Notes to Accounts of Shivalik Rasayan Ltd.

Mar 31, 2025

2.13 Provisions

Provisions are recognized 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. When the Company expects some or
all of a provision to be reimbursed, for example,
under an insurance contract, the reimbursement
is recognized as a separate asset, but only
when the reimbursement is virtually certain.

The expense relating to a provision is presented
in the Statement of Profit and Loss net of any
reimbursement.

If the effect of the time value of money is material,
provisions are discounted using a current pre¬
tax rate that reflects, when appropriate, the risks
specific to the liability. When discounting is used,
the increase in the provision due to the passage of
time is recognized as a finance cost.

2.14 Retirement and other employee benefits
Short-term obligations

Liabilities for wages and salaries, including non¬
monetary benefits that are expected to be settled
wholly within 12 months after the end of the
period in which the employees render the related
service are recognized in respect of employees’
services up to the end of the reporting period and
are measured at the amounts expected to be paid
when the liabilities are settled. The liabilities are
presented as current employee benefit obligations
in the balance sheet.

Other long-term employee benefit obligations

The liabilities for earned leave and sick leave
are not expected to be settled wholly within 12
months after the end of the period in which the
employees render the related service. They are
therefore measured as the present value of
expected future payments to be made in respect
of services provided by employees up to the end
of the reporting period using the projected unit
credit method. The benefits are discounted using
the market yields at the end of the reporting period
that have terms approximating to the terms of the
related obligation.

The obligations are presented as current liabilities
in the balance sheet if the entity does not have
an unconditional right to defer settlement for at
least twelve months after the reporting period,
regardless of when the actual settlement is
expected to occur.

Post-employment obligations

The Company operates the following post¬
employment scheme:

(a) defined benefit plans such as gratuity; and

(b) defined contribution plans such as provident
funds.

Bonus plans

The Company recognizes liability and an expense
for bonuses. The Company recognizes a provision
where contractually obliged or where there is
a past practice that has created a constructive
obligation.

2.15 Investments in subsidiaries

In respect of equity investments, the entity
prepares separate financial statements and
account for its investments in subsidiary at cost,
net of impairment if any.

2.16 Cash and cash equivalents

Cash and cash equivalents in the balance
sheet comprise cash at banks and on hand and
short-term deposits with an original maturity
of three months or less, which are subject to an
insignificant risk of changes in value.

For the purpose of the statement of cash flow,
cash and cash equivalents consist of cash
and short-term deposits, as defined above,
net of outstanding bank overdrafts as they are
considered an integral part of the Group’s cash
management.

2.17 Trade receivables

Trade receivables are recognized initially at fair
value and subsequently measured at amortized
cost using the effective interest method, less
provision for impairment.

2.18 Trade and other payables

These amounts represent liabilities for goods and
services provided to the Company prior to the
end of the financial year which are unpaid. The
amounts are unsecured and are usually paid within
30 days of recognition. Trade and other payables
are presented as current liabilities unless payment
is not due within 12 months after the reporting
period. They are recognized initially at their fair
value and subsequently measured at amortized
cost using the effective interest method.

2.19 Contributed equity

Equity shares are classified as equity.

2.20 Earnings per share

Basic earnings per share

Basic earnings per share are calculated by
dividing:

• the profit attributable to owners of the
Company

• by the weighted average number of equity
share outstanding during the financial year,
adjusted for bonus elements in equity shares
issued during the year and excluding treasury
shares.

2.21 Contingent Liabilities

In the opinion of the Board of Directors, adequate
provisions have been made in the accounts for
all known liabilities. The value of current assets,
loans and advances have a value on realization in
the ordinary course of business at least equal to
the amount at which they are stated in the balance
sheet, unless otherwise stated.

The Company does have any pending litigation
which would impact on its financial position.

