Notes to Accounts of National Plastic Technologies Ltd.

Mar 31, 2025

2.15 Provisions, Contingent Liabilities, Contingent Assets and Commitments

Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
Contingent liability is disclosed in the case of:

A present obligation arising from the past events, when it is not probable that an outflow of resources
will be required to settle the obligation;

A present obligation arising from the past events, when no reliable estimate is possible;
A possible obligation arising from the past events, unless the probability of outflow of resources is
remote.

Commitments indude the amount of purchase order (net of advances) issued to parties for
completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance
sheet date.

2.16 Cash flow statement

Cash flow are reported using the indirect method, whereby net profit before tax is adjusted for the
effects of transactions of a non-cash nature, any deferrals of 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 finance activities of the Company are
segregated.

2.17 Lease

The Company’s lease asset dasses primarily consist of leases for land and building. The Company
assesses whether a contract contains a lease at the inception of a contract. Acontract is, or contains,
a lease if the contract conveys the right to control the use of an identified asset for a period of time in
exchange for consideration. To assess whether a contract conveys the right to control the use of an
identified asset, the Company assesses whether: (i) the contract involves the use of an identified
asset (ii) the Company has substantially all of the economic benefits from use of the asset through the
period of the lease and (iil) the Company has the right to direct the use of the asset. At the date of
commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a
corresponding lease liability, as per IND AS 116 "Leases", for all lease arrangements, in which it is a
lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases.
For these short-term and low-value leases, the Company recognises the lease payments as an
operating expense on a straight-line basis over the term of the lease.

2.18 Earnings per share

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

2.19 Foreign currency translation

I) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic
environment in which the Company operates (" the functional currency") i.e. In Indian Rupees (INR)
and all values are rounded of to nearest lakhs except otherwise indicated,
ii) Transactions and balances

Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of
transaction

a) Foreign currency monetary assets and liabilities such as cash, receivables, payables etc., are
translated at year end exchange rates.

b) Non-monetary items denominated in foreign currency such as investments, fixed assets, etc. are
valued at the exchange rate prevailing on the date of transaction.

c) Exchange differences arising on settlement of transactions and translation of monetary items are
recognised as income or expense in the year in which they arise. However, exchange gain or loss on
settlement of transactions related to fixed assets are capitalised to the respective assets.

2.20 Borrowing cost:

General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalised during the period of time that is required to complete
and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a
substantial period of time to get ready for their intended use or sale. Other borrowing costs are
expensed in the period in which they are incurred.

a) Rights, preferences and restrictions attached to shares

Equity shares

TheCompanyhasonedassofequityshareshavingaparvalueof'' Rs10 /- each. Each shareholder is entitled to
such rights as to attend and vote at the meeting of the shareholders, to receive dividends distributed and also has
right in the residual interest of the assets of the Company. Every shareholder is also entitled to right of inspection
of documents as provided in the Companies Act, 2013. There are no restrictions attached to equity shares.

The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual
General Meeting, except in case of interim dividend

Note 32

Change in Accounting Policy - Leave Encashment

During the financial year ended 31.03.2025, the Company has changed its accounting policy for Annual leave
encashment liabilities. Previously, the Company recognized leave encashment expenses on a calendar year
basis i.e., for annual leave entitlement on an calendar year basis.

Effective financial year ended 31.03.2025, based on professional advice, the Company has adopted financial
year basis. Under the revised policy, the Company now recognizes the present value of the obligation for leave
encashment.

Note 33

Change in Accounting Policy - Bonus

During the financial year ended 31.03.2025, the Company has changed its accounting policy for Annual Bonus.
Previously, the Company recognized Bonus on festival (Diwali) yearly basis.

Effective financial year ended 31.03.2025, based on professional advice, the Company has adopted financial
year basis. Under the revised policy, the Company now recognizes the present value of the obligation for Bonus
payable.

This change provides a more accurate representation of the Company''s financial obligations and aligns with the
principles of accrual accounting and ICAI guideline.

(b) Fair value hierarchy

The company uses the following hierarchy for determining and disclosing the fair value of financial instalments by
Valuation technique:

LEVEL 1- Quoted ( Unadjusted) in active markets for identical assets or liablities.

LEVEL 2 - Other techniques for which all inputs which have a significant effect on the recorded fair value are observable,
either direclly or indirectly.

LEVEL 3 - Techniques which use inputs that have a significant effect on recorded fair value that are not based on

II Financial Risk Management

The board of directors (BOD) has overall responsibility for the establishment and oversight of the Company''s risk
management framework and thus established a risk management policy to identify and analyse the risk faced by company
. Risk management systems are reviewed by BOD periodically to reflect changes in market conditions and the Company’s
activities. The Company through its training and management standards and procedures develop a disciplined and
constructive controlled environment The Audit committee oversees how management monitors compliance with the
Company''s risk management policies and procedures, and reviews the risk management framework.

