Notes to Accounts of GRM Overseas Ltd.

Mar 31, 2025

D. Contingencies /Provisions

Provision is recognized when the Company has a present obligation as a result of past event; it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation, in

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

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

E. Leases

The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements,
if the contract conveys the right to control the use of an identified asset. The contract conveys the right
to control the use of an identified asset, if it involves the use of an identified asset and the Company
has substantially all of the economic benefits from use of the asset and has right to direct the use of the
identified asset. The cost of the right-of-use asset shall comprise of the amount of the initial measurement
of the lease liability adjusted for any lease payments made at or before the commencement date plus any
initial direct costs incurred. The right-of-use assets is subsequently measured at cost less any accumulated
depreciation, accumulated impairment losses, if any and adjusted for any re-measurement of the lease
liability. The right-of-use assets is depreciated using the straight-line method from the commencement
date over the shorter of lease term or useful life of right-of-use asset.

F. Cash and cash equivalents

The cash & cash equivalents comprises of Cash in hand, Cash at banks and Short term deposits. The
Company considers all short term highly liquid financial instruments, which are readily convertible into
known amounts of cash that are subject to an insignificant risk of change in value and having original
maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash
equivalents consist of balances with banks which are unrestricted for withdrawal and usages.

G. Borrowing Cost

Borrowings costs directly attributable to the acquisition, construction or production of qualifying assets,
which are assets that necessarily take a substantial period of time to get ready for their intended use or
sale, are added to the cost of those assets, until such time as the assets are substantially ready for the
intended use or sale.

Investment income earned on temporary investment of specific borrowings pending their expenditure on
qualifying assets is recognized in the Standalone statement of profit and loss. Discounts or premiums and
expenses on the issue of debt securities are amortized over the term of the related securities and included
within borrowing costs. Premiums payable on early redemptions of debt securities, in lieu of future finance
costs, are recognized as borrowing costs.

All other borrowing costs are recognized as expenses in the period in which it is incurred.”

H. Impairment of property, plant and equipment and intangible assets

Goodwill and 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. Others 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 the asset’s carrying amount exceeds its recoverable amount. The recoverable amount
is the higher of an asset’s fair value less costs of disposal and value in use. For the purpose of assessing
impairment, assets are grouped at the lowest level 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 an impairment are reviewed for possible
reversal of the impairment at the end of each reporting period.”

I. Employee Benefits Expense

Short Term Employee Benefits obligation

All employee benefits payable wholly within twelve months of rendering the service are classified as 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. These benefits include compensated absences and performance
incentives.

Other long-term Employee Benefit obligations

The liabilities for earned leave which are not expected to be settled wholly within 12 months after the end
of the period in which the employees render the related service are measured on the basis of independent
actuarial valuation certificate as the present value of the expected future payments to be made in respect
of service provided by the employees upto the end of the reporting period.

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 Standalone 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 eligible employees in accordance with the payment of Gratuity act,
1972. The liability recognized in the balance sheet in respect of defined benefit gratuity plan is the present
value of the defined benefit obligation at the end of the reporting period. The defined benefit obligations
are calculated at the end of the reporting period by actuaries using the projected unit credit method.
Re-measurement of defined benefit plans in respect of post-employment are charged to the Other
Comprehensive Income.

J. Distribution of Dividend

Dividends paid, if any, are recognised in the period in which the interim dividends are approved by the
Board of directors, or in respect of the final dividend when approved by shareholders.

K. Note on Govt. Grants & Subsidy

i. The Company may receive government grants that require compliance with certain conditions related to
the Company’s operating activities or are provided to the Company by way of financial assistance on the
basis of certain qualifying criteria.

Government grants are recognised when there is reasonable assurance that the grant will be received
upon the Company complying with the conditions attached to the grant.