While the Company generally does not have any
pending litigation that would materially impact
its financial position, there is one specific matter
currently under litigation:

A pending litigation with The Superintendent
(Range-V), Central Goods and Services Tax
Division - Dehradun, is currently before the
Nainital High Court. This litigation pertains to an
alleged excess input tax credit (ITC) amounting to
Rs. 1,18,34,538/- availed in GSTR-3B compared
to GSTR-9 and GSTR-2A during the Financial
Year 2017-18. The Company asserts that this
discrepancy arose due to a clerical error where
Input credit of Rs. 1,18,34,538/- (comprising IGST
Rs. 1,15,77,552/-, CGST Rs. 1,28,493/-, and SGST
Rs. 1,28,493/-) was inadvertently filed under Table
No. 4A(4) instead of Table No. 4A(5) of Eligible ITC
in GSTR-3B for the month of March 2018.

The Board of Directors believes that this pending
litigation is unlikely to have a material adverse
impact on the Company’s financial position.

2.22 New standards and interpretations not yet
adopted

Ministry of Corporate Affairs ("MCA") notifies
new standard or amendments to the existing
standards under Companies (Indian Accounting
Standards) Rules as issued from time to time. On
March 23, 2022, MCA amended the Companies
(Indian Accounting Standards) Amendment Rules,
2022, applicable from April 01,2022, as below:

Ind AS 103 - Reference to Conceptual Framework

The amendments specify that to qualify for
recognition as part of applying the acquisition
method, the identifiable assets acquired, and
liabilities assumed must meet the definitions
of assets and liabilities in the Conceptual
Framework for Financial Reporting under Indian
Accounting Standards (Conceptual Framework)
issued by the Institute of Chartered Accountants
of India at the acquisition date. These changes
do not significantly change the requirements of
Ind AS 103. The Company does not expect the
amendment to have any significant impact in its
financial statements.

Ind AS 16 - Proceeds before intended use

The amendments mainly prohibit an entity from
deducting from the cost of property, plant and
equipment amounts received from selling items
produced while the Company is preparing the
asset for its intended use. Instead, an entity will
recognize such sales proceeds and related cost in
profit or loss. The Company does not expect the
amendments to have any impact in its recognition
of its property, plant and equipment in its financial
statements.

Ind AS 37 - Onerous Contracts - Costs of
Fulfilling a Contract

The amendments specify that the "cost of
fulfilling" a contract comprises the "costs that
relate directly to the contract". Costs that relate
directly to a contract can either be incremental
costs of fulfilling that contract (examples would be
direct labour, materials) or an allocation of other
costs that relate directly to fulfilling contracts. The
amendment is essentially a clarification, and the
Company does not expect the amendment to have
any significant impact in its financial statements.

I nd AS 109 - Annual Improvements to Ind AS
(2021)

The amendment clarifies which fees an entity
includes when it applies the "10 percent" test of
Ind AS 109 in assessing whether to derecognize
a financial liability. The Company does not expect
the amendment to have any significant impact on
its financial statements.

I nd AS 116 - Annual Improvements to Ind AS
(2021)

The amendments remove the illustration of the
reimbursement of leasehold improvements by the
lessor in order to resolve any potential confusion
regarding the treatment of lease incentives that
might arise because of how lease incentives were
described in that illustration. The Company does
not expect the amendment to have any significant
impact on its financial statements.

2.23 Research and Development Expenditure

1. Capital Expenditure is included in Fixed
Assets and Capital Work in Progress and
depreciation is provided at the respective
applicable rates.

2.24 API Plant at Dahej-II (Dahej Unit-I)

The United States Food and Drug Administration
(US FDA) approved the API Facility of Shivalik
Rasayan Limited at D-2/CH/41/A, GIDC Industrial
Estate, Dahej, Bharuch, Gujarat, India-392140
based on inspection concluded on April 09, 2024 at
05:30 PM and released Establishment Inspection
Report (EIR) and final approval has been received
on Oct 2024.

2.25 Agro Chemical Plant at Dahej-III (Dahej Unit-II)

The commercial production of Agro Plant at Dahej
has started during the financial year. The quality of
the products is well accepted by their customers.

2.30 Managerial Remuneration

During the year, the Company has paid total managerial remuneration amounting to Rs.336.22 Lakhs (Previous year
Rs.230.34 Lakhs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

2.31 Suppliers Status of registration under the Micro, Small & Medium Enterprises:

The Company is regular in making payments as per terms except for special reasons for the Micro, Small and Medium
Enterprises.

