Notes to Accounts of Zenlabs Ethica Ltd.

Mar 31, 2024

i) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation.

Provisions are measured at management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting
period. 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.

j) Contingent liabilities

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 not wholly within the control of the Company or a present obligation th at is not recognised because it is not probable
that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be
measured with sufficient reliability. Information on contingent liabilities is disclosed in the notes to the financial statements, unless the possibility
of an outflow of resources embodying economic benefits is remote.

k) Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company, and the revenue can be reliably
measured regardless of when the payment is being made. Revenue excludes goods and service tax which are collected by the Company on behalf of
the Government and deposited to the credit of respective Governments.

Sale of goods

Revenue from the sale of goods is recognized as revenue on the basis of customer contracts and the performance obligations contained therein. Revenue
is recognised at a point in time when the control of goods or services is transferred to a customer. Control lies with the customer if the customer can
independently determine the use of and consume the benefit derived from a product or service. Revenues from product deliveries are recognised
at a point in time based on an overall assessment of the existence of a right to payment, the allocation of ownership rights, the transfer of
significant risks and rewards and acceptance by the customer. Revenue from sales is based on the price in the sales contracts, net of Goods
and Services Tax (GST). When a performance obligation is satisfied, Revenue is recognised with the amount of the transaction price that is
allocated to that performance obligation. Historical experience, specific contractual terms and future expectations of sales returns are used to
estimate and provide for damage or expiry claims. No element of financing is deemed present as the sales are made with the normal credit
terms as per prevalent trade practice and credit policy followed by the Company.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of
income can be measured reliably. Interest income is accrued on, time basis, by reference to the principal outstanding and at the effective
interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to
that asset''s net carrying amount on initial recognition.

Export Incentives

Export incentives under various schemes notified by the Government are recognised as and when the right to receive is established.

Other non-operative income

Other non-operative income is recognised when no significant uncertainty as to its determination or realisation exists.

Contract assets: A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company
performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized
for the earned consideration that is conditional.

Trade receivables: A receivable represents the Company''s right to an amount of consideration that is unconditional (i.e., onl y the passage of time is required
before payment of the consideration is due).

Contract liabilities: A contract liability is the obligation to transfer goods or services to a customer for which the Company has received
consideration from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract
liability is recognized when the payment is received.

l) Borrowing costs

Borrowing costs are interest and other costs incurred in connection with the borrowing of funds. Borrowing costs (for general and specific
borrowings) directly attributable to acquisition or construction of an asset which necessarily take a substantial period of time (qualifying assets) to
get ready for their intended use are capitalised as part of the cost of that asset. Other borrowing costs are recognised as an expense in the period
in which they are incurred.

m) Income tax

Income tax expense comprises current and deferred tax. It is recognised in statement of profit and loss, except to the extent that it relates to items
recognised directly in equity or in other comprehensive income.

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable
or receivable in respect of previous years. The amount of current tax reflects the best estimate of the tax amount expected to be paid or received
after considering the uncertainty, if any, related to income taxes. It is measured using tax rates (and tax laws) enacted or substantively enacted
by the reporting date.

Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the recognised amounts, and it is
intended to realise the asset and settle the liability on a net basis or simultaneously.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the
corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences.
Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will
be available against which those deductible temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable
that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the
asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects,
at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they are related to income
taxes levied by the same tax authority.

Current and deferred tax are recognised in the Statement of profit and loss, except when they relate to items that are recognised in other comprehensive
income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity
respectively.

n) Lease

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration.

The Company as a lessee
Right of use assets and lease liabilities

For any new contracts entered into on or after 1^st April, 2019, the Company considers whether a contract is, or contains a lease. A lease is
defined as ''a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration''.
The Company enters into leasing arrangements for various assets. To assess whether a contract conveys the right to control the use of an
identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company obtains substantially
all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the
asset.

