Notes to Accounts of Uniroyal Marine Exports Ltd.

Mar 31, 2024

42. Provision for gratuity liability has been made on the basis of independent actuarial valuation, and the
same is not funded. As the company was hither to carrying business loss of earlier years, and shortage in
working capital, the company has not funded defined benefit plans as mandated in IND AS 19 ‘Employees
Benefit''.

43. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.125 of
the Companies Act, 2013, as at the end of the year.

44. Cash Flows has been prepared under the ‘Indirect Method'' as set out in Ind AS 7, ‘Statement of Cash
Flows''.

45. Segmental Reporting

The Company is engaged in the sale of value of Marine Products. In addition to the export of Marine
products, the company has undertaken domestic sales and also started processing of marine products
belonging to others which is considered as a separate operating segment in accordance with Ind AS 108
on operating segments . The details related to these operating segments to the extent of information that
can be made available are as below.

46. Quarterly financial results are published in accordance with the listing agreements.

47. During the year, company could not achieve the sales volume due to general slowness in the sea food
industry and also cancellation/ postponement of certain orders. The profitability of the company is very
badly effected during the year and company incurred a loss of Rs. 275.21 lakhs for the year ended
31.03.2024. The loss during the year has also affected the liquidity position of the Company to a certain
extent. The company''s management is hopeful of realizing its current assets including the stock in hand
from future orders and is hopeful of discharging its liabilities as and when due and is able to continue as a
going concern.

48. Financial Liabilities

During the year the Company has received interest free security deposit of Rs.50 lakhs, which is treated
in accordance with Ind As 109 by applying bank rate of interest for arriving at the present value of
financial obligation . An amount of Rs. 2.37 lakhs as interest expense and Rs. 2.70 Lakhs deferred income
in accordance with the requirements of IND AS 109 on Financial Instruments

50. Additional Regulatory Information

i) The Title deeds pertaining to the immovable properties (except properties which are leased by the
company with duly executed lease agreements in the company''s favour) disclosed in the financial
statements are held in the name of the company.

ii) The Company has not revalued any of its Plant, Property and Equipment''s or intangible assets
during the year.

iii) The Company has not granted any loans or advances in the nature of loans to promoters, Directors,
KMPs. The Company has given trade advances to its wholly owned subsidiaries. In the case of
advances to related party, Interest is charged on the outstanding balances.

iv) The Company does not have any Benami property, and no proceeding has been initiated or pending
against the Company for holding any Benami property under the Benami Transactions
(Prohibition) Act, 1988 and rules made thereunder.

v) The company keeps inventory based on the availability of raw materials especially deep sea
prawns, and keep them in frozen form. The inventories are physically verified by the management
during the year and is found in good condition and are saleable in the normal course of business
depending on the export orders and all the items in inventory are within the shell life of the
products.

vi) The Company has not been declared a willful defaulter by any bank or financial institution or
government or government authority.

vii) The Company do not have any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956.

viii) The Company has not registered charges on loan sanctioned under Guarantee Emergency Credit
Line (GECL) scheme.

ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of
the Act read with the Companies (Restriction on number of Layers) Rules, 2017. There are no
relationship / extent of holding of the company in companies beyond the specified layers and the in
such downstream companies.

x) There are no scheme of arrangement approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013 during the year and so there is no effect is required to be
given in books of accounts the company.

xi) The Company has not advanced or loans or invested funds to any other persons or entities,
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

(b) provide any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.

xii) The Company has not received any fund from any persons or entities, including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the
Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

xiii) The Company has not traded or invested in Cryptocurrency or Virtual Currency during the year
ended March 31, 2024.

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

xv) There are no material uncertainty exists related to events or conditions that may cast significant
doubt on the Company''s ability to continue as a going concern. The Company will continue as a
going concern and is able to meet its liabilities as and when it is due and is able to realise the assets
in the ordinary course of the business of the Company.

51. Audit Trail

As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014, for the financial year commencing April 1, 2023, every company which
uses accounting software for maintaining its books of account, shall use only such accounting
software which has a feature of recording audit trail of each and every transaction, creating an
edit log of each change made in the books of account along with the date when such changes
were made and ensuring that the audit trail cannot be disabled.