The board of directors regularly reviews these risk and approves the risk management policies,
which covers the management of these risk :
a) CREDIT RISK

The risk of financial loss to the company If the customer or counter party to the financial Instruments falls to meet Its
contractual obligations and arises principal from the company''s receivables, treasury operations and other operations that
are in the nature of lease.

1a) Receivables

The company''s exposure to credit is influenced mainly by the individual characteristic of each customer. The company
extended credit to its customers in normal course of business by considering the factors such as financial reliability of
customers. The company evaluates the concentration of the risk with the respect to trade receivables as low, as its
customers arelocated in several jurisdictions and operate in largely independent markets.

1b) Financial instruments and cash deposits.

Investments are made only with the approved counter parties. The company places its cash Equivalents based on the
creditworthiness of the financial institutions.

b) Liquidity risk

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an
appropriate liquidity risk management framework for the management of the Company''s short, medium and long term
funding and liquidity management requirements.

b) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in market
interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarly to the Company''s
debt obligations with floating interest rates. Any changes in the interest rates environment may impact future cost of
borrowings. The Company monitors the movements in interest rates and wherever possible, reacts to material
movements in such interest rates by restructuring its financing arrangements.

For the year ended March 31,2025 and March 31,2024, every 1 % increase / decrease of the floating rate of interest would
impact profit before tax by 1 (16.82 lakhs)/116.82 lakhs and 1(18.99 lakhs) /118.99 lakhs respectively.

c) Revenue concentration risk

Revenue concentration risk is the level of risk the customer base hold as a result of relying on a small percentage of
customers. The company exposure to revenue concentration risk is the concentraton of few customer in the Company
turnover. Top 3 customers account for 81.59% and 82.08% of the company''s turnover for the FY 24-25 and FY 23-24
Respectively.

Ill CAPITAL MANAGEMENT

For the purpose of company''s capital management, capital includes issued equity share 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 maximize the shareholders wealth. The company manages its capital structure and makes adjustments in the light of
changes in economic conditions and the requirements of thefinancial covenants.

43 Additional Regulatory Disclosures as per Schedule III of Companies Act, 2013:

a) The Title deeds of the immovable properties (other than properties where the Company is the Lessee and the
lease agreements are duly executed in favour of the lessee) are held in the name of the Company.

b) The Company does not have any investment property.

c) As per the Company''s accounting policy, Property. Plant and Equipment (including Right of Use Assets) and
intangible assets are carried at historical cost (less accumulated depreciation & impairment, if any), hence the
revaluation related disclosures required as per Additional Reg Jatory Information of Schedule III (revised) to the
Companies Act, is not applicable.

d) The Company has not granted Loans or Advances in the nature of loan to any promoters, Directors, KMPs and
the related parties (As per Companies Act, 2013), which are repayable on demand or without specifying any terms
or period or repayments.

e) No Proceedings have been initiated or pending against the Company for holding any Benami property under
the Benami Transactions (Prohibition)Act, 1988 (45of 1988)and the rules madethereunder.

f) The Company has been sanctioned facilities from banks on the basis of security of current assets and
immovable properties. The periodic returns filed by the Company with such banks are In agreement with the
books of accou rrtsoftheCompany.

For C A Patel & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No : 014055S

RAJESH MODI Arihant Parakh Sudershan Parakh

Partner Managing Director Director

Membership No : 027425 DIN : 07933966 DIN: 01161124

UDIN No.: 25027425BMNYUA5625

Place: Chennai S.Abishek Manikandan Ramasamy

Date: 27th May, 2025 Company Secretary Chief Financial Officer

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Mar 31, 2024

2.15 Provisions, Contingent Liabilities, Contingent Assets and Commitments

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Contingent liability is disclosed in the case of:

A present obligation arising from the past events, when it is not probable that an outflow of resources will be required to settle the obligation;

A present obligation arising from the past events, when no reliable estimate is possible; A possible obligation arising from the past events, unless the probability of outflow of resources is remote.

Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

2.16 Cash flow statement

Cash flow are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals of 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 finance activities of the Company are segregated.

2.17 Lease

The Company''s lease asset classes primarily consist of leases for land and building. The Company assesses whether a contract contains a lease at the inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset. At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a corresponding lease liability, as per IND AS 116 "Leases", for all lease arrangements, in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease.

2.18 Earnings per share

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

2.19 Foreign currency translation

I) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which the Company operates (" the functional currency") i.e. In Indian Rupees (INR) and all values are rounded of to nearest lakhs except otherwise indicated. ii) Transactions and balances

Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

a) Foreign currency monetary assets and liabilities such as cash, receivables, payables etc., are translated at year end exchange rates.

b) Non-monetary items denominated in foreign currency such as investments, fixed assets, etc. are valued at the exchange rate prevailing on the date of transaction.

c) Exchange differences arising on settlement of transactions and translation of monetary items are recognised as income or expense in the year in which they arise. However, exchange gain or loss on settlement of transactions related to fixed assets are capitalised to the respective assets.