2.32 The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever
deemed necessary to make them comparable with those of the current year’s figures.

1.33 Corporate Social Responsibilities:

During the year the Company incurred Rs.30.06 Lakhs under CSR activities, as prescribed u/s 135 of the Companies
Act, 2013 (Rs.32.61 Lakhs for previous year).

As per our attached report of even Date

for Rahul Chaudhary & Associates for & on behalf of the Board of Directors

Chartered Accountants Shivalik Rasayan Limited

CA Rahul Chaudhary Parul Choudhary Vinod Kumar Ashwani Kumar Sharma Rahul Bishnoi

Partner Company Secretary Chief Financial Officer Director Chairman

M.No. 542837 ACS:34854 PAN: AQPPK5268F DIN: 00325634 DIN: 00317960

FRN: 033971N

Place: New Delhi
Date: May 30, 2025

---

Mar 31, 2024

2.13 Provisions

Provisions are recognized 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. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the Statement of Profit and Loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

2.14 Retirement and other employee benefits Short-term obligations

Liabilities for wages and salaries, including nonmonetary benefits that are expected to be settled wholly within 12 months after the end of the

period in which the employees render the related service are recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

Other long-term employee benefit obligations

The liabilities for earned leave and sick leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end of the reporting period that have terms approximating to the terms of the related obligation.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

Post-employment obligations The company operates the following postemployment scheme: employment scheme:

(a) defined benefit plans such as gratuity; and

(b) defined contribution plans such as provident fund.

Bonus plans

The company recognizes a liability and an expense for bonuses. The company recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation.

2.15 Investments in subsidiaries

In respect of equity investments, the entity prepares separate financial statements and account for its investments in subsidiary at cost, net of impairment if any.

2.16 Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity

of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management.

2.17 Trade receivables

Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less provision for impairment.

2.18 Trade and other payables

These amounts represent liabilities for goods and services provided to the company prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method.

2.19 Contributed equity

Equity shares are classified as equity.

2.20 Earnings per share

Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to owners of the company

• by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares.

2.21 Contingent Liabilities

In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

The company does have any pending litigation which would impact on its financial position.

2.22 New standards and interpretations not yet adopted

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 23, 2022, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2022, applicable from April 1,2022, as below:

Ind AS 103 - Reference to Conceptual Framework

The amendments specify that to qualify for recognition as part of applying the acquisition method, the identifiable assets acquired and liabilities assumed must meet the definitions of assets and liabilities in the Conceptual Framework for Financial Reporting under Indian Accounting Standards (Conceptual Framework) issued by the Institute of Chartered Accountants of India at the acquisition date. These changes do not significantly change the requirements of Ind AS 103. The Company does not expect the amendment to have any significant impact in its financial statements.

Ind AS 16 - Proceeds before intended use

The amendments mainly prohibit an entity from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, an entity will recognise such sales proceeds and related cost in profit or loss. The Company does not expect the amendments to have any impact in its recognition of its property, plant and equipment in its financial statements.

Ind AS 37 - Onerous Contracts - Costs of Fulfilling a Contract

The amendments specify that the "cost of fulfilling" a contract comprises the "costs that relate directly to the contract". Costs that relate directly to a contract can either be incremental costs of fulfilling that contract (examples would be direct labour, materials) or an allocation of other costs that relate directly to fulfilling contracts. The amendment is essentially a clarification and the Company does not expect the amendment to have any significant impact in its financial statements.

I nd AS 109 - Annual Improvements to Ind AS (2021)

The amendment clarifies which fees an entity includes when it applies the "10 percent" test of Ind AS 109 in assessing whether to derecognise a financial liability. The Company does not expect the amendment to have any significant impact in its financial statements.

I nd AS 116 - Annual Improvements to Ind AS (2021)

The amendments remove the illustration of the reimbursement of leasehold improvements by the lessor in order to resolve any potential confusion regarding the treatment of lease incentives that might arise because of how lease incentives were described in that illustration. The Company does not expect the amendment to have any significant impact in its financial statements.