Accordingly, government grants:

a) related to or used for assets, are deducted from the carrying amount of the asset.

b) related to incurring specific expenditures are taken to the Standalone Statement of Profit and Loss on
the same basis and in the same periods as the expenditure incurred.

c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become
receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change
in estimate and the amount cumulatively recognised is expensed in the Standalone Statement of Profit and
Loss.

L. Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Standalone
statement of Profit and Loss, except to the extent that it relates to items recognised in the comprehensive
income or in equity. In which case, the tax is also recognised in other comprehensive income or equity.

- 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 Standalone financial statements and the corresponding tax bases used in the
computation of taxable profit. Deferred Tax Assets are recognized to the extend it is probable that the
taxable profit will be available against which the deductible temporary differences, and carry forward of
unused tax losses can be utilized. 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.

M. Foreign Exchange Transaction and translation

Items included in the Standalone financial statements are measured using the currency of the primary
economic environment in which the entity operates (‘the functional currency’). The Standalone financial
statements are presented in Indian Rupee (INR), which is Company’s functional and presentation currency.
Foreign currency transactions are translated into the functional currency using the exchange rate prevailing
on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated
at the functional currency closing rates of exchange at the reporting date. Exchange differences arising
on settlement or translation of monetary items are recognised in Standalone 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. Non-monetary items that are measured in terms of historical cost
in a foreign currency are recorded using the exchange rates at the date of the transaction. Non-monetary
items measured at fair value in a foreign currency are translated using the exchange rates at the date
when the fair value was measured. The gain or loss arising on translation of non-monetary items measured
at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item.

N. Revenue recognition

i) Revenue is recognised when control of the products being sold has transferred to the customer and
when there are no longer any unfulfilled obligations to the customer. This is generally on delivery to the
customer but depending on individual customer terms, this can be at the time of dispatch, delivery or
upon formal customer acceptance, goods under physical possession of customer. This is considered the
appropriate point where the performance obligations in our contracts are satisfied as Company no longer
have control over the inventory. Revenue is measured based on transaction price, which is the fair value of
the consideration received or receivable, stated net of discounts, returns and Indirect Taxes. No element
of financing is present in the pricing arrangement. Settlement terms range from cash-on-delivery to credit
terms ranging upto 180 days.

(ii) Dividend Income is recorded when the right to receive payment is established.

(iii) Interest income is recognised using the effective interest method .

O. Financial Instruments
Financial Assets

- Initial Recognition & Measurement - At initial recognition, the Company measures financial assets at
its fair value plus, in the case of a financial assets not at fair value through profit or loss, transaction cost
that are directly attributable to the acquisition of the financial asset. Transaction cost of financial assets
carried at fair value through profit or loss are expensed off in the Standalone statement of profit or loss.
Assets that are held for collection of contractual cash flows where those cash flows represent solely
payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment
that is subsequently measured at amortized cost and is not part of a hedging relationship is recognised in
profit or loss when the assets is derecognized or impaired. Interest income from these financial assets is
included in finance income using the effective interest rate method.

- Investment - The Company account for its investments in subsidiaries, associates and joint venture
at cost and all other equity investments are measured at fair value, with value changes recognised in
Standalone Statement of Profit and Loss, except for those equity investments for which the Company has
elected to present the value changes in Other Comprehensive Income.

- Impairment of financial assets - The Company assesses on a forward looking basis the expected credit
losses associated with its assets carried at amortized cost. The impairment methodology applied depends
on whether there has been a significant increase in credit risk. For trade receivables Company applies
simplified approach which requires expected lifetime losses to be recognised from initial recognition of the
receivables.

Financial liabilities

- Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees
of recurring nature are directly recognised in the Standalone Statement of Profit and Loss as finance cost.

- Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other
payables maturing within one year from the balance sheet date, the carrying amounts approximate fair
value due to the short maturity of these instruments.

Derecognition of financial instruments -The Company derecognizes a financial asset when the contractual
rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer
qualifies for derecognition under IndAS 109. A financial liability (or a part of a financial liability) is derecognized
from the Company’s Balance Sheet when the obligation specified in the contract is discharged or cancelled
or expires.

