Notes to Accounts of Iykot Hitech Toolroom Ltd.

Mar 31, 2024

ix. Provisions

A provision is recorded when the Company has a present legal or constructive obligation as a
resuit of past events, an outflow of resources wouid probably be required to settle the
obligation and the amount can be reasonably estimated. The estimated iiabiiity for product
warranties is recorded when products are soid on technical evaluation.

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

x. Borrowings

Borrowings are initially recognized at fair vaiue, net of transaction cost incurred. Borrowings are
subsequently measured at amortized cost. Any difference between proceeds (net of transaction
cost) and the redemption amount is recognized in profit or ioss throughout the borrowings
using the effective interest method. Fees paid on the established ioan facilities are recognized
as the transaction cost of the loan, to the extent that some or all of the facilities wili probably be
drawn down.

Borrowings are discharged from the baiance sheet when the obligation specified in the contract
is discharged, cancelled, or expired. The difference between the carrying amount of a financial
liability that has been extinguished or transferred to another party and the consideration paid,
including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss as
other gain/ (loss).

Borrowings are classified as current liabilities unless the Company has an unconditional right to
defer settlement of the iiabiiity for at least 12 months after the reporting period.

xi. Current and non-current classification

The Company presents assets and liabilities in the baiance sheet based on current/non-current
classification.

Cash and Cash equivalent are treated as current unless restricted from being exchanged or used
to settle a liability for at least tweive months, in respect of other assets, it is treated as current
when it is expected to be realized or intended to be sold or consumed in the normal operating
cycle. It is heid primarily for trading, expected to be realized within tweive months after the
reporting date. Ail other assets are classified as non-current.

A liability is treated as current when expected to be settled in the normal operating cycle, it is
held primarily for trading, it is due to be settled within twelve months after the reporting
period. There is no unconditional right to defer the settlement of the liability for at least twelve
months after the reporting period. All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their

realization in cash and cash equivalents. The Company has identified twelve months as its
operating cycle.

xii. Earnings per Share (EPS)

Basic earnings per share is computed by dividing the profit after tax by the weighted average
number of equity shares outstanding during the year. Diluted earnings per share is computed by
dividing the profit after tax as adjusted for dividend, interest, and other charges to expense or
income relating to the dilutive potential equity shares, by the weighted average number of
equity shares considered for deriving basic earnings per share and the weighted average

number of equity shares which could have been issued on the conversion of all dilutive potential
equity shares.

As per our report attached hereto For and on behalf of the Board

For VIVEKANANDAN ASSOCIATES IYKOT HITECH TOOLROOM LTD

Chartered Accountants
Firm Reg. No 005268S

For IYKOT H TECH TOOLROOM LTD.

R Lakshminarayanan Ms. LIKHITTA DUGAR VELLI PARAMASIVAM

^artner Executive Director Director

Membership No 204045 DIN: 09768742 DIN- 09766538

UDIN:

Date: May 30 2024 Palagani Udaya Kumar

P ace. Chennai Company Secretary

• The Company accounts for Employees'' Gratuity as and when the claimarises and makes the

the p! Mr''''^{the tOWardS gr3tUity UP t0 March 31}'' ^{2024 as} P^{er the} Provisions of

basis and !etto^fb ^atmtyH^AH^CV^{S Rs}''³⁹''²⁵''^320/‘ (devious Year: Rs. 39,25,320/) - on an accrual
oasis and yet to be provided for in the accounts.

⁵ 2006^{LOSURE UNDER} ™^{E M,CRO}'' ^{SMAU AND MED,UM} ENTERPRISES DEVELOPMENT ACT,

Based on the information and records available with the Company, the Company had not paid
any in erest during the year to any parties who are classified as Micro, Small and Medium

°^{f d6faUlt} ^ ^Payment °^{f th6ir dueS}‘ ^Als°''^{no amounts are} outstanding as
on 31.03.2024over Rs. 1,00,000/- to any party classified as Micro, Small and Medium
enterprises.

i. The Company do not own any Immovable properties in its name and consequently holding
title deeds relating to the same are not applicable to it.

ii. The Company does not have any investment in property.

iii. As per the Company''s accounting policy, Property, Plant and Equipment (including Right of
Use Assets) and intangible assets are carried at historical cost (less accumulated
depreciation & impairment, if any), hence the revaluation related disclosures required as
per Additional Regulatory information of Schedule ill (revised) to the Companies Act, is not
applicable.

iv. The Company has not granted any Loans or Advances in the nature of loan to promoters,
Directors, KMPs and the related parties (As per Companies Act, 2013), which are repayable
on demand or without specifying any terms or period of repayments.

v. No proceedings have been initiated or pending against the Company for holding any
Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
the rules made thereunder.

vi. The Company does not have any sanctioned facilities from banks based onthe security of
current assets.

vii. The Company has adhered to debt repayment and interest service obligations on time.
Wilful defaulter-related disclosures required as per Additional Regulatory Information of
Schedule III (revised) to the Companies Act, is not applicable.

viii. There are no transactions with the Companies whose names are struck off under Section
248 of The Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year
ended March 31, 2024.

ix. The Company does not have any requirement for filing registration or satisfaction of
charges with the Registrar of Companies. No registration or satisfaction is pending at the
year ended 31st March 2024.

x. The Company does not have any investment in another company and hence reporting on
compliance with the number of layers prescribed under clause (87) of Section 2 of the
Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017 is
not applicable.

xi. No scheme of arrangement has been approved by the competent authority in terms of
Section 230 to 237 of the Companies Act, 2013.

xii. 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 beneficiary

xlil* ^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

xiv. The Company has not operated in any cryptocurrency or Virtual Currency transactions

xv. During the year the Company has not disclosed or surrendered, any income other than the
income recognized in the books of accounts in the tax assessments under income Tax Act
1961.

