Notes to Accounts of Jainex Aamcol Ltd.

Mar 31, 2025

(v) Provisions, contingent liabilities and contingent assets
(IND AS 37)

a) Provisions

The provisions are recognised and measured by using a substantial
degree of estimation

Provisions are recognized in the balance sheet when the Company
has a present obligation (legal or constructive) as a result of a past
event, which is expected to result in an outflow of resources
embodying economic benefits which can be reliably estimated.
Each provision is based on the best estimate of the expenditure
required to settle the present obligation at the balance sheet date.

Constructive obligation is an obligation that derives from an
entity''s actions where:

(i) by an established pattern of past practice, policies or a sufficiently
specific current statement, the entity has indicated to other parties
that it will accept certain responsibilities and;

(ii) as a result, the entity has created a valid expectation on the part of
those other parties that it will discharge such responsibilities.

(b) Contingent liabilities

Contingent liabilities are disclosed after a careful evaluation of the
facts and legal aspects of the matter involved in the issue.

(c) Contingent assets

Contingent assets are disclosed after a careful evaluation of the facts
and legal aspects of the matter involved in the issue.

(vi) Fair value measurements of financial instruments (IND AS 32)

The company has no financial instruments / investments hence fair value
measurement is not applicable.

(vii) Employee Benefits and Retirement obligations (IND AS 19)

a) Defined Contribution Plan

The state governed Provident Fund Scheme, Employees State
Insurance Scheme and Employee Pension Scheme are defined
contribution plans. The contribution paid / payable under the schemes
are recognised during the year in which the employee renders the
related services.

b) Defined Benefit Plan/ Long Term Compensated Absences.

The company''s Employees Gratuity Fund Scheme managed by the
LIC of India is a defined plan. The present value of obligations based
on past experience and actual valuation done by LIC read with the
compliance of applicable IND AS in this regard has been considered
and provided in the financial statements. Since the valuation by LIC is
based on their vast experience at actuals , no acturial valuation is
done by the management.

c) Compensated Absences

The company has provided for the actual leave encashment liability
at the balance sheet date based on permissible accumulated leave
balance of the employees at the last salary drawn as per company
rules.Since leave encashment liability at actual is fully provided , no
actuarial valuation is done by the management .

2.02 Property, plant and equipment (IND AS 16)

Tangible and intangible property,plant and equipment are stated at cost
less accumulated depreciation and impairment.Cost includes all direct
costs and expenditure incurred to bring the asset to its working condition
and location for its intended use. Related trial run expenses (net of
revenue), borrowing cost during constuction/irrection period and
commisioning are capitalised where ever and whenever applicable. The
gain or loss arising on disposal of an item of property, plant and equipment

is determined as the difference between sale proceeds and carrying
value of such item, and is recognized in the statement of profit and loss.

2.03 Depreciation and amortization of property, plant and equipment and intangible
assets

(a) Depreciation is provided under straight line method (SLM) to the
extent depreciable based on the usefull life of most of the assets as
prescribed in Schedule II of the Companies Act, 2013

(b) Depreciation on Intangible assets is provided onstraight line method
(SLM) and amortised over 5 years of its useful life.

(c) Depreciation on additions is provided on pro-rata basis from the date
of intended use.Depreciation on deletions is provided on pro-rata
basis till the date of its effective use.

(d) No depreciation has been provided on fixed assets where written
down value has reached to 5% of the original cost and also on
fixed assets not put to use.

2.04 Leases (IND AS 17)

a) The company''s ''95 years Leasehold Land at MIDC Aurangabad was
aquired on annual economic rent of Rupee One in 1974.

b) The company has taken a CNC hob re sharpning ( Luren Taiwan
make) machine from Marathwada Auto Cluster, Waluj, Aurangabad
on annual fixed rent of Rs.12 lakhs for a period of 10 years on interest
free refundable deposit vide agreement dated 9th July 2022 with
minimum lock in period of 3 years with an option to extend the
agreement or buy the said machine at mutually agreed terms.

2.05 a) Financial assets

(i) Cash and bank balances

Cash and bank balances consist of

(i) Cash and cash equivalents includes cash in hand, balances held
with banks which are readily convertible into known amounts of
cash, are subject to an insignificant risk of change in value . These
balances with banks are unrestricted for withdrawal and usage.

(ii) Other bank balances which includes balances and deposits with
banks that are restricted for withdrawal and usage.

i(i) Other financial assets are taken at cost or net realisable value as the
case may be.

205 b) Financial Liabilities

Trade and other payables / liabilities

(i) Trade and other payables / liabilites are initially measured at fair
value / cost as recorded in the books.

