(b) Terms/ rights attached to equity shares
The Company has only one class of equity shares having par value of ' 1 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The Final dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
On 11th July, 2023 the Company had allotted 8,29,52,820 bonus equity shares of '1 each (fully paid up) in the proportion of 1 bonus equity share for every 2 fully paid up equity share to eligible shareholders whose names appeared in the Register of Members / Register of Beneficial Owner as on 11th July, 2023, being the record date fixed for this purpose, in accordance with approval received from the Members. The said bonus equity shares ranked pari passu in all respects with the then existing equity shares of the Company. As a result of the bonus issue, the paid-up capital of the Company increased to '2,488.58 lakhs from '1,659.06 lakhs. The paid-up capital on account of bonus issue of '829.52 lakhs was appropriated from securities premium
Nature and Purpose of Reserves:
(i) Securities Premium
Securities premium account is created when shares are issued at premium. The Company may issue fully paid-up Bonus shares to its members out of the Securities premium account. As per Section 52 (2) (e) of the Companies Act, 2013, Securities premium account can be used for buy back of shares.
(ii) General Reserve
General Reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. General Reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.
(iii) Retained Earning
Retained earning are the profits that the Company has earned till date, less any transfer to General Reserve, dividends or other distributions paid to the shareholders.
29 Leases
The leasing arrangements are in most cases renewable by mutual consent, on mutually agreeable terms.
The Company’s significant leasing arrangements are mainly in respect of Storage Tanks at various ports, residential premises and office premises. The aggregate lease rentals payable on these leasing arrangements are charged as rent under “Other Expenses”.
The Company has not recognised any right- of- use asset ("ROU") during the year.
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30 Contingent liabilities & Capital Commitments
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(' in lakhs)
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Particulars
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As at
31st March, 2026
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As at
31st March, 2025
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Claims against the Company not acknowledged as debts
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i. Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances).
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524.98
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-
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ii. GST demand under appeal
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21.53
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-
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iii. Income tax demand under appeal
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71.53
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91.36
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Note:The Company had incurred during the financial year 22-23 a sum of '2432.49 lakhs as CSR expenses. The CSR obligation for financial year 22-23, 23-24 and 24-25 of '2013.95 lakhs is being set-off and the balance excess amount of '418.54 lakhs has been brought forward in the current year .The same is in compliance with the FAQ issued by the Ministry of Corporate Affairs vide Circular no 14/2021 dated 25th August, 2021 wherein it has been clarified that the excess amount can be set off against the required 2% CSR expenditure up to the immediately succeeding three financial years subject to compliance with the conditions stipulated under Rule 7(3) of the Companies (CSR Policy) Rules, 2014.
37 Segment Reporting
The Company manufactures and sells ABS and SAN granules alongwith Trading in raw materials used for manufacturing ABS and SAN which belong to the same product group i.e. “Highly Specialized Engineering Thermoplastics” . The product has the same risks and returns, which are predominantly governed by market conditions, namely demand and supply position. Thus, in the context of Indian Accounting Standard - 108 “Segment Reporting”, issued by the Institute of Chartered Accountants of India, there is only one identified reportable segment.
38 Fair value disclosures
38.1 The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:
The categories used are as follows:
• Level 1: This hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, traded bonds, ETFs and mutual funds that have quoted price. ;
• Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize 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; and
• Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
39 Financial risk management
39.1 Capital management
For the purpose of the Company's capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the company. The primary objective of the company’s capital management is to maximise the shareholder value and to safeguard the companies ability to remain as a going concern. The company manages its capital structure and makes adjustments to it, in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The current capital structure of the company is equity based with no financing through borrowings. The company is not subject to any externally imposed capital requirement. The company's total owned funds of ' 1,08,193.47 lakhs with zero debt is considered adequate by the mangement to meet its business interest and any capital risk it may face in future,
No changes were made in the objectives, policies or processes during the year ended 31st March, 2026 and 31st March, 2025 respectively.
