m. Contingent Liabilities

These are disclosed by way of Notes appended to the Balance Sheet. Provision is made in the Accounts
in respect of items which are likely to fructify after the end of the year but before finalization of
accounts to the extent such items have material effect on the position stated in the Balance Sheet.

n. Deferred Revenue Expenses

Product Launching/ Development Expenses, Process know-how Expenses, Amount paid towards
voluntary Retirement Scheme and Debenture Issue Expenses are amortized over a period not exceeding
ten years. The company has been advised that all the expenses have created valuable Technical Know
How and Commercial Rights conducive to the business of the company and therefore entire balance of
deferred revenue expenses has been transferred to Technical Know How and commercial right. The
figures for the previous year have been regrouped wherever necessary to make figures comparable for
the financial year under review. However the figures for the previous year are strictly not comparable
with figures for the financial year under review because during the financial year under review the
company has discontinued manufacturing operations with effect from November 2019 and has disposed
of its industrial undertaking situated at Rakanpur, Ahmedabad.

o. Borrowing costs

Borrowing cost of working capital management is charged against the profit for the year in which it is
incurred. Borrowing cost attributable to acquisition of an asset which takes substantial period of time to
getready for Its intended use is capitalized as part of the cost of such an asset.

p. Accounting for Taxes on Income

Current tax is determined as the amount of tax payable in respect of taxable income for the period.
Deferred tax is recognized, subject to the consideration of prudence in respect of deferred tax assets, on
timing differences, being the differences between taxable income and accounting income that originate
in one period and are capable of reversal in one or more subsequent periods.

1. In compliance with the Accounting Standard relating to Accounting for Taxes on Income - AS 22' issued
by the Institute of Chartered Accountants of India(ICAI), the Company has provided deferred tax Rs.Nil
(Previous Year Rs.Nil ) in the statement of Profit & Loss towards deferred tax liabilities for the year ended
31st March 2024. The Company in view of disposal of the industrial undertaking and having regard to the
exceptional items of gain and loss, is in process of appraising the deferred tax asset/liability and final entry
shall be made in the accounts on ascertaining the amount in respect of deferred tax liability / asset. The
company under the circumstances has written off balance of Rs. Nil/- (Previous year Nil) in the deferred tax
liabilities.

There was a credit balance of Rs.3828.28 (in thousands) as on 1st april 2022 in favor of M/s Kamron
Healthcare Private Limited , a company in which two directors of the company are also directors and the
company had further received Rs. 1260.93 up to

1.31st August 2022 from the said company and accordingly as on 31st August 2022 there was credit balance
of Rs. 508.92 in favour of KHPL. The company on basis of mutual understanding has written of the credit
balance of Rs. 508.92 and transferred to the statement of profit and loss. The company between 1st
September 2022 and 31st

March 2023 received further loan of Rs.452.04 which has been shown as short term borrowings.

NOTE: The management of the company in consultation with the statutory auditors have not determined
remuneration payble to the auditors in view of complete closure of the business. Remuneration on its
determination and approval by the shareholders shall be paid to the statutory auditors.

(Amount in Thousands.)

Notes 17 EARNINGS PER SHARE(EPS):

Earnings per share is calculated by dividing the profit attributable to the equity shareholders by the
weighted average number of equity shares Outstanding during the year, asunder:

Notes18 EMPLOYEE BENEFITS

Contributions are made to Recognized Provident Fund/Government Provident Fund and Family Pension
Fund which covers all regular employees. Contribution is also made in respect to executives to a Recognized

Superannuation Fund. While both the employees and the Company make predetermined contributions to
the Provident Fund, contribution other Family Pension Fund and Superannuation Fund are made only by the
Company. The contributions are normally based on certain proportion of the employee's salary. Amount
recognized as expense in respect of the defined contribution plans, aggregate to Rs. 6.54/- (previous year,
Rs. 79.63/-).

Provisions are made in respect of gratuity based upon management of the company valuation done at the
end of every financial year by the management of the company. Major drivers in management assumptions,
typically, are years of service and employee compensation. Gains and losses on changes in management
assumptions are accounted for in the Statement of Profit and Loss.

The charge on account of provision for gratuity and leave encashment has been included in 'Contribution to
provident fund and other funds' and 'Salaries, wages and bonus' respectively.

Notes forming part of Financial Statements (Contd.) for the year ended 31stMarch 2024
Notes 19 CONTINGENT LIABILITIES

There is no contingent liability as at the end of the financial year under review.

Note: Details of contingent liabilities have been provided on basis of information provided by the
management of the company and without independent verification by the statutory auditors.

Notes 20 RELATED PARTY TRANSACTIONS

Names of the related party and nature of relationship where control exists: -

I. subsidiary company - Nil

II. Associated Company/ Enterprise where common control exists.

1) Centis Lifecare Private Limited (Ceased w.e.f 28-02-2024)

2) Kamron Healthcare Private Limited (Ceased w.e.f 28-02-2024)

For DEEPAK SONI & ASSOCIATES

Chartered Accountants
(FirmRegistrationNo.102250W)

Deepak Soni Sarang B Pathak Hemant Amrish Parikh

(Proprietor) Managing Director Director

Membership No. 31138 (Din: 02663344) (Din: 00027820)

UDIN No.: -24031138BKFSDJ5827

Ahmedabad, Ritu Singh Kuldip A Parekh

Dated, 23 May ,2024 Company Secretary CFO