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A Oneindia Venture

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Notes to Accounts of Jayshree Chemicals Ltd.

Mar 31, 2025

j. Provision and Contingencies

A provision is recognised if as a result of past event the company has a present legal or constructive obligation
that is reasonably estimated and it is probable that an outflow of economic benefit will be required to settle
the obligation. Provisions are determined by discounting the expected cash flow at a pre-tax rate that reflects
current market assessments of the time value of the money and the risk specific to the liabilities.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company
or a present obligation that is not recognized because it is not probable that an outflow of resources will be
required to settle the obligation. The Company does not recognize a contingent liability but discloses its existÂ¬
ence in the financial statements, if material, are disclosed by way of notes to the accounts.

Contingent assets are not recognised in the financial statements, as they are dependent on the outcome of
legal or other processes.

k. Employee Benefits:

Expenses and liabilities in respect of employee benefit are recorded in accordance with Indian Accounting
Standard (IND AS 19 employees benefit)

(i) Short Term Employees Benefit

Short Term Employee Benefits (i.e. benefits falling due within one year after the end of the period in which
employees render the related service) are recognized as expenses in the period in which employee servicÂ¬
es are rendered as per the Company''s scheme based on expected obligations on undiscounted basis.

(ii) Post-Employment Benefit Plans

Under Defined Contribution Plan, the contribution is payable in keeping with the related schemes are
recognized as expenses for the year.

Under Defined Benefit Plan, the present value of the obligations is determined based on actuarial valuaÂ¬
tions using the Projected Unit Credit Method, on the basis of actuarial valuations carried out by actuary
at each Balance Sheet date. Actuarial gain /loss, if any,arising from experience adjustments and change
in actuarial assumptions are charged or credited to Other Comprehensive income in the period in which
they arise.

(iii) Other Long-Term Employee Benefits

Leave encashment/compensated absence is determined by valuations using the Projected Unit Credit
Method, on the basis of actuarial valuations carried out by actuary at each Balance Sheet date. Actuarial
gain /loss, if any, arising from experience adjustments and change in actuarial assumptions are charged
or credited to Other Comprehensive income in the period in which they arise.

l. Cash and Cash Equivalents

Cash and Cash equivalent in the balance sheet comprise cash at banks and on hand and short term deposits
with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of statement of cashflows, cash and cash equivalents consist of cash at banks and on hand and
short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral
part of Company''s Cash Management.

m. Dividend

Annual dividend distribution to the shareholders is recognised as a liability in the period in which the dividend
is approved by the shareholders. Dividend payable and corresponding tax on dividend distribution is recogÂ¬
nised directly in equity.

n. Earnings Per Share

Basic Earnings per equity shares are calculated by dividing the net profit or loss before OCI for the period attribÂ¬
utable to equity shareholders by the weighted average number of equity share outstanding during the year.

For calculating diluted earnings per share, the net profit or loss before OCI for the period attributable to equity
shareholders and the weighted average number of share outstanding during the period are adjusted for the
effect of all diluted potential equity shares.

o. Financial Instruments

(a) Financial Assets

Initial Recognition and Measurement

All financial Assets are recognised initially at fair value plus, in case of financial assets not recorded at fair
value through profit or loss, transaction cost that are attributable to the acquisition of the financial asset.

Subsequent measurement

(i) Financial Assets carried at amortised Cost- A Financial Assets is subsequently measured at amortised
cost, using effective interest rate (EIR) method, if it is held within a business model whose objective is
to hold the asset in order to collect contractual cash flows and the contractual terms of the financial
asset give rise on specified dates to cash flows that are solely payments of principal and interest term
on the principal amount outstanding.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The EIR amortisation is included in finance income in the
statement of profit or loss. The losses arising from impairment are recognised in the profit or loss.This
category generally applies to trade receivables, cash and bank balances, loans and other financial
assets of the company.

(ii) Financial Assets at fair value through other comprehensive income- A financial asset is subsequently
measured at fair value through other comprehensive income if it is held within a business model
whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on a specified date to cash flows that are
solely payments of principal and interest on the principal amount outstanding. The Company has
made an irrevocable election for its investment which are classified as equity instruments to present
the subsequent changes in fair value in other Comprehensive income based on its business model.,
Further in case where the company has made an irrecoverable election based on its business model
for its investments, which are classified as equity instrument the subsequent changes in fair value are
recognised in other comprehensive income.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on
the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts
from OCI to statement of profit and loss, even on sale of investment. However, the Company may
transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes
recognized in the statement of profit and loss.

(iii) Financial assets at fair value through profit or loss - A financial asset which is not classified in any of
the above categories are subsequently fair valued through profit or loss

(b) Financial Liabilities

Initial recognition and Measurement

Financial Liabilities are recognised at fair value on initial recognition and in case of loan and borrowing or
payables net of directly attributable transaction costs.

Subsequent Measurement

Financial Liabilities are subsequently carried at amortized cost using effective interest rate method. Gains
and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR
amortisation process. Amortised cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the EIR.The EIR amortisation is included as finance
costs in the statement of profit and loss.

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.

The company de-recognises the financial assets when contractual right to cash flow from financial assets
expire or it transfer the financial assets and transfer qualities for de-recognition under IND AS 109. A fiÂ¬
nancial liability or a part of a financial liability is de-recognised from the company''s Balance Sheet when
obligation specified in the contract is discharged or cancelled or expires.

(d) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if
there is a currently enforceable legal right to offset the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle the liabilities simultaneously.

p. Fair value financial instruments

The company measure financial instrument at fair value at each balance sheet date. Fair value is the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market particÂ¬
ipants at the measurement date.

In determining the fair value of its financial instruments, the company use various method and assumption
that are based on market conditions and risks existing at each reporting date.The methods used to determine
the fair value includes discounted cash flow analysis, available quoted market price and dealer quotes and valÂ¬
uation report etc. The method of assessing fair value results in general approximation of value and such value
may never actually be realised.

Fair Values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuaÂ¬
tion techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

When measuring the fair value of an asset or liability, the company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset ora liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

q. IncomeTax

The income tax expense or credit for the period is the tax payable on the current period''s taxable income based
on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities
attributable to temporary differences and to unused tax losses. The current income tax charge is calculated
on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the counÂ¬
tries where the Company operate and generate taxable income. Management periodically evaluates positions
taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It
establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between
the tax bases of assets and liabilities and their carrying amounts in the standalone financial statements. DeÂ¬
ferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted
by the end of the reporting period and are expected to apply when the related deferred income tax asset is
realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it is
probable that future taxable amounts will be available to utilise those temporary differences and losses. DeÂ¬
ferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets
and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and
tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on
a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised
in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity,
respectively.

r. New Standards / Amendments to Existing Standard issued but not yet effective upto the date of issuance

of the Company''s Financial Statement are disclosed below:

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31,
2025, MCA has not notified any new standards or amendments to the existing standards applicable to the
company.

The Company''s financial liabilities include Loan and borrowing, security deposits, retention money and Trade & other
payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s financial
assets include investments, trade & other receivables, deposits and cash & cash equivalents.

The Company''s overall risk management programme focuses on the unpredictability of financial markets and seeks
to minimize potential adverse effects on the Company''s financial performance. The Company uses derivative financial
instruments to hedge certain risk exposures. The Company does not acquire or issue derivative financial instruments for
trading or speculative purposes.

The Company''s activities expose it to Credit Risk, Liquidity Risk, Market Risk, and Equity Price Rise. The Company has
a Risk management policy and its management is supported by a Risk management committee that advises on risks
and the appropriate financial risk governance framework for the Company. The Risk management committee provides
assurance to the Company''s management that the Company''s risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies
and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are
summarised below.

