Notes to Accounts of Jaipan Industries Ltd.

Mar 31, 2024

* I he carrying amounts of trade receivables and cash and cash equivalents, approximates the fair values, due to their short term nature.

¹ the Company''s borrowings have been contracted at floating rates of interest which resets at short intervals Accordingly, the carrying value of such borrowings (including interest accrued but not due) apporximates fair value

b. Financial risk management

The Company has exposure to the following nsks ansing from financial instruments:

• Credit risk;

• Liquidity risk , and

• Market Risk Interest rate

Credit risk is the nsk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations

Credit nsk on cash and cash equivalents is limited as the Company generally invests in deposits with scheduled banks.

The maximum exposure to the credit risk at the reporting date is pnmanly from trade receivables. Trade receivables are typically unsecured and are derived from revenue earned from operations

(il) Liquidity risk

Liquidity nsk is the nsk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by detivenng cash or another financial assets The Company''s approach to manage liquidity is to have sufficient liquidity to meet it''s iiabiities when they are due, under both normal and stressed circumstances, without incumng unacceptable losses or nskmg damage to the Company''s reputation

Exposure to liquidity risk

The (oJtowing are the remaining contractual maturities of financial liabilities at the reporting date. The contractual cash flow amounts are gross and undiscounted, and includes interest accrued but not due on borrowings

21. Segment Reporting

The Company is engaged in the manufacture of Specialty Chemicals, which in the context of Ind AS 108- Operating segment speeded under section 133 of the Companies Act, 2013 is considered as a single business segment of the company-

22. FIRE INCIDENT

Afire broke out af our Vasai. Patghar. Maharashtra plant on 09" January, 2024 Tins incident resulted in 1 fatality The fire has resulted in disruption of operations at the plant owing to damage to some inventory and property, plant and equipment (csL at ? 9.38 lakhs) Alternate arrangements for continuity of operations have been made The Company has insurance policies covenng inventory, property, plant and equipment and a claim has been filed. This being an event occurring after the balance sheet date, the impact of loss will be accounted for in FY2023-24.

23. Additional Disclosures

Additional information and disclosures as required under Schedule ill to the act to the extent applicable to the company has been disclosed.

i The Company does not have any Ben ami property, where any proceeding has been inibated or pending against the Company for

holding any Benami property.

iL The Company does not have any transactions with companies struck off

iii. The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies beyond the statutory penod

iv The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended March 31,2024.

v. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ic-s) including foreign entities (Intermediaries) with the understanding that the Intermediary sh3ll (a) directly or indirectly iend 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, secunty or the like to or on behalf of the Ultimate Beneficiaries

vi. 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 tend or invest in other poisons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Benoficiaries) or (b) provide any guarantee, secunty or the like on behalf of the Ultimate Beneficiaries

vfi. The Company has no 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 TaxAct 1961)

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

24 The company has evaluated the option permitted under section 115BAA of the Income Tax Act, 1961 (the "Act") as introduced by the Taxation Laws (Ammendment) Ordinance, 2019. Accordingiy. the Company has presently decided to continue with the existing tax structure

25. The previous year figures have been regrouped, reallocated or reclassified wherever necessary to confirm to current year classification and presentation

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Mar 31, 2015

1. Nature of operations

Jaipan Industries Limited ("Jaipan" or "the Company"), a public limited company was incorporated on 27th April, 1965. The Company is primarily engaged in the manufacturing & trading of home appliances.

The Company's registered office is at 17, Jai Villa Compound, Cama Industrial Estate, Walbhat Road, Goregaon (E), Mumbai -400 063 Maharashtra, India.

2. Basis of preparation of financial statements

The financial statements have been prepared on the basis of going concern under historical cost convention on the accrual basis of accounting, and comply in all material aspects with applicable Accounting Principles in India prescribed by the Central Government. The Accounting Standards notified under Section 211(3C) (which continues to be applicable in terms of general circular 15/2013 dated September 13, 2013 of the ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013) and the relevant provisions of the said Act. The accountings policies have been consistently applied by the Company, except for the changes in accounting policy discussed in note 13 of Schedule 23 and are consistent with those used in the previous year. The financial statements are presented in Indian Rupees, unless otherwise specified.

