Notes to Accounts of Kabra Extrusion Technik Ltd.

Mar 31, 2025

34.2 Fair value hierarchy

Financial assets and liabilities include cash and cash equivalents, other balances with banks, trade receivables, loans, other financial assets, trade payables and other financial liabilities whose fair values approximate their carrying amounts largely due to the short term nature of such assets and liabilities.

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three Levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Hierarchy includes financial instruments measured using quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2: Hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets in markets that are not active.

Level 3: Unobservable inputs for the asset or liability.

Fair value of financial assets and financial liabilities measured at amortised cost :

The management believes that the fair values of non-current financial assets (e.g. loans and others), current financial assets (e.g., cash and cash equivalents, trade receivables, loans and others excluding other derivative assets) and current financial liabilities (e.g. trade payables and other payables excluding derivative liabilities) approximate their carrying amounts.

The Company has not performed fair valuation of its investment in unquoted equity shares as mentioned in note no. 3 which are classified as FVTOCI, as the Company believes that impact of change on account of fair value is insignificant.

34.3 Financial risk management

The Company''s activities exposes it to market risks, credit risks and liquidity risks. In order to minimise any adverse effets on the financial performance of the Company, derivative financial instruments such as forward foreign exchange contract are entered to hedge the foreign currency risk exposures. Derivatives are used exclusively for hedging purposes and not as a trading or speculative purposes.

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

a. Credit risk

Credit risk is the risk of financial losses to the Company if a customer or counterparty to financial instruments fails to discharge its contractual obligations. It arises primarily from the Company''s receivables from customers. To manage this, the Company periodically assesses the key accounts receivable balances. As per Ind-AS 109 : Financial Instruments, the Company uses expected credit loss model to assess the impairment loss or gain.

The carrying amount of trade and other receivables and other financial assets represents the maximum credit exposure. i. Trade receivables

The management has established accounts receivable policy under which customer accounts are regularly monitored. The Company has a dedicated sales team which is responsible for collecting dues from the customer within stipulated period. The management reviews status of critical accounts on a regular basis.

An impairment analysis is performed at each reporting date on consolidated basis for similar category of customer. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

ii. Financial instruments and Cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Company monitors rating, credit spreads and financial strength of its counter parties. Based on ongoing assessment Company adjust it''s exposure to various counterparties.

b. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company has a view of maintaining liquidity and to take minimum possible risk while making investments. In order to maintain liquidity, the Company invests its excess funds in short term liquid assets like liquid mutual funds. The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its financial liabilities.

c. Market risk

"Market risk is a risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. Market risk comprises three types of risk interest rate risk, currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include borrowings, trade and other payables, foreign exchange forward contracts, security deposit, trade and other receivables, deposits with banks.

i. Foreign currency risk

Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rate. Company transacts business in its functional currency (INR) and in other foreign currencies. The Company''s exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s operating activities, where revenue or expense is denominated in a foreign currency. The Company manages its foreign currency risk by hedging foreign currency payables using foreign currency forward contracts or foreign currency options, principal only swaps etc. The Company negotiates the terms of those foreign currency

The Company''s capital includes issued Equity Capital, Share Premium and Free Reserves.

The Company''s policy is to meet the financial covenants attached to the interest-bearing borrowings by maintaining a strong capital base. The Company aims to sustain investor, creditor and market confidence so as to leverage such confidence for future capital/debt requirements.

Management monitors the return on capital earned, the capital/debt requirements for various business plans under consideration and determines the level of dividends to equity shareholders.

No changes were made in the objectives, policies or processes for managing capital during the financial years ended on 31 March 2025 and 31 March 2024.

36 Disclosure as per the requirement of section 22 of the Micro, Small and Medium Enterprise Development Act, 2006:

Details of amounts outstanding to Micro and Small Enterprises as defined under the MSMED Act, 2006:

There are no material dues owed by the Company to Micro and Small enterprises, which are outstanding for more than 45 days during the year and as at 31 March 2023. This information as required under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

37 Details of employee benefits as required by Ind-AS 19 - "Employee benefits are as under":1 Defined contribution plan - Provident fund and other fund

The Company makes contribution towards employees'' provident fund and employees'' state insurance plan scheme. Under the schemes, the Company is required to contribute a specified percentage of payroll cost, as specified in the rules of the schemes, to these defined contribution schemes.

The company has done contribution in Superannuation Scheme and National Pension Scheme. The company has

no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expenses when they are due.

An amount of Rs 278.73 lakhs (31st March 2024: 182.47 lakhs) is recognised as an expense and included in "Employee Benefit Expense" in the Statement of Profit and Loss Account.

Note:

The above amount includes the share of employer only.

2 Defined benefit plan

(i) The defined benefit plan comprises gratuity, which is funded.

(ii) The company has a defined benefit gratuity plan The gratuity scheme of a company is covered under a group gratuity cum life assurance cash accumulation policy offered by LIC of India

Actuarial gains and losses in respect of defined benefit plans are recognized in the Other Comprehensive Income (OCI).

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Gratuity is a benefit to an employee in India based on 15 days last drawn salary for each completed year of service with a vesting period of five years.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

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

(i) General descriptions of defined benefit plans:

The Company operates gratuity plan wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service.

Segment revenue with major customers

The Company has two customers during the year ended 31 March 2025 (PY Three customer) accounting for more than 10% of its revenue from operations. During the year 26.94% (PY 40.58%) of the Company''s revenue from operation was generated from these customers.

As the post-employment benefits is provided on an actuarial basis for the Company as a whole, the amount pertaining to key management personnel is not ascertainable and therefore not included above.

40 Lease transactions

Company as Lessee The Company has taken office buildings & warehouses on lease for a tenure of 3 to 5 years. The Company''s obligations under its leases are secured by the lessor''s title to the leased assets. Generally, the Company is restricted from assigning and subleasing the leased assets. There are no variable lease payments and residual value guarantees for these leases. The leases are renewable on mutually agreeable terms.