A. Credit Risk-A risk that counterparty may not meet its obligations under a financial instrument or customer contract,
leading to a financial loss is defined as Credit Risk. The Company is exposed to credit risk from its operating and
financial activities.

Customercreditriskis managed by the respective marketing department subjecttotheCompany''sestablished policy,
procedures and control relating to customer credit risk management.The Company reviews the creditworthiness of
these customers on an on-going basis. The Company estimates the expected credit loss on the basis of past data,
experience and policy laid down in this respect. The maximum exposure to the credit risk at the reporting date is
the carrying value of the trade receivables disclosed in Note 9 (Nine) as the Company does not hold any collateral
as security. The Company has a practice to provide for doubtful debts as per its approved policy.

An impairment analysis is performed at each reporting date on an individual basis. The calculation is based on
historical data of credit losses.

The ageing analysis of the receivables (gross of provision) has been considered from the date the invoice falls due.

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use of
cash credits, Term loans among others.

C. Market Risk- A risk that the fair value of future cash flows of a financial instrument may fluctuate because of
changes in market prices is defined as Marketing Risk. Such changes in the value of financial instruments may result
from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

(i) Foreign Currency Risk- A risk that the fair value or future value of the cash flows of a forex exposure will
fluctuate because of changes in foreign exchange rates is defined as Foreign Currency Risk. The Company''s
exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s import and foreign
currency loan/ derivatives operating activities. The Company, as per its risk management policy, uses foreign
exchange and other derivative instruments primarily to hedge foreign exchange exposure. The management
monitors the foreign exchange fluctuations on a continuous basis.

Derivative instruments and un-hedged foreign currency exposure:

The Company does not enter into any derivative instruments for trading or speculative purposes.

(ii) Interest rate risk-The Company''s exposure to the risk of changes in market interest rates relates primarily to
long term debt. The Company is not exposed to such risk as on 31st March, 2025.

The Company''s objective when managing capital (defined as net debt and equity) is to safeguard the Company''s
ability to continue as a going concern in order to provide returns to shareholders and benefits for other stakeholders,
while protecting and strengthening the Balance Sheet through the appropriate balance of debt and equity funding.
The Company manages its capital structure and makes adjustments to it, in taking into consideration the economic
conditions and strategic objectives of the Company.

For the purpose of the Company''s capital management, capital includes issued capital, share premium and all other
equity reserves. Net debt includes, interest bearing loans and borrowings, trade and other payables less cash and short
term deposits.

In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to ensure
that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure
requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and
borrowings. There have been no breaches of the financial covenants of any interest bearing loans and borrowing for
reported periods.

a. The company has no immovable property whose title deeds are not held in the name of the company and it also
has no such immovable property which is jointly held with others,.

b. The Company has not revalued its Property, Plant and Equipment accordingly disclosure as to whether the
revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered
Valuers and Valuation) Rules, 2017 is not applicable to the Company.

c. 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, the company for the
financial year 2024-25.

d. The Company has taken borrowings from banks or financial institutions on the basis of security of current assets
(Term Deposits) during the financial year ended 31 03 2025.

e. The Company is not declared as willful defaulter by any bank or financial Institution or other lender.

f. The company has not entered into any transactions with companies which are struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956 during the financial year ended on 31 st March,2025.

g. The Company satisfied all the charges on the assets of the Company, except for Rs. 3.89 Lakhs for which whole
amounts of Rs. 3.89 Lakhs paid to the Charge Holder (Governor of Odisha) and the Company is having "No Objection
Certificate from the Charge Holder, the Company is pursuing the charge holder to file satisfaction of charge to
Registrar of Companies.

h. During the year Company has not advanced or loaned or invested funds (either borrowed funds or share premium
or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding (whether recorded in writing or otherwise) 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; the company.

i. During the year 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

(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 no such transaction which are not recorded in the books of accounts during the year and also
there are not such unrecorded income and related assets related to earlier years which have been recorded in the
books of account during the year.

k. The Company has not traded or invested in Crvoto currency or Virtual Currency durina the financial year

a. Previous year figures are regrouped and rearranged wherever necessary.

As per our Report of even date

For AMK & Associates Virendraa Bangur Rajesh Kumar Singhi

Chartered Accountan ts Director Executive Director & CFO

FRN:327817E (Din:00237043) (Din:01210804)

Bhupendra Kumar Bhutia

M. No. 059363 Puja Guin

Place: Kolkata Company Secretary

Date: 24th April 2025 ICSI Mem. No. ACS - 29481

Mar 31, 2024

j. Provision and Contingencies

A provision is recognised if as a result of past event the company has a present legal or constructive obliÂ¬
gation that is reasonably estimated and it is probable that an outflow of economic benefit will be required
to settle the obligation. Provisions are determined by discounting the expected cash flow at a pre-tax rate
that reflects current market assessments of the time value of the money and the risk specific to the liabiliÂ¬
ties.

A contingent liability is a possible obligation that arises from past events whose existence will be conÂ¬
firmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of
the Company or a present obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. The Company does not recognize a contingent liability
but discloses its existence in the financial statements, if material, are disclosed by way of notes to the acÂ¬
counts.

Contingent assets are not recognised in the financial statements, as they are dependent on the outcome
of legal or other processes.

k. Employee Benefits:

Expenses and liabilities in respect of employee benefit are recorded in accordance with Indian Accounting
Standard (IND AS 19 employees benefit)

(i) Short Term Employees Benefit

Short Term Employee Benefits (i.e. benefits falling due within one year after the end of the period
in which employees render the related service) are recognized as expenses in the period in which
employee services are rendered as per the Company''s scheme based on expected obligations on
undiscounted basis.

(ii) Post-Employment Benefit Plans

Under Defined Contribution Plan, the contribution is payable in keeping with the related schemes are
recognized as expenses for the year.

Under Defined Benefit Plan, the present value of the obligations is determined based on actuarial
valuations using the Projected Unit Credit Method, on the basis of actuarial valuations carried out by
actuary at each Balance Sheet date. Actuarial gain /loss, if any,arising from experience adjustments
and change in actuarial assumptions are charged or credited to Other Comprehensive income in the
period in which they arise.

(iii) Other Long-Term Employee Benefits

Leave encashment/compensated absence is determined by valuations using the Projected Unit CredÂ¬
it Method, on the basis of actuarial valuations carried out by actuary at each Balance Sheet date.
Actuarial gain /loss, if any, arising from experience adjustments and change in actuarial assumptions
are charged or credited to Other Comprehensive income in the period in which they arise.

l. Cash and Cash Equivalents

Cash and Cash equivalent in the balance sheet comprise cash at banks and on hand and shortterm deposÂ¬
its with an original maturity of three months or less, which are subject to an insignificant risk of changes in
value.

For the purpose of statement of cash flows, cash and cash equivalents consist of cash at banks and on hand
and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an
integral part of Company''s Cash Management.

m. Dividend

Annual dividend distribution to the shareholders is recognised as a liability in the period in which the divÂ¬
idend is approved by the shareholders. Dividend payable and corresponding tax on dividend distribution
is recognised directly in equity.

n. Earnings Per Share

Basic Earnings per equity shares are calculated by dividing the net profit or loss before OCI for the period
attributable to equity shareholders by the weighted average number of equity share outstanding during
the year.

