

During the year, the Company has recognized the following amounts in the Profit and Loss Account:

II. Defined Benefits Plans

Contribution to Gratuity Fund and Leave Encashment (Unfunded Scheme) in accordance with Ind AS 19, actuarial valuation was performed in respect of the aforesaid defined benefit plans based on the following assumptions:

H. (a) In respect of amounts as mentioned under 205C of the Companies Act, 2013 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2018.

(b) Other Liabilities includes CSR liability of Rs. 21.42 Lakhs

I. BASIC AND DILUTED EARNINGS PER SHARE :

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate.

---

Mar 31, 2016

1. Terms/rights attached to Equity Shares

The company has only one class of equity shares having a face value of Rs. 10 (Rupees Ten) per share. Each holder of equity shares is entitled to one vote per share . In the event of liquidation of the company, the holders of equity shares will be entitled to received remaining assets of the company, after distribution of all preferential amounts . The distribution will be in proportion to the number of equity shares held by the shareholders . In the event of distributing dividends by the company and winding up, the preference shareholders will be preferred over the equity shareholders . They do not have any voting rights except for in the conditions mentioned in the Companies Act, 2013 .

2. Terms/rights attached to Preference Shares

During the year March, 2012, the Company has issued and alloted 1,60,000 Non Convertible, Cumulative, Redeemable Preference Shares of Rs.100/- each fully paid to Promoters. These Shares carry Dividend rate @10% (Ten Percent) Per Annum and voting rights of these shares are limited to matters which directly affect the rights of Preference Shareholders. The said Preference Shares shall have tenure of 5 (Five) years, however the company, reserve the right to recall the shares after a period of 2 (Two) years or at any suitable tenure giving not less than 6 (Six) months previous notice in writing to shareholders to redeem these shares. These shares are not listed on any stock exchange

3. Authorized Share Capital

During the year March 31,2012, the authorized share capital has been increased from Rs . 12,00,00,000 (Rupees Twelve Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each to Rs.14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each and 2,00,000 (Two Lakh) Non Convertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each at the Annual General Meeting of the Company held on September 26, 2011. During the year March 31,2013 the authorized share capital has been increased from Rs . 14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each and 2,00,000 (Two Lakh) Non Convertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each to Rs.15,60,00,000 (Rupees Fifteen Crores Sixty Lakhs) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each and 3,60,000 (Three Lakh Sixty Thousand) Non Convertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each in the Annual General Meeting of the Company held on September 26, 2012. During the year March 31,2016, the authorized share capital has been increased from Rs. 15,60,00,000 (Rupees Fifteen Crores Sixty Lacs only) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each amounting to Rs.12,00,00,000 (Rupees Twelve Crores) and 3,60,000(Three Lac Sixty Thousand)Non Convertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each amounting to Rs. 3,60,00,000(Rupees Three Crore Sixty Lacs only) to Rs.17,10,00,000(Rupees Seventeen Crore Ten Lacs only) divided into 1,35,00,000 (One Crore Thirty Five Lacs) Equity Shares of Rs 10 (Rupee Ten) each amounting to Rs. 13,50,00,000(Rupees Thirteen Crore Fifty Lacs only) and 3,60,000(Three Lacs Sixty Thousand) Non Convertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each amounting to Rs.3,60,00,000(Rupees Three Crore Sixty Lacs only) in the Extra Ordinary General Meeting of the Company held on January 29,2016.

4. Term Loans from Banks and others referred above are secured by way of first charge on entire movable fixed assets and equitable mortgage Factory land and Building and Plant & Machinery and other fixed assets .

5 . Vehicle loans are secured by way of hypothecation of vehicles .

6. Provision for Employees Benefits include Provision for Gratuity & Provision for Leave Encashment.

7. Working Capital loans along with non-fund based facilities from banks are secured by way of hypothecation of present and future stock of raw materials, work-in-process, finished goods, book debts as first charge which ranks Pari-passu amongst Bankers and by way of First and Second charge on the immovable and movable assets of the company by respective banks and pledge of FDR Rs.3,52,40,709/-

8. Amount due to Micro, Small and Medium Enterprise:

In absence of any information submitted by vendors with regards to their registration (filing of Memorandum) under the “The Micro, Small and Medium Enterprises Development Act, 2006” Liabililty cannot be ascertained at the close of the year and hence no disclosure is made in this regard .

