Notes to Accounts of Naturite Agro Products Ltd.

Mar 31, 2024

1.10. Provisions and contingent liability

A provision is recognized when the Company has a present obligation as a result of 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.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

1.11. Financial instruments

A financial instrument is any contract that give rise to a financial asset of one entity and a financial liability or equity of another entity.

Initial Recognition

Financial assets and liabilities are recognised when the Company becomes a party to the contract that gives rise to financial assets and financial liabilities. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability.

Subsequent Measurement

Financial assets at amortised cost

Financial assets are subsequently measured at amortised cost if these financial assets are held within a business whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at fair value through other comprehensive income (nothing has been modified so can be removed)

Financial assets are measured at fair value through other comprehensive income if these financial assets are held within a business whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at fair value through profit or loss (nothing has been modified so can be removed)

Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income on initial recognition. The transaction costs directly attributable to the acquisition of financial assets at fair value through profit or loss are immediately recognised in statement of profit and loss.

Financial liabilities (nothing has been modified so can be removed)

Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income on initial recognition. The transaction costs directly attributable to the acquisition of financial assets at fair value through profit or loss are immediately recognised in statement of profit and loss.

1.12. Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

Note No. 27

Previous year figures have been regrouped and rearranged wherever considered necessary in order to make them comparable with those of the current year.

The accompanying notes are an integral part of the financial statements.

AS N^uS°_&^rtA°_S^fS^eo^vc^ntd_S^ate For and on behalf oftheBoard of Dnectors

Chartered Accountants ^Nat"^{r,te Ar}g^{o Prod,,cts Limited}

Firm Reg.No. 005386S

Vallabh Reddy Gaddam Kyatham Reddy Prabhakar

_r" Managing Director Director

M V ^Ratnam DIN: 01006373 DIN: 00966105

Partner

Membership No. 008314 Sd/- Sd/-

^{UDIN: 24008314BKAILR9573} Bhagya Srilatha Tummagunta Nirali Bharat Bhanushali

Pl_ace: Hyd_erab_ad Chief Financial Officer Company Secretary

Date: 29-05-2024_ _

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Mar 31, 2018

1. Corporate information

NATURITE ARGO PRODUCTS LIMITED(''the company'') is having the business of Agro Products. The Company was incorporated on 06th August, 1990 in Hyderabad and listed on BSE dated 05th February, 2015.

The Financial statements for the year ended March 31, 2018 were approved by the Board of Directors and authorised for issue on 30th May, 2018.

The following reconciliations provide the effect of transition to Ind AS from IGAAP in accordance with Ind AS 101

1. Equity as at April 1, 2016 and March 31, 2017

2. Net Profit for the year ended March 31, 2017

"No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other person. Nor any trade or other receivable are due from firms or private companies respectively in which any director is a partner, a director or a member.

The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm''s length transactions. For the year ended March 31, 2018, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2017: Rs. Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

Trade receivables are generally with the credit term of 30 to 45 days.

The expected credit Loss is measured on the basis of doubtfullness of the payment to be received from the debtors which are aged more than 3 years."

Cash at banks earns interest at floating rates based on daily bank deposit rates. The Depsots with the bank are maintained for a period of 12 Months

b) Terms/Rights attached to the equity shares

The Company has only one class of Issued, subscribed and paid up equity shares having a par value of Rs. 10/- each per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting. The Company has not declared any dividend in the current and previous year. In the event of liquidation of the Company the holders of equity shares will be entitled to receive 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 share holders.

Terms and conditions of the above financial liabilities:

i) Trade payables are non-interest bearing and are normally settled on 30-45 days temis.

ii) The dues to related party are unsecured and are normally payable within 30 days from the date of receipt of demand.

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Mar 31, 2016

1. Current Tax: provision for current income tax is made on the taxable income using the applicable tax rates and tax laws.

2. Deferred Tax: Deferred tax arising on account of timing differences and which are capable of reversal in one or more subsequent period(s) is recognized using the tax rates and tax laws that have been enacted or substantively enacted. Deferred tax assets are not recognized unless there is virtual certainty with respect to the reversal of the same in future years.

