x. PROVISIONS
Provisions for legal claims, warranties, discounts and returns are recognized when the Company has a present legal or
constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. Provisions are not recognized 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 recognized even if the likelihood of an outflow with
respect to any one item included in the same class obligations may be small.
Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the
present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax
rate that reflects the current market assessments of the time value of money and the risks specific to the liability. The
increase in the provision due to the passage of time is recognized as interest expense.
xi. CONTINGENT LIABILITY
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation that the
likelihood of outflow of resources is remote, no provision or disclosure is made.
xii. CONTINGENT ASSETS
Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow
of economic benefits. Contingent Assets are not recognized though are disclosed, where an inflow of economic benefits
is probable.
xiii. TRADE AND OTHER PAYABLES
These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial
year which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12
months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized
cost using the effective interest method.
xiv. INCOME TAX
Tax expense for the period, comprising current tax and deferred tax, are included in the determination of the net profit or
loss for the period. Current tax is measured at the amount expected to be paid to the tax authorities in accordance with
prevailing income tax law.
Current tax
Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted,
at the time of reporting.
Current taxes are recognized in statement of profit or loss, except when they relate to items recognized in other
comprehensive income or equity, in which case the tax is recognized in other comprehensive income or equity. Income
tax assets and liabilities are presented separately in the Balance Sheet except where there is a right of set-off within fiscal
jurisdictions and an intention to settle such balances on a net basis.
Deferred taxes
Deferred tax is provided using the liability method on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the Balance Sheet at the reporting date.
Deferred tax assets and liabilities are measured based on tax rates (and tax laws) that have been enacted or substantively
enacted at the reporting date and are expected to apply in the year when the related deferred tax asset is expected to
realise or the deferred tax liability is expected to settle.
Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other
comprehensive income or in equity). Deferred tax items are recognized in correlation to the underlying transaction either
in other comprehensive income or directly in equity.
Deferred tax assets and deferred tax liabilities are set off if a legally enforceable right exists to set off current tax assets
against current tax liabilities and the deferred taxes relate to the same taxation authority.
xv. FOREIGN CURRENCY TRANSACTIONS
Functional and presentation currency
Items included in the financial statement of the Company are measured using the currency of the primary economic
environment in which the entity operates (‘the functional currency’). The financial statements are presented in Indian
Rupees (INR) currency, which is the Company’s functional and presentation currency.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the
transactions. Realised gains and losses on settlement of foreign currency transactions are recognized in the Statement
of Profit and Loss. Foreign currency denominated monetary assets and liabilities at the year-end are translated at the
year-end exchange rates, and the resultant exchange difference is recognized in the Statement of Profit and Loss. Non¬
monetary foreign currency items are carried at cost
xvi. REVENUE RECOGNITION
Sale of goods
Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue is
reduced for customer discounts, rebates granted, other similar allowances, goods and services tax (GST) and duties
collected on behalf of third parties.
Revenue is measured based on transaction price, which is the fair value of the consideration received or receivable,
stated net of discounts, returns and value added tax. Transaction price is recognized based on the price specified in the
contract, net of the estimated sales incentives/ discounts. Accumulated experience is used to estimate and provide for
the discounts/ right of return, using the expected value method. The timing of such recognition in case of sale of goods is
when the control over the same is transferred to the customer.
A refund liability is recognized for expected returns in relation to sales made corresponding assets are recognized for the
products expected to be returned.
In respect of sale of goods and services where the company participates in tenders, the control of the goods is transferred
on dispatch and revenue is recognized in accordance with the terms of the tender. For contracts accepted through
tendering process and where separate warranty terms are prescribed, these obligations are not deemed to be separate
performance obligations and therefore estimated and included in the total costs of the products. Where required, amounts
are recognized separately accordingly in line with IND AS 37 - Provisions, Contingent Liabilities and Contingent Assets.
Export benefit duty drawback
Incomes in respect of duty drawback in respect of exports made during the year are accounted on accrual basis
Interest and dividend income
Interest income is recognized in statement of profit and loss using effective interest method. Dividend income is recognized
when the Company’s right to receive dividend is established.