9. Provision for Employees Benefits include provision for Gratuity & Provision for Leave Encashment.

10. In accordance with Accounting Standard 15 “Employees Benefits”, the Company has classified various Benefits provided to employees as under:

I. Defined Contribution Plans

a . Provident Fund

b . Employers'' contribution to Employees'' State Insurance

During the year, the Company has recognized the following amounts in the Profit and Loss Account:

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs. Nil).

11. SEGMENT REPORTING:

As the Company''s business activities fall within a single primary business segment, viz., “''Electric Wire & Cable”, the disclosure requirement of Accounting Standard (AS) - 17 “Segment Reporting” are not applicable.

12. BASIC AND DILUTED EARNINGS PER SHARE :

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares . The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value .

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date . The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate .

13. (a) In respect of amounts as mentioned under 205C of the Companies Act, 1956 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2016 .

(b) Out of CSR liability of Rs. 16,19,711/- (CY Rs 7,21,155/- & PY Rs 8,98,556/-) a sum of Rs. 2,00,000/- was deposited during the year

14. In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31st March, 2016 have a value on realization in the ordinary course of the Company''s business at least equal to the amount at which they are stated in the balance sheet . In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances .

15. Previous year figures have been regrouped and/or reclassified wherever necessary to conform to those of the Current year grouping and/or classification.

---

Mar 31, 2015

1. Company Overview

Cords Cable Industries Limited ("the Company") was incorporated on October 21, 1991 as "Private Limited" and it was later converted into "Public Limited" on May 10, 2006. The Company manufactured or developed a wide range of specialized cables to address the specific requirements of industries involving modern process technologies, instrumentation & communication demanding the highest standards of precisions and reliability with assured quality and safety standards.

2. SEGMENT REPORTING:

As the Company's business activities fall within a single primary business segment, viz., "'Electric Wire & Cable", the disclosure requirement of Accounting Standard (AS) - 17 "Segment Reporting" are not applicable.

3. BASIC AND DILUTED EARNINGS PER SHARE :

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate.

4. In respect of amounts as mentioned under 205C of the Companies Act, 1956 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2015.

5. In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31st March, 2015 have a value on realization in the ordinary course of the Company's business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances.

6. Previous year figures have been regrouped and/or reclassified wherever necessary to conform to those of the Current year grouping and/or classification.

---

Mar 31, 2014

1. Company Overview

Cords Cable Industries Limited ("the Company") was incorporated on October 21, 1991 as "Private Limited" and it was later converted into "Public Limited" on May 10,2006. The Company manufactured or developed a wide range of specialized cables to address the specific requirements of industries involving modern process technologies, instrumentation & communication demanding the highest standards of precisions and reliability with assured quality and safety standards.

2. Basis of Financial Statements

i) Statement of Compliance

The financial Statements are prepared under the historical cost convention on an accrual basis, in accordance with the generally accepted accounting principals in India and compliance with the applicable accounting standards as notified under the Companies (Accounting Standard) Rules, 2006 as amended and as per Revised Schedule VI to the Companies Act, 1956. All assets and liabilities have been classified as current or non- current as per Company''s normal operating cycle and other criteria set out in Revised Schedule VI to Companies Act, 1956.

ii) Use of Estimates

The presentation of financial statements conformity with the generally accepted accounting principals requires estimates and assumptions to be made that affect the reported amount of assets and liabilities and disclosure of contingent liabilities as on date of the financial statements and the reported amount of revenue and expenses during the reporting year. Differences between the actual results and estimates are recognized in the year in which the results are known or materialized.

3. Terms/rights attached to Equity Shares

The company has only one class of equity shares having a face value of Rs. 10 (Rupees Ten) per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to received remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. In the event of distributing dividends by the company and winding up, the preference shareholders will be preferred over the equity shareholders. They do not have any voting rights except for in the conditions mentioned in the Companies Act, 1956.

4. Terms/rights attached to Preference Shares

During the year March, 2012, the Company has issued and alloted 1,60,000 Non Convertible, Cumulative, Redeemable Preference Shares of Rs.100/- each fully paid to Promoters. These Shares carry Dividend rate @ 10% (Ten Percent) per annum and voting rights of these shares are limited to matters which directly affect the rights of Preference Shareholders. The said Preference Shares shall have tenure of 5 (Five) years, however the company, reserve the right to recall the shares after a period of 2 (Two) years or at any suitable tenure giving not less than 6 (Six) months previous notice in writting to sharehlders to redeem these shares. These shares are not listed on any stock exchange.

