Notes to Accounts of Teesta Agro Industries Ltd.

Mar 31, 2025

2.14 Provisions, contingent liabilities and contingent assets:

Provisions involving substantial degree of estimation tn measurement are recognized
when there is a present obligation as a result of past events and it is possible that there
will be an outflow of resources Contingent liabilities are not recognized but are

disclosed in notes Contingent assets are neither recognized nor disclosed in the
financial statements

Other Explanatory notes and Information

2 15 Sundry Debtors and advances (considered good) include certain overdue debts/ old
advances aggregating to ?15 (Previous Year ^15) for which necessary steps are
being taken for realisation and as such no provision there against is considered
necessary in these accounts

2 16 Balances of certain Sundry Debtors Sundry Creditors, Loans and Advances and
Other Liabilities are in process of confirmation/reconciliation The management is of
the opinion that adjustment if any arising out of such reconciliation would not be
matanal

2 17 Minimum Alternate Tax Credit is recognized as an asset only to the extent there is
convincing evidence that the Company will pay normal Income Tax during the
specified period. *

2.18 In the opinion of the Board the Current Assets, Loans and advances appearing in the
company s balance sheet as at the yearend would have value on realization in the
normal course of business at least equal to the respective amounts at which they are
stated in the balance sheet.

%

2.19 Under the Micro Small and Medium Enterprises Development Act 2006, certan
disclosures are required to be made relating to micro, small and medium enterprises
but the information is not available

2.20 (a) Estimated amount of Capital Commitments net of advances as at 31 03.2025
and not provided for is ^ 20 (Previous year ? 100)

(b) Contingent Liabilities 2024-25 2023-24

(Not provided for) in respect of -

- Letter of Credit 1147 1116

- Bank Guarantees 74 56

2.21 Consumption of raw materials includes foreign exchange loss of ^0 (Previous year
loss of ^0)

2.22 Retuement Benefits
Defined Benefits Plan

The company has subscribed to group gratuity policy with the Life Insurance
Corporation of India to cover its liability towards employees gratuity. Gratuity liability
has been actuarially calculated and the same has been provided for as on the date of
Balance Sheet. Summary of Gratuity Plan is given below - ^

The company extends the benefit of leave encashment to its employees while in serv ne
Leave encashment benefits are accounted for on the basis of actual valuation as at yea?
end.

Defined Contribution Plan

Contribution to Defied Contribution Plan i e contribution to Provident Fund amounting to
^18 (Previous year >T22) has been recognized as expenses in the year and charged to
revenue account These contributions are made to the fund administered and managed
by Regional Provident Fund Commissioners

2 23 Segment Information

The business segments have been identified on the basis of the products manufactured
by the Company i.e Fertilisers & Sulphuric Acid Mainly Sulphuric Acid is captively used
for production of SSP The company is managed organisationally as one unified entity
hence there are no separate geographical segments:

2.24 Deferred Tax Accounting -

tarrying amount of deferred tax assets and deferred lax liabilities as given in Ind AS
12 has been reviewed as on 31^st March. 2025 Deferred tax assets and liabilities are
measured at the present prevailing tax rate. Net deferred tax liability for the year ^24
has been recognized in the Profit and Loss Account for the year.

2 25 Management has evaluated value in use of its fixed assets, current assets and
current liabilities. Based on the past history and track records of the company has
assessed the risk of default by the customer and expects the credit loss to be
insignificant. On evaluation, management is of the opinion that there is no
impairment of the Company''s assets as on 31 ^M March 2025 and hence no provision
is required

The Company s principal financial liabilities comprise trade and other payables 1 ne
main purpose of these financial liabilities is to finance the Company''s operations The
Company s pnncipal financial assets include loans, trade and other receivables, and
cash and cash equivalents that derive directly from its operations

The .Company''s activities expose it to a variety of financial risks markel risk credil sk
and liquidity risk The Company''s focus is to foresee the unpredictability of financial
markets and seek to minimize potential adverse effects on its financial performance

Market risk is primarily in the form of exchange rate fluctuation The company is not
using forward contracts to mitigate foreign exchange related risk exposures For some
years there is very little fluctuation in foreign exchange rates

Credit risk is the risk that a customer allowed a credit facility may not honor his contract
for timely payment which may lead to financial loss to the Company Customer credit
risk is managed by marketing department through the Company''s established policy
procedures and control relating to customer credit risk management Credit quality of
each customer is assessed and credit limits are defined in accordance with this
assessment Outstanding customer receivables and security deposits are regularly
monitored.

