2.22 Provisions, Contingent Liabilities and
Contingent Assets
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. Provision for contractual obligation is
disclosed based on management's assessment of
the probable outcome with reference to the available
information supplemented by experience of similar
transactions. When the Company expects some or all
of a provision to be reimbursed, the reimbursement
is recognised as a separate asset, but only when
the reimbursement is virtually certain. The expense
relating to a provision is presented in the statement
of profit and loss net of any reimbursement.
Provision in respect of loss contingencies relating
to claims, litigation, assessment, fines, penalties
etc. are recognised when it is probable that a
liability has been incurred and the amount can be
estimated reliably.
Provisions are not recognised for future operating
losses.
Where there are a number of similar obligations,
the likelihood that an outflow will be required in
settlement is determined by considering the class
of obligations as a whole. A provision is recognised
even if the likelihood of an outflow with respect
to any one item included in the same class of
obligations may be small.
Provisions are measured at management's best
estimate of the expenditure required to settle
the present obligation at the end of the reporting
period and are not discounted to present value.
The estimates of outcome and financial effect are
determined by the judgment of the management,
supplemented by experience of similar transactions
and, in some cases, reports from independent
experts.
The measurement of provision for restructuring
includes only direct expenditures arising from the
restructuring, which are both necessarily entailed
by the restructuring and not associated with the
ongoing activities of the Company.
Contingent liability is disclosed in the case of:
1. A present obligation arising from the past
events, when it is not probable that an outflow
of resources will be required to settle the
obligation;
2. A present obligation arising from the past
events, when no reliable estimate is possible;
3. A possible obligation arising from the past
events, unless the probability of outflow of
resources is remote.
Contingent liabilities are not provided for and if
material, are disclosed by way of notes to financial
statements.
A contingent asset is a possible asset that arises
from past events and whose existence will
be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events
not wholly within the control of the entity.
Contingent assets are not recognised in financial
statements since this may result in the recognition
of income that may never be realised. However,
Contingent assets are assessed continually and
if it is virtually certain that an inflow of economic
benefits will arise, the asset and related income
are recognised in the period in which the change
occurs.
A contingent asset is disclosed by way of notes to
financial statements, where an inflow of economic
benefits is probable.
Provisions, contingent liabilities and contingent
assets are reviewed at each balance sheet date.
2.23 Segment Reporting
An operating segment is component of the
company that engages in the business activity
from which the company earns revenues and incurs
expenses, for which discrete financial information
is available and whose operating results are
regularly reviewed by the chief operating decision
maker, in deciding about resources to be allocated
to the segment and assess its performance.
The Company primarily operates in the segment
of Industrial Micronized Minerals and Speciality
chemicals. The Managing Director of the Company
allocate resources and assess the performance of
the Company, thus they are the Chief Operating
Decision Maker (CODM). The CODM monitors the
operating results of the business as a one, hence
no separate segment need to be disclosed.
2.24 Cash Equivalents
Cash and cash equivalents comprise cash and
deposits with banks and corporations. The
Company considers all highly liquid investments
with original maturities of three months or less and
that are readily convertible to known amounts of
cash to be cash equivalents.
For the purpose of presentation in the statement
of cash flows, cash and cash equivalents includes
cash on hand, deposits held at call with financial
institutions and other short term, highly liquid
investments with original maturities of three
months or less that are readily convertible to
known amounts of cash and which are subject to
an insignificant risk of changes in value.
2.25 Statement of Cash Flows
Cash flows are reported using the indirect method,
whereby 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.
2.26 Dividends
The Company recognises a liability for dividends to
equity holders of the Company when the dividend
is authorised and the dividend is no longer at the
discretion of the Company. As per the corporate
laws in India, a Final dividend is authorised when
it is approved by the shareholders and Interim
Dividend is authorised when it is approved by the
Board of Directors. A corresponding amount is
recognised directly in equity.
2.27 Insurance Claims
The company accounts for insurance claims when
there is certainty that the claims are realizable and
acknowledged by insurance company and amount
recognized in books of accounts is as under:
• I n case of loss of asset /goods by transferring,
either the carrying cost of the relevant
asset / goods or insurance value (subject to
deductibles), whichever is lower under the
head “Claims Recoverable-Insurance”.
