Notes to Accounts of Relicab Cable Manufacturing Ltd.

Mar 31, 2024

(a) Rights, preferences and restrictions attached to shares

(i) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share.

(ii) In the event of liquidation of the Company, the holders of the equity shares of the Company will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts in proportion to their shareholding.

(iii) There is no fresh issue or buyback of shares during the year.

a) Securities Premium

Securities Premium is used to record the premium on issue of shares and is utilised in accordance with the provisions of the Companies Act, 2013.

b) Retained Earnings

Retained Earnings are the profits of the Company earned till date net of appropriations.

) . Term loan of Rs.17.90/- Lakhs (Previous Year 52.54/- Lakhs ) is non current part of Term loan taken under Covid Emergency credit line and Union Guaranteed Emergency Credit Line facility.

'' The Term Loans are secured by hypotication of fully paid stock and entire present and future book debts and duly insured with usual bank clause.

This above Term Loan is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothecation of Plant & ii Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

This loan is personally Guranteed by Mr. Suhir Shah Director of the Company, Mrs. Rupa Suihir Shah and Reliance Cable Corporation being owner of Land and Building given as security for the above facility.

b) Unsecured loan taken from NBFC @11% pa. of Rs.616.12/- Lakhs (P.Y. 497/- Lakhs ) and from Body corporate @18% of Nil (Previous year Rs.415.21/- Lakhs) for the working capital

'' requirement period ranging 12 months to 36 months . The loan has been secured against the Post Dated Cheque and four Undated Cheques.

(a) i Working Capital Loan (Cash Credit ) from Union Bank of India of Rs.423.48/- Lakhs (Previous Year 355/- Lakhs) are secured against hypothecation of fully paid stock/ duly insured woth usual bank clause and entire present and future book debts.

ii This above Cash Credit limit is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothication of Plant & Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

iii Working Capital (Cash credit) is repayable on demand and carries variable interest.

_i Term loan of Rs.45.65/- Lakhs (Previous Year Rs.80.29/- Lakhs) is non current part of Term loan taken under Covid Emergency credit line and Union Guaranteed Emergency Credit Line facility. The Term Loans are secured by hypotication of fully paid stock and entire present and future book debts and duly insured with usual bank clause.

ii This above Term Loan is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothecation of Plant & Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

Under the Micro, Small and Medium Enterprises Development Act, 2006 (''MSMED'') which came into force from 2 October 2006, certain disclosures are required to be made relating to Micro, Small and Medium enterprises. On the basis or the informntion and records available with the management, there are no outstanding dues to the Micro and Small enterprises as defined in the Micro, Small mid Medium Enterprises Development Act, 2006 as set out in the following disclosures-a) Outstanding to suppliers other than micro enterprises and small enterprises of Rs.899.44/- Lakhs & Micro and Small Enterprises Development of Rs.160.33/- Lakhs.

The disclosure required as per the IND AS 19 is as under: a) Retirement Benefits

The Company has following long term retirement employees benefits: i) Defined Contribution Plan:

The Company''s defined contribution plans are Employees'' Provident fund and Pension Scheme (under the provision of the Employees'' Provident Fund and Miscellaneous Provisions Act, 1952) since the company has no further obligation beyond making the contributions.

b) Short Term Employee Benefits

All employees benefits falling due wholly with in twelve months of rendering services are classified as short term employee benefits, which include salaries, wages, bonus, leave encashement ets. The said benefits are recognised as expenses in the period in which the employee renders the related service and measured accordingly.

28 Contingent Liabilities and commitments (to the extend not provided for)	As at 31-03-2024	As at 31-03-2023
Guaranteed by Banks not provided for (Net)	0.90	16.90
Letter of Credit	825.21	867.61

34 In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated, if realised, in the ordinary course of the business. The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

35 Financial Instruments Capital Risk Management

The company''s objectives when managing capital is to safeguard continuity as a going concern and provide adequate return to shareholders through continuing growth and maintain an optimal capital structure to reduce the cost of capital. The Company sets the amount of capital required on the basis of annual business plan and long-term operating plans which include capital investments.

