Notes to Accounts of Triochem Products Ltd.

Mar 31, 2025

S Provisions, contingent liabilities and contingent assets
i Provisions:

A provision is recognized, when company has a present obligation (legal or constructive) as a result of past events and it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable
estimate can be made for the amount of obligation. The expense relating to the provision is presented in the 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
recognised as a finance cost.

li Contingent Liability

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also
arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The
Company does not recognize a contingent liability but discloses its existence in the financial statements.

Contingent liabilities, if material, are disclosed by way of notes and contingent assets, if any, are disclosed in the notes to financial
statements.

lli Contingent Assets

Contingent Assets are disclosed, where an inflow of economic benefits is probable.

T Earnings per share

i Basic earnings per share
Basic earnings per share is calculated by dividing:

- the profit attributable to owners of the Company, and

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

li Diluted earnings per share

Diluted earnings per share adjust the figures used in the determination of basic earnings per share to take into account:

- the after income tax effect of interest and other financing costs associated with dilutive potential equity shares; and

- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive
potential equity shares.

U Lease Accounting

As a lessee, the Company previously classified leases as operating or finance leases based on its assessment of whether the lease
transferred significantly all of the risks and rewards incidental to ownership of the underlying asset to the Company. Under Ind AS 116,
the Company recognizes right of use assets and lease liabilities for most leases i.e. these leases are on balance sheet.

On transition, the Company has applied fbUowingjvactial expedients: .-5===-^.

i Applied a single discount rate to a portftlfiMiEJeiSiBsfipnlar assets in similar economic enwomBCtir wjjfesftttilar end date.

ii Applied the expemption not to recognise right-of-use-assets and liabilities for leases with less than 12 months of lease term on the
date of transition.

lii Excluded the initial direct costs from the measurement of the right-of -use-asset at the date of transition.

It Grandfathered the assessment of which transactions are, or contain leases. Accordingly, Ind AS 116 is applied only to contracts that
were previously identified as leases under Ind AS 17.

v Relied on its assessment of whether leases are onerous, applying Ind AS 37 immediately before the date of initial application as an
alternative to performing an impairment review.

vi Used hindsight when determining the lease term if the contract contains options to extend or terminate the lease.

V Employee benefits

i Short-term obligations

Liabilities fair wages, salaries and leave encashment 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 recognised 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.

ii Other long-term employee benefit obligations

The liabilities for earned 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 appropriate market yields at the end of the reporting period that have terms approximating to the
terms of the related obligation. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are
recognised in profit or loss.

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 setdement is expected to occur.

iii Post-employment obligations

The group operates the following post-employment schemes:
a Defined benefit gratuity plan:

Gratuity and Leave encashment which are defined benefits are accrued based on actuarial valuation working provided by
Independent actuary, The Contribution is charged to profit and loss.

The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined
benefit obligation at the end of the reporting period less the fair value of plan. The defined benefit obligation is calculated annually
as per the report on independent actuary. The present value of the defined benefit obligation is determined by discounting the
estimated future cash outflows by reference to market yields at the end of the reporting period on government bonds that have
terms approximating to the terms of the related obligation. The net interest cost is calculated by applying the discount rate to the
net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in
the statement of profit and loss. Remeasurement gains and losses arising from experience adjustments and changes in actuarial
assumptions are recognised in the period in which they occur, directly in other comprehensive income. They are included in
retained earnings in the statement of changes in equity and in the balance sheet.

b Defined Contribution plan:

Contribution payable to recognised provident fund and superannuation scheme which is defined contribution scheme is charged to
Statement of Profit & Loss. The company has no further obligation to the plan beyond its contribution.

W Cash Flow Statement

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

X Operating Cycle

Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their realisation in cash
or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of classification of its assets and
liabilities as current and non current.