2.23 Research and Development Expenditure

These amounts represent liabilities for goods and services

1. Capital Expenditure is included in Fixed Assets and Capital Work in Progress and depreciation is provided at the respective applicable rates.

2. Revenue expenditure incurred on R&D has been included in the respective account heads in the statement of accounts.

2.24 API Plant at Dahej-II (Dahej Unit-I)

The Active Pharma Ingredient (API) Plant of the company was audited by US FDA during April 2024 the procedural queries has been responded to US FDA. The approval is expected any time.

2.25 Agro Chemical Plant at Dahej-III (Dahej Unit-II)

The company has setup an agro-chemicals, synthetic organics chemicals & intermediates plant at Dahej-III with an installed capacity of 20100MT PA. Out of 20100MT PA total annual capacity, company constructed one block to manufacture 3500MT PA insecticides/fungicides in first phase. The herbicide and specialty chemical blocks shall be taken up in second phase of expansion.

2.30 Managerial Remuneration

During the year, company has paid total managerial remuneration amounting to Rs. 230.34 Lakhs (Previous year Rs.227.64 lakhs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

2.31 Suppliers Status of registration under the Micro, Small & Medium Enterprises:

The company is regular in making payments as per terms except for special reasons to the Micro, Small and Medium Enterprises.

2.32 The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

2.33 Corporate Social Responsibilities:

During the year company incurred Rs.32.61 lakhs under CSR activities, as prescribed u/s 135 of the Companies Act, 2013 (Rs.32.61 lakhs for previous year).

As per our attached report of even Date

for Rahul Chaudhary & Associates for & on behalf of the Board of Directors

Chartered Accountants Shivalik Rasayan Limited

Sd/- Sd/- Sd/- Sd/- Sd/-

CA Rahul Chaudhary Parul Choudhary Vinod Kumar Ashwani Kumar Sharma Rahul Bishnoi

Partner Company Secretary Chief Financial Officer Director Chairman

M. No. 542837 ACS:34854 PAN: AQPPK5268F DIN: 00325634 DIN: 00317960

FRN: 033971N Place: Faridabad Date: 29.05.2024

As per our report of even date attached

For Rahul Chaudhary & Associates For and on behalf of the Board

Chartered Accountants Shivalik Rasayan Limited

Firm Regn. No. 033971N

Sd/- Sd/- Sd/- Sd/- Sd/-

CA Rahul Chaudhary Parul Choudhary Vinod Kumar Ashwani Kumar Sharma Rahul Bishnoi

Partner Company Secretary Chief Financial Officer Director Chairman

M. No. 542837 (ACS: 34854) (PAN: AQPPK5268F) (DIN: 00325634) (DIN: 00317960)

Place : Faridabad Dated : May 29, 2024

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Mar 31, 2023

Contingent Liabilities	(Amount Rs. in Lakhs)
Particulars	31.03.2023	31.03.2022
Bank Guarantee given to Uttarakhand Environment & Pollution Control Board	5.00	5.00
Bank Guarantee given to Sales Tax Department	0.50	0.50
2.29 Value of Imports (On CIF Basis)	(Amount Rs. in Lakhs)
Particulars	31.03.2023	31.03.2022
Raw Materials	240.87	464.35
Total	240.87	464.35

Managerial Remuneration

During the year, Company has paid total Managerial Remuneration amounting to Rs. 394.66 lakhs (Previous year Rs. 360.07 lakhs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

Suppliers Status of registration under the Micro, Small & Medium Enterprises:

The Company has not received confirmation from all the suppliers regarding their status of registration under the

Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 02, 2006, and hence disclosure required under the said act have not been given. The Company is otherwise generally regular in making payments as per terms except for special reasons.

The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

Corporate Social Responsibilities:

During the year Company incurred Rs. 27.79 lakhs under CSR activities, as prescribed u/s 135 of the Companies Act, 2013 (Rs. 22.49 lakhs for previous year).