2.20 Borrowing cost:

General and specific borrowing costs that are directly attibutable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its i ntended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred.

a) Rights, preferences and restrictions attached to shares

Equity shares

The Company has one class of equity shares having a par value of '' Rs 10/- each. Each shareholder is entitled to such rights as to attend and vote at the meeting of the shareholders, to receive dividends distributed and also has right in the residual interest of the assets of the Company. Every shareholder is also entitled to right of inspection of documents as provided in the Companies Act, 2013. There are no restrictions attached to equity shares. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting, except incase of interim dividend.

II Financial Risk Management

The board of directors (BOD) has overall responsibility for the establishment and oversight of the Company''s risk management framework and thus established a risk management policy to identify and analyse the risk faced by company. Risk management systems are reviewed by BOD periodically to reflect changes in market conditions and the Company''s activities. The company through its training and management standards and procedures develop a disciplined and constructive controlled environment. The Audit committee oversees how management monitors compliance with the Company''s risk management policies and procedures, and reviews the risk management framework.

a) CREDIT RISK

The risk of financial loss to the company if the customer or counter party to the financial instruments fails to meet its contractual obligations and arises principality from the company''s receivables, treasury operations and other operations that are in the nature of lease.

1a) Receivables

The company‘s exposure to credit is influenced mainly by the individual characteristic of each customer. The company extended credit to its customers in normal course of business by considering the factors such as financial reliability of customers. The company evaluates the concentration of the risk with the respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

1b) Financial instruments and cash deposits.

Investments are made only with the approved counter parties. The company places its cash Equivalents based on the creditworthiness of the financial institutions.

b) Liquidity risk

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the Company''s short, medium and long term funding and liquidity management requirements.

b) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates. Anu changes in the interest rates environment may impact future cost of borrowings. The Company monitors the movements in interest rates and wherever possible, reacts to material movements in such interest rates by restructuring its financing arrangements.

For the year ended March 31,2024 and March 31,2023, every 1% increase/decrease of the floating rate of interest would impact profit before tax by Rs (18.99) lakhs/ Rs.18.99 lakhs and Rs.(17.15) lakhs/ Rs.17.15 lakhs respectively.

III CAPITAL MANAGEMENT

For the purpose of company''s capital management, capital includes issued equity share 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 maximize the shareholders wealth. The company manages its capital structure and makes adjustments in the light of changes in economic conditions and the requirements of the financial covenants.

34 SEGMENT INFORMATION

Operating Segments

The Company operates in one reportable business segment namely ‘Injection Moulded Plastic Products'' as per Ind AS 108 on ‘Operating Segments''.

Geographical Information:

The Company operates only in India.

Information about major customers:

During the years ended 31 March 2024 and 31 March 2023, revenues from transactions with a single customer amounting to 10% or more of the Company''s revenues from customers includes 3 customers amounting to ? 22,176.17 lakhs and ? 16,487.24 lakhs respectively.

41 Additional Regulatory Disclosures as per Schedule III of Companies Act, 2013:

a) The Title deeds of the immovable properties (other than properties where the Company is the Lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the Company.

b) The Company does not have any investment property.

c) As per the Company''s accounting policy, Property, Plant and Equipment (including Right of Use Assets) and intangible assetsare carried at historical cost (less accumulated depreciation & impairment, if any), hence the revaluation related disclosuresrequired as per Additional Regulatotory Information of Schedule III (revised) to the Companies Act, is not applicable.

d) The Company has not granted Loans or Advances in the nature of loan to any promoters, Directors, KMPs and the related parties (As per Companies Act, 2013), which are repayable on demand or without specifying any terms or period or repayments.

e) No Proceedings have been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

f) The Company has been sanctioned facilities from banks on the basis of security of current assets and immovable properties. The periodic returns filed by the Company with such banks are in agreement with the books of accounts of the Company.

g) The Company has adhered to debt repayment and interest service obligations on time. Wilful defaulter related disclosures required as per Additional Regulatory Information of Schedule III (revised) to the Companies Act, is not applicable.

h) There are no transactions with the Companies whose name are struck off under section 248 of The Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year ended 31st March 2024.

i) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have been filed. No registration or satisfaction is pending at the year ended 31st March 2024.

j) 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.

k) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act, 2013.

l) 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:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiary)

m) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)with the understanding (whether recorded in writing or otherwise) that the Company shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

ii) provide any guarantee, security or the like on behalf of the Ultimate beneficiaries.

n) The Company has not operated in any crypto currency or Virtual Currency transactions.

o) During the year the Company has not disclosed or surrendered, any income other than the income recognised in the books of accounts in the tax assessments under Income Tax Act, 1961.

p) In the opinion of the Board Assets other than Property, Plant and Equipment, Intangible Assets and non current investments does not have realisable value which is more than the carrying amount of the respective assets in ordinary course of business.

q) the Company has utilised the borrowings from banks and financial institutions for the specific purpose for which they were availed.