Y Rounding of amounts ________

All amounts disclosed in the financial state(MK2mS$gQ»Kive been rounded off to the nearest fokitedsUcs (M_rio\two decimals),
unless otherwise stated as per the requiremjnr''of Schedule''WjiWvlsion II), ’ "01 M u mb a i ] 3 |]

29 EXCEPTIONAL ITEMS

During the previous year, the company has complied with circular no. 16/2023-Cus dated 7th June 2023 issued by The Central Board of Indirect
taxes and Customs Drawback division for compliance with the pre-import condition for payment of IGST and interest thereon for imports made
under Advance Authorization on or after 13th October 2017 till 9th January 2019 on which IGST exemption had been availed. As per the circular
the company was non-compliant with the ''pre-import'' conditions as defined in the revised circular no. 16/2023-Cus dated 7th June 2023 due to
which the company was liable to pay 8s. 259.87 lakhs including interest. The Company has claimed the credit of IGST paid and the interest
portion amounting to Rs. 115.65 lakhs has been shown under Exceptional items.

30 Financial Risk Management

The Company’s activities expose it to credit risk, liquidity risk and price risk.

This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact thereof in the financial
statements.

The Board provides guiding principles for overall risk management, as well as policies covering specific areas such as credit risk, liquidity risk,
price risk and foreign exchange risk effecting business operation. The company’s risk management is carried out by the management as per
guidelines and policies approved by the Board of Directors.

(A) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.
Credit risk encompasses the direct risk of default, risk of deterioration of creditworthiness as well as concentration risks. The Company is
exposed to credit risk from its operating activities (primarily trade receivables), deposits with banks and loans given.

Credit Risk Management

The company''s credit risk mainly from trade receivables as these are typically unsecured. This credit risk has always been managed through
credit approvals, establishing credit limits and continuous monitoring the creditworthiness of customers to whom credit is extended in the
normal course of business. The Company estimates the expected credit loss based on past data, available information on public domain and
experience. Expected credit losses of financial assets receivable are estimated based on historical data of the Company. The company has
provisioning policy for expected credit losses.

36 Capital Management
(i) Risk Management

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity
holders. The primary objective of the Company capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the
financial covenants. The Company monitors capital using a gearing ratio and is measured by net debt divided by Equity. The Company’s Debt is
defined as long-term and short-term borrowings including current maturities of long term borrowings and total equity (as shown in balance sheet)
includes issued capital and all other reserves.

The management assessed that Cash and Cash equivalents, loans, other balances with Banks, trade receivables, trade payables and other current
liabilities/assets approximate their carrying amounts largely due to the short-term maturities of these instruments.

39 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation as per the schedule III of
Companies Act, 2013

As per our report of even date attached.

For Kanu Doshi Associates LLP For and on behalf of Board of Directors ''

Chartered Accountants }

/ Grace R. Deora Puran Parmar

¦---^ |tr7 ^HJKIRa V^l Director (DIN: 00312080) Chief Financial Officer

Kuna) Vakharia ¹ /*/ l«V(V<

Partner -__——--. pj

Membership No.: 148916 l -----

Ramu S. Deora Ureca Deokkar

Director (DIN: 00312369) Company Secretary

Place: Mumbai
Dated: 24th May, 2025

---

Mar 31, 2024

S Provisions, contingent liabilities and contingent assets

i Provisions:

A provision is recognized, when company has a present obligation (legal or constructive) as a result of past events and it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable
estimate can be made for the amount of obligation. The expense relating to the provision is presented in the 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
recognised as a finance cost.

ii Contingent liability

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also
arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The
Company does not recognize a contingent liability but discloses its existence in the financial statements.

Contingent liabilities, if material, are disclosed by way of notes and contingent assets, if any, are disclosed in the notes to financial
statements.

iii Contingent Assets

Contingent Assets are disclosed, where an inflow of economic benefits is probable.