39.2 Financial Risk Management- Objectives And Policies
The company's activities exposes it to variety of financial risk viz. credit risk, liquidity risk and market risk. The company has various financial assets such as deposits, Loans & Advances, trade and other receivables and cash and bank balances directly related to their business operations. The Company's principal financial liabilities comprise of trade and other payables. The company's senior management focus is to foresee the unpredictability and minimise the potential adverse effects on the company's financial performance. The company's overall risk, management procedures to minimize the potential adverse effect of the financial market on the company's performance are as follows:
39.3 Credit Risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk primarily from trade receivables, cash and cash equivalents, and financial assets measured at amortised cost.
A Trade Receivables:
Trade receivables of the Company are generally unsecured. The Company performs ongoing credit evaluations of its customers’ financial conditions and monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business through internal evaluation. The allowance for impairment of trade receivables is created to the extent and as and when required, based upon the expected collectability of accounts receivables. The Company has no concentration of credit risk as the customer base is geographically distributed in India.
B Cash and cash equivalents and bank deposits
Credit risk related to cash and cash equivalents and bank deposits is managed by only accepting highly rated banks and diversifying bank deposits and accounts in different banks across the country.
C Other financial assets measured at amortised cost
Other financial assets measured at amortised cost includes loans and advances, security deposits and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously and is based on the credit worthiness of those parties.
D Investments
Investment in Joint Venture are measured at cost as per Ind AS 28, 'Investment in Associates and Joint Ventures'. Provision for expected credit losses
a) Expected credit losses for financial assets other than trade receivables
The Company does not have any expected loss based impairment recognised on such assets considering their low credit risk nature.
b) Expected credit loss for trade receivables under simplified approach
The Company recognizes lifetime expected credit losses on trade receivables using a simplified approach, wherein Company has defined percentage of provision by analyzing historical trend of default and such provision percentage determined have been considered to recognize life time expected credit losses on trade receivables (other than those where default criteria are met in which case the full expected loss against the amount recoverable is provided for). Based on such simplified approach,no allowance has been recognised.
39.4 Liquidity risk is the risk that the company will not be able to meet its financial obligation as and when they fall due. Liquidity risk arises because of the possibility that the company could be required to pay its liabilities earlier than expected. Liquidity risk is managed by monitoring on a regular basis that sufficient funds are available to meet any future commitments. The company manages its liquidity risk by maintaining sufficient bank balance .
39.5 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. The company is not exposed to other price risk whereas the exposure to currency risk, interest risk and commodity risk is given below:
A Foreign Currency Risk
Foreign currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. It arises mainly where receivables and payables exist due to transactions entered in foreign currencies.
A.1 Foreign currency risk management
The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved board policy parameters. Quarterly reports are submitted to Board of Directors on the unhedged foreign currency exposures.
The carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows.
39.5 Market Risk
B Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of financial instrument will fluctuate due to change in market interest rates. The company's investments are primarily in fixed rate interest bearing investments and Loans.
C Commodity price risk
The Company’s principal raw materials are variety of polymers which are primarily derivatives of crude oil. Company sources its raw material requirement from across the globe. Domestic market prices generally remains in sync with the international market prices.
Volatility in Crude Oil prices, Currency fluctuation of Rupee vis-a-vis other prominent currencies coupled with demand-supply scenario in the world market, affect the effective price and availability of polymers for the Company. Company effectively manages availability of material as well as price volatility by expanding its source base, having appropriate contracts and commitments in place and planning its procurement and inventory strategy. The Company’s Board of Directors has developed and enacted a risk management strategy regarding commodity price risk and its mitigation. The Company mitigated the risk of price volatility by entering Long Term & Short term contracts for the purchase of these commodities basis estimated annual requirements.
