Notes to Accounts of M P Agro Industries Ltd.

Mar 31, 2024

29(B): CAPITAL MANAGEMENT

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves
attributable to the equity shareholders of the Company. The primary objective of the Company when managing
capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to
maximize shareholder value.

As at 31st March, 2024, the Company has only one class of equity shares and has low debt. Consequent to such
capital structure, there are no externally imposed capital requirements.

29(C): FINANCIAL RISK MANAGEMENT - OBJECTIVES AND POLICIES

The Company''s activities expose it to a variety of financial risks: Market risk, credit risk, liquidity risk. The Company
has a risk management policy which covers risks associated with the financial assets and liabilities. The risk
management policy is approved by the Board of Directors. The focus of the policy is to assess the upredictability of
the financial environment and to mitigate potential adverse effects on the financial performace of the company.

1. 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 risks: interest rate risk, currency risk and other price
risk.

a. Interest Rate Risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. Since the Company has insignificant interest bearing borrowings, the exposure to
risk of changes in market interest rates is minimal. The Company has not used any interest rate derivatives.

b. Foreign Currency Risk

The Company operates internationally and portion of the business is transacted in several currencies and
consequently the Company is exposed to foreign exchange risk through its sales and services in overseas markets and
purchases from overseas suppliers in various foreign currencies. Foreign currency exchange rate exposure is partly
balanced by purchasing of goods, commodities and services in the respective currencies.

Particulars of unhedged foreign currency exposures as at the reporting date are given as part of Note 22.

The below table demonstrates the sensitivity to a 5% increase or decrease in the Foreign Currency against INR, with
all other variables held constant. The sensitivity analysis is prepared on the net unhedged exposure of the Company
as at the reporting date. 5% represents management''s assessment of reasonably possible change in foreign exchange

2. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from the Company''s receivables from customers and
investment securities. Credit risk arises from cash held with banks and financial institutions, as well as credit exposure
to clients, including outstanding accounts receivable. The maximum exposure to credit risk is equal to the carrying
value of the financial assets. The objective of managing counterparty credit risk is to prevent losses in financial assets.
The Company assesses the credit quality of the counterparties, taking into account their financial position, past
experience and other factors.

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer operates,
also has an influence on credit risk assessment. The Company''s exposure are continuously monitored.

3. Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet
its liabilities when due.

The Company consistently generates sufficient cash flow from operations to meet its financial obligations as and
when they fall due.

The tables below provides detail regarding the contractual maturities of significant financial liabilities as at 31st
March 2023 and 31st March 2022"

Note: 31 Other Statutory Disclosures

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

2. The Company has not advanced any loans or advances in the nature of loans to specified persons viz.
promoters, directors, KMPs, related parties; which are repayable on demand or where the agreement does
not specify any terms or period of repayment.

3. The Company has utilised funds raised from issue of securities or borrowings from banks and financial
institutions for the specific purposes for which they were issued/taken.

4. The Company has not any obtained borrowings from banks or financial institutions on the basis of security of
current assets.

5. The Company has not been declared as a wilful defaulter by any lender who has powers to declare a
company as a wilful defaulter at any time during the financial year or after the end of reporting period but
before the date when financial statements are approved.

6. 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.

7. 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

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

9. The Company does not have any transaction which is not recorded in the books of accounts but 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).

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

11. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the
Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

12. "The company has not revalued its Property, Plant and Equipment (PPE), Intangible Assets (IA) and
Investment Properties (IP) during the financial year."

13. The company has complied with the provisions of the Section 135 of The Companies Act, 2013 and
accordingly the company is not liable for spending any amount as Corporate Social Responsibility during the
financial year.

Note 32: Previous year''s figures have been regrouped /reclassified wherever necessary.

As per our report of even date attached FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

For VCA & ASSOCIATES

CHARTERED ACCOUNTANTS SHAMIM SHEIKH RAFIQUNNISA MERCHANT

Firm Reg. No. 114414W DIRECTOR & CHAIRMAN DIRECTOR & CFO

DIN: 02528327 DIN: 07758223

CA ASHOK THAKKAR, Mem. No. 048169 YUNUS R. MEMON ISHITA KAPURE

PARTNER, MANAGING DIRECTOR COMPANY SECRETARY

DIN: 01094396

VADODARA, 30^th MAY, 2024 VADODARA, 30^th MAY, 2024

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Mar 31, 2019

Note 1: In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

Note 2: There was no employee throughout the financial year or for a part of the financial year, who was in receipt of remuneration in aggregate of Rs. 60,00,000/- or more, per annum or Rs. 5,00,000/- or more per month.

Note 3: Managerial remuneration paid during the year Rs. 452,600/- (Previous Year Rs. 476,441/-) value benefits in cash.

Note 4: Figures in respect of Previous Year have been regrouped/rearranged wherever necessary as required by the provisions of Ind AS.