5. Authorised Share Capital

During the year March 31,2012, the authorised share capital has been increased from Rs. 12,00,00,000 (Rupees Twelve Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each to Rs. 14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupees Ten) each and 2,00,000 (Two Lakh) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each at the Annual General Meeting of the Company held on September 26, 2011. During the year March 31,2013 the authorised share capital has been increased from Rs.14,00,00,000 (Rupees Fourteen Crores) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupee Ten) each and 2,00,000 (Two Lakh) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each to Rs.15,60,00,000 (Rupees Fifteen Crores Sixty Lakhs) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs.10 (Rupees Ten) each and 3,60,000 (Three Lakh Sixty Thousand) Non Covertible, Cumulative, Redeemable Preference Shares of Rs. 100 (Rupees Hundred) each in the Annual General Meeting of the Company held on September 26,2012.

6. Term Loans from Banks and others referred above are secured by way of first charge on entire movable fixed assets and equitable mortgage Factory Land and Building and Plant & Machinery and other fixed assets.

7. Vehicle loans are secured by way of hypothecation of vehicles.

10.1. Working Capital loans along with non-fund based facilities from banks are secured by way of hypothecation of present and future stock of raw materials, work-in-process, finished goods, book debts as first charge which ranks Pari-passu amongst Bankers and by way of First and Second charge on the immovable and movable assets of the company by respective banks and pledge of FDR Rs.3,28,00,000)

8. Amount due to Micro, Small and Medium Enterprise:

In absence of any information submitted by vendors with regards to their registration (filing of Memorandum) under the "The Micro, Small and Medium Enterprises Development Act, 2006" Liabililty cannot be ascertained at the close of the year and hence no disclosure is made in this regard.

9. CONTINGENT LIABILITIES

a) CLAIMS AGAINST COMPANY NOT ACKNOWLEDGED AS DEBTS:

Details of various show cause notices & cases against which the Company / Department is in appeal and against which no demand is deposited are given below:

Name of the Nature of dues Amount Period to which Statute (Rs) the amount relates

Central Excise Excise Duties Act, 1944

Excise Duties 359716/- 2005-06 Penalty 75000/- Less: Pre-Deposited 100000/-

Excise Duties 330225/- 2004-05 Penalty 330225/- Less: Pre-Deposited 150000/-

Excise Duties 162054/- 2005-06 Penality 162054/-

Excise Duties 176867/- 2005-06 Penalty 50000/-

Excise Duties 161169/- 2006-07 Penalty 161169/-

Excise Duties 3159709/- 2006-07

Excise Duties 5783018/- 2006-07

Excise Duties 260222/- 2006-07 Penalty 50000/-

Excise Duties 746412/- 2004-05 Penalty 746412/- Less: .Pre-Deposited 350000/-

Excise Duties 6024771/- 2007-08

Excise Duties 67441/- 2007-08

Excise Duties 612151/- 2007-08

Excise Duties 2281042/- 2007-08

Excise Duties 5437100/- 2008-09

Excise Duties 1309877/- 2008-09

Excise Duties 15271114/- 2009-10

Excise Duties 15337611/- 2009-10

Excise Duties 1105939/- 2009-10 Recovered by 1616762/- Central Excise along with Int. & penalty

Excise Duties 337944/- 2010-11 Penalty 25000/- Recovered by 362944/- Central Excise along with Int. & penalty

Excise Duties 406601/- 2010-11

Excise Duties 18237626/- 2010-11

Interest on 1003041/- 2009-10 Service Tax Penalty 2000/- Recovered by 1160037/- Central Excise along with Int. & penality

Excise Duties 276589/- 2011-12 Excise Duties 236874/- 2008-09 Penalty 236874/- to 2011-12 Less: 120976/- Recovered by 194700/- Central Excise & balance to be recovered along with Interest

Excise Duties 15568226/- 2011-12

Service Tax 601175/- 2008-09 Penalty 2000/-

Service Tax 23730/- 2013-14

Excise 1588525/- 2013-14

Excise 13545628/- 2011-12 (Penalty)

