Notes to Accounts of M K Proteins Ltd.

Mar 31, 2025

m) Provisions and contingent liabilities

i) Provisions

Provisions are recognized when there is a present legal or constructive obligation as a result of a past
events, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and there is a reliable estimate of the amount of the obligation. If the effect of the
time value of money is material, provisions are determined by discounting the expected future cash
flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks
specific to the liability. Where discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost.

ii) Contingent liabilities

Contingent liabilities are disclosed in the Notes to the standalone financial statements. They are
disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly
within the control of the Company, or a present obligation that arises from past events where it is
either not probable that an outflow of resources will be required to settle the obligation, or a reliable
estimate of the amount cannot be made.

iii) Contingent assets

A contingent asset is a possible asset that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly
within the control of the entity. The Company does not recognize the contingent asset in its standalone
financial statements since this may result in the recognition of income that may never be realized.
Where an inflow of economic benefits is probable, the Company discloses a brief description of the
nature of contingent assets at the end of the reporting period. However, when the realization of income
is virtually certain, then the related asset is not a contingent asset and the Company recognizes such
assets.

Provision, contingent liabilities and contingent assets are reviewed at the each Balance Sheet date.

n) Earning per shares

Basic earnings per share is calculated by dividing the net profit after tax for the period attributable to
equity shareholders by the weighted average number of equity shares outstanding during the period.
The weighted average number of equity shares outstanding during the period and for all periods
presented is adjusted for events, such as bonus shares and sub-division of share, other than the
conversion of potential equity shares that have changed the number of equity shares outstanding,
without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares.

0) Foreign currency translation

1) Functional and presentation currency

Items included in the standalone financial statements are measured using the currency of the primary
economic environment in which the Company operates (‘the functional currency’). The standalone
financial statements are presented in Indian Rupees (INR), which is Company’s functional and
presentation currency.

ii) Transaction and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at
the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such
transactions, as well as from the translation of monetary assets and liabilities denominated in foreign
currencies at year-end exchange rates, are generally recognized in the Statement of Profit and Loss.
Non-monetary items that are measured at historical cost in foreign currency are not retranslated. All
non-monetary items denominated in foreign currency are carried at historical cost or a similar
valuation and are reported using the exchange rate that existed when the values were determined.

p) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the
Chief Operating decision-maker. The Chief Operating decision-maker is responsible for allocating
resources and assessing performance of the operating segments and makes strategic decisions. Refer
Note 34 for segment information presented.

q) Exceptional items

When items of income or expense are of such nature, size and incidence that their disclosure is
necessary to explain the performance of the Company for the year, the company makes a disclosure of
the nature and amount of such items separately under the head “exceptional items.”

r) Statement of Cash Flow

Cash flows are reported using the Indirect Method, as set out in Ind AS 7 ‘Statement of Cash Flow’,
whereby profit for the year is adjusted for the effects of transaction of non-cash nature, any deferrals
or accruals of past or future operating cash receipts or payments and item of income or expenses
associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

[34] SEGMENT REPORTING

a) Details of principal activities and reportable segment

The Company has identified its operating segments in accordance with Indian Accounting Standard (Ind AS) 108 - Operating Segments. The reporting of these segments aligns with the
internal information provided to the Chief Operating Decision Maker (“CODM”), who is responsible for the allocation of resources and assessment of segment performance. The
Managing Director of the Company has been designated as the CODM. Operating segments are defined as components of the Group whose operating results are regularly reviewed by
the CODM for the purpose of making strategic decisions regarding resource allocation and performance evaluation, and for which discrete financial information is available. In line with the
Company’s vertically integrated business model, all operations related to Vegetable Refined Oil and its by-products—including Rice Bran Refined Oil, Rice Fatty Acid, Rice Wax Oil,
Gum/Spent Earth, and other incidental trading activities within India—are considered part of a single business segment. Consequently, the Company does not have any separately reportable
segments under Ind AS 108.

b) Geographical segment

Company’s performance is predominantly driven by domestic operations, and hence, no separate geographical segment has been identified. Accordingly, no additional segmental
disclosures are presented in the financial statements.

c) Information about major customers

No single customer accounted for more than 10% of the company''s total revenue during the year under review.

[35] LEASES

i) Amounts recognised in balance sheet

The Company has entered into a long-term lease agreement for factory land utilized in its operational and day-to-day management activities. Accordingly, the amounts relating to
leasehold land are depicted in the Balance Sheet as below:

IV) The following is the basis of categorizing the financial instruments measured at fair value into Level 1 to Level 3:

The Company categorizes financial instruments measured at fair value into a three-level hierarchy based on the observability of the inputs used in the valuation process. Fair values are
determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement
date, under current market conditions, irrespective of whether the price is directly observable or estimated using other valuation techniques.

The Company has established the following fair value hierarchy that categorizes the values into 3 levels. The inputs to valuation techniques used to measure fair value of financial instruments
are:

Level 1: This hierarchy includes financial assets and liabilities that are measured by using quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: This hierarchy includes financial assets and liabilities that are not traded in an active is determined using valuation techniques which maximize the use of observable market data
and rely as little as possible on company specific estimates.

Level 3: This level includes financial assets and liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole
or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument not are they based on
available market data.