Note 5: Related Party Disclosure

1. Mrs. Rafiqunnisa Merchant - Director

^A. ^Key ^Manag^{ement Personnel} 2. Mrs. Shamim Sheikh - Director

3. Mr. Yunus R Memon - Director

4. Mr. Chaturbhai C. Patel - Director

5. Mrs. Saba Memon - Additional Director

6. CS Ishita Shah - Company Secretary

B. Associate Concerns of Key Management 1. Bharat Equity Services Limited Personnel 2. Bhavnagar Agro Industries Limited

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Mar 31, 2014

NOTE ''1''. BANKGROUND

M P Agro Industries Limited (the Company) is a public limited company listed on Bombay Stock Exchange Limited. It was incorporated on 04.12.1975 under the provisions of the Companies Act, 1956 having registered office at MIG - 44, Bharti Niketan, Near Gautam Nagar,Bhopal, Madhya Pradesh -462023. The Company''s objects are to carry on in India or in ay part of the World all kind of business relating to fertilizers, heavy chemicals and their by-products.

2. Terms/Right Attached to Shares

The Company has only one class of shares referred to as equity shares having a par value of'' Rs. 10. Each holder of equity shares is entitled to 1 vote per share with same rights, preferences. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Nature of Security :-The sale tax free loan from government of MP secured by Equitable Mortgage on immovable assets and hypothecation of movable assets

Note - 3: In the opinion of the Board, the Current Assets, Loans and Advances are : approximately of the value stated, if realised in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

Note - 4: There was no employee throughout the financial year or for a part of the financial year, who was in receipt of remuneration in aggregate of Rs. 60,00,000/- or more, per annum or Rs. 5,00,000/- or more per month.

Note - 5: Managerial remuneration paid during the year Rs. Nil ( Previous Year Rs. Nil) value benefits in cash or kind and commission paid to Managerial personnel Rs. Nil ( previous year Rs. Nil )

Note - 6: Figures in respect of Previous Year have been regrouped/rearranged wherever necessary.

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Mar 31, 2013

Note 1 - Basis of Preparation

The financial statements have been prepared in accordance with generally accepted accounting principles (Indian GAAP) prevalent in India. The financial statements have been prepared to comply in ail material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended and as applicable from time to time) and the relevant provisions of the Companies Act, 1956/The financial statements have been prepared on an accrual basis and under the historical cost convention

Note- 2 31st March 2013 31st March 2012 Contingent Liabilities not Provided for in respect of:

income Tax Act.

Based on legal advice, discussions with the solicitors etc. the management believes that there is fair chance of decisions in the Company''s favor in respect of all the items listed above and hence no provisions is considered necessary against the same. The management believes that the ultimate outcome of these proceedings will not have a material effect, on the company''s financial position and results of operations.

Notes to Accounts as on 31st March 2013

Note - 3: Books of Accounts of Baroda corporate office has been merged with the accounts of Bhopal Office.

Note - 4: Investments in Bharat Equity Services Ltd of Rs. 250 lacs at rate of Rs. 10 and same is face value of Investment (unquoted Investment). Since it is unlisted Market Value is at par.

Note - 5: Secured Loans of Rs.38.44 Lacs are from (Vladhya Pradesh State Industrial Development Corporation Limited are still unpaid.

Note-6: Contingent Liabilities:

2013 2012 (Rs. in Lacs) (Rs. in Lacs)

(a) Bank Guarantee issued in favour of Chhatisgarh Commercial Tax. 0.05 0,05

Note - 7: Legal & Professional charges Include payments to auditors for;

Note - 8: Some of the Debtors, Loans & Advances are unconfirmed.

Note - 9: Managerial remuneration paid during the year Rs. Nil (Previous year Rs Nil) value benefits in cash or kind and commission paid to Managerial personnel Rs. Nil (previous years Rs Nil).

Note - 10: No Provision for Income Tax made during the year. No assessment proceedings pending against the Company during the year 2012-13.

Note - 11: Related party disclosure- During the year company entered in to transactions with related parties those transactions along with related balances as at 31-03-2013 and for the year then ended are presented in the following table.

Note - 12: No Depreciation has been charged during the year.

Note - 13: Figures in respect of the previous year have been regrouped/ rearranged wherever necessary.

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Mar 31, 2010

1. Books of Accounts of Baroda corporate office has been merged with the accounts of Bhopal Office.

2. Investments includes Rs. 250.00 Lacs as Investments to sister concerns. No Dividend or Income Accrued/ received during the year.

3. Sundry Creditors includes Rs. 107.17 Lacs to Sister concerns which is subject to confirmation.

4. Contingent Liabilities: 2010 2009

(a) Bank Guarantee issued in favour of

Chhatisgarh Commercial Tax. 0.05 0.05

5. Debtors, Loans & Advances are unconfirmed.

6. Managerial remuneration paid during the year Rs. Nil (Previous year Rs Nil) value benefits in cash or kind and commission paid to Managerial personnel Rs. Nil (previous years Rs Nil)

7. Sales Tax interest Free Loan Rs 16.34 Lacs has become overdue during the immediately preceding financial year which includes penal interest of Rs. 9.56 lacs not provided for the account.

8. Term Deposit of Rs. 0.05 with State Bank of Indore is lodged as Security for Margin money against B/G given by bank for Rs. 0.05.

9. No Provision for Income Tax made during the year.

10. Related party disclosure- During the year company entered in to transactions with related parties those transactions along with related balances as at 31- 03-2009 and for the year then ended are presented in the following table.

a. Managerial Personnel : Mr. Abdul Razak Dhanani

Mr. Kantilal R. Patni

Mr. Yunus R. Memon

b. List of related parties with whom Transaction has taken place during the year along with nature and value of transaction

11. Figures in respect of the previous year have been regrouped/ rearranged wherever necessary.