For calculating diluted earnings per share, the net profit or loss before OCI for the period attributable to eqÂ¬
uity shareholders and the weighted average number of share outstanding during the period are adjusted
for the effect of all diluted potential equity shares.

o. Financial Instruments

(a) Financial Assets

Initial Recognition and Measurement

All financial Assets are recognised initially at fair value plus, in case of financial assets not recorded at

fair value through profit or loss, transaction cost that are attributable to the acquisition of the financial

asset.

Subsequent measurement

(i) Financial Assets carried at amortised Cost- A Financial Assets is subsequently measured at
amortised cost, using effective interest rate (EIR) method, if it is held within a business model
whose objective is to hold the asset in order to collect contractual cash flows and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest term on the principal amount outstanding.

Amortised cost is calculated by taking into account any discount or premium on acquisition and
fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance inÂ¬
come in the statement of profit or loss. The losses arising from impairment are recognised in the
profit or loss.This category generally applies to trade receivables, cash and bank balances, loans
and other financial assets of the company.

(ii) Financial Assets at fair value through other comprehensive income- A financial asset is subÂ¬
sequently measured at fair value through other comprehensive income if it is held within a busiÂ¬
ness model whose objective is achieved by both collecting contractual cash flows and selling fiÂ¬
nancial assets and the contractual terms of the financial asset give rise on a specified date to cash
flows that are solely payments of principal and interest on the principal amount outstanding.
The Company has made an irrevocable election for its investment which are classified as equity
instruments to present the subsequent changes in fair value in other Comprehensive income
based on its business model.. Further in case where the company has made an irrecoverable elecÂ¬
tion based on its business model for its investments, which are classified as equity instrument the
subsequent changes in fair value are recognised in other comprehensive income.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes
on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the
amounts from OCI to statement of profit and loss, even on sale of investment. However, the ComÂ¬
pany may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changÂ¬
es recognized in the statement of profit and loss.

(iii) Financial assets at fair value through profit or loss - A financial asset which is not classified in
any of the above categories are subsequently fair valued through profit or loss

(b) Financial Liabilities

Initial recognition and Measurement

Financial Liabilities are recognised at fair value on initial recognition and in case of loan and borrowÂ¬
ing or payables net of directly attributable transaction costs.

Subsequent Measurement

Financial Liabilities are subsequently carried at amortized cost using effective interest rate methÂ¬
od. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as
through the EIR amortisation process. Amortised cost is calculated by taking into account any disÂ¬
count or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortiÂ¬
sation is included as finance costs in the statement of profit and loss.

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.

The company de-recognises the financial assets when contractual right to cash flow from financial
assets expire or it transfer the financial assets and transfer qualities for de-recognition under IND AS
109. A financial liability or a part of a financial liability is de-recognised from the company''s Balance
Sheet when obligation specified in the contract is discharged or cancelled or expires.

(d) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset the recognised amounts and there is an intention
to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

p. Fair value financial instruments

The company measure financial instrument at fair value at each balance sheet date. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in an orderly transaction between marÂ¬
ket participants at the measurement date.

In determining the fair value of its financial instruments, the company use various method and assumpÂ¬
tion that are based on market conditions and risks existing at each reporting date. The methods used to
determine the fair value includes discounted cash flow analysis, available quoted market price and dealer
quotes and valuation report etc. The method of assessing fair value results in general approximation of
value and such value may never actually be realised.

Fair Values are categorized into different levels in a fair value hierarchy based on the inputs used in the
valuation techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs}

When measuring the fair value of an asset or liability, the company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset ora liability fall into different levels of the
fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the
fair value hierarchy as the lowest level input that is significant to the entire measurement.

q. Income Tax

The income tax expense or credit for the period is the tax payable on the current period''s taxable income
based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets
and liabilities attributable to temporary differences and to unused tax losses. The current income tax
charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reÂ¬
porting period in the countries where the Company operate and generate taxable income. Management
periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regÂ¬
ulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts exÂ¬
pected to be paid to the tax authorities. Deferred income tax is provided in full, using the liability method,
on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts
in the standalone financial statements. Deferred income tax is determined using tax rates (and laws) that
have been enacted or substantially enacted by the end of the reporting period and are expected to apply
when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it
is probable that future taxable amounts will be available to utilise those temporary differences and losses.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax
assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax
assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and
deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive
income or directly in equity, respectively.

r. New Standards / Amendments to Existing Standard issued but not yet effective upto the date of
issuance of the Company''s Financial Statement are disclosed below:

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards unÂ¬
der Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March
31,2024, MCA has not notified any new standards or amendments to the existing standards applicable to
the company.

HPursuant to the approval of the Scheme of Amalgamation ("Scheme"} vide order 25/04/2024 by the Hon''ble
National Company LawTribunal ("NCLT"), Kolkata Bench, the wholly-owned subsidiaries viz., East Coast Powers Ltd.
and Bangur Exim Pvt. Ltd. has been merged with the Company from the Appointed date of the Scheme which is
01/04/2023.The said scheme has been made effective from 04/05/2024. Consequently, the above mentioned wholly
owned subsidiaries of the Company stand dissolved without winding up.The NCLT also permitted to increase the
Authorised Equity Share Capital to 5,60,50,000 shares from 5,50,00,000 shares subject to approval from ROC, West
Bengal. The Company already filed Form INC-28 on 04/05/2024 with ROC, West Bengal for their approval.

Notes:

1. The Company has only one class of shares referred to as equity shares having a par value of ?10/-. Each holder of
equity shares is entitled to one vote per share.

2. 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 exist currently.The distribution will be in proportion to the number of shares held by the shareholders.

The Company''s financial liabilities include Loan and borrowing, security deposits, retention money and Trade & othÂ¬
er payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s
financial assets include investments, trade & other receivables, deposits and cash & cash equivalents.

The Company''s overall risk management programme focuses on the unpredictability of financial markets and seeks
to minimize potential adverse effects on the Company''s financial performance.The Company uses derivative finanÂ¬
cial instruments to hedge certain risk exposures. The Company does not acquire or issue derivative financial instruÂ¬
ments for trading or speculative purposes.

The Company''s activities expose it to Credit Risk, Liquidity Risk, Market Risk, and Equity Price Rise. The Company
has a Risk management policy and its management is supported by a Risk management committee that advises on
risks and the appropriate financial risk governance framework for the Company. The Risk management committee
provides assurance to the Company''s management that the Company''s risk activities are governed by appropriate
policies and procedures and thatfinancial risks are identified, measured and managed in accordance with the ComÂ¬
pany''s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these
risks, which are summarised below.

A. Credit Risk- A risk that counterparty may not meet its obligations under a financial instrument or customer
contract, leading to a financial loss is defined as Credit Risk. The Company is exposed to credit risk from its opÂ¬
erating and financial activities.

Customer credit risk is managed by the respective marketing department subject to the Company''s established
policy, procedures and control relating to customer credit risk management. The Company reviews the creditÂ¬
worthiness of these customers on an on-going basis. The Company estimates the expected credit loss on the
basis of past data, experience and policy laid down in this respect. The maximum exposure to the credit risk at
the reporting date is the carrying value of the trade receivables disclosed in Note 9 (Nine) as the Company does
not hold any collateral as security.The Company has a practice to provide for doubtful debts as per its approved
policy.

An impairment analysis is performed at each reporting date on an individual basis.The calculation is based on
historical data of credit losses.

The ageing analysis of the receivables (gross of provision) has been considered from the date the invoice falls
due.

B. Liquidity Risk- A risk that the Company may not be able to settle or meet its obligations at a reasonable price
is defined as liquidity risks. The Company''s treasury department is responsible for managing liquidity, funding
as well as settlement management. In addition, processes and policies related to such risks are overseen by
senior management. Management monitors the Company''s net liquidity position through rolling forecasts on
the basis of expected cash flows.