[39] FINANCIAL RISK MANAGEMENT

The company’s activity exposes itself to variety of financial risk which includes market risk, credit risk, liquidity risk and interest rate risk. The Company has various financial assets such
as deposits, trade receivables and cash and cash equivalent directly related to its business operations. The principal financial liabilities of the company consist of borrowings and trade
payables. The senior management of the company focuses on anticipating unpredictability and minimizing potential adverse effects on the company’s financial performance. The Company’s
overall risk management procedures to mitigate the potential adverse effects of financial market on the Company’s performance are as follows:

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest
rate risk, currency risk and other price risk, such as commodity risk. The Company’s exposure to market risk is primarily on account of interest risk, foreign currency risk and Commodiy
price risk.

i) Interest rate risk management:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company is exposed to such risk

primarily through its interest-bearing liabilities. Interest rate risk is actively monitored and managed by tracking market rate movements and evaluating the impact on existing exposures.

As of the reporting date, all of the Company’s borrowings are at fixed interest rates, except for one working capital demand loan which carries a floating interest rate. The Company does
not have any interest-bearing assets with floating rates.

Interest rate sensitivity analysis

The sensitivity analysis below has been prepared based on the exposure to interest rate risk arising from floating rate liabilities as of the end of the reporting period. The analysis assumes
that the amount of the floating rate liability outstanding at the reporting date was in place for the full year. A 50 basis point increase or decrease in interest rates is used, reflecting management’s
assessment of a reasonably possible shift in market interest rates.

If interest rates had been 50 basis points higher or lower, with all other variables held constant, the Company’s profit for the year ended March 31, 2025 would have decreased or
increased by Rs.1826920.00 (for the year ended March 31,2024: Rs.954530.00). This sensitivity is primarily attributable to the Company’s exposure to changes in interest rates on its variable
rate borrowings.

ii) Foreign currency exchange rate risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument or transaction may fluctuate due to changes in foreign exchange rates. The Company’s
exposure to such risk arises primarily from its operating activities involving transactions denominated in foreign currencies.

During the year ended March 31, 2025, the Company’s exposure to foreign currency risk was limited solely to the import of materials from overseas suppliers. The total value of such imports
was Rs. Nil, compared to Rs.67652436.78 for the year ended March 31, 2024, representing approximately 0% and 3% of total purchases for the respective periods. There were no
outstanding foreign currency payables as at the end of the reporting period.

Given the negligible volume of foreign currency-denominated transactions, the Company typically meets its foreign exchange requirements by procuring currency from the open market
at the time of settlement of import liabilities. The Company monitors its exposure to foreign currency risk on an as-needed basis, but does not engage in derivative contracts or hedging
instruments to mitigate this risk, due to the minimal nature of its exposure.

iii) Commodity Price Risk

The Company is exposed to the risk of changes in commodity prices, particularly related to its purchase of raw materials, especially crude edible oil and chemicals.

The Company develops periodic financial forecasts based on commodity price forecasts by its procurement group and appropriate actions including changes in selling price and cost
saving measures are considered as part of the financial modeling to mitigate the impact of commodity price changes.

A 1% increase in commodity prices would have led to approximately Rs.27197162.00 additional loss in the Statement of Profit and Loss (2023-24: Rs.22456274.00 loss). Conversely, a
1% decrease in commodity prices would have had an equal but opposite effect.

b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities
(particularly trade receivables). To manage this risk, the Company consistently monitors the financial health of its customers, ensuring that sales proceeds are realized according to milestone
payment terms to minimize losses from defaults or customer insolvency. Progressive liquidity management practices are employed to mitigate the risk of non-fulfillment of liabilities to
various creditors, statutory obligations and stakeholders. The Carrying amount of financial assets represents the maximum credit risk exposure. There is no significant concentration.

i) Trade Receivables

Credit risk is the risk of financial loss to the Company in the event of a trade partner’s failure to meet its contractual obligations. The Company is primarily exposed to credit risk arising
from its trade receivables. This risk is managed in accordance with established policies, procedures, and controls that govern the assessment and monitoring of trade partner creditworthiness.
To measure impairment losses, the Company applies the simplified approach permitted by Ind AS 109, using a provision matrix to recognize lifetime expected credit losses (ECL) on its
portfolio of trade receivables. The provision matrix is developed based on historically observed default rates over the expected life of the receivables, and it is further adjusted to reflect
current and forward-looking macroeconomic conditions. The Company consistently measures the loss allowance for trade receivables at an amount equal to lifetime ECL. This approach
uses practical expedients under the simplified model and incorporates the ageing profile of receivables. Based on an internal assessment—considering historical trends and presently available
data on defaults and delays—the credit risk on trade receivables is assessed to be low.

The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company does not hold collateral as security.

The management believes that no further provision is necessary in respect of trade receivables based on historical trends of these customers. Further, the Company’s exposure to
customers is diversified and no single customer has significant contribution to trade receivables balances.

ii) The Company maintains its cash and cash equivalents and term deposits (if any) with reputed banks. The credit risk on these instruments is limited because the counterparties are banks
with high credit ratings assigned by international credit rating agencies.

iii) Financial assets other than trade receivables and cash and cash equivalents are not exposed to any material credit risk.

c) Liquidity Risk

Liquidity risk refers to the risk that the Company may not be able to meet its financial obligations as they fall due, whether under normal conditions or during periods of stress, without
incurring unacceptable losses or adversely affecting its financial position and reputation.

The Company’s liquidity management approach is focused on ensuring that it has adequate liquidity to meet its liabilities as they become due. This includes maintaining access to
sufficient funding sources and aligning the maturity profiles of financial assets and liabilities.

The ultimate responsibility for managing liquidity risk lies with the Board of Directors, which has established a robust framework to oversee the Company’s short-term, medium-term,
and long-term funding and liquidity needs. The Company actively manages its liquidity risk by maintaining adequate internal accruals, equity infusion when necessary, and by strategically
matching the maturities of its financial assets and liabilities.

The table below has been drawn up based on the undiscounted contractual maturities of the financial liabilities including interest that will be paid on those liabilities upto the maturity of
the instruments.