(ii) Interest bearing bank loans, overdrafts ,term liabilites and other debts
are initially measured at fair value / cost as recorded in the books
using the effective interest rate method. Any difference between the
proceeds (net of transaction costs) and the settlement or redemption
of borrowings is recognized over the term of the borrowings in the
statement of profit and loss.

(iii) The company de-recognizes financial liabilities when, and only when,
the Company''s obligations are discharged, cancelled or they expire.

2.06 Inventories - (IND AS 02)

(i) Inventories of finished goods and scrap are stated at the lower of cost
and net realizable value. Cost is ascertained on a weighted average
basis in respect of raw materials. Costs comprise direct materials
and, where applicable, direct labour costs and those overheads that
have been incurred in bringing the inventories to their present
location and condition in respect of work in progress. Net realizable
value is the price at which the inventories can be realized in the
normal course of business.

(ii) Stores and spare parts are carried at lower of cost and net realizable
value.

(iii) Provisions are made to cover slow moving and obsolete items based
on historical experience of utilization on a product category basis,
which involves individual businesses considering their product lines
and market conditions.

(iv) However, based on above, the inventories are valued as under

(a) Raw materials are valued at cost.

(b) Work in Progress is valued at raw material cost overheads.

(c) Finished Goods are carried at lower of cost or market value which
ever is less

(d) Stores are valued at cost.

(e) Tools and Spares are valued at cost .

(f) Scraps are valued at realisable value

2.07 Non-current assets held for sale and discontinued operations

The company had classified as non current fixed assets held for sale at
scrap value as mentioned in note to financial statements under the head
Property, Plant and Equipments in year FY 19 and FY 23 and has written
off as impairment under the head depreciation, amortisation, impairment
in FY 2020 and FY 2023 due to obsolescence and thus impaired value of
such assets have been considered at net realisable scrap value and is
shown as other current assets

The company has not discontinued any operations during the year.

2.08 Revenue from operations.

(i) Sales and other operational income

Revenue from sale of goods is recognised when the company has
transferred to the buyer the significant risks and rewards of
ownership and no longer retains control over the goods sold.The
amount of revenue can be measured reliably.It is probable that the
economic benefits associated with the transaction will flow to the
company and the costs incurred or to be incurred in respect of the
transaction can be measured reliably.Depending on the contractual
terms, risks and rewards of ownership is transfered when the
delivery is completed. In case of exports, sale delivery is completed
on issuance of bill of lading/air way bill.

(ii) Other income

(a) Interest income is accrued on time proportion basis by reference to
the principal outstanding and effective interest rate applicable.

(b) Other income viz exchange gain/ loss , misc. receipts, bad debts
recovery etc. are accounted on generally accrual basis except
recovery of bad debts, misc receipts which are accounted on receipt
basis

209 Foreign currency transactions and translations

Foreign currency transactions are recorded at exchange rates prevailing
on the date of the transaction. Foreign currency denominated monetary
assets and liabilities are re-translated at the exchange rate prevailing on
the balance sheet date and exchange gains and losses arising on
settlement and re-statement are recognised in the statement of profit and
loss. Non-monetary assets and liabilities that are measured in terms of
historical cost in foreign currencies are not re-translated.

Assets and liabilities with functional currency other than the functional
currency of the Company have been translated using exchange rates
prevailing on the balance sheet date and such profit or loss arising on
translation of such items has been charged to profit and loss account and
no translation reserve has been created as there no such assets or
liabilities having impact during the year.

2.10 Borrowing costs (IND AS 23)

Borrowing costs that are attributable to the acquisition, construction or
production of qualifying assets are capitalized as a part of such assets till
such time as the assets are ready for their intended use. Qualifying
assets are assets that necessarily require a substantial period of time to
get ready for their intended use. All the other borrowing cost is recognized
as an expense on accrual basis.

2.11 Earnings per share (IND AS 33)

Basic/Diluted earnings per share is computed by dividing the profit /
(loss) after tax (including the post tax effect of extraordinary items, if any)
by the number of equity shares outstanding during the year.

2.12 Segment reporting (IND AS 108)

The company''s main product lines are in gear cutting tools viz. gear hobs
and miling cutters which contributes over 93% of its revenue. The
contribution from the balance operation viz. spline guage is mostly
involving common processes and use of the same machineries of main
product lines and thus the company''s operations is considered as a
single segment.

2.13 Change in Accounting Policy (IND AS 8)

There is generally no change in accounting policy.