3. Minimum Alternative Tax (MAT) credit: MAT is recognized as an asset only when and to the extent there is convincing evidence that the company will pay normal income tax during the specified period in the year in which the MAT credit becomes eligible to be recognized as an asset in accordance with the recommendations contained in the guidance note issued by the ICAI. The said asset is created by way of a credit to the Statement of profit and loss and is shown as MAT credit entitlement. The company reviews the same at each balance sheet date and writes down the carrying amount of mat credit entitlement to the extent there is no longer convincing evidence to the effect that company will pay normal income tax during the specified period.

3. Contingent Liabilities and commitments - (AS-29): a. Contingent Liabilities:

4. Guarantees and letters of credit: Nil

5. Bank Guarantees: Rs. Nil

6. other Disclosures:-

7. The Previous year''s figures have been regrouped and recast wherever necessary to bring them in line with the current year''s figures.

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Mar 31, 2015

I. Contingent Liabilities and commitments - (AS-29):

a. Contingent Liabilities:

i) Guarantees and letters of credit: Nil

ii) Bank Guarantees: Rs. Nil

II. Deferred Tax Liability/(Asset)

Opening Value of deferred tax Liability 2,56,407

Deferred tax expense on account of Depreciation Nil

Closing Value of deferred tax Liability as on 31.03.2015 2,99,665

III. Other Disclosures:-

a) The Previous year's figures have been regrouped and recast wherever necessary to bring them in line with the current year's figures.

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Mar 31, 2013

1. Provisions

Provision is recognised when an enterprise has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation and in respect of which a reliable estimate can be made. Provisions are determined based on management estimates required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to refect the current management estimate.

2. The Company has carried out its tax computation in accordance with mandatory accounting standard AS 22 – ''Taxes on Income'' issued by the Institute of Chartered Accountants of India.

Provision for current tax comprises Minimum Alternative Tax (MAT). The company is entitled to carry forward it to be set off against future tax liabilities. Keeping in view the significant accumulated losses carried forward, MAT credit has not been recognised in the accounts.

3. As per information available with the company, none of its creditors comprise small scale industrial undertakings to which the company owes dues, which are outstanding for more than 30 days as at the Balance Sheet date. Further none of the creditors comprises micro, small and medium enterprises which comprise amounts outstanding for more than 45 days as at the Balance Sheet date.

4. Previous year figures have been regrouped, wherever necessary to conform to the current year''s presentation.

Amount in Lakhs

1. Contigent Liabilities: 2012-13 2011-12

a. Bank Guarantee

b. Letter of Credits Taken for Purchase Raw materials

c. Bill discounting against letter of credit, outstanding naot credited to balance sheet

5. Related Party Disclouser

Related Party disclosure as required under Accounting Standard on Related Party Disclousers issued by the Institute of Charted Accountant of India is given below:

There are no related party transactions.

6. Previous Year Figures have been regrouped whereever necessery signatories to Schedule 1 to 23

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Mar 31, 2012

1. Provisions

Provision is recognised when an enterprise has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation and in respect of which a reliable estimate can be made. Provisions are determined based on management esti- mates required to settle the obligation at the balance sheet date. These are reviewed at each bal- ance sheet date and adjusted to refect the current management estimate.

2. The Company has carried out its tax computation in accordance with mandatory accounting standard AS 22 – ''Taxes on Income'' issued by the Institute of Chartered Accountants of India.

Provision for current tax comprises Minimum Alternative Tax (MAT). The company is entitled to carry forward it to be set off against future tax liabilities. Keeping in view the signifcant ac- cumulated losses carried forward, MAT credit has not been recognised in the accounts.

3. As per information available with the company, none of its creditors comprise small scale indus- trial undertakings to which the company owes dues, which are outstanding for more than 30 days as at the Balance Sheet date. Further none of the creditors comprises micro, small and me- dium enterprises which comprise amounts outstanding for more than 45 days as at the Balance Sheet date.

4. Previous year figures have been regrouped, wherever necessary to conform to the current year''s presentation.

5. Related party disclosure

Related party disclosure as required under Accounting standard on "Related Party Disclosures" issued by the Institute of Chartered Accountants of India is given below:

There are no related party transactions.

6. Previous Year figures have been regrouped wherever necessary