[40] CAPITAL MANAGEMENT

For the purpose of capital management, the Company defines capital as the aggregate of issued equity share capital and other equity reserves attributable to its equity shareholders. The
primary objective of capital management is to ensure the Company''s continued operation as a going concern while maximizing shareholder value.

The Company actively manages its capital structure by adapting to changes in economic conditions, annual operating plans, and long-term strategic investment goals. To achieve an
optimal capital structure, it may adjust dividend payouts, return capital to shareholders, or issue new equity. The current capital structure primarily consists of equity, supplemented by
borrowings. The Company is not subject to any externally imposed capital requirements.

[43] OTHER STATUTORY INFORMATION:

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

ii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

iii) The Company has not traded or invested in Crypto currency or Virtual currency during the current and previous year.

iv) The Company has not advanced or loaned or invested funds to any other persons(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.

v) 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.

vi) The Lender of the company has not declared company as willful defaulter by any bank or financial institution or any lender and also company has not defaulted in repayment of loan to the
lender.

vii) The Company has no subsidiary, associates and joint venture down word.

viii) The Company has not entered into any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961 (such as, search or survey or any other relevant Provisions of the Income Tax Act, 1961).

ix) Compliance with approved scheme(s) of arrangements

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

x) Valuation of property, plant and equipment, intengible assets and investment property

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.

[44] Previous years’ figures have been regrouped / reclassified, wherever necessary, to conform with the current period presentation.

As per our report on even dated attached For and on behalf of the Board of Directors of

For M/s KRA & Co., M. K. Proteins Limited

Chartered Accountants CIN : L15500HR2012PLC046239

Firm Registration No.: 020266N

PARMOD KUMAR NEHA AGGARWAL

(Rajat Goyal) Managing Director Company Secretary

Partner 00126965

Membership No.: 503150

UDIN: 25503150BMJBZH8774 VINOD KUMAR

Place: Ambala Whole Time Director & CFO

Date: 23 May 2025 00150507

---

Mar 31, 2024

j) Provisions and contingent liabilities

Provisions

Provisions are recognized when there is a present legal or constructive obligation as a result of a past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities

Contingent liabilities are disclosed in the Notes to the standalone financial statements. They are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company, or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation, or a reliable estimate of the amount cannot be made.

k) Earning per shares

Basic earnings per share is calculated by dividing the net profit after tax for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares and sub-division of share, other than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

l) Foreign currency translation Functional and presentation currency

Items included in the standalone financial statements are measured using the currency of the primary economic environment in which the Company operates (‘the functional currency’). The standalone financial statements are presented in Indian Rupees (INR), which is Company’s functional and presentation currency. Transaction and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, as well as from the translation of monetary assets and liabilities denominated in foreign currencies at year-end exchange rates, are generally recognized in the Statement of Profit and Loss. Non-monetary items that are measured at historical cost in foreign currency are not retranslated. All nonmonetary items denominated in foreign currency are carried at historical cost or a similar valuation and are reported using the exchange rate that existed when the values were determined.

m) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating decision-maker. The Chief Operating decision-maker is responsible for allocating resources and assessing performance of the operating segments and makes strategic decisions. Refer Note 33 for segment information presented.

n) Exceptional items

When items of income or expense are of such nature, size and incidence that their disclosure is necessary to explain the performance of the Company for the year, the company makes a disclosure of the nature and amount of such items separately under the head “exceptional items.”

o) Statement of Cash Flow

Cash flows are reported using the Indirect Method, as set out in Ind AS 7 ‘Statement of Cash Flow’, whereby profit for the year is adjusted for the effects of transaction of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

[32] EMPLOYEE DEFINED BENEFIT AND CONTRIBUTION PLANS

a) Defined Benefit Plans

Gratuity: In accordance with the applicable laws, the Company provides for gratuity, a defined benefit retirement plan (“The Gratuity Plan”) for eligible employees. The Gratuity Plan provides a lump sum payment to vested employees upon retirement (subject to completion of five or more years of continuous employment), death, incapacitation or termination of employment. The payment amount is based on employee’s last drawn salary and tenure of service. Previously, the company calculated accruing gratuity liability based on the assumption that such benefits would be payable to all employees at the end of the accounting year, subject to annual review. However, the company now recognizes liabilities related to the Gratuity Plan on an actuarial valuation on the reporting date. Currently, the company’s Gratuity Plan is not funded by any qualified assets. The disclosure in respect of the defined Gratuity Plan is given below:

[37] FINANCIAL RISK MANAGEMENT

The company’s activity exposes itself to variety of financial risk which includes market risk, credit risk, liquidity risk and interest rate risk. The Company has various financial assets such as deposits, trade receivables and cash and cash equivalent directly related to its business operations. The principal financial liabilities of the company consist of borrowings and trade payables. The senior management of the company focuses on anticipating unpredictability and minimizing potential adverse effects on the company’s financial performance. The Company’s overall risk management procedures to mitigate the potential adverse effects of financial market on the Company’s performance are as follows:

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as commodity risk. The Company’s exposure to market risk is primarily on account of interest risk, foreign currency risk and Commodiy price risk.

i) Interest rate risk management:

The Company is exposed to interest rate risk due to borrowings funds at both fixed and floating interest rates. This risk is managed by maintaining an appropriate mix between fixed and floating rate borrowings.

Interest rate sensitivity analysis

The sensitivity analysis below is based on the exposure to interest rates at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for entire year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel, representing management’s assessment of the reasonably possible change in interest rates.