The Company s principal source of liquidity is cash and cash equivalents and the cash
flow that is generated from operations The Company has no outstanding Term Loans
The Company''s present production and operation level is 50% There is no iquidity risk

2.34 Additional disclosures as required under schedule III of the Companies Act 2013.

1 Title deeds of all immovable properties are held in name of the Company as
at 31^s March 2025

2. The company does not hold any Investment Property in its books o''
accounts, so fair valuation of investment property is not applicable
3 The company has not revalued any of its Propeity Plant & Equipment in the
current year & last year.

4. The company has not revalued any of its intangible assets in the current year
& last year.

5. The Company has not granted any loans or advances to promoters
directors, KMP''s and the related parties that are repayable on derrmne <
without specifying any terms or period of repayment

6. Disclosures related to Capital Work-in-Progress

7 Company is not having any transaction with the Companies struck off under
Lhe section 248 of the Companies Act 2013 or Section 560 of the Companies
Act 1956

8 There are no charges or satisfaction which are to be registered with ROC

beyond statutory period

9. There is no material difference in the quarterly returns and statement ot
current assets filed by the Company with bankers with regard to working
capita’, limits.

10. The Company has not provided nor taken any loan or advance to/from any
other person or entity with the understanding that benefit of tne transacts
will go to a third party the ultimate beneficiary

11. Ratios as reauired under schedule III of Companies Act.

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Mar 31, 2024

The company extends the benefit of leave encashment to its employees while in service ¹ eave encashment benefiis are accountec for on the oasis ol actual valuation as at V^V end

l lefmerl jnt:~ nur on P an

. cnv LuLior¹: to Defined Contribution Plan i e contribution to fftqij/ident Fpnd amour liny to ^22 (Previous year has been recoomzed as expenses in the yea;'' and charged to revenue account These conm''butions are made to the fund administered anc managed ::‘y Regional praVidSnt Fund Commission''!-''s.

2.23 Segment Inlormalion

I lie busmess segments have been Identifier on the basis t>f toe produ ds manufact r eci by the Company r.e. Fertilisers $ Sulphuric Acid Mainly Sulphuric Ac d is caotively used lor production af S5P The company is managed organisationally as one u jfied entity he iice the re a re n o s ep a rate g eog ra ph i ca i s eg m ent s. ,

2.24 Deferred Tax AccuLinLiny ¦

Carrying amouni of deferred tax assets and dele: ed tax llabl lie* as g vfn in |n I AS 12 has been reviewed as on 31''"¹'' March 2024 Deterred -ax assets and ^;iabi itles are measured at the present preyai ing tax rate Net dammed tax Italdfl ty for the year ¹ has been recognized in the Protit ano Loss Account tor the year

2 25 Management has evaluated value in use oi its fixed assets, current assets and current liabilities Based oh the past history and tracK records of the company has assessed the risk of default by the customer and exacts tns crecii loss to l>? insignificant. On evaluation, management is of the opinion that there ;s ¦ impairment of the Company’s assets as on 31 *^r March 2024 and hence no provision is required

KeJated parties artr Idenliriec by the n.ansgemerl ^The fefjfrun''aration of Mr l^Jri^r-.n'' deei Smgvi as staled above is excluding gratuity funded through, LIC foi wtfijfcu ;uu.- button tt= not separately identified

2.33-F nancial risk management objectives and policies

The Company''s principal financial liabilities comprise trade and other payables. T :e main purpose of these financial liabilities is to finance the Company''s qperatic-ris Th ? Company''s principal financial assets induce loans trade and other receivables, arfil cash and cash equivalents lhal derive directly from its operations.

Toe Crmpany''s activities expose it to a variety of financial risks: market ri.Sn cred I i sk and liquidity risk. The Company''s focus fss to foresee the mpredimabi .ty of fids petal markets and seek ic rhfnlmrze potential adverse effects on its financial performance

Market risk is primarily in the farm ol exchange rate fluctuation The company is rot using fon/i/a-d conn arts to mitigate foreign exchange refated risk exposure-. For some vears there is very little fluctuation in foreign exchange rates.

Cred i risk is the risk that a customs- allowed a credit facility majjt tiai tic .01 s Contract !o- timely payment which may lead to financia loss to vie Company Customer men I risk s managed by market-ng department through the Company''s established policy procedures and control relm ng to customer credil risk, management. Credit quality of each ci stomer s assessed and credit limits aie defined in accordance with this assessment. Outstanding customer receivables and seounty deposits are ¦cgularly monitored.

