Notes to Accounts of Purv Flexipack Ltd.

Mar 31, 2025

m. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

(i) Provisions

A provisions is recognized when the Company has a present obligation as a result of past event, if 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 obligation.

(ii) Contingent Liability

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

(ii) Contingent Assets

Contingent Assets are neither recognised nor disclosed in the financial statements.

n. GOVERNMENT GRANTS

Government grants relating to revenue are recognized on accrual basis to match them with related costs that are intended to
be compensated. Such grants are shown separately under other operating income or deducted from related expenses.

o. OPERATING CYCLE

Based on the nature of the business of the Company, the company has determined it''s operating cycle as 12 (twelve) months
for the purpose of classification of its assets and liabilities as current and non-current

p. CASH & CASH EQUIVALENTS

Cash & cash equivalents comprise cash and cash on deposit with banks and corporations. The company considers all highly
liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible
to known amount of cash to be cash equivalents.

(f) Rights, Preference and Restrictions attached to Equity Shares of Rs.10 each.

The Company has only one class of share referred to as Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one
vote per share. Dividend on such shares is payable in proportion to the paid up amount. Dividend (if any) recommended by board of directors (other
than interim dividend) is subject to approval of the shareholders in the ensuing Annual General Meeting.

In the event of winding up of the company, the holder of Equity Shares will be entitled to receive any of the remaining assets of the company after all
preferential amounts and external liabilities are paid in full. However, no such preferential amount exists currently. The distribution of such remaining
assets will be on the basis of number of Equity Shares held and the amount paid up on such shares.

31 Other Disclosures

Additional Regulatory Information

Amended Schedule III requires additional regulatory information to be provided in financial statements.

These are as follows:

a) Title deeds of Immovable Property

Title deeds of immovable properties in the case of freehold property are held in the name of the Company.

b) Revaluation of Property, Plant and Equipment and Right -of- Use Assets

The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the current reporting period and
also for previous year''s reporting period.

c) Loans or advances to specified persons

The Company has granted loans or advances to promoters, directors, and the related parties (as defined under the Companies Act 2013, either
severally or jointly with any other person, that are as follows:

(a) Repayable on Demand,
(b) without specifying any terms or period of repayment .- Nil

c) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to
any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise)
that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate
Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

d) 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 directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

e) No transactions has been surrendered or disclosed as income during the year inthe tax assessment under the Income Tax Act, 1961. There are
no such previously unrecorded income or related assets.

f) The Company operates as a Del Credere Associate (DCA) and a Dealer Operated Polymer Warehouse (DOPW) for Indian Oil Corporation
Limited (IOCL) in its polymer division. In line with its business model, the Company facilitates the sale and distribution of IOCL polymers and
assumes the credit risk associated with such transactions under the DCA arrangement. As on 31st March 2025, the total Trade Receivables
outstanding amount to T7,656.43 Lakhs. Out of the above, an amount of Rs.3,629.89 Lakhs pertains to receivables arising from transactions
conducted under the DCA arrangement with IOCL. These receivables represent amounts due from customers to whom polymers were supplied
under the DOPW model facilitated by the Company as an authorized DCA of IOCL.

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

h) The Provision of Section 135 of the Companies Act 2013 in relation to Corporate Social Responsibility are applicable to the Company for the
financial year 2024-25 and Details of the required CSR spending are as follows:

32 Previous year''s figures have been regrouped / reclassified, wherever considered necessary in order to make them comparable with those of the
current year and in order to comply with the requirements of the amended Schedule III of the Companies Act, 2013.

For, Keyur Shah & Associates For and on behalf of the Board of Directors

F. R. No:333288W For, Purv Flexipack Limited

Chartered Accountants

Sd/- Sd/- Sd/-

Akhlaq Ahmad Mutvalli Vanshay Goenka Rajeev Goenka

Partner Managing Director Director

M. No.: 181329 DIN : 06444159 _{DIN : 00181693}

Sd/-

Sd/- Shivam Thakkar Chief

Financial Officer

Vandana Thakkar

Place : Ahmedabad Company Secretary

Date: 28th May, 2025 M.No: A43478

Place: Kolkata Date:

28th May, 2025

---

Mar 31, 2024

(c) In the Financial 2023-24 the company has made an initial public offering (IPO) of 56,64,000 equity shares of face value of Rs. 10/- each fully paid up at a price of Rs. 71/- per equity share (including share premium of Rs. 61/- per equity share) aggregating to Rs. 4,021.44/- Lakhs. The aforementioned equity shares of the company allotted as on 2nd March, ''24 and got listed on NSE Emerge Platform on 5th March, ''24.