P. Earning per Share

Basic Earning 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 The Company did not
have any potentially dilutive securities in any of the years presented.

Q. Costs and expenses are recognised when incurred and have been classified according to their nature.

Nature and purpose of reserves:

Investment Allowance Reserve - This reserve created as per Income Tax Act, 1961.

Securities Premium Reserve - Securities Premium Reserve represents premium received on issue of shares
at a premium. The reserves can be utilised in accordance with section 52 of Companies Act, 2013.

Forfeiture Share Capital Reserve - This represents amount forfeited from a member who fails to pay any call,
or installment of call.

Forfeiture Share Premium Reserve - This represents premium amount forfeited from a member who fails to
pay any call, or installment of call.

Revaluation Reserve - Revaluation reserve represents increase in fair value of an item of property, plant and
equipment less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

General Reserve - The general reserve is a free reserve which is used from time to time to transfer profits from
retained earnings for appropriation purposes. As the general reserve is created by a transfer from one compo¬
nent of equity to another and is not an item of other comprehensive income, item included in the general reserve
will not be reclassified subsequently to statement of profit and loss. Mandatory transfer to general reserve is not
required under the Companies Act, 2013.

*Working capital limit from banks includes pledge limit against Warehouse Receipts. These limits are
secured by hypothecation of stocks of raw materials, stock in process, finished goods, stores, consumable
stores and book debts etc; such credits from banks are also secured by charge on all the present
and future asset of the Company and further guaranteed by Promoter Directors. The Export Credit
facilities are repayable on demand and carries net interest @ 2.50 to 5% per annum (after subvention).

Warehouse financing is a way for businesses to borrow money secured by their inventories. Inventories used
as collateral is moved and stored at a designated facility. The warehoused goods are inspected and certified by
a collateral manager to ensure the borrower owns the inventory used to back the loan. Warehouse limit facilitiy
carry interest @ 6- 9% per annum.”

^A Indian rupee loans from corporates and related parties carries interest @ 7% per annum (P.Y. 8% per annum)
and Interest is payable on quarterly basis. Also refer note 39 for related parties details.

Financial risk management

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

A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails
to meet its contractual obligations, and arises principally from the Company’s receivables from customers and
investments in debt securities. The carrying amount of financial assets represents the maximum credit exposure.

- trade receivables

- other current financial Assets

a) Credit risk management

The Company assesses and manages credit risk based on internal credit rating system, continuously
monitoring defaults of customers and other counterparties, identified either individually or by the company,
and incorporates this information into its credit risk controls. Internal credit rating is performed for each class
of financial instruments with different characteristics. The Company assigns the following credit ratings to each
class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets.

Cash and cash equivalents and other bank balances

Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated
banks and diversifying bank deposits and accounts in different banks.

Trade receivables

The Company closely monitors the credit-worthiness of the debtors through internal systems that are configured
to define credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company
assesses increase in credit risk on an ongoing basis for amounts receivable that become past due and default
is considered to have occurred when amounts receivable become past due one year.

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans and advances to employees, security deposits
and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of
such amounts continuously, while at the same time internal control system in place ensure the amounts are
within defined limits.

B) Liquidity risk

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. Due to the nature of the business, the Company maintains flexibility in funding by maintaining
availability under committed facilities. Management monitors rolling forecasts of the Company’s liquidity
position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account
the liquidity of the market in which the company operates.

Maturities of financial liabilities

The tables below analyze the Company’s financial liabilities into relevant maturity of the Company based on
their contractual maturities for all non-derivative financial liabilities.

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months
equal their carrying balances as the impact of discounting is not significant.

C) Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity
prices - will affect the Company’s income or the value of its holdings of financial instruments. The objective of
market risk management is to manage and control market risk exposures within acceptable parameters, while
optimizing the return.

a) Foreign currency risk

The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with
respect to the US Dollar. Foreign exchange risk arises from recognised assets and liabilities denominated in a
currency that is not the functional currency of the Company.

(i) Exposure to currency risk

The Company’s exposure to foreign currency risk at the end of the reporting period expressed in INR are as
follows.

(ii) Foreign currency sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in exchange rates of USD,
with all other variables held constant. The impact on the Company’s profit before tax is due to changes in the
fair value of monetary assets and liabilities including non-designated foreign currency derivatives. Although the
derivatives have not been designated in a hedge relationship, they act as an economic hedge and will offset the
underlying transactions when they occur. Accordingly, no sensitivity analysis in respect of such loans is given.
The Company’s exposure to foreign currency changes for all other currencies is not material.

35. Other Statutory Information

i. The Company do not have any Benami property, where any proceeding has been initiated or pending
against the Company for holding any Benami property.

ii. The Company do not have any transactions with struck off companies under Section 248 of the Companies
Act, 2013 or Section 560 of Companies Act, 1956.

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

iv. The Company has not advanced or loaned or invested funds to any other person or entity, 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.

vi. The Company has not received any fund from any person or entity, 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.

(vi) The Company has not 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 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

(vii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender
(as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on
wilful defaulters issued by the Reserve Bank of India.

36. Capital management

The Company’s capital management objectives are:

- to ensure the Company’s ability to continue as a going concern.

- to provide an adequate return to shareholders.”

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as
presented on the face of balance sheet. Management assesses the Company’s capital requirements in order
to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account
the subordination levels of the Company’s various classes of debt. The Company manages the capital
structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics
of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount
of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt.

41. The previous year figures have been regrouped/ reclassified, wherever necessary to conform to the current
year presentation.

42. The Company is predominantly engaged in the single business segment of food sector.

43. Approval of financial Statements

The financial statements were approved by the board of directors on 28th May, 2025.

For Mehra Goel & Co. FOR AND ON BEHALF OF

Chartered Accountants THE BOARD OF DIRECTORS

Firm Registration No. 000517N

Sd/- Sd/- Sd/-

Devinder Kumar Aggarwal Mamta Garg Atul Garg

Partner Director Managing Director

Membership No. 087716 DIN :05110727 DIN : 02380612

Place: New Delhi
Date : 28-05-2025

Sd/- Sd/-

Vedant Garg Sachin Narang

Chief Financial Officer Company Secretary

CGXPG3398E A65535

---

Mar 31, 2024

D. Contingencies /Provisions

Provision is recognized when the Company has a present obligation as a result of past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in

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

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

E. Leases

The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements, if the contract conveys the right to control the use of an identified asset. The contract conveys the right to control the use of an identified asset, if it involves the use of an identified asset and the Company has substantially all of the economic benefits from use of the asset and has right to direct the use of the identified asset. The cost of the right-of-use asset shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less any accumulated depreciation, accumulated impairment losses, if any and adjusted for any re-measurement of the lease liability. The right-of-use assets is depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of right-of-use asset.

F Cash and cash equivalents

The cash & cash equivalents comprises of Cash in hand, Cash at banks and Short term deposits. The Company considers all short term highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usages.

G. Borrowing Cost

Borrowings costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for the intended use or sale.

Investment income earned on temporary investment of specific borrowings pending their expenditure on qualifying assets is recognized in the Standalone statement of profit and loss. Discounts or premiums and expenses on the issue of debt securities are amortized over the term of the related securities and included within borrowing costs. Premiums payable on early redemptions of debt securities, in lieu of future finance costs, are recognized as borrowing costs

All other borrowing costs are recognized as expenses in the period in which it is incurred.

H. Impairment of property, plant and equipment and intangible assets

Goodwill and 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. Others 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 the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purpose of assessing impairment, assets are grouped at the lowest level 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 an impairment are reviewed for possible reversal of the impairment at the end of each reporting period.