Recognition and initial measurement

At lease commencement date, the Company recognizes a right-of-use asset and a lease liability on the balance sheet. The right-of-use asset is measured
at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the Company, an estimate of
any costs to dismantle and remove the asset at the end of the lease (if any), and any lease payments made in advance of the lease commencement date
(net of any incentives received).

Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and lease
liabilities includes these options when it is reasonably certain that they will be exercised.

Subsequent measurement

The Company depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the
useful life of the right-of-use asset or the end of the lease term. The Company also assesses the right-of-use asset for impairment when such
indicators exist.

At lease commencement date, the Company measures the lease liability at the present value of the lease payments unpaid at that date,
discounted using the interest rate implicit in the lease if that rate is readily available or the Company''s incremental borrowing rate. Lease
payments included in the measurement of the lease liability are made up of fixed payments (including in substance fixed payments) and
variable payments based on an index or rate. Subsequent to initial measurement, the liability will be reduced for payments made and increased
for interest. It is re-measured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the
lease liability is re-measured, the corresponding adjustment is reflected in the right-of-use asset.

The Company has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognizing a
right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in standalone statement of profit and loss on
a straight-line basis over the lease term.

Where the Company is the lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases.
Rental income from operating lease is recognized on a straight-line basis or another systematic basis as per the terms of the relevant lease. Initial
direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over
the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Company to the lessee.
Amounts due from lessees under finance leases are recorded as receivables at the Company''s net investment in the leases. Finance lease income
is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

n) Earnings per share

The Company presents basic and diluted earnings per share (EPS) data for its equity shares. Basic EPS is calculated by dividing the profit or loss attributable
to equity shareholders of the Company by the weighted average number of equity shares outstanding during the period.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the parent (after adjusting for interest on the convertible
preference shares) by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity
shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

o) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or
before the end of the reporting period but not distributed at the end of the reporting period.

p) Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. Managing
Director and Chief Financial Officer of the Company are the chief operating decision makers.

q) Foreign currency transactions and translations

Foreign currency transactions are recorded in the functional currency, by applying the exchange rate between the functional currency and the
foreign currency at the date of the transaction.

Foreign currency monetary items outstanding at the balance sheet date are converted to functional currency using the closing rate. Non-monetary
items denominated in a foreign currency which are carried at historical cost are reported using the exchange rate at the date of the transactions.

Exchange differences arising on monetary items on settlement, or restatement as at reporting date, at rates different from those at which they were
initially recorded, are recognized in the Standalone Statement of Profit and Loss in the year in which they arise.

r) Policies not specifically mentioned are consistent with generally accepted accounting principles.

s) Exceptional Items

Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the
financial performance of the Company. These are material items of income or expense that have to be shown separately due to the significance of
their nature or amount.

t) Exceptional Items

Ministry of Corporate Affairs (“MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting
Standards) Rules as issued from time to time. For the year ended 31^st March, 2024, MCA has not notified any new standards or amendments to
the existing standards applicable to the Company.

Note

0 The actuarial valuation of the present valuation of defined benefit obligation were carried out as at 31^st March, 2024. The present value of
defined benefit obligation and the related current service cost, were measured using the projected unit credit method.

ii) Discount rate is based on the prevailing market yields of Indian Government Securities as at the balance sheet date for the estimated term of
obligation.

iii) The salary escalation rate is arrived after taking into consideration the seniority, the promotion and other relevant factors, such, as, demand
and supply in employment market.

Description of Risk Exposures:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is exposed to various risks as

follow

A. Salary Increases- Actual salary increases will increase the Plan''s liability. Increase in salary increase rate assumption in future valuations
will also increase the liability.

B. Investment Risk - If Plan is funded then assets liabilities mismatch and actual investment return on assets lower than the discount rate
assumed at the last valuation date can impact the liability.

C. Discount Rate: Reduction in discount rate in subsequent valuations can increase the plan''s liability.

D. Mortality & disability - Actual deaths and disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to the equity
shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern
and to maintain an optimal capital structure so as to maximize shareholder value.

