20 Provisions. Contingent Liabilities and Contingent Assets

The Company claims to have no Contingent liability and hence, it is not provided for in the books of accounts. Contingent assets are only
discolsed when it is probable that the economic benefits will flow to the company.

21 Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.

23 Additional Regulatory Information:

(i) The company does not have any immovable property whose title deeds are not in the name of the company.

(ii) The Company has not revalued any of its Property, Plant and Equipments.

(iii) Company has not given any Loans or Advances in the nature of loans to its promoters, directors, key managerial personnel or related parties

(iv) CWIP Ageing Schedule

In absence of any Capital Work In Progress such details are not applicable.

(v) There is no intangible asset under development as at the year-end.

(vi) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) (as amended in 2016) and the rules made thereunder.

(vii) The quarterly statements of current assets filed by the Company with Bank for its borrowings are in agreement with the books of accounts
and there are no material discrepancies therein.

(viii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government
authority.

(ix) The Company does not have any transactions with companies struck off u/s. 248 of the Companies Act, 2013 or u/s. 560 of the Companies
Act, 1956.

(x) The company does not have any charges or satisfaction which is pending to be registered with Registrar of Companies beyond the statutory
period.

(xi) The company does not have any subsidiary and hence, there is no violation with regard to the number of layers prescribed u/s. 2(87) of
the Act r.w. Companies (Restriction on number of Layers) Rules, 2017.

(i) Current Ratio

The current ratio has decreased substantially, since, the company has utilised its cash credit facility with the State Bank of
India in the current year to the extent of ? 13.64 Crores, wehereas, in the preceding year as at the yearend, the said facility
was not utiliised and on the contrary in the said cash credit facility account, the company has the balance of T 14.32 Crores
which was reflected in the 'Cash & Cash Equivalents' i.e. Current Assets in the preceding year, which has mainly contributed
to the decrease in the Current Ratio of the current year as compared to preceding year.

(ii) Trade Receivable Turnover Ratio

The Trade Receivable turnover ratio has increased, since the average trade receivables in the current year has reduced, as
compared to preceding year, whereas, the net credit sales in the current year has gone up as compared to the preceding year,
which has lead to the increase in trade receivable ratio in current year as compared to the preceding yuear.

24 No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

25 Utilisation of Borrowed funds, share premium or any other source or kind of fund:

(A) Company has not advanced or loaned or invested any funds to any person(s) or entity(ies) including foreign entities (Intermediaries) with
the understanding that the Intermediary shall -

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company
(Ultimate beneficieries) or

(ii) provide any guarantee, security or the like to or on behalf of the Untimate Beneficiaries.

(B) Company has not received any funds from any person(s) or entity(ies) including foreign entities (Funding Party) with the understanding
that the company shall -

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoevr by or on behalf of the Funding
Party (Ultimate beneficieries) or

(ii) provide any guarantee, security or the like to or on behalf of the Untimate Beneficiaries.

As per our report of even date

For & on behalf of the Board For DSI & Co.

Bhatia Colour Chem Limited Chartered Accountants

ICAI FRN 127226W

Sd/-

Sd/- Sd/- Sd/- Sd/- ^{Eric Ka}p^adia

Bharat Bhatia Rameshchand Bhatia Sunny Vyaswala Vishwa Patel Partner

Managing Director Wholetime Director Chief Financial Company Membership No. 136712

DIN : 09095082 DIN : 09431185 Officer Secretary UDIN: 25136712BMJIPW6948

Place : Surat Place : Surat

Date : 30-05-2025 Date : 30-05-2025