Name of the Forum where dispute Statute is pending

Central Excise Act, 1944

Commissioner (Appeals),Central Excise & Custom, Jaipur CESTAT, New Delhi CESTAT, New Delhi Commissioner of Central Excise & Custom, Jaipur

Commissioner (Appeals), Central Excise & Custom, Jaipur

Commissioner (Appeals), Central Excise & Custom, Jaipur

CESTAT, New Delhi

Commissioner (Appeals), Central Excise & Custom, Jaipur

CESTAT, New Delhi

CESTAT, New Delhi

CESTAT, New Delhi

Commissioner Central Excise & Custom, Jaipur

Commissioner (Appeals), Central Excise & Custom, Jaipur

CESTAT, New Delhi

Joint Commissioner, Central Excise, jaipur

CESTAT, New Delhi

CESTAT, New Delhi

Joint Commissioner, Central Excise, Jaipur

Asst Commissioner, Central Excise, Bhiwadi Asst Commissioner, Central Excise, Bhiwadi

Commissioner of Central Excise, Jaipur-I

Commissioner of Central Excise, Jaipur-I Asst Commissioner, Central Excise, Bhiwadi

Asst Commissioner, Central Excise, Bhiwadi Commissioner of Central Excise, Jaipur-I

Addl. Commissioner, Central Excise, Jaipur

Assistant. Commissioner, Central Excise, Bhiwadi

Addl. Commissioner Central Excise, Jaipur

Commissioner Central Excise, Jaipur

b) Other Contingent Liabilities Amount (Rs. in Lacs)

Particulars 2013-14 2012-13

Guarantees issued by Bankers* 9083.39 9107.92

L/C''s negotiated by bank 1325.51 436.28

In respect of Bill factored from banks/Factoring agency 1219.88 1478.99

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs. Nil).

10. SEGMENT REPORTING:

As the Company''s business activities fall within a single primary business segment, viz., "Electric Wire & Cable", the disclosure requirement of Accounting Standard (AS) - 17 "Segment Reporting" are not applicable.

11. Disclosure in respect of Related Parties as per Accounting Standard, AS-18 ''Related Parties Disclosures'' as notified by companies (Accounting Standards) Rules, 2006, as amended:

a) Name and Nature with related parties :

i) Key Management Personnel Nature of Relationship

Naveen Sawhney Managing Director

Devender Kumar Prashar Joint Managing Director

ii) RELATIVES of Key Nature of Relationship Management Personnel

Varun Sawhney Son of Mr. Naveen Sawhney

Rahul Prashar Son of Mr. D.K. Prashar

Gaurav Sawhney Son of Mr. Naveen Sawhney

Adarsh Sawhney Wife of Mr. Naveen Sawhney

Adesh Prashar Wife of Mr. D.K. Prashar

Amit Prashar Son of Mr. D.K. Prashar

12. BASIC AND DILUTED EARNINGS PER SHARE :

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate.

13. As at March 31,2014, the company had Rs. 58,725/- as outstanding in the refund account with ICICI bank towards unpaid application money received by the company for allotment of shares and is due for refund. This amount is not available for use by the company and will be credited to Investor Education & Protection Fund as and when due unless claimed by share holders earlier to the specified date.

14. In respect of amounts as mentioned under 205C of the Companies Act, 1956 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2014.

15. In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31 st March, 2014 have a value on realization in the ordinary course of the Company''s business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances.

16. Due to shortage and interrupted supply of raw material company was not able to produce desirable quantity hence, company was operating single shift and depreciation was charged accordingly.

17. Previous year figures have been regrouped and/or reclassified wherever necessary to conform to those of the Current year grouping and/or classification.

---

Mar 31, 2013

1. Company Overview

Cords Cable Industries Limited ("the Company") was incorporated on October 21, 1991 as "Private Limited" and it was later converted into "Public Limited" on May 10, 2006. The Company manufactures and develops a wide range of specialized cables to address the specific requirements of industries involving modern process technologies, instrumentation & communication demanding the highest standards of precisions and reliability with assured quality and safety standards.

2. Basis of Financial Statements

I) Statement of Compliance

The financial Statements are prepared under the historical cost convention on an accrual basis, in accordance with the generally accepted accounting principals in India and compliance with the applicable accounting standards as notified under the Companies (Accounting Standard) Rules, 2006 as amended and as per Revised Schedule VI to the Companies Act, 1956. All assets and liabilities have been classified as current or non-current as per Company''s normal operating cycle and other criteria set out in Revised Schedule VI to Companies Act, 1956.