• I n case insurance claim is, less than carrying
cost the difference is charged to Profit and
Loss statement. As and when claims are finally
received from insurer, the difference, if any,
between Claims Recoverable-Insurance and
claims received is adjusted to Profit and Loss
statement.
2.28 Research and Development
Expenditure on research is recognized as an
expense when it is incurred. Expenditure on
development which does not meet the criteria for
recognition as an intangible asset is recognized as
an expense when it is incurred.
Items of property, plant and equipment and
acquired Intangible Assets utilized for Research
and Development are capitalized and depreciated
in accordance with the policies stated for Property,
Plant and Equipment and Intangible Assets.
2.29 Events occurring after the Reporting Date
Adjusting events (that provides evidence of
condition that existed at the balance sheet
date) occurring after the balance sheet date are
recognized in the financial statements. Material
non-adjusting events (that are inductive of
conditions that arose subsequent to the balance
sheet date) occurring after the balance sheet date
that represents material change and commitment
affecting the financial position are disclosed in the
Directors' Report.
2.30 Exceptional Items
Certain occasions, the size, type or incidence of
an item of income or expense, pertaining to the
ordinary activities of the Company is such that
its disclosure improves the understanding of the
performance of the Company, such income or
expense is classified as an exceptional item and
accordingly, disclosed in the notes accompanying
to the financial statements.
2.31 Rounding off
All amounts disclosed in the financial statements
and notes have been rounded off to the nearest
Lakhs as per the requirements of Schedule III,
unless otherwise stated.
2.32 Recent Accounting Pronouncements:
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.
• In May 2025, MCA notified amendments to
Ind AS 21 - The Effects of Changes in Foreign
Exchange Rates, applicable w.e.f. April 1, 2025.
The Company has reviewed the amendment
and based on its evaluation has determined
that it does not have any significant impact in
its financial statements.
In August 2025, MCA notified the following
amendments to:
• I nd AS 1, Presentation of Financial Statements,
applicable w.e.f. April 1, 2025 - The amendment
relates to classification of liabilities as current
or non-current and non-current liabilities with
covenants. In the context of classifying a
liability as current, it removes the requirement
of existence of a right to defer settlement for
at least 12 months after the reporting date and
instead requires that the said right should exist
on the reporting date and have substance.
The amendment also introduces guidance on
classification of liabilities with covenants. The
Company has no impact of these amendments
in its classification criteria of current and non¬
current liabilities.
• Ind AS 7, Statement of Cash Flows and Ind
AS 107, Financial Instruments: Disclosures,
applicable w.e.f. April 1, 2025 - The amendment
in Ind AS 7 requires to inform users of financial
statements of the existence of supplier finance
arrangements and explain the nature of the
arrangements, the carrying amount of liabilities
and the range of payment due dates. Ind AS
107 has been amended to add supplier finance
arrangements as a factor that may cause
concentration of liquidity risk. The Company
has reviewed the amendment and based on
its evaluation has determined that it does
not have any significant impact in its financial
statements.
• Ind AS 12, International Tax Reform - Pillar
Two Model Rules applicable immediately - The
amendments provide a temporary mandatory
relief from deferred tax accounting for top-
up tax and disclose that they have applied
the relief. The Company has reviewed the
amendment and based on its evaluation has
determined that it does not have any significant
impact in its financial statements.
Note 18.3 Terms/ rights attached to equity shares
i) The Company has only one class of shares referred to as equity shares having a par value of Rs. 5 each.
ii) Each holder of equity shares is entitled to one vote per share which can be exercised either personally or by an attorney or by
proxy.
iii) The dividend proposed if any by the Board of Directors is subject to approval of the shareholders in the ensuing general meeting
except in the case of interim dividend.
iv) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive assets of the Company, after
distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the
shareholders.
Nature and purpose of reserves :
(a) General reserve
The general reserve is used from time to time to transfer profits from retained earnings for appropriation purpose. As the
general reserve is created by transfer from one component of equity to another and is not an item of other comprehensive
income, items included in the general reserve will not be reclassified subsequently to profit and loss.
(b) Securities Premium Account
Securities premium account represent the premium received at the time of issue of equity share capital.
(c) Retained Earnings
Retained earnings represents surplus / accumulated earnings of the company available for distribution to shareholders.
(d) Equity instrument through OCI
The Company has elected to recognise changes in the fair value of certain investments in equity securities in other
comprehensive income. These changes are accumulated within the Equity instrument through OCI reserve within equity
Amount disclosed under the head Short term borrowings Refer Note 24
The Company does not have any continuing defaults in repayment of loans and interest as at the reporting date.