(d) In the Financial year 2023-24 the company has made an Private Placement of 12,00,000 equity shares of face value of Rs. 10/-each fully paid up at a price of Rs. 71/- per equity share (including share premium of Rs. 61 per equity share) aggregating to Rs. 852.00/- Lakhs. The aforementioned equity shares of the company allotted as on 22nd December, ''23.

34 The Balances of Loans & Advances, Trade Receivables, Unsecured Loans, Security Deposits, Trade Payables, Other Liabilities and Balance with Government Authorities are subject to confirmation from the parties and subsequent adjustment if any on reconciliation.

35 Other Disclosures

Additional Regulatory Information

Amended Schedule III requires additional regulatory information to be provided in financial statements.

These are as follows:

a) Title deeds of Immovable Property

Title deeds of immovable properties in the case of freehold property are held in the name of the Company.

b) Revaluation of Property, Plant and Equipment and Right -of- Use Assets

The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the current reporting period and also for previous year''s reporting period.

c) Loans or advances to specified persons

The Company has granted loans or advances to promoters, directors, and the related parties (as defined under the Companies Act 2013, either severally or jointly with any other person, that are as follows:

(a) Repayable on Demand,

c) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

d) 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

e) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961. There are no such previously unrecorded income or related assets.

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

n) In the Financial Year 2023-24 , Cool Caps Industries Limited was reviewed by the Income Tax Authority as on 27th March ''24 and the proceedings for the same is going on in the hands of respective government authority.

36 Previous year''s figures have been regrouped / reclassified, wherever considered necessary in order to make them comparable with those of the current year and in order to comply with the requirements of the amended Schedule III of the Companies Act, 2013.

b) Defined Benefit Obligation:

Post employment and other long-term employee benefits in the form of gratuity is considered as Defined Benefit Obligation. The present value of obligation is determined based on actuarial valuation using projected unit credit method as at the Balance Sheet date. The amount of defined benefits obligation recognized in the Balance Sheet represent the present value of the obligation as adjusted for unrecognized past service cost.

f) Actuarial Assumptions used as at the balance sheet date:

The principal economic & demographic assumptions considered in the valuation are:

Discount Rate - 7.50 %

Salary Escalation Rate - 7.00 %

Retirement Age - 58 year Interest Rate - NA

40 Since the Company operates under a single segment i.e. Trading in Flexible Packing Materials, segment reporting is not required to be given.

Reason for variation (More than 25%)

A Current ratio (In times)

Current ratio increase due to increase in current assets in current year as compare to previous year.

B Debt-Equity Ratio (in times)

Debt-Equity Ratio decrease from 0.85 to 0.43 due to increased in shareholder''s equity during the year as compare to previous year.

D Return on Equity Ratio (in %)

Return on Equity Ratio decreased due to decreased in net profit after tax as compare to previous year and also increase in the shareholders fund due to initial public offers.

F Trade Receivables turnover ratio (In times)

Trade Receivable Turnover ratio decrease due to fall in the net credit sale in current year as compare to previous year.

G Trade payables turnover ratio (In times)

Trade Payable Turnover ratio decrease due to fall in net credit purchase in current year as compare to previous year.

H Net capital turnover ratio (In times)

Net capital turnover ratio decrease due to fall in revenue from operation and rise in net working capital in current year as compare to previous year.

J Return on Capital employed (in %)

Net capital turnover ratio decrease due to decrease in turnover of company from 15703.33 lakhs to 10374.54 lakhs in current year as compare to previous year.

K. Return on investment (in %)

Return on Investment ratio decline due to rise in the investment fund in current year as compare to previous year.