g) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when the enterprise has a present obligation (legal or constructive)
as a result of a past event and it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation, in respect of which a reliable estimate can be
made. These are reviewed at each balance sheet date and adjusted to reflect the current
management estimates.

If the effect of the time value of money is material, provisions are determined by discounting
the expected future cash flows specific to the liability. The unwinding of the discount is
recognized as finance cost.

Contingent Liabilities are disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company.

A contingent asset is a possible asset that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events
not wholly within the control of the entity. Contingent Assets are not recognized till the
realization of the income is virtually certain. However, the same are disclosed in the financial
statements where an inflow of economic benefit is probable.

h) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to
the Company and the revenue can be reliably measured. Revenue is measured at the fair value
of the consideration received or receivable, taking into account contractually defined terms of
payment and excluding taxes or duties collected on behalf of the government.

Sale of goods

Revenue from sale of goods is recognized when significant risks and rewards of ownership in
the goods are transferred to the buyer.

The Company recognizes revenues on the sale of products, net of returns, discounts, sales
incentives/rebate, amounts collected on behalf of third parties (such as sales tax) and
payments or other consideration given to the customer that has impacted the pricing of the
transaction.

Accumulated experience is used to estimate and provide for the discounts and returns. No
element of financing is deemed present as the sales are made with normal credit days
consistent with market practice.

Royalty & Technical Fees - Royalty is recognized on accrual basis in accordance with the

substance of the relevant agreement.

Interest income -Interest on Deposits is recognized on time basis

Dividend income -Dividends are recognized in profit or loss on the date on which the
Company’s right to receive payment is established

i) Employee Benefits

i) Short-term Employee benefits

Liabilities for wages and salaries including non-monetary benefits that are expected
to be settled wholly within twelve months after the end of the period in which the
employees render the related service are classified as short-term employee benefits
and are recognized as an expense in the Statement of Profit and Loss as the related
service is provided. A liability is recognized for the amount expected to be paid if
the Company has a present legal or constructive obligation to pay this amount as a
result of past service provided by the employee and the obligation can be estimated
reliably.

ii) Long Term Employee Benefits

• Defined Contribution Scheme: The benefit includes contribution to EPF
(Employee Provident Fund), ESI etc. The contribution is recognized during the
period in which the employee renders service.

• Defined Benefits Plan: Provision for gratuity liability is made on the basis of
premium actuarially assessed at the end of the period and intimated by the Life
Insurance Corporation of India in terms of a policy taken with them.

j) Income Tax

Income tax expense/income comprises current tax expense income and deferred tax
expense income. It is recognized in profit or loss except to the extent that it relates to
items recognized directly in equity or in OCI. In which case, the tax is also recognized
directly in equity or other comprehensive income, respectively.

Current Tax

Current tax comprises the expected tax payable or recoverable on the taxable profit or
loss for the year and any adjustment to the tax payable or recoverable in respect of
previous years. It is measured using tax rates enacted or substantively enacted by the end
of the reporting period. Management periodically evaluates positions taken in tax returns
with respect to situations in which applicable tax regulation is subject to interpretations
and establishes provisions where appropriate.

• Current tax assets and liabilities are offset only if, the Company has a legally
enforceable right to set off the recognized amounts; and intends either to settle on a
net basis, or to realize the asset and settle the liability simultaneously.

Deferred Tax

Deferred Income tax is recognized in respect of the temporary difference between the
carrying amount of assets and liabilities for financial reporting purposes and the amount
considered for tax purpose.

Deferred tax assets are recognized for unused tax losses, unused tax credits and
deductible temporary differences to the extent that it is probable that future taxable
profits will be available against which they can be utilized. Deferred tax assets are
reviewed at each reporting date and are reduced to the extent that it is no longer probable
that sufficient taxable profit will be available to allow the benefit of part or all of that
deferred tax asset to be utilized; such reductions are reversed when it becomes probable
that sufficient taxable profits will be available.

Unrecognized deferred tax assets are reassessed at each reporting date and recognized to
the extent that it has become probable that future taxable profits will be available against
which they can be recovered.

Deferred tax is measured at the tax rates that are expected to be applied to temporary
differences when they reverse, using tax rates enacted or substantively enacted by the end
of the reporting period.

The measurement of deferred tax assets and liabilities reflects the tax consequences that
would follow from the manner in which the Company expects, at the reporting date, to
recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset only if:

i) the entity has a legally enforceable right to set off current tax assets against
current tax liabilities; and

ii) the deferred tax assets and the deferred tax liabilities relate to income taxes levied
by the same taxation authority on the same taxable entity.

k) Foreign Currency Transactions

i) Functional and Presentation currency The Company’s financial statements are
prepared in Indian Rupees (INR “'”) which is also the Company’s functional
currency.

ii) Transactions and balances :

Foreign currency transactions are recorded on initial recognition in the functional
currency using the exchange rate at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated
into the functional currency at the exchange rate at the reporting date. Non¬
monetary items that are measured based on historical cost in a foreign currency
are translated using the exchange rate at the date of the initial transaction. Non¬
monetary items that are measured at fair value in a foreign currency are
translated using the exchange rate at the date the fair value is determined.

Exchange differences arising on the settlement or translation of monetary items
are recognized in profit or loss in the year in which they arise except for the
qualifying cash flow hedge, which are recognized in OCI to the extent that the
hedges are effective.

l) Government grants

Government grants, including non-monetary grants at fair value are recognized when
there is reasonable assurance that the grants will be received and the company will
comply with all the attached conditions.