II) Use of Estimates

The presentation of financial statements conformity with the generally accepted accounting principals requires estimates and assumptions to be made that affect the reported amount of assets and liabilities and disclosure of contingent liabilities as on date of the financial statements and the reported amount of revenue and expenses during the reporting year. Differences between the actual results and estimates are recognized in the year in which the results are known or materialized.

3. CONTINGENT LIABILITIES

a) CLAIMS AGAINST COMPANY NOT ACKNOWLEDGED AS DEBTS:

Details of various show cause notices & cases against which the Company / Department is in appeal and against which no demand is deposited are given below:

b) Other Contingent Liabilities Amount (Rs. in Lacs)

Particulars (2012-13) (2011-12)

Guarantees issued by Bankers* 9107.92 8687.17

L/C''s negotiated by bank 436.28 1023.15

In respect of Bill factored from banks/Factoring agency 1478.99 2509.46

*Bank Guaranties includes BG''s amounting to Rs 3275.60 Lacs (PY 3375.60 Lacs) extended to Raw Materials suppliers for credit period extended to company and the same is accounted for in sundry creditors.

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs. Nil).

4. SEGMENT REPORTING:

As the Company''s business activities fall within a single primary business segment, viz., "''Electric Wire & Cable", the disclosure requirement of Accounting Standard (AS) – 17 "Segment Reporting" are not applicable.

5. BASIC AND DILUTED EARNINGS PER SHARE :

The basic earnings per equity share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The number of equity shares and potential diluted equity shares are adjusted for stock split, bonus shares, Convertible Preference Shares, Share Warrants and the potential dilutive effect of Employee Stock Option Plan as appropriate.

6. As at March 31, 2013, the company had Rs. 58,725/- as outstanding in the refund account with ICICI bank towards unpaid application money received by the company for allotment of shares and is due for refund. This amount is not available for use by the company and will be credited to Investor Education & Protection Fund as and when due unless claimed by share holders earlier to the specified date.

7. In respect of amounts as mentioned under 205C of the Companies Act, 1956 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2013.

8. In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31st March, 2013 have a value on realization in the ordinary course of the Company''s business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances.

9. Previous year figures have been regrouped and/or reclassified wherever necessary to conform to those of the Current year grouping and/or classification.

---

Mar 31, 2012

1.1 The company has only one class of Equity shares having a par value of Rs.10/- per share. The holders of equity shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share. In the event of liquidation, Equity shareholders will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts in proportion to the number of shares held to the total equity shares outstanding as on that date.

1.2 During the year, the Company has issued and allotted 1,60,000 Non-Convertible, Cumulative, redeemable Preference Shares of Rs.100/- each fully paid to its Promoters. These shares carry Dividend rate of 10% (Ten Percent) Per Annum and votings rights of these shares are limited to matters which directly affect the rights of Preference Shareholders. The said Preference shares shall have tenure of 5 (five) years, however the company, reserves the right to recall the shares after a period of 2 (two) years or at any suitable tenure giving not less than 6 (six) months previous notice in writing to shareholders to redeem these shares. These shares are not listed on any stock exchange.

1.3 The Details of shareholders holding more than 5% shares :

2.1 External Commercial Borrowing referred above are secured by way of first charge on the entire Movable fixed assets and equitable mortgage on Factory land and Building and Plant and Machinery situated at Kaharani.

2.2 Term Loans from Banks and others referred above are secured by way of equitable mortgage of Chopanki and Kaharani land and building and hypothecation of Plant & Machinery and other fixed assets.

2.3 Vehicle loans are secured by way of hypothecations of vehicles.

3.1 Provision for Employees Benefits Include Provision for Gratuity & Provision for Leave Encashment.

4.1 Working Capital loans along with non-fund based facilities from banks are secured by way of hypothecation of present and future stock of raw materials, work-in-process, finished goods, book debts as first charge which ranks Pari-passu amongst Bankers and by way of Second charge on the immovable and movable assets of the company by respective banks and pledge of FDR for Rs. 28,00,000/- )

5.1 Amount due to Micro, Small and Medium Enterprise:

In absence of any information submitted by vendors with regards to their registration (filing of Memorandum) under the "The Micro, Small and Medium Enterprises Development Act,2006" Liability cannot be ascertained at the close of the year and hence no disclosure is made in this regard.