¹³ Additional regulatory Information

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

b) The Company has utilised the funds towards the purposes for which the
said loans were raised.

c) The Company has not been declared a wilful defaulter by any bank or
financial institution or government or any government authority

d) The Company has not entered into any type of transactions with companies
struck off.

e) The Company does not have any pending charges or satisfaction which are yet
to be registered with Registrar of Companies beyond the statutory period.

f) The Company is in compliance with number of layers of companies as
prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on Number of Layers) Rules, 2017.

g) The Company has not entered into any scheme of arrangement which has an
accounting impact on current or previous financial year.

h) 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 Group shall:

(i) 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

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

i) 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:

(i) 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

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

j) Title deeds of immovable property are held in the name of the Company.

k) The Company has not revalued its Property, Plant and Equipment for the
current year

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

m) The Company has not any such transaction which is not recorded in the
books of account 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

n) The Company is not covered under section 135 of the Companies Act
regarding CSR activities.

o) Capital work in progress for the current year of the company.

Plant & Machinery 301.70

Building 32.72

p) There has been no

q) There are no Intangible assets under development in the current year.

14. Company Secretary

The company has a qualified Company Secretary as required under Section
203(1)(ii) of Companies Act, 2013.

15. Confirmation of Balances

Balance confirmation for Trade Receivables and Trade Payables were sent by
the company and necessary rectification on reconciliation where ever required
has been incorporated in the financials. In case of balances of Trade
Receivable and Trade Payables where confirmation has not received balance
of those parties are subject to reconciliation and confirmation. Confirmation in
respect of unsecured loans have been obtained, checked, verified and found
correct.

16. Figures for previous year have been rearranged/regrouped wherever
necessary

The accompanying notes form an integral part of the Standalone Financial
Statements

As per our report of even date attached
For R. K. JAGETIYA & CO.

^{CHARTERED ACCOUNTANTS} Chief _FinS Officer

& Whole-time Director
(DIN : 00902536

(R. K.JAGETIYA) _

PROPRIETOR (Prashant C. Wadile)

Membership No. : 134691 ^{Whole - time Director}

Firm Regn. No. : 146264W ^{DIN : 08010243}

UDIN : 25134691BMGTEI1691

(Bharati Bafna)
Director
DIN : 01089137

Place : MUMBAI

Dated : 27th May, 2025 _ ^(Sonam ^Dub^ey)

Company Secretary

(ACS 57121)

---

Mar 31, 2024

(v) Provisions , contingent liabilities and contingent assets (IND AS 37)

a) Provisions

The provisions are recognised and measured by using a substantial degree of estimation.

Provisions are recognized in the balance sheet when the Company has a present obligation (legal or constructive) as a result of a past event, which is expected to result in an outflow of resources embodying economic benefits which can be reliably estimated. Each provision is based on the best estimate of the expenditure required to settle the present obligation at the balance sheet date.

Constructive obligation is an obligation that derives from an entity’s actions where:

0) by an established pattern of past practice, published policies or a sufficiently specific current statement, the entity has indicated to other parties that it will accept certain responsibilities and;

(ii) as a result, the entity has created a valid expectation on the part of those other parties that it will discharge such responsibilities.

b) Contingent liabilities

Contingent liabilities are disclosed after a careful evaluation of the facts and legal aspects of the matter involved in the issue.

c) Contingent assets

Contingent assets are disclosed after a careful evaluation of the facts and legal aspects of the matter involved in the issue.

(vi) Fair value measurements of financial instruments (IND AS 32) The company has no financial instruments / investments hence fair value measurement is not applicable.

(vii) Employee Benefits and Retirement obligations (IND AS 19)

a) Defined Contribution Plan

The state governed Provident Fund Scheme, Employees State Insurance Scheme and Employee Pension Scheme are defined contribution plans. The contribution paid / payable under the schemes are recognised during the year in which the employee renders the related services.

b) Defined Benefit Plan / Long Term Compensated Absences.

The company''s Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligations based on past experience and actual valuation done by LIC read with the compliance of applicable IND AS in this regard has been considered and provided in the financial statements. Since the valuation by LIC is based on their vast experience at actuals, no acturial valuation is done by the management.

c) Compensated Absences

The company has provided for the actual leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn as per company rules. Since leave encashment liability at actual is fully provided, no actuarial valuation is done by the management.

2.02 Property, plant and equipment (IND AS 16)

Tangible and intangible property, plant and equipment are stated at cost less accumulated depreciation and impairment. Cost includes all direct costs and expenditure incurred to bring the asset to its working condition and location for its intended use. Related trial run expenses (net of revenue), borrowing cost during constuction/irrection period and commisioning are capitalised where

ever and whenever applicable. The gain or loss arising on disposal of an item of property, plant and equipment is determined as the difference between sale proceeds and carrying value of such item, and is recognized in the statement of profit and loss.

2.03 Depreciation and amortization of property, plant and equipment and intangible assets

a) Depreciation is provided under straight line method (SLM) to the extent depreciable based on the usefull life of most of the assets as prescribed in Schedule II of the Companies Act, 2013

b) Depreciation on additions is provided on pro-rata basis from the date of intended use. Depreciation on deletions is provided on pro-rata basis till the date of its effective use.

c) No depreciation has been provided on fixed assets where written down value has reached to 5% of the original cost and also on fixed assets not put to use.