If interest rates had been 50 basis points higher/lower and all other variables were held constant, the Company’s Profit for the year ended March 31, 2024 would decrease/increase by Rs.954530.00 (for the year ended March 31, 2023: decrease/increase by Rs.2226174.00). This change is mainly attributable to the Company’s exposure to interest rates on its variable rate borrowings.

ii) Foreign currency exchange rate risk

Fluctuation in foreign currency exchange rates may potentially impact the statement ofprofit and loss, other comprehensive income and equity, where any transaction references more than one currency or where assets/liabilities are denominated in a currency other than the functional currency ofthe respective entities. Considering the countries and economic environment in which the Company operates, its operations are subject to risks arising from fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in other currency against the functional currencies of the Company.

The Company is exposed to foreign exchange risk solely through the import ofmaterial from overseas suppliers in foreign currencies. The total exposure in foreign currency during the year ended March 31, 2024 was Rs.67652436.78 (compared to Rs. 251780370.00 for previous year ended March 31, 2023) which represents approximately 3% and 8% of total purchases for the respective period. There were no outstanding import payables at the end of the reporting period. Due to negligible volume of import transactions in foreign currency, the company primarily meets its liabilities by procuring foreign currency in the open market at the time of paying its import liabilities. The Company also evaluates the impact offoreign exchange rate fluctuations by assessing its exposure to exchange rate risks to the extent required. The Company does not enter into any derivative financial instruments to hedge its risk exposures.

iii) Commodity Price Risk

The Company is exposed to the risk of changes in commodity prices, particularly related to its purchase of raw materials, especially crude edible oil and chemicals.

The Company develops periodic financial forecasts based on commodity price forecasts by its procurement group and appropriate actions including changes in selling price and cost saving measures are considered as part of the financial modeling to mitigate the impact of commodity price changes.

A 1% increase in commodity prices would have led to approximately Rs.22456274.00 additional loss in the Statement of Profit and Loss (2022-23: Rs.30690279.00 loss). Conversely, a 1% decrease in commodity prices would have had an equal but opposite effect.

b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities (particularly trade receivables). To manage this risk, the Company consistently monitors the financial health of its customers, ensuring that sales proceeds are realized according to milestone payment terms to minimize losses from defaults or customer insolvency. Progressive liquidity management practices are employed to mitigate the risk of non-fulfillment of liabilities to various creditors, statutory obligations and stakeholders.

Trade Receivables

The Company’s exposure to trade receivables is mitigated by a diversified customer base. The Credit quality of customers is assessed using an extensive credit rating scorecard, and individual credit limits are defined on this assessment. Additionally, a significant portion ofCompany sales involve advance payment or collection on delivery terms, further reducing credit risk. The Company consistently monitors contract progress with customers and ensures sales proceeds align with milestone payment terms to minimize potential losses from defaults or customer insolvency. An impairment analysis is conducted at each reporting date on a per-client basis for major clients. Management continuously monitors credit exposure to customers and provision against balances deemed doubtful of recovery.

In determining the allowance for doubtful trade receivables the Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix. The provision matrix takes into account historical credit loss experience and is adjusted for forward looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due and the rates as per the provision matrix.

Allowance for expected credit loss is based on lifetime expected credit loss method as specified under simplified approach as per Ind AS 109.

[41] NOTE ON TRANSITION TO IND AS

For reporting purposes as outlined in Note 2, we have transitioned our basis of accounting from Indian Generally Accepted Accounting Principles ("GAAP") to Ind AS. The accounting policies detailed in Note 2 have been applied in preparing the financial statements for the year ended March 31, 2024. The comparative information presented in theses financial statements for the year ended March 31, 2023, and in the preparation of an opening Ind AS balance sheet as of April 1, 2022 (the "transition date"). In preparing our opening Ind AS balance sheet, we have made certain adjustment to amounts reported in financial statements prepared in accordance with GAAP. As explanation of how the transition from GAAP to Ind AS has affected our financial position and performance is provided in the following tables. Upon transition, we did not revise estimates previously made under GAAP except where required by Ind AS.

Exemptions availed

Ind AS 101 allows first-time adopters certain exemptions from the retrospective application of certain requirements under Ind AS. The Company has applied the followings exemptions:

-Since there is no change in the functional currency, the Company has elected to continue with the carrying value for all of its property, plant and Equipments and other assets as recognised in its GAAP financials as deemed cost at the transition date.

-As per Ind AS 116 Leases, the Company has adopted the standard for all lease contracts existing on 1st April 2022 using the full retrospective approach. These leases were classified as "Operating Leases" under previous GAAP. On transition to Ind AS 116 "Leases", the Company has recorded the ROU assets and lease liability (Including provision for estimated dismantling costs) as of April 1, 2022, using discounting values as of April 1, 2021 (date of lease comencement). The difference between the ROU asset and Lease liability will impact retained earnings as of April 1, 2022.

-The Company has applied the requirements for de-recognition of financial instruments, as required in Ind AS 109 financial instruments prospectively for financial transactions occurring on or after April 1, 2022, the date of transition to Ind AS.

-The Company has applied classification and measurement of financial assets on the basis of facts and circumstances that existed on the date of transition to Ind AS. Estimates

The Company estimates in accordance with Ind AS at the date oftransition to Ind AS are consitent with estimates made for the same date in accordance with previous

GAAP.

The estimates used by the Company to present these amounts in accordance with Ind AS reflect conditions at April 1, 2022, the date oftransition to Ind AS and as of March 31, 2023.

iii) Reconcilation to Statement of Cash Flow

There are no material adjustments to the Statement of Cash Flows as reported under the Previous GAAP

Notes to reconcilations between Previous GAAP and Ind AS

a) Transition to Ind AS 116 Leases:

As per Ind AS 116 Leases, the Company has adopted the standard for all lease contracts existing on 1st April 2022 using the fully retrospective approach. These leases were classified as "Operating Leases" under previous GAAP. On transition to Ind AS 116 "Leases", for these leases, lease liabilities (Including provision for estimated dismantling costs) are measured at the present value of the lease payments using the full retrospective approach (i.e. from the date of commencement of the lease, April 1, 2021), discounted at the Company''s incremental borrowing rate as of April 1, 2021. The carrying amount of the Right of use (ROU) assets is calculated as if Ind AS 116 had been applied since the commencement date, using the incremental borrowing rate as of that date.