20.1 Utilisation of borrowed funds
The company has used the borrowings from banks for the specific purpose for which it was taken. The company has not
taken any borrowings from financial institution.
20.2 Drawing Power statement in agreement with books
Quarterly returns or statements of current assets filed by the Company with banks are not having material difference with the
books of accounts. The company do not have any borrowing from financial institutions
20.3 Willful Defaulter
The company is not declared as willful defaulter by any bank or financial institution or other lender.
20.4 Hypothecation
The Company's outstanding term loans are secured by hypothecation of the entire Property Plant & Equipment, including
plant and machinery, acquired out of the proceeds of such term loans.
Note 24.3 Details of Securities
First pari-passu charge by way of hypothecation of:
1) First pari-passu charge by way of mortgage / hypothecation over :
(i) Plot No. 157 Mamura, Bhuj (admeasuring 15,200.00 sq.mtrs. )
(ii) Plot no. 253-254 (area 3000 sq.mtrs.) GIDC, Waghodia.
(iii) Plot No. 172,174 & 175, Vadadala, Baroda (admeasuring 02.99.97 hectares)
(iv) 307/308, Arundeep Complex, Race Course, Baroda (admeasuring 1,405 super built up area)
(v) 134,135 1st Floor, Hindustan Kohinoor Ind. Complex, LBs Marg, Vikhroli (W), Mumbai (admeasuring 10396.60 sq.mtrs.)
(vi) Plot No. B-77 (Admeasuring 8825 sq. mts.) and B-78 (Admeasuring 8480 sq. mts), Matsya Industrial Area, Alwar, Rajasthan.
(vii) Plot no.23 & 24 (area 3.29 acre), SIPCOT Industrial Estate, Phase-II, Hosur, Krishnagiri, Tamil Nadu.
(viii) Land and Building Located at Plot no.104/3, village Puthur, Tirunvelli, Tamil Nadu (admeasuring 20,261 sq.mtrs.)
(ix) Plot No. 149/P1,149/P2,156,158/P1,158/P2 Mamuara, Bhuj (admeasuring 73664 sq.mtrs.)
2) Second pari-passu charge by way of mortgage / hypothecation over :
Current assets existing and proposed such as stocks of raw materials, stocks in process, finished goods , stores, spares, book
debts, bills in course of collection etc. of the company.
3) All the term loans are further collaterally secured by personal guarantee of Mr. Rajesh Parikh and Mr. Atil Parikh (Whole time
directors of the company).
Note 41 Earning per Share -(EPS)
Earnings per equity share of FV of Rs 5 each
Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted
average number of Equity shares outstanding during the year.
Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company 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.
Note 42.2 Claims against the company not acknowledged as debt42.2.1
The Company had received an Order dated 06th August, 2016, from Geology and Mining Department, Bhuj, Kutch for excavating
the mine beyond the approved lease area, situated at Survey No. 483, Mamuara, Bhuj, Kutch whereby a penalty of Rs. 419.13
lakhs is levied on the Company. Company had filed an appeal against the order of the Geology and Mining Department with the
appellate authority as per the rules of Gujarat Mineral (Prevention of Illegal Mining, Transportation and Storage) Rules, 2005. The
appellate authority(additional director [Appeal and flying squad], vide its order dated 17th January, 2020 has passed final order
and continued order dated 06th August, 2016 passed by the Geologist, Bhuj. The company Filed a REVISION application on dated
20/02/2020 to The Commissioner Shri ( Geology & Mining , Gandhinagar) against the order passed by Additional Director (Appeal
& Flying Squad), Gandhinagar, dated 17/01/2020.The Commissioner shri has revoked the earlier orders passed and directed
geology department to Reassess the case vide order dated 07/12/2021.
42.2.2
Vendors of the company have made claims against company amouting to Rs. 19.38 Lakh (Previous Year - Rs. 19.38 Lakh)
42.2.3
The Company has imported a compressor under the EPCG (Export Promotion Capital Goods) Scheme and has availed duty benefits
thereon. In terms of the EPCG authorization, the Company is required to fulfill an export obligation equivalent to six times the duty
saved within a period of six years from the date of the license. The unfulfilled export obligation as at March 31, 2026 amounts to
Rs. 54.20 lakhs.