2.04 Leases (IND AS 17)

a) The company''s ''95 years Leasehold Land at MIDC Aurangabad was aquired on annual economic rent of Rupee One in 1974.

b) The company has taken a CNC hob re sharpning ( Luren Taiwan make)

machine from Marathwada Auto Cluster, Waluj, Aurangabad on annual fixed rent of Rs. 12 lakhs for a period of 10 years on interest free refundable deposit vide agreement dated 09/07/2022 with minimum lockin period of 3 years with an option to extend the agreement or buy the said machine at mutually agreed terms.

2.05 a) Financial assets

(i) Cash and bank balances

Cash and bank balances consist of

(i) Cash and cash equivalents includes cash in hand, balances held with banks which are readily convertible into known amounts of cash, are subject to an insignificant risk of change in value . These balances with banks are unrestricted for withdrawal and usage.

(ii) Other bank balances which includes balances and deposits with banks that are restricted for withdrawal and usage.

(ii) Other financial assets are taken at cost or net realisable value as the case may be.

2.05 b) Financial Liabilities

Trade and other payables / liabilities

(i) Trade and other payables/liabilites are initially measured atfair value/

(ii) Interest bearing bank loans, overdrafts .term liabilites and other debts are initially measured at fair value / cost as recorded in the books using the effective interest rate method. Any difference between the proceeds {net of transaction costs) and the settlement or redemption of borrowings is recognized over the term of the borrowings in the statement of profit and loss.

(iii) The company de-recognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or they expire.

2.06 Inventories - (IND AS 02)

(i) "Inventories of finished goods and scrap are stated at the lower of cost and net realizable value. Cost is ascertained on a weighted average basis in respect of raw materials. Costs comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition in respect of work in progress. Net realizable value is the price at which the inventories can be realized in the normal course of business.

(ii) Stores and spare parts are carried at lower of cost and net realizable value.

(iii) Provisions are made to cover slow moving and obsolete items based on historical experience of utilization on a product category basis, which involves individual businesses considering their product lines and market conditions.

(iv) However, based on above, the inventories are valued as under

a) Raw materials are valued at cost.

b) Work in Progress is valued at raw material cost overheads.

c) Finished Goods are carried at lower of cost or market value which ever is less.

d) Stores are valued at cost.

e) Tools and Spares are valued at cost.

f) Scraps are valued at realisable value

2.07 Non-current assets held for sale and discontinued operations

The company had classified as non current fixed assets held for sale as mentioned in note to financial statements under the head Property, Plant and Equipments in year FY 19 and FY 23 and has written off as impairment under the head depreciation, amortisation, impairment in FY 20 and FY 23 due to obsolescence and thus impaired value of such assets have been considered at

net realisable scrap value as other current assets.

The company has not discontinued any operations during the year.

2.08 Revenue from operations.

(i) Sales and other operational income

Revenue from sale of goods is recognised when the company has ownership recognized over the term of the borrowings in the statement of profit and no longer retains control over the goods sold. The amount of revenue can be measured reliably. It is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Depending on the contractual terms, risks and rewards of ownership is transfered when the delivery is completed. In case of exports, sale delivery is completed on issuance of bill of lading / air way bill.

(ii) Other income

(a) Interest income is accrued on time proportion basis by reference to the principal outstanding and effective interest rate applicable.

(b) Other income viz exchange gain / loss, misc. receipts, bad debts recovery etc. are accounted on generally accrual basis except recovery of bad debts, misc receipts which are accounted on receipt basis

2.09 Foreign currency transactions and translations

Foreign currency transactions are recorded at exchange rates prevailing on the date of the transaction. Foreign currency denominated monetary assets and liabilities are re-translated at the exchange rate prevailing on the balance sheet date and exchange gains and losses arising on settlement and restatement are recognised in the statement of profit and loss. Non-monetary assets and liabilities that are measured in terms of historical cost in foreign currencies are not re-translated.

Assets and liabilities with functional currency other than the functional currency of the Company have been translated using exchange rates prevailing on the balance sheet date and such profit or loss arising on translation of such items has been charged to profit and loss account and no translation reserve has| been created as there no such assets or liabilities having impact during the year.

2.10 Borrowing costs (IND AS 23)

Borrowing costs that are attributable to the acquisition, construction or production of qualifying assets are capitalized as a part of such assets till such time as the assets are ready for their intended use. Qualifying assets are assets that necessarily require a substantial period of time to get ready for their intended use. All the other borrowing cost is recognized as an expense on accrual basis.

