Notes to Accounts of Elegant Marbles & Grani Industries Ltd.

Mar 31, 2025

1.12. Provisions and Contingent liabilities and contingent assets

Provisions represent liabilities for which the amount or timing is uncertain. Provisions are recognized when the Company has a
present obligation (legal or constructive), as a result of past events, and it is probable that an outflow of resources, that can be reliably
estimated, will be required to settle such an obligation.

If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows to net
present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of money and,
where appropriate, the risks specific to the liability. Unwinding of the discount is recognized in profit or loss as a finance cost.
Provisions are reviewed at each reporting date and are adjusted to reflect the current best estimate.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognised
because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognised because it cannot be measured reliably. The Company does
not recognize a contingent liability but discloses its existence in the financial statements.

Contingent assets are not recognised but disclosed in the financial statements when an inflow of economic benefits is probable.

1.13. Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be
measured reliably.

Sale of goods:

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to
the buyer either at the time of dispatch or delivery or when the risk of loss transfers. Export sales are generally recognized based on
the shipped on board date as per bill of lading, which is when substantial risks and rewards of ownership are passed to the customers.

Revenue from sale of goods is net of taxes and recovery of charges collected from customers like transport, packing etc. are not
treated as part of sales. Sales returns are recognised when appropriate. Revenue is measured at the fair value of consideration
received or receivable and is net of price discounts, allowance for volume rebates and similar items.

Claims/Refunds not ascertainable with reasonable certainty are accounted for on final settlement and are recognized as revenue on
certainty of receipt on prudent basis.

Rendering of services:

Revenue from sale of services are recognized when the services are rendered.

Other Income

Dividend income on investments is recognised when the right to receive the dividend is established.

Interest income is recognized on a time proportionate basis taking into account the amounts invested and the rate of interest on
prudent basis.

1.14. EMPLOYEE BENEFITS

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees
are recognised as an expense during the period when the employees render the services.

(b) Defined contribution plans such as Provident fund & Superannuation fund

Post-employment benefits

Defined contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to a separate
entity. The Company makes specified monthly contributions towards Provident Fund, Superannuation Fund and Pension Scheme. The
Company’s contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee
renders the related service.

Defined benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of
resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service as per the Payment of Gratuity
Act, 1972.

Re-measurements of defined benefit plans in respect of post-employment are charge to Other Comprehensive Income.

Empolyee Separation Costs

Compensation to employees who opt for retirement under the voluntary retirement scheme, if any, of the Company is payable in the
year of exercise of option by the employee. The Company recognises the employee separation cost when the scheme is announced
and the Company is demonstrably committed to it.

1.15. Foreign exchange transactions and translation

The financial statements are presented in Indian rupee (INR), which is Company’s functional and presentation currency.

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains and losses
on settlement of foreign currency transactions are recognised in the Statement of Profit and Loss.

Exchange differences arising on settlement or translation of monetary items are recognised in Statement of Profit and Loss except to
the extent of exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings that are
directly attributable to the acquisition or construction of qualifying assets, are capitalized as cost of assets.

Monetary foreign currency assets and liabilities at the year-end are translated at the year-end exchange rates and the resultant
exchange differences are recognised in the Statement of Profit and Loss.

1.16. TAXES ON INCOME

Income tax comprises current and deferred tax. Income tax expense is recognized in the statement of profit and loss except to the
extent it relates to items directly recognized in equity or in other comprehensive income.

• Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities,
based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

• Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the
reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period.

1.17. Government Grants

Government grants are recognised when there is reasonable assurance that the grant will be received and all attached conditions will
be complied with.

Government grants related to revenue are recognised on a systematic basis in the statement of profit and loss over the periods
necessary to match them with the related costs which they are intended to compensate. Such grants are deducted in reporting the
related expense. When the grant relates to an asset, it is recognized as income over the expected useful life of the asset.

In case a non-monetary asset is given free of cost, it is recognised at a fair value. When loans or similar assistance are provided by
government or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is
recognized as government grant. The loan or assistance is initially recognized and measured at fair value and the government grant is
measured as the difference between the initial carrying value of the loan and the proceeds received.

1.18. Earning Per Share

The basic earning per share (EPS) is computed by dividing the net profit after tax available to equity share holdong for the year by the
weighted average number of equity shares outstanding during the current year.

The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of potential dilutive equity shares unless
impact is anti-dilutive.

27.4 Expenditure in Foreign Currency

Foreign Travelling expenses is Rs. 688635/- -

27.5 CONTINGENT LIABILITY

(i) The company has preferred appeals before the Commissioner of Income Tax (Appeals), Mumbai against the orders
passed by Deputy Commissioner of Income Tax for the assessment year 2017-18 raising a demand of Rs.5,15,403/- .

(ii) The Company has executed Letter of Undertaking indemnifying the President of India against any liability that may
arise on account of Goods & Service Tax provisions on goods exported by it.