Management assesses the Company''s capital requirements in order to maintain an efficient overall financing structure while avoiding excessive
leverage. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets.

To maintain or adjust the capital structure, the Company may return capital to shareholders, raise new debt or issue new shares.

The Company monitors capital on the basis of the debt to capital ratio, which is calculated as interest-bearing debts divided by total capital (equity attributable
to owners of the parent plus interest-bearing debts).

In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached
to the interest-bearing loans and borrowings that define capital structure requirements.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31^st March, 2024 and 31^st March, 2023.

Loan covenants

Under the terms of the major borrowing facilities, the Company is required to comply with certain financial covenants which include Debt Service
Coverage Ratio (DSCR), Fixed Asset Coverage Ratio (FACR) etc. The Company has complied with these covenants throughout the reporting period.

Note 41 Financial instruments - Fair values and risk management ? in Lakhs

A. Financial instruments - by category and fair values hierarchy

The following table shows the carrying amounts and fair value of financial assets and financial liabilities, including their levels in the fair value
hierarchy.

The Company''s financial risk management is an integral part of how to plan and execute its business strategies. The Company has exposure to the
following risks arising from financial instruments:

- Credit risk;

- Liquidity risk; and

- Market risk

Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The
Company has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults.
The Company''s exposure and wherever appropriate, the credit ratings of its counterparties are continuously monitored and spread amongst
various counterparties. Credit exposure is controlled by counterparty limits that are reviewed and approved by the management of the
Company. Financial instruments that are subject to concentrations of credit risk, principally consist of balance with banks, investments in debt
instruments/ bonds, trade receivables, loans and advances and derivative financial instruments. None of the financial instruments of the
Company result in material concentrations of credit risks.

Balances with banks were not past due or impaired as at the year end. In other financial assets that are not past dues and not impaired, there
were no indication of default in repayment as at the year end.

Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are
settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as p ossible, that it will
have sufficient liquidity to meet its liabilities when they are fallen due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Company''s reputation.

The Company believes that its liquidity position, including total cash and cash equivalent and bank balances other than cash and cash
equivalent of ^ 90.50 Lakhs as at 31^st March 2024 (Previous Year ^ 162.81 Lakhs), and anticipated future internally generated funds from
operations will enable it to meet its future known obligations in the ordinary course of business. However, if a liquidity needs were to arise, the
Company believes it has access to financing arrangements, value of unencumbered assets, which should enable it to meet its ongoing capital,
operating, and other liquidity requirements. The Company will continue to consider various borrowing or leasing options to maximize liquidity
and supplement cash requirements as necessary.

The table below provides amortized value of (discounted) cash flows towards non-derivative financial liabilities into relevant maturity based on
the remaining period at the balance sheet to the contractual maturity date.

Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial instrument.
These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that
affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments includi ng investments and deposits,
foreign currency receivables, payables and loans and borrowings.

The Company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk factors
with the object of governing/ mitigating them according to Company''s objectives and declared policies in specific context of impact thereof on
various segments of financial instruments (Fixed deposits). The Board provides oversight and reviews the Risk management policy on a
quarterly basis.

a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
interest rates. In order to balance the Company''s position with regards to interest income and interest expense and to manage the interest
rate risk, treasury performs a comprehensive interest rate risk management.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

b) Foreign currency risk management

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign e xchange 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.

Note 44 Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker ("CODM") of the
Company. Managing Director and Chief Financial Officer of the Company are the chief operating decision makers. The Company op erates in a solitary
business segment i.e., ''pharmaceuticals formulations only'', which primarily includes marketing and distribution of pharmaceutical products, hence
does not have any reportable Segments as per Indian Accounting Standard 108 “Operating Segments".

Note 45 disclosure as per Ind AS 8 - ''Accounting Policies, Changes in Accounting Estimates and Errors''

Certain reclassifications have been made to the comparative period''s financial statements to enhance comparability with the current year''s financial
statements.