2.11 Earnings per share (IND AS 33)

''Basic / Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) by the number of equity shares outstanding during the year.

2.12 Segment reporting (IND AS 108)

The company''s main product lines are in gear cutting tools viz. gear hobs and miling cutters which contributes over 92% of its revenue. The contribution from the balance operation viz. spline guage is mostly involving common processes and use of the same machineries of main product lines and thus the company''s operations is considered as a single segment.

2.13 Change in Accounting Policy (IND AS 8)

There is generally no change in accounting policy.

13 Additional regulatory information

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

b) The Company has utilised the funds towards the purposes for which the said loans were raised.

c) Statements and reports as and when required at timely intervals have been submitted to the bank and are in agreement with the books of accounts.

d) The Company has not been declared a wilful defaulter by any bank or financial institution or government or any government authority.

e) The Company has not entered into any type of transactions with companies struck off.

f) The Company does not have any pending charges or satisfaction which are yet to be registered with Registrar of Companies beyond the statutory period.

g) The Company is in compliance with number of layers of companies as prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on Number of Layers) Rules, 2017.

h) The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

i) 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 Group shall:

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate

Beneficiaries.

j) 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:

(i) 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

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

k) Title deeds of immovable property are held in the name of the Company.

l) The Company has not revalued its Property, Plant and Equipment for the current year.

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

n) The Company has not any such transaction which is not recorded in the books of account 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.

o) The Company is not covered under section 135 of the Companies Act regarding CSR activities.

p) There has been no capital work in progress for the current year of the company.

q) There are no Intangible assets under development in the current year.

14 Company Secretary

The company had a qualified Company Secretary as required under Section 203(1 )(ii) of Companies Act, 2013.

15 Confirmation of Balances

Request confirmations of balances trade receivables were sent to customers but responses have not come before the conclusion of audit hence no impact of differences has been considered. Similarly, confirmation of sundry creditors were not sent as external evidence and balances as per books has been relied upon. Confirmation in respect fo unsecured loans have been obtained, checked, verified and found correct.

16 Figures for previous year have been rearranged/regrouped wherever

necessary.

Notes to the Financial Statements - Note Nos. 1 to 30

The accompanying notes form an integral part of the Standalone financial

statements.

As per our report of even date attached

For R. K. JAGETIYA (M. Z. Kothari)

CHARTERED ACCOUNTANTS Managing Director

(DIN : 01486305)

(Kunal Bafna) Chief Financial Officer

(R.K.JAGETIYA) & Whole-time Director

PROPRIETOR (DIN : 00902536)

Membership No.: 014098 Firm Regn. No.: 110271 W

UDIN : F008276f000939681 _

(Rahul Dugar) Director (DIN : 00013704)

(Sonam Dubey)

Place Mumbai Company Secretary

Dated 30th May, 2023 (ACS 57121)

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Mar 31, 2014

Sr. FY -13-14 FY-12-13 No- Particulars

NOTE NO: 1 ADDITIONAl INFORMATION

1 CONTINGENT LIABILITIES AND COMMITMENTS (To the extent not provided for)

a) Contingent liabilities

(i) Claims against the company not a cknowledged as debt 0 0

(ii) Guarantees

Bank Guarantee valid upto 28/09/2021 against EPGC Licence issued by Bank of India against export obligations to be fulfilled in 6 yrs commencing from FY 12. The said guarantee is equivalent to 15% of duty saved amount of Rs. 119.49 lacs on import of 3 Machines (now reduced to two machines) under export obligatioi against which 100% margin by way of TOR (i.e. 15% of Rs. 119.49 lacs equivalent to Rs. 17.92 lacs but rounded to Rs. 20.70 lacs) is held by bank. 2070000 2070000

(iii) A Bond of Rs. 335 lacs in the form of undertaking dated 27/09/2011 is given by the Company under said EPGC No. 03330030577 dated 15/09/2011 in favour of President of India account custom towards duty saved plus interest for 10 years atl8% p.a. in case if there is a short fall in meeting the export obligations. (Net of export obligation fulfilled in FY 12, FY 13 & FY 14, balance Export obligations to be fulfilled in 3 years by FY -17) 13147381 23400000

15217381 25470000

2 The Disclosures required under Accounting Standard 15 "Employee Benefits" notified in the Companies (Accounting Standards) Rules, 2006 are given below.

b) Defined benefit plan/ Long Term Compensated Absences.

The company''s Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligation based on actuarial valuation using the Projected Unit Credit Method is not determined and any effect thereof will be provided / accounted as and when finalized.

c) Compensated Absences

The company has provided for the leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn. Liability as per actuarial valuation is not determined arid any effect thereof will be provided / accounted as and when finalized. The company has no defined benefit plan for this purpose as yet.

