J) Provisions :

Provisions are recognised when the Company has a present obligation as a result of past
events, for which it is probable that an outflow of resources embodying economic benefits
will be required to settle the obligation and a reliable estimate of the amount can be
made.

K) Cash flow statement:

Cash flows are reported using the indirect method, whereby loss before extraordinary
items and tax 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
nature of activities.

L) Cash and Cash Equivalents :

Cash and Cash equivalents includes cash and cheque on hand, demand deposits with
banks, fixed deposits and other short term highly liquid investments with original
maturities of three months or less.

M) Foreign Currency Transactions :

Transactions in foreign currencies are recorded in Indian Rupees using the rates of
exchange prevailing on the dates of the transactions. At each balance sheet date,
recorded monetory balances are reported in Indian Rupees at the rates of exchange
prevailing at the balance sheet date. All realised and unrealised exchange adjustment
gains and losses are dealt with in the profit and loss account.

N) Employee Benefits :

Employee benefits payable wholly within twelve months of the end of the reporting period
are classified as short term employee benefits and are recognized as the employee
renders service on an undiscounted basis. Contribution to Defined Contribution Scheme
such as Provident Fund is charged to Statement of Profit and Loss as incurred. The
Company also provide for retirement/ post retirement benefits in the form of gratuity. For
current period, the company has provided gratuity provision based on Acturial valuation.

As regards Leave Encashment, as per existing policy of the company, the employees are
not entitled to accumulate such leave and therefore provision is not considered.

(a) The current ratio has decreased due to increase in current liability as compared to current assets
over previous year.

(b) The Debt Equity ratio has increased due to increase in term liabilities against fixed assets.

(c) The Debt Service Coverage ratio has decreased due to increase in finance cost and decrease in
earning before interest and tax as compared to previous year.

(d) The Return of Equity has decreased due to increase in shareholders's fund and decrease in
earning available to equity shareholders.

(e) The Inventory turnover Ration has decreased due to increase in cost of goods sold as compared to
average inventory.

(f) The Trade Payable Turnover Ratio has increased due to increase in purchase of goods as
compared to previous year.

(g) The Net Profit ratio has decreased due to increase in raw material cost, employee cost, finance
cost and other expenses in current year as compared to previous year.

(h) The Return on Capital Employed has decreased due to decrease in earnings due to increase in raw
material cost, employee cost, finance cost and other expenses and increase in capital employed in
current year as compared to previous year.

(i) The Return on investment in decreased due to decrease in profit after tax and increase in fixed
assets in current year as compared to previous year.

37 The Company has entered in Plywood Boards manufacturing business w.e.f. 1stJune,2024 during the
year. The Company is operating in Speciality Chemicals-Adhesives and Plywood Boards segments and
reporting as per Accounting Standard -17 (AS-17 Segment Reporting) issued by ICAI, is disclosed as
under:

The above information regarding dues to Micro and Small Enterprises has been determined to the
extent such parties have been identified on the basis of information available with the Company. This
has been relied upon by the auditors.

39 The Parliament of India has approved the Code of Social Security, 2020 (the Code) which may impact
the contributions by the Company towards provident fund, gratuity and ESIC. The Code has been
published in the Gazette of India however; the effective date has not yet been notified. The Company
will assess the impact of the Code when it comes into effect and will record any related impact in the
period the Code becomes effective, if any.

40 Other Statutory Information:

a) The Company does not have any benami property held in its name. No proceedings have been
initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

b) The company has not been declared as a wilful Defaulter by any Financial Institution or bank as at
the date of Balance Sheet.

c) There are no transactions and / or balance outstanding with companies struck off under section
248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the current and
previous financial year.

d) The Company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.

e) The company does not have any investments through more than two layers of investment
companies as per section 2(87) (d) and section 186 of Companies Act, 2013.

f) There are no Schemes of Arrangements that have been approved by the Competent Authority in
terms of sections 230 to 237 of the Companies Act, 2013.

g) The company has used the borrowings from banks and financial institutions for the specific
purpose for which it was taken at the balance sheet date. There are no discrepancy in utilisation
of borrowings.

h) No funds have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) by the Company to or in other person(s) or
entity(ies), including foreign entities (intermediaries) with the understanding, whether recorded in
writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of
the Company.

i) The Company has not received any fund from any party(s) (funding Party) with the understanding
that the Company shall whether , directly or indirectly lend or invest in other persons or entities
identified by on behalf of the Company (ultimate beneficiary) or provide any guarantee, security
or like on behalf of the ultimate beneficiaries.

j) The Company has not traded or invested in Crypto currency or Virtual Currency during the
financial year.

k) The Company does not have any transactions which are not recorded in the books of accounts
that have 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)

41 Previous Year figures have been re-grouped and re-arranged wherever necessary to confirm to the
current year presentation.

Signatures to Notes 1 to 41 forming part of Balance Sheet and Profit and Loss Account.

As per our attached report of even date

For, P. D. Goinka & Co. For and on behalf of the Board of Directors

FRN-103260W
Chartered Accountants

Chandresh S. Saraswat Santosh Kumar Saraswat
Managing Director Director

CA Pankaj Goenka DIN: 01475370 DIN: 00236008

Partner

M. No. 110986

Place : AHMEDABAD Arpit Thakkar Lokeshkumar Edival

Date: 27th May, 2025 Company Secretary & Chief Financial Officer

UDIN : 25110986BMKWGF6805 Compliance Officer

Place : AHMEDABAD Date: 27th May, 2025