The Company has used an accounting software for maintaining its books of account which has a
feature of recording audit trail (edit log) facility that has operated throughout the financial year
for all relevant transactions except:

for changes to certain tables where audit trail is not activated as part of default settings of the ERP
vendor. Also the Company is using a different software for recording of stock movement where
the audit trail facility is not been enabled

52. The standalone financial statements were authorized for issue in accordance with a resolution
Passed by the Board of Directors on 11.06.2024.

For and on behalf of the Board of Directors As per our report of even date attached

Sd/- Sd/-

Anush K. Thomas Nithya Alex

Managing Director Director

DIN: 01254212 DIN:02191256 For BSJ & Associates

Chartered Accountants
FRN:010560S

Sd/- Sd/-

Manjusha Mohandas Nair Bindu Suresh M

Company Secretary Chief Financial Officer ^Sd/-

CA. Jobby George
Partner (m. No.2U174)

UDIN: :24211174BKBNJU6226

Place: Vengalam
Date: 11-06-2024

---

Mar 31, 2015

Note 1: Segment reporting

The company has only one segment. The company's operation predominantly related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS 17, separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in time with AS 17 on Segment Reporting. Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the current year ended March 31, 2015 & Previous year ended 31st March 2014 have been prepared as per Schedule III of Companies Act 2013.

Note 3: Contingent Liabilities and commitments

For the year For the year Contingent liabilities and commitments ended 31 ended 31 (to the extent not provided for) March 2015 March 2014

(i) Contingent Liabilities

(a) Claims against the company not acknowledged as debt

Income Tax demand under appeal Nil 2,701,190

(b) Guarantees

1. Infavour of Spl.Tahsildar

2. In favour of KSEB 127,765 127,765

908,610 885,280

(c) Other money for which the company is contingently liable (Bills purchased by Banks) 72,504,177 34,416,267

73,540,552 38,130,502

(ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for Nil Nil

(b) Uncalled liability on shares and Nil Nil other investments partly paid

(c) Other commitments Nil Nil

Nil Nil

TOTAL CONTINGENT LIABILmES 73540552 38130502 AND COMMITMENTS

Note: 4 Related Parties Disclosure (a)Details of Related Parties:

Description of Relationship

Names of Related Parties

Key Management Personnel

Mr. Anush K Thomas - Managing Director

Mr. Iype Mathew- Director

Mr. K C Thomas- Director

Ms. Nithya Alex - Director

Mr. Mohanlal- Director

Mr. Nathram- Director

Mr. Thomas P Koshy- Chief Executive

Mr. Joseph P G- Company Secretary

Ms. Bindu Suresh- CFO

Company inwhich KMP/Relatives ofKMP can exercise si£nificant influence

M/s. Max Lab Cinemas And Entertainment Private Limited

M/s. Laab M Screens Private Limited

M/s. Vismayas Max Studio Complex Private Limited

M/s. Anuja Property Developers Private Limited

M/s. Surefire Securities Private Limited

M/s. Baby Memorial Hospital Limited

M/s. Caleb Securities Private Limited

M/s. Alston Builders And Developers Private Limited

M/s. Avruti Mall Management Company Private Limited

M/s. Kensha Builders And Developers Private Limited

M/s. Freo Rentals And Leasing Private Limited

M/s. Gilgal Property Developers Private Limited

M/s. Casper Securities Private Limited

M/s. Himax Builders India Private Limited

M/s. Cornelian Realtors And Developers Private Limited

M/s. Acelin Projects Private Limited

M/s. Enso Financial Consultancy Private Limited

M/s. Baby Marine Eastern Exports, Mandapam

M/s. Baby Marine Products, Malpe

M/s. Baby Marine Exports, Calicut

M/s. Tharian & Iype, Chartered Account ants

M/s. Ramnath & Co

M/s. Pranavam Arts

M/s. Lakshmi Agencies

Relatives of KMP with whom transactions have taken place during the year (other than those in the ordinary course of business) : NIL

Note:5

In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balance sheet unless otherwise stated

Note:6

Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of accounts only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

Note:7

Export premium and incentives are accounted on Receipt Basis.