T Earnings per share

i Basic earnings per share

Basic earnings per share is calculated by dividing:

- the profit attributable to owners of the Company; and

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

ii Diluted earnings per share

Diluted earnings per share adjust the figures used in the determination of basic earnings per share to take into account:

- the after income tax effect of interest and other financing costs associated with dilutive potential equity shares; and

- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive
potential equity shares.

U Lease Accounting

As a lessee, the Company previously classified leases as operating or finance leases based on its assessment of whether the lease
transferred significantly all of the risks and rewards incidental to ownership of the underlying asset to the Company. Under IndAS 116,
the Company recognizes right of use assets and lease liabilities for most leases i.e. these leases are on balance sheet.

On transition, the Company has applied foflowingpgcliGalapedients:

i Applied a single discount rate to a portfolk^®S^^^l|ir assets in similar economic envirofi^^^^^tafilar end date.

/J^/ \ s*v\ // c7/ WAV

ii Applied the expemption not to recognise right-of-use-assets and liabilities for leases -with less than 12 months of lease term on the
date of transition.

iii Excluded the initial direct costs from the measurement of the right-of -use-asset at the date of transition.

iv Grandfathered the assessment of which transactions are, or contain leases. Accordingly, Ind AS 116 is applied only to contracts that
were previously identified as leases under Ind AS 17.

v Relied on its assessment of whether leases are onerous, applying Ind AS 37 immediately before the date of initial application as an
alternative to performing an impairment review.

vi Used hindsight when determining the lease term if the contract contains options to extend or terminate the lease.

V Employee benefits

i Short-term obligations

liabilities for wages, salaries and leave encashment 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 recognised 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.

ii Other long-term employee benefit obligations

The liabilities f_or earned 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 appropriate market yields at the end of the reporting period that have terms approximating to the
terms of the related obligation. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are
recognised in profit or loss.

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.

iii Post-employment obligations

The group operates the following post-employment schemes:
a Defined benefit gratuity plan:

Gratuity and Leave encashment which are defined benefits are accrued based on actuarial valuation working provided by
Independent actuary. The Contribution is charged to profit and loss.

The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined
benefit obligation at the end of the reporting period less the fair value of plan. The defined benefit obligation is calculated annually
as per the report on independent actuary. The present value of the defined benefit obligation is determined by discounting the
estimated future cash outflows by reference to market yields at the end of the reporting period on government bonds that have
terms approximating to the terms of the related obligation. The net interest cost is calculated by applying the discount rate to the
net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in
the statement of profit and loss. Remeasurement gains and fosses arising from experience adjustments and changes in actuarial
assumptions are recognised in the period in which they occur, directly in other comprehensive income. They are included in
retained earnings in the statement of changes in equity and in the balance sheet.

b Defined Contribution plan:

Contribution payable to recognised provident fund and superannuation scheme which is defined contribution scheme is charged to
Statement of Profit & Loss. The company has no farther obligation to the plan beyond its contribution.

W Cash How Statement

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

X Operating Cycle

Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their realisation in cash
or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of classification of its assets and
liabilities as current and non current.

Y Rounding of amounts

All amounts disclosed in the financial statements aJ^roef^E^TOp^ounded off to the n^tt^^it^e^sfitmbip to two decimals),
unless otherwise stated as per the requirement of i®dule III (Divisiotiw lJi/ \VA\

15f iSsi I ]

The Board provides guiding principles for overall risk management, as well as policies covering specific areas such as credit nsk, liquidity nsk,
price risk and foreign exchange risk effecting business operation. The company’s risk management is carried out by the management as per
guidelines and policies approved by the Board of Directors.

(A) Credit Bisk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.
Credit risk encompasses the direct risk of default, risk of deterioration of creditworthiness as well as concentration risks. The Company is
exposed to credit risk from its operating activities (primarily trade receivables), deposits with banks and loans given.