(B) CONTINGENT ASSETS
The company is having certain claims which are pursuing through legal processes. The Management believe that probable
outcome in all such claims are uncertain. Hence, the disclosure of such claims is not required in the financial statements.
(C) CAPITAL COMMITMENTS
Estimated amount of contracts remaining to be executed on capital account as on 31st March, 2026 amounting to Rs. 2.91
lakhs (Net of Advance Rs. 9.33 lakhs) [31st March, 2025, Rs. 140.30 Lakhs (Net of Advance Rs. 416.08 Lakhs)].
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.
Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the
counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as
little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities included in level 3.
B. Measurement of fair values
i) Valuation techniques and significant unobservable inputs
The fair value of investment in equity shares of other entity is determined based on market value of the shares. The
approach taken for valuation is Book value of the equity instruments. The investee company is IND AS compliant company.
Significant unobservable input includes financial position (net worth) of the entity as at the valuation date.
Financial instruments measured at fair value - FVTOCI in unquoted equity shares
ii) Transfers between Levels 1 and 2
There have been no transfers between Level 1 and Level 2 during the reporting periods
iii) Level 3 fair values
Movements in the values of unquoted equity instruments for the year ended 31st March 2026 and 31st March 2025 is as below:
Transfer out of Level 3
There were no movement in level 3 in either directions during the year ended 31st March 2026 and the year ended 31st March 2025.
Ind AS 101 allows an entity to designate certain investments in equity instruments as fair valued through the OCI on the basis of the
facts and circumstances at the transition date to Ind AS.
The Company has elected to apply this exemption for its investment in equity shares.
Sensitivity analysis
Based on the valuation report for investments in unquoted shares, the sensitivity as as 31st March 2026 is provided below.
C. Financial risk management
The Company has exposure to the following risks arising from financial instruments:
• Credit risk ;
• Liquidity risk ; and
• Market risk
i. Risk management framework
The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Company has a well-define Risk Management framework for reviewing the major risks and
taking care of all the financial risks. The risk management framework aims to :
a. create a stable business planning environment by reducing the impact of currency and interest rate fluctuation on
company's business plan.
b. achieve greater predictability to earnings by determining the financial value of the expected earning in advance.
Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's
activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and
constructive control environment in which all employees understand their roles and obligations.
The audit committee oversees how management monitors compliance with the company's risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The
audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of
risk management controls and procedures, the results of which are reported to the audit committee. The Board of Directors
reviews and agrees policies for managing each of these risks.
ii. Credit risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations, and arises principally from the Company's receivables from customers and investments in debt
securities and loans given.
(a) Cash and Cash equivalent and Other Bank Balances
The company maintains its Cash and cash equivalents and Bank deposits with banks having good reputation, good past
track record and high quality credit rating and also reviews their credit-worthiness on an on-going basis.
(b) Trade and other receivables
The Company's exposure to credit Risk is the exposure that Company has on account of goods sold or services rendered to
a contractual counterparty or counterparties, whether with collateral or otherwise for which the contracted consideration
is yet to be received. The Company's major customer base is paints, plastic, rubber and other misc. industries.
The Commercial and Marketing department has established a credit policy.
The Company raises the invoice based on the quantities sold. The Company provides for allowance for impairment that
represents its estimate of expected losses in respect of trade and other receivables.
For trade receivables, as a practical expedient, the Company computes credit loss allowance based on a provision
matrix. The provision matrix is prepared based on historically observed default rates over the expected life of trade
receivables and is adjusted for forward-looking estimates.
Assets are written off when there are no reasonable expectation of recovery such as debtor declaring bankruptcy or
failing to engage in a repayment plan with group. Where receivables have been written off the company continues to
engage in enforcement activity to attempt to recover the receivables. where recoveries are made, these are recognised
in profit and loss.
The maximum exposure to the credit risk at the reporting date from Trade Receivable is as amounts mentioned in Note 11
For trade receivables, as a practical expedient, the Company computes credit loss allowance based on a provision
matrix on the portfolio of trade receivables. The provision matrix is prepared based on historically observed default rates
over the expected life of trade receivables and is adjusted for forward-looking estimates. At every reporting date, the
historical observed default rates are updated and changes in the forward-looking estimates are analysed. The company
has devided trade receivables in different ageing schedule as dues between (1) 0 - 60 days (2) 61 - 180 days (3) 181 - 270
days (4) 271 - 999 days and (5) 1000 days and above. The company has applied the different expected default rates on
outstanding trade receivables in respective ageing schedule.