Claims
Insurance claims are accounted on acceptance basis. All other claims/entitlements are accounted on the merits of each
case or on realization.
xvii. RETIREMENT AND OTHER EMPLOYEE BENEFITS
Short term employee benefits
Liabilities for salaries, wages and performance incentives including non- monetary benefits that are expected to be
settled wholly within twelve months after the end of the period in which the employees render the related service are
recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts
expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefits obligations
in the Balance Sheet.
Long term employee benefits
Defined contribution plans
The Company has Defined Contribution Plans for its employees such as Provident Fund, Employee’s State Insurance, etc.
and contribution to these plans are charged to the Statement of Profit and Loss as incurred, as the Company has no further
obligation beyond making the contributions.
Defined benefit plan:
Gratuity: Gratuity has been covered under the LIC's NEW GROUP GRATUITY CASH ACCUMULATION PLAN. The liability
or asset recognized in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined
benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is
calculated annually by actuaries using the projected unit credit method.
The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows by
reference to market yields at the end of the reporting period on government bonds that have terms approximating to the
terms of the related obligation.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and
the fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.
Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
recognized in the period in which they occur, directly in other comprehensive. They are included in retained earnings in
the statement of changes in equity and in the balance sheet.
Changes in present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized
immediately in profit or loss as past service cost.
xviii. EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the net profit for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders
and the weighted average number of shares outstanding during the period are adjusted for the effects of diluted potential
equity shares.
xix. DIVIDEND TO EQUITY SHAREHOLDERS
Dividend to equity shareholders is recognized as a liability and deducted from shareholders' equity, in the period in which
the dividends are approved by the equity shareholders in the general meeting.
xx. STATEMENT OF CASH FLOWS
Cash flows are reported using the indirect method whereby profit/loss is adjusted for the effects of transactions of non¬
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating,
investing and financing activities of the Company are segregated based on the available information.
xxi. CONTRIBUTED EQUITY
Equity shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from the proceeds..
Note 2 : SIGNIFICANT JUDGEMENTS AND KEY SOURCES OF ESTIMATION IN APPLYING
ACCOUNTING POLICIES
Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations
of future events that may have a financial impact on the Company and that are believed to be reasonable under the circumstances.
Information about Significant judgments and Key sources of estimation made in applying accounting policies that have the most
significant effects on the amounts recognized in the financial statements is included in the following notes:
• Recognition of Deferred Tax Assets: The extent to which deferred tax assets can be recognized is based on an assessment
of the probability of the Company’s future taxable income against which the deferred tax assets can be utilized. In addition,
significant judgment is required in assessing the impact of any legal or economic limits.
• Classification of Leases: The Company has exercised judgement in determining the lease term as the noncancellable term of
the lease, together with the impact of options to extend or terminate the lease if it is reasonably certain to be exercised. Where
the rate implicit in the lease is not readily available, an incremental borrowing rate is applied. This incremental borrowing
rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the
funds necessary to obtain an asset of a similar nature and value to the right of-use asset in a similar economic environment.
Determination of the incremental borrowing rate requires estimation."
• Defined Benefit Obligation (DBO): Employee benefit obligations are measured on the basis of actuarial assumptions which
include mortality and withdrawal rates as well as assumptions concerning future developments in discount rates, medical
cost trends, anticipation of future salary increases and the inflation rate. The Company considers that the assumptions used
to measure its obligations are appropriate. However, any changes in these assumptions may have a material impact on the
resulting calculations.
• Provisions and Contingencies: The assessments undertaken in recognising provisions and contingencies have been made
in accordance with Indian Accounting Standards (Ind AS) 37, ‘Provisions, Contingent Liabilities and Contingent Assets’. The
evaluation of the likelihood of the contingent events is applied best judgment by management regarding the probability of
exposure to potential loss.
• Impairment of Financial Assets: The Company reviews its carrying value of investments carried at amortized cost annually, or
more frequently when there is indication of impairment. If recoverable amount is less than its carrying amount, the impairment
loss is accounted for.
• Allowances for Doubtful Debts: The Company makes allowances for doubtful debts through appropriate estimations of
irrecoverable amount. The identification of doubtful debts requires use of judgment and estimates. Where the expectation
is different from the original estimate, such difference will impact the carrying value of the trade and other receivables and
doubtful debts expenses in the period in which such estimate has been changed.
