Notes to Accounts of Satyam Silk Mills Ltd.

Mar 31, 2024

(i) Provisions, contingent liabilities and contingent assets

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. If the effect of the time value of money is material, provisions are
discounted using equivalent period government securities interest rate. Unwinding of the discount is recognised in the
statement of profit and loss as a finance cost. Provisions are reviewed at each balance sheet date and are adjusted to
reflect the current best estimate. Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by 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.
Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not
recognised. However, when the realisation of income is

virtually certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

(j) Employee benefits

Liability towards leave entitlements (short term) of employees is determined as per rules of the Company and provided for.
Liability towards Gratuity entitlement is determined as per provisions of the Payment of Gratuity Act, 1972 and provided for.

(k) Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss (excluding other comprehensive income) for the
year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. The
weighted average number of equity shares outstanding during the year is adjusted for events such as bonus issue, bonus
element in a right issue, shares split and reserve share splits (consolidation of shares) that have changed the number of
equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per
share, the net profit or loss (excluding other comprehensive income) for the year attributable to equity share holders and the
weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity
shares.

(l) Fair value measurement:

The Company measures financial instruments at fair value at each balance sheet date. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or
transfer the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability. A fair value measurement
of a non-financial asset takes into account a market participant''s ability to generate economic benefits by using the asset in
its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are
available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable
inputs. All assets and liabilities for which fair value is measured or disclosed in the

financial statements are categorised within the fair value hierarchy.

(m) Significant Accounting Judgments, Estimates And Assumptions:

The preparation of the financial statements requires management to make judgments, estimates and assumptions that
affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the
disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require
a material adjustment to the carrying amount of assets or liabilities affected in future periods. The key assumptions
concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of
causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described
below. The Company based on its assumptions and estimates on parameters available when the financial statements were
prepared. However, existing circumstances and assumptions about future developments may change due to market
changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the
assumptions when they occur.

i) Property, plant and equipment, Investment Properties and Intangible Assets:

Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount
of depreciation to be recorded during any reporting period. The useful lives and residual values as per schedule II of the
Companies Act, 2013 or are based on the Company''s historical experience with similar assets and taking into account
anticipated technological changes, whichever is more appropriate.

ii) Income Tax:

The Company reviews at each balance sheet date the carrying amount of deferred tax assets. The factors used in
estimates may differ from actual outcome which could lead to an adjustment to the amounts reported in the standalone
financial statements.

iii) Contingencies:

Management has estimated the possible outflow of resources at the end of each annual reporting financial year, if any, in
respect of contingencies/claim/litigations against the Company as it is not possible to predict the outcome of pending
matters with accuracy.

iv) Impairment of financial assets:

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss. The
Company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on
Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

v) Recoverability of trade receivable:

Judgments are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and
timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

vi) Provisions:

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds
resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition
and quantification of the liability require the application of judgment to existing facts and circumstances, which can be
subject to change. Since the cash outflows can take place many years in the future, the carrying amounts of provisions and
liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.

Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. This section explains the judgements and estimates made in determining the fair values of
the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial
instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments that have quoted price and
financial instrumnents like Mutual Funds for which NAV is published by Mutual Fund Operator. The fair value of all equity instruments which are traded in the
stock exchanges is valued using the closing price as at the reporting period and Mutual Fund are valued using the Closing NAV.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of
observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level. Instruments in level 3 category for
the company include unquoted equity shares and FCCDs and unquoted units of venture capital funds

During the years mentioned above, there have been no transfers amongst the levels of hierarchy. The carrying amounts of trade receivables, cash and cash
equivalents, and other bank balances, current loans, other current financial assets, current borrowings, trade payables and other financial liabilities are
considered to be approximately equal to the fair value. The fair values disclosed above are based on discounted cash flows using a current borrowing rate.
They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs.

Valuation process

The Company evaluates the fair value of financial assets and financial liabilities on periodic basis using the best and most relevant data available. Also, the
Company internally evaluates the valuation process and obtains independent price validation for certain instruments wherever necessary.

Valuation inputs for fair values of items in level 3 and their relationships to fair value

Fair valuation of Investments in units are classified as level 3 in the fair value hierarchy because of the unobservable inputs / significant adjustments to
observable inputs used to determine the fair value. The profit for the year would be impacted as a result of gains / losses on investments classified as at fair
value through profit or loss, i.e. units.