Credit Bisk Management

The company’s credit risk mainly from trade receivables as these are typically unsecured. This credit risk has always been managed through
credit approvals, establishing credit limits and continuous monitoring the creditworthiness of customers to whom credit is extended in the
normal course of business. The Company estimates the expected credit loss based on past data, available information on public domain and
pvp prion pp Expected credit losses of financial assets receivable are estimated based on historical data of the Company. The company has
provisioning policy for expected credit losses.

On adoption of hid AS 109, the Company uses expected credit loss model to assess the impairment loss or gain.

(C) Foreign Currency risk disclosure
A Currency risk

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The
Company is exposed to the effects of fluctuation in the prevailing foreign currency exchange rates on its financial position and cash flows.
Exposure arises primarily due to exchange rate fluctuations between the functional currency and other currencies from the Company’s
operating, investing and financing activities. For the year ended 31st March 2024, no outstanding trade receivables and trade payables lying in
foreign currency.

(D) Market risk
A. Price risk
Exposure

The company’s exposure to equity securities/mutual fund price risk arises from 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.

To manage its price risk arising from investments te^^^^^pri^s/mutual fund, the compray^feereifies its portfolio. Diversification of the
portfolio is done in accordance with the limits se(?j^KCom^^^^t, ¹⁰ ^

(E) Price risk /#/

The company is exposed to price risk in basi|pigredan^^ComKSws raw material lf§ |^Q^gg|[®iga|erials from vendors directly. The
Company monitors its price risk and factors the^ee increase of the products.y^JJ

(i) Bisk Management

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to the
equity holders. The primary objective of the Company capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the
financial covenants. The Company monitors capital using a gearing ratio and is measured by net debt divided by Equity. The Company’s Debt is
defined as long-term and short-term borrowings including current maturities of long term borrowings and total equity (as shown in balance
sheet) includes issued capital and all other reserves.

37 Segment Reporting

The Company is engaged primarily in the busin£s§,Qf manufacturing and export of phamaceuticals products, APIs and chemicals. All other
activities of the company revolve around Ae^^MS^^^and hence there is no reportable Also the Company does not

have any reportable geographical segmenOpm^ dis35st®Kpursuant to the Indian Accoir^^g^t^to^^^Operating Segment" are not
applicable. fsf (1^7 ,

Jf jfV

I I. ; I >**r / r*r $$

39 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation as per the schedule DI
of Companies Act, 2013.

As per our report of even date attached.

) For Kanu Doshi Associates LLP For and on behalf of Board of Directors „

Chartered Accountants ,1

Firm KegHMton No, 10474^^^^, g . L^-

|/A Grace R.Deora PuranParmar

—’ j? I ]t] Director (DIN: 00312080) Chief Financial Officer ^

KunalVakharia /5y p.

Partner (\ \ \ _rt> r

Membership No.: 148916 ’ —-•

Ramii S .T)eara~ Ureca Deolekar

U3P5M ^ ik&''&CQO IrCfceff***^(DM: °°^312369) Company Secretary

Dated: 28th May, 2024

---

Mar 31, 2015

Note 1:

Pursuant to Schedule II Companies Act, 2013 ('the Act') being effective from April 1, 2014, the Company has revised depreciation rates on tangible fixed assets as per useful life specified in Part 'C' of Schedule II of the Act and due to the same there has been a change in the estimated useful life of depreciable tangible assets which affects the depreciation in the current year ending 31st March, 2015 and in each period during the remaining useful life of the assets.

Accordingly, the Company has re-worked depreciation with reference to the estimtated economic lives of Fixed Assets prescribed by Schedule II of the Act during the year ended 31st March, 2015. In case of any asset whose life is completed as at 1st April 2014, the carrying amount (Net of residual value) of Rs. 6,075/- (net of deffered tax impact of Rs. 2,716/-) has been adjusted to the Retained Earings and in other cases the carrying amount has been depreciated over the remaining of the revised life of the assets. As a result the charge for depreciation is higher by Rs. 5,72,466/- for the year ended 31st March, 2015.