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use
of cash credits, Term loans among others.

C. Market Risk- A risk that the fair value of future cash flows of a financial instrument may fluctuate because of
changes in market prices is defined as Marketing Risk. Such changes in the value of financial instruments may
result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market
changes.

(i) Foreign Currency Risk- A risk that the fair value orfuture value of the cash flows of a forex exposure will
fluctuate because of changes in foreign exchange rates is defined as Foreign Currency Risk. The Company''s
exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s import and
foreign currency loan/ derivatives operating activities. The Company, as per its risk management policy,
uses foreign exchange and other derivative instruments primarily to hedge foreign exchange exposure.
The management monitors the foreign exchange fluctuations on a continuous basis.

Derivative instruments and un-hedged foreign currency exposure:

The Company does not enter into any derivative instruments for trading or speculative purposes.

(ii) Interest rate risk-The Company''s exposure to the risk of changes in market interest rates relates primarily
to long term debt. The Company is not exposed to such risk as on 31 st March, 2024.

The Company''s objective when managing capital (defined as net debt and equity) is to safeguard the Company''s
ability to continue as a going concern in order to provide returns to shareholders and benefits for other stakeholdÂ¬
ers, while protecting and strengthening the Balance Sheet through the appropriate balance of debt and equity
funding. The Company manages its capital structure and makes adjustments to it, in taking into consideration the
economic conditions and strategic objectives of the Company.

Forthe purpose of the Company''s capital management, capital includes issued capital, share premium and all other
equity reserves. Net debt includes, interest bearing loans and borrowings, trade and other payables less cash and
short term deposits.

In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to ensure
that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure
requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and
borrowings.There have been no breaches of the financial covenants of any interest bearing loans and borrowing for
reported periods.

Note No: 411| ADDITIONAL DISCLOSURES:

a. The company has no immovable property whose title deeds are not held in the name of the company and it
also has no such immovable property which is jointly held with others,.

b. The Company has not revalued its Property, Plant and Equipment accordingly disclosure as to whether the reÂ¬
valuation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered
Valuers and Valuation) Rules, 2017 is not applicable to the Company.

d. The Company has taken borrowings from banks or financial institutions on the basis of security of current assets
(Term Deposits) during the financial year ended 31.03.2024.

e. The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

f. The company has any not entered into any transactions with companies which are struck off under section
248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 during the financial year ended on 31st
March, 2024.

g. The Company satisfied all the charges on the assets of the Company, except for ? 3.89 Lakhs for which whole
amounts of? 3.89 Lakhs paid to the Charge Holder (Governor of Odisha) and the Company is having "No ObjecÂ¬
tion Certificate from the Charge Holder, the Company is pursuing the charge holder to file satisfaction of charge
to Registrar of Companies.

h. During the year Company has not advanced or loaned or invested funds (either borrowed funds or share preÂ¬
mium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding (whether recorded in writing or otherwise) 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; the company.

i. During the year 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

(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.

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

Note No: 43~|

The Hon''ble National Company Law Tribunal ("NCLT"), Kolkata Bench have by its order dated 25/04/2024 approved
the Scheme of Amalgamation ("Scheme") of its wholly-owned subsidiaries viz., East Coast Powers Ltd and Bangur
Exim Pvt. Ltd . The Appointed date of the Scheme is 01/04/2023. The said scheme has been made effective from
04/05/2024. Consequently, the above mentioned wholly owned subsidiaries of the Company stand dissolved
without winding up.

Since the amalgamated entities are under common control, the accounting of the said amalgamation has been
done by applying Pooling of Interest method as prescribed in Appendix C of Ind AS 103 ''Business Combinations''.
While applying Pooling of interest method, the Company has recorded all assets, liabilities and reserves attributable
to the wholly owned subsidiaries at their carrying values as appearing in the consolidated financial statements of
the Company. Consequently, the previous year figures have been restated considering that the amalgamation has
taken place from the beginning of the preceding period i.e. 01/04/2022 as required under AppendixC of Ind AS 103.

Note No: 441|

Previous year figures are regrouped and rearranged wherever necessary.

As per our report on even date

For AMK & Associates

Chartered Accountants

FRN: 327817E Virendraa Bangur Rajesh Kumar Singhi

Director Executive Director & CFO

Bhupendra Kumar Bhutia ( Din: 00237043) ( Din: 01210804)

Partner

M. No. 059363

Place: Kolkata Akash Ghuwalewala

Date: 16th May, 2024_Company Secretary_

Mar 31, 2023

j. Provision and Contingencies

A contingent liability is a possible obligation that arises from past events whose existence will be conÂ¬
firmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of
the Company or a present obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. The Company does not recognize a contingent liability
but discloses its existence in the financial statements. if material, are disclosed by way of notes to the acÂ¬
counts.

Contingent assets are not recognised in the financial statements, as they are dependent on the outcome
of legal or other processes.

k. Employee Benefits : Expenses and liabilities in respect of employee benefit are recorded in accordance
with Indian Accounting Standard (IND AS 19 employees benefit).

(i) Short Term Employees Benefit

(ii) Post-Employment Benefit Plans

Under Defined Contribution Plan, the contribution is payable in keeping with the related schemes are
recognized as expenses for the year.

Under Defined Benefit Plan, the present value of the obligations is determined based on actuarial valuaÂ¬
tions using the Projected Unit Credit Method, on the basis of actuarial valuations carried out by actuary
at each Balance Sheet date. Actuarial gain /loss, if any,arising from experience adjustments and change in
actuarial assumptions are charged or credited to Other Comprehensive income in the period in which they
arise.

(iii) Other Long-Term Employee Benefits

Leave encashment/compensated absence is determined by valuations using the Projected Unit Credit
Method, on the basis of actuarial valuations carried out by actuary at each Balance Sheet date. Actuarial
gain /loss, if any, arising from experience adjustments and change in actuarial assumptions are charged or
credited to Other Comprehensive income in the period in which they arise.

l. Cash and Cash Equivalents

Cash and Cash equivalent in the balance sheet comprise cash at banks and on hand and short term deposÂ¬
its with an original maturity of three months or less, which are subject to an insignificant risk of changes in
value.

For the purpose of statement of cash flows, cash and cash equivalents consist of cash at banks and on hand
and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an
integral part of Company''s Cash Management.

m. Dividend

n. Earnings Per Share

o. Financial Instruments

(a) Financial Assets

Initial Recognition and Measurement

All financial Assets are recognised initially at fair value plus, in case of financial assets not recorded at
fair value through profit or loss, transaction cost that are attributable to the acquisition of the financial
asset.

Subsequent measurement

(i) Financial Assets carried at amortised Cost- A Financial Assets is subsequently measured at
amortised cost, using effective interest rate (EIR) method, if it is held within a business model
whose objective is to hold the asset in order to collect contractual cash flows and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest term on the principal amount outstanding.

Amortised cost is calculated by taking into account any discount or premium on acquisition and
fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance inÂ¬
come in the statement of profit or loss. The losses arising from impairment are recognised in the
profit or loss. This category generally applies to trade receivables, cash and bank balances, loans
and other financial assets of the company.