6.1 In accordance with Accounting Standard 15 "Employees Benefits", the Company has classified various Benefits provided to employees as under:

I. Defined Contribution Plans

a. Provident Fund

b. Employers' contribution to Employees' State Insurance

7. CONTINGENT LIABILITIES

a) CLAIMS AGAINST COMPANY NOT ACKNOWLEDGED AS DEBTS:

Details of various show cause notices & cases against which the Company / Department is in appeal and against which no demand is deposited are given below :

c) Capital & Other Commitments

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) Nil (P.Y. Rs.243.28 Lacs).

8. SEGMENT REPORTING:

As the Company's business activities fall within a single primary business segment, viz., "'Electric Wire & Cable", the disclosure requirement of Accounting Standard (AS) - 17 "Segment Reporting" are not applicable.

9. RELATED PARTY DISCLOSURE:

As per Accounting Standard 18, "Related Party Disclosure" issued by The Institute of Chartered Accountants on India, the disclosures of transactions with the Related Parties as defined in the Accounting Standard are given below-

10. During the year, Company has made provision for Minimum Alternate Tax (MAT) of Rs.1,48,74,246/- Considering the future expected benefits, the company has recognize Rs. 10,71,410/- as MAT entitlement credit representing excess of MAT provision over current tax.

11. As at March 31, 2012, the company had Rs. 58,725/- as outstanding in the refund account with ICICI bank towards unpaid application money received by the company for allotment of shares and is due for refund. This amount is not available for use by the company and will be credited to Investor Education & Protection Fund as and when due unless claimed by share holders earlier to the specified date.

12. In respect of amounts as mentioned under 205C of the Companies Act, 1956 there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2012.

13. In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31st March, 2012 have a value on realization in the ordinary course of the Company's business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances.

14. Previous year figures have been regrouped and/or reclassified wherever necessary to conform to those of the Current year grouping and/or classification.

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Mar 31, 2011

A. CONTINGENT LIABILITIES

1) Other Contingent Liabilities Amount (Rs in Lacs)

Particulars (2010-11) (2009-10)

Guarantees issued by Bankers* 7524.95 6592.13 Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) 243.28 1935.21

L/C's negotiated by bank 46.68 0.00

In respect of Bill factored from banks/Factoring agency 2496.09 2117.00

*Bank Guaranties includes BG's amounting to Rs 3240.60 Lacs (PY 3360.60 Lacs) extended to Raw Materials suppliers for credit period extended to company and the same is accounted for in sundry creditors.

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

3) The company was allotted industrial land bearing industrial plot No. E-520, Industrial Area, Chopanki, Bhiwadi, Rajasthan measuring 5400 sq. mt. @ Rs. 600/- per sq. mt. by RIICO Ltd. vide allotment letter No. 7912 dated 26.02.2005 which was capitalized under Fixed Assets (Land). However, the Lease Deed was executed by RIICO for area measuring 3952 sq. mt. on 09.03.2007. The company has taken up the matter with RIICO Ltd., the final outcome of which is awaited. Pending finalization of the matter, no accounting adjustment has been done in value of land.

4) NEW PROJECT STATUS:

The Company has started initial commercial production from January 03, 2011 at its new cable expansion manufacturing facility at Kahrani, Bhiwadi, Distt-Alwar, Rajasthan. This new state of art facility has a potential to double-fold enhance Company's production capacity and thereby its turnover.

5) EMPLOYEE BENEFITS:

In accordance with Accounting Standard 15 “Employees Benefits”, the Company has classified various Benefits provided to employees as under:

I Defined Contribution Plans

a. Provident Fund

b. Employers' contribution to Employees' State Insurance

6) SEGMENT REPORTING:

As the Company's business activities fall within a single primary business segment, viz., “'Electric Wire & Cable”, the disclosure requirement of Accounting Standard (AS) - 17 “Segment Reporting” are not applicable.