27.6 POST RETIREMENT BENEFIT PLANS
Defined Benefits Plan

(I Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. The Company pays
gratuity to the employees whoever has completed five years of service with the Company at the time of
resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service as per the
Payment of Gratuity Act, 1972.

The financial instruments are categorized into two levels based on the inputs used to arrive at fair value measurements as
described below:

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

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

Liquidity Risk

Liquidity risk is the risk that suitable sources of funding for the company''s business activities may not be available. Prudent
liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through
an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain
funds at higher rates. The Company monitors rolling forecasts of the Company''s cash flow position and ensure that the
Company is able to meet its financial obligation at all times including contingencies.

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing
financial loss to the company. It arises from cash and cash equivalents, financial instruments and principally from credit
exposures to customers relating to outstanding receivables. The Company deals with highly rated counter parties.

27.12 Dividend

Dividends declared by the Company are based on the profit available for distribution. On May 30 2025, the Board of
Directors of the Company have proposed a final dividend of Rs. 1/- per share in respect of the year ended March 31,
2025 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash
outflow of approximately Rs. 29.63 Lakhs.

27.13: Additional Regulatory Information

1 The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee
and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included
in Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

2. The company has not revalued its Property, Plant and Equipment during the year.

3. The Company does not have any Capital Work-in-Progress as on the date of the Balance Sheet. The Company also
does not have any intangible asset under development.

4. The company has not made any loans or advances in the nature of loans to any promoters, directors, KMP, and its
related parties.

5. The Company is neither in possession of any benami property, nor any proceeding has been initiated or is pending
against the Company for holding any benami property.

6. The company has not been sanctioned limits against hypothecation of its current assets during the year.

7. The Company has not been declared as a wilful defaulter by any bank or financials institution or lender during the year.

8. As per the information available with the Company, it does not have any transactions with companies which are struck
off under section 248 or Section 560 of the Companies Act, 2013.

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

10. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017, wherever required.

11. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign

entities (Intermediaries) with the understanding that the Intermediary shall:

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

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

12. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party)
with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
funding party (ultimate beneficiaries); or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

13. Having regard to the expert opinion obtained by the management, the provisions of Section 135 "Corporate Social
Responsibility" are not applicable on the Company.

14. The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

15. The company does not have any borrowed funds or share premium.

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

17. The Company has not recognised any prior period items in its audited annual accounts. In terms of its policy generally

followed over the years, the liability is recognised in the year of its crystalisation.

18. The company has reclassified/regrouped/rearranged the previous year figures in accordance with requirement for the
current period.

In terms of our report of even date. For & on behalf of Board of Directors

For JD Pawar & Associates Rajesh Agrawal

Chartered Accountants Chairman & Managing Director

(FRN : 141721W)

Jasvant D. Pawar ^{Hitesh Kothari Pooja Ponda}

Chief Financial Officer Company Secretary

M. No.168998 ^{ACS 66677}

Place : Mumbai Place : Mumbai

Date : May 30, 2025 Date : May 30, 2025

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Mar 31, 2024

1.12. Provisions and Contingent liabilities and contingent assets

Provisions represent liabilities for which the amount or timing is uncertain. Provisions are recognized when the Company has a present obligation (legal or constructive), as a result of past events, and it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.

If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognized in profit or loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best estimate.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or nonoccurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognised because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognised because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

Contingent assets are not recognised but disclosed in the financial statements when an inflow of economic benefits is probable.

1.13. Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be measured reliably.

Sale of goods:

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer either at the time of dispatch or delivery or when the risk of loss transfers. Export sales are generally recognized based on the shipped on board date as per bill of lading, which is when substantial risks and rewards of ownership are passed to the customers.

Revenue from sale of goods is net of taxes and recovery of charges collected from customers like transport, packing etc. are not treated as part of sales. Sales returns are recognised when appropriate. Revenue is measured at the fair value of consideration received or receivable and is net of price discounts, allowance for volume rebates and similar items.

Claims/Refunds not ascertainable with reasonable certainty are accounted for on final settlement and are recognized as revenue on certainty of receipt on prudent basis.

Rendering of services:

Revenue from sale of services are recognized when the services are rendered.

Other Income:

Dividend income on investments is recognised when the right to receive the dividend is established.

Interest income is recognized on a time proportionate basis taking into account the amounts invested and the rate of interest on prudent basis.

1.14. EMPLOYEE BENEFITS

Short term employee benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees are recognised as an expense during the period when the employees render the services.

(b) Defined contribution plans such as Provident fund & Superannuation fund.

Post-employment benefits

Defined contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to a separate entity. The Company makes specified monthly contributions towards Provident Fund, Superannuation Fund and Pension Scheme. The Company’s contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee renders the related service.

Defined benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service as per the Payment of Gratuity Act, 1972.