Note 20 - Financial risk management

The Company is exposed to credit risk, liquidity risk and Market risk.

A Credit risk

Credit risk arises from cash and bank balances, trade receivables and other financial assets .

Credit risk management

Credit risk arises from the possibility that counter party may not be able to settle their obligations as agreed. The company is exposed to trade receivables and
other current financial assets. The Company periodically assesses the financial reliability of the counter party, taking into account the financial condition,
current economic trends, and analysis of historical bad debts and ageing of accounts receivable. The history of trade receivables shows a negligible allowance
for bad and doubtful debts.

B Liquidity risk

Looking to the nature of company business it has no Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on
time or at a reasonable price.

Liquidity risk management

The company manages its liquidity risk by regularly monitoring its rolling cash flow forecasts. The company''s operations provide a natural liquidity of receivables
against payments due to creditors. Receipts exceeding the amount of payables to creditors are invested in liquid assets like mutual funds. Working Capital are
managed through credit facilities agreed with the Banks, internal accruals and realisation of liquid assets. In the event of cash shortfalls, the company
approaches the lenders for a
suitable term extension.

C Market Risk
Price Risk

The company holds investments in units, equity instruments and mutual funds. The Company''s exposure to equity security''s price risks arises from these
investments held by the Company and classified in the balance sheet either as fair value through OCI or at fair value through profit or loss.

Price Risk Management:

The company evaluates the performance of its investments on a periodic basis. Also, the investments have been placed for a long term objective and any
deterioration for a temporary period is not taken into account while evaluating the performance of its investments. Majority of the investments are placed for
strategic management purposes.

(i) As per section 248 of the Companies Act, 2013, there are no balances outstanding with struck off companies

(ii) The Company do not have any Capital-work-in progress or intangible assets under development, whose completion is
overdue or has exceeded its cost compared to its original plan.

(III) The Company have 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.

(iv) 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:

(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

(v) The Company have not 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.

Notes:

1. Related parties relationship is as identified by the Company and relied upon by the Auditors.

2. No amounts pertaining to related parties have been provided for as doubtful debts. Also, no amounts has been written
off/ back.

3. Above figures do not includes provisions for compensated absences and grauity as separate actuarial valuation are
not available.

Note 28- Segment Reporting

The Company operates in single business segments and hence, the information pursuant to IND-AS-108 is not applicable.

Note 29

The figures for the corresponding previous year have been rearranged / regrouped wherever necessary to make them comparable.

Note 30

Approval of Fianancial Statements

The financial statements were approved for issue by the Board of Directors on 29th May, 2024.

As per our report of even date

For SVP & Associates For & behalf of the Board

Chartered Accountants
FRN - 003838N

-Sd/- -Sd/-

-Sd/- (Rohit Kumar Mishra) (Deepa Bhawsar)

Yogesh Kumar Singhania DIN-09515492 DIN-07167937

Partner

Membership Number :111473

-Sd/- -Sd/-

Place : Mumbai (Mahesh Sharma) (Apoorva Jain)

Date : 29th May, 2024 Chief Finance Officer Company Secretaty

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Mar 31, 2014

1. Share Capital

(a) The terms / rights attached to the Equity Shares.

The Company has only one class of Equity Shares. Each holder of equity shares is entitled to one vote per share. The Equity shareholders are entitled to dividend only if dividend in a particular financial year is recommended by the Board of Directors and approved by the members at the Annual General Meeting of that year. In the event of the liquidation of the Company, if the assets available for distribution are less than the paid up share capital, then the shortfall will be borne by the members proportionately. Where there is an excess, the same shall be distributed proportionately amongst the members.

(b) Aggregate number of Shares alloted for consideration other than cash Nil

Aggregate number of Shares alloted as Bonus Shares Nil

Share bought back Nil (during the period of five years immediately preceeding the reporting date).

2 Other Notes

Note : In the absence of virtual certainty of availability of sufficient future taxable income against which such deferred tax asset can be realized, the same has not been recognized in the books of account in line with Accounting Standard 22 dealing with "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

(a) As the Company does not have distinquisable business segments, the requirement to give segment reporting as per Accounting Standard (AS 17) on Segment Reporting issued by the Institute of Chartered Accountants of India is not applicable.