I. Employee Benefits Expense

Short Term Employee Benefits obligation

All employee benefits payable wholly within twelve months of rendering the service are classified as shortterm 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. These benefits include compensated absences and performance incentives.

Other long-term Employee Benefit obligations

The liabilities for earned leave which are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are measured on the basis of independent actuarial valuation certificate as the present value of the expected future payments to be made in respect of service provided by the employees upto the end of the reporting period.

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 Standalone 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 eligible employees in accordance with the payment of Gratuity act, 1972. The liability recognized in the balance sheet in respect of defined benefit gratuity plan is the present value of the defined benefit obligation at the end of the reporting period. The defined benefit obligations are calculated at the end of the reporting period by actuaries using the projected unit credit method. Re-measurement of defined benefit plans in respect of post-employment are charged to the Other Comprehensive Income.

J. Distribution of Dividend

Dividends paid, if any, are recognised in the period in which the interim dividends are approved by the Board of directors, or in respect of the final dividend when approved by shareholders.

K. Note on Govt. Grants & Subsidy

i. The Company may receive government grants that require compliance with certain conditions related to the Company’s operating activities or are provided to the Company by way of financial assistance on the basis of certain qualifying criteria.

Government grants are recognised when there is reasonable assurance that the grant will be received upon the Company complying with the conditions attached to the grant.

Accordingly, government grants:

a) related to or used for assets, are deducted from the carrying amount of the asset.

b) related to incurring specific expenditures are taken to the Standalone Statement of Profit and Loss on the same basis and in the same periods as the expenditure incurred.

c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change in estimate and the amount cumulatively recognised is expensed in the Standalone Statement of Profit and Loss.

L. Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Standalone statement of Profit and Loss, except to the extent that it relates to items recognised in the comprehensive income or in equity. In which case, the tax is also recognised in other comprehensive income or equity.

- 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 Standalone financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred Tax Assets are recognized to the extend it is probable that the taxable profit will be available against which the deductible temporary differences, and carry forward of unused tax losses can be utilized. 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.

M. Foreign Exchange Transaction and translation

Items included in the Standalone financial statements are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The Standalone financial statements are presented in Indian Rupee (INR), which is Company’s functional and presentation currency. Foreign currency transactions are translated into the functional currency using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency closing rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognised in Standalone 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. Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using the exchange rates at the date of the transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item.

N. Revenue recognition

(i) Revenue is recognised when control of the products being sold has transferred to the customer and when there are no longer any unfulfilled obligations to the customer. This is generally on delivery to the customer but depending on individual customer terms, this can be at the time of dispatch, delivery or upon formal customer acceptance, goods under physical possession of customer. This is considered the appropriate point where the performance obligations in our contracts are satisfied as Company no longer have control over the inventory. Revenue is measured based on transaction price, which is the fair value of the consideration received or receivable, stated net of discounts, returns and Indirect Taxes. No element of financing is present in the pricing arrangement. Settlement terms range from cash-on-delivery to credit terms ranging upto 180 days.

(ii) Dividend Income is recorded when the right to receive payment is established.

(iii) Interest income is recognised using the effective interest method .

O. Financial Instruments Financial Assets

- Initial Recognition & Measurement - At initial recognition, the Company measures financial assets at its fair value plus, in the case of a financial assets not at fair value through profit or loss, transaction cost that are directly attributable to the acquisition of the financial asset. Transaction cost of financial assets carried at fair value through profit or loss are expensed off in the Standalone statement of profit or loss. Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment that is subsequently measured at amortized cost and is not part of a hedging relationship is recognised in profit or loss when the assets is derecognized or impaired. Interest income from these financial assets is included in finance income using the effective interest rate method.

- Investment - The Company account for its investments in subsidiaries, associates and joint venture at cost and all other equity investments are measured at fair value, with value changes recognised in Standalone Statement of Profit and Loss, except for those equity investments for which the Company has elected to present the value changes in Other Comprehensive Income.