Re-measurments of defined benefit plans in respect of post-employment are charge to Other Comprehensive Income.

Empolyee Separation Costs

Compensation to employees who opt for retirement under the voluntary retirement scheme, if any, of the Company is payable in the year of exercise of option by the employee. The Company recognises the employee separation cost when the scheme is announced and the Company is demonstrably committed to it.

1.15. Foreign exchange transactions and translation

The financial statements are presented in Indian rupee (INR), which is Company’s functional and presentation currency.

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains and losses on settlement of foreign currency transactions are recognised in the Statement of Profit and Loss.

Exchange differences arising on settlement or translation of monetary items are recognised in Statement of Profit and Loss except to the extent of exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings that are directly attributable to the acquisition or construction of qualifying assets, are capitalized as cost of assets.

Monetary foreign currency assets and liabilities at the year-end are translated at the year-end exchange rates and the resultant exchange differences are recognised in the Statement of Profit and Loss.

1.16. TAXES ON INCOME

Income tax comprises current and deferred tax. Income tax expense is recognized in the statement of profit and loss except to the

extent it relates to items directly recognized in equity or in other comprehensive income.

• Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

• Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period.

1.17. Government Grants

Government grants are recognised when there is reasonable assurance that the grant will be received and all attached conditions will be complied with.

Government grants related to revenue are recognised on a systematic basis in the statement of profit and loss over the periods necessary to match them with the related costs which they are intended to compensate. Such grants are deducted in reporting the related expense. When the grant relates to an asset, it is recognized as income over the expected useful life of the asset.

In case a non-monetary asset is given free of cost, it is recognised at a fair value. When loans or similar assistance are provided by government or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is recognized as government grant. The loan or assistance is initially recognized and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received.

1.18. Earning Per Share

The basic earning per share (EPS) is computed by dividing the net profit after tax available to equity share holders for the year by the weighted average number of equity shares outstanding during the current year.

The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of potential dilutive equity shares unless impact is anti-dilutive.

The financial instruments are categorized into two levels based on the inputs used to arrive at fair value measurements as described below:

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

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

Liquidity Risk

Liquidity risk is the risk that suitable sources of funding for the company''s business activities may not be available. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain funds at higher rates. The Company monitors rolling forecasts of the Company''s cash flow position and ensure that the Company is able to meet its financial obligation at all times including contingencies.

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing financial loss to the company. It arises from cash and cash equivalents, financial instruments and principally from credit exposures to customers relating to outstanding receivables. The Company deals with highly rated counter parties.

27.13 Dividend

Dividends declared by the Company are based on the profit available for distribution. On May 29, 2024, the Board of Directors of the Company have proposed a final dividend of Rs. 2.75 per share in respect of the year ended March 31, 2024 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash outflow of approximately Rs. 81.48 Lakhs.

27.14: Additional Regulatory Information

1 The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

2. The company has not revalued its Property, Plant and Equipment during the year.

3. The Company does not have any Capital Work-in-Progress as on the date of the Balance Sheet. The Company also does not have any intangible asset under development.

4. The company has not made any loans or advances in the nature of loans to any promoters, directors, KMP, and its related parties.

5. The Company is neither in possession of any benami property, nor any proceeding has been initiated or is pending against the Company for holding any benami property.

6. The company has not been sanctioned limits against hypothecation of its current assets during the year.

7. The Company has not been declared as a wilful defaulter by any bank or financials institution or lender during the year.

8. As per the information available with the Company, it does not have any transactions with companies which are struck off under section 248 or Section 560 of the Companies Act, 2013.

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

10. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017, wherever required.

11. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign

entities (Intermediaries) with the understanding that the Intermediary shall:

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

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

12. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries); or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

13. Having regard to the expert opinion obtained by the management, the provisions of Section 135 "Corporate Social Responsibility" are not applicable on the Company.

14. The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

15. The company does not have any borrowed funds or share premium.

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

17. The Company has not recognised any prior period items in its audited annual accounts. In terms of its policy generally followed over the years, the liability is recognised in the year of its crystalisation.

18. The company has reclassified/regrouped/rearranged the previous year figures in accordance with requirement for the current period.

In terms of our report of even date. For & on behalf of Board of Directors

For SDBA & CO. Rajesh Agrawal

Chartered Accountants Chairman & Managing Director

(FRN : 142004W)

Sanjeev A. Mehta ^{Hitesh Kothari Pooja Ponda}

Chief Financial Officer Company Secretary

M. No : 41287 ^{ACS 66677}

Place : Mumbai Place : Mumbai

Date : 29^th May, 2024 Date : 29^th May, 2024

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Mar 31, 2019

Company overview

1.0 Elegant Marbles And Grani Industries Limited is a company incorported in India and is listed on the Bombay Stock Exchange Ltd. The company is engaged in manufacture & trading of marble, granites & other stones tiles & slabs. The details regarding registered office, corporate office & principal place of business is disclosed in the introductory page of this Annual Report.