• Fair value measurement of financial Instruments: When the fair values of financial assets and financial liabilities recorded in
the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation
techniques including the Discounted Cash Flow model. The input to these models are taken from observable markets where
possible, but where this not feasible, a degree of judgments’ is required in establishing fair values. Judgments include
considerations of inputs such as liquidity risk, credit risk and volatility.
Notes :
a) The Company has no restriction on the realisability of its investment property and no contractual obligation to purchase,
contract or develop investment properties or for repairs, maintenance and enhancements.
b) Refer Note No. 21.1(b) for charge created against borrowings.
c) As at 31st March 2026, the Company's Investment Property comprises four (4) residential flats with an aggregate carrying
value of ?2,417.84 Lacs, measured in accordance with Ind AS 40. The Board of Directors, at its meeting held on 15th January
2026, had approved the sale of two (2) of the aforesaid flats. Subsequent to the reporting date but prior to the signing date,
the aforesaid two flats have been transeferred pursuant to Agreements for Sale dated 01st May,2026, duly executed in favour
of the respective buyers. Accordingly, the carrying value attributable to these two flats has been reclassified and presented
separately as "Assets Held for Sale” in accordance with Ind AS 105, with associated liabilities disclosed separately on the face
of the Balance Sheet. The remaining two (2) flats continue to be classified as Investment Property. The assets so reclassified are
measured at the lower of their carrying amount and fair value less costs to sell, and no impairment loss has been recognised,
as the sale consideration exceeds the respective carrying values.
d) Investment in property is against investment in residential flats, Company has made investment in total 2 residential flats, which
are occupied by the director's of the Company.
Note :
6.1 The Company has taken Land on lease for lease period ranging from 95 - 99 years, which is renewable at the end of the
Lease terms.
6.2 Refer Note 24.1 for charge created against borrowings.
6.3 The Company has amortised Right to use assets on SLM basis for the remaining period of the lease. Since Company has
revalued its Right to use assets in the year 2016-2017 through Reserve & Surplus so the proportionate amount of Amortisation
are directly transfer to Revaluation Reserve without taking any effect in the Statement of profit & loss account.
6.4 Present value of Lease liability in relation to above RoU asset is extremely insignificant and therefore concluded as immaterial
due to which it is not recognised in books of accounts and no disclosure in this regard is made. The absence of lease liabiity
does not impact the financial position of the company.
19.5 Terms/ Rights attached to Equity Shares :
The Company has only one class of issued shares i.e. Equity Shares having par value of Rs. 2/- per share. Each holder of
Equity Shares is entitled to one vote per share and equal right for dividend. The dividend proposed by the Board of Directors
is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the
event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after payment of all
preferential amounts, in proportion to their shareholding.
19.8 No equity shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment
as at the Balance Sheet date.
19.9 No equity shares have been bought back by the Company during the period of 5 years preceding the date as at which the
Balance Sheet is prepared.
19.10 The Company has alloted 51 lacs convertible warrants on a preferential basis, at an issue price of f 80 per warrant (including
premium of f 78) , convertible into, or exchangeable for, equity share, in accordance with Securities and Exchange Board
of India (Issue Capital and Disclosure Requirements), Regulations 2018 and subsequent amendments thereto [“SEBI (ICDR)
Regulations”], pursuant to a special resolution passed at the Annual General Meeting held on 26th Sepetmber, 2025. The
warrants do not carry any interest, dividend or voting rights until converted into equity shares. The warrants are not traded
on any stock exchange. The Company has received f 10.20 crore (25% of total issue price of f 40.80 crore) as upfront
consideration as required under Regulation 169(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations,
2018, classified under "Other Equity". The balance f 30.60 crore (75%) is receivable upon exercise.