When the grant relates to an expense item, it is recognized as income on a systematic
basis over the periods necessary to match them with the costs that they are intended to
compensate.

Government grants relating to purchase of property, plant and equipment are included in
non-current liabilities as deferred income and are credited to the profit and loss on a
straight-line basis over the expected lives of the related assets

m) Dividend

The Company recognizes a liability for any dividend declared but not distributed at the
end of the reporting period, when the distribution is authorized and the distribution is no
longer at the discretion of the Company on or before the end of the reporting period. As
per Corporate laws in India, a distribution is authorized when it is approved by the
shareholders. A corresponding amount is recognized directly in equity

n) Earnings Per Share

Basic earnings per share is calculated by dividing the profit or loss for the period
attributable to the equity shareholders by the weighted average number of equity shares
outstanding during the period.

For the purpose of calculating diluted earnings per share, the profit or loss for the period
attributable to the equity shareholders and the weighted average number of equity shares
outstanding during the period is adjusted to take into account:

• The after-income tax effect of interest and other financing costs associated with
dilutive potential equity shares, and

• Weighted average number of additional equity shares that would have been
outstanding assuming the conversion of all dilutive potential equity shares.

o) Payment to Auditors for services rendered: -

Current Previous

Year Year

a) As Statutory Auditor - -

b) Other Services - -

p) Balance of Sundry receivables and payables are subject to formal confirmation. All
sundry debtors are unsecured but considered good by the management to the extent of
their book value.

q) Estimated amount of capital contracts remaining to be executed not provided for net of
advances: - Rs. NIL (Last year NIL)

r) Claims against the company not acknowledged as debts - Nil.

s) Cash Flow Statement:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted
for the effects of transactions of a non cash nature, any deferrals or accrual of past or
future operating cash receipts and payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the concern are segregated.

t) Title Deeds of property:

The title deeds of all the immovable properties (other than properties where the company
is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed
in the financial statements are held in the name of the company.

u) Details of Benami Property Held:

There are no proceedings have been initiated or are pending against the company for
holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45
of 1988) and rules made thereunder.

v) Willful Defaulter:

The company is not declared willful defaulter by any bank or financial institution or other
lender.

w) Relationship with Struck off Companies:

The company has no any transaction with the companies struck off u/s 248 of the
Companies Act, 2013.

x) Registration of Charges with Roc:

There are no charges or satisfaction of charges yet to be registered with ROC.

y) Loans and Advances:

No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013,) either severally or jointly
with any other person, that are repayable on demand or without specifying any terms or
period of repayment.

3.1 The disclosure of transactions with the related parties is given below:

(i) Hargovind Sutariya Key Managerial Personnel (MD)

(ii) Nirmal Patel Key Managerial Personnel (CFO)

(iii) Sanju Choudhary Company Secretary

Terms and conditions of transactions with related parties: NIL

There have been no guarantees provided or received for any related party receivables and
payables for the year ended March 31, 2025 and for the year ended March 31, 2024.

3.6 No amount remained due to Micro and Small Enterprises as defined in the “The Micro, Small
and Medium Enterprise Development Act, 2006” as identified on the basis of information
collected by the management.

3.7 The Company has re grouped and re-classified the previous year’s figures in accordance with
the requirements applicable in the current year. In view of this, certain figures of the current
year are not strictly comparable with those of the previous year.

3.8 Notes 1 to 17 form an integral part of accounts.

ADDITIONAL DISCLOSURES:

(i) Previous year figures have been regrouped and reclassified wherever necessary.

(ii) Expenditure and earning in foreign currency: Nil

(iii) Expenditure incurred on employees who are in receipt of remuneration which is less than the
prescribed limit. for the year,

(iv) In the opinion of the board the value on realization of current assets and loans and advance in
ordinary course of business will not be less than the amount at which they are stated in the
balance sheet.

(v) All amounts in the financial statements are presented in Lakhs except per share data and as
otherwise stated.

(vi) Amount due from / to various parties, Trade receivables, unsecured loans from directors and
other debit & credits balances as on 31.03.2025 are subject to confirmation and reconciliation.

(vii) The closing stock of land is taken at cost price except that no other inventories are there as on
31.03.2025.

(viii) Undisclosed Income:

Company does not have any transactions 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). Also, there are nil previously unrecorded income and related assets.

(ix) Details of Crypto Currency or Virtual Currency:

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

(x) Figures have been rounded off to the nearest Rupee.

(xi) There is no any amount payable to the suppliers of Micro, Small and Medium Enterprises as
on March 31, 2025. Hence no need of disclosure as per Micro, small and Medium Enterprises
development Act, 2006.

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

Directors of
SATIATE AGRI LIMITED
(Formerly known as Shaba Chemicals
Limited)

FOR D G M S & CO.

Chartered Accountants

sd/- sd/- $£/-

Mphit Ja in Nurnal Pa tel Jay eshbhai Popatbhai Pa tel

Partner CFO Director

Chartered Accountant DIN: 10004196

M.SQ, 547930

Date29-05-2025 sd/- $£/-

Place:- Jamnagar KMdidas Pusbpaben Parashmam Patel

Mpshriya

Director Director

DIN : 10004197 DIN : 10163595

Date:-28-05-2025
Place:- Jamnagar