3. Contingent liabilities and claims not acknowledged as debts

i. Unpaid disputed dues:

Sr. Name ofthe Nature of Forum Amount No. Statue Dues where '(In dispute Lacs) is pending

1 Maharashtra Sales Tax (2002-03, 2003-04, 2004-05, Sales Tax Appeal 153.86

2 Maharashtra Sales Tax (2006-07) Sales Tax Appeal 460.50

3 Maharashtra Sales Tax (2006-07) Sales Tax Appeal 170.91

4 Maharashtra Sales Tax (2009-10) Sales Tax Appeal 118.78

5 Maharashtra Sales Tax (2009-10) Sales Tax Appeal 40.05

6 Maharashtra Sales Tax (2011-12) CST Appeal 33.26

7 Maharashtra Sales Tax (2011-12) Sales Tax Appeal 3.15

8 Maharashtra Sales Tax (2007-08) CST Appeal 48.99

9 Maharashtra Sales Tax Sales Tax Appeal 152.48

10 Bank Guarantee for Release Central - 5.85 of Goods Excise

11 Bank Guarantee for Release Central - 12.34 of Goods Excise

4. Performance guarantees issued

Bank guarantees given by the Company for performance are Rs. 18.19 lacs (previous year: Rs. Nil)

5. Bills discounted

Bills supported by letters of credit accepted by customers and discounted with banks are Rs. Nil (previous year: Rs. Nil).

6. Capital commitments:

Estimated amount of contracts remaining to be executed on capital account not provided for are Rs. Nil (previous year: Rs Nil).

7. Employee benefits Defined contribution plan

The Company Total contributed Rs. 7,96,950/-to the provident fund plan during the year ended March 31,2015 (previous year: Rs. 75,078/).

8. Segment Reporting

Geographical Segment

In accordance with AS 17 the company has identified the reportable segments as on 31 -03-2015 and others taking into account the nature of different Risks and returns and the internal reporting systems. The company operates into Eleventh geographical segments, namely, Mumbai, Silvassa, Delhi & Eight others Segments (Branches). The segment revenue, segment results, total carrying amount of segment assets and liabilities, total costs incurred to acquire segment assets, total amount of charge of depreciation during the year is as reflected in the financial statements for the year ended March 31,2015.the accounting policies for segment reporting are in line with the accounting policies followed by the company.

9. Related party disclosures

As required under Accounting Standard 18 - Related Parties, details and disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

Category I: Key management personnel

Category II: Associate concerns controlled by the directors.

10. Previous year figures

Previous year figures have been re-grouped/re-casted wherever considered necessary to make them comparable with those of the current year. Signatures to schedules 1 to 11

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Mar 31, 2014

1. Nature of operations

Jaipan Industries Limited ("Jaipan" or "the Company"), a public limited company was incorporated on 27th April, 1965. The Company is primarily engaged in the manufacturing & trading of home appliances.

The Company''s registered office is at 17, Jai Villa Compound, Cama Industrial Estate, Walbhat Road, Goregaon (E), Mumbai - 400 063 Maharashtra, India.

2. Basis of preparation of financial statements

The financial statements have been prepared on the basis of going concern under historical cost convention on the accrual basis of accounting, and comply in all material aspects with applicable Accounting Principles in India prescribed by the Central Government. The Accounting Standards notified under Section 211(3C) (which continues to be applicable in terms of general circular 15/2013 dated September 13, 2013 of the ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013) and the relevant provisions of the said Act.. The accountings policies have been consistently applied by the Company, except for the changes in accounting policy discussed in note 13 of Schedule 23 and are consistent with those used in the previous year. The financial statements are presented in Indian Rupees, unless otherwise specified.