- Impairment of financial assets - The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortized cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables Company applies simplified approach which requires expected lifetime losses to be recognised from initial recognition of the receivables.

Financial liabilities

- Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of recurring nature are directly recognised in the Standalone Statement of Profit and Loss as finance cost.

- Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

Derecognition of financial instruments -The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IndAS 109. A financial liability (or a part of a financial liability) is derecognized from the Company’s Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.

P. Earning per Share

Basic Earning 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 The Company did not have any potentially dilutive securities in any of the years presented.

Q. Costs and expenses are recognised when incurred and have been classified according to their nature.

Financial risk management

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

A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers and investments in debt securities. The carrying amount of financial assets represents the maximum credit exposure.

- trade receivables

- other current financial Assets

a) Credit risk management

The Company assesses and manages credit risk based on internal credit rating system, continuously monitoring defaults of customers and other counterparties, identified either individually or by the company, and incorporates this information into its credit risk controls. Internal credit rating is performed for each class of financial instruments with different characteristics. The Company assigns the following credit ratings to each class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets.

Cash and cash equivalents and other bank balances

Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated banks and diversifying bank deposits and accounts in different banks.

Trade receivables

The Company closely monitors the credit-worthiness of the debtors through internal systems that are configured to define credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company assesses increase in credit risk on an ongoing basis for amounts receivable that become past due and default is considered to have occurred when amounts receivable become past due one year.

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans and advances to employees, security deposits and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in place ensure the amounts are within defined limits.

B) Liquidity risk

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. Due to the nature of the business, the Company maintains flexibility in funding by maintaining availability under committed facilities. Management monitors rolling forecasts of the Company’s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the company operates.

Maturities of financial liabilities

The tables below analyze the Company’s financial liabilities into relevant maturity of the Company based on their contractual maturities for all non-derivative financial liabilities.

C) Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

b) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company does not have any non current obligations with floating rate of interest. The Company has floating rate of interest in respect of current borrowings.

36. Other Statutory Information

(i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The Company do not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956.

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

(iv) The Company has not advanced or loaned or invested funds to any other person or entity, 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.

(vi) The Company has not received any fund from any person or entity, 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.

(vi) The Company has not 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 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

(vii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

37. Capital management

The Company’s capital management objectives are:

- to ensure the Company’s ability to continue as a going concern.

- to provide an adequate return to shareholders.”

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as presented on the face of balance sheet. Management assesses the Company’s capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the Company’s various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt.

42. The previous year figures have been regrouped/ reclassified, wherever necessary to conform to the current year presentation.

43. The Company is predominantly engaged in the single business segment of food sector.

44. Approval of financial Statements

The financial statements were approved by the board of directors on 29th May, 2024.

For Mehra Goel & Co. FOR AND ON BEHALF OF

Chartered Accountants THE BOARD OF DIRECTORS

Firm Registration No. 000517N

Sd/- Sd/- Sd/-

Devinder Kumar Aggarwal Mamta Garg Atul Garg

Partner Director Managing Director

Membership No. 087716 DIN :05110727 DIN : 02380612

Place: New Delhi Date : 29th May, 2024

Sd/- Sd/-

Vedant Garg Sachin Naran

Chief Financial Officer Company Secretary

CGXPG3398E A65535

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Mar 31, 2023

Note - During the previous financial year 2021-22, the company has issued bonus shares in the ratio of 2:1 and also sub-divided equity share of face value of Rs. 10/- per share into five equity shares of face value of Rs. 2/- per share. Consequently, the basic and diluted earnings per share have been computed for all the periods presented in the Standalone Ind AS Financial Statements of the Company on the basis of the new number of equity shares in accordance with Ind AS 33 - Earnings per Share.

Financial risk management

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

A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers and investments in debt securities. The carrying amount of financial assets represents the maximum credit exposure.