The Company has recorded the ROU assets Rs.10001195.00 and lease liability (Including provision for estimated dismantling costs) Rs.10788897.00 as ofApril 1,2022, using discounting values as of April 1, 2021. The difference between the ROU asset and Lease liability Rs.787702.00 will impact retained earnings as of April 1, 2022. Due to transition, the nature of expenses related to operating leases has changed from "Lease Rent" to "depreciation cost" and "finance cost" for the right-of-use assets and for interest accrued on lease liability respectively. Therefore, these expenses for the current year and previous year have been reclassified accordingly. The net effect of this change is a decrease in total equity as at March 31, 2023 ofRs.601607.00 [Net of Tax Effect Rs.202358.00] and decrease in total profit forthe year ended March 31, 2023 of Rs.601607.00

b) Under the previous GAAP, provision for doubtful debts on trade receivables were carried on the basis ofan incurred loss model. As per Ind AS, the Company is required to apply expected credit loss model for recognising the allowance for doubtful debts. As a results there is an increase in the amount of allowance for doubtful debts and corresponding deferred tax has also been recognised. The net effect of this change is a increase in total equity as at March 31,2023 ofRs.3545638.00 [Net of Tax Effect Rs.1192619.00] (Decrease in total equity Rs.6173447.00 as at April 1, 2022 [Net ofTax Effect Rs.2076515.00]) and increase in total profit forthe year ended March 31, 2023 of Rs.3545638.00.

c) In accordance with the applicable laws, the Company provides for gratuity, a defined benefit retirement plan (“The Gratuity Plan”) for eligible employees. The Gratuity Plan provides a lump sum payment to vested employees upon retirement (subject to completion offive or more years ofcontinuous employment), death, incapacitation or termination of employment. The payment amount is based on employee’s last drawn salary and tenure of service. Previously, the company calculated accruing gratuity liability based on the assumption that such benefits would be payable to all employees at the end of the accounting year, subject to annual review. However, the company now recognizes liabilities related to the Gratuity Plan on an actuarial valuation on the reporting date. Currently, the company’s Gratuity Plan is not funded by any qualified assets.

The net effect of this change is a decrease in total equity as at April 1, 2022 of Rs.232114.00 [Net ofTax Effect Rs.78075.00]. Actuarial losses as at April 1, 2022 were Rs.275899.00 and the tax effect thereon is Rs.69444.00. The effect of this change is an increase in retained earnings of Rs.206455.00 and recognized loss in Other Comprehensive income in Equity Rs.206455.00. In the year ended March 31, 2023, the net effect of the change is an increase in total equity Rs.1370.00 [Net ofTax Effect Rs.462.00], a decrease in total profit of Rs.57923.00, and an increase in Other Comprehensive income of Rs.59293.00.

d) In relation to refund of Rs. 168700.00 for April 1, 2022, and Rs.4000.00 for March 31, 2023, adjusted by the department against outstanding demands under litigation, the company mistakenly debited these amounts to retained earnings instead of debiting them to income tax deposit against demands. This error and omission have now been rectified by applying the necessary corrections.

e) Deferred Tax on Ind AS Adjustment (Net): Tax adjustments include deferred tax impact on account of differences between Previous GAAP and Ind AS.

(1) Total Debts = Long term Loans Current maturities of Long term debts Lease Liabilities

(2) Shareholder''s Fund = Equity Share Capital Other Equity (i.e. Reserve and Surplus etc.)

(3) Earning for Debt Service = Net Profit befor taxes Depreciation and other amortization Long term debt interest Lease Finance Cost

(4) Debt Service = Long term debt interest Lease Payment Principal Repayment of Long term debt

(5) Average Inventory = (Opening Closing Balance)/2

(6) Average Trade Receivables = (Opening Closing Balance)/2

(7) Average Trade Payable = (Opening Closing Balance)/2

(8) Working Capital = Current Assets - Current Liabilities

(9) Capital Employed = Tangible Net Worth - Total Long Term Debts Lease Liabilities

43] RELATIONSHIP WITH STRUCK OFF COMPANIES:

The Company does not have any transaction with companies struck offunder Section 248 ofthe Companies Act, 2013 or Section 560 ofthe Companies Act, 1956, during the current year and in the previous year.

44] OTHER STATUTORY INFORMATION:

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

ii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

iv) The Company has not advanced or loaned or invested funds to any other persons(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.

v) 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.

vi) The Lender of the company has not declared company as willful defaulter and also company has not defaulted in repayment of loan to the lender.

vii) The Company has no subsidiary, associates and joint venture down word.

viii) The Company has not entered into any transaction which is not recorded in the books ofaccounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant Provisions of the Income Tax Act, 1961).