Financial Risk Management

A wide range of risks may affect the business and financial results. Amongst other risks that could have significant influence on the Company are market risk, credit risk and liquidity risk.

The Board of Directors manage and review the affairs of the Company by setting up short term and long term budgets by monitoring the same and taking suitable actions to minimise potential adverse effects on its operational and financial performance.

The Company is exposed to the following market risks:

(a) Credit Risk

Credit risk refers to the risk that the counter party will default on its contractual obligation resulting in financial loss. The Company has adopted a policy of dealing with only credit worthy counter parties. This risk principally arises from credit exposures to customers, deposits with banks and financial institutions and other receivables.

(b) Liquidity Risk

Liquidity risk refers to the risk that may not be in a position to meet its financial obligations timely. Management monitors rolling forecasts of the liquidity position (comprising of undrawn bank facilities and cash and cash equivalents) on the basis of expected cash flows. This monitoring includes financial ratios and takes into account the accessibility of cash and cash equivalents.

(c) Market Risk

Market Risk is the risk that the value of on and off-balance sheet positions will be adversely affected by movements in market rates or prices such as interest rates, prices resulting in a loss to earnings and capital.

Capital Management

The Company sets the amount of capital required on the basis of annual business and long-term operating plans.

The funding requirements are met through a mixture of equity, internal fund generation, convertible and non convertible debt securities, and other short term borrowings. The Company’s policy is to use short term and long-term borrowings to meet anticipated funding requirements.

The Company monitors capital on the basis of the net debt to equity ratio. The Company is not subject to any externally imposed capital requirements.

Net debt are long term and short term debts as reduced by cash and cash equivalents (including restricted cash and cash equivalents) and short-term investments. Equity comprises all components of equity without any exclusion.

36 Segment Reporting

The company operates under a single product segment i.e. Cables. The company mainly focuses on specialized cables which differentiates it from other cable players in the country.

37 Other Matters

Information with regard to other matters specified in Revised Schedule III to the Act is either nil or not applicable to the Company for the year.

38 Subsequent Events

No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation.

39 No funds have been advanced or loaned or invested by the Company to/in any intermediary on behalf of ultimate beneficiaries or nor any such sum has been received by the company where the company has act as an intermediary on behalf of ultimate beneficiaries.”

40 Additional Regulatory Information:

a. The Company does not hold any immovable properties which are not held in the name of the Company. Accordingly, disclosure pertaining to the title deeds of immovable properties that are not held in the name of the Company as at the balance sheet date is not applicable.

b. The Company has not revalued any Property, Plant and Equipment. Accordingly, reporting on revaluation of Property, Plant and equipment is not applicable.

c. The Company does not hold any Intangibles assets under development. Accordingly, reporting on Intangibles assets under development ageing and completion schedule is not applicable.

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

e. The Company has availed borrowings from banks or financial institutions on the basis of security of current assets & no material variance exceeding 10% were observed during the periodical review statements submitted to banks.

f. The Company is not declared wilful defaulter by and bank or financials institution or lender during the year.

g. The Company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

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

i. The Company does not have any investment in subsidiaries. Accordingly, Compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not applicable.

j. 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

k. 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.

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

m. Reporting on Corporate Social Responsibility (CSR) is not applicable to the Company.

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

41 Previous period figures have been regrouped and recast wherever necessary to conform to the current year classification.

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Mar 31, 2023

(L) Provisions, Contingent Liabilities and Contingent Assets :

Provisions involved substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

(M) Earning per Share

The company reports basic and diluted earning per share (EPS) in accordance with the Accounting Standard specified under Section 133 of the Companies Act read with Rule 7 of the Companies (Accounts) Rules, 2014. The Basic EPS has been computed by dividing the income available to equity shareholders by the weighted average number of equity shares outstanding during the accounting year. The diluted EPS has been computed using the weighted average number of equity shares and dilutive potential equity shares outstanding during the end of the year.