The Company bought back 840000 equity shares of Rs. 10 each for an aggregate value of Rs.17.22 crores being 18.67% of the total paid up equity share capital at Rs. 205 per equity share in the previous year ended 31st March, 2018. The equity shares bought back were extinguished on 30.03.2018.

(c) Terms/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. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2.1 CONTINGENT LIABILITY

(i) The company has preferred appeals before the Commissioner of Income Tax (Appeals), Mumbai against the orders passed by Deputy Commissioner of Income Tax for the assessment years 2013-14 & 2014-15 raising a demand of 41,73,670/- & 7,99,670/- respectively.

(ii) The Company has executed Letter of Undertaking indemnifying the President of India against any liability that may arise on account of Goods & Service Tax provisions on goods exported by it.

3.1 POST RETIREMENT BENEFIT PLANS

Defined Benefits Plan

(i) Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of resignation/superannuation. The gratuity is paid @ 15 days salary for every completed year of service as per the Payment of Gratuity Act, 1972.

The Company has got the valuation of its liability on account of gratuity from an authorised actuarial valuer vide his report dt.06.05.2019. The Company has provided for the liability on account of gratuity in its books of accounts on the basis of the report.

3.2 In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realised in the ordinary course of business, unless otherwise stated.

3.3 The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

3.4 The Company has, during the year, capitalised a sum of Rs. 43,30,000/- being deposit given for leasing of premises at Raghuvanshi Mills Compound, Senapati Bapat Marg, Mumbai, on the basis of the Consent Terms agreed before the Small Causes Court dt. 03.12.1997 and agreements dt. 02.02.1999 & 28.04.1999 entered into between Raghuvanshi Mills Limited & the Company. The terms of the agreement expressly provide that the lessor, who has taken the premises on rent from the owners, has given these premises on lease to the Company for a long period and on the occurence of the event of the lessor becoming the owners of the whole of the land & premises, the lessee, i.e., the Company, would get these premises on an ownership basis for the above sum of Rs. 43,30,000/-. The Company has provided for depreciation as per Schedule II to the Companies Act, 2013 on Straight Line Method from the date of agreements/consent terms to the current year.

3.5 Having regard to the rate of taxation, company''s income profile and other factors, the Company has not provided for deferred tax for credit for minimum alternative tax available to it.

The financial instruments are categorized into two levels based on the inputs used to arrive at fair value measurements as described below:

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

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

Liquidity Risk

Liquidity risk is the risk that suitable sources of funding for the company''s business activities may not be available. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain funds at higher rates. The Company monitors rolling forecasts of the Company''s cash flow position and ensure that the Company is able to meet its financial obligation at all times including contingencies.

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing financial loss to the company. It arises from cash and cash equivalents, financial instruments and principally from credit exposures to customers relating to outstanding receivables. The Company deals with highly rated counter parties.

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Mar 31, 2018

NOTES ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS AS AT 31ST MARCH, 2018

24.6 CONTINGENT LIABILITY

(i) The company has preferred appeals before the Commissioner of Income Tax (Appeals), Mumbai against the orders passed by Deputy Commissioner of Income Tax for the assessment years 2013-14 & 2014-15 raising a demand of Rs 41.73 Lakhs & Rs 7.00 Lakhs respectively.

(ii) The company has preferred an appeal before the honourable Income Tax Appeallate Tribunal, Mumbai against the order for the assessment year 2012-2013 passed by Commissioner of Income Tax (Appeals), Mumbai partly confirming the addition made by the Assessing Officer. The company has paid the demand raised after given effect to the order passed by learned Commissioner of Income tax (Appeals), Mumbai.

24.7 BUY BACK OF SHARES

In accordance with Sec 68,69,70 and other applicable provisions of the Companies Act, 2013 and SEBI regulations and pursuant to the public announcement for buy back made by the Company, the Company initiated a buy back by way of tender offer through stock exchange mechanism for cash at price of Rs 205/- per equity share for an aggregate maximum amount of Rs 1,722 lakhs.

Particulars

Date of Board Meeting approving the buy back 28th Nov 2017

Date of Public Announcement 15th Jan 2018

Record Date 25th Jan 2018

Date of buy back 26th Mar 2018

No. of shares bought back 8,40,000

Face value of shares bought back ? 10

Consideration paid towards buy back (in lakhs) 1,722.00

Pursuant to buybackthe Company has adjusted premium on buybackof Rs 195/- per share aggregating Rs 1,638 lakhs, out of Securities Premium Account Rs 285 lakhs and from General Reserve Rs 1,353 lakhs. Further, an amount of Rs 84 lakhs (equivalent to the face value of shares) has been transferred to Capital Redemption Reserve.

24.8 In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realised in the ordinary course of business, unless otherwise stated.