3. Loans:

a) Secured working capital loans:

These include Cash Credit, Packing Credit and letter of credit facility from Bank of Baroda secured by way of charge on hypothecation of inventories and book debts (except specific clearing and forwarding services receivables) of the Company, situated at Silvasa and Mumbai office. Further, these loans are secured by collateral charge on factory Building situated at silvassa. Further, these loans are secured by personal guarantee of Directors, Mr. J.N.Agawal and Mr. Atin Agarwal. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

b) Secured term loans:

These include loans from banks and financial institutions secured by way of first charge / mortgage in respect of the Company''s immovable and movable properties, both present and future. Presently company has not obtained any secured terms loan from any bank or the financial institution

c) Secured vehicle loans:

These include hire-purchase loans from banks for purchase of various vehicles secured by way of hypothecation of respective vehicles. Amounts payable within one year Rs. 67,07,617.20/-(previous year: Rs. 67,51,723/-).

d) Unsecured loans:

Working capital requirements obtained from others and is payable within one year. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

4. Sundry Creditors

The Company has no details of Small Scale Industrial undertakings & Micro, Small and Medium Enterprises.

5. Contingent liabilities and claims not acknowledged as debts i. Unpaid disputed dues:

Sr. Name of the Nature of Dues Forum where dispute Amount Statue is pending (In Lacs)

1 Maharashtra Sales Tax Sales Tax Appeal 153.86

2 Maharashtra Sales Tax (2006-07) Sales Tax Appeal 460.50

3 Central Sales Tax (2006-07) Sales Tax Appeal 170.91

4 Maharashtra Sales Tax (2009-10) Sales Tax Appeal 118.78

5 Central Sales Tax (2009-10) Sales Tax Appeal 40.05

ii. Performance guarantees issued

Bank guarantees given by the Company for performance are Rs. Nil (previous year: Rs. Nil)

iii. Bills discounted

Bills supported by letters of credit accepted by customers and discounted with banks are Rs. Nil (previous year: Rs. Nil)

iv. Capital commitments:

Estimated amount of contracts remaining to be executed on capital account not provided for are Rs. Nil (previous year: Rs Nil)

6. Employee benefits Defined contribution plan

The Company contributed Rs. 75,078/-to the provident fund plan during the year ended March 31, 2014 (previous year: Rs. 39,672/)

7. Segment Reporting Geographical Segment

In accordance with AS 17 the company has identified the reportable segments as on 31-03-2014 and others taking into account the nature of different Risks and returns and the internal reporting systems. The company operates in to nine geographical segments, namely, Mumbai, Silvassa, Delhi & Six others Segments (Branches). The segment revenue, segment results, total carrying amount of segment assets and liabilities, total costs incurred to acquire segment assets, total amount of charge of depreciation during the year is as reflected in the financial statements for the year ended March 31, 2014.the accounting policies for segment reporting are in line with the accounting policies followed by the company.

8. Related party disclosures

As required under Accounting Standard 18 - Related Parties, details and disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

Category I: Key management personnel

Category II: Associate concerns controlled by the directors.

9. Previous year figures

Previous year figures have been re-grouped/re-casted wherever considered necessary to make them comparable with those of the current year.

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Mar 31, 2013

1. Nature of operations

Jaipan Industries Limited (''Jaipan" or "the Company"), a public limited company was incorporated on 27th April, 1965. The Company is primarily engaged in the manufacturing & trading of home appliances.

The Company''s registered office is at 17, Jai Villa Compound, Cama Industrial Estate, Walbhat Road, Goregaon (E), Mumbai - 400 063 Maharashtra, India.

2. Basis of preparation of financial statements

The financial statements have been prepared under historical cost convention on the accrual basis of accounting, are in accordance with the applicable requirements of the Companies Act, 1956 (the ''Act'') and comply in all material aspects with the Accounting Standards prescribed by the Central Government, in accordance with the Companies (Accounting Standards) Rules, 2006, to the extent applicable. The accountings policies have been consistently applied by the Company, except for the changes in accounting policy discussed in note 13 of Schedule 23 and are consistent with those used in the previous year. The financial statements are presented in Indian Rupees, unless otherwise specified.