The Company applied Ind AS 116 for the lease property and the impact is given in financial is as follows :-Carrying amounts of lease liabilities and the movements during the year :

44 Distribution made and proposed

The Board of Directors has recommended payment of Dividend of ? 2.50 per fully paid Equity Shares (31 March 2024: ? 3.50). This proposed dividend is subject to the approval of Shareholders in the ensuing Annual General Meeting. The Dividend will be recognised in the books of accounts in the Year of Payment.

45 All amounts which became due, for transfer to the credit of Investor Education and Protection Fund, as of 31 March 2025, have been transferred to that fund.

46 Other Statutory Information

a) Loans and Advances in the nature of Loan to Related Parties:

The Company has not granted any Loans or Advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person as on 31 March 2025.

b) Relationship with Struck off Companies:

As per our knowledge, the Company do not have any transactions with struck off companies.

c) Registration of charges or satisfaction with Registrar of Companies:

The Company has no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

d) Compliance with number of layers of companies:

The Company complies with the number of layers prescribed under Clause 87 of Section 2 of the Act, read with the Companies (Restriction on number of layers) Rules, 2017.

(e) Compliance with approved Scheme (s) of Arrangements Accounted as per Scheme & Ind AS

Neither the Company has approached to nor any Competent Authority has approved any scheme of arrangements so as to account for in the books of account of the Company, in order to disclose any deviation in that regard.

(f) Loans, Guarantee, Security given by Company to Intermediary and it is giving to others on behalf of Company:

The Company has neither advanced nor 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).

(g) Crypto Currency or Virtual Currency:

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

(h) Benami Property:

The Company does not have any Benami property, and hence no proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

(i) Undisclosed Income:

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(j) Revaluation

The company has not revalued its property, plant & equipment during the year.

(k) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

47 Previous year''s figures have been regrouped wherever considered necessary to make them comparable with those of the current year.

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Mar 31, 2024

Note : Purpose and use of each Reserve1 Securities Premium Reserve

According to Section 52 of the Act, Securities premium can be used for the following purposes

• For the issue of fully paid bonus share capital

• For meeting the preliminary expenses incurred by the company

• For the meeting the expenses, commision or discount incurred concerning securities previously issued by the company

• For ensuring the availiablity of the premium on the redemption of redeemable debentures of preference share capital of the company

• For funding a scheme of buy-back of securities which is conducted in compaliance with the provisions of section 68 of the company Act

2 General Reserve

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the business during the course of an accounting period for fulfilling various business needs like meeting contingencies, offsetting future losses enhancing the working capital, paying dividends to the shareholders etc

3 Retained Earnings

Retained earnings are the portion of a company''s cumulative profit that is held or retained and saved for future use Retained earnings could be used for funding an expansion or paying dividends to shareholders at a later date.

4 Other Comprehensive Income

Comprehensive income is designed to give the reader of a company''s financial statements a more comprehensive view of the financial status of the entity.

(i) Borrowings are measured at amortised cost

(ii) Working capital facilities from the banks are secured by first pari passu charge created in their favour on entire current and movable fixed assets of the company.

(iii) Term loan of ? 10.71 crores (2023: ? 16.06 crores) is secured by first Charge by way of mortgage on immovable fixed Assets (Industrial Land & Building) at Pune, Maharashtra and First Charge by way of Hypothecation of movable fixed assets at Pune, Maharashtra. There was no default continuing or otherwise as at the Balance Sheet Date, in repayment of any of the above borrowings.

# Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of equity shares outstanding during the year.

* Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares.

33.2 Fair value hierarchy

Financial assets and liabilities include cash and cash equivalents, other balances with banks, trade receivables, loans, other financial assets, trade payables and other financial liabilities whose fair values approximate their carrying amounts largely due to the short term nature of such assets and liabilities.

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three Levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Hierarchy includes financial instruments measured using quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2: Hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets in markets that are not active.

Level 3: Unobservable inputs for the asset or liability.

Fair value of financial assets and financial liabilities measured at amortised cost :

The management believes that the fair values of non-current financial assets (e.g. loans and others), current financial assets (e.g., cash and cash equivalents, trade receivables, loans and others excluding other derivative assets) and current financial liabilities (e.g. trade payables and other payables excluding derivative liabilities) approximate their carrying amounts.

The Company has not performed fair valuation of its investment in unquoted equity shares as mentioned in note no. 3 which are classified as FVTOCI, as the Company believes that impact of change on account of fair value is insignificant.

33.3 Financial risk management

The Company''s activities exposes it to market risks, credit risks and liquidity risks. In order to minimise any adverse effets on the financial performance of the Company , derivative financial instruments such as forward foreign exchange contract are entered to hedge the foreign currency risk exposures. Derivatives are used exclusively for hedging purposes and not as a trading or speculative purposes.

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

a. Credit risk

Credit risk is the risk of financial losses to the Company if a customer or counterparty to financial instruments fails to discharge its contractual obligations. It arises primarily from the Company''s receivables from customers. To manage this, the Company periodically assesses the key accounts receivable balances. As per Ind-AS 109 : Financial Instruments, the Company uses expected credit loss model to assess the impairment loss or gain.

The carrying amount of trade and other receivables and other financial assets represents the maximum credit exposure.

i. Trade receivables

The management has established accounts receivable policy under which customer accounts are regularly monitored. The Company has a dedicated sales team which is responsible for collecting dues from the customer within stipulated period. The management reviews status of critical accounts on a regular basis.

An impairment analysis is performed at each reporting date on consolidated basis for similar category of customer. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.