24.9 The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

24.10 The Company has not provided for its gratuity liability for the current year in absence of actuarial valuation. The management has initiated efforts to appoint a certified actuarial valuer to estimate the future estimated liability on account of gratuity that may be payable by the Company.

24.11 RELATED PARTIES DISCLOSURES

a) Related parties where control exists:

i. Madhu Holdings Private Limited

ii. Eternal Holdings Private Limited

ill. Elegant Financial Services LLP

iv. Alka Granites LLP

v. Everlasting Properties LLP

vi. Peaceful Properties LLP

vii. Everfresh Properties LLP

viii. Ware Innovations LLP

viiii. KhelloKhillo Design LLP

b) Key management personnel & their relatives:

i. ShriRajeshAgrawal, Director ii. ShriRakeshAgrawal, Director iii. Ms. YogitaAgrawal, Director

iv. Shri R. S.Agrawal, father of Shri RajeshAgrawal andShri RakeshAgrawal v. Smt. AlkaAgrawal, wife of Shri RajeshAgrawal vi. Smt. DivyaAgrawal, wife of Shri RakeshAgrawal

vii. Smt. GitaAgrawal, motherof Shri RajeshAgrawal and Shri RakeshAgrawal viii. M/s. RakeshAgrawal, HUF ix. M/s. RajeshAgrawal, HUF x. ShriHiteshKothari

xi. Ms.SnehaValeja (Rs in lakhs)

As at 31st As at 31st March 2018 March 2017

c) Transactions during the year with related parties :

i. Rent paid 100.44 71.52

ii. Payment to Key Managerial personnel/Relative 67.40 65.93

iii. Sales Promotion expenses 8.59 7.30

iv. Revenue from operation 2.41

d) Disclosure in Respect of Major Related Party Transactions during the year :

i. Rent Paid

Smt. Alka Agrawal 30.00 18.00

M/s. R. S. Agrawal HUF 30.00 18.00

ShriRajeshAgrawal 20.22 8.88

ShriRakeshAgrawal 20.22 8.88

M/s. Rajesh Agrawal HUF - 8.88

M/s. Rakesh Agrawal HUF - 8.88

ii. Payment to Key Managerial Personnel/Relative

Shri Rajesh Agrawal 30.00 30.00

Shri Rakesh Agrawal 30.00 30.00

Shri Hitesh Kothari 5.35 4.20

Ms.SnehaValeja 2.05

Ms. Reshma Ramchandani - 0.25

Ms. Heena Joshi - 1.48

iii. Sales Promotion Expenses

Khello Khillo Design LLP 0.17

Ware Innovation LLP 8.42 7.30

iv. Revenue from Operation

Ware Innovation LLP 2.41

24.12 Having regard to the rate of taxation, Company''s income profile and other factors, the Company has not provided for deferred tax for credit for minimum alternative tax available to it.

24.13 Fair Valuation Measurement Hierarchy Rs in lakhs

Particulars	As at 31st March, 2018			As at 31st March, 2017			As at 1st April, 2016
	Carrying amount	Level of Input use in		Carrying amount	Level of Input use in		Carrying amount	Level of Input use in
		Level 1	Level 2		Level 1	Level 2		Level 1	Level 2
Financial Assets
At Amortised cost
Investments	1,018.21	-	-	1,830.29	-	-	2,290.16	-	-
Trade Receivable	125.66	-	-	126.57	-	-	133.43	-	-
Cash & Bank Balance	138.70	-	-	108.74	-	-	135.31	-	-
Other Financial Assets	100.61	-	-	-	-	-	-	-	-
At FVTPL
Investments	1,277.08	1,277.08	-	1,840.31	1,840.31	-	556.60	556.60	-
AT FVTOCI
Investments	5,523.19	5,523.19	-	4,784.44	4,784.44	-	3,408.90	3,408.90	-
Financial Liabilities
At Amortised cost
Trade Payable	793.46	-	-	1,022.32	-	-	890.38	-	-
Other Financial Liabilities	24.37	-	-	18.78	-	-	18.93	-	-

The financial instruments are categorized into two levels based on the inputs used to arrive at fair value measurements as described below:

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

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

Liquidity Risk

Liquidity risk is the risk that suitable sources of funding for the company''s business activities may not be available. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain funds at higher rates. The Company monitors rolling forecasts of the Company''s cash flow position and ensure that the Company is able to meet its financial obligation at all times including contingencies.

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing financial loss to the company. It arises from cash and cash equivalents, financial instruments and principally from credit exposures to customers relating to outstanding receivables. The Company deals with highly rated counter parties.

24.14 FIRST TIME IND AS ADOPTION

The Company has adopted Ind AS with effect from 1st April, 2017 with comparatives being restated. Accordingly the impact of transition has been provided in the Opening Reserves as at IstApril, 2016. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

Exemptions from retrospective application

Ind As 101 allows first-time adopters certain exemptions from the retrospective application of certain requirements under Ind AS. The Company has applied the following exemption

a. Property, Plant and Equipment

The Company has elected to measure all of its Property, plant and equipment and Intangible assets at their Historical cost less accumulated depreciation.

b. Estimates

The estimate as at April 1, 2016 and as at March 31, 2017 are consistent with those made for the same dates in accordance with Indian GAAP.