3. Loans

a) Secured working capital loans:

These include Cash Credit, Packing Credit and letter of credit facility from Bank of Baroda secured by way of charge on hypothecation of inventories and book debts (except specific clearing and forwarding services receivables) of the Company, situated at Silvasa and Mumbai office. Further, these loans are secured by collateral charge on factory Building situated at silvassa. Further, these loans are secured by personal guarantee of Directors, Mr. J.N.Agawal and Mr. Atin Agarwal. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

b) Secured term loans:

These include loans from banks and financial institutions secured by way of first charge / mortgage in respect of the Company''s immovable and movable properties, both present and future. Presently company has not obtained any secured terms loan from any bank or the financial institution.

c) Secured vehicle loans:

These include hire-purchase loans from banks for purchase of various vehicles secured by way of hypothecation of respective vehicles. Amounts payable within one year Rs. 67,51,723/-(previous year: Rs. 54,19,932/-).

d) Unsecured loans:

Working capital requirements obtained from others and is payable within one year. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

4. Sundry Creditors

The Company has no details of Small Scale Industrial undertakings & Micro, Small and Medium Enterprises.

5. Employee benefits Defined contribution plan

The Company contributed Rs. 39,672/-to the provident fund plan during the year ended March 31, 2012 (previous year: Rs. 1, 02,413/)

6. Segment Reporting Primary Business Segment

In accordance with AS 17 the company operates in to two business segments, namely, Home appliances Segment and Mobile. The Home Appliances segment is the primary business segment comprises of manufacture and trading of Home Appliances, while Mobile Segment is entirely a trading business of the company. The segment revenue, segment results, total carrying amount of segment assets and liabilities, total costs incurred to acquire segment assets, total amount of charge of depreciation during the year is as reflected in the financial statements for the year ended March 31, 2013.

7. Related party disclosures

As required under Accounting Standard 18 - Related Parties, details and disclosures of transactions with the related parties as defined in the

Accounting Standard are given below:

Category I: Key management personnel.

Category II: Associate concerns controlled by the directors.

8. Previous year figures

Previous year figures have been re-grouped/re-casted wherever considered necessary to make them comparable with those of the current year.

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Mar 31, 2012

1. Nature of operations

Jaipan Industries Limited ('Jaipan" or "the Company"), a public limited company was incorporated on 27th April, 1965. The Company is primarily engaged in the manufacturing & trading of home appliances.

The Company's registered office is at 17, Jai Villa Compound, Cama Industrial Estate, Walbhat Road, Goregaon (E), Mumbai - 400 063 Maharashtra, India.

2. Basis of preparation of financial statements

The financial statements have been prepared under historical cost convention on the accrual basis of accounting, are in accordance with the applicable requirements of the Companies Act, 1956 (the 'Act') and comply in all material aspects with the Accounting Standards prescribed by the Central Government, in accordance with the Companies (Accounting Standards) Rules, 2006, to the extent applicable. The accountings policies have been consistently applied by the Company, except for the changes in accounting policy discussed in note 13 of Schedule 23 and are consistent with those used in the previous year. The financial statements are presented in Indian Rupees, unless otherwise specified.

3. Loans

a) Secured working capital loans:

These include Cash Credit, Packing Credit and letter of credit facility from Bank of Baroda secured by way of charge on hypothecation of inventories and book debts (except specific clearing and forwarding services receivables) of the Company, situated at Silvasa and Mumbai office. Further, these loans are secured by collateral charge on factory Building situated at silvassa. Further, these loans are secured by personal guarantee of Directors, Mr. J.N.Agawal and Mr. Atin Agarwal. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

b) Secured term loans:

These include loans from banks and financial institutions secured by way of first charge / mortgage in respect of the Company's immovable and movable properties, both present and future. Presently company has not obtained any secured terms loan from any bank or the financial institution.

c) Secured vehicle loans:

These include hire-purchase loans from banks for purchase of various vehicles secured by way of hypothecation of respective vehicles. Amounts payable within one year Rs. 54,19,932/- (previous year: Rs. 1,58,63,738/-).

d) Unsecured loans:

Working capital requirements obtained from others and is payable within one year. These loans are generally extended for a period of one year and mutually renewable every year with a clause of payable on demand.

4. Sundry Creditors

The Company has no details of Small Scale Industrial undertakings & Micro, Small and Medium Enterprises.