The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

ii. Financial instruments and Cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Company monitors rating, credit spreads and financial strength of its counter parties. Based on ongoing assessment Company adjust it''s exposure to various counterparties.

b. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company has a view of maintaining liquidity and to take minimum possible risk while making investments. In order to maintain liquidity, the Company invests its excess funds in short term liquid assets like liquid mutual funds. The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its financial liabilities. The liquidity position at each reporting date is given below:

c. Market risk

Market risk is a risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. Market risk comprises three types of risk interest rate risk, currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include borrowings, trade and other payables, foreign exchange forward contracts, security deposit, trade and other receivables, deposits with banks.

i. Foreign currency risk

Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rate. Company transacts business in its functional currency (INR) and in other foreign currencies. The Company''s exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s operating activities, where revenue or expense is denominated in a foreign currency. The Company manages its foreign currency risk by hedging foreign currency payables using foreign currency forward contracts or foreign currency options, principal only swaps etc. The Company negotiates the terms of those foreign currency forward contracts to match the terms of the hedged exposure.

34 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2024 and 31 March 2023.

35 Disclosure as per the requirement of section 22 of the Micro, Small and Medium Enterprise Development Act, 2006:

Details of amounts outstanding to Micro and Small Enterprises as defined under the MSMED Act, 2006:

There are no material dues owed by the Company to Micro and Small enterprises, which are outstanding for more than 45 days during the year and as at 31 March 2024. This information as required under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

36 Details of employee benefits as required by Ind-AS 19 - "Employee benefits are as under":1 Defined contribution plan - Provident fund and other fund

The Company makes contribution towards employees'' provident fund and employees'' state insurance plan scheme. Under the schemes, the Company is required to contribute a specified percentage of payroll cost, as specified in the rules of the schemes, to these defined contribution schemes.

Provident fund and employees'' state insurance plan scheme is a defined contribution scheme established under a state plan. The contributions to the scheme are charged to the statement of profit and loss in the period when the contributions to the funds are due.

2 Defined benefit plan

(i) The defined benefit plan comprises gratuity, which is funded.

(ii) The company has a defined benefit gratuity plan The gratuity scheme of a company is covered under a group

gratuity cum life assurance cash accumulation policy offered by LIC of India

Actuarial gains and losses in respect of defined benefit plans are recognized in the Other Comprehensive Income (OCI).

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Gratuity is

a benefit to an employee in India based on 15 days last drawn salary for each completed year of service with a

vesting period of five years.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

Segment revenue with major customers

The Company has one customers during the year ended 31 March 2024 ( Previous year three customer) accounting for more than 10% of its revenue from operations. During the year 26.27% (Previous year: 40.58%) of the Company''s revenue from operation was generated from these customers.

Note :

Company operates in two business segments i) Extrusion ii ) Battery.

As the post-employment benefits is provided on an actuarial basis for the Company as a whole, the amount pertaining to key management personnel is not ascertainable and therefore not included above.

39 Lease transactions

Ind-AS 116 sets out the pricipals for the recognition, measerment and disclosure of leases for both lessees and lessors. it introduces a single, on balance sheet lease accounting model for lessees. Majority of the company''s agreement are expiring within twelve month making it a short term obligation which is exception under the standard. Further the impact of the remaining agreement are not significant.

40 Contingent liablities and commitments1. Contingent liabilities not provided for :

Sr. No.	Particulars	31 March 2024	31 March 2023
1	Bank Guarantee and Counter guarantees (Letter of Credit) given by the Company for the guarantees issued by Company''s bankers	648.32	634.07
2	Bill Discounting	-	1,651.58
3	Disputed Income tax demand 1	127.76	137.33
4	Service tax and Excise matters under dispute	12.11	12.11
5	Goods and service tax matters under dispute	9.24	9.24
6	Custom Duty matter under dispute	1.43	1.43

			(Amount in '' Lakhs)
2.	Capital and Other Commitment :
	Particulars	31 March 2024	31 March 2023
	Capital Commitment
	Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)	506.25	1,758.94
	Other Commitment	-	-

The Board of Director has recomended dividend of ? 3.50/- per share i.e. 70% for the F.Y. 2023-24 in the Board meeting held

on 03 May 2024.

44 Other Statutory Information

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

b) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

c) The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 during the year.

d) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

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

f) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

g) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

h) The company has not revalued its property, plant & equipment during the year.

i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

j) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

k) The quarterly returns or statements of current assets filed by Company with Banks or Financial Institutions are in agreement with the Books of Accounts except for net difference of ? 635 Lakh in debtors and creditors (book balance was more then statement submited) for quarter ended Sept-23 and difference of ? 2896 Lakh in debtor (book balance was more then statement submited) for quarter ended Dec-23.

46 Previous year''s figures have been regrouped wherever considered necessary to make them comparable with those of the current year.

1

Notes :

1) These matters are pending before various appellate authorities and the Management, including its tax advisors, expect that its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Company''s financial position and results of operations.

2 ) According to Accounting Standard (Ind-AS)-37 "Provisions,Contingent liabilities and Contingent assets", an incremental provision of t(311.77) lakhs (previous year t 1032.94) towards warranty claims has been made during the financial year as estimated by the management

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Mar 31, 2023

Note : Purpose and use of each Reserve1 Securities Premium Reserve

According to Section 52 of the Act, Securities premium can be used for the following purposes

• For the issue of fully paid bonus share capital

• For meeting the preliminary expenses incurred by the company

• For the meeting the expenses, commision or discount incurred concerning securities previously issued by the company

• For ensuring the availiablity of the premium on the redemption of redeemable debentures of preference share capital of the company

• For funding a scheme of buy-back of securities which is conducted in compaliance with the provisions of section 68 of the company Act

2 General Reserve

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the

business during the course of an accounting period for fulfilling various business needs like meeting contingencies,

offsetting future losses enhancing the working capital, paying dividends to the shareholders etc

3 Retained Earnings

Retained earnings are the portion of a company''s cumulative profit that is held or retained and saved for future use Retained earnings could be used for funding an expansion or paying dividends to shareholders at a later date.