19.11 No calls are unpaid by any Director or Officer of the Company during the year.
Nature/ Purpose of each reserve
a) Capital Reserve and Capital Subsidy Reserve represents the amount transferred from the transferor company persuant to
Scheme of Arrangement effceted in earlier years.
b) Securities Premium: The amount received in excess of face value of the equity shares is recognised in Securities Premium
Reserve. This reserve is utilised in accordance with the provisions of the Companies Act 2013.
c) General Reserve: The reserve arises on transfer portion of the net profit to general reserve.
d) Retained Earning: Generally represents the undistributed profit/amount of accumulated earnings of the company.
e) Other Comprehensive Income (OCI) : Other Comprehensive Income (OCI) represents the balance in equity for items to be
accounted under OCI and comprises of the following:
i) Equity Instruments through OCI: The Company has elected to recognise changes in the fair value of certain investment in
equity instrument in other comprehensive income.
ii) Remeasurement of defined benefit obligations: The actuarial gains and losses arising on defined benefit
obligations have been recognised in OCI. The amount is subsequently transferred to retained earnings as per the
Schedule III requirement.
f) Money received against Share Warrents - Refer note no.19.10
21.1 Details of Security:
a. During the quarter and year ended 31 March 2026, the Company had issued 2,000 Senior, Secured, Redeemable,
Unlisted, Unrated, Non-Convertible Debentures (“NCDs”) having face value of ?1 Lacs each aggregating to
? 2,000.00 Lacs on private placement basis. The NCDs carry coupon interest at the rate of 11% per annum payable
monthly and are redeemable in structured monthly instalments commencing from 28 February 2027, with final redemption
scheduled on 28 February 2029. The NCDs have been accounted for in accordance with the requirements of Ind AS 109 -
Financial Instruments using the amortised cost method and effective interest rate (“EIR”) approach. The effective interest
rate computed based on contractual cash flows and transaction structure is approximately 16.4596% per annum. The
Company has classified and presented the said borrowings in the financial statements in accordance with the applicable
provisions of Ind AS and Schedule III to the Companies Act, 2013.
b. Vehicle loans from various banks are secured against hypothecation of vehicles purchased against the loan. The loans are
repayable on monthly instalments as per the terms of loans which are ranging from 36 to 60 months. The interest rates
are varying from 9.3% p.a. to 12.44% p.a.
c. Housing Loan from bank is secured by way of hypothecation of residential apartments and personal guarantee of
promotors. The loans are repayable in 144 installments alongwith interest varing from 6.00 to 9.50% p.a.
24.1 Details of Security
Working capital facilities from the banks (fund based and non fund based) secured by first pari passu charge over entire current
assets, Plant & Machinery at Kalyan and Howrah, and immovable property of the Company. The facilities are repayable on
demand alongwith interest ranging from 6% to 9.50% p.a.
24.2 The above secured working capital borrowings are utilised towards meeting day to day cash outflow requirments for liabilities
in normal operating cycle of the business.
Note : On 06th October, 2025, the Company allotted 2,59,88,466 equity shares of ?2 each (fully paid up) as Bonus Shares in the ratio
of 1:1 to shareholders whose names appeared in the Register of Members on 16th September, 2025, being the record date fixed
for the purpose, in accordance with approval of the shareholders by passing special resolution on 26th September, 2025 through
AGM. Accordingly, in accordance with Ind AS 33, Earnings per share, basic and diluted earnings per share have been adjusted for
preceeding previous year to reflect the bonus issue.
43 LEASES
a) The Company has certain leasehold land under finance lease arrangements for 99 years which has been reclassified from
Property, Plant & Equipment to Right of Use Assets.
b) The Company also has certain leases of buidling with lease terms of 12 months or less. The Company applies the 'Short
term lease' recognition assumption for these leases.
44 DISCLOSURE PURSUANT TO INDIAN ACCOUNTING STANDARD - 19 ‘EMPLOYEE BENEFITS’
AS NOTIFIED U/S 133 OF THE COMPANIES ACT, 2013 READ WITH RULE 7 OF COMPANIES
(ACCOUNTS) RULES, 2014.
44.1 Defined Contribution Plan:
44.1.1 Provident Fund & Employee's State Insurance Contribution
Provident Fund as per the provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952.
Employee State Insurance contribution as per the provisions of the Employees State Insurance Act, 1948.
44.1.2 The amount recognized as an expense for the Defined Contribution Plans are as under:
44.2 Defined Benefit Plan:
The following are the types of defined benefit plans
44.2.1 Gratuity Plan
Every employee who has completed five years or more of service is entitled to Gratuity as per the provisions of the
Payment of Gratuity Act, 1972. The present value of defined obligation and related current cost are measured using
the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.