[45] Pursuant to Sections 61 and 63 of the Companies Act, 2013, pertaining to the increase in authorized share capital and the issuance of bonus share, the Company has not able to comply with the statutory obligation to file requisite Form SH-7 for the increase in Authorized Equity Share Capital from Rs.1500.00 Lacs to Rs.4000.00 Lacs, and Form PAS - 3 for the issuance of Bonus Shares (250248000 No.) to Equity Shareholder, as approved by Shareholders in their Extraordinary General Meeting held on March 4, 2024, and allotted to the eligible shareholders on March 15, 2024, with the Registrar of Companies within due date. This delay is due to pending approval of the old form SH-7 dated October 25, 2023, regarding the sub-division ofEquity shares from Rs.10/- each to Rs.1/- each, which was pending with Registrar of Companies until March 31, 2024. Consequently, the above-mentioned forms were not filed within due date. However, the company has filed the pending documents in May 2024 and same have been duly approved by the Registrar of Companies on May 14, 2024 (SH-7) and May 16, 2024 (PAS-3) respectively.

[46] The Union Ministry ofLabour issued draft rules under section 67 of the Code on Wages Act on July 7, 2020, in the Gazette. The Act is yet to come into effect. The three labour codes i.e. the Occupational Health, Safety and Working Conditions Code 2020, the Industrial Relations Code 2020, and the Code on Social Security 2020, have been passed by the parliament and have also received the assent of the President of India on September 28, 2020. However, the date on which these Codes will come into effect has not been notified. The Company will assess the impact of these Codes and will record any related impact in the period these Codes become effective.

[47] Previous years’ figures have been restated to comply with IND AS to make them comparable with the current period. Further, previous years’ figures have been regrouped / reclassified, wherever necessary, to conform with the current period presentation.

As per our report on even dated attached For and on behalf of the Board of Directors

For M/s KRA & Co.,

Chartered Accountants Parmod Kumar Neha Aggarwal

Firm Registration No.: 020266N (Managing Director) (Company Secretary)

DIN: 00126965

(Rajat Goyal)

Partner Vinod Kumar

Membership No.: 503150 (Wholetime Director)

I''DLN'' : 24503150BKAH''W8606 DIN: 00150507

Place: Ambala Dated: 29th May 2024

---

Mar 31, 2023

Pursuant to Initial Public Offering (IPO), 1462000 Equity Shares of face value of Rs.10/- per share allotted on dated April 12, 2017 at a premium of Rs.60/- per share aggregating to Rs.1023.40 Lacs. Out of which 74000 Equity Shares reserved for subscription by Market Maker to the issue and balance 1388000 shares offered to the Public. The Company (i.e. Equity Shares) were listed on Emerge SME Platform of the National Stock Exchange of India Limited w.e.f. 18 April, 2017. During the Current year, the Company has decided to migrate its Equity Shares from Emerge SME Platform of the National Stock Exchange of India Limited to Main Board of National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange of India Limited (BSE) pursuant to a Shareholder’s resolution passed in the Extra Ordinary General Meeting held on December 22, 2022, which is under

c) Terms/rights attached to equity shares:

The Company has only one class of share capital, i.e. equity shares having face value of Rs.10/3 per share. Each holder of fully paid equity Share is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion of their shareholding.

d) The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding five years ended March 31, 2023 are 8341600 (Previous period of five years ended March 31,2022: 2031600 Shares)

e) The Authorized Share Capital of the Company was increased from Rs. 500.00 Lacs to Rs. 1500.00 Lacs by creation of 10000000 Equity Shares of Rs.10/- each pursuant to a Shareholder’s resolution passed in the Extra Ordinary General Meeting held on December 22, 2022.

f) The Company has declared 8341600 fully-paid-up equity Shares of Rs. 10/- each as Bonus shares in the ratio 2 : 1 pursuant to a Shareholder’s resolution passed in the Extra Ordinary General Meeting held on December 22, 2022 and allotted to the eligible shareholders on February 7, 2023.

g) Non of the Equity Shares has lock in restriction as at the end of the year 31st March 2023

h) The Company is neither a subsidiary nor a holding company of any other body corporate. Disclosures as regards the shareholdings in or by such body-corporate, accordingly, are not applicable on the company.

i) The company did not have outstanding calls unpaid by directors and officers of the company (Previous year NIL) and also did not have any amount of forfeited shares (Previous year NIL).

j) The Details of Shareholding of Promoters are given below: -

Term Loan (Car) from HDFC Bank Limited, Ambala Cantt amounting to Rs.1513192.04 [Previous year Rs.2555525.29]

-Nature of Security: Secured against hypothecation of car and personal guarantee given by the director Sh. Raj Kumar

-Repayment Profile: Repayable in 39 monthly installment commencing from May’ 2021 to July’ 2024 of sanctioned amount of Rs.34.47 Lacs.

Working Capital Term Loan under GECL Extn Scheme from HDFC Bank Limited amounting to Rs.25026074.00 (Previous Year Rs.25026074.00)

-Nature of Security: Secured by way ofhypothecation on entire stocks ofRaw Materials, Stock-in-Process, Finished Goods, Consumable Stores and Spares, Book Debts and all other Current assets of the Company wherever they are located and further secured by way of first charge on immovable and movable assets of the company.

-Repayment Profile: Repayable in 36 Monthly installment commencing from April’24 of Sanctioned amount of Rs.250.26 Lacs.

7(a)(i) Working Capital Loans from HDFC Bank Limited, Ambala Cantt amounting to Rs.418695528.38 [Previous Year Rs.340261856.96]

-Nature of Security: Secured by way of hypothecation on entire stocks of Raw Materials, Stock-in-Process, Finished Goods, Consumable Stores and Spares, Book Debts and all other Current assets of the Company wherever they are located and other current assets of the Company.

-Term of Repayment: Sanctioned facility Rs.1800.00 Lacs and Rs.1200.00 [Adhoc/Seasonal Cash Credit] repayable on demand during the facility tenure of 12 and 4 months

respectively.

