f) Taxation
Current Income Tax: - Tax on Income for current period is NIL and MAT provision
applicable u/s. 115 is NIL for the year due to carried forward losses
g) Deferred Tax: - Deferred Tax Asset remaining in books has not been written off
during the year as the management considers that it will be made good in the
coming years. Based on prudence and considering reasonable certainty of availability
future taxable income after setting of the existing losses no additional adjustment
on deferred tax has been made for the current year. In accordance with above, no
adjustments of Deferred taxes were made during the year for the timing differences.
h) Foreign currency transactions are accounted at the prevailing rates on the date of
transaction and exchange rate differences onmonetary assets and liability as on
closing date are dealt in the Profit & Loss Account wherever material.
i) Cash Flow Statement
Cash Flows are reported using the Indirect Method, whereby net profit before tax is
adjusted for the effect of transactions of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments
** Loan from/ Liability to others represent amount payable to Erstwhile Director of the company
incurred at the time when he was a Director of the company. As per clause 2(1)( C ) (viii) of
Companies (Acceptance of Deposits) Rules, 2014, the said amout is outside the purview of definition
of "Deposits" and therefore provisions of Section 74 of Companies Act 2013 is not applicable.
The Comoany has granted laon under Guaranted Emergecy Credit Line Scheme with reapyment over
*** 33 Equated Monithly isntlaments starting from July 2024 . The amount has been split into curent and
Non curret portion
Note 29: Segment reporting_
The company has only one segment. The company's opertion predominently related to processing and exporting of marine
products and has disclosed exports as its primary segment. Since the income on account of other activities are only
incidental to the main business of seafood export and does not individually contribute to 10% or more of the total revenue
receipts as per IND AS - 108, separate segment reporting is not applicable. Local turnover is not significant in total
turnover.Segment has been identified in time with IND AS 108 on Segment Reporting.
35. Employee Benefit Obligation
The Company provides for gratuity, a defined benefit gratuity plan covering eligible employees. Obligation
with regard to the gratuity plan is determined by an independent actuarial valuation on the reporting
date. The liability for the same is not funded against plan assets.
41. Provision for gratuity liability has been made on the basis of independent actuarial valuation, and the
same is not funded. As the company was hither to carrying business loss of earlier years, and shortage in
working capital, the company has not funded defined benefit plans as mandated in IND AS 19 'Employees
Benefit' The Company is not providing liability to leave encashment, as per policy of the Company no leave
can be carried forward
46. Additional Regulatory Information
i) The Title deeds pertaining to the immovable properties (except properties which are leased by the
company with duly executed agreements
statements are held in the nameof the company.j n the company's favour) disclosed in the financial
ii) The Company has not revalued any of its Plant, Property and Equipment's or intangible assets
during the year.
iii) The Company has not granted any loans or advances in the nature of loans to promoters, Directors,
KMPs. The Company has given trade advances to its wholly owned subsidiaries. In the case of
advances to related party, Interest is charged on the outstanding balances.
iv) The Company does not have any Benami property, and no proceeding has been initiated or pending
against the Company for holding any Benami property under the Benami Transactions (Prohibition)
Act, 1988 and rules made thereunder.
v) The company keeps inventory based on the availability of raw materials especially deep sea prawns
, and keep them in frozen form . The inventories are physically verified by the management during
the year and is found in good condition and are saleable in the normal course of business depending
on the export orders and all the items in inventory are within the shell life of the products.
vi) The Company has not been declared a willful defaulter by any bank or financial institution or
government or government authority.
vii) The Company do not have any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act 1956
viii) The Company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period other than that of vehicle purchased on Hire Purchase basis where
agreement is not obtained.
ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of
the Act read with the Companies (Restriction on number of Layers) Rules, 2017. There are no
relationship / extent of holding of the company in companies beyond the specified layers and the in
such downstream companies.
x) There are no scheme of arrangement approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013 during the year and so there is no effect is required to be
given in books of accounts the company.
xi) The Company has not advanced or loans or invested funds to any other persons or entities,
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the Company (Ultimate Beneficiaries) or
(b) provide any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.
xii) The Company has not received any fund from any persons or entities, including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the
Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
xiii) The Company has not traded or invested in Cryptocurrency or Virtual Currency during the year
ended March 31, 2025.
xiv) The Company does not have any such transaction which is not recorded in the books of accounts
that has been surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax
Act, 1961).
xv) There are no material uncertainty exists related to events or conditions that may cast significant
doubt on the Company's ability to continue as a going concern. The Company will continue as a
going concern and is able to meet its liabilities as and when it is due and is able to realise the assets
in the ordinary course of the business of the Company.
xvi) The Company uses an accounting software for maintaining its books of account which has a feature
of recording audit trail (edit log). But it is not maintained for changes to certain records and changes
made by certain users with specific access and the company uses a different software for recording
transactions of inventory, wherein the audit trail (edit log) facility is not maintained
47. The standalone financial statements were authorized for issue in accordance with a resolution passed
by the Board of Directors on 30.05.2025
For and on behalf of the Board of Directors As per our report of even date attached
For ]i €C^M&socM!&m
Chartered Accountants
Anush K. Thomas Nithya Alex FRN: 010560S
Managing Director Director
DIN:01254212 DIN:02191256
CA. Jobby George
Partner (M. No.211174)
Sajeesh Kurian P Bindu Suresh M UDIN: 25211174BMKSHH5439
Company Secretary Chief Financial Officer
M.N. A56562
Place: Kochi
Date: 30/05/25
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