3 Amounts not provided for

a) Import against DALC for Rs NIL for purchase of raw materials (previous year Rs NIL).

b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs and Rs. 2.97 lacs which the company is contesting before the appropriate authority/Court.

c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by the MIDC CIDCO Police Station, Aurangabad against the erstwhile Technical Director, N. K. Chatterjee and two other ex-employees of the company for the misappropriation of funds carried out by them during their tenure of employment with the company in FY 03 - 04. The company has also filed a suit in the City Civil Court at Aurangabad claiming an amount of Rs 72 lacs from N.K. Chatterjee for the amounts misappropriated. The amounts so misappropriated will be accounted for in the year of recovery. As a counter blast to the FIR, the said ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 - 05 for his alleged terminal dues in the City Civil Court, Aurangabad which is being contested by the company.

d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is represented by the company for remission/ waiver.

e) On account of additional custom duty demand of Rs. 7,13,812/- on a CNC machine imported in FY 07 - 08 which had been contested in appeal before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been paid as advance against the same.

4 Realisable value

In the opinion of the Board, all assets other than fixed assets have a realisable value in the ordinary course of business which is not less than the amount at which it is stated.

5 The company is not required to have a Qualified Company Secretary in view of Section 383A of Companies Act, 1956.

6 Confirmation of Balances

The balances of trade receivables, trade payables, unsecured loans and loans and advances are subject to confirmation.

7 Related Party Disclosures

a) Related Party and their Relationship

Subsidiaries : NIL

Associates : Jainex Foods Private Limited

Jainex Limited

Jainex Imports & Exports Private Limited

Dugar Brothers & Company

Key Management Personnel : Mr. B. S. Dugar (Chairman)

Mr. R. Mazumdar (Ex. MD)

Mr. M. Z. Kothari (Jt. MD now MD)

Mr. Kunal Bafna

Relatives of Key Management Personnel : NIL

8 Figures for previous year have been rearranged/regrouped wherever necessary.

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Mar 31, 2013

1. The Gross Block of Fixed Assets as at 31.03.2013 include Rs. 339.21 lacs(p. y. Rs. 343.82) (net of sale of half land at Aurangabad during the financial year FY 03 and machinery in FY 13) on account of revaluation of Fixed Assets of Aurangabad Unit comprising Land, Building and Plant & Machinery carried out on 01.04.98 by an approved valuer.

2. Cummulative amount transferred on account of depreciation on revaluation 7 280.12 lacs (net of adjustment/deduction on account of sale of land)

3. No depreciation has been charged on assets not in use.

Sr. FY-12-13 FY-11-12 Particulars No

Against export obligations to be fulfilled in 6 yrs commencing from FY 12. The said guarantee is equivalent to 15% of duty saved amount of Rs. 119.49 lacs on import of 3 Machines under export obligation against which 100% margin by way of TDR is held by bank. 1800000 1800000

a) Defined Contribution Plan

Contribution to Defined Contribution Plan, reco- gnised are charged off for the year are as under.

Employers Contribution to state governed Provident Fund Employers Contribution to state governed Pension Schemes Employers Contribution to state governed Employees State Insurance

b) Defined benefit plan/ Long Term Compensated Absences.

The company''s Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligation based on actuarial valuation using the Projected Unit Credit Method is not determined and any effect thereof will be provided / accounted as and when finalized.

c) Compensated Absences

The company has provided for the leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn. Liability as per actuarial valuation is not determined and any effect thereof will be provided / accounted as and when finalized. The company has no defined benefit plan for this purpose as yet.

4 Amounts not provided for

a) Import against DALC for Rs NIL for purchase of raw materials (previous year Rs NIL).

b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs and Rs. 2.97 lacs which the company is contesting before the appropriate authority and is of the view that the claim will not sustain.

c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by the MIDC CIDCO Police Station, Aurangabad against the erstwhile Technical Director, N. K. Chatterjee and two other ex-employees of the company for the misappropriation of funds carried out by them during their tenure of employment with the company in FY 03 - 04. The company has also filed a suit in the City Civil Court at Aurangabad claiming an amount of Rs 72 lacs from N.K. Chatterjee for the amounts misappropriated. The amounts so misappropriated will be accounted for in the year of recovery. As a counter blast to the FIR, the said ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 - 05 for his alleged terminal dues in the City Civil Court, Aurangabad which is being contested by the company.

d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is represented by the company for remission/ waiver.

e) On account of additional custom duty demand of Rs. 7,13,812/- on a CNC machine imported in FY 07 - 08 which had been contested in appeal before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been paid as advance against the same.

5 Realisable value

In the opinion of the Board, all assets other than fixed assets have a realisable value in the ordinary course of business which is not less than the amount at which it is stated.