(N) Cash and cash equivalents :

Cash and cash equivalents for the purposes of cash-flow statement comprise cash at bank and in hand and short-term investments with an original maturity of three months or less.

Term loan of Rs.52,53,720/- (Previous Year Rs.77,34,495/-) is non current part of Term loan taken under Covid Emergency credit line and Union Guaranteed

a) i Emergency Credit Line facility. The Term Loans are secured by hypotication of fully paid stock and entire present and future book debts and duly insured with

usual bank clause.

This above Term Loan is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothication of Plant & Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

This loan is personally Guranteed by Mr. Suhir Shah Director of the Company, Mrs. Rupa Suihir Shah and Reliance Cable Corporation being owner of Land and Building given as security for the above facility.

Unsecured loan taken from NBFC @11% pa. of Rs.4,97,00,000/- (P.Y. 2,25,00,000/- ) and from Body corporate @18% of Rs.1,21,52,170/- (Previous year

b) Rs.4,15,21,048/-) for the working capital requirement period ranging 12 months to 36 months . The loan has been secured against the Post Dated Cheque and four Undated Cheques.

i Working Capital Loan (Cash Credit ) from Union Bank of India of Rs.3,55,00,000/- (Previous Year Rs.4,09,95,910/-) are secured against hypothecation of fully (a)

paid stock/ duly insured woth usual bank clause and entire present and future book debts.

This above Cash Credit limit is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothication of Plant & Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

iii Working Capital (Cash credit) is repayable on demand and carries variable interest.

Term loan of Rs.73,34,495/- (Previous Year Rs.57,59,829/-) is non current part of Term loan taken under Covid Emergency credit line and Union Guaranteed (b) i Emergency Credit Line facility. The Term Loans are secured by hypotication of fully paid stock and entire present and future book debts and duly insured with usual bank clause.

This above Term Loan is also secured by hyothecation on land & building situated at Daman owned by Reliance Cable Corporation a partnership firm of the promoters and hypothication of Plant & Machinary of the Company, lien mark over Fixed Deposit of Relicab Cable Manufacturing Limited and Personal Guarantee, FD and pledge of 30% share of company (1620549 shares of company valued 50% of market price) owned by Mr.Suhir H. Shah. Further Personal Guarantee of Mrs. Rupa Suhir Shah.

37 Additional Regulatory Information:

a. The Company does not hold any immovable properties which are not held in the name of the Company. Accordingly, disclosure pertaining to the title deeds of immovable properties that are not held in the name of the Company as at the balance sheet date is not applicable.

b. The Company has not revalued any Property, Plant and Equipment. Accordingly, reporting on revaluation of Property, Plant and equipment is not applicable.

c. The Company does not hold any Intangibles assets under development. Accordingly, reporting on Intangibles assets under development ageing and completion schedule is not applicable.

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

e. The Company has availed borrowings from banks or financial institutions on the basis of security of current assets & no material variance exceeding 10% were observed during the periodical review statements submitted to banks.

f. The Company is not declared wilful defaulter by and bank or financials institution or lender during the year.

g. The Company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

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

i. The Company does not have any investment in subsidiaries. Accordingly, Compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not applicable.

j. 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

k. 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.

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

m. Reporting on Corporate Social Responsibility (CSR) is not applicable to the Company.

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

38 Previous period figures have been regrouped and recast wherever necessary to conform to the current year classification.