7) RELATED PARTY DISCLOSURE:

As per Accounting Standard 18, “Related Party Disclosure” issued by The Institute of Chartered Accountants on India, the disclosures of transactions with the Related Parties as defined in the Accounting Standard are given below-

Key Management Personnel Nature of Relationship

Naveen Sawhney Managing Director

D.K. Prashar Joint Managing Director

RELATIVES of Key Nature of Relationship Management Personnel

Varun Sawhney Son of Mr. Naveen Sawhney

Rahul Prashar Son of Mr. D.K. Prashar

Gaurav Sawhney Son of Mr. Naveen Sawhney

Adarsh Sawhney Wife of Mr. Naveen Sawhney

Adesh Prashar Wife of Mr. D.K. Prashar

Amit Prashar Son of Mr. D.K. Prashar

8) During the year, Company has made provision for Minimum Alternate Tax (MAT) of Rs. 1,57,24,834/- Considering the future expected benefits, the company has recognize Rs. 1,03,31,873/- as MAT entitlement credit representing excess of MAT provision over current tax.

9) INITIAL PUBLIC OFFERING:

The Company has raised Rs. 41,64,75,000/- through Initial Public Offer (IPO) during the financial year 2007-08 by issuance of 3085000 equity shares (including Employees Reservation Portion of 70,000 equity shares) of Rs.10/- each at a premium of Rs. 125/- per share.

10) As at March 31, 2011, the company had Rs. 58,725/- as outstanding in the refund account with ICICI bank towards unpaid application money received by the company for allotment of shares and is due for refund. This amount is not available for use by the company and will be credited to Investor Education & Protection Fund as and when due unless claimed by share holders earlier to the specified date.

11) Amounts due to Micro, Small and Medium Enterprises:

In absence of any information submitted by vendors with regards to their registration (filling of Memorandum) under “The Micro, Small and Medium Enterprises Development Act, 2006 ”, Liability can not be ascertained at the close of the year and hence no disclosures have been made in this regards.

12) In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at 31st March, 2011 have a value on realization in the ordinary course of the Company's business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the recoverability of these balances.

13) Schedules 1 to 18 are annexed to and form an integral part of the Balance Sheet and Profit & Loss Account.

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Mar 31, 2010

A. CONTINGENT LIABILITIES

1) Claims against the Company not acknowledged as debts:

Details of various show cause notices & cases against which the Company / Department is in appeal and against which no demand is deposited are given below:

Name of the Nature of dues Amount Period to which the Forum where dispute is pending Statute (Rs) amount relates

Central Excise Excise Duties 359716/- 2005-06 Commissioner (Appeals),Central Act, 1944 Penalty 75000/- Excise & Custom, Jaipur

Excise Duties 330225/- 2004-05 Asst.Commissioner, Central

Excise, Bhiwadi Excise Duties 162054/- 2005-06 Appeal Pending in CEGAT,Jaipur Excise Duties 176867/- 2005-06 Commissioner of Central Excise & Penalty 50000/- Custom, Jaipur

Excise Duties 161169/- 2006-07 Commissioner (Appeal), Central Penalty 161169/- Excise, Jaipur

Excise Duties 3159709/- 2006-07 Addl.Commissioner Central Excise, Jaipur

Excise Duties 5783018/- 2006-07 Addl.Commissioner Central Excise, Jaipur

Excise Duties 260222/- 2006-07 Addl.Commissioner Central Excise, Penalty 50000/- Jaipur

Excise Duties 81681/- 2006-07 Superitendent, of Central Excise, Bhiwadi

Excise Duties 746412/- 2004-05 Joint Commissioner of Central Excise, Jaipur

Excise Duties 6024771/- 2007-08 Commissioner (Appeals), Central Excise & Custom, Jaipur

Excise Duties 67441/- 2007-08 Asst.Commissioner, Central Excise, Bhiwadi

Excise Duties 612151/- 2007-08 Commissioner Central Excise & Custom, Jaipur

Excise Duties 2281042/- 2007-08 Joint Commissioner, Central Excise, Jaipur

Excise Duties 5437100/- 2008-09 Joint Commissioner, Central Excise, Jaipur Excise Duties 1309877/- 2008-09 Joint Commissioner, Central Excise, Jaipur

Excise Duties 15271114/- 2009-10 Commissioner, Central Excise, Jaipur Excise Duties 15337611/- 2009-10 Commissioner, Central Excise, Jaipur

Service Tax 1397962/- 2006-07 Directorate General of Central Excise Intelligence, Delhi

Sales Tax 7232954/- 2008-09 Addl. Commissioner & Special

Penalty 1954386/- 2008-09 Joint Commissioner

Interest 565697/- 2008-09

2) Other Contingent Liabilities

Amount (Rs. in Lacs)

Particulars (2009-10) (2008-09)

Guarantees issued by Bankers* 6592.13 5663.45

Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of Advances) 1935.21 617.49

L/Cs negotiated by bank 1384.10 802.04

In respect of Bill factored from banks/Factoring agency 2117.00 1048.37

*Bank Guarantee of Rs 3360.60 Lacs (PY 2810.60 Lacs) given to Raw Materials suppliers for credit extended to company and the same is accounted for in sundry creditors.