Disclosure of payable to suppliers as defined under the “Micro, Small and Medium Enterprise Development Act, 2006” is based on the information available with the Company regarding the status of registration of such vendors under the said Act, as per the intimation received from them on requests made by the Company. There are no overdue principa amounts / interest payable amounts for delayed payments to such suppliers at the Balance Sheet date. There are no delays in payment made to such suppliers during the year an accordingly there is no interest paid or outstanding interest in this regard in respect of payment made during the year

Notes:

Provision for taxation on current profit: The Company has made the provision for current income tax liability based on the assessable profit as computed in accordance with the Income Tax Act, 1961.

in accordance with the Accounting Standard 22 "Accounting for Taxes on Income” the deferred tax liabilities (net) Rs.370649.00 has been adjusted by crediting to Statement of Profit and Loss during the current year and the total accumulated deferred tax assets (net) as on 31st March 2023 amounts to Rs.3372935.00 [Previous year Rs.3002286.00]

Note:

The Company does not have any diluted potential Equity Shares. Consequently the basic and diluted profit/earning per share of the Company remain same.

Earning Per Share (EPS) is calculated after adjusting for bonus equity shares issued, with restrospective effect as provided in Accounting Standard (AS-20) - Earning per Share,

0) 8341600 Equity Shares of Rs. 10/- were alloted as bonus shares on February 7, 2023 in the ratio of 2 : 1. Accordingly , the EPS has been calculated by taking retrospective effect of

this bonus issue.

a) The Balance Sheet as on March 31, 2023 and the Statement of Profit and Loss for the year ended March 31, 2023 are drawn and presented as per the revised format prescribed under Schedule M to the Companies Act, 2013.

b) Previous year figures have been re-grouped/re-classified where ever necessary to confirm to the current presentation.

c) Contingent Liabilities and Commitments (To the extent not provided for) -Contingent Liabilities (if any)	2022-23	2021-22
-Commitments	(Rs. in Lacs)	(Rs.1in1Lacs)
	NIL	NIL
	NIL	NIL

d) Management has periodically reviewed the value in use/net realizable value of all its assets and ascertained that the value in use/net realizable value of all its assets at the end of the year is more than the book value after depreciation (amortization), hence no provision for impairment has been made during the year.

e) In respect of provision for retirement gratuity benefits to employees, the company has decided to give the benefit out of its own funds and creates the provision of Rs. 216346.00 by charging to statement of profit and loss as accruing liability during the year. Due to few persons being employed in the company, the accruing liability has been calculated as per method on the assumption that such benefits are payable to all the employees at the end of the accounting year, reviewable every year. The total accumulated provision for retirement gratuity benefits to employees as on March 31, 2023 amounts to Rs.989423.00 (Previous year Rs. 773077.00).

fj The Company has taken into account all the possible impacts of COVID-19 in preparation of standalone financial statements, including but not limited to its assessment of,

liquidity and going concern assumption, recoverable values of its financial and non-financial assets. The Company has carried out this assessment based on available internal and external sources of information up to the date of approval of standalone financial statements and believes that the impact of COVID-19 is not material to these financial statements and expects to recover the carrying amount of its assets. The impact of COVID-19 on the standalone financial statements may differ from that estimated as at the date of approval of these standalone financial statements owing to the nature and duration of COVID-19.

g) The Company has elected to exercise the option permitted under section 115 BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) ordinance 2019, Accordingly, the Company has recognized the provision for Income tax for the year ended March 31, 2023.

^B) Other Statutory Information:

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

* The Company does not have any transactions with companies struck off.

* The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period except few charges yet to be satisfied.

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

* The Lender of the company has not declared company as willful defaulter and also company has not defaulted in repayment of loan to the lender.

* The Company has no subsidiary, associates and joint venture down word.

* The company has not surrendered or disclosed any amount as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961), which are

unrecorded in the books of account of the company.

* The Company has not advanced or loaned or invested funds (either from borrowed funds or share premium or any other sources or kind of funds) to any other person or entities, including foreign entities (“Intermediaries”), with the understanding (whether recorded in writing or otherwise) that the Intermediary shall Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Company or -Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

1

The Company has not received any fund from any persons or entities, including foreign entities ("Funding Parties”), with the understanding (whther recorded in writing or

otherwise) that the company shall: - Directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever - Proivide any guarantee, security or

the like from or on behalf of the ultimate beneficiares: and Beneficiaries”) by or on behalf of the Company

---

Mar 31, 2018

[A] General Information

M. K. Proteins Limited (‘toe Company’) is a public limited company. The registered office of the Company is situated at Village Garnala, Naraingarh Road, Tehsil and Distt. Ambala (Haryana) — 134003. The Company is engaged in manufacturing of Vegetable Refined Oil and by-products (i.e. Rice Bran Fatty, Wax, Gums and Spent Earth) etc. The manufacturing plant is situated at Village Garnala, Naraingarh Road, Tehsil and Distt. Ambala (Haryana). The Company is also engaged in trading of various products (i.e. Rice Bran Oil and other items etc.). The equity shares of the Company have been listed on the Emerge SME Platform of the National Stock Exchange of India Limited w.e.f. 18 April, 2017.