Note:8

No amount is due for transfer to Investor-Education and Protection Fund in accordance with Sec.125 ofthe Companies Act, 2013, as at the end ofthe year.

Note:9

Cash Flow Statement is prepared under indirect method.

Note:10

Borrowing Cost:Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

Note:11

Quarterly financial results are published in accordance with the listing agreements.

---

Mar 31, 2014

1. LONG TERM PROVISIONS

Export packing credit limit of Rs. 7 Crores secured by first charge on all the goods to be exported and the whole of the company''s stock of marine products and also charge by way of hypothecation on land, building, machineries and equipments, ** and also personal guarantee of Mr. K C Babu, repayable on demand.

FDBP discounted as on 31.3.2014 has been secured against document of title to goods, evidencing export against LC and also by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C ** Babu, repayable on demand.

2. SEGMENT REPORTING

The company has only one segment. The company''s operation predominantly related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS - 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in tune with AS 17 on Segment Reporting. Operation ofthe company is at present only in India within a single geographical segment.

3. PREVIOUS YEAR FIGURES

The financial statements for the current year ended March 31, 2014 & Previous year ended 31st March 2013 have been prepared as per Revised Schedule VI.

4. CONTINGENT LIABLITIES AND COMMITMENTS

Contingent liabilities and commitments For the year For the year (to the extent not provided for) ended ended 31 March 2014 31 March 2013

(i) Contingent Liabilities

(a) Claims against the company noT acknowledged as debt 2,701,190 0.00

(b) Guarantees

1. Infavour of Spl.Tahsildar 127765 127765

2. In favour of KSEB 885280 885280

(c) Other money for which the company is contingently liable (Bills purchased by banks) 34416267 36884346

35429312 367897391

(ii) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for Nil Nil

(b) Uncalled liability on shares and other investments partly paid Nil Nil

(c) Other commitments Nil Nil

Nil NiL

38130502 367897391

5. Related Parties Disclosure

Relationship

1. M/s.Baby Marine Eastern Exports 11. M/s.Ramanath & Co.

2. M/s.Tharian & Iype 12. M/s.Pranavam Arts

3. M/s.Thomsun Electronics 13. M/s.Thomsun Supermarket

4. M/s.Thomsun Musics 14. M/s.East Fish Private Limited

5. M/s.Laxmi Agencies 15. M/s.Modus Logistic Pvt. Ltd.

6. M/s.Alston Builders & Developers 16. M/s.Casper Securities Pvt. Ltd. Pvt. Ltd.

7. M/s.Kensha Builders & Developers 17. M/s.Sure Fire Securities Pvt.Ltd. Pvt. Ltd.

8. M/s.Gilgal Property Developers 18. M/s.Clenergen India Pvt. Ltd. Pvt. Ltd.

9. M/s.Max Lab Cinemas and Entertainment Pvt. Ltd.

10. M/s.Falcon Infrastructures Limited

Note: Related party relationship is as identified by the company and relied upon by the auditors.

Transaction with related parties :-Nil

6. In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balance sheet unless otherwise stated.

7.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

8. Export premium and incentives are accounted on receipt basis.

a. Payment made to Directors

Directors are not claiming any commission and hence calculation of net profit under section 349 of the Companies Act, 1956 for computation of eligible commission to Directors are not given.

9. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205C of the Companies Act, 1956, as at the end of the year.

10. Cash Flow Statement is prepared under indirect method.

11. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

12. Allotment money of Rs. 1, 11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period.

13. Quarterly financial results are published in accordance with the listing agreements.

Notes: The above cash flow statwment has been prepared under the indirect method set out in As-3 issused by the Institute of Chartered Account of India.

Figures in brackets are outflows.

Previous year figures have been regrouped wherever necessary.

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Mar 31, 2013

Note 1: Segment reporting

The company has only one segment. The company''s opeartion predominently related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS - 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover.Segment has been identified in time with AS 17 on Segment Reporting.Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the current year ended March 31, 2013 & Previous year ended 31 March 2012 have been prepared as per Revised Schedule VI.