(c) Loans and deposits
Company has given loans to employees, loan to associate and security deposits. The maximum exposure to the credit
risk at the reporting date from above amounts to Rs. 895.31 Lakhs on 31st March, 2026 and Rs. 645.32 Lakhs on 31st
March, 2025.
iii. 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 possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and
stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.
(a) Term loans from banks and financial institution of Rs. 616.24 Lakhs (at amortised cost) that is secured as mentioned in
Note 20
(b) The company has also accepted deposit from share holders and directors amounting to Rs. 2,337.64 Lakhs (at amortised
cost) of unsecured nature.
(c) For maintaining working capital liquidity company avails cash credit limit from bank. The amount availed as at 31st March,
2026 is Rs. 8,335.38 Lakhs (at amortised cost).
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and
undiscounted, and exclude the impact of netting agreements.
The gross inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to non¬
derivative financial liabilities held for risk management purposes and which are not usually closed out before contractual maturity.
iv. Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity
price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits and
FVTOCI investments.
(a) Currency risk
The functional currency of the Company is Indian Rupee. The Company have transaction of import of materials, other
foreign expenditures and export of goods. hence the company is exposed to currency risk on account of payables and
receivables in foreign currency. Company have outstanding balances in Euro, USD and GBP.
(b) Interest rate risk
Interest rate risks is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the
reference rates could have an impact on the Company's cash flows as well as costs. The Company's interest rate exposure
is mainly related to debt obligation. On period under review the Company do not have any term loans at fixed rate and has
not entered into interest rate swaps for its exposure to long term borrowings at floating rate. The company have accepted
deposits from share holders which are fixed rate instruments.
(c) Commodity Price Risk
Commodity price risk arises due to fluctuation in prices of raw Material and other consumables. The company has risk
management framework aimed at prudently managing the risk arising from the volatility in commodity prices and freight costs.
The company's commodity risk is managed centrally through well established trading operations and control processes.
(d) Equity Price Risk
The Company do not have any investment in quoted equity shares hence not expose to equity price risk.
Note 44 Capital Management
The Company's objectives when managing capital are to - safeguard their ability to continue as a going concern, so that they can
continue to provide returns for shareholders and benefits for other stakeholders, and - Maintain an optimal capital structure to
reduce the cost of capital.
The Company determines the amount of capital required on the basis of the annual business plan coupled with long term and short
term strategic investments and expansion plans. The funding needs are met through equity, cash generated from operations, long
terms and short term bank borrowings and deposits.
The Company monitors capital using a ratio of ‘adjusted net debt' to ‘adjusted equity'. For this purpose, adjusted net debt is defined
as total liabilities, comprising interest-bearing loans and borrowings, less cash and cash equivalents. Adjusted equity comprises all
components of equity.
(i) Entity responsibilities for the governance of the plan
Risk to the Plan
Following are the risk to which the plan exposes the entity :
A Actuarial Risk:
It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:
Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an increase
in Obligation at a rate that is higher than expected.
Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity
benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of cash
flow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.
Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the
Gratuity benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at
the resignation date.
B Investment Risk:
For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair
value of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount
rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount
rate during the inter-valuation period.
C Liquidity Risk:
Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some
of such employees resign / retire from the company there can be strain on the cash flows.
D Market Risk:
Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One actuarial
assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An increase in
discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa. This assumption depends on
the yields on the corporate / government bonds and hence the valuation of liability is exposed to fluctuations in the yields as
at the valuation date.
E Legislative Risk:
Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation /
regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher benefits
to the employees. This will directly affect the present value of the Defined Benefit Obligation and the same will have to be
recognized immediately in the year when any such amendment is effective.
(ii) The company has participated in Group Gratuity Scheme Plan with SBI Life insurance to meet its gratuity liability. The present
value of the plan assets represents the balance available at the end of the year.
Note 45.5 Other Notes:
(i) The expected rate of return on Plan Assets is determined considering several applicable factors, mainly the composition
of Plan Assets held, assessed risks, historical results of return on Plan Assets and the Company's policy for the Plan Assets
management.