8. Previous year s figures have been regrouped wherever necessary to confirm this year''s
classification.

Note T to ''23'' and Notes forming part of accounts form an integral part of the Financial Statements.

As per our report attached hereto For and on behalf of the Board

For VIVEKANANDAN ASSOCIATES IYKOT HiTECH TOOLROOM LTD

Chartered Accountants
Firm Reg. No 005268S

For IYKOT HITECH TOOLROOM LTD.

R. LAKSHMINARAYANAN Ms. Likhitta Dugar Velli Paramasivam

Partner Executive Director Director

Membership No 21628 DIN No 09768742 Din No 09766538

UDIN:

Date: May 30, 2024
Place: Chennai

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Mar 31, 2014

1. AS - 17- Segment Reporting

During the year the company is engaged in the business of integrated commercial toolrom and related activities only. Hence there are no serparate reportable segments as per AS 17 is applicable.

2. Taxes on Income (AS-22)

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax is recognized on timing difference, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Deferred Tax Assets in respect of unabsorbed depreciation and carry forward of losses are recognized if there is virtual certainty that there will be sufficient future taxable income available to realiaze such losses. Other Deferred Tax Assets are recognized if there is reasonable certainty that there will be sufficient future taxable income to realize such assets.

IV Based on the records and available information with the company the following are the dues to Small Scale Industrial Undertakings exceeding Rs.1 Lakhs and are outstanding for more than 30 days as on 31.03.2014 -- NIL

VI Previous years figures have been regrouped wherever necessary to confirm this years classifiation.

VII. Note ''1'' to '' 20 '' and Notes forming part of accounts form an integral part of the financial Statements.

3. (i) The company has only one class of shares referred to as equity shares having a par value of''Rs.5/- Each holder of equity shares is entitled to one vote per share

(ii) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders

4. Security:

(a) Term Loan is repayable to Banks secured by hypothecation of machinery. Further the loan has been guaranteed by the two directors of the Company.

(b) Cash Credits from Banks is secured by hypothecation of fixed assets, stocks/ Work in Progress and other current assets both present and future on parri passu basis and also guaranteed by two directors.

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Mar 31, 2012

(i) The company has only one class of shares referred to as equity shares having a par value of'Rs.5/-.Each holder of equity shares is entitled to one vote per share

(ii) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

Security:

(a) Loans Term is repayable to Banks secured by hypothecation of machinery. Further the loan has been guaranteed by the two Directors of the Company.

(b) Cash Credits from Banks is secured by hypothecation of Fixed Assets, Stocks/ Work in Progress and other current assets both present and future on parri passu basis and also guaranteed by two Directors.

AS -1- Segment Reporting

During the year the company is engaged in the business of integrated commercial toolrom and related activities only. Hence there are no serparate reportable segments as per AS 17 is applicable.

(b) There are no potential dilutive Equity shares as defined in AS -20 Earnings per share issued by ICAI

AS-2- Taxes on Income

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax is recognized on timing difference, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Deferred Tax Assets in respect of unabsorbed depreciation and carry forward of losses are recognized if there is virtual certainty that there will be sufficient future taxable income available to realiaze such losses. Other Deferred Tax Assets are recognized if there is reasonable certainty that there will be sufficient future taxable income to realize such assets.

I Based on the records and available information with the company the following are the dues to Small Scale Industrial Undertakings exceeding Rs.l Lakhs and are outstanding for more than 30 days as on 31.03.2012 — NIL

II Previous years figures have been regrouped wherever necessary to confirm this years classifiation.

III. Note '1' to ' 21 ' and Notes forming part of accounts form an integral part of the financial Statements.

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Mar 31, 2010

1. Sales includes Excise duty and excludes sales tax

I.Disclosures Applicable to the company under various mandatory accounting Standards issued by ICAI

(b) There are no potential dilutive equity shares as defined in AS-20 earings per share issued by ICAI.

AS-22 - Accounting for Taxation on Income

Deferred tax is recognised on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversing in one or more subsequent periods. Deferred tax is calculated at the tax rates enacted or substantively enacted by the Balance sheet date.

IV. Based on the records and available information with the company the following are the dues to Small Scale Industrial Undertakings exceeding Rs. 1 Lakhs and are outstanding for more than 30 days as on 31.03.10 - NIL

VI. Previous years figures have been regrouped wherever necessary to confirm this years classifiation.

VII. Schedule A to S and Notes forming part of accounts form an integral part of the Financial Statements.