3.In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balancesheet unless otherwise stated.

4.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

5.Key Management Personnel:

Mr. Anush K. Thomas, Managing Director and Mr. Thomas Koshy, Chief Executive Officer.

6. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205C of the Companies Act. 1956, as at the end of the year.

7. Cash Flow Statement is prepared under indirect method.

8. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

9. Allotment money of Rs. 1. 11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period. ,

10. Quarterly financial results are published in accordance with the listing agreements.

---

Mar 31, 2012

Export packing credit limit ofRs. 3 Crores secured byfirst charge on all the goods to be exported and the whole ofthe company's stock ofmarine products and charge by way of hypothecation on land, building, machineries and equipments, and also ** personal guarantee of Mr. K CBabu. Repayable on demand

FDBP discounted as on 31.3.2012 has been secured against document of title to goods, evidencing export against LC and by way of hypothecation on land, building, machineries and equipments, and also personal guarantee of Mr. K C Babu. ** Repayable on demand.

Note 1: Segment reporting

The company has only one segment. The company's opeartion predominently related to processing and exporting of marine products and has disclosed exports as its primary segment. Since the income on account of other activities are only incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue receipts as per AS 17 as prescribed under companies (Accounting Standards) Rules, 2006 separate segment reporting is not applicable. Local turnover is not significant in total turnover. Segment has been identified in time with AS 17 on Segment Reporting.Operation of the company is at present only in India within a single geographical segment.

Note 2: Previous year figures

The financial statements for the previous year ended March 31,2011 had been prepared as per the then applicable, Schedule VI to the Companies Act, 1956. Consequent to the noification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the current year ended March 31, 2012 have been prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this years classification. The adoption of revised schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements._

Note: 3 Related Parties Disclosure

Relationship

1 Baby Marine Eastern Exports

2 Narayanan & Co.

3 Ramanath & Co.

4 M/s.Tharian & Iype

5 Pranavam Arts

6 Thomsun Eletronics

7 Thomsun Supermarket

8 Esat Fish Private Limited

9 Laxmi Agencies

10 SAM property developers and Hotels (p) Ltd Note: Related party relationship is as identified by the company and relied upon by the auditors. Transaction with related parties:- Ramanath & Co. Commission on Exports Rs. 175275_

4.In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realisable value of at least the amounts at which they are stated in the Balancesheet unless otherwise stated.

5.Balances of Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the company for the year.

6. Sale of DEPB Licence is accounted on Realization Basis.

Directors are not claiming any commission and hence calculation of net profit under section 349 of the Companies Act, 1956 for computation of eligible commission to Directors are not given.

7. No amount is due for transfer to Investor Education and Protection Fund in accordance with sec.205C of the Companies Act, 1956, as at the end of the year.

8. Cash Flow Statement is prepared under indirect method.

9. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognized as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

10. Allotment money of Rs. 1,11,500 recoverable from 22,300 partly paid share holders remains outstanding for long period.

11. Quarterly financial results are published in accordance with the listing agreements.

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Mar 31, 2010

1. Contingent Liabilities not provided for Current Year Previous Year

a) Foreign documentary Bills Discounted Rs.2,49,26,725/- Rs.2,60,14,9007-

b) Bank Guarantee given by the Company in Favour of Special Tahsildar: Rs.1,27,765/- Rs.1,27,765/-

c) Bank Guarantee given in favour of KSEB Rs.8,64,970/- Rs.8,64,970/-



2. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.205Cof the Companies Act, 1956, as at the end of the Year.

3. Cash Flow Statement is prepared under indirect method.

4. Contingencies and events occurring after the balance sheet date -NIL.

5. Borrowing Cost: Interest and other cost in connection with the borrowing of funds by the company are recognised as an expense in the period in which they are incurred unless the qualifying assets for its intended use are in progress.

6. Allotment money of Rs.1,11,500 recoverable from share holders remains outstanding for long period

7. Quarterly financial results are published in accordance with the listing agreements.

8. Previous years figures have been regrouped wherever found necessary.