(ii) Financial Assets at fair value through other comprehensive income- A financial asset is subÂ¬
sequently measured at fair value through other comprehensive income if it is held within a busiÂ¬
ness model whose objective is achieved by both collecting contractual cash flows and selling fiÂ¬
nancial assets and the contractual terms of the financial asset give rise on a specified date to cash
flows that are solely payments of principal and interest on the principal amount outstanding.
The Company has made an irrevocable election for its investment which are classified as equity
instruments to present the subsequent changes in fair value in other Comprehensive income
based on its business model., Further in case where the company has made an irrecoverable elecÂ¬
tion based on its business model for its investments, which are classified as equity instrument the
subsequent changes in fair value are recognised in other comprehensive income.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes
on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the
amounts from OCI to statement of profit and loss, even on sale of investment. However, the ComÂ¬
pany may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changÂ¬
es recognized in the statement of profit and loss.

(iii) Financial assets at fair value through profit or loss - A financial asset which is not classified in
any of the above categories are subsequently fair valued through profit or loss

(b) Financial Liabilities

Initial recognition and Measurement

Financial Liabilities are recognised at fair value on initial recognition and in case of loan and borrowÂ¬
ing or payables net of directly attributable transaction costs.

Subsequent Measurement

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.

The company de-recognises the financial assets when contractual right to cash flow from financial
assets expire or it transfer the financial assets and transfer qualities for de-recognition under IND AS
109. A financial liability or a part of a financial liability is de-recognised from the company''s Balance
Sheet when obligation specified in the contract is discharged or cancelled or expires.

(d) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset the recognised amounts and there is an intention
to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

p. Fair value financial instruments

The company measure financial instrument at fair value at each balance sheet date. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in an orderly transaction between marÂ¬
ket participants at the measurement date.

Fair Values are categorized into different levels in a fair value hierarchy based on the inputs used in the
valuation techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

When measuring the fair value of an asset or liability, the company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the
fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the
fair value hierarchy as the lowest level input that is significant to the entire measurement.

q. Income Tax

The income tax expense or credit for the period is the tax payable on the current period''s taxable income
based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets
and liabilities attributable to temporary differences and to unused tax losses. The current income tax
charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reÂ¬
porting period in the countries where the Company operate and generate taxable income. Management
periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regÂ¬
ulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts exÂ¬
pected to be paid to the tax authorities. Deferred income tax is provided in full, using the liability method,
on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts
in the standalone financial statements. Deferred income tax is determined using tax rates (and laws) that
have been enacted or substantially enacted by the end of the reporting period and are expected to apply
when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it
is probable that future taxable amounts will be available to utilise those temporary differences and losses.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax
assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax
assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and
deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive
income or directly in equity, respectively.

b) Note:

Segment assets and segment liabilities represent assets and liabilities of respective segment. Investments, tax
related assets/ liabilities and other assets and liabilities that cannot be allocated to a segment on reasonable
basis have been treated separately.

c) Information about Secondary Geographical Segments:

The Company has common property, plant and equipment located in India for producing/selling goods for
domestic markets. Therefore, the value of property, plant and equipment and additions thereto cannot be alÂ¬
located to the geographical segments. Hence, the total carrying amount of segment assets and cost incurred
during the period to acquire segment assets has not been given in respect of secondary segments.

The Company''s overall risk management programme focuses on the unpredictability of financial markets and seeks
to minimize potential adverse effects on the Company''s financial performance. The Company uses derivative finanÂ¬
cial instruments to hedge certain risk exposures. The Company does not acquire or issue derivative financial instruÂ¬
ments for trading or speculative purposes.

The Company''s activities expose it to Credit Risk, Liquidity Risk, Market Risk, and Equity Price Rise. The Company
has a Risk management policy and its management is supported by a Risk management committee that advises on
risks and the appropriate financial risk governance framework for the Company. The Risk management committee
provides assurance to the Company''s management that the Company''s risk activities are governed by appropriate
policies and procedures and that financial risks are identified, measured and managed in accordance with the ComÂ¬
pany''s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these
risks, which are summarised below.

A. Credit Risk- A risk that counterparty may not meet its obligations under a financial instrument or customer
contract, leading to a financial loss is defined as Credit Risk. The Company is exposed to credit risk from its opÂ¬
erating and financial activities.

Customer credit risk is managed by the respective marketing department subject to the Company''s established
policy, procedures and control relating to customer credit risk management. The Company reviews the creditÂ¬
worthiness of these customers on an on-going basis. The Company estimates the expected credit loss on the
basis of past data, experience and policy laid down in this respect. The maximum exposure to the credit risk at
the reporting date is the carrying value of the trade receivables disclosed in Note 9 (Nine) as the Company does
not hold any collateral as security. The Company has a practice to provide for doubtful debts as per its approved
policy.

An impairment analysis is performed at each reporting date on an individual basis. The calculation is based on
historical data of credit losses.

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use
of cash credits, Term loans among others.

C. Market Risk- A risk that the fair value of future cash flows of a financial instrument may fluctuate because of
changes in market prices is defined as Marketing Risk. Such changes in the value of financial instruments may
result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market
changes.

(i) Foreign Currency Risk- A risk that the fair value or future value of the cash flows of a forex exposure will
fluctuate because of changes in foreign exchange rates is defined as Foreign Currency Risk. The Company''s
exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s import and
foreign currency loan/ derivatives operating activities. The Company, as per its risk management policy,
uses foreign exchange and other derivative instruments primarily to hedge foreign exchange exposure.
The management monitors the foreign exchange fluctuations on a continuous basis.

Derivative instruments and un-hedged foreign currency exposure:

The Company does not enter into any derivative instruments for trading or speculative purposes.

(ii) Interest rate risk-The Company''s exposure to the risk of changes in market interest rates relates primarily to
long term debt. The Company is not exposed to such risk as on 31st March, 2023.

The Company''s objective when managing capital (defined as net debt and equity) is to safeguard the Company''s
ability to continue as a going concern in order to provide returns to shareholders and benefits for other stakeholdÂ¬
ers, while protecting and strengthening the Balance Sheet through the appropriate balance of debt and equity
funding. The Company manages its capital structure and makes adjustments to it, in taking into consideration the
economic conditions and strategic objectives of the Company.

Note No: 411| ADDITIONAL DISCLOSURES:

a. The company has no immovable property whose title deeds are not held in the name of the company and it
also has no such immovable property which is jointly held with others,.

d. The Company has not taken any borrowings from banks or financial institutions on the basis of security of curÂ¬
rent assets during the financial year ended 31 03 2023.

e. The Company is not declared as willful defaulter by any bank or financial Institution or other lender.

f. The company has not entered into any transactions with companies which are struck off under section 248 of
the Companies Act, 2013 or section 560 of Companies Act, 1956 during the financial year ended on 31st March,
2023.

g. The Company satisfied all the charges on the assets of the Company, except for Rs. 3.89 Lakhs for which whole
amounts of Rs. 3.89 Lakhs paid to the Charge Holder (Governor of Odisha) and the Company is having "No
Objection Certificate from the Charge Holder, the Company is pursuing the charge holder to file satisfaction of
charge to Registrar of Companies.

(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; the company.

i. During the year Company has not received any fund from any person(s) or entity(ies), including forÂ¬
eign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that
the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoÂ¬
ever 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.

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

Note No: 43

Previous year figures are regrouped and rearranged wherever necessary.

In terms of our report on even date

For AMK & Associates

Chartered Accountants

FRN: 327817E Krishna Kumar Kothari Rajesh Kumar Singhi

Director Director (Commercial) & CFO

(Din: 00233174) (Din: 01210804)

Bhupendra Kumar Bhutia

Partner

M. No. 059363

Place: Kolkata Akash Ghuwalewala

Date: 15th May, 2023 Company Secretary

Mar 31, 2016

NOTES :

1. The Company has only one class of shares referred to as equity shares having a par value of '' 10/-. Each holder of equity shares is entitled to one vote per share.