5. Contingent liabilities and claims not acknowledged as debts i. Unpaid disputed dues:

Sr. No.Name of the Statue Nature of Dues Forum where dispute is Pending Amount Rs. In Lacs

1 Maharashtra Sales Tax Sales Tax Appeal 152.48

ii. Performance guarantees issued

Bank guarantees given by the Company for performance are Rs. Nil (previous year: Rs. Nil)

iii. Bills discounted

Bills supported by letters of credit accepted by customers and discounted with banks are Rs. Nil (previous year: Rs. Nil)

iv. Capital commitments:

Estimated amount of contracts remaining to be executed on capital account not provided for are Rs. Nil (previous year: Rs Nil)

6. Employee benefits Defined contribution plan

The Company contributed Rs. 102413 to the provident fund plan during the year ended March 31, 2012 (previous year: Rs. 250639/-)

7. Segment Reporting Primary Business Segment

In accordance with AS 17 the company operates in to two business segments, namely, Home appliances Segment and Mobile. The Home Appliances segment is the primary business segment comprises of manufacture and trading of Home Appliances, while Mobile Segment is entirely a trading business of the company. The segment revenue, segment results, total carrying amount of segment assets and liabilities, total costs incurred to acquire segment assets, total amount of charge of depreciation during the year is as reflected in the financial statements for the year ended March 31,2012.

8. Related party disclosures

As required under Accounting Standard 18 - Related Parties, details and disclosures of transactions with the related parties as defined in the

Accounting Standard are given below:

Category I: Key management personnel.

Category II: Associate concerns controlled by the directors.

a) Name of Related Parties and description of Relationship:

Key Management Personnel Mr. J. N. Agarwal - Chairman

Mr. Atin J. Agarwal - Executive Director Mr. Ashwini O. Sharma - Executive Director Mr. Arjun Mehrotra - Executive Director. Mr. Shrish Gotecha

b) Enterprises in which Key Management Jaipan Sogo Electronics Pvt. Ltd. Personnel and their relatives have Jaipan Kitchen Appliances Significant influence Hansa Motor Works.

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Mar 31, 2009

1. Contingent Liabilities :

Contingent Liabilities not provided for in respect of:

Current Year Previous Year (Rupees) (Rupees)

Bank Guarantee Nil Nil

Bill of Exchange Nil Nil

2. The Previous periods figures have been regrouped and rearranged whenever necessary to conform to the classification adopted for current year.

3. Sundry Creditors, Sundry Debtors, Trade Deposits received, Loans & Advances, Deposits paid are subject to confirmation and reconciliation, in case of some parties.

4. In the opinion of the Board all the Current Assets and Loans and Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise. The provisions for depreciation and all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. Directors Remuneration :,

Additional Information Pursuant to para 4 part-ll Schedule-VI of The Companies Act, 1956 detail of remuneratio paid to Managing Director -

6. Earning pershare [EPS]:

According to Accounting Standard 20[AS20] issued by The Institute of Chartered Accountant of India on Earning per Share:

Earning per share [EPS] is calculated by dividing the profit attributable to equity shareholders by the number of equity share outstanding during the year. Numbers used for calculating basic and diluted earning per equity share are stated as below -

7. Desclosure under Micro,Small and Medium Enterprises Devlopment [MSMED] Act, 2006 :

The Company does not possess information as to which of its suppliers are ancillary industrial undertaking holding permanent registration certificate issued by the Directorate of the Industries of a state or Union Territory. Consequently, the liability if any, of interest which would be payable under The interest on delayed payment to small scale and ancillary industries undertaking ordinance 1992" cannot be ascertained. However, the Company has not received any claims in respect of such interest.

Information in accordance with Accounting Standard 18 [AS 18] issued by The Institute Of Chartered Accountant of India on Related Parties Disclosures:

(I) Relationship

a) Name of the related parties 1. Jaipan Appliances

2. Hansa Motors Works

3. Jaipan C2C Co.

4. Jaipan Kitchen Appliances

5. Jaipan Teleshoppe Pvt. Ltd.

b) Individuals Controlling the Enterprises and Key Management Personnel.

1. Mr. Jai N. Agarwal Managing Director

2. Mr. Atin Agarwal Director

3. Neha J. Agarwal H R Manager