6 The company is not required to have a Qualified Company Secretary in view of Section 383A of Companies Act, 1956.

7 Confirmation of Balances

The balances of trade receivables, trade payables, unsecured loans and loans and advances are subject to confirmation

8 Related Party Disclosures

a) Related Party and their Relantionship

Subsidiaries : NIL

Associates : Jainex Foods Private Limited

Jainex Limited

Jainex Imports & Exports Private Limited Dugar Brothers & Company

Key Management Personnel : Mr-B-s- Du8ar (Chairman)

Mr. R. Mazumdar (MD) Mr. M. Z. Kothari (Jt. MD)

Relatives of Key Management Personnel: NIL

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Mar 31, 2012

1 CONTINGENT LIABILITIES AND COMMITMENTS (To the extent not provided for) a) Contingent liabilities

(i) Claims against the company not acknowledged as debt 0 0

(ii) Guarantees

Bank Guarantee valid upto 28/09/2021 against EPGC Licence issued by Bank of India Against export obligations to be fulfilled in 6 yrs commencing from FY 12. The said guarantee is equivalent to 15% of duty saved amount of Rs. 119.49 lacs on import of 3 Machines under export obligation against which 100% margin by way of TDR is held by bank. 1800000 0

(iii) A Bond of Rs. 335 lacs in the form of undertaking dated 27/09/2011 is given by the Company under said EPGC No. 03330030577 dated 15/09/2011 in favour of President of India account custom towards duty saved plus interest for 10 years at 18% p.a. in case if there is a short fell in meeting the export obligations. (Net of export obligation fulfilled in FY 12, balance Export obligations to be fulfilled in 5 years by FY -17) 29400000 0

31200000 0

b) Defined benefit plan/ long Term Compensated Absences.

The company's Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligation based on actuarial valuation using the Projected Unit Credit Method is not determined and any effect thereof will be provided / accounted as and when finalized.

c) Compensated Absences

The company has provided for the leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn. Liability as per actuarial valuation is not determined and any effect thereof will be provided / accounted as and when finalized. The company has no defined benefit plan for this purpose as yet.

2 Amounts not provided for. .

a) Import against DALC for Rs NIL for purchase of raw materials (previous year Rs NIL).

b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs and Rs. 2.97 lacs which the company is contesting before the appropriate authority and is of the view that the claim will not sustain.

c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by the MIDC CIDCO Police Station, Aurangabad against the erstwhile Technical Director, N. K. Chatterjee and two other ex-employees of the company for the misappropriation of funds carried out by them during their tenure of employment with the company in FY 03 - 04. The company has also filed a suit in the Gty Civil Court at Aurangabad claiming an amount of Rs 72 lacs from NX Chatterjee for the amounts misappropriated. The amounts so misappropriated will be accounted for in the year of recovery. As a counter blast to the FIR, the said ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 - 05 for his alleged terminal dues in the Gty Civil Court, Aurangabad which is being contested by the company.

d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is represented by the company for remission/ waiver.

e) On account of additional custom duty demand of Rs. 7,13,812/- on a CNC machine imported in FY 07 - 08 which had been contested in appeal before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been paid as advance against the same.

3 Realisable value

In the opinion of the Board, all assets other than fixed assets have a realisable value in the ordinary course of business which is not less than the amount at which it is stated.

4 The company is not required to have a Qualified Company Secretary in view of Section 383A of Companies Act, 1956.

5 Confirmation of Balances

The balances of trade receivables, trade payables, unsecured loans and loans and advances are subject to confirmation

6 Figures for previous year have been rearranged/regrouped wherever necessary.

7 Balance Sheet and Statement of Profit & Loss are drwan as per notification No. S.O. 447 (E) dt. 28.02.2011 on revised Schedule VI to the Companies Act. 1956.

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Mar 31, 2011

1 The company is not required to have a Qualified Company Secretary in view of Section 383A of Companies Act, 1956.

2 The balances of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation.

3 Commitments pending on capital accounts is Rs. 617 lacs -net of advance (previous year Rs. NIL).

4 Provision for Contingencies (not provided)

a Import against DALC for Rs NIL for purchase of raw materials (previous year Rs. NIL).

b On account of claim by two ex-employee amounting to Rs. 0.37 lacs and Rs. 2.97 lacs which the company is contesting before the appropriate authority and is of the view that the claim will not sustain.

c A charge sheet has been filed in the JMFC, XVth Court,Aurangabad by the MIDC CIDCO Police Station, Aurangabad against the erstwhile Technical Director, N. K. Chatterjee and two other ex-employees of the company for the misappropriation of funds carried out by them during their tenure of employment with the company. The company has also filed a suit in the City Civil Court at Aurangabad claiming an amount of Rs 72 lacs from N. K. Chatterjee for the amounts misappropriated. The amounts so misappropriated will be accounted for in the year of recovery. As a counterblast to the FIR, the said ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs for his alleged terminal dues in the City Civil Court, Aurangabad which is being contested by the company.

d On account of penalty of Rs 1.75 lacs imposed by SEBI which is represented by the company for remission/ waiver.

e On account of additional custom duty demand of Rs. 713812 on account of a CNC machine imported in ealier years which had been contested in appeal before tha Appellate Tribunal.