2. 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 exist currently. The distribution will be in proportion to the number of shares held by the shareholders.

3. Details of Share holders holding more than 5% of total shares as on 31st March, 2016

Notes :

Disclosure pertaining to Micro, Small and Medium Enterprises (as per information available with the Company : Principal amount Outstanding as at 31st March, 2016 '' NIL, ('' 2,12,740/-)

Derivative Instruments :

i. The Company uses foreign currency forward contracts to hedge risk associated with foreign currency fluctuations. The Company does not use forward contracts for speculative purposes.

Outstanding Forward Contracts entered into by the Company on account of payables:

1. RELATED PARTY DISCLOSURE :

Name of the related party Relationship

A. Name of the related party with whom the Company has transactions during the year

East Coast Powers Limited Subsidiary

The West Coast Paper Mills Ltd Control of KMP

Shree Ram Trust Control of KMP

Orbit Udyog Pvt. Ltd. Control of KMP

B.N. Kapur Pvt Ltd Control of KMP

The Thirumbadi Rubber Co. Ltd. Control of KMP

Crossley & Towers Pvt.Ltd Control of KMP

Shree Satyanarayan Investments Co. Ltd Control of KMP

The Diamond Company Ltd Control of KMP

Sri Girija Prasanna Cotton Mills Ltd . Control of KMP

The Indra Company Ltd. Control of KMP

Veer Enterprises Ltd. Control of KMP

Akhivi Tea Plantations & Agro Ind. Ltd. Control of KMP

Gold Mohore Investments Co. Ltd. Control of KMP

Saumya Trade & Fiscal Services (P) Ltd. Control of KMP

Shree Kumar Bangur Chairman

Virendraa Bangur Managing Director

P N Ojha Executive Director P K Gupta Chief Financial Officer

S K Lahoti Company Secretary

Shashi Devi Bangur Relative of KMP

Bharati Bangur - Executive (Corporate Affairs) Relative of KMP

The estimates of future salary increase, considered in actuarial valuation, take into account of inflation, seniority, promotion and

relevant factor, such as demand supply in the employment market.

2. As per Section 135 of the Companies Act, 2013, a CSR committee has been formed by the Company. The average net profit of the Company made during the three immediately financial years, as calculated under the provision of section 198 of the Companies Act, 2013, is negative, therefore no amount has been earmarked for the purpose of Corporate Social Responsibilities.

3 The Board has approved in their meeting held on 8th September, 2014 sale of the Company''s Chloro Alkali Manufacturing Facility at Ganjam in Odisha and Salt Manufacturing Facility at Pundi in Andhra Pradesh "on as is where is basis" on a slump sale basis as a going concern to Aditya Birla Chemical (India) Ltd (ABCIL) at a lump sum consideration of '' 212 Crores. The Company has finally handed over its Chloro Alkali Manufacturing Facility at Ganjam, Orissa and Salt Manufcaturing Facility at Pundi in Andhra Pradesh to ABCIL on 21st September, 2015.

4 Basis of calculation of Basic and Diluted Earnings Per Share is as under :

5 Current yearâs figures are not comparable as the Company has sold Chloro Alkali Manufacturing Facility at Ganjam, along with Salt Fields on slump sale basis on "as is where is basis" on 21/09/2015 to Aditya Birla Chemicals (India) Limited.

6 Figures in bracket represent amount related to previous year.

7 Previous year''s figures have been rearranged / regrouped wherever necessary.

Mar 31, 2015

1. SHARE CAPITAL

1. The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share.

2. 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 exist currently. The distribution will be in proportion to the number of shares held by the shareholders.

2. Nature of Security

For Modernisation cum Expansion Project : Secured by first pari-passu charge inter-se by way of hypothection of machinery and other fixed assets acquired or to be acquired out of the Term Loans from State Bank of Bikaner And Jaipur, State Bank of India and Indian Overseas Bank, the Term Lenders, and equitable mortgage of all the piece and parcel of factory land and other land aggregating to 140.80 Acres (lease hold land measuring about 107.41 Acres and free hold land measuring about 33.39 Acres) (excluding Wind Mill Land and Wind Mill receivables) situated at Ganjam District, Kalyanpur, Kanchipur, Jarapadar at Jayshree Nagar where the Company's registered office is located together with all buildings and structures, plant & machineries erected thereon, both present and future, and second charge on the current assets of the Company.

Out of total land of 140.80 Acres leasehold land measuring 42.79 Acres is presently mortgaged with the Government of Odisha. The Company is to create equitable mortgage thereon in favour of Banks on release of charge by Government of Odisha. At present FDR of Rs. 10.86 lacs equivalent to amount of dues of Government of Odisha are held under lien with State Bank of Bikaner and Jaipur, and a mortgage on land purchased from OSFC measuring 2.40 Acres is to be created.

For Wind Mill Project : Exclusively secured by first pari-passu charge by way of hypothecation on the whole movable fixed assets purchased/to be purchased out of the term loans for the wind mill project at Bogampatti Village, Sulur Taluk, Tirupur, Coimbatore and Wind Mill receivables in favour of State Bank of Bikaner And Jaipur (SBBJ) and Indian Overseas Bank (IOB) and second charge on the current assets ranking pari-passu with other term lenders and to be further secured by equitable mortgage of Wind Mill project land measuring 2 Acres in favour of SBBJ and IOB on pari-passu basis.

3. CONTINGENT LIABILITIES AND COMMITMENTS

a. Contingent Liabilities

Claims against the Company not Acknowledge as Debt (Net of deposit)

i) Sales Tax Demand under Appeals 82,51,465 45,98,885

ii) Income Tax Demand under Appeals - 2,23,629

iii) Others 5,95,92,288 5,01,15,126

6,78,43,753 5,49,37,640

Guarantees 4,31,31,109 8,32,08,582

11,09,74,862 13,81,46,222

b. Commitments

Outstanding Estimated Capital Commitment (Net of Advances) 20,46,600 12,22,539

Other commitment :

Derivative Instruments :

i. The Company uses foreign currency forward contracts to hedge risk associated with foreign currency fluctuations. The Company does not use forward contracts for speculative purposes.

Outstanding Forward Contracts entered into by the Company on account of payables :

Loan Payable

As at No. of Contracts US Dollar INR Equivalent

31.03.2015 2 37,41,000 22,48,39,327

31.03.2014 2 47,62,500 28,18,59,698

ii. The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below :

Amount Payable in Foreign currency on account of the following :

Loan Payable

As at No. of Contracts US Dollar INR Equivalent

31.03.2015 Â Â Â

31.03.2014 1 4,34,000 2,60,82,521

4. SEGMENT REPORTING

The company has no reportable business segment as per AS-17 "Segment Reporting" as it mainly deals into the business of chemicals only.

The Company caters mainly to the needs of domestic market. There is no export turnover during the year, as such there are no reportable Geographical segments.