Effect of Ind AS adoption on the standalone balance sheet as at 31st March. 2017 and 1st April. 2016

(Rs in lakhs)

	As at 31st March,		2017	As	i at 1st April, 2016
	Pervious GAAP	Effect of transition to IND AS	As per Ind AS Balance Sheet	Pervious GAAP	Effect of transition to IND AS	As per Ind AS Balance Sheet
ASSETS
1 . Non-current assets
Property, Plant and Equipment Financial Assets	96.01	-	96.01	108.37	-	108.37
i. Investments	6,411.37	2,043.67	8,455.04	5,885.87	709.52	6,595.38
Deferred Tax Assets	93.60	-	93.60	91.85	-	91.85
Other Non-Current Assets	40.81	-	40.81	35.43	-	35.43
	6,641.79	2,043.67	8,685.46	6,121.52	709.52	6,831.03
2. Current assets
a. Inventories	1,083.17	-	1,083.17	994.10	-	994.10
b. Financial Assets
i. Trade Receivable	126.57	-	126.57	133.43	-	133.43
ii. Cash & Cash Equivalents	102.27	-	102.27	129.23	-	129.23
iii. Bank Balance other than (iii) above	6.47	-	6.47	6.08	-	6.08
iv. Others	22.00	91.60	113.61	12.42	11.63	24.06
c. Current Tax Assets (Net)	_	_	_	_	_	_
d. Other Current Assets	168.32	(91.60)	76.72	44.09	(11.63)	32.46
	1,508.80	-	1,508.81	1,319.35	-	1,319.36
	8,150.59	2,043.67	10,194.27	7,440.87	709.52	8,150.39
EQUITY AND LIABILITIES
EQUITY
a. Equity Share Capital	450.00	_	450.00	450.00	_	450.00
b. Other equity	6,500.50	2,043.67	8,544.18	5,877.19	709.52	6,586.71
	6,950.50	2,043.67	8,994.18	6,327.19	709.52	7,036.71
LIABILITIES
1 . Current Liabilities
a. Financial Liabilities
i. Trade Payables	1,022.31	-	1,022.31	890.38	-	890.38
ii. Other Financial liabilities	18.78	-	18.78	18.93	-	18.93
b. Other Current Liabilities	141.35	-	141.35	185.81	-	185.81
c. Provision	-	-	-	-	-	-
d. Current tax liabilities (Net)	17.65	-	17.65	18.56	-	18.56
	1,200.09	-	1,200.09	1,113.68	-	1,113.68
	8,150.59	2,043.67	10,194.27	7,440.87	709.52	8,150.39

Reconciliation of Profit and Other Equity between IndAS and Previous GAAP (Rs in lakhs)

	Notes	Net Profit	Other Equity
		Year ended 31.03.2017	As at 31.03.2017	As at 01.04.2016
Net Profit/ Other Equity as per Previous Indian GAAP	1	623.31	6,500.51	5,877.19
Fair value adjustment of Non-current Assets		115.92	2,043.67	709.52
Total		115.92	2,043.67	709.52
Net Profit befor OCI/ Other Equity as per Ind AS		739.23	8,544.18	6,586.71

Effect of Ind As adoption on the statement of Profit and Loss for the year ended 31st March. 2017

		As at 31st March, 2017
INCOME	Pervious GAAP	Effect of transition to IN DAS	As per Ind AS Balance Sheet
Revenue from operations	2,847.36		2,847.36
Other income	668.16	(31.70)	636.46
Total Revenue	3,515.52	(31.70)	3,483.82

EXPENSES
Cost of raw material consumed	186.33	-	186.33
Purchases of traded goods	2,099.43	-	2,099.43
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(61.67)	-	(61.67)
Employees benefit expenses	154.94	-	154.94
Finance Cost	-	-	-
Depreciation and amortization expense	19.04	-	19.04
Other expenses	316.76	-	316.76
TOTAL EXPENSES	2,714.83	-	2,714.83
Profit/(Loss) before tax	800.69	(31.70)	768.99
Tax Expense
(1) Current tax	(179.13)	3.57	(175.56)
(2) Deferred tax (Net)	1.74	-	1.74
Profit/(Loss) for the year	623.30	(28.13)	595.17

Notes:

I Fair Valuation for Financial Assets:

The Company has Valued financial assets (other than investment in debenture & AIF Fund), at fair value. Impact of fair value changes on the date of transaction, is recognised in opening reserves and changes thereafter are recognised in Statement of Profit and Loss or Other Comprehensive Income, as the case may be.

