Terms/Rights attached to Shares :

Each holder of Equity Shares of face value of Rs.10 each is entitled to one vote per share. The dividend is declared and paid on being proposed by the Board of Directors after the approval of the Shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company the holders of equity shares will be entitled to remaining assets of the company after or distribution of all liabilities. The distribution to equity share holders will be in proportion to the number of Equity Shares held by the Shareholders.

988839 Shares were alloted as Bonus Shares in the Last Five years by capitalized of security premium and retained earnings.

The Company made provision for gratuity liability which is un funded.The scheme provides forpayment to vested employees atretirement, death while in employment or on termination of employment of an amount equivalent to 15 days salary payable for eachcompleted year of service or part thereof in execess of six months. Vesting occurs upon completion of five years of service.

The present value of the defined benefit obligation and th related current service cost were measured using the Projected Unit Credit method as per actuarial valuation carried out at the balance sheet date.

The following tables sets out the status of the gratuity plan as required under AS-15 and the amounts recognized in the company'sfinancial statements as at 31st March, 2024.

The Company does not hold any Benami Properties. No proceedings have been initiated or are pending against the company for

Note :

holding any benami property under the Benami Transactions (Prohibitions) Act, 1988 and the rules made thereunder.

As at the Balance Sheet date, the company has reviewed the carrying amounts of its assets and found that there is no indication '37' that those assets have suffered any impairment loss. Hence, no such impairment loss has been provided.

The Company has not entered into any transactions with companies struck off under Section 248 of the Companies Act, 2013 or '38' Section 560 of Companies Act, 1956

NOTE : As at the reporting dates, none of the charges or satisfaction of charges are yet to registered with ROC beyond the statutory time

'39' limit.

NOTE : The provisions relating to number of layers prescribed under clause (87) of Section 2 of the Companies Act. 2013 read with

'40'

Companies (Restriction on number of layers) Rules, 2017 are not applicable to the company.

NOTE : The company does not have any scheme of Arrangements approved by the competent Authority in terms of Section 230 to 237 of

'41' Companies Act, 2013. ~

^{NOTE :} There are no transactions that has not been recorded in the books of accounts and has been surrendered or disclosed as income

'⁴²' during the year in the tax asssessments under the Income Tax Act, 1961

NOTE : The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year and comparative

'43' period.

NOTE : There is only one segment " Stainless steel Products" and therefore other disclosure requirement of Accounting Standard 17 for

'44'

Segement reporting does not apply.

NOTE: ‘47’Cash and Cash Equivalent Balance taken is certified by the Management of the Company.

NOTE: ‘48’GST Payable and Receivable booked on the basis of CGST, SGST and IGST act and all working done as per respective act and also follow the requirement of the act. GST Balance is Subject to the reconcilation of Annual GST Return.

NOTE: ‘49’During the financial year company has effectively adjusted its deferred tax liability arised due to

Temporary diffrence by setting off Mat Credit entitiement of Rs. 593.66 Lakh financials appropriatly.

NOTE: ‘50’The company has been granted a Patent as at 2nd June, 2022 & 22nd Dec, 2023 related to ‘Process for Recovery of Gypsum from Stainless Steel ETP Neutralized sludge’ & 'Process for Recovery of Metals from Stainless Steel ETP Neturalized Sludge” respectively. The cost of patents includes directly attributable expenses necessary to prepare the asset for s intended use. During the financial year, company has recognized the cost of patent as metal loss during research and study of patent because themetal loss waste was used for research purpose of the patent which s recognized in current financial year. The total cost of the patents is Rs.1843.46 Lakhs in which metalloss quantity Is considered from the date appication for patent to the approval of patent is considered.

NOTE:’51’The Company has completed the Initial Public Offer (IPO) of 68,64,000 Equity shares of face value of Rs. 10 each at an issue price of Rs. 80 per equity share comprising offer for sale of 7,37,600 equity shares by seling shareholders and fresh issue of 61,26,400 shares. The Equity Shares of our Company were listed on the EMERGE Platform of National Stock Exchange of India Limited (‘NSE EMERGE) on October 4,2023. The Net Proceeds from IPO of Rs. 4901.12 Lakns has been utilised towardsworking capital requirement of Rs. 2700 Lakhs, general corporate purpose of Rs. 523.5 Lakhs, Rs. 443.44 towards Issue Expenses and the balance Rs. 1234.18 Lakhs hasbeen placed as deposits with NBFC's towards Capital Expenditure and General corporate purposes.

NOTE: ‘52’Previous year's figures have been regrouped or rearranged wherever considered necessary.

NOTE: ‘53’ Significant accounting policies and practices adopted by the Company are disclosed in the statement

annexed to these financial statement as Annexure I.