Note 46 Disclosures regarding leases as per Ind As 116 ''Leases''

Assets taken on operating lease

The Company has leases for office building, warehouses and related facilities. With the exception of short-term leases and leases of low-value
underlying assets, each lease is reflected on the balance sheet as a right-of-use asset and a lease liability. Variable lease payments which do not
depend on an index or a rate are excluded from the initial measurement of the lease liability and right of use assets. The Company classifies its right-
of-use assets in a consistent manner to its property, plant and equipment.

Certain changes/ updates have been made in the policies and notes to accounts for improved disclosures. There is no impact on the financial
statements due to these changes, however, the policy numbers have been rearranged in the current year as required.

Note 51 Disclosure as per Ind AS 36 ‘Impairment of Assets''

The Company has reviewed the carrying amount of its tangible and intangible assets (being a cash generating unit) with its future present value of
cash flows and there has been no indication of impairment of the carrying amount of the Company''s such Assets taking consideration into external
and internal sources of information.

Note 52 Event occurring after reporting date

No adjusting or significant non-adjusting events have occurred between 31^st March, 2024 and the date of authorisation of the Company''s financial
statements.

a) The Company doesn''t have any immovable property and investment property.

b) As per the Company''s accounting policy, Property, Plant and Equipment (including Right of Use Assets) are carried at historical cost (less
accumulated depreciation and impairment, if any), hence the revaluation related disclosures required as per Additional Regulatory Information of
Schedule III (revised) to the Companies Act, is not applicable.

^c) The Company has not granted Loans or Advances in the nature of loan to any promoters, Directors, KMPs and the related parties (As per
Companies Act, 2013), which are repayable on demand or without specifying any terms or period of repayments.

^d) No proceedings have been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition)
Act, 1988 (45 of 1988) and the rules made thereunder.

^e) The Company has sanctioned facilities from banks on the basis of security of current assets [against stock and book debts (in previous year,
against fixed deposit receipt)]. As such there is no requirement of periodic returns to be filed by the Company with such banks.

f) The Company has not been declared as Willful defaulter by bank or financial institution so related disclosures required as per Additional
Regulatory Information of Schedule III (revised) to the Companies Act, is not applicable.

g) There are no transactions with the Companies whose name are struck off under Section 248 of The Companies Act, 2013 or Section 560 of the
Companies Act, 1956 during the year ended 31^st March, 2024.

h) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have been filed. No registration
or satisfaction is pending at the year ended 31^st March, 2024.

i) The number of layers prescribed under clause (87) of Section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers)
Rules, 2017, is not applicable.

j) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act, 2013.

k) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

i) 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

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiary

l) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding
(whether recorded in writing or otherwise) that the Company shall:

i) 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

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiary

m) The Company has not operated in any crypto currency or Virtual Currency transactions.

ⁿ⁾ During the year the Company has not disclosed or surrendered, any income other than the income recoginsed in the books of accounts in the tax
assessments under Income Tax Act, 1961.

Note 55

The figures of the financial statements are represented as ^ in lakhs upto two decimal places leaving the scope of rounding up variations.

The figures of the previous year have been re-grouped / re-classified to render them comparable with the figures of the current year.

In terms of our report attached

for N Kumar Chhabra and Co. for and on behalf of the Board of Directors

Chartered Accountants

ICAI Firm Registration Number 00837N

CA. Ashish Chhabra

FCA, Partner Sanjeev Kumar Sanjay Dhir Akshay Saxena Adarsh Sharma

Membership Number 507083 Managing Director cum Whole Time Company Secretary Chief Financial Officer

Place : Chandigarh Chief Executive Officer Director Membership Number A52388 PAN: AMYPS7789J

Date : 20th May, 2024 DIN: 01154896 DIN: 02452461

UDIN: 24507083BKBLWN2597 Place : Chandigarh

Date : 20th May, 2024

---

Mar 31, 2018

Note 11 - Equity Share Capital (a)

(Amount in Rs.)