42 Previous year’s figures have been re-grouped/re-arranged wherever found necessary.

For C A Patel & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No : 014055S

RAJESH MODI Arihant Parakh Sudershan Parakh

Partner Managing Director Director

Membership No : 027425 DIN : 07933966 DIN : 01161124

UDIN No. : 24027425BKGUZT3486

Place : Chennai S. Abishek Manikandan Ramasamy

Date : 15th May, 2024 Company Secretary Chief Financial Officer

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Mar 31, 2015

1. Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilized Cenvat credit of Rs. 11,28,636 (Previous year Rs. 23,94,254/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2. The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) separately as per the Companies Act, 2013.

3. Previous year''s figures are re-grouped wherever considered necessary.

4. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5. Sales includes job work charges of Rs.44.68 Lakhs;(Previousyear-Rs.118.28lakhs)

6. Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognized on c/f unabsorbed depreciation and Business Loss as there is virtual certainty that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/Liabilities, based on the effect of the timing differences, as at 31st March 2015, are as under:

As a matter of prudence, deferred tax assets have been recognized only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

7. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8. Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 National Autoplast - Associate Concern

4 Mr. Sudershan Parakh - Key Management Personnel

5 Mrs. Manju Parakh - Key Management Personnel

6 Mr. Alok Kumar Parakh - Key Management Personnel

7 Mr. E .Balasubramanian - Key Management Personnel

8 Mr. Arihant Parakh -Relative

9 Mr Kesari Chand Bhutoria -Relative

9. Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earnings per share of the company remain the same.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/receipts are not discounted for future cash flows. 46 As per the representation received from the management there is no impairment of loss to fixed assets.

10. Lease payments and receipts

Lease payments have been made towards an operating lease. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

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Mar 31, 2014

As at As at 31.03.2014 31.3.2013 (Rs.in Lakhs) (Rs.in Lakhs)

1 Contingent Liability not provided for (Rs.in lakhs)

(i) Guarantee 9.00 9.00

(ii)Letterof Credit-Inland 0.00 0.00

(Hi) Letterof Credit-Foreign 0.00 0.00

(iv) Bills Discounted 0.00 0.00

(v) Disputed Excise Liability 0.00 0.00

(vi) Disputed Income Tax Liability 0.00 0.00

(vii) Claims against Company not acknowledge as debt 0.00 0.00

2 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs. 23,94,254 (Previous year Rs. 11,07,889/-) is shown underthe CurrentAssets as "Cenvat Receivable A/c".

3 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGKand Pondy)seperately as per the rates provided in Schedule XIV of the CompaniesAct.

4 Previous years figures are re-grouped wherever considered necessary.

5 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6 Sales includes jobwork charges of Rs.97.90 Lakhs;( Previous year- Rs. 173.95 lakhs)

7 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/ Liabilities, based on the effect of the timing As a matter of prudence, deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

8. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

9. Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 National Auto Plast - Associate Concern

4 Mr. Sudershan Parakh - Key Management Personnel

5 Mrs. Manju Parakh - Key Management Personnel

6 Mr. Alok Kumar Parakh - Key Management Personnel

7 Mr. E .Balasubramanian - Key Management Personnel

8 Mr. Arihant Parakh - Relative

9 Mr Kesari Chand Bhutoria - Relative

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Mar 31, 2013

1 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs. 11,07,889/- (Previous year Rs. 7,09,472/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGKand Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5 Sales includes jobwork charges of Rs.173.65 Lakhs;( Previous year- Rs.191.65 lakhs).

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22).

(b) The major components of the Deferred Tax Assets/ Liabilities, based on the effect of the timing differences, as at 31 st March 2013, are as under:

7. The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8 Related Parties Disclosure

Disclosure as required by Accounting Standards 18" Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Autoplast - Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4. Mrs. Manju Parakh - Key Management Personnel

5. Mr. Alok Kumar Parakh - Key Management Personnel

6. Mr.Arihant Parakh - Relative

7. Mr. Bachhraj Parakh - Relative

9 Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

10 Lease payments and receipts

Lease payments have been made towards an operating lease. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

11 As per the representation received from the management there is no impairment of loss to fixed I assets.

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Mar 31, 2012

1 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Cenvat credit of Rs.7,09,472/- (Previous year Rs.18,51,248/-) is shown under the CurrentAssets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

5 Sales includes jobwork charges of Rs. 191.65 Lakhs;( Previous year- Rs. 124.61 lakhs).

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on "Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

7 The company operates in only one business segment Viz. Injection Moulded Plastic Products.

8 Amount payable to MSME units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

9 As per the representation received from the management there is no impairment of loss to fixed assets.

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Mar 31, 2010

1 Credit for Cenvat of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised modvat credit of Rs. 2,71,686 (Previous year Rs. 7,15,401/-) is shown under the Current Assets as "Cenvat Receivable A/c".