The Company s principal source of liquidity is caro and cash equivalents and the cati flow that is generated from ooerations. l-;e Company has no outstanding Term Loans The Company''s present production and operation level Is 50% T here is no liquidity ns-

2,34 Additional disclosures as required uncier schedule 111 of the Com pa miss Act 20 13

'' Title deeds of atl Immovable properties are hold In name of the Com irony or at 31^s1 Ma roll 2024

2. The company does not nold any Investment Property in iis books p!

accounts, sc fair valuation of investment property j£ riot applicable

3. The company has not revalued any uf .ts Property. Plant & Equipihen '' 1 -

current year & last year

4 Tne company lias not revalued any of rts intangible assets in the curidi year & last year

b Toe Company has noL grantee any iDans or advances to promoters directors KMP''s and the ''elated parties that are repayable ori demm-- m without specifying any terms or period of repayment E. DisdoSU-es related to Captal ''i/''v''nrk-m-Progress

7. Company is net having any transaction with the Companies struck off under I he section 24S of i he Companies Act 20 I 3 or Section S&S of the Companies Act 1-95S

? There are no charges or satisfaction which are lo be registered with ROC beyond statutory period

9 There is nn material difference n the quarterly returns and statement of

curram a&sets, fiied by the Company wilh bankers with regard to woihny capital .mits

10 The Company has no: provided nor taken any loan or advance to^frorr, any other person or entity with trie understanding that benefit of the uansaiv nn wifi go tc a third party, iha ultimate benef.ciary

11 Ratios as required under ached, la til of Companies Am

2.3u i he Company has prepared financial staiements which comply with Im.l AS £p''.''plicated .or period tending 31 March, 2024. Figures in the financial statements nave beer rounded off to the nearest in lakh

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Mar 31, 2014

1. Other Explanatory notes and Information

1.1 Sundry Debtors and advances (considered good) include certain overdue debts/ old advances aggregating to Rs.8 (Previous Year Rs.8) for which necessary steps are being taken for realisation and as such no provision there against is considered necessary in these accounts.

1.2 Balances of certain Sundry Debtors, Sundry Creditors, Loans and Advances and Other Liabilities are in process of confirmation/reconciliation . The management is of the opinion that adjustment if any arising out of such reconciliation would not be material.

1.3 Sales tax remission was granted to the company by State Government initially for a period of 9 (Nine) years which ended on 30.03.2010 . The management is of the opinion that as per the law the company is entitled for remission for 13 (thirteen) years i.e. up to 30.03.2014 and necessary legal steps are being taken in this regard. VAT remission for the year amounting to Rs.221 credited directly to Capital Reserve Ale and VAT liability under dispute since 31.03.2010 aggregating Rs.871 is shown under the head Contingent Liability.

1.4 Excise duty on sulphuric acid principally used for captive consumption of SSP (Finished Goods) has not been considered for valuation of stock of sulphuric acid consistently over the years . However , excise duty on fertilizers which is chargeable since 1st March, 2011 has been considered for valuation of fertilizer inventory as on 31.03.2014 as per AS-2 .

1.5 In the opinion of the Board the Current Assets , Loans and advances appearing in the company''s balance sheet as at.the yearend would have value on realization in the normal course of business at least equal to the respective amounts at which they are stated in the balance sheet.

1.6 Under the Micro, Small and Medium Enterprises Development Act , 2006, certain disclosures are required to be made relating to micro, small and medium enterprises but the information is not available.

1.7 (a) Estimated amount of Capital Commitments net of advances as at 31.03.2014, and not provided for is Rs. 50 (Previous year Rs. 500).

(b) Contingent Liabilities 2013-14 2012-13

(Not provided for) in respect of :-

- Letter of Credit Nil 468

- Bank Guarantees 127 95

- Sales Tax matters under dispute 871 650

- Income tax matters under appeals 108 108

1.8 Consumption of raw materials includes foreign exchange loss of Rs.64 (Previous year gain of Rs.70).

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Mar 31, 2013

1.1 Sundry Debtors and advances (considered good) include certain overdue debts/ old advances aggregating to Rs. 8 (Previous Year Rs. 12) for which necessary steps are being taken for realisation and as such no provision there against is considered necessary in these accounts.

1.2 Balances of certain Sundry Debtors, Sundry Creditors, Loans and Advances and Other Liabilities are in process of confirmation/reconciliation. The management is of the opinion that adjustment if any arising out of such reconciliation would not be material.

