42. 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'.

43. No amount is due for transfer to Investor Education and Protection Fund in accordance with Sec.125 of
the Companies Act, 2013, as at the end of the year.

44. Cash Flows has been prepared under the ‘Indirect Method' as set out in Ind AS 7, ‘Statement of Cash
Flows'.

45. Segmental Reporting

The Company is engaged in the sale of value of Marine Products. In addition to the export of Marine
products, the company has undertaken domestic sales and also started processing of marine products
belonging to others which is considered as a separate operating segment in accordance with Ind AS 108
on operating segments . The details related to these operating segments to the extent of information that
can be made available are as below.

46. Quarterly financial results are published in accordance with the listing agreements.

47. During the year, company could not achieve the sales volume due to general slowness in the sea food
industry and also cancellation/ postponement of certain orders. The profitability of the company is very
badly effected during the year and company incurred a loss of Rs. 275.21 lakhs for the year ended
31.03.2024. The loss during the year has also affected the liquidity position of the Company to a certain
extent. The company's management is hopeful of realizing its current assets including the stock in hand
from future orders and is hopeful of discharging its liabilities as and when due and is able to continue as a
going concern.

48. Financial Liabilities

During the year the Company has received interest free security deposit of Rs.50 lakhs, which is treated
in accordance with Ind As 109 by applying bank rate of interest for arriving at the present value of
financial obligation . An amount of Rs. 2.37 lakhs as interest expense and Rs. 2.70 Lakhs deferred income
in accordance with the requirements of IND AS 109 on Financial Instruments

50. Additional Regulatory Information

i) The Title deeds pertaining to the immovable properties (except properties which are leased by the
company with duly executed lease agreements in the company's favour) disclosed in the financial
statements are held in the name of the company.

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 has not registered charges on loan sanctioned under Guarantee Emergency Credit
Line (GECL) scheme.

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, 2024.

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.

51. Audit Trail

As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014, for the financial year commencing April 1, 2023, every company which
uses accounting software for maintaining its books of account, shall use only such accounting
software which has a feature of recording audit trail of each and every transaction, creating an
edit log of each change made in the books of account along with the date when such changes
were made and ensuring that the audit trail cannot be disabled.

The Company has used an accounting software for maintaining its books of account which has a
feature of recording audit trail (edit log) facility that has operated throughout the financial year
for all relevant transactions except:

for changes to certain tables where audit trail is not activated as part of default settings of the ERP
vendor. Also the Company is using a different software for recording of stock movement where
the audit trail facility is not been enabled

52. The standalone financial statements were authorized for issue in accordance with a resolution
Passed by the Board of Directors on 11.06.2024.

For and on behalf of the Board of Directors As per our report of even date attached

Sd/- Sd/-

Anush K. Thomas Nithya Alex

Managing Director Director

DIN: 01254212 DIN:02191256 For BSJ & Associates

Chartered Accountants
FRN:010560S

Sd/- Sd/-

Manjusha Mohandas Nair Bindu Suresh M

Company Secretary Chief Financial Officer ^Sd/-

CA. Jobby George
Partner (m. No.2U174)

UDIN: :24211174BKBNJU6226

Place: Vengalam
Date: 11-06-2024