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

2) The company was allotted industrial land bearing industrial plot No. E-520, Industrial Area, Chopanki, Bhiwadi, Rajasthan measuring 5400 sq. mt. @ Rs. 600/- per sq. mt. by RIICO Ltd. vide allotment letter No. 7912 dated 26.02.2005 which was capitalized under Fixed Assets (Land). However, the Lease Deed was executed by RIICO for area measuring 3952 sq. mt. on 09.03.2007. The company has taken up the matter with RIICO Ltd., the final outcome of which is awaited. Pending finalization of the matter, no accounting adjustment has been done in value of land.

* The installed capacity as shown above has been certified by the management and not verified by the Auditors,

being a technical matter.

Note : As the company is producing more than 400 sizes of cable and the product mix changes depending on the order, hence plant is designed to adopt the changeability and it is difficult to determine the exact capacity for each type of cable.

3) New Project Status

Change in land for upcoming project

Due to recessionary market conditions, the management decided to hold on to the project implementation for a while. In view of the improvement in the situation, the project is now expected to be commissioned expeditiously and is likely to commence production in second-half of financial year 2010-11. Also, RIICO allotted an alternative piece of land for the project due to certain issues with the proper procurement of the previous piece of land. The new land is better located and more suitable for the project.

Also, some of the machineries have temporarily been commissioned at companys present site at Chopanki.

4) Employee Benefits

In accordance with Accounting Standard 15 "Employees Benefits", the Company has classified various Benefits provided to employees as under :

Defined Contribution Plans

a. Provident Fund

b. Employers contribution to Employees State Insurance

5) Segment Reporting

As the Companys business activities fall within a single primary business segment, viz., "Electric Wire & Cable", the disclosure requirement of Accounting Standard (AS)-17 "Segment Reporting" are not applicable.

6) Related Party Disclosure

As per Accounting Standard 18, "Related Party Disclosure" issued by The Institute of Chartered Accountants on India, the disclosures of transactions with the Related Parties as defined in the Accounting Standard are given below-

Key Management Personnel

- DIRECTORS

Naveen Sawhney

D.K. Prashar

Rakesh Malhotra

- RELATIVES of Key Management Personnel

Varun Sawhney

Rahul Prashar

Gaurav Sawhney

Suchita Malhotra

7) Initial Public Offering

The Company has raised Rs. 41,64,75,000/- through Initial Public Offer (IPO) during the financial year 2007-08 by issuance of 3085000 equity shares (including Employees Reservation Portion of 70000 equity shares) of Rs. 10/- each at a premium of Rs. 125/- per share.

Out of the funds raised through IPO Rs. 41,64,75,000/-, Rs, 34,27,41,251/- (as detailed hereunder) have been utilized till 31st March 2010 and balance are lying unutilized and will be utilized as per the "Proposed Deployment of funds" mentioned in the Chapter the "Object of the issue" of the Prospectus. The unutilized funds have been temporarily kept in fixed deposit with Banks and balance in bank account.

8) As at March 31, 2010, the company had Rs. 58,725/- as outstanding in the refund account with ICICI bank towards unpaid application money received by the company for allotment of shares and is due for refund. This amount is not available for use by the company and will be credited to Investor Education & Protection Fund as and when due unless claimed by share holders earlier to the specified date.

9) Amounts due to Micro, Small and Medium Enterprises:

In absence of any information submitted by vendors with regards to their registration (filling of Memorandum) under "The Micro, Small and Medium Enterprises Development Act, 2006 ", Liability can not be ascertained at the close of the year and hence no disclosures have been made in this regards.

10) In the opinion of the Board of Directors, all currents assets, loans and advances appearing in the balance sheet as at March31, 2010 have a value on realization in the ordinary course of the Companys business at least equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, no provision is required to be made against the of these balances.

11) Schedules 1 to 18 are annexed to and form an integral part of the Balance Sheet and Profit & Loss Account.