1. Company Overview

M/S Castex Technologies Limited (hereinafter referred to as CTL) was previously known as Amtek India Limited. The Company has changed its name from Amtek India Ltd to Castex Technologies Limited w.e.f. from 26.05.2015. Since, the word "Castex" reflects the expertise of the Company in manufacturing of Casting components, the Board decided to change the name.

Castex Technologies Limited (hereinafter referred to as "CTL" or "the Company") established in 1983, is engaged in the manufacturing of machined and casting components. The company has Iron casting facilities at Bhiwadi (Rajasthan) and machining facilities at Gurugram (Haryana),Palwal (Haryana) and Solan (Himachal Pradesh).

The Product portfolio includes highly engineered components including cylinder head, cylinder blocks and turbo charger housing.

CTL is a major supplier to OEMs for passenger cars, light and heavy commercial vehicles and tractors, in the casting segment; and passenger cars, light and heavy commercial vehicles, 2/3 wheelers and tractors in the machining segment.

Major customers of the company include Maruti Udyog Ltd., TATA Motors, New Holland Tractors, Hyundai Motors, ITL, Eicher Motor, Bajaj, TVS etc. and also refrigeration industries like LG Electronics.

Company has its Registered Office at Village -Narsinghpur, Mohammadpur, Old Manesar Road, Gurugram, Haryana and Corporate Office at 3, Local Shopping Centre, Pamposh Enclave, G.K.-1, New Delhi.

Considering the ongoing corporate insolvency resolution process, the uncertainity as to the realisation of unused tax losses cannot be ascertained at this stage. Consequently, adjustments to defered tax (net) have not been given effect to, during the period. Further, deferred tax asset (net) for the year ended 31 March 2018 has not been recognised in the books of accounts.

Deferred Tax Assets and Deferred Tax Liabilities have been offset wherever the company has legally enforceable right to set of current tax assets against current tax liabilities and wherever the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority.

*Including advances to supplier, prepaid expenses, and balances with Revenue Authorities. Staturoty receivable are subject to confirmation.

**Represents Items of Inventory items for which the management is in process of getting Technical/Commercial/Market evaluation.

Note No: 2. Rights, preferences and restrictions attached to Shares

Equity Shares: The Company has Issued equity shares having a par value of Rs 2/- per share. Each shareholder is eligible to one vote per share held.

The Company declares and pays dividends in Indian rupees. The dividend, if proposed by the Board of Directors, is subjected to the approval of the shareholders in the Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity share held by the shareholders.

Preference Shares: The Company currently has Issued 0.1% non cumulative redeemable preference shares of Rs 100/each. Preference shares will be redeemed after 15 years from the date of allotment at such premium as may be decided by the board of directors, subject to minimum equivalent to issue price.

i) Since all term loans have become payable on demand in view of defaults in repayment of instalments/part of interest, entire term loan has been shown as current liabilities.

ii) Interest on borrowing upto the date of 20th December 2017, the date on which IRP was appointed.

iii) Terms debts are secured by mortgage/hypothication of movable and immovable assets of the company.

Note No : 3

The significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument are disclosed in the financial statements.

Fair value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 — Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 — Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

The financial instruments included in Level 2 of fair value hierarchy have been valued using quotes available for similar assets and liabilities in the active market. The investments included in Level 3 of fair value hierarchy have been valued using the cost approach to arrive at their fair value. The cost of unquoted investments approximate the fair value because there is a range of possible fair value measurements and the cost represents estimate of fair value within that range.

The following table summarises financial assets and liabilities measured at fair value on a recurring basis and financial assets that are not measured at fair value on a recurring basis (but fair value disclosure are required):

Note No. 4 Financial risk Management objectives and policies

The Company's principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations and to support its operations. The Company's financial assets include investment, loans, trade and other receivables, and cash & cash equivalents that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk, Considering on-going CIRP process, quantum of these risks are not ascertainable.

Note No: 5

The Previous period figures have been regrouped / reclassified, wherever considered necessary to conform to the current year presentation.