Details of Shareholders holding more than 5% of (b) the aggregate shares in the company

Name of the shareholder	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
	Equity	Equity	Equity
Preet remedies Private Limited	1,908,075	1,612,650	1,612,650
% age of Holding	30.78%	26.01%	26.01%
Sanjeev Kumar	646,626	731,626	731,626
% age of Holding	10.43%	11.80%	11.80%
Satish Kumar	342,378	387,378	387,378
% age of Holding	5.52%	6.25%	6.25%
Harpreet Singh Kalra	646,626	731,626	731,626
% age of Holding	10.43%	11.80%	11.80%
Sanjay Dhir	646,884	731,884	731,884
% age of Holding	10.43%	11.80%	11.80%

(c) Reconciliation of the shares outstanding at the beginning and at the end of the reporting period

Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Equity Shares Shares outstanding at the beginning of the year	6,200,014	6,200,014	6,200,014
Shares issued during the year Shares outstanding at the end of the year	6,200,014	6,200,014	6,200,014

Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Authorised
7000000 (P.Y 4000000) Equity Shares of Rs. 10/- each	70,000,000	70,000,000	70,000,000
Issued, Subscribed and Paid up
6200014 (PY 6200014) Equity Shares of Rs.10/- each fully paid up	62,000,140	62,000,140	62,000,140
TOTAL	62,000,140	62,000,140	62,000,140

Note: The said loans are secured against the vehicles of the company. Vehicles and loans are standing on the name of Zenlabs India [merged firm).

Note 13 - Borrowings	(Amount in Rs.)
Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Secured Loans
Vehicle Loan- HDFC Bank	-	126,606	601,349
Vehicle Loan- HDFC Bank	-	360,700	856,715
Vehicle Loan- Kotak Mahindra Sank	3,529,058	5,333,801	7,068,357
TOTAL	3,529,058	5,821,107	8,526,421

Note 14 - Long-Term Provisions	(Amount in Rs.)
Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Provision for gratuity	1,768,046	1,607,374	1,224,994
TOTAL	1,768,046	1,607,374	1,224,994

Note 12 - Other Equity
(Amount in Rs.)
	Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
A	Reserves & Surplus
(i)	Profit & Loss Account
	As per last Balance Sheet	(4,075,985)	(14,120,436)	(16,531,312)
	Add/(Less): profit/floss) for the period	11,637,813	9,516,451	1,702,382
	Add: Profit/(Loss) from takeover of business of Zenlabs India			775,297
	Less: Dividend declared and paid F.Y 2017-18	(1,859,094)		(66,803)
	MAT Credit recognised	2,327,190
	Less: Provision of I.Tax F.Y. 2015-16	108,746	528,000	-
		8,138,671	(4,075,985)	(14,120,436)
(ii)	Capital Reserve
	TOTAL	8,138,671	(4,075,985)	(14,120,436)

Note 15 - Short Term Borrowing

(Amount in Rs.)

Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Bank Overdraft	2,704,360	1,226,126	-
TOTAL	2,704,360	1,226,126	_
Note 16 - Trade Payables
			(Amount in Rs.)
Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Sundry creditors	197,044,592	244,472,759	218,579,660
TOTAL	197,044,592	244,472,759	218,579,660
Note 17- Other Current Liabilities
			(Amount in Rs.)
Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Current Maturities of Long Term Debt	2,306,372	2,634,230	2,395,767
Expenses Payable			94,050
Audit fee payable	122,720	105,000
Professional Charges Payable	-	217,596
Duties, taxes and other statutory dues payable	2,226,199	2,218,493	1,620,554
Expenses payable	7,807,616	6,952,924	5,959,092
Cheques issued but not presented for payment	-	-	15,832,878
Advance from Customers	10,377,000	10,377,000	~
Total	22,839,906	22,505,243	25,902,341
Note 18 - Short-Term Provisions
			(Amount in Rs.)
Particulars	As at March 31, 2018	As at March 31, 2017	As at March 31, 2016
Provision for Income Tax	-	-	1,466,740
Provision for Gratuity	208,165	171,835	137,115
TOTAL	208,165	171,835	1,603,855