1.3 Sales tax remission was granted to the company by State Government initially for a period of 9 (Nine) years which ended on 30.03.2010. The management is of the opinion that as per the law the company is entitled for remission for 13 (thirteen) years i.e. up to 30.03.2014 and necessary legal steps are being taken in this regard. VAT remission for the year amounting to Rs. 275 credited directly to Capital Reserve A/c and VAT iiability under dispute since 31.03.2010 aggregating x 649 is shown under the head Contingent Liability.

1.4 Excise duty on sulphuric acid principally used for captive consumption of SSP (Finished Goods) has not been considered for valuation of stock of sulphuric acid consistently over the years. However, excise duty on fertilizers which is chargeable since 1st March, 2011 has been considered for valuation of fertilizer inventory as on 31.03.2013 as perAS-2

1.5 In the opinion of the Board the Current Assets, Loans and advances appearing in the company''s balance sheet as at the year end would have value on realization in the normal course of business at least equal to the respective amounts atwhich they balance are stated in the sheet.

1.6 Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to micro, small and medium enterpriseRs. the information is not available.

1.7 (a) Estimated amount of Capital Commitments net of advances as at 31.03.2013, and not provided for is Rs. 500 (Previous year ^ (Mil).

(b) Contingent Liabilities 2012-13 2011-12 (Not provided for) in respect of :-

- Letter of Credit 468 305

- Bank Guarantees 95 55 -Sales Tax matters under dispute 650 374 -Income tax matters under appeals 108 108

1.8 Consumption of raw materials includes foreign exchange gain of Rs. 70 (Previous year gain ofRs. 39).

1.9 Retirement Benefits

Defined Benefits Plan

The company has subscribed to group gratuity policy with the Life Insurance Corporation of India to cover its liability towards employees'' gratuity. Gratuity liability has been actuarially calculated and the same has been provided for as on the date of Balance Sheet. Summary of Gratuity Plan isqiven below:-.

The company extends the benefit of leave encashment to its employees while in service. Leave encashment benefits are accounted for on the basis of actual valuation as at year end.

Defined Contribution Plan

Contribution to Defined Contribution Plan i.e. contribution to Provident Fund amounting to X 22 (Previous year 18) has been recognized as expenses in the year and charged to revenue account. These contributions are made to the fund administered and managed by Regional Provident Fund Commissioner, Jalpaiguri.

1.10 Segment Information

The business segments have been identified on the basis of the products manufactured by the Company i.e. Fertilisers & Sulphuric Acid. Mainly Sulphuric Acid is captively used for production of SSP The company is managed organisationally as one unified entity, hence there are no separate geographical segments.

1.11 Deferred Tax Accounting:-

As per the Accounting Standard 22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, deferred tax credit for the year Rs. 3 has been recognised in the Profit and Loss Account for the year. Details of Deferred Tax Assets/(l_iabilities) as on 31.03.2013 are as follows:

Tax Assets/(Liabilities) as on 31.03.2013 are as follows: -

Items under Section 43B of IT Act Rs. - 4

- Depreciation Rs. -(170)

- Net Deferred Tax Assets/(Liabilities) Rs. -(166)

1.12 Management has evaluated value in use of its fixed assets as required by Accounting Standard 28. On evaluation, management is of the opinion that there is no impairment of the Company''s assets as on 31 st March, 2013 and hence no provision is required

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Mar 31, 2012

1.1 Sundry Debtors and advances (considered good) include certain overdue debts/ old advances aggregating to Rs.12 (Previous Year Rs.12) for which necessary steps are being taken for realisation and as such no provision there against is considered necessary in these accounts.

1.2 Balances of certain Sundry Debtors, Sundry Creditors, Loans and Advances and Other Liabilities are in process of confirmation/reconciliation. The management is of the opinion that adjustment if any arising out of such reconciliation would not be material.

1.3 Sales tax remission was granted to the company by State Government initially for a period of 9 years which ended on 30.03.2010. The management is of the opinion that as per the law the company is entitled for remission for 13 years i.e. up to 30.03.2014 and necessary legal steps are being taken in this regard. VAT remission for the year amounting to Rs. 241 credited directly to Capital Reserve A/c and VAT liability under dispute since 31.03.2010 aggregating Rs.374 is shown under the head Contingent Liability.

1.4 Excise duty on sulphuric acid principally used for captive consumption of SSP (Finished Goods) has not been considered for valuation of stock of sulphuric acid under AS-2 consistently over the years. However, excise duty on fertilizers which is chargeable since 1 st March, 2011 has been considered for valuation of fertilizer inventory as on 31.03.2012.