4 Other Comprehensive Income

Comprehensive income is designed to give the reader of a company''s financial statements a more comprehensive view of the financial status of the entity.

(i) Borrowings are measured at amortised cost

(ii) Working capital facilities from the banks are secured by first pari passu charge created in their favour on entire current and movable fixed assets of the company.

(iii) Term loan of ? 16.06 crores (2022: ? 21.41 crores) is secured by first Charge by way of mortgage on immovable fixed Assets (Industrial Land & Building) at Pune, Maharashtra and First Charge by way of Hypothecation of movable fixed assets at Pune, Maharashtra. There was no default continuing or otherwise as at the Balance Sheet Date, in repayment of any of the above borrowings.

# Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of equity shares outstanding during the year.

* Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares.

32.2 Fair value hierarchy

Financial assets and liabilities include cash and cash equivalents, other balances with banks, trade receivables, loans, other financial assets, trade payables and other financial liabilities whose fair values approximate their carrying amounts largely due to the short term nature of such assets and liabilities.

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three Levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Hierarchy includes financial instruments measured using quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2: Hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets in markets that are not active.

Level 3: Unobservable inputs for the asset or liability.

Quantitative disclosures fair value measurement hierarchy for financial assets and liabilities as at 31 March 2023

Fair value of financial assets and financial liabilities measured at amortised cost :

The management believes that the fair values of non-current financial assets (e.g. loans and others), current financial assets (e.g., cash and cash equivalents, trade receivables, loans and others excluding other derivative assets) and current financial liabilities (e.g. trade payables and other payables excluding derivative liabilities) approximate their carrying amounts.

The Company has not performed fair valuation of its investment in unquoted equity shares as mentioned in note no. 3 which are classified as FVTOCI, as the Company believes that impact of change on account of fair value is insignificant.

32.3 Financial risk management

The Company''s activities exposes it to market risks, credit risks and liquidity risks. In order to minimise any adverse effets on the financial performance of the Company , derivative financial instruments such as forward foreign exchange contract are entered to hedge the foreign currency risk exposures. Derivatives are used exclusively for hedging purposes and not as a trading or speculative purposes.

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

a. Credit risk

Credit risk is the risk of financial losses to the Company if a customer or counterparty to financial instruments fails to discharge its contractual obligations. It arises primarily from the Company''s receivables from customers. To manage this, the Company periodically assesses the key accounts receivable balances. As per Ind-AS 109 : Financial Instruments, the Company uses expected credit loss model to assess the impairment loss or gain.

The carrying amount of trade and other receivables and other financial assets represents the maximum credit exposure.

i. Trade receivables

The management has established accounts receivable policy under which customer accounts are regularly monitored. The Company has a dedicated sales team which is responsible for collecting dues from the customer within stipulated period. The management reviews status of critical accounts on a regular basis.

An impairment analysis is performed at each reporting date on consolidated basis for similar category of customer. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.

The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

ii. Financial instruments and Cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Company monitors rating, credit spreads and financial strength of its counter parties. Based on ongoing assessment Company adjust it''s exposure to various counterparties.

b. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company has a view of maintaining liquidity and to take minimum possible risk while making investments. In order to maintain liquidity, the Company invests its excess funds in short term liquid assets like liquid mutual funds. The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its financial liabilities.

c. Market risk

Market risk is a risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. Market risk comprises three types of risk interest rate risk, currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include borrowings, trade and other payables, foreign exchange forward contracts, security deposit, trade and other receivables, deposits with banks. i. Foreign currency risk

Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rate. Company transacts business in its functional currency (INR) and in other foreign currencies. The Company''s exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s operating activities, where revenue or expense is denominated in a foreign currency. The Company manages its foreign currency risk by hedging foreign currency payables using foreign currency forward contracts or foreign currency options, principal only swaps etc. The Company negotiates the terms of those foreign currency forward contracts to match the terms of the hedged exposure.

33 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2023 and 31 March 2022.

34 Disclosure as per the requirement of section 22 of the Micro, Small and Medium Enterprise Development Act, 2006: Details of amounts outstanding to Micro and Small Enterprises as defined under the MSMED Act, 2006:

There are no material dues owed by the Company to Micro and Small enterprises, which are outstanding for more than 45 days during the year and as at 31 March 2023. This information as required under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

35 Details of employee benefits as required by Ind-AS 19 - "Employee benefits are as under":1 Defined contribution plan - Provident fund and other fund

The Company makes contribution towards employees'' provident fund and employees'' state insurance plan scheme. Under the schemes, the Company is required to contribute a specified percentage of payroll cost, as specified in the rules of the schemes, to these defined contribution schemes.

Provident fund and employees'' state insurance plan scheme is a defined contribution scheme established under a state plan. The contributions to the scheme are charged to the statement of profit and loss in the period when the contributions to the funds are due.

2 Defined benefit plan

(i) The defined benefit plan comprises gratuity, which is funded.

(ii) The company has a defined benefit gratuity plan The gratuity scheme of a company is covered under a

group

gratuity cum life assurance cash accumulation policy offered by LIC of India

Actuarial gains and losses in respect of defined benefit plans are recognized in the Other Comprehensive Income (OCI).

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Gratuity is

a benefit to an employee in India based on 15 days last drawn salary for each completed year of service with a

vesting period of five years.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

Segment revenue with major customers

The Company has three customers during the year ended 31 March 2023 ( Previous year one customer) accounting for more than 10% of its revenue from operations. During the year 40.58% (Previous year: 11.30%) of the Company''s revenue from operation was generated from these customers.

Note :

Company operates in two business segments i) Extrusion ii ) Battery.