In terms of our report of even date	For & on behalf of the Board of Directors
For SDBA & CO.	Rajesh Agrawal
Chartered Accountants	Chairman & Managing Director
(FRN : 142004W)
(SANJEEV A. MEHTA)	Hitesh Kothari	Sneha Valeja
Partner	Chief Financial Officer	Company Secretary
M. No: 41287
Mumbai	Mumbai
May 22, 2018	May 22, 2018

---

Mar 31, 2017

(c) Terms/rights attached to equity shares :

The company has only one class of equity shares having a par value of '' 10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. 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 will be entitled to receive 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.

1. Contingent Liability

(i) The Company has given guarantee to the Central Sales-tax authorities to the tune of Rs. 5,000/- only.

(ii) The assessee has preferred an appeal before the Commissioner of Income Tax (Appeals) against an order passed by Deputy Commissioner of Income Tax for the assessment years 2013-2014 & 2014-2015 raising a demand of Rs.41,73,670/- & Rs.7,99,670/respectively.

*The Company is not providing deferred tax on long term capital losses as per Income-tax Act, 1961 from the assessment year 2016-2017 onwards as the management is not certain about setting off these losses against its future taxable long term capital gains.

2. In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realized in the ordinary course of business, unless otherwise stated.

3. The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

4. Figures of the previous year have been regrouped and rearranged to correspond to current year''s classification.

5. Figures have been rounded off to the nearest rupee.

---

Mar 31, 2015

1. Terms/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. The company declares and pays dividends in Indian rupees. 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 will be entitled to receive 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.

2. Contingent Liability

(i) The Company has given guarantee to the Central Sales-tax authorities to the tune of Rs. 5,000/- only.

(ii) Pending disposal of appeal by Bombay High Court, which was preferred by the landlord against levy of Municipal taxes at a higher rate by Brihanmumbai Municipal Corporation (BMC), the company has paid Rs. 15,88,308/- against the demand of Rs. 21,79,918/-

(iii) The assessee has preferred an appeal before the Commissioner of Income Tax (Appeals) against an order passed by Deputy Commissioner of Income Tax for the assessment years 2011-2012 & 2012-2013 raising a demand of Rs. 16,03,540/- & Rs. 43,24,579/- respectively.

3. During the year ended 31st March, 2015, the company paid a final dividend of Rs. 2/- (year ended 31.03.2014 : Rs. 2/-) per equity share. This includes dividend on equity shares held by key managerial persons and their relatives at the beginning of respective financial years. For detail of shares held by key managerial persons and their relatives, refer note 1(b).

4. In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realised in the ordinary course of business, unless otherwise stated.

5. Disclosure as required by Accounting Standard - 18 on "Related Party Disclosures" issued by the Institute of Chartered Accountants of I n d i a are as follows :

a) Related parties where control exists : b)Key management personnel & their relatives :

i. Madhu Holdings Private Limited i. Shri Rajesh Agrawal, Director

ii. Eternal Holdings Private Limited i i. Shri Rakesh Agrawal, Director

iii. Elegant Financial Services Limited iii. Shri R. S. Agrawal, father of the above directors.

iv. Alka Granites Private Limited iv. Mrs. Alka Agrawal, wife of Shri Rajesh Agrawal

v. Everlasting Properties Private Limited v. Smt. Divya Agrawal

vi. Peaceful Properties LLP vi. Smt. Gita Agrawal

vii . Everfresh Properties LLP vii. Rakesh Agrawal (HUF)

viii. Rajesh Agrawal (HUF)

6. The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

7. Interest received from Religare Credit Investment Trust and IDFC Real Estate Yield Fund is included nett of taxes in ''Interest received'' appearing under ''Note 15 - Other Income''.

8. Figures of the previous year have been regrouped and rearranged to correspond to current year''s classification.

---

Mar 31, 2013

1. During the year ended 31st March, 2013, the company paid a final dividend of Rs. 2/- (for the year ended 31.03.2012 : Rs. 2/-) per equity share. This includes dividend on equity shares held by key managerial persons and their relatives at the beginning of respective financial years. For detail of shares held by key managerial persons and their relatives, refer note 1(b).

2. Contingent Liability

(i) The Company has given guarantee to the Central Sales-tax authorities to the tune of Rs. 5,000/- only.

(ii) Pending disposal of appeal by Bombay High Court, which was preferred by the landlord against levy of Municipal taxes at a higher rate by

Brihanmumbai Municipal Corporation (BMC), the company has paid Rs. 8,01,244/-against the demand ofRs. 25,57,745/- (iii)The assessee has preferred an appeal before the Income Tax appellatre tribunal against an order passed by Commissioner of Income Tax

(Appeals) , raising demand ofRs. 5,98,617/- on the company for the Assessment Year 2009-2010.

3. In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realised in the ordinary course of business, unless otherwise stated.