---

Mar 31, 2021

i) During the year, Company has paid total managerial remuneration amounting to '' 335.70 Lacs (Previous year '' 279.92 Lacs) which is approved under Section 197 read with schedule-V of the Companies Act, 2013.

ii) The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given. The Company is otherwise generally regular in making payments as per terms except for special reasons.

⁾ The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

I During the year Company incurred '' 13.59 Lacs under CSR activities, as prescribed u/s 135 of the Companies Act, 2013 (''13.33 Lacs for previous year).

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Mar 31, 2018

NOTE 1: CORPORATE INFORMATION

Shivalik Rasayan Limited was registered with the ROC, Gwalior, Madhya Pradesh under the Registration number 1498/79 dated 16/03/1979. In the year 1980 company shifted its registered office from Madhya Pradesh to Uttar Pradesh under the Registration number 6992/5041 dated 23/02/1980. Old Registration number has been converted into new Corporate Identification number (CIN) L24237UR1979PLC005041. Registered office of the company is situated in the state of Uttarakhand at Village Kolhupani, P O. Chandanwari, Dehradun - 248007. The company is manufacturer of organophosphate insecticides such as Dimethoate Technical and Malathion Technical.

(a) Related party Disclosures

Details of Disclosure of transactions with Related Parties as defined in Ind AS (Excluding Reimbursements) are given herein below:-

(i) related parties

A. Key Managerial personnel & Directors

(b) Contingent Liabilities

(c) VALUE OF IMPORTS (ON CIF BASIS)

(d) During the year, company has paid total managerial remuneration amounting to Rs.37.98 lakhs which is within the limited under Section 197 read with schedule V of the Companies Act, 2013.

(e) The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given. The company is otherwise generally regular in making payments as per terms except for special reasons.

(f) The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

First-time adoption of Ind AS Transition to Ind AS

These are the group’s first consolidated financial statements prepared in accordance with Ind AS.

The accounting policies set out have been applied in preparing the consolidated financial statements for the year ended 31st March, 2018, the comparative information presented in these consolidated financial statements for the year ended 31st March, 2017 and in the preparation of an opening Ind AS balance sheet at 1stApril 2016 (the Company’s date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in consolidated financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP). An explanation of how the transition from previous GAAP to Ind AS has affected the group’s financial position, financial performance and cash flows is set out in the following tables and notes.

A. Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

A.1 Ind AS optional exemptions A.1.1 business combinations

Ind AS 101 provides the option to apply Ind AS 103 prospectively from the transition date or from a specific date prior to the transition date. This provides relief from full retrospective application that would require restatement of all business combinations prior to the transition date.

The group elected to apply Ind AS 103 prospectively to business combinations occurring after its transition date. Business combinations occurring prior to the transition date have not been restated. The Company has applied same exemption for investment in associates and joint ventures.

A.1.2 deemed cost

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognised in the consolidated financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets and investment property covered by Ind AS 40 Investment Properties.

Accordingly, the group has elected to measure all of its property, plant and equipment, intangible assets and investment property at their previous GAAP carrying value.

A.1.3 designation of previously recognised financial instruments

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS. The group has elected to apply this exemption for its investment in equity investments.

A.2.1 Estimates

An entity’s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Ind AS estimates as at 1 April 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP.

A.2.2 de-recognition of financial assets and liabilities

Ind AS 101 requires a first-time adopter to apply the de-recognition provisions of Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows a first-time adopter to apply the de-recognition requirements in Ind AS 109 retrospectively from a date of the entity’s choosing, provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities derecognised as a result of past transactions was obtained at the time of initially accounting for those transactions.

A.2.3 classification and measurement of financial assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.