- trade receivables.

- other current financial Assets

a) Credit risk management

The Company assesses and manages credit risk based on internal credit rating system, continuously monitoring defaults of customers and other counterparties, identified either individually or by the company, and incorporates this information into its credit risk controls. Internal credit rating is performed for each class of financial instruments with different characteristics. The Company assigns the following credit ratings to each class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets. A: Low B: Medium C: High

Cash and cash equivalents and other bank balances

Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated banks and diversifying bank deposits and accounts in different banks.

Trade receivables

The Company closely monitors the credit-worthiness of the debtors through internal systems that are configured to define credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company assesses increase in credit risk on an ongoing basis for amounts receivable that become past due and default is considered to have occurred when amounts receivable become past due one year.

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans and advances to employees, security deposits and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in place ensure the amounts are within defined limits.

B) Liquidity risk

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. Due to the nature of the business, the Company maintains flexibility in funding by maintaining availability under committed facilities. Management monitors rolling forecasts of the Company’s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the company operates.

Maturities of financial liabilities

The tables below analyze the Company’s financial liabilities into relevant maturity of the Company based on their contractual maturities for all non-derivative financial liabilities.

C) Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

a) Foreign currency risk

The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to the US Dollar. Foreign exchange risk arises from recognised assets and liabilities denominated in a currency that is not the functional currency of the Company.

(ii) Foreign currency sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in exchange rates of USD, with all other variables held constant. The impact on the Company’s profit before tax is due to changes in the fair value of monetary assets and liabilities including non-designated foreign currency derivatives. Although the derivatives have not been designated in a hedge relationship, they act as an economic hedge and will offset the underlying transactions when they occur. Accordingly, no sensitivity analysis in respect of such loans is given. The Company’s exposure to foreign currency changes for all other currencies is not material.

A positive number represents decrease in profits while a negative number represents increase in profits. b) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company does not have any non current obligations with floating rate of interest. The Company has floating rate of interest in respect of current borrowings.

37. Other Statutory Information

1. The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

2. The Company do not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956.

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

4. The Company has not advanced or loaned or invested funds to any other person or entity, including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

5. 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

6. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

7. The Company has not received any fund from any person or entity, including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall :

8. (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

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

10. The Company has not 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 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

11. The Company has not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

38. Capital management

The Company’s capital management objectives are:

- to ensure the Company’s ability to continue as a going concern.

- to provide an adequate return to shareholders.

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as presented on the face of balance sheet. Management assesses the Company’s capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the Company’s various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt. The Company’s adjusted net debt to equity ratio as at year end were as follows:

40. Note for Contingent assets / Liabilities (Amount in lakhs unless otherwise stated)
Contingent Liabilities & Commitments	As at 31st March, 2023	As at 31st March, 2022
Contingent Liabilities :
Claim against the company not acknowledged as debt guarantees	-	-
Corporate Guarantee for Subsidiary Loan	750.00	750.00
Other money for which the company is contingently liable	-	-
Commitments
Estimated amount of contracts remaining to be executed on capital account and not provided for	-	-
Uncalled liability on shares and other investments party paid	-	-
Other commitments (specify nature)	-	-
Total	750.00	750.00

43. The previous year figures have been regrouped/ reclassified, wherever necessary to conform to the current year presentation.

44. The Company is predominantly engaged in the single business segment of food sector.

45. Approval of financial Statements

The financial statements were approved by the board of directors on 24th May, 2023.

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Mar 31, 2018

1. No information has been received by the Company from the creditors whether they are covered under Micro, Small and Medium Enterprises Development Act, 2006.

2. Corporate Social Responsibility (CSR)

a) CSR amount required to be spent as per Section 135 of the Companies Act, 2013 read with Schedule VII thereof by the Company during the year is Rs,14.10 lakh (Previous Year Rs,12 lakh).

b) Expenditure related to Corporate Social Responsibility is Rs,13 lakh (Previous Year Rs,12 lakh).