44.2.2 Risk Exposure
Through its defined benefit plans, the company is exposed to a number of risks, the most significant of which are
detailed below:
44.2.8 Asset-Liability Matching Strategy
The Company’s investment are being managed by Life Insurance Company and at the year end interest is being
credited to the fund value. The company has not changed the process used to manage its risk from previous periods
. The Company’s investment are fully secured and would be sufficient to cover its obligations.
44.2.10 The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors, such as supply and demand in the employment market.
44.2.11 At 31st March 2026 the weighted average duration of the defined benefit obligation was 11 years (previous year
11 years). The distribution of the timing of benefits payment i.e., the maturity analysis of the benefit payments is as
follows:
44.2.12 Sensitivity Analysis
The sensitivity analysis below have been determined based on a method that extrapolates the impact on defined
benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.
Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other
assumptions constant, would have affected the defined benefit obligation by the amounts shown below:
Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does
provide an approximation of the sensitivity of the assumptions shown.
45 CORPORATE SOCIAL RESPONSIBILITY
As per provisions of section 135 of the Companies Act, 2013, the Company has to incur at least 2% of average net profits of
the preceding three financial years towards Corporate Social Responsibility (“CSR”). Accordingly, a CSR committee has been
formed for carrying out CSR activities as per the Schedule VII of the Companies Act, 2013.Details are as under:
* Post-employment benefits and other long-term benefits related to KMPs is being disclosed based on actual payment
made on retirement /resignation of services, but does not includes provision made on actuarial basis as the same is
available for all employees together. Further, in view of applicability of such benefits only to CFO & CS of the Company,
the amount of provision made on actuarial basis are not significant considering the nature of operation and size of the
Company.
Terms and Conditions of transactions with Related Parties:
(i) The sales and purchases transaction with related parties are made in the normal course of business and on terms
equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured
and interest free and settlement occurs in cash.
(ii) For the year ended March 31, 2026, the Company has not recorded any impairment of receivables relating to
amounts owed by related parties. This assessment is undertaken each financial year through examining the financial
position of the related party and the market in which the related party operates.
(iii) The remuneration of Directors is determined by the Nominations & Remuneration Committee having regard to the
performance of individuals and market trends.
48.2 The management assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, current
borrowings, current loans and other financial assets & liabilities approximates their carrying amounts largely due to the
short-term maturities of these instruments.
48.3 The management considers that the carrying amounts of Financial assets and Financial liabilities recognised at nominal
cost/amortised cost in the Financial statements approximate their fair values.
48.4 Non current borrowings has been contracted at floating rates of interest, which are reset at short intervals. Fair value of
floating interest rate borrowings approximates their carrying value subject to adjustments made for transaction cost.
49 FAIR VALUE HIERARCHY
The following are the judgements and estimates made in determining the fair values of the financial instruments that are
(a) recognized and measured at fair value and (b) measured at amortized cost and for which fair value are disclosed in the
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company
has classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113 "Fair
Value Measurement". An explanation of each level follows underneath the table.
49.1 Assets and Liabilities measured at Fair Value - recurring fair value measurements
49.1.1 During the year ended March 31,2026 and March 31, 2025, there were no transfers between Level 1 and Level 2
fair value measurements, and no transfer into and out of Level 3 fair value measurements.
49.2 Explanation to the Fair Value hierarchy
The Company measures Financial instruments, such as, unquoted investments and mutual funds/bonds at fair value
at each reporting date. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. All assets and liabilities for which fair value
is measured or disclosed in the financial statements are categorised within the fair value hierarchy based on the lowest
level input that is significant to the fair value measurement as a whole. The valuation of unquoted shares have been made
based on level 3 inputs as per the hierarchy mentioned in the Accounting Policies. The valuation of unquoted equity
instrument have been valued based on the valuation technique applicable.The valuation of mutual funds/bonds have
been valued at the market value as at balance sheet date.
50 FINANCIAL RISK MANAGEMENT
Financial management of the Company has been receiving attention of the top management of the Company. The management
considers finance as the lifeline of the business and therefore, financial management is carried out meticulously on the basis of
detailed management information systems and reports at periodical intervals extending from daily reports to long-term plans.
Importance is laid on liquidity and working capital management with a view to reduce over-dependence on borrowings and
reduction in interest cost. Various kinds of financial risks and their mitigation plans are as follows:
50.1 Credit Risk
The credit risk is the risk of financial loss arising from counter party failing to discharge an obligation. The credit
risk is controlled by analysing credit limits and credit duration for customers on continuous basis. Further, in order
to manage the credit risk, the security deposits are obtained from customers where ever considered necessary.