2 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

3 Previous years figures are re-grouped wherever considered necessary.

4 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

Sales includes jobwork charges of Rs 92.15 Lakhs; ( Previous year- Rs. 179.09 lakhs)

5 Other income includes profit on sale of assets Rs. 15.03 Lacs.

6 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

As a matter of prudence, deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

7 The company operates in only one business segment viz. Injection Moulded Plastic Products.

8 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd - Associate Concern

2. National Plastic Industries - Associate Concern

3 Mr. Sudershan Parakh - Key Management Personnel

4 Mrs. Manju Parakh - Key Management Personnel

5 Mr. Alok Parakh - Key Management Personnel

6 Mr. Arihant Parakh - Relative

7 Mr Keshari Chand Bhutoria - Relative

9 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

10 Imports & Foreign Currency details

11 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

12 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS 29 .

13 As per the representation received from the management, there is no impairment of loss to fixed assets.

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Mar 31, 2009

As At As At 31.3.2009 31.3.2008 (Rs.in Lakhs) (Rs.in Lakhs)

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) (Rs.in lakhs) 12 165

2. Contigent Liability not provided for (Rs. in lakhs)

(I) Guarantee 9 9

(ii) Letter of Credit - Inland 0 0

(iii) Letter of Credit-Foreign 0 0

(iv) Bills Discounted 0 0

(v) Disputed Excise Liability 0 0

(vi) Disputed Income Tax Liability 0 0

(vii) Claims against Company not acknowledge as debt 0 0

3 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.7,15,401/-(PreviousyearRs.32,33,722/-)isshownunderthe Current Assets as "Modvat Receivable A/c".

4 The Depreciation on various assets have been computed for various plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided in Schedule XIV of the Companies Act.

5 Previous years figures are re-grouped wherever considered necessary.

6 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

7 Sales includes jobwork charges of Rs 179.09 Lakhs; (Previous year- Rs.316.87 lakhs)

8 Other income includes prof it on sale of assets Rs.27.42 Lacs.

9 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

10 The company operates in only one business segment Viz. Injection Moulded Plastic Products

11 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd -Associate Concern

2. National Plastic Industries -Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4 Mrs. Manju Parakh - Key Management Personnel

5 Mr. Alok Kumar Parakh - Key Management Personnel

6 Mr.Arihant Parakh -Relative

7 MrKesariChandBhutoria -Relative

12 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

13 Software for Computers has been shown under "Fixed Assets" underthe head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

14 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

15 As per the representation received from the management there is no impairment of loss to fixed assets.

16 We have capitalized Rs.4,44,672/- being interest charges towards fixed assets for the year at Irungattukottai plant. (Previous year Rs. 12,30,412/-)

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Mar 31, 2008

1. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland - - (iii) Letter of Credit - Foreign - - (iv) Bills Discounted - - (v) Disputed Excise Liability - - (vi) Disputed Income Tax Liability - - (vii) Claims against Company not - - acknowledge as debt

2 Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.3233722/- is shown under the Current Assets as "Modvat Receivable A/c".

3 The Depreciation on various assets have been computed for Chennai and Puducherry plants separately as per the rates provided in Schedule XIV of the Companies Act.

4 Previous years figures are re - grouped wherever considered necessary.

5 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6 Sales includes jobwork charges of Rs.316.87 Lakhs (Previous year Rs.529.51 lakhs)

7 Miscellaneous income includes Rs. NIL received towards commission. (Previous year Rs. 21.46 Lakhs)

8 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on of unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

9 The company operates in only one business segment Viz. Injection Moulded Plastic Products

10 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd -Associate Concern

2. National Plastic Industries -Associate Concern

3. Mr. Sudershan Parakh - Key Management Personnel

4. Mrs. Manju Parakh -Relative

5. Mr. Alok Kumar Parakh - Key Management Personnel

6. Mr.Arihant Parakh -Relative

11 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

12 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis. Minimum Lease payments:

- not later than 1 year Nil - later than 1 year but not later than 5 years Nil - Iater than 5 years Nil

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

13 Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

14 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

15 As per the representation received from the management there is no impairment of loss to fixed assets.

16 We have capitalized Rs. 12,30,412/- being interest charges towards fixed assets for the year at Irungattukottai plant.