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Mar 31, 2016

1. RELATED PARTY DISCLOSURES

In compliance to AS -18 issued by The Institute of Chartered Accountants of India, the Disclosure of transactions with Related Parties as defined in Accounting Standard (Excluding Reimbursements) are given herein below:-

(i) RELATED PARTIES

A. Key Management Personnel & Directors

2. Sh. Rahul Bishnoi__2. Sh. S. K. Singh__3. Sh. Ashwani Kumar Sharma_

3. Sh. Anirudh Bishnoi__5. Sh. Harish Pande__6. Sh. Puneet Chandara_

4. Sh. Rajiv Mehta__8. Sh. Kailash Gupta__9. Sh. Arun Kumar_

5. Smt. Usha Pande___

B. Other Related Parties where common control exists and with whom the Company had transactions during the year

6. Growel Capital Services Pvt. Ltd. Holding Company

7. Medic amen Biotech Limited Associate Company

8. The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given.

9. The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year’s figures.

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Mar 31, 2015

1. Corporate information

Shivalik Rasayan Limited was registered with the ROC, Gwalior, Madhya Pradesh under the Registration number 1498/79 dated 16/03/1979. In the year 1980 company shifted its registered office from Madhya Pradesh to Uttar Pradesh under the Registration number 6992/5041 dated 23/02/1980. Old Registration number has been converted into new Corporate Identification number (CIN) L24237UR1979PLC005041. Registered office of the company is situated in the state of Uttarakhand at Village Kolhupani, P.O.Chandanwari, Dehradun - 248007. The company is manufacturer of organophosphate insecticides such as Dimethoate Technical and Malathion Technical.

2. (CONTINGENT LIABILITES)

Particulars As at March 31, As at March 31, 2015 2014

Bank Guarantee given to Uttarakhand Environment & Pollution Control Board 2,00,000 2,00,000

Bank Guarantee given to Sales Tax Department 50,000 50,000

3. The Company has not received any confirmation from suppliers regarding their status of registration under the Micro, Small & Medium Enterprises Development Act, 2006 which came into effect from October 2, 2006 and hence disclosure required under the said act have not been given.

4. The Previous Year Figures have been reworked, regrouped, rearranged, reclassified and / or re-casted wherever deemed necessary to make them comparable with those of the current year's figures.

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Mar 31, 2014

1. Contingent Liabilities - (as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs.2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business WiFi not be less than the amount at which they are stated in the Balance Sheet.

3. As per direction of Institute of Chartered Accountants of India, net safes are shown after deducting excise duty paid thereon.

4. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

5. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

(Certified by the management but not verified by the Auditors being technical matter)

6. Other Income Rs.2,43,957/- (Previous Year Rs.2,34,021/-) includes Sale of Unusable Stores Rs.1,05,000/- (Previous Year Rs. 1,70,273/-), Insurance Claim received Rs.85,647/- (Previous Year Rs.33,748/-), Other Miscellaneous Income Rs.53,310/- (Previous Year Rs.30,000/-) and Interest Rs.27,52,273/- (Previous Year Rs.27,52,273/-).

7. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

8. Balance with banks other than Scheduled Banks in Current Account are as under:-

Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:-

9. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ''Leases'' issued by Institute of Chartered Accountants of India.

a) Minimum lease payments outstanding Rs. Nil

b) Present value of minimum lease payments Rs. Nil

c) Amount Due Minimum lease payments Present value of minimum lease payments

(i) Not later than one year Rs. Nil Rs. Nil

(ii) Later than one year Rs. Nil Rs. Nil

10. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

11. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

12. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

13. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.

---

Mar 31, 2013

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs. 2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

4. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

5. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

6. Other Income Rs.2,34,021/- (Previous Year Rs.2,20,728/-) includes Sale of Unusable Stores Rs.1,70,273/-(Previous Year Rs.1,57,000/-), Insurance Claim received Rs.33,748/- (Previous Year Rs.14,728/-), Other Miscellaneous Income Rs.30,000/- (Previous Year Rs.49,000/-) and Interest Rs.27,52,273/- (Previous Year Rs.20,95,090/-).

7. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

8. Balance with banks other than Scheduled Banks in Current Account are as under:- Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:- Nil Nil

9. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ‘Leases'' issued by Institute of Chartered Accountants of India.

10. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

11. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

12. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

13. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.

---

Mar 31, 2012

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Rs.2,00,000/-) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. Estimated amount of contracts remaining to the executed on capital account and not provided for Rs. Nil (Previous year Rs. Nil).