On account of adoption of Ind AS 109, the Company uses an expected credit loss model to assess the impairment loss.
The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables.
50.2 Liquidity Risk
The Company determines its liquidity requirement in the short, medium and long term. This is done by drawing up cash
forecast for short term and long term needs.
The Company manage its liquidity risk in a manner so as to meet its normal financial obligations without any significant
delay or stress. Such risk is managed through ensuring operational cash flow while at the same time maintaining adequate
cash and cash equivalent position. The management has arranged for funding from banks and inter corporate and adopted
a policy of managing assets with liquidity monitoring future cash flow and liquidity on a regular basis. Surplus funds not
immediately required are invested in certain fixed deposits which provides flexibility to liquidate.
* represents actual unamortised contractual cash outflows.
(C) The amounts are gross and undiscounted, and include contractual interest payments and exclude the impact
of netting agreements (if any). The interest payments on variable interest rate loans in the tables above reflect
market forward interest rates at the respective reporting dates and these amounts may change as market
interest rates change. Except for these financial liabilities, it is not expected that cash flows included in the
maturity analysis could occur significantly earlier, or at significantly different amounts. When the amount
payable is not fixed, the amount disclosed has been determined with reference to conditions existing at the
reporting date.
50.3 Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises of Foreign Exchange Risk and Interest Rate Risk.
50.3.1 Foreign Exchange Risk
The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign
exchange rates.
The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s
Financial Assets and Financial Liability towards Trade receivables and Trade Payables denominated in foreign
currency. In view of low proportion of export and import, as compared to the overall operations, the exposure
of the Company to foreign exchange risk is insignificant and thus Company does not enter into any derivative
financial contracts.
(a) Unhedged Foreign Currency exposure
The Company’s exposure to foreign currency at the end of the reporting period expressed in Rs. In Lacs is
as follows
50.3.2 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 rates. The company's exposure to the risk of changes in market interest rate relates
primarily to company's borrowing with floating interest rates.
The Company’s main interest rate risk arises from long-term borrowings and short term borrowings with variable
rates, which expose the Company to cash flow interest rate risk. During March 31, 2026 and March 31, 2025 ,
the Company’s borrowings at variable rate were denominated in Indian Rupee (INR).
51 CAPITAL MANAGEMENT
The Company objective to manage its capital is to ensure continuity of business while at the same time provide reasonable
returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is
reviewed periodically with reference to operating and business plans that take into account capital expenditure and strategic
investments. Sourcing of capital is done through judicious combination of equity/internal accruals and borrowings, both short
term and long term. Net debt (total borrowings less cash and cash equivalents) to equity ratio is used to monitor capital.
53 ADDITIONAL REGULATORY REQUIREMENTS SCHEDULE III:
53.1 The Company have not traded or invested in crypto currency or virtual currency during the current or previous year.
53.2 The Company have 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:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the Company (ultimate beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
53.3 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 Group shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the funding party (ultimate beneficiaries) or
b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
53.4 The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during theyear in thetax assessments underthe Income TaxAct,1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961”.
53.5 The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in accordance
with the guidelines on wilful defaulters issued by the Reserve bank of India.
53.6 The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year
53.7 The Company has not revalued its Property, Plant & Equipment during the Current or Previous year
53.8 No proceedings has 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 there under.
53.9 As per the information available with the management , the Company does not have any transactions with Companies
stuck offunder Section 248 ofthe Companies Act 2013 or Section 560 ofthe Companies Act 1956, in respect ofInvestments in
Securities, Receivables, Payables, Shares held by Stuck off Company and other outstanding balances.
54 Additional Disclosure :
The trade receivables, trade payable, other receivables, loans and advances and deposits are subject to confirmation
reconciliation to be received from the parties. There will not be material changes on account of such reconciliation/ confirmation
from parties.
55 Previous year's figures have been regrouped / reclassified whenever necessary to correspond with the current year's
classification / disclosure. Accordingly amounts and other disclosures for the preceeding year are included as an integral part
of the current year Financial Statements and are to be read in relation to the amounts and other disclosures relating to the
current year.
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