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Mar 31, 2007

1. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland - - (iii) Letter of Credit- Foreign - - (iv) Bills Discounted - - (v) Disputed Excise Liability - - (vi) Disputed Income Tax Liability - - (vii) Claims against Company not - - acknowledge as debt

2. Credit for CENVAT of Excise duty on raw materials have been taken in Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The. unutilised Modvat credit of Rs.9435388/- is shown under the Current Assets as "Modvat Receivable A/c".

3. The Depreciation on various assets have been computed for Chennai and Pondicherry plants seperately as per the rates provided in Schedule XIV of the Companies Act.

4. Previous years figures are re-grouped wherever considered necessary.

5. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

6. Sales includes jobwork charges of Rs.529.51 Lakhs;( Previous year-Rs.513.23 lakhs)

7. Miscellaneous income includes Rs. 21.46 lakhs received towards commission, (Previous year Rs. 31.20 Lakhs)

8. Deferred Tax ,

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

9. Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their .status of industrial undertaking.

10. Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

11. Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29.

12. As per the representation received from the management there is no impairment of loss to fixed assets.

13. Credit Balances in partys accounts have been written back and adjusted against purchases.

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Mar 31, 2006

As At As At 31.3.2006 31.3.2005 (Rs.in Lakhs) (Rs.in Lakhs) 1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) 139.09 0.00 (Rs. in lakhs)

2. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00

(ii) Letter of Credit-Inland 0.00 0.00

(iii) Letter of Credit-Foreign 0.00 0.00

(iv) Bills Discounted 0.00 0.00

(v) Disputed Excise Liability 0.00 0.00

(vi) Disputed Income Tax Liability 0.00 0.00

(vii) Claims against Company not acknowledge as debt 0.00 0.00

3 Licenced and installed capacity given below :-

Plastic Moulded Components licenced Capacity NA NA

Plastic Moulded Components Installed Capacity 3500 tons 3500 tons

For the Period ended For the Period ended 31.3.2006 31.3.2005 5. Raw Material Consumed Item Qty Value Qty Value Mts Rs. Mts Rs.

1. Polypropylene 1657.062 101836176 1210.080 68263074

2. Polystrene 327.815 26219804 274.504 21011059

3. PVC 16.125 950804

4. ABS 45.648 6836192 0.9 108266

5. Pet Resin 51.199 4261797 0 0

6. Components 10228766 0 0

7. Others 518739 4538388

2081.724 153568474 1501-609 94871591

LESS : CENVAT CREDIT 18571291 14802765

134997183 80068826

Whereof: % - % -

Imported 0 0

Indigeneous 100 134997183 100 80068826

100 134997183 100 80068826

6. Managerial Remuneration:

Salary 630000 420000

Contribution to Provident and Superannuation fund 75600 50400

Other Perquisites 262576 257744

7. The Depreciation on various assets have been computed for Chennai and Pondicherry plants seperately as per the rates provided in Schedule XIV of the Companies Act.

8 Previous years figures are re-grouped wherever considered necessary.

9. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

10 Sales includes jobwork charges of Rs.513.23 Lakhs; (Previous year- Rs.617.10 lakhs)

11 Miscellaneous income includes Rs.31.20 lakhs received towards commission. (Previous year-Rs.41.79 Lakhs)

12 Deferred Tax

(a) Deferred Tax has been accounted in accordance with the requirement of Accounting Standard on " Taxes on Income" (AS 22). Deferred Tax Assets are recognised on c/f unabsorbed depreciation and Business Loss as there is virtual certainity that sufficient future taxable income will be available against which such asset can be adjusted.

(b) The major components of the Deferred Tax Assets/Liabilities, based on the effect of the timing differences, as at 31st March 2006, are as under:

Amt Tax Rate Tax Amt (Rs. In lakhs) (Rs. In lakhs)

(I) Carried forward Loss/Depn 697.95 33.66 234.93

(II) Difference in WDV 734.57 33.66 -247.26

Provision for Deferred Tax - - -12.33

SAY Rs. -12.33 - -

As a matter of prudence. deferred tax assets have been recognised only to the extent of deferred tax liability and as such there is no impact of the same on these accounts.