4. Disclosure as required by Accounting Standard - 18 on "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are as follows :

a) Related parties where control exists : i. Madhu Holdings Private Limited ii. Eternal Holdings Private Limited iii. Elegant Financial Services Limited

iv. Alka Granites Private Limited

v. Everlasting Properties Private Limited

vi. Tiles and Styles India Private Limited

vii. Peaceful Properties Private Limited

viii. Everfresh Properties Private Limited

b) Key management personnel & their relatives :

i. Shri Rajesh Agrawal, Chairman & Managing Director

ii. Shri Rakesh Agrawal, Managing Director

iii. Shri R. S. Agrawal, father of the above Directors.

iv. Smt. Alka Agrawal, wife of Shri Rajesh Agrawal

v. Smt. Divya Agrawal

vi. Smt. Gita Agrawal

5. The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

6. Figures of the previous year have been regrouped and rearranged to correspond to current year''s classification.

7. Figures have been rounded off to the nearest rupee.

---

Mar 31, 2012

1. In the opinion of the management and to the best of their knowledge, the current assets, loans & advances are approximately of the value stated, if realized in the ordinary course of business, unless otherwise stated.

2. Contingent Liability

i. The Company has given guarantee to the Central Sales-tax authorities to the tune of Rs. 5,000/- only.

ii. Pending disposal of appeal by Bombay High Court, which was preferred by the landlord against levy of Municipal taxes at a higher rate by Brihanmumbai Municipal Corporation (BMC), the company has paid Rs.8,01,244/-against the demand of Rs.20,03,100/-

iii. The assesses has preferred an appeal before the Commissioner of Income Tax (Appeals) against an order passed by Deputy Commissioner of Income Tax, raising demand of Rs.5,98,617/- on the company for the Assessment Year 2009-2010.

a) Other transactions

During the year ended 31st March, 2012, the company paid a final dividend of Rs. 2/- (year ended 31.03.2011 : Rs. 2/-) per equity share. This includes dividend on equity shares held by key managerial persons and their relatives at the beginning of respective financial years. For detail of shares held by key managerial persons and their relatives, refer note 1(b).

3. The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

4. Disclosure as required by Guidance Note on Accounting for Equity Index & Equity Stock Futures and Options issued by The Chartered Accountants of India are as follows :

Derivative contracts entered into by the company and outstanding as on 31st March, 2012:

a. There is no foreign currency exposure to the company.

b. There were no contracts of futures/options in commodities/Equity pending as on the date of balance sheet.

5. Figures of the previous year have been regrouped and rearranged to correspond to current year's classification.

6. Figures have been rounded off to the nearest rupee.

---

Mar 31, 2010

1. Contingent Liability

(i) The Company has given guarantee to the Central Sales-tax authorities to the tune of Rs. 5000/- only.

(ii) Pending disposal of appeal by Bombay High Court, which was preferred by the landlord against levy of Municipal taxes at a higher rate by Brihanmumbai Municipal Corporation (BMC), the Company paid 5,87,824/- against the demand or Rs. 15,76,274/-

(iii) The assessees appeal before the Income Tax appellate tribunal against the order passed by the Commissioner of Income Tax (Appeals) raising demands of Rs.3,16,135/- & Rs. 54,147/- on the company for the Assessment Years 2006-2007 & 2007-08 respectively.

2. Segment Information

The business segment has been considered as the primary segment. The Company is organised into three main business segments, viz., Marble & Granite, Precious Metals and investment activities. The above business segments have been identified considering:

i. The customers;

ii. The differing risks and returns;

iii. The internal financial reporting system.

3. Disclosure as required by Accounting Standard -18 on "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are as follows:

a) Related parties where control exists:

i. Madhu Holdings Private Limited

ii. Eternal Holdings Private Limited

iii. Elegant Financial Services Limited

iv. Alka Granites Private Limited

v. Tiles & Styles India Private Limited

vi. Everlasting Properties Private Limited

vii. Peaceful Properties Private Limited

viii. Everfresh Properties Private Limited

b) Kev management personnel & their relatives:

i. Shri Rajesh Agarwal, Director

ii. Shri Rakesh Agarwal, Director

iii. Shri R. S. Agarwal, fatherof the above Directors.

iv. Mrs. Alka Agarwal, wife of Shri Rajesh Agarwal

4. The Company is trying to ascertain the enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). Based on the details regarding the status of the suppliers, to the extent obtained, no supplier is covered under the Act.

5. Disclosure as required by Guidance Note on Accounting for Equity Index & Equity Stock Futures and Options issued by The Chartered Accountants of India are as follows:

Derivative contracts entered into by the Company and outstanding as on 31 st March, 2010: a. There is no foreign currency exposure to the Company.

c. I here were no contracts ot futures/options in commodities/bquity pending as on the date ot balance sheet.

6. Figures of the previous year have been regrouped and rearranged to correspond to current years classification.

7. Figures have been rounded off to the nearest rupee.