5. RELATED PARTY DISCLOSURE :

Name of the related party Relationship

A. Name of the related party with whom the Company has transactions during the year

East Coast Powers Limited Subsidiary

The West Coast Paper Mills Ltd Control of KMP

Shree Ram Trust Control of KMP

Orbit Udyog Pvt. Ltd. Control of KMP

B.N. Kapur Pvt Ltd Control of KMP

The Thirumbadi Rubber Co. Ltd. Control of KMP

Crossley & Towers Pvt.Ltd Control of KMP

Shree Satyanarayan Investments Co. Ltd Control of KMP

The Diamond Company Ltd Control of KMP

Sri Girija Prasanna Cotton Mills Ltd . Control of KMP

The Indra Company Ltd. Control of KMP

Veer Enterprises Ltd. Control of KMP

Akhivi Tea Plantations & Agro Ind. Ltd. Control of KMP

Gold Mohore Investments Co. Ltd. Control of KMP

Saumya Trade & Fiscal Services (P) Ltd. Control of KMP

Shree Kumar Bangur Chairman

Virendraa Bangur Managing Director

P N Ojha Executive Director

P K Gupta Chief Financial Officer

R K Gupta Company Secretary

Shashi Devi Bangur Relative of KMP

Bharti Bangur - Executive (Corporate Relative of KMP Affairs)

5. As per Section 135 of the Companies Act, 2013, a CSR committee has been formed by the company. The average net profit of the Company made during the three immediately financial years, as calculated under the provision of section 198 of the Companies Act, 2013, is negative, therefore no amount has been earmarked for the purpose of Corporate Social Responsibilities.

6. The Board has approved in their meeting held on 8th September, 2014 sale of the Company's Chloro Alkali Manufacturing facility at Ganjam in Orissa and Salt manufcaturing facility at Pundi in Andhra Pradesh on "as is basis" on a slump sale as a going concern to Aditya Birla Chemicals (India) Ltd (ABCIL) at a lump sum consideration of ' 212 crores.The Company is under process to finalise the closing date for hand over.

7. The Company has recognised Rs. 1,48,33,755/- towards insurance claim receivables against loss of raw-materials and equipments as exceptional item.

8. Figures in bracket represent amount related to previous year.

9. Previous year's figures have been rearranged / regrouped wherever necessary. Signatures to Note Nos. 1 and 2.

Mar 31, 2014

1.1 SEGMENT REPORTING

The company has no reportable business segment as per AS-17 "Segment Reporting" as it mainly deals into the business of chemicals only.

The Company caters mainly to the needs of domestic market. There is no export turnover during the year, as such there are no reportable Geographical segments.

1.2 The exceptional items represents losses of raw materials because of cyclone-Phailin and flood.

1.3 The Company has lost production because of shutdown of plant due to cyclone-Phailin, flood and break down of transformer due to after effect of cyclone.

1.4 Figures in bracket represent amount related to previous year.

1.5 Previous year''s figures have been rearranged / regrouped wherever necessary.

Mar 31, 2013

(Amounting

Year ended PartlCarS 31/03/2012

1.1 CONTINGENT LIABILITIES AND COMMITMENTS

a. Contingent Liabilities

Claims against the Company not acknowledged as Debt (Net of Deposit)

i) Sales Tax Demand under Appeals 45,98,885 45,98,885

ii) Income Tax Demand under Appeals 2,23,629 2,23,629

iii) Others 3,38,63,924 3,05,91,802

3,86,86,438 3,54,14,316

Guarantees 7,57,51,089 5,40,34,790

11,44,37,527 8,94,49,106

b. Commitments

Outstanding Estimated Capital Commitment (Net of Advances) 1,36,67,483 67,83,451

1.2 Figures in bracket represent amount related to previous year.

1.3 Previous year''s figures have been re-arranged/re-grouped wherever necessary.

Mar 31, 2012

Notes:

1. The Company has only one class of shares referred to as equity shares having a par value of Rs 10/-. Each holder of equity shares is entitled to one vote per share.

2. 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 exist currently. The distribution will be in proportion to the number of shares held by the shareholders.

Notes:

Terms of Repayment

Outstanding Rupee Term Loan availed for Wind Mill is repayable in 16 quarterly instalments ofRs 18,75,000/- each. Outstanding Rupee/FCNR(B) Term Loans are repayable in 22 quarterly instalments of Rs 3,75,00,000/- each.

Outstanding Rupee Corporate Loan is repayable in 12 monthly instalments ofRs 25,00,000/- each.

Nature of Security

For Government of Odisha - Subsidised Housing Scheme :

Secured by legal mortgage upon the Company's Leasehold Land measuring 42.79 Acres and Buildings and Structures constructed thereon.

For Modernisation cum Expansion Project:

Secured by first pari-passu charge inter-se by way of hypothection of machinery and other fixed assets acquired or to be acquired out of the Term Loans from State Bank of Bikaner and Jaipur, State Bank of India and Indian Overseas Bank, the Term Lenders, and equitable mortgage of all the piece and parcel of factory land and other land aggregating to 140.80 Acres (lease hold land measuring about 107.41 Acres and free hold land measuring about 33.39 Acres) (excluding Wind Mill Land and Wind Mill receivables) situated at Ganjam District, Kalyanpur, Kanchipur, Jarapadar at Jayshree Nagar where the Company's registered office is located together with all buildings and structures, plant & machineries erected thereon, both present and future, and second charge on the current assets of the Company.

Out of total land of 140.80 Acres leasehold land measuring 42.79 Acres is presently mortgaged with the Government of Odisha. The Company is to create equitable mortgage thereon in favour of Banks on release of charge by Government of Odisha. At present FDR of Rs 10.86 Lacs equivalent to amount of dues of Government of Odisha are held under lien with State Bank of Bikaner and Jaipur, and a mortgage on land purchased from OSFC measuring 2.40 Acres is to be created.

Notes:

Cost of Materials Consumed Includes employee benefits expenses Rs 28,42,736/- (Rs 28,23,633/-), Power & Fuel Rs 8,87,02ÃÂ£/- (Rs 6,14,090/-), Repairs & Maintance Rs 17,14,183/- (Rs 21,85,922/-), Insurance Rs 7,351/- (Rs 7,530/-) and Rates & Taxes Rs 2,58,627/-(Rs 2,27,179/-).

1.1 CONTINGENT LIABILITIES AND COMMITMENTS

a. Contingent Liabilities

Claims against the Company not acknowledged as Debt (net of deposit)

i) Sales Tax Demand under Appeals 45,98,885 47,95,651

ii) Income Tax Demand under Appeals 2,23,629 34,44,730

iii) Others 3,05,91,802 2,29,93,751

3,54,14,316 3,12,34,132

Guarantees 5,40,34,790 1,23,04,216

8,94,49,106 4,35,38,348

b. Commitments

Outstanding Estimated Capital Commitment (Net of Advances) 67,83,451 82,46,93,774

Other commitment:

Derivative Instruments:

a. The Company uses foreign currency forward contracts to hedge risk associated with foreign currency fluctuations. The Company does not use forward contracts for speculative purposes.

1.2 The Company has changed its accounting policy on valuation of finished goods from FIFO method to Weighted Average method. However, the change of method in valuation has no material impact on the financial results.

1.3 The corresponding figures of the previous financial year are not comparable with those of the current financial year, as the Company has commenced Commercial Production of 152 MTPD Membrane Cell Technology based Plant from 1st April, 2011 whereas the capacity of Mercury Cell based Plant was 65 MTPD.

1.4 Figures in bracket represent amount related to previous year.

1.5 Previous year's figures have been re-arranged/re-grouped wherever necessary.

Mar 31, 2011

1.Outstanding Capital Commitments (Net of Advance) are estimated at Rs 1,08,05,930/- (Rs 82,46,93,774/-).