[1] OTHER NOTES FORMING PART OF THE ACCOUNTS

a) The Balance Sheet as on March 31, 2018 and the Statement of Profit and Loss for the year ended March 31, 2018 are drawn and presented as per the new format prescribed under Schedule III to the Companies Act, 2013.

b) Previous year figures have been re-grouped/re-classified where ever necessary to confirm to the current presentation.

c) Contingent Liabilities and Commitments (To the extent not provided for)

2017-18 2016-17

(Rs. in Lacs) (Rs. in Lacs)

-Contingent Liabilities (if any) NIL NIL

-Commitments NIL NIL

d) Management has periodically reviewed the value in use/net realizable value of all its assets and ascertained that the value in use/net realizable value of all its assets at the end of the year is more than the book value after depreciation (amortization), hence no provision for impairment has been made during the year.

e) In respect of provision for retirement gratuity benefits to employees, the company has decided to give the benefit out of its own funds and creates the provision of Rs.104422.00 by charging to statement of profit and loss as accruing liability during the year. Due to few persons being employed in the company, the accruing liability has been calculated as per method on the assumption that such benefits are payable to all the employees at the end of the accounting year, reviewable every year. The total accumulated provision for retirement gratuity benefits to employees as on March 31, 2018 amounts to Rs.311538.00 (Previous year Rs.207116.00).

f) Pursuant to Initial Public Offering (IPO), 1462000 Equity Shares of face value of Rs.10/- per share allotted on dated April 12, 2017 at a premium of Rs.60/- per share aggregating to Rs.1023.40 Lacs. Out of which 74000 Equity Shares reserved for subscription by Market Maker to the issue and balance 1388000 shares offered to the Public. The Company has incurred expenses of Rs.4182639.00 (net of service tax) relating to fresh issue of equity shares which has been adjusted to securities premium in terms of Section 52 of the Companies Act, 2013. The equity shares have been listed on the Emerge SME Platform of the National Stock Exchange of India Limited w.e.f. 18 April, 2017.

The IPO proceeds of Rs.1023.40 Lacs were fully utilized as per terms of prospectus. The deviations in utilization of proceeds were adjusted among various heads internally.

g) RELATED PARTY DISCLOSURES :

During the year, the company has carried out some transactions with the following persons, firms (in which the directors of the company are interested) related to expenditure and other transactions. The details of the same are as under: -

A. Related parties and their relationship

1. Key Management Personnel

-Sh. Vinod Kumar (Managing Director)

-Sh. Raj Kumar (Whole time Director)

-Sh. Parvind Kumar (Director)

-Sh. Parmod Kumar (Non-Executive Director)

-Sh. Nipun Garg (Chief Financial Officer)

2. Relatives of Key Personnel

-Sh. Madan Lal, Smt. Kamla Rani, Smt. Teena Garg, Smt. Shivani Garg, Smt. Sunila Garg, Smt. Sheel Garg, Smt. Saumya Garg Sh. Pragun Garg, Sh. Neelash Garg, Miss Eshika Garg and Miss Kritika Garg etc.

3. Enterprises owned or significantly influenced by key management personnel or their relatives

-M/s Shivalik Steels & Alloys (P) Ltd., Barotiwala (H.P.)

-M/s Kamla Oleo (P) Ltd., Barotiwala (H.P.)

-M/s Shree Ganesh Fats Private Limited, Barotiwala (H.P.)

-M/s Kamla Oils and Fats Private Limited, Village Saha, Distt. Ambala (Haryana)

-M/s Shib Charan Dass Industries Private Limited, Ambala

-M/s Saatvik Green Energy Private Limited, Ambala

j) Additional Information:

1) Details of Raw Materials, Purchase of stock-in-trade, Sales and Inventories are broadly given in respective note no. 21,22, 19 and 14.

Note

Pursuant to Initial Public Offering (IPO), 1462000 Equity Shares of face value of Rs. 10/- per share allotted on dated April 12, 2017 at a premium of Rs.60/- per share aggregating to Rs.1023.40 Lacs. Out of which 74000 Equity Shares reserved for subscription by Market Maker to the issue and balance 1388000 shares offered to the Public. The Company (i.e. Equity Shares) were listed on Emerge SME Platform of the National Stock Exchange of India Limited w.e.f. 18 April, 2017. The Company has incurred expenses of Rs.4182639.00 (net of service tax) relating to fresh issue of equity shares which has been adjusted to securities premium in terms of Section 52 of the Companies Act, 2013.

c) Terms/rights attached to equity shares:

The Company has only one class of share capital, i.e. equity shares having face value of Rs.10/- per share. Each holder of fully paid equity Share is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion of their shareholding.

d) The aggregate number of equity shares allotted as fully paid up byway of bonus shares in immediately preceding five years ended March 31, 2018 are 2031600 (Previous period of five years ended March 31, 2017: 2031600 Shares)

_e) The Initial Authorized Capital of Rs.10000000.00 (Rupees One Crore only) consisting of 100000 Equity Shares of face value of Rs.100/- each was sub-divided into Rs.10000000.00 (Rupees One Crore only) consisting of 1000000 Equity Shares of face value of Rs.10/- each pursuant to a resolution of shareholders dated December 17, 2016. Consequently each Equity Shares of face value of Rs.100/- each has been split into 10 Equity Shares having face value of Rs.10/-.

f) The Authorized Share Capital of the Company was increased from Rs. 100.00 Lacs to Rs. 500.00 Lacs by creation of 4000000 Equity Shares of Rs.10/- each pursuant to a Shareholder''s resolution passed in the Extra Ordinary General Meeting held on January 20, 2017.

g) The Company has declared 2031600 fully-paid-up equity Shares of Rs. 10/- each as Bonus shares in the ratio 3 : 1 pursuant to a Shareholder''s resolution passed in the Extra Ordinary General Meeting held on January 20, 2017 and allotted to the eligible shareholders on February 15, 2017.

h) Lock in Restricitions: Promoter''s Equity Shares 946800 and 1762000 are subject to lock in restricition for the period of 3 and 1 year respectively.

i) The Company is neither a subsidiary nor a holding company of any other body corporate. Disclosures as regards the shareholdings in or by such body-corporate, accordingly, are not applicable on the company.

j) The company did not have outstanding calls unpaid by directors and officers of the company (Previous year NIL) and also did not have any amount of forfeited shares (Previous year NIL).