(ii) The actuarial valuation takes into account the estimates of future salary increases, inflation, seniority, promotion and other
relevant factors such as supply and demand in the employment market. The management has relied on the overall actuarial
valuation conducted by the actuary.
(iii) The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four Labour
Codes, viz., Code on Wages, 2019, Code on Social Security, 2020, Industrial Relations Code, 2020 and Occupational Safety,
Health and Working Conditions Code 2020 (collectively referred to as the ‘New Labour Codes'). These Codes have been
made effective from November 21, 2025. The corresponding all supporting Rules under these codes are yet to be notified.
Based on the management's assessment and actuarial valuation, there is no material financial implication due to these
changes. The assessment of other impacts, if any, on employee benefit expenses arising from the New Labour Codes will be
undertaken and accounted for upon notification of the relevant rules by the appropriate authorities.
Note 47 Segment Reporting
The Company primarily operates in the segment of Micronized Minerals. The MD/CEO of the Company allocate
resources and assess the performance of the Company, thus are the Chief Operating Decision Maker (CODM). The
CODM monitors the operating results of the business as a one, hence no separate segment need to be disclosed.
a) Information about product and services:
Sale of Minerals : Rs.81,952.17 Lakhs (P.Y - Rs. 79,115.35 Lakhs)
b) Information about geographical areas:
1. The Company have revenues from external customers attributable to all foreign countries amounting to Rs.
9,549.26 lakhs (P.Y - Rs. 9,319.61 Lakhs) and entity's country of domicile amounting to Rs. 72,402.91 Lakhs
(P.Y - Rs. 69,795.74 lakhs).
2. None of the company's Non Current assets are located outside India hence entity wide disclosure is not
applicable to the Company.
c) Information about major customers:
There are two (P.Y - two) customers to the company which accounts for more than 10% of aggregate sales. Net
sales made to this customer amounts to Rs. 22,808.10 lakhs (P.Y 20,181.34 Lakhs).
Note 51 ADDITIONAL REGULATORY INFORMATION DISCLOSURESNote 51.1 Registration of charges or satisfaction with Registrar of Companies (ROC)
The Company does not have any charges or satisfaction of charges which are yet to be registered with the Registrar
of Companies beyond the statutory period during the year ended 31 March 2026. Further, no charges were created
or satisfied during the year.
Note 51.2 Details of Benami Property held
The company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)
and rules made thereunder, hence no proceedings initiated or pending against the company under the said Act and
Rules.
Note 51.3 Loans and advances granted to specified person
The company has granted loan to the related party under section 185 and 186 of the Companies Act, 2013 which is
as follow :
Note 51.3.1 :
The Company has granted a loan for a tenure of five years at an interest rate of 6.50% per annum, commencing from
the date of the first disbursement.
Note 51.4 Utilisation of borrowed funds, share premium and other funds
The Company has neither advanced nor lended nor invested any funds to any person(s) or entity(ies), including foreign
entities (Intermediaries), with the understanding (whether recorded in writing or otherwise) that such Intermediaries shall
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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Further, the Company has neither received any funds from any person(s) or entity(ies), including foreign entities
(Funding Parties), with the understanding (whether recorded in writing or otherwise) that the Company shall directly or
indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding
Parties (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Note 51.5 Compliance with number of layers of companies
The company has complied with the number of layers prescribed under clause (87) of section 2 of the
Act read with Companies (Restriction on number of Layers) Rules, 2017.
Note 51.6 Details of Crypto Currency or Virtual Currency
The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
Note 51.7 Undisclosed Income
There is no transaction, which has not been recorded in books of accounts, that has been surrendered
or disclosed as income during the year in tax assessments under the Income Tax Act, 1961.
Note 51.8 Relationship with struck off companies
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
Note 52.1 Proposed Dividend on Equity shares is Subject to the approval of the shareholders of the company
at the Ensuing Annual General Meeting and not recognised as liability as at the Balance Sheet date.
Note 53 Exceptional Item:
The figure reflected as Exceptional Item presented under the head “Labour Claims Settlement” pertains
to the old claims settled by the Company with labourers for cases filed against the Company under
Section 33C(2) in the Labour Court and under Section 17B in the High Court. These claims pertain to
disputes regarding wages, benefits, and other entitlements related to prior years.
Note 54 Previous year figures
Previous year's figures have been regrouped or reclassified wherever necessary to confirm to the
current period's presentation.
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