Note 19 - Revenue from Operations	(Amount in Rs.)
Particulars	Year ended March 31,2018	Year ended March 31,2017
(a) Sale of Products	718,384,397	811,591,060
GRAND TOTAL	718,384,397	811,591,060

Note 20 - Other Income	(Amount in Rs.)
Particulars	Year ended March 31,2018	Year ended March 31,2017
Duty Drawback	28,437	32,649
Insurance Claim A/c	81,066
Interest Income FDR	832,400	752,759
Interest on It Refund	17,690
GRAND TOTAL	959,593	785,408

Note 21 - Purchases of Stock-in-Trade	(Amount in Rs.)
Particulars	Current Reporting Period	Previous Reporting Period
Purchase of Pharmaceutical products	527,874,091	633,838,438
TOTAL	527,874,091	633,838,438

Note 22 - Changes in Inventories	(Amount in Rs.)
Particulars	Current Reporting Period	Previous Reporting Period
(a) At the end of the period
Stock-in-Trade	18,416,288.00	61,686,388.00
	18,416,288.00	61,686,388.00
(a) At the beginning of the period
Stock-in-Trade	61,686,388.00	82,036,902.00
	61,686,388.00	82,036,902.00
TOTAL	43,270,100.00	20,350,514.00

Note 24 - Finance Cost	(Amount in Rs.)
Particulars	Current Reporting Period	Previous Reporting Period
Bank Interest	877,836	1,003,487
Bank Charges	29,832	9,648
TOTAL	907,668	1,013,135

Note 25 - Other Expenses	(Amount in Rs.)
Particulars	Current Reporting Period	Previous Reporting Period
Advertisement Expenses	8,648,875	25,107,342
Auditor Remuneration	-	115,000
Award Nomination Fees		-
Bad Debt	2,059,893
Boarding and Lodging Expenses	1,000,269	497,211
Business Promotion Expenses	4,711,532	4,793,423
Carriage Inward and Outward	20,017,329	20,758,788
Cash discount	3,187,300	6,987,327
Commission expenses	684,494	5,678,861
Travelling and conveyance expenses	102,310	138,587
Donation and charity	-
Electricity and water expenses	239,884	294,341
Meeting/ Conference Expenses	416,751	-
Fees and Taxes	915,025	759,232

Note 23 - Employees Benefits Expenses	(Amount in Rs.)
Particulars	Current Reporting Period	Previous Reporting Period
(i) Salaries and wages	26,794,472	29,171,131
(ii) Employer contribution to ESI	182,609	140,543
(ii) Employer contribution to PF	368,842	347,186
(iv) Staff welfare expenses	461,117	460,397
(v) Gratuity expenses	197,002	417,100
TOTAL	28,004,042	30,536,357
Insurance expenses	1,469,077	849,807
C&F Charges	932,205	-
Loading and unloading expenses	659,318	624,756
Office expenses	376,754	198,528
Director Remuneration	6,900,000	3,000,000
Courier and postage	166,006	236,321
Printing and stationary	194,898	295,306
Professional charges	1,251,361	1,279,004
Rebate and discount	16,495,780	16,643,143
Rent expenses	6,142,106	5,200,570
Repair and maintenance expenses	951,649	405,892
Security expenses	1,349,240	1,467,920
Service tax expenses	249,508	687,486
Software renewal expenses	21,200	51,481
Telephone expenses	301,969	205,634
Tour and travel expenses	20,657,412	15,670,260
Festival Expenses	414,335	-
Miscellaneous expenses	207,864	371,987
TOTAL	100,724,345	112,318,207