38 Lease transactions

Ind AS 116 sets out the pricipals for the recognition, measerment and disclosure of leases for both lessees and lessors. it introduces a single, on balance sheet lease accounting model for lessees. Majority of the company''s agreement are expiring within twelve month making it a short term obligation which is exception under the standard. Further the impact of the remaining agreement are not significant.

39 Contingent liablities and commitments 1. Contingent liabilities not provided for :
	Sr. No.	Particulars	31 March 2023	31 March 2022
	1	Bank Guarantee and Counter guarantees (Letter of Credit) given by the Company for the guarantees issued by Company''s bankers	634.07	406.65
	2	Bill Discounting	1,651.58	-
	3	Disputed Income tax demand *	137.33	125.85
	4	Service tax matters under dispute	21.34	21.34
	5	Custom Duty matter under dispute	1.43	1.43
2.	Capital and Other Commitment :
	Particulars		31 March 2023	31 March 2022
	Capital Commitment
	Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)		1,758.94	1,031.18

1) These matters are pending before various appellate authorities and the Management, including its tax advisors, expect that its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Company''s financial position and results of operations.

2) According to Accounting Standard (Ind AS)-37 "Provisions,Contingent liabilities and Contingent assets", an incremental provision of ? 1032.94 lakhs (previous year ? 347.67) towards warranty claims has been made during the financial year as estimated by the management.

The Board of Director has recomended dividend of ? 3.50/- per share i.e. 70% for the F.Y. 2022-23 in the Board meeting held on 10 May 2023.

43 Social security code

The code on social security 2020 (''the Code'') relating to employee benefits,during the employment and post employment,has recevied Presidential assent on september 28,2020. The code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued. The company will assess the impact of the Code and will give appropriate impact in the standalone Financial Statements in the period in which, the Code becomes effective and the related rules to determine the Financial impact are published.

44 Other Statutory Information

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

b) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

c) The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 during the year.

d) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

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

f) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

g) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

h) The company has not revalued its property, plant & equipment during the year.

i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

j) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

k) The quarterly returns or statements of current assets filed by Company with Banks or Financial Institutions are in agreement with the Books of Accounts except for difference of ? 209 Lakh in debtors (book balance was more then statement submited) for quarter ended June-22 and difference of ? 172 Lakh in Inventory (book balance was more then statement submited) for quarter ended Dec-22.

45 Previous year''s figures have been regrouped wherever considered necessary to make them comparable with those of the

current year.

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Mar 31, 2018

31 Capital management

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximize shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2018, 31 March, 2017 and 1 April 2016.

32 Disclosure as per the requirement of section 22 of the Micro, Small and Medium Enterprise Development Act, 2006:

Company is in process of inviting information from its vendors for their status under “The Small, Medium and Micro Enterprises Development Act 2006”, however in absence of any information and hence no disclosures have been made in this regards.

33 Details of employee benefits as required by In-AS 19 - “Employee benefits are as under”:

1 Defined contribution plan - Provident fund

The group has recognized following amounts in the profit & loss account for the year:

2 Defined benefit plan

i) The defined benefit plan comprises gratuity, which is funded.

ii) Actuarial gains and losses in respect of defined benefit plans are recognized in the Other Comprehensive Income (OCI).

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Gratuity is a benefit to an employee in India based on 15 days last drawn salary for each completed year of service with a vesting period of five years.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

a. The discount rate is based on prevailing yields of Indian Government Securities as at the Balance Sheet date for the estimated term of the obligation.

b. Salary Escalation Rate: The estimates of future salary increases takes into account the inflation, seniority, promotion and other relevant factors.

c. Assumptions regarding future mortality rates are the rates as given under Indian Assured Lives Mortality (2006-08) Ultimate.

1 Segment information

The Company’s operating business predominantly relates to manufacture of plastic extrusion machinery and allied equipments thereof and hence the Company has considered “Plastic extrusion machinery and allied equipments” as the single reportable segment.

2 Related party disclosures

A. Relationship between the parent and its subsidiaries:

Relationship__Name of related party_

Associate or Joint Venture Companies Plastiblends India Ltd, Penta Auto feeding India Ltd., Kabra or promoter Companies__Mecanor Belling Technique Pvt Ltd._

Enterprise over which key management Kosice Corporation LLP, Maharashtra Plastic & Industries, personnel exercise significant Spartech Global Solution Ltd, Kabra Gloucester Egg Ltd., influence.__Taiyou Green Solutions Pvt Ltd._

B. List of Key Management Personnel :

Key Management Personnel (KMP): Shri S.V.Kabra, Shri S.N.Kabra, Shri Anand S.Kabra &

Smt.Ekta A.Kabra - Executive Directors

3 Details of provisions and movements in each class of provisions as required by the Indian Accounting Standard (In AS) 37 - Provisions, Contingent liabilities and Contingent assets

1. Warranty

According to Accounting Standard (In AS)-37 “Provisions, Contingent liabilities and Contingent assets”, an incremental provision of NIL (previous year of NIL ) towards warranty claims has been made during the Financial Year as estimated by the management.

The warranty provision is expected to be utilized over a period of one year.

4 In respect of Financial Year 2017-18, the company could spent only specific amount, as process of identifying activities/projects in on going, so as to be in line with CSR objectives.

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Mar 31, 2017

1. Capital Commitments:

Estimated Amount of contracts remaining to be executed on capital account & not provided for is Rs. 213.88 lacs (Previous year Rs 370.56 lacs)

Other Commitments:

Liability on account of forward contracts entered during the year and are outstanding on March 31, 2017 against forecasted transactions amounting to Rs. NIL (Previous Year Rs.331.25 Lacs)

e) Compensated Leave: Privilege leave entitlements are recognized as liability in the financial year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encased at any time during the tenure of employment, the liability is recognized at the higher of the actual accumulated obligation or actuarially determined value.

2. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

3. Related Party Disclosures

(a) List of related parties and relationships:

Relation Parties

A. Associate Companies or promoter Companies Plastiblends India Ltd, Penta Auto feeding India Ltd.

B. Enterprise over which key management Kolsite Industries, Maharashtra Plastics & Industries, personnel exercise significant influence. Kolsite Corporation LLP, Kabra Gloucester

Engineering Ltd, Kolsite Packaging Systems Pvt.

Ltd, Maharastra Plastics Industries

C. Executive Directors, Director and their Relatives S V Kabra, S N Kabra, Anand Kabra, Varun Kabra,

Veenadevi Kabra, Saritadevi Kabra, Ekta Kabra, Jyoti Kabra

4. Dividend of Rs. 2/- per share (40%) on paid - up capital of the Company, which amounts to Rs. 638.05 lacs and tax payable on it amounting to Rs. 129.89 lacs have not been recognized as a liability at the balance sheet date i.e. as at 31^st March, 2017 in terms of amended AS-4 issued by ICAI pursuant to Companies (Accounting Standard) Amendment Rules, 2016.

5. According to Accounting Standard AS - 29 “Provisions, Contingent Liabilities & Contingent Assets”, an incremental provision of NIL (Previous year of Rs.28.42 Lacs) towards warranty claims has been made during the financial year as estimated by the management.

6. Income tax provision has been made taking into account the weighted deduction in respect of revenue & capital expenditure incurred for In-house R & D Division to which the company is entitled under Section 35(2AB) of the Income Tax Act, 1961.

7. During the financial year 2016-17, the company has incurred Research & Development Expenditure of revenue nature amounting to Rs. 865.23 Lacs and capital expenditure of Rs. 82.77 Lacs which is eligible for weighted deduction under Section 35 (2AB) of the Income Tax Act, 1961.

8. Factory at Kachigam, Daman was flooded by water on 02.08.2016. This had caused damages to Plant & Machinery, other assets, stores spares & Raw materials. All assets are covered by re-instatement policy for which insurance claim has been filed and part disbursement received. Final settlement of claim is under process.

9. Previous year''s figures have been regrouped/recast wherever necessary.

---

Mar 31, 2016

1. Capital Commitments

Estimated Amount of contracts remaining to be executed on capital account & not provided for is Rs. 370.56 lacs (Previous year Rs. 41.16 lacs)

Other Commitments

Liability on account of forward contracts entered during the year and are outstanding on March 31, 2016 against forecasted transactions amounting to Rs. 331.25Lacs(Previous Year Rs. 1246.15 Lacs)

2. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under “The Small, Medium and Micro Enterprises Development Act 2006”, however in absence of any information, no disclosures have been made in this regards.

e) Compensated Leave:

Privilege leave entitlements are recognized as liability in the financial year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognized at the higher of the actual accumulated obligation or actuarially determined value.

3. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

4. According to Accounting Standard AS - 29 “Provisions, Contingent Liabilities & Contingent Assets”, an incremental provision of Rs. 28.42 Lacs (Previous year Rs. 46.01Lacs) towards warranty claims has been made during the financial year as estimated by management.

5. Company has not provided for differential bonus liability for the financial year 2014-15 in view of stay granted by various courts on such payments against case filed by various entities challenging retrospective amendment to the Payment of Bonus Act.

6. The Company has made initial investment of Rs. 4.94 lacs in total Paid-up Capital of Rs. 9.92 lacs of M/s. Penta Auto Feeding India Ltd., a joint venture company, which is yet to commence its commercial operation and hence its accounts are not consolidated.

7. Income tax provision has been made taking into account the weighted deduction in respect of revenue & capital expenditure incurred for In-house R & D Division to which the company is entitled under Section 35(2AB) of the Income Tax Act, 1961.

8. During the financial year 2015-16, the company has incurred Research & Development Expenditure of revenue nature amounting to Rs. 671.55Lacs and capital expenditure of Rs. Nil which is eligible for weighted deduction under Section 35 (2AB) of the Income Tax Act, 1961.

9. The Company had invested Rs. 22.95 Crores in BW PTI Holdings Inc (formerly known as M/s. Gloucester Engineering Inc. USA) a US based company engaged in manufacture of high-end high-output multilayer blown film plants. Consequent to disposal of certain assets and liabilities during the year of blown-film division by BW PTI Holdings Inc., a provision for diminution in value of investments amounting to Rs. 18.50 Crores has been made.

10. Previous year’s figures have been regrouped/recast wherever necessary.

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Mar 31, 2015

1. Capital Commitments

Estimated Amount of contracts remaining to be executed on capital account & not provided for is RS. 41.16 lacs (Previous year RS. 3495.52 lacs)

Other Commitments

Liability on account of forward contracts entered during the year and are outstanding on March 31, 2015 against forecasted transactions amounting to RS. 1246.16 lacs (Previous Year RS. 930.96 lacs)

2. Contingent Liabilities not provided for:

(RS. in lacs)

Particulars 31st March 2015 31st March 2014

Bank Guarantee and Counter guarantees (Letter of Credit) given by the 1,303.55 337.98 Company for the guarantees issued by Company's bankers

Fixed deposits shown under the head cash and bank balances include 98.05 46.53 deposits pledged with the banks as margin to secure letters of credit and guarantees issued by banks

Net amount 1,205.50 291.45

Service Tax matter under dispute 124.47 124.47

3. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

4. Disclosure in pursuance of Accounting Standard – 15 (Revised 2005) on "Employee Benefits"

a) Compensated Leave:

Privilege leave entitlements are recognised as liability in the financial year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognised at the higher of the actual accumulated obligation or actuarially determined value.

b) Gratuity is administered through group gratuity scheme with Life Insurance Corporation of India.

5. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

6. Related Party Disclosures

(a) List of Related Parties and Relationships:

Nature of Relationship Name of Parties

A. Associate / Promoter Company Plastiblends India Ltd.,

B. Enterprise over which Kolsite Industries,Maharashtra Executive Directors of the Plastics & Industries,Kolsite Company exercise significant Corporation LLP,influence Rambalab Ramnaran, Kabra Gloucester Engineering Ltd, Kolsite Packaging Systems Pvt. Ltd,

C. Executive Directors,Directors S. V. Kabra, S. N.Kabra,Anand Kabra, and their Relatives Varun Kabra,Veenadevi Kabra, Saritadevi Kabra, Ekta Kabra, Jyoti Kabra,

7. According to Accounting Standard AS - 29 "Provisions, Contingent Liabilities & Contingent Assets", an incremental provision of RS. 46.01 lacs (Previous year RS. 44.43 lacs) towards warranty claims has been made during the financial year as estimated by management.

8. Income tax provision has been made taking into account the weighted deduction in respect of revenue & capital expenditure incurred for In-house R & D Division to which the company is entitled under Section 35(2AB) of the Income Tax Act, 1961.

9. During the financial year 2014-15, the company has incurred Research & Development Expenditure of revenue nature amounting to RS. 798.79 lacs and capital expenditure of RS. Nil which is eligible for weighted deduction under Section 35 (2AB) of the Income Tax Act, 1961.

10. Previous year's figures have been regrouped/recast wherever necessary.

---

Mar 31, 2014

1. Capital Commitments

Estimated Amount of contracts remaining to be executed on capital account & not provided for is Rs. 3495.52 lacs (Previous year Rs. 1059.78 lacs)

Other Commitments

Liability on account of forward contracts entered during the year and are outstanding on March 31, 2014 against forecasted transactions amounting to Rs. 930.96 Lacs (Previous Year Rs. NIL)

2. Contingent Liabilities not provided for:

(Rs. in lacs) Particulars 31 March 2014 31 March 2014

Bank Guarantee and Counter guarantees / Letter of Credit given by the 337.98 640.53

Company for the guarantees issued by Company''s bankers

Fixed deposits shown under the head cash and bank balances include 46.53 46.53

deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks

Net amount 291.45 594.00

Service Tax matter under dispute 124.47 124.47

3. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

e) Compensated Leave:

Privilege leave entitlements are recognised as liability in the financial year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognised at the higher of the actual accumulated obligation or actuarially determined value.

g) Gratuity is administered through group gratuity scheme with Life Insurance Corporation of India.

4. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

5. According to Accounting Standard AS - 29 "Provisions, Contingent Liabilities & Contingent Assets", an incremental provision of Rs. 44.43 Lacs (Previous year Rs. NIL) towards warranty claims has been made during the financial year as estimated by management.

6. Income tax provision has been made taking into account the weighted deduction in respect of revenue & capital expenditure incurred for In-house R&D Division to which the company is entitled under Section 35(2AB) of the Income Tax Act, 1961.

7. During the financial year 2013-14, the company has incurred Research & Development Expenditure of revenue nature amounting to Rs. 654.90 Lacs and capital expenditure of Rs. NIL which is eligible for weighted deduction under Section 35 (2AB) of the Income Tax Act, 1961.

8. Previous year''s figures have been regrouped/recast wherever necessary.

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Mar 31, 2013

1. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

2. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

3. According to Accounting Standard AS – 29 "Provisions, Contingent Liabilities & Contingent Assets", an incremental provision of Rs. NIL (Previous year Rs. NIL) towards warranty claims has been made as estimated by management (Warranty provision as on 31.03.2013 Rs. 174 Lacs, after reversing Rs. 9 lacs provision from the previous year balance of Rs. 183 Lacs).

4. Income tax provision has been made taking into account the weighted deduction in respect of revenue & capital expenditure incurred for In-house R & D division to which the company is entitled under Section 35 (2AB) of the Income Tax Act, 1961, though formal approval in Form 3CM is pending (In-house R & D facility has been approved by Department of Scientifc and Industrial Research, New Delhi).

5. Previous year''s fgures have been regrouped/recast wherever necessary.

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Mar 31, 2012

1. Capital Commitments:

Estimated Amount of contracts remaining to be executed on capital account & not provided for is Rs. 31/- lacs (Previous year Rs. 175/-lacs)

Other Commitments

Liability on account of forward contracts entered during the year and are outstanding on March 31, 2012 against forecasted transactions amounting to Rs 614.58 Lacs (USD 12.50 Lacs)

2. Contingent Liabilities not provided for:

(Rs. in Lacs)

Particulars 31st March, 31st March, 2012 2011

Counter guarantees given by the Company for the guarantees issued by 354.47 359.09 Company's bankers

Fixed deposits shown under the head cash and bank balances include deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks 46.53 46.53

Net amount 307.94 312.56

Disputed income tax demand Nil Nil

Excise matter under dispute appeal by Department Nil Nil

Service Tax matters under dispute 142.37 108.75

3. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information no disclosures have been made in this regards.

4. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

5. Related Party Disclosures

(a) List of related parties and relationships:

Relation Name of Parties/Persons

A. Associate Companies Plastiblends India Ltd. and promoter Companies

B. Enterprises over which key management Kolsite Industries, Maharashtra Plastics personnel exercise & Industries, Maharashtra Plastic significant influence Industries, Kolsite Maschine Fabrik Pvt. Ltd, Mahashree Plastic Inds Pvt. Ltd, Wonderworld Resorts Ltd, Smartech Global Solutions Ltd, Rambalab Ramnaran, Kabra Gloucester Engineering Ltd, Ganges Urethane LLP, Kolsite Packaging Systems Pvt. Ltd.