40 Employee benefit plans
40.1 Defined Contribution Plans :
(a) Providend fund
Contributions are made to employees provident fund organization in India for employees at the rate of 12% of basic salary as per regulations. The contributions are made to registered provident fund administered by the Government. The obligation of the Company is limited to the amount contributed and it has no further contractual or any constructive obligation.
(b) Superannuation Fund
Contributions are made to Life Insurance Corporation of India for eligible employees at the rate of 15% of basic salary as per superannuation scheme of the Company.
(c) Employee's State Insurance
Contributions are made to ESI Corporation for all eligible employees at rate of 4.75% of ESI wage as per the definition under the ESI Act.
40.2 Defined Benefit Plans :
Gratuity
The Company has an obligation towards gratuity, a defined benefit retirement plan covering all employees. The plan provides for lump sum payment to vested employees at retirement or at death while in employment or on termination of the employment of an amount equivalent to 15 days salary, as applicable, payable for each completed year of service. Vesting occurs upon completion of five years of service. The Company accounts for the liability for gratuity benefits payable in the future based on an actuarial valuation.
The company’s liabilities towards gratuity and leave encashment, a defined benefit obligation, is accrued and provided for on the basis of actuarial valuation, using the projected unit credit method as at the Balance Sheet date.
(K) Sensitivity Analysis
The Sensitivity analysis below has been determined based on reasonably possible change of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. These sensitivities show the hypothetical impact of a change in each of the lied assumptions in isolation. While each of these sensitivities holds all other assumptions constant, in practice such assumptions rarely change in isolation and the asset value changes may offset the impact to some extent. For presenting the sensitivities, the present value of the Defined Benefit Obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the Defined Benefit Obligation presented above. There was no change in the methods and assumptions used in the preparation of the Sensitivity Analysis from previous year.
43 Additional regulatory information required by Schedule III of Companies Act, 2013
43.1 Details of Benami property:
No proceeding have been initiated or are pending against the Company for holding any Benami property under the Benami Transaction (Prohibition) Act,1988 (45 of 1988) and the rules made thereunder.
43.2 Utilisation of borrowed funds and share premium:
(a) 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 person 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 or on behalf of the ultimate beneficiaries.
(b) The Company has 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 person 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 or on behalf of the ultimate beneficiaries.
43.3 Compliance with number of layers of companies:
The Company has complied with the number of layers prescribed under the Companies Act, 2013.
43.4 Compliance with approved scheme (s) of arrangements:
The Company has not entered into any scheme or arrangement which has an accounting impact on current or previous year.
43.5 Undisclosed income:
There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.
43.6 Details of crypto currency or virtual currency:
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
43.7 Valuation of Property, Plant and Equipment:
The Company has not revalued its property, plant and equipment (including right-of-use-assets) or intangible assets or both during the current or previous year.
43.8 Willful Defaulter:
The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.
43.9 Details of Transaction with Struck of Companies:
There are no Transactions with Struck of Companies during the Current and Previous Year.
44 The Government has notified and brought into force substantial provisions of the Code on Social Security,2020 ("Social Security Code"); the Occupational Safety, Health and Working Conditions Code,2020; the Industrial Relations Code,2020 and the Code on Wages,2019 (collectively, the "Labour Codes") on 21st November, 2025, which consolidates, subsumes, amends and replaces numerous existing central labour legislations. The Ministry of Labour and Employment had earlier released draft rules for the Code on 13th November, 2020. Subsequently, on 21st November, 2025, the Government has notified and brought into force substantial provisions of the Labour Codes. However, certain specific rules and corresponding State-level notifications are yet to be notified.The company has provided for the Employee benefit obligations for the current quarter and year ended 31st March, 2026 in accordance with Ind AS 19- 'Employee Benefits' and FAQs on key accounting implications arising from the New Labour Codes issued by the Institute of Chartered Accountants of India ('ICAI').
45 The previous year figures have been regrouped/ reclassified, wherever necessary to confirm to the current year presentation.
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