Note 26 - Earning Per Equity Share
	Particulars	Current Reporting Period	Previous Reporting Period
(a)	Net profit after tax but before Deferred Tax attributable to equity shareholders for Basic EPS	372,975	663,975
	Add/Less: Adjustment relating to potential equity shares
	Net profit after tax but before Deferred Tax attributable to equity shareholders for Diluted EPS	372,975	663,975
(b)	Weighted average no. of equity shares outstanding during the year
	For Basic EPS	6,200,014	3,617,500
	For Diluted EPS	6,200,014	3,617,500
(c)	Basic EPS	0.06	(0.18)
	Diluted EPS	0.06	(0.18)
	Face Value per Equity Share (Rs.)	10	10
(d)	Reconciliation between no. of shares used for calculating basic and diluted EPS
	No. of shares used for calculating Basic EPS	6,200,014	3,617,500
	Add: Potential equity shares	-	-
	No. of shares used for calculating Diluted EPS	6,200,014	3,617,500

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Mar 31, 2014

1. Contingent Liabilities against the company - The company has won the case against the sale tax authorities and the bank guarantees issued by the company have been duly released by the authorities during the current financial year.

2. Earnings /Expenditure in Foreign Currency - During the year the company did not have any earnings / expenditure in foreign exchange.

3. Balances in sundry creditors,debtors, loans and advances are subject to confirmation and reconciliation if any.

4. In the Opinion of the Board of Directors , The Current Assets, Loans & Advances are approximately of the value stated if realised in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.

5. Figures have been regrouped/ rearranged wherever necessary to make them comparable with the figure of previous year

6. In compliance with AS-22 , Accounting for taxes on Income issued by The Institute of Chartered Accountants of India, a sum of Rs 20707.00 being Deferred Tax Asset has not been recognised in view of accumulated losses and uncertainity of future income.

Contingent Liabilities and Commitments (to the extent not provided for)

(Amount in Rs.)

Particulars Current Previous Reporting Period Reporting Period (a) Contingent Liabilities

Guarantees - 390,605.87

TOTAL - 390,605.87

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Mar 31, 2013

A. Contingent Liabilities against the company - The Company is contesting the case against the sale tax authorities against the unjustified penalty imposed by The ETO, ICC, Jharmari, Mohali. Pending the settlement of this case, the company has deposited the penalty under protest by the execution of bank guarantee of Rs 3,28,760/-.

B. Earnings /Expenditure in Foreign Currency - During the year the company did not have any earnings / expenditure in foreign exchange

C. Balances in sundry creditors, debtors, loans and advances are subject to confirmation and reconciliation if any.

D. In the Opinion of the Board of Directors , The Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.

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Mar 31, 2010

A. Contingent Liabilities against the company - Nil

B. Earnings /Expenditure in Foreign Currency - During the year the company has made export sales of Rs 4,35,310

This amount has been duly received . No expendture in foreign currency has been incurred.

C. Balances in sundry creditors. debtors, loans and advances are subject to confirmation and reconciliation if any

D. In the Opinion of the Board of Directors , The Current Assets. Loans & Advances are approximately of the value stated if realised in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.

E. Other Additional information persuant to the provisions of paragraph 3,4C and 4D of Part II Schedule VI of the companies Act, 1956 to the extent not applicable are not given

a) Key Management Personnel - Mr Sanjeev Singal, Mr Satish Singhal. Mr Harpreet Singh Kalra

b) Relative of Director - Nil

c) Enterprises over which KMP exercise influence - Preet Remedies Private Limited , Quixotic Healthcare Ultrachiron Healthcare (Pvt.) Ltd.

F. Figue have been regrouped/ rearranged wherever necessary to make them comparable with the figure of previous year.

G. In compliance with AS-22 , Accounting for taxes on Income issued by The Institute of Chartered Accountants of India, a sum of Rs 21804 has been recognised as Deferred Tax Liability in respect of timing difference for the year ended 31.03.2010