(b) No related party transactions are identified by the management.

(c) On sale of long term investments, cost of investments sold are credited to Investment account the Institute of Chartered Accountants of India.

(d) Balance of debtors, creditors and other advances are subject to confirmation. However, in the opinion of the Board, Current Assests, Loans and Advances have value which on realisation, in the ordinary course of business would atleast be equal to the amount at which they are stated.

(e) Previous year''s figures have been regrouped wherever necessary.

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Mar 31, 2013

Corporate information

Satyam Silk Mills Ltd. (U17110MH2004PTC030725) (the company) is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on the Bombay Stock Exchange Limited in India. The company is presently engaged in non-operational activities of investments in shares and securities.

Basis of Preparation

The financial statements have been prepared under the historical cost convention, in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 1956 as adopted consistently by the company.

(a) As the Company does not have distinquisable business segments, the requirement to give segment reporting as per Accounting Standard (AS 17) on Segment Reporting issued by the Institute of Chartered Accountants of India is not applicable.

(b) No related party transactions are identified by the management.

(c) Deferred Tax asset as stated hereunder has not been considered in the books of accounts since the Company does not expect profits in the near future.

(d) On sale of long term investments, cost of investments sold are credited to Investment account instead of Weighted Average Cost as recommended in Accounting Standard (AS 13) issued by the Institute of Chartered Accountants of India.

(e) Balance of debtors, creditors and other advances are subject to confirmation. However, in the opinion of the Board, Current Assests, Loans and Advances have value which on realisation, in the ordinary course of business would atleast be equal to the amount at which they are stated.

(f) Previous year''s figures have been regrouped wherever necessary

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Mar 31, 2012

Corporate information

Satyam Silk Mills Ltd. (U17110MH2004PTC030725) (the company) is a public limited company ;

domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on the Bombay Stock Exchange Limited in India. The company is presently engaged in j non-operational activities of investments in shares and securities.

Basis of Preparation

The financial statements have been prepared under the historical cost convention, in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 1956 as adopted consistently by the company.

(a) As the Company does not have distinguishable business segments, the requirement to give segment reporting as per Accounting Standard (AS 17) on Segment Reporting issued by the Institute of Chartered Accountants of India is not applicable.

(b) No related party transactions are identified by the management.

(c) Deferred Tax asset as stated hereunder has not been considered in the books of accounts since the Company does not expect profits in the near future.

(d) On sale of long term investments, cost of investments sold are credited to Investment account instead of Weighted Average Cost as recommended in Accounting Standard (AS 13) issued by the Institute of Chartered Accountants of India.

(e) Balance of debtors, creditors and other advances are subject to confirmation. However, in the opinion of the Board, Current Assists, Loans and Advances have value which on realization, in the ordinary course of business would at least be equal to the amount at which they are stated. :

(f) Previous year's figures have been regrouped wherever necessary.

(b) The per value of Equity Share is 10

(c) The terms / Rights attached to the Equity Shares :

The Company has only one class of Equity Shares. Each holder of equity shares is entitled to one vote per share. The Equity shareholders are entitled to dividend only if dividend in a particular ; financial year is recommended by the Board of Directors and approved by the members at the annual general meeting of that year. In the event of the liquidation of the Company, if the assets available for distribution are less than the paid up share capital, then the shortfall will be borne by the members proportionately. Where there is an excess, the same shall be distributed proportionately amongst the members.

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Mar 31, 2010

1. Related Party Disclosures :

Note : Related party relationship is as identified by the management.

2. Deferred Tax asset as on 31-03-10 is Rs. 36,546 on account of unabsorbed losses. However, no deferred tax asset has been considered in the books of accounts since the Company does not expect profits in the near future.

3. On sale of long term investments, cost of investments sold are credited to Investment account instead of Weighted Average Cost as recommended in Accounting Standard (AS 13) issued by the Institute of Chartered Accountants of India.

4. Balance of debtors, creditors and other advances are subject to confirmation. However, in the opinion of the Board, Current Assests, Loans and Advances have value which on realisation, in the ordinary course of business would atleast be equal to the amount at which they are stated.

5. Earning Per Share (EPS) as per Accounting Standard - 20

6. Previous years figures have been regrouped wherever necessary.