3. The Company has provided Rs.33,78,023/- as provision for Income Tax by debiting to Profit & Loss Account.

4. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

5. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

6. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/-) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

7. Profit before tax of the Company for the Financial Year ended 31/03/2011 and 31/03/2012 was Rs. 88.18 Lakh and Rs.126.65 Lakh respectively. Company hopes to maintain its profitability in future also.

8. Commission for marketing the products of the company has been paid to the selling agents this year Rs.87,59,882/-(previous year Rs.70,88,264/-).

9. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956.

(Certified by the management but not verified by the Auditors being technical matter)

10. Other Income Rs.2,20,728/- (Previous Year Rs.5,32,506/-) includes Sale of Unusable Stores Rs. 1,57,000/-(PreviousYearRs.4,50,730/-), Insurance Claim received Rs.14,728/- (Previous Year Rs.10,776/-), Other Miscellaneous Income Rs.49,000/- (Previous Year Rs.71,000/-) and Interest Rs.20,95,090/- (Previous Year Rs.9,85,253/-).

11. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

12. Balance with banks other than Scheduled Banks in Current Account are as under-

Current Year Previous Year

Nil Nil

Maximum amount deposited at any time during the year was as under:-

Nil Nil

13. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ''Leases'' issued by Institute of Chartered Accountants of India.

14. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

15. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

16. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

17. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.

---

Mar 31, 2011

1. Contingent Liabilities -

(as confirmed and certified by the management)

Guarantee issued by the Banker on behalf of the company Rs.2,00,000/- (Previous year Nil) to Uttaranchal Environment & Pollution Control Board, Dehradun.

2. Estimated amount of contracts remaining to the executed on capital account and not provided for Rs. Nil (Previous year Rs. Nil).

3. The Company has provided Rs.19,75,857/- as provision for Income Tax by debiting to Profit & Loss Account.

4. In the opinion of the Management, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

5. As per direction of Institute of Chartered Accountants of India, net sales are shown after deducting excise duty paid thereon.

6. The company has pledged its fixed deposit receipts aggregating Rs.50,000/- (Previous Year Rs.50,000/ -) with Punjab National Bank, Indira Nagar Branch, Dehradun as security against guarantee issued in favor of Sales-Tax Officer.

7. Profit before tax of the Company for the Financial Year ended 31/03/2010 and 31/03/2011 was Rs. 60.19 Lakh and Rs.88.18 Lakh respectively. Company hopes to maintain its profitability in future also.

8. Commission for marketing the products of the company has been paid to the selling agents this year Rs.70,88,264/- (previous year Rs.61,11,394/-).

9. Additional information pursuant to the provisions of Schedule VI to the Companies Act, 1956. (Certified by the management but not verified by the Auditors being technical matter)

10. Miscellaneous Income Rs.5,32,506/- (Previous Year Rs.4,81,750/-) includes Sale of Unusable Stores Rs. 4,50,730/- (Previous Year Rs.4,05,525/-), Insurance Claim received Rs.10,776/- (Previous Year Rs.2,225/-), Other Miscellaneous Income Rs.71,000/- (Previous Year Rs.74,000/-) and Interest Rs.9,85,253/- (Previous Year Rs.8,48,664/-).

11. Related Parties Transactions

The company has not taken or given any loan to any companies or individual in which directors have significant influence.

12. Balance with banks other than Scheduled Banks in Current Account are as under:- Current Year Previous Year Nil Nil

Maximum amount deposited at any time during the year was as under:- Nil Nil

13. Particulars in respect of car taken on lease required to be disclosed under the Accounting Standard 19 on ‘Leases'' issued by Institute of Chartered Accountants of India.

14. As per management information, the Company is complying with all the regulations of Delhi Stock Exchange.

15. The company has not dealt with any organization covered under the "Micro, Small & Medium Enterprises Development Act, 2006" during the year as certified by the management.

16. Earnings per Share

The following is a computation of earnings per share and a reconciliation of the equity shares used in the computation of basic and diluted earnings per share.

17. Previous year figures have been recast / regrouped wherever necessary to confirm the classification adopted for the current year.