5. Related party Disclosure

(a) Related Party and their Relationship.

Subsidiries NIL

Associates Jainex Foods Pvt. Limited

Jainex Limited

Jainex Imports & Exports Pvt. Limited

Dugar Brothers & Company

Key Management Personnel Mr. B. S. Dugar (Chairman)

Mr. R. Mazumdar (MD),

Mr. M. Z. Kothari (Jt MD),

Mr. Rahul Dugar (WTD).

Relatives of Key Management Personnel

6 The Disclosures required under Accounting Standard 15 "Employee Benefits* notified in the Companies (Accounting Standards) Rules, 2006 are given below.

b) Defined benefit plan/ Long Term Compensated Absences.

The company's Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligation based on actuarial valuation using the Projected Unit Credit Method is being determined and any effect thereof will be provided / accounted as and when finalized.

c) Compensated Absences

The company has provided for the leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn. Liability as per actuarial valuation is being determined and any effect thereof will be provided / accounted as an when finalized. The company has no defined benefit plan for this purpose as yet.

7 Information pursuant to Part IV of Schedule VI to the Companies Act, 1956. Balance Sheet abstract and general business profile and cash flow statement pursuant to clause 32 of listing agreement are annexed hereto.

8 Figures for previous year have been rearranged/regrouped wherever necessary.

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Mar 31, 2010

1 Sundries in schedule 14 includes Auditors

Remuneration as under

Audit Fees

Tax Audit Fees

Taxation and other matters

2 The company is not required to have a Qualified Company Secretary in view of Section 383A of Companies Act, 1956.

3 The balances of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation.

4 Commitments on capital accounts pending is Rs. NIL (previous year Rs. NIL).

5 Provision for Contingencies

a Import against DALC for Rs NIL for purchase of raw materials (previous year Rs. NIL).

b On account of claim by two ex-employee amounting to Rs. 0.37 lacs and Rs. 2.97 lacs which the company is contesting before the appropriate authority and is of the view that the claim will not sustain.

c A charge sheet has been.filed in the JMFC, XVth Court,

Aurangabad by the MIDCCIDCO Police Station, Aurangabad against the erstwhile Technical Director, N. K. Chatterjee and two other ex-employees of the company for the misappropriation of funds carried out by them during their tenure of employment with the company. The company has also filed a suit in the City Civil Court at Aurangabad claiming an amount of Rs 72 lacs from N. K. Chatterjee for the amounts misappropriated. The amounts so misappropriated will be accounted for in the year of recovery. As a counterblast to the FIR, the said ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs for his alleged terminal dues in the City Civil Court, Aurangabad which is being contested by the company.

d On account of penalty of Rs 1.75 lacs imposed by SEBI which is represented by the company for remission/ waiver.

6. Related party Disclosure

6 (a) Related Party and their Relationship.

Subsidiries NIL

Associates Jainex Foods Pvt. Limited

Jainex Limited

Jainex Imports & Exports Pvt. Limited

Dugar Brothers & Company

Key Management Personnel: Mr. B. S. Dugar (Chairman)

Mr. R. Mazumdar (MD), Mr. M. Z. Kothari (Jt. MD), Mr. Rahul Dugar (WTD). Relatives of Key Management Personnel

7 The Disclosures required under Accounting Standard 15 "Employee Benefits" notified in the Companies (Accounting Standards) Rules, 2006 are given below.

b) Defined benefit plan/ Long Term Compensated Absences.

The companys Employees Gratuity Fund Scheme managed by the LIC of India is a defined plan. The present value of obligation based on actuarial valuation using the Projected Unit Credit Method is being determined and any effect thereof will be provided / accounted as and when finalized.

c) Compensated Absences

The company has provided for the leave encashment liability at the balance sheet date based on permissible accumulated leave balance of the employees at the last salary drawn. Liability as per actuarial valuation is being determined and any effect thereof will be provided / accounted as an when finalized. The company has no defined benefit plan for this purpos as yet.

8 Information pursuant to Part IV of Schedule VI to the Companies Act, 1956. Balance Sheet abstract and general business profile and cash flow statement pursuant to clause 32 of listing agreement are annexed hereto.

9 Figures for previous year have been rearranged/regrouped wherever necessary.