2 CONTINGENT LIABILITIES AND COMMITMENTS

Particulars As at 31-Mar-15 As at 31-Mar-l4

Contingent Liability:-

a Disputed Tax Liability 321,069 321,069

Commitments:-

a Estimated amount of contracts remaining to be executed on capital a/c - 75,634

3 LEASE (ASSETS GIVEN ON LEASE)

1 The Company's major Leasing arrangement are in respect of residential flat given on Leave and License Basis.

These leasing arrangements which are cancellable and is for a period of 33 months and usually renewable by mutual consent.

3 Rental Income of Rs, 6,05,000/- (Previous Year Rs.6,60,000/-) from Operating leases are recognised in the Statement of Profit & Loss and grouped under the Note No. 19 'Other Income'.

4 There are no contingent rent recognised in Statement of Profit and Loss.

4 SEGMENT REPORTING

1 The Company has got only one Primary Business Segment namely Pharmaceuticals.

2 The information about the Geopraphical Secondary Segment are as under:

2 Defined Benefit Plan

Gratuity which is defined benefits are accrued based on actuarial valuation as at balance sheet date by an independent actuary. The Company has Schemes for long-term benefits Gratuity. In case of funded scheme, the funds are recognized by the Income tax authorities and administered through trustees / appropriate authorities and the contribution is charged to the Statement of Profit and Loss. In terms of the Guidance on implementing the revised AS 15, issued by the Accounting Standards Board ofthe Institute of Chartered Accountants of India the related disclosures are as under:

The following table sets out the assumptions taken, status of the gratuity plan, the amount recognised in the Company Financial Statements as on 31st March, 2015.

5 Balances of Trade receivable, Trade payable, Loans & Advances are subject to confirmation and consequential adjustments, if any.

6 In the opinion of the Board, amounts of Current Assets, Loans & Advances have a value on realisation in the ordinary course of business at least equal to at which they are stated.

7 CORPORATE INFORMATION

Triochem Products Limited ( the 'Company) is a public limited company domiciled in India and is listed on the Bombay Stock Exchange (BSE), The Company was established in 1972 as a Manufacturer & Exporter of Pharmaceutical Bulk Drugs, APIS & Chemicals.

8 The closing stock is meant for export and accordingly no provision for excise duty is required to be made.

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Mar 31, 2014

1 There are no dues to Micro Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006. This disclosure Is based on the information available with the Company and the same has been relied upon by the auditors.

2 CONTINGENT LIABILITIES AND COMMITMENTS

Particulars As at As at 31-Mar-14 31-Mar-13

Contingent Liability not provided for in respect of a Disputed Tax Liability 321,069 321,069

Commitments not provided for in respect of a Estimated amountofcontractsremainingto be executed on capital a/c 75,634 -

3 LEASE(ASSESTS GIVEN ON LEASE)

1 The Company''s major Leasing arrangement are in respect of residential flat given on Leave and License Basis.

2 Description of Assets provided on operating lease are as follows:

3 Rental Income of Rs. 6,60,000/- (Previous Year Rs.6,60,000/-) from Operating leases are recognised in the Statement of Profit & Loss and grouped underthe schedule of ''Other Income''.

4 There are no contingent rent recognised in Statement of Profit and Loss.

4 SEGMENT REPORTING

1 The Company has got only one Primary Business Segment namely Pharmaceuticals,

2 The information about the Geopraphical Secondary Segment are as under:

Note:

1 Segment Assets are disclosed based on their geographical location.

2 The segment revenue in the geographical segments considered for disclosure are as follows

a Revenue within India includes sales to customers located within India, b Revenue outside India includes sales to customers located outside India.