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

As per our Report of even date

For JAIN JAGAWAT KAMDAR & CO. For and on behalf of the Board of Directors of

Chartered Accountants Relicab Cable Manufacturing Limited

ICAI Firm Registration no. 122530W

Sd/- cj,

Sd/- ^sdA

Suhir H Shah Vijya More

^{CA Chandra Shekhar Ja}g^awat Managing Director Independent Director

Partner DIN: 02420617 DIN:07283800

Membership No. -116078

Sd/-

Varun Jain Company Secretary Membership No. A34502

Place : Mumbai Place : Mumbai

Date :30th May, 2023 Date :30th May, 2023

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Mar 31, 2018

General company profile :

Relicab Cable Manufacturing Limited (the ‘Company’) was incorporated on 23/02/2009 as Private Limited Company under the Companies Act 1956 and the same was converted in Public Limited Company on 22nd September, 2015. The company is engaged mainly in manufacturing cables and wires. The Company has manufacturing plants in Daman and sales in Domestic as well as International market. The Company is listed on SME Platform of Bombay Stock Exchange (BSE) .

(a) Rights, preferences and restrictions attached to shares

(i) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share.

(ii) In the event of liquidation of the Company, the holders of the equity shares of the Company will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts in proportion to their shareholding.

(b) The reconciliation of the number of shares outstanding and the amount of share capital is set out below:

Unsecured loan taken from NBFC for the period ranging 24 months to 36 months. The first installment is due in February 2017 and ending on February 2020.

(a) Working Capital Loan from Union Bank of India are seccured against hypothecation of stock & book debts, Plant & Machinery. This loan is also hyothecated by land & building situated at Daman, owned by Reliance Cable Corporation a partnership firm of the promoters.

The loan is also secured by asignement of LIC policies, FDR, Cumulative Deposit and against personal guarnatee of directors and corporate guartantee given by Reliance Cable Corporation.

Cash credit is repayable on demand and carries variable interest.

(b) The facility from The National Small Industries Corporation Limited is under Raw Materials Assistance Scheme and is secured against bank guarantee. The amount payable to the said corporation carries an interest rate @12.95%

Details of Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006 (“MSMED Act”). Under Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006 (“MSMED Act”) , certain disclosure are required to be made relating to Micro, Small and Medium Enterprises. The Company is in process of compling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is not readliy available, no disclosure have been made in the accounts. However in view of the management, the impact of interest, if any , that may be payable in aacordance with the provision of this Act is not expected to be material.

Advance import license received on account of export made during the year and recognised in income for the year. The benefit of license is accrued during the year hence accounted for.

Sundry Deposit include deposit to related party Rs.50,00,000/- (March 31, 2017 Rs.50,00,000/-) for premises taken on Leave & Licence Lease.

The disclosure required as per the revised AS 15 is as under:

a) Retirement Benefits

The Company has following long term retirement employees benefits:

i) Defined Contribution Plan:

The Company’s defined contribution plans are Employees’ Provident fund and Pension Scheme (under the provision of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952) since the company has no further obligation beyond making the contributions.

Note: The current year provisions are made on the basis of salary paid to present employees covered under gratuity scheme.

b) Short Term Employee Benefits

All employees benefits falling due wholly with in twelve months of rendering services are classified as short term employee benefits, which include salaries, wages, bonus, leave encashement ets. The said benefits are recognised as expenses in the period in which the employee renders the related service and measured accordingly.

Leave encashment is provided on the basis of earned leave standing to the credit of the employees and the same is discharged by the company by the year end or in the immediate subsequent year.

1 Related parties disclosure :

A) Relationships

1) Key Managerial Personnel

- Suhir H.Shah, Director

- Parag J Shah, Director

2) Relatives of Key Managerial Personnel and Entities over which significant influence is exercised by key management personnel or their relatives and with whom transactions have taken place in the ordinary course of business Rusha Shah, Suhani Shah, Nivish Shah, Rupa Shah, Paresha Shah, Snehal Shah, Suhir Shah (HUF) , Reliance Cable Corporation, (Suhir H Shah and Parag J Shah are partners), Divine Cell Phones Private Limited, (Suhir H Shah is Director).

2 In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated, if realised, in the ordinary course of the business. The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

Previous period figures have been regrouped and recast wherever necessary to conform to the current year classification.