3. Capital Management

The Company manages its capital to ensure that it will continue as going concern while maximizing the return to stakeholders. The Company manages its capital structure and make adjustment in light of changes in business condition. The overall strategy remains unchanged as compare to last year.

4. The Company is mainly engaged in ‘Rice Sheller’ activity. All the activities of the Company revolve around this main business. Accordingly, the Company has only one identifiable segment reportable under Ind AS 108 “Operating Segment”. The Executive Director (the ‘Chief Operational Decision Maker as defined in Ind AS

108 - Operating Segments) monitors the operating results of the entity’s business for the purpose of making decisions about resource allocation and performance assessment.

5. The Board of Directors have recommended payment of dividend of ''''5/- per fully paid up equity share of ''10/each, aggregating ''216.71 lakh including ''32.23 lakh dividend distribution tax for the financial year 2017-18. Dividend has been provided subject to members approval at the ensuing 24th Annual General Meeting.

6. The financial statements were approved for issue by the Board of Directors at its meeting held on 26th May, 2018

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Mar 31, 2015

1. General Information

GRM Overseas Limited (the 'Company') is a public limited company domiciled in India, incorporated under the provisions of the Companies Act, 1956 and is listed on one stock exchange in India. The Company is engaged in the business of manufacturing and trading of Rice.

2. No information has been received by the Company from the creditors whether they are covered under Micro, Small and Medium Enterprises Development Act, 2006.

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Mar 31, 2014

1. General Information

GRM Overseas Limited (the ''Company'') is a public limited company domiciled in India, incorporated under the provisions of the Companies Act, 1956 and is listed on one stock exchange in India. The Company is engaged in the business of manufacturing and trading of Rice.

2.0 Cash and Cash Equivalent

In the Cash Flow Statement, cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid investments, if any, with original maturities of three months or less.

2.1 Earning Per Share

Basic earning per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

3. Share Capital

(a) Rights, preference and restrictions attached to shares issued: The Company has only one class of equity shares having a par value of Rs. 10 per share. Each shareholder is eligible for one vote per share held. The dividend if proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding."

(b) Detail of shares held by shareholders holding more than 5% of the aggregate shares in the Company."

4. No information has been received by the Company from the creditors whether they are covered under Micro, Small and Medium Enterprises Development Act, 2006.

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Mar 31, 2013

1. General Information

GRM Overseas Limited (the ''Company'') is a public limited company domiciled in India, incorporated under the provisions of the Companies Act, 1956 and is listed on one stock exchange in India. The Company is engaged in the business of manufacturing and trading of Rice.

NOTE 2

No information has been received by the Company from the creditors whether they are covered under Micro, Small and Medium Enterprises Development Act, 2006.

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Mar 31, 2012

1. General Information

GRM Overseas Limited (the 'Company') is a public limited company domiciled in India, incorporated under the provisions of the Companies Act, 1956 and is listed on one stock exchange in India. The Company is engaged in the business of manufacturing and trading of Rice.

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Mar 31, 2010

1. Cash credit facilities availed from S.B.I., G.T. Road, Panipat are secured by the hypothecation of inventories and personal guarantee of directors.

2. The outstanding balance of debtors, creditors etc. are subject to confirmation & reconciliation.

3. The Company generally follows mercantile system of accounting and recognizes income and expenditure on accrual basis except taxes, interest & penalties by sales tax authorities, which are taken on payment basis.

4. Previous year figures have been regrouped/rearranged wherever necessary.

5. Additional Information

a. Class of goods manufactured Rice.

b. Capacity/Licensed

c. Installed

6. Expenditure on employees

Employees in receipt of remuneration in aggregate not less than Rs. 12,00,000/- per annum if employed throughout the year or Rs. 1,00,000/- per month if employed for the part of the year. No. of employees : NONE Amount : Nil