3 Figures in brackets are in respect of previous year.

5 RELATED PARTY DISCLOSUERS

1 Key Managerial Person

Mr. RamuS. Deora( Director)

2 Name of Related Parties Nature of Relationship

GAmphray Laboratories Key Managerial Person is Proprietor

G Amphray Pharmaceuticals Pvt Ltd Relative of Key Management have control

Triochem Laboratories Pvt Ltd, Relative of Key Management have control

3 Transactions that have taken place during the year with related parties by the Company

6 EMPLOYEE BENEFIT

As per Accounting Standard 15 "Employee Benefits", the disclosures of Employee Benefits as defined in the said Accounting Standards are given below 1 Defined Contribution Plan Contribution to Defined Contribution Plan recognised as an expenses for the year are as under:

2 Defined Benefit Plan

Gratuity which is defined benefits are accrued based on actuarial valuation as at balance sheet date by an independent actuary. The Company has Schemes for long-term benefits Gratuity. In case of funded scheme, the funds are recognized by the Income tax authorities and administered through trustees / appropriate authorities and the contribution Is charged to the Statement of Profit and Loss. In terms of the Guidance on implementing the revised AS 15, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India the related disclosures are as under:

7 Balances of Trade receivable, Trade payable, Loans & Advances are subject to confirmation and consequential adjustments, if any

8 In the opinion of the Board, amounts of Current Assets, Loans & Advances have a value on realisation in the ordinary course of business at least equal to at which they are stated.

9 The Previous Year''s figures have been rearranged / regrouped/ restated / reclassified, wherever necessary to make them comparable confirm with the currentyear presentation as per revised schedule VI.

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Mar 31, 2013

1.1 EMPLOYEE BENEFIT

As per Accounting Standard 15 "Employee Benefits", the disclosures of Employee Benefits as defined in the said Accounting Standards are given below

1.2 Defined Benefit Plan Gratuity which is defined benefits are accrued based on actuarial valuation as at balance sheet date by an independent actuary. The Company has Schemes for long-term benefits Gratuity. In case of funded scheme, the funds are recognized by the Income tax authorities and administered through trustees / appropriate authorities and the contribution is charged to the Profit and Loss Account. In terms of the Guidance on implementing the revised AS 15, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, The related disclosures are as

1.3 Balances of Trade receivable, Trade payable, Loans & Advances are subject to confirmation and consequential adjustments, if any

1.4 In the opinion of the Board, amounts of Current Assets, Loans & Advances have a value on realisation in the ordinary course of business at least equal to at which they are stated.

1.5 The Previous Year''s figures have been rearranged / regrouped/ restated / reclassified, wherever necessary to make them comparable / confirm with the current year presentation as per revised schedule VI

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Mar 31, 2012

The Previous Year's figures have been rearranged/regrouped/restated/ reclassified, wherever necessary to make them comparable/confirm with the current year presentation as per revised schedule VI.

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

Accounting Policies:

1 Investments are either classified as Current or Long Term based on Management's Intention at the time of purchase. Long Term Investments are stated at cost of acquisition. Provision for diminution In value of Investments is made only if such decline is other than temporary in the opinion of the management.

2 Dividend are accounted for as and when received

Note:

1 Segment Assets are disclosed based on their geographical location.

2 The segment revenue in the geographical segments considered for disclosure are as follows :-

a Revenue within India Includes sales to customers located within India.

b Revenue outside India includes sales to customers located outside India.

3 Figures in brackets are in respect of previous year

2.1 RELATED PARTY DISCLOSURES:

1 Key Managerial Person

Mr. Ramu S. Deora (Director)

2 Name of Related Parties Nature of Relationship

4 R Millenium Securities Directors are Key Managerial Personnel

Ambernath Plasto Packaging Pvt Ltd Relative of Key Management have control

Avas Properties and investments Pvt Ltd Directors are Key Managerial Personnel

Deora Investment Pvt Ltd Relative of Key Management have control

G Amphray Laboratories Directors are Key Managerial Personnel

G Amphray Pharmaceuticals Pvt Ltd Relative of Key Management have control

Genuine Properties and Investments Pvt Ltd Relative of Key Management have control