31st March, 31st March, 2011 2010 Rs Rs 2. Contingent Liabilities not provided for:

(a) Claims against the Company not acknowledged as Debts (Net of deposit) -

i)Sales Tax Demand 47,95,651 43,24,958 under Appeals

ii)Income Tax Demand 34,44,730 - under Appeals

iii) Others(including 2,29,93,751 1,68,83,578 Excise Duty under appeals)

(b) Guarantees 1,23,04,216 1,99,18,493

* Includes payments to and provision for employees Rs 28,23,633/- (Rs 26,55,153/-), Power & Fuel Rs 6,14,090/- [Rs6,57,405/-), Repairs & Maintenance Rs 21,85,922/- (Rs 13,28,212/-), Insurance Rs 7,530/- (Rs 6,984/-) and Rates & TaxesRs 2,27,179/- (Rs 2,56,250/-).

** Includes Rs 6,20,04,274/- transferred to Pre-operative Expenses.

3. Depreciation has been computed on straight line method under Section 205 (2) (b) of the Companies Act, 1956 except on (i) Furniture & Fittings (ii) Motor Cars & Vehicles (iii) Laboratory Equipments (iv) Railway Siding (v) Weighing Machines and (vi) Fire Extinguishers which are depreciated on written down value basis under Section 205 (2) (a) of the Companies Act, 1956.

4. Disclosure pertaining to Micro, Small and Medium Enterprises (as per information available with the Company: Principal amount Outstanding as at 31st March, 2011 Rs 1,89,605/- (Rs 7,95,829/-).

5.Segment Reporting:

The Company caters mainly to the needs of domestic market. There is no export turnover during the year, as such there are no reportable Geographical segments.

6. There is no impairment of Assets during the year and, therefore no adjustment has been made thereof.

7. The following table summarises net benefit expenses recognized in the profit & loss account and funded status and amounts recognised in the balancesheet for Gratuity and Leave Encashment Liability:

The estimates of future salary increase, considered in actuarial valuation take into account of inflation, seniority, promotion and relevant factor, such as demand supply in the employment market.

8.Details of Security given under Secured Loan :

Against Cash Credit -

Secured by hypothecation of stocks of Raw Materials, Stores, Finished Products,Stock-in-Process and book-debts by way of first charge and also equitable mortgage by way of first charge on pari-passu basis with other term lenders on immovable properties of factory land and other land aggregating to 141.46 acres at Ganjam Dist. together with all buildings and structures thereon and all Plant & Machineries attached to the earth or permanently fastened to anything attached to the earth.

Against Modernisation cum expansion project -

Secured by pari-passu charge inter-se by way of hypothecation of machinery and other fixed assets acquired or to be acquired out of the Term Loan and equitable mortgage of factory land and other lands aggregating 141.46 acres at Ganjam Dist. Kalyanpur, Kanchipur, Jarapadar on pari-passu basis and pari-passu second charge over the current assets.

Against Wind-Mill -

Secured by first pari-passu charge by way of hypothecation on the whole movable fixed assets purchased/to be purchased out of the term loan for the Wind Mill project at Bogampatti Village, Sulur Taluk, Tirupur Coimbatore and Wind Mill receivables and second charge on the current assets ranking pari-passu with other term lenders and to be further secured by equitable mortgage of Wind - Mill project land measuring 2 acres.

Security Given under Secured Loans -

The Housing Department, Government of Orissa is not in existence. Accordingly, dues against the Housing loan could not be repaid. The Company has made a Fixed Deposit of Rs 10.00 Lacs with S.B.B.J. Kolkata, which is held under lien by them to be utilised for repayment of dues of the Housing Department, Government of Orissa. On release of charge by Government of Orissa on Land measuring 42.79 acres, the same shall be mortgaged to Term Lenders and Cash Credit Lenders by way of first charge.

9. Derivative Instruments:

a) The Company uses foreign currency forward contracts to hedge risk associated with foreign currency fluctuations. The Company does not use forward contracts for speculative purposes.

10.The Company has closed down the existing Mercury Cell based Caustic Soda Plant on 29/12/2010 and on the same day commenced trial run of the Membrane Cell Technology based new Plant, which was successfully completed on 31/03/2011, hence financial statements of the year are not comparable with the corresponding previous year's figures.

11.Other Income includes Rs 834.96 Lacs on account of used mercury sold during the year derived from the old Mercury Cell based caustic soda Plant.

12.Figures in bracket represent amount related to previous year.

13.Previous year's figures have been rearranged/regrouped wherever necessary.

Mar 31, 2010

1. Outstanding Capital Commitments (Net of Advances) are estimated at Rs. 82,46,93,774/- (Rs. 28,73,95,000/-).

Particulars 31st March, 2010 31st March, 2009 Rs. Rs.

2. Contingent Liabilities not provided for:

(a) Claims against the Company not acknowledged as Debts (Net of Deposit)

Sales Tax Demand under Appeals 43,24,958 23,24,990

Income Tax Demand under Appeals - 50,39,888

Others (including Excise Duty under Appeals) 1,68,83,578 36,24,364

(b) Guarantees 1,99,18,493 15,93,768

3. Depreciation has been computed on Straight Line Method under Section 205 (2)(b) of the Companies Act, 1956, except on (i) Furniture & Fittings (ii) Motor Cars & Vehicles (iii) Laboratory Equipments (iv) Railway Siding (v) Weighing Machines and (vi) Fire Extinguishers which are depreciated on written down value basis under Section 205 (2)(a) of the Companies Act, 1956.

4. Disclosure pertaining to Micro, Small and Medium Enterprises (as per information available with the Company : Principal amount Outstanding as at 31st March, 2010, Rs. 7,95,829/- (Rs. 6,90,867/-).

5. Segment Reporting

Business segment is primary segment of the Company and comprises chemicals business and wind mill power generation. Wind mill base power generation has come into operation with effect from 30.09.2009

6. Right Issue expenses includes Auditors Remuneration Rs. 75,000/-.

7. There is no impairment of Assets during the year and, therefore no adjustment has been made thereof.

8 Related Party Disclosure

A) Name of the related party with whom the Company has transactions during the year:

Name of the related party Relationship

East Coast Powers Limited Subsidiary

The West Coast Paper Mills Ltd. Control of KMP

Shree Ram Trust Control of KMP

Fort Gloster Industries Ltd. Control of KMP

D. K. Maheshwari Executive Director

Bharti Bangur - Executive (Corporate Affairs) Relative of KMP Note: KMP means Key Managerial Personnel

9. Unutilised money raised through rights issue has been kept in current account with scheduled banks.

10. Details of security given under Secured Loan

Against Cash Credit -

Secured by hypothecation of stocks of Raw Materials, Stores, Finished Products, Stock-in-Process and Book Debts by way of first charge and also equitable mortgage byway of first charge on pari-passu basis with other term lenders on immovable properties of factory land and other land aggregating to 141.46 acres at Ganjam Dist. together with all Buildings and Structures thereon and all Plant & Machineries attached to the earth or permanently fastened to anything attached to the earth.

Against Modernisation cum Expansion Project -

Secured by pari-passu charge inter-se by way of hypothecation of machinery and other fixed assets acquired or to be acquired out of the Term Loan and equitable mortgage of factory land and other lands aggregating141.46 acres at Ganjam Dist. Kalyanpur, Kanchipur, Jarapadar on pari-passu basis and pari-passu second charge over the current assets.

Against Wind Mill -

Secured by first pari-passu charge by way of hypothecation on the whole movable fixed assets purchased/to be purchased out of the term loan for the Wind Mill project at Bogampatti Village, Sulur Taluk, Tirupur Coimbatore and Wind Mill receivables and second charge on the current assets ranking pari-passu with other term lenders and to be further secured by equitable mortgage of Wind-mill project land measuring 2 acres.

11. Figures in bracket represent amount related to previous year.

12. Previous years figures have been re-arranged/re-grouped wherever necessary.

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