C. Key Management S V Kabra, S N Kabra, Anand Kabra, Varun Personnel and Relatives, Kabra, Veenadevi Kabra, Saritadevi Chairman & Managing Kabra, Ekta Kabra Director, Director, Related to Directors

6. According to Accounting Standard AS - 29 "Provisions, Contingent Liabilities & Contingent Assets", an incremental provision of Rs. Nil (Previous year Rs. 22 Lacs) towards warranty claims has been made as estimated by management (Warranty provision as on 31.03.2012 Rs. 183 Lacs, after reversing Rs. 32 lacs provision from the previous year balance of Rs. 215 Lacs).

---

Mar 31, 2011

1. Capital Commitments:

Estimated amount of contracts remaining to be executed on capital account & not provided for is Rs 1,75,00,000/- (Previous year Rs 2,28,00,000/-)

2. Contingent Liabilities not provided for:

Year Ended March 31 (Rs.)

Particulars 2011 2010

a) Counter guarantees given by the Company for the guarantees issued by Company's 3,59,00,501 7,27,90,894

Fixed deposits shown under the head cash and bank balances include deposits pledged with the banks as margins to secure letters of credit and guarantees issued 46,52,734 29,99,212 by banks

Net amount 3,12,55,767 6,97,91,682

b) In respect of disputed demands/claims against the company

i) Disputed income tax demand Nil Nil

ii) Excise Matter under dispute appeal by Department Nil 19,57,563

iii) Service Tax matter under dispute 1,08,74,905 Nil

3. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

4. Information about Business Segments

The company is operating in one segment only i.e. Plastic Extrusion Machinery & Allied Equipments.

5. According to Accounting Standard AS - 29 "Provisions, Contingent Liabilities & Contingent Assets , an incremental provision of Rs.22,00,000/- (Previous year Rs.43,00,000/-) towards warranty claims has been made as estimated by management (Warranty provision as on 31.03.2011 Rs.2,15,00,000/-) (Previous Year Rs. 1,93,00,000/-)

6. Previous year's figures have been regrouped/recast wherever necessary.

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Mar 31, 2010

1. In the opinion of the Board of Directors the Current Assets, Loans & Advances are approximately of the value stated, if realised in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

2. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs.2,27,11,593/- (Previous Year Rs. 3,00,00,000/-).

3. Contingent Liabilities not provided for

( Rupees ) ( Rupees) 2009-10 2008-09

(a)In respect of counter gurantee given to bank for gurantees issued by bank 7,27,90,894 3,23,00,825 on behalf of the Company (Bank guran tees are secured by hypothecation/ charges on companies current/fixed assets )

(b) In respect of disputed demands/ claims against the company

(i) Excise matter under dispute Appeal by Department 19,57,563 19,57,563

(ii) Service Tax matter under dispute Appeal by Company - 50,000

4. As required by AS-18 "Related party disclosures" are given below.

a) Names of Related parties and description of relationship with whom there were "No Transactions" during the year. i) Maharashtra Plastic Industries, Kabra Gloucester Engineering Ltd - Associate Concerns Mrs.Veenadevi Kabra, Mrs Saritadevi Kabra, Mr Varun Kabra, Gopilal R Kabra - HUF- Relatives of Directors ii) All Purpose Consultations & Services Pvt. Ltd., Harekrishna Harerama Trading Company Pvt.Ltd, Ideal Consultancy Service Pvt Ltd, Welworth Investments & Trading Company Pvt Ltd, Elegant Trading & Investments Co. Pvt. Ltd., See diff Software Solutions (India) Pvt.Ltd, SPL Industrial Park Ltd., SPL Industrial Support Services Ltd., Supreme Petrochem Ltd, Supreme Capital Management Ltd., Rama Newsprint and Paper Ltd., Multilayer Films Pvt. Ltd., Jagatguru Investment & Trading Co.P.Ltd., Jeetmal Chhogmal, Polysterene Producers Association (India), Chemical & Petrochemicals Manufacturers Assn, LIC Housing Finance Ltd., Dishman Pharmaceuticals & Chemicals Ltd., Deutsche Trustee Services (India) Pvt. Ltd., IBS Forex Limited., Encee Securities Pvt Ltd., - Concerns in which directors are interested.

b) Names of related parties and description of relationship with whom there were "Transactions" during the year

i) Kolsite Maschine Fabrik Pvt. Ltd, Plastiblends India Ltd, Maharashtra Plastic & Industries, Smartech Global Solutions Ltd., Rambalab Ramnaran, Kolsite Industries, Mahashree Plastic Industries Pvt. Ltd., Wonderworld Resorts Ltd. Associate Concerns.

ii) Mr. S. V. Kabra , Mr. S. N. Kabra , Mr. H. S. Sanwal, Mr. M. P.Taparia, Mr. Y. B. Desai, Mr. Anand S. Kabra and Mr. N. C. Chauhan - Director.

iii) The Supreme Industries Ltd . - Concern in which director is interested

Following transactions carried out with the related parties were in the ordinary course of business.

5. In absence of intimation from the vendors with regared to their registration (filing of Memorandum) under "The Micro, Small & Medium Enterprise Development Act 2006 (27 of 2006)" and in view of the terms of payments not exceeding 45 days no liability exists at the close of the year and hence no disclosure have been made in this regard.

6. According to Accounting Standard-29 " Provisions,Contingent Liabilities and Contingent Assets" an incremental provision of Rs.43,00,000/- ( Previous year Rs.7,00,000/-) towards warranty claims has been made as estimated by management (warranty provisions as on 31.03.2010 Rs. 1,93,00,000/-)

7. Previous years figure have been regrouped and re-arranged wherever necessary.

8. As approved by the Members, at their Extra-ordinary General Meeting, Equity Share of the Company having face value of Rs. 10/- have been sub-divided into 2 (Two) Equity Shares of Rs. 5/- each and accordingly 79,75,580 fully paid equity shares of Rs. 10/- each comprising of the Issued, Subscribed and Paid-up Equity Capital of the Company have been sub-divided into 1,59,51,160 fully paid equity shares of Rs. 5/- each.