Mr. Rajesh R. Deora Relative of Key Management Personnel

Mr. Rajiv R. Deora Relative of Key Management Personnel

Mrs. Grace R. Deora Relative of Key Management Personnel

Triochem Laboratories Pvt Ltd Relative of Key Management have control

Note:

1 The above information have been given based on Information provided by an independent actuary.

Accounting Policies:

1 Liabilities in respect of defined benefit plans other than Provident Fund are determined based on actuarial valuation made by an Independent actuary as at the balance sheet date. The acturial gains or losses are recognised Immediately in the Profit and Loss Account

2 Contribution payable to the recommended Provident Fund and ESIC payments have been charged to revenue.

3 Short term employee benefits are recognised as an expense at the undiscounted amounts in the Statement of Profit and Loss of the year in which the related service is rendered

2.2 Balances of Trade receivable, Trade payable, Loans & Advances are subject to confirmation and consequential adjustments, if any

2.3 In the opinion of the Board, amounts of Current Assets, Loans & Advances have a value on realisation in the ordinary course of business at least equal to at which they are stated.

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Mar 31, 2010

1 Estimated amount of contracts remaining to be executed on capital account and not provided for Rs 4,94,366/- ( Previous Year Rs Nil)

2 CONTINGENT LIABILITY (notprovided for):

A Disputed Electricity Charges payable to Maharashtra State Electricity Board Rs. Nil (Previous Year Rs.4,01,034/-)

B Disputed Water Charges payable to Maharashtra Industrial Development Corporation Rs.80,124/- (Previous Year Rs. 80,124/-) C Disputed Income Tax Liability Rs. 3,68,617/- ( Previous Year Rs. 3,68,617/-) for which Company has gone into appeal.

3 EMPLOYEE BENEFITS:

The disclosures as required under the revised AS 15 are as under:

The Company has Schemes for long-term benefits such as Provident Fund and Gratuity. In case of funded scheme, the funds are recognized by the Income tax authorities and administered through trustees / appropriate authorities. The Companys defined benefit plan include Gratuity. In terms of the Guidance on implementing the revised AS 15, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, the provident fund set up by the Company is treated as a defined Contribution plan. The related disclosures are as under: A Contribution to Provident Fund Rs 23,460/- (Previous Year Rs 20,749/-) B Defined Benefit Plan

Notes:

A Segment Assets are disclosed based on their geographical location.

B The segment revenue in the geographical segments considered for disclosure are as follows:-

I Revenue within India includes sales to customers located within India.

II Revenue outside India includes sales to customers located outside India. C Figures in brackets are in respect of previous year.

4 DISCLOSURE FOR OPERATING LEASES:

The Companys major leasing arrangement are in respect of residential flat / godown given on leave and licence basis. Rental Income Rs 15,60,000/- (Previous Year Rs 15,40,000/-) are recognised in Profit and Loss account and grouped under schedule of" Other Income"

Note : The Company has adopted Accounting Standard - 22 " Accounting for tax on Income " with effect from 01.04.2001, Unabsorbed Depreciation has been recognised as Deferred Tax Assets since the same can be carried forward for unlimited period under the provisions of Income Tax Act, 1961.

The (Increase) / Decrease in Stock of Finished Goods for the Current Year represents obsolete Inventory written off of Rs Nil (Previous Year Rs Nil) 16 There are no dues to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act 2006, This disclosure is based on the information available with the Company and the same has been relied upon by the auditors.

5 The manufacturing activity of Bulk Drug as well as Formulation Plant remain suspended since 30th November, 1999 due to labour problem. However the manufacturing of formulation against Export order is continued on job work basis. The mutual settlement has been arrived between workmen, union and the management.

6 Previous Years figures have been rearranged/regrouped/restated wherever necessary to make them comparable with the Current Year.