13 The company operates in only one business segment Viz. Injection Moulded Plastic Products

14 Related Parties Disclosure

Disclosure as required by Accounting Standards 18 " Related Party Disclosures" are given below

a) List of Related Parties

1. National Polyplast (India) Ltd-Associate Concern

2. National Plastic Industries-Associate Concern

3 Mr. Sudershan Parakh-Key Management Personnel

4 Mrs. Manju Parakh-Relative

5 Mr. Alok Kumar Parakh-Key Management Personnel

6 Mr. Arihant Parakh-Relative

b) Transaction with related parties

Sale of goods 2061125

Purchases of goods 128960

Purchase or sale of Fixed Assets 333677

Rendering Services 4500325

Receiving Services 18598808

Agency arrangements Nil

Leasing or Hire Purchase arrangements 270000

Transfer of Research & Development Nil

Licence Agreements Nil

Interest paid

Key Management personnel & Relatives 169546

Outstanding balances as on 31.3.2006 Unsecured loan

Key Management personnel & relatives 5041571

Finance(including loans and equity Contribution in cash or in kind) Nil

Guarantee and collaterals Nil

Management contracts including for deputation of Employees 968176

15. Amount payable to Small scale Industrial unitsoutstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

16 Earnings per share Year Ended Year Ended Particulars 31.03.2006 31.03.2005

Net Profit attributable to shareholders 9259369 7872997

Weighted average number of equity shares 5668330 5668330

Basic earnings per share of Rs.10/- each 1.63 1.39

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earning per share of the company remain the same.

17 Imports & Foreign Currency details

(a) Value of Imports on CIF Basis :

Raw Materials 0 0

Capital Goods 426479 1594528

Spare Parts 294432 0

720911 1594528

(b) Expenditure in Foreign Currency

(Travelling & others) 333199 0

(C) Earnings in Foreign Currency 0 1380580

18 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS 19) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis. Minimum Lease payments:

-not later than 1 year Rs. 1.80 lakhs

-later than 1 year but not later than 5 years -

-later than 5 years -

Lease payments/receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/receipts are not discounted for future cash flows.

19 Software for Computers has been shown under "Fixed Assets" under the head Computers instead of showing it as intangible assets as per A.S.26. The cost of software has been amortised under straight line method at 16.21%.

20 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity Department, Pondicherry. As the Company is regular in paying the electricity charges, no provision for the contingent liability has been considered necessary as per AS.29

21 As per the representation received from the management there is no impairment of loss to fixed assets.

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Mar 31, 2003

Secured Loan

(i) Term Loan from SBI is secured by First Charge on Fixed Assets & second charge on stock & book debts

(ii) Cash Credit availed from SBI is secured by First Charge on Stock & Book Debts and second charge on Fixed Assets.

Other notes

As At As At 31.3.2003 31.3.2002 (Rs.in Lakhs) (Rs.in Lakhs)

1 Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) 2.00 1.00 (Rs. in lakhs)

2. Contigent Liability not provided for (Rs. in lakhs)

(i) Guarantee 9.00 9.00 (ii) Letter of Credit - Inland (iii) Letter of Credit - Foreign (iv) Bills Discounted (v) Disputed Excise Liability (vi) Disputed Income Tax Liability (vii) Claims against Company not acknowledge as debt

3 Licenced and installed capacity given below :- Plastic Moulded Components licenced Capacity NA NA

Plastic Moulded Components Installed Capacity 3500 tons 3400 Tons

4 The Depreciation amount has been lower during the current year as certain moulds have been fully depreciated as a result of higher applicable depredation rates as per the schedule XIII of the Company's Act.

5 Previous years figures are re-grouped wherever considered necessary.

6 Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

7 Sales includes jobwork charges of Rs.292.86 Lakhs;( Previous year- Rs. 159.32 lakhs)

8 Miscellaneous income includes Rs. 48.17 Lakhs received towards commission (previous year - Nil)

9 Amount payable to Small scale Industrial units- outstanding for more than 30 days cannot be ascertained since we have not yet received the confirmation from our suppliers on their status of industrial undertaking.

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earning per share of the company remain the same.

10 Lease payments and receipts

Lease payments have been made towards an operating lease of an Injection Moulding Machine. As per the guidelines of the Accounting Standards on leases (AS17) issued by the Institute of Chartered Accountants of India, these lease payments are debited to the profit and loss account on accrual basis.

The company has earned lease income on a part of building during the previous year

Lease rent received has been disclosed as such in the profit and loss account.

Depreciation on leased assets have been calculated at the rates specified in Schedule XIV to the Companies Act on the straight line method.

Lease payments/ receipts are subject to cancellation at the will and necessity and option to exercise cancellation by either party to the transaction. Hence the lease payments/ receipts are not discounted for future cash flows.

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Mar 31, 2002

Secured Loans:

(1) Term loan from State Bank Of India is secured by first charge on fixed assets and second charge on stock and book debts.

(2) Cash Credit availed from State Bank Of India is secured by first charge on stock and book debts and second charge on fixed assets.