1.5 In the opinion of the Board the Current Assets, Loans and advances appearing in the company's balance sheet as at the year end would have value on realization in the normal course of business at least equal to the respective amounts at which they are stated in the balance sheet.

1.6 Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to micro, small and medium enterprises but the information is not available.

1.7 (a) Estimated amount of Capital Commitments net of advances as at 31.03.2012, and not provided for is Rs.Nil (Previous yearRs. Nil).

(b) Contingent Liabilities

(Not provided for) in respect of 2011 -12 2010-11

- Letter of Credit 305 900

- Bank Guarantees 55 83

- Sales Tax matters under dispute 374 133

- Income tax matters under appeals 108 108

1.8 Consumption of raw materials includes foreign exchange gain of Rs. 39 (Previous year loss of Rs.4).

The company extends the benefit of leave encashment to its employees while in service. Leave encashment benefits are accounted for on the basis of actual valuation as at year end.

Defined Contribution Plan

Contribution to Defined Contribution Plan i.e. contribution to Provident Fund amounting to Rs.18 (Previous year Rs. 17) has been recognized as expenses in the year and charged to revenue account. These contributions are made to the fund administered and managed by Regional Provident Fund Commissioner, Jalpaiguri.

1.9 Management has evaluated value in use of its fixed assets as required by Accounting Standard 28. On evaluation, management is of the opinion that there is no impairment of the Company's assets as on 31 st March, 2012 and hence no provision is required.

2.1 Terms.Rights, Preferences & Restrictions attached to Shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each share holder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in .the Annual general Meeting. In the event of liquidation of the Company, the equity share holders are eligible to receive remaining assets of tfie Company, after distribution of all Preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

3. During the year ended 31st March, 2012 the revised schedule VI notified under the Companies Act, 1956 has become applicable to the Company for preparation and presentation of its financial statement. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements. The company has also reclassified the previous year's figures in accordance with the requirements applicable in the current year. In view of this reclassification certain figures of current year are not strictly comparable with those of the previous year.

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Mar 31, 2010

1. (a) Estimated amount of Capital Commitments net of advances as at 31.03.2010, and not provided for is Rs. Nil (Previous year Rs. Nil).

2. Information pursuant to the provisions of paragraphs 3,4C and 4D of Part II of Schedule VI to the Companies Act, 1956. a) The Company manufactures Single Super Phosphate (S.S.R), Granulated Single Super Phosphate (G.S.SP), Mixture Fertilisers (N:RK) and Sulphuric Acid (SA) and the relevant particulars thereof are as under :-(i) Installed Capacity (Annual) M.T. M.T.

3. Retirement Benefits Defined Benefits Plan

a) The company has subscribed to one group gratuity policy with the Life Insurance Corporation of India to cover part of its liability towards employees gratuity. Gratuity liability has not been actuarially calculated as per AS-15. However, the Gratuity liability has been provided for on estimated basis by the management.

b) The company extends the benefit of leave encashment to its employees while in service as well as on retirement Leave encashment benefits are accounted for on the basis of actual valuation as at year end.

Defined Contribution Plan Contribution to Defined Contribution Plan i.e. contribution to Provident Fund amounting to Rs.1536 (Previous year Rs. 1315) has been recognized as expenses in the year and charged to revenue account. These contributions are made to the fund administered and managed by Regional Provident Fund

4. SEGMENT INFORMATION

The business segments have been identified on the basis of the products manufactured by the Company i.e. Fertilisers & Sulphuric Acid. Mainly Sulphuric Acid is captively used for production of SSP. The company is managed organisationally as one unified entity, hence there are no separate geographical segments.

5. For the purpose of calculation of Earning Per Share in accordance with Accounting Standard 20 issued by ICAI, profit after tax Rs.5435 and 45,04,950 equity shares of Rs.10/- each fully paid up have been considered.

6. Deferred Tax Accounting:-

As per the Accounting Standard 22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, deferred tax credit for the year Rs. 1215 has been charged in the Profit and Loss Account for the year. Details of Deferred Tax Assets/(UabiIities) as on 31.03.2010 are as follows:

a. - Items under Section 43B of IT Act Rs. 497

b. - Depreciation Rs. (18757)

Net Deferred Tax Assets/(Liabilities) Rs. (18260)

7. Management has evaluated value in use of its fixed assets as required by Accounting Standard 28. On evaluation, management is of the opinion mat there is no impairment of the Companys assets as on 31st March, 2010 and hence no provision is required.

8. Figures in the Balance Sheet and Profit and Loss Account have been rounded off to the nearest thousands. 9. Previous years figures have been regrouped/rearranged wherever necessary.