Other Notes:

1. Previous years figures are re-grouped wherever considered necessary.

2. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

3. Amount payable to Small scale industrial units - outstanding for more than 30 days is Rs. 2.82 lakhs

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Mar 31, 2001

31.03.2001 31.03.2000 (Rs.in Lakhs) (Rs.in Lakhs)

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) NIL NIL

2. Contigent Liability not provided for

(i) Guarantee 3.20 3.20

(ii) Letter of Credit - Inland 66.44 244.85

(iii) Letter of Credit - Foreign - -

(iv) Bills Discounted 23.29 13.84

(v) Disputed Excise Liability - -

(vi) Disputed Income Tax Liability - -

(vii) Claims against Company not acknowledge as debt - -

3. Depreciation has been provided on Straight Line method as per rates prescribed under Schedule XIV to the companies Act 1956.

4. Credit for modvat of Excise duty on raw materials have been taken in Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets.

5. Previous years figures are re-grouped wherever considered necessary.

6. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

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Mar 31, 2000

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance)

2. Contingent Liability not provided for (Rs. in lakhs)

(i) Guarantee

(ii) Letter of Credit-Inland

(iii) Letter of Credit - Foreign

(iv) Bills Discounted

(v) Disputed Excise Liability

(vi) Disputed Income Tax Liability

(vii) Claims against Company not acknowledge as debt

3. Depreciation has been provided on Straight Line Method as per rates prescribed under Schedule XIV to the Companies Act 1956

4. Credit for modvat of Excise duty on raw credit of Excise Duty on Capital Goods / materials have been taken in R has been credited to respective law material A/c and Modvat Capital Assets.

5. Previous years figures are re-grouped wherever considered necessary.

6. Confirmation of balances from Debtors and Creditors of the Company have not been received.

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Mar 31, 1999

Note : (i) Term Loan from SBI is secured by First Charge on Fixed Assets & second charge on stock & book debts

(ii) Cash Credit availed from SBI is secured by First Charge on Stock & Book Debts and second charge on Fixed Assets.

(iii) Bill Discounting are backed by Letters of Credit furnished by Customers.

(iv) Term Loan from SBM is secured by First Charge on Mould, computers & temperature controller.

As at At at 31.03.1999 31.03.1998 (Rs. in Lakhs) (Rs. in Lakhs) NOTES TO THE ACCOUNTS

1. Estimated amounts of contracts to be executed on Capital Accounts and not provided for (net of advance) - 69.16

2. Contingent Liability not provided for

(i) Guarantee 6.71 3.81

(ii a) Letter of Credit - Inland 213.56 104.35

(ii b) Letter of Credit - Foreign 125.27 95.10

(iii) Bills Discounted 24.09 32.71

(iv) Disputed Excise Liability - -

(v) Disputed Income Tax Liability - -

(vi) Claims against Company not acknowledge as debt- -

3. Credit for modvat of Excise duty on raw materials have been credited to Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs.2144378/-is shown under the Current Assets as "Modvat Receivable A/c".

4. Previous years figures are re-grouped wherever considered necessary.

5. Confirmation of balances from Debtors, Creditors and Advances of the Company have not been received.

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Mar 31, 1998

1. Credit for modvat of Excise duty on raw materials have been credited to Raw material A/c and Modvat credit of Excise Duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs. 559207/- is shown under the Current Assets as Modvat Receivable A/c".

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Mar 31, 1997

(1) Term loan from State Bank of India (SBI) is secured by first charge on fixed assets & second charge on stock & book debts

(2) Cash credit availed from SBI is secured by first charge on stock & book debts and second charge on fixed assets.

(3) Bill discounting are backed by letters of credit furnished by customers.

(4) Term Loan from State Bank of Mysore (SBM) is secured by first charge on mould, computers & temperature controller.

(5)Credit for modvat of excise duty on raw materials have been taken in Raw material A/c and Modvat credit of excise duty on Capital Goods has been credited to respective Capital Assets. The unutilised Modvat credit of Rs. 1566989/- is shown under the Current Assets as "Modvat Receivable A/c".

(6)Previous years figures are re-grouped wherever considered necessary.

(7)Confirmation of balances from Debtors and Creditors of the Company have not been received.

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Mar 31, 1996

NOTES TO SECURED LOANS

1. Term Loan from SBI is secured by first charge on fixed assets and second charge on stock and book debts.

2. Cash credit account from SBI is secured by first charge on stock & book debts and second charge on fixed assets.

3. Bill discounting are backed by letters of credit furnished by Customers.

NOTES TO ACCOUNTS:

1. Estimated amount of contracts to be executed on Capital Accounts and not provided for (net of advance)

2. Contingent Liability not provided for

(i) Guarantee (ii) Letter of Credit (iii) Bills Discounted (iv) Disputed Excise Liability (iv) Disputed Income Tax Liability (v) Claims against Company not acknowledged as debt

3. Depreciation has been provided on straight line method as per rates prescribed under Schedule XIV to the Companies Act, 1956. During the year, the company has changed the method of providing depreciation from written down value method to straight line method. Excess depreciation, charged on earlier years on account of change in method of depreciation amounting to Rs.34,76,377/- has been written back during this year.