24. Provisions, Contingent liabilities and Capital Commitments

Provisions are recognized when there is a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each balance sheet date and
are adjusted to reflect the current best estimate.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects,
when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

Contingent liabilities are possible obligations whose existence will only be confirmed by future events not wholly within
the control of the Company, or present obligations where it is not probable that an outflow of resources will be required,
or the amount of the obligation cannot be measured with sufficient reliability. Information on contingent liability is
disclosed in the Notes to the Financial Statements.

Contingent assets are not recognised but disclosed when the inflow of economic benefits is probable. However, when
the realisation of income is virtually certain, then the related asset is no longer a contingent asset, but it is recognised as
an asset.

25. Government Grant

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached
conditions will be complied with.

A government grant that becomes receivable as compensation for expenses or losses incurred in previous period(s). Such
a grant is recognised in profit or loss of the period in which it becomes receivable.

Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the Company
recognises as expenses the related costs for which the grants are intended to compensate.

Government grants related to assets are presented in the balance sheet as deferred income and is recognised in profit or
loss on a systematic basis over the expected useful life of the related assets or other relevant basis.

Government grants by way of financial assistance on the basis of certain qualifying criteria are recognised as they
become receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change in estimate and
the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

26. Revenue Recognition
Sale of Goods and services

Revenue is recognised upon transfer of control of promised goods to customers in an amount that reflects the
consideration which the Company expects to receive in exchange for those goods.

Revenue from the sale of goods is recognised at the point in time when (a) control is transferred to the customer, which is
mainly upon delivery in case of domestic sales and on issuance of Shipping Bill in case of export sales.

Revenue is measured at the fair value of the consideration received or receivable for goods supplied and services
rendered, net of returns, rebates and discounts to customers.

Revenue from the sale of goods excludes amounts collected on behalf of third parties, such as Goods & Services Tax
(GST).

Interest Income

Interest income is accrued on using on a time basis by the effective interest rate with reference to the principal
outstanding.

Dividend Income

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

Export Incentives

Export Incentives are recognised when certainty of receipt is established.

Insurance Claim

Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that the
amount recoverable can be measured reliably and it is reasonable to expect ultimate collection.

Other Income

Other income is accounted for on accrual basis except where the receipt of income is uncertain and in such cases it is
accounted for on receipt basis.

27. Employee benefits

The Company makes contributions to both defined benefit and defined contribution schemes which are mainly
administered through/by duly constit uted and approved Trusts and the Government.

Defined Contribution Scheme

In case of provident fund administered through Regional Provident Fund Commissioner, the Company has no obligation,
other than the contribution payable to the provident fund.

In case of members of constituted and approved trusts, the Company recognises contribution payable to such trusts as an
expense including any shortfall in interest between the amount of interest realised by the investment and the interest
payable to members at the rate declared by the Government of India.

The Company's contributions paid / payable during the year to provident fund administered through Approved Trust,
Regional Provident Fund Commissioner, Superannuation Fund and Employees' State Insurance Corporation are
recognised in the Statement of Profit and Loss as an expense when employees have rendered services entitling them to
contributions.

Defined Benefit Scheme

Gratuity: Cost of providing the Benefit is determined on an actuarial basis at the end of the year and charged to Statement
of Profit and Loss. The cost of providing these benefits is determined by independent actuary using the projected unit
credit method.

Re-measurements, comprising of actuarial gains and losses and the effect of the asset ceiling, (excluding amounts
included in net interest on the net defined benefit liability and return on plan assets), are recognised immediately in the
balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income in the
period in which they occur. It is included in retained earnings in the statement of changes in equity and in the balance
sheet.

Leave encashment: Leave balance as at the end of the calendar year is encashed and balance leaves earned thereafter to
the extent not availed by the employees are provided in the accounts.

28. Research and Development Expenditure

Expenditure on research of revenue nature is charged to Statement of Profit and Loss and that of capital nature is
capitalized as fixed assets.

29. Taxes on Income

Current tax is the amount of tax payable determined in accordance with the applicable tax rates and provisions of the
Income Tax Act, 1961 and other applicable tax laws.

Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and
the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method.
Deferred tax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are
generally recognized for all deductible temporary differences, carry forward tax losses and allowances to the extent that
it is probable that future taxable profits will be available against which those deductible temporary differences, carry
forward tax losses and allowances can be utilised. Deferred tax assets and liabilities are measured at the applicable tax
rates. Deferred tax assets and deferred tax liabilities are off set, and presented as net.

Current and deferred taxes relating to items directly recognised in reserves are recognised in reserves and not in the
Statement of Profit and Loss.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of
adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will

pay normal income tax. Accordingly, MAT is recognised as an deferred tax asset in the Balance Sheet when it is probable
that future economic benefit associated with it will flow to the Company.

30. Dividend Distribution

Dividends paid (including income tax thereon) is recognised in the period in which the interim dividends are approved by
the Board of Directors, or in respect of the final dividend when approved by shareholders.

31. Cash Flow Statement

Cash flows statement is prepared as per the Indirect Method specified in Ind AS 7 on Cash Flows. Cash and cash
equivalents (including bank balances) shown in statement of cash flows exclude item which are not available for general
use on the date of balance sheet.

32. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is
computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary items, if any) as adjusted
for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive
potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per
share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive
potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit
per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the
beginning of the period, unless they have been issued at a later date. The dilutive potential equity shares are adjusted for
the proceeds receivable had the shares been actually issued at fair value (i.e. average market value of the outstanding
shares). Dilutive potential equity shares are determined independently for each period presented. The number of equity
shares and potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as
appropriate.

33. Segment Reporting

Operating segments are reported in consistent manner with the internal reporting provided to the Chief Operating
Decision Maker (CODM) of the Company. The CODM is responsible for allocating resources and assessing performance of
the Company.

34. Effective 1st April, 2023, the Company has adopted the amendments vide Companies (Indian Accounting Standards)
Amendment Rules, 2023 notifying amendments to existing Indian Accounting Standards. These amendments to the
extent relevant to the Company's operations were relating to: Ind AS 1 "Presentation of Financial Statements" which
replaces the requirement for the entities to disclose their "significant" accounting policies with a requirement to disclose
their "material" accounting policies and further provides guidance on how entities apply the concept of materiality in
making decisions about accounting policy disclosures. The amendments clarify that accounting policy information is
expected to be material if, without it, the user of financial statements would be unable to understand other material
information in the financial statements and also clarify that immaterial accounting policy information need not to be
disclosed, however, if it is disclosed, it should not obscure the material accounting policy information. Further,
consequential amendments with respect to the concept of 'material accounting policies' have also been made in Ind AS
107 "Financial Instruments: Disclosures" and Ind AS 34 "Interim Financial Reporting". The Company has modified and
presented its "material accounting policies" in the financial statement for the year commencing from April 1, 2023 in
compliance with the amendments made. *

Ind AS 8 "Accounting Policies, Changes in Accounting Estimates and Errors" which introduces a definition of "accounting
estimates" and provides guidance to help entities to distinguish changes in accounting policies from changes in
accounting estimates. The amendments do not have a material impact on the Company.

Ind AS 12 "Income Taxes" narrows the scope of the 'initial recognition exemption' so that it does not apply to transactions

that give rise to equal and offsetting temporary differences on its initial recognition. The amendments apply to the
transactions that occur on or after the beginning of the earliest comparative period presented in the annual reporting
periods beginning on or after April 1, 2023. In addition, at the beginning of the earliest reporting period presented
deferred tax on all the temporary differences associated with Right-of- use asset and lease liabilities; decommissioning,
restoration and similar liability and the corresponding amounts recognized as part of the cost of the related assets shall
also require to be recognized as an adjustment to the opening balance of retained earnings. The amendments do not
have any material impact on the Company as it has already been following accounting policy of recognizing deferred tax
on equal and offsetting temporary differences on initial recognition of lease transactions.

There are other amendments in various standards, including Ind AS 101 "First Time Adoption if Indian Accounting
Standards"; Ind AS 102 "Share-based Payment"; Ind AS 103 "Business Combination"; Ind AS 109 "Financial Instruments";
and Ind AS 115 "Revenue from Contracts with Customers" which are not listed herein above since these are either not
material or relevant to the Company.

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards. There is no such
notification which would have been applicable from April 1,2024.

(ii) Categories of financial instruments
Calculation of Fair Values

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in
an orderly transaction between market participants at the measurement date The following methods and assumptions were used to estimate the
fair values of financial instruments:

a) The fair values of investment in quoted investment in equity shares is based on the current bid price of respective investment as at the Balance
Sheet date. However there is no such investment as at the balance sheet date.

b) The fair value of bank borrowings carrying floatmg rate of interest is not Impacted due to interest rate changes and will not be significantly
different from their carrying amounts as there is no significant change in the under-lying credit risk of the Company (since the date of inception of
the loans)

c) Cash and cash equivalents, trade receivables, other financial assets, trade payables, and other financial liabilities have fair values that
approximate to their carrying amounts due to their short-term nature

Fair value measurements recognized in the balance sheet:

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into
levels 1 to 3 based on the degree to which the fair value is observable.

-level 1 fair value measurements are those derived from quoted pnees (unadjusted) in active markets for identical assets or liabilities.

-level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset
or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

-Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on
observable market data (unobservable inputs).

(iii) Financial risk management objectives.

The Company's principal financial liabilities comprise of loan from banks and financial institutions, and trade payables. The main purpose of these
financial liabilities is to raise finance for the Company's operations. The Company has various financial assets such as trade receivables, cash and
short term deposits, which arise directly from its operations

The main risks arising from Company's financial instruments are foreign currency risk, credit risk, market risk, interest rate risk and liquidity risk.
The Board of Directors review and agree policies for managing each of these risks.

(a) Credit risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial Instrument falls to meet its contractual
obligations, and arises principally from the Company's trade and other receivables, cash and cash equivalents and other bank balances. The
maximum exposure to credit risk in case of all the financial instruments covered below Is restricted to their respective carrying amount.

Trade and Other receivables

Customer credit is managed by each business unit subject to the Company's established policies, procedures and control relating to customer
credit risk management. Trade receivables are non-interest bearing and are generally on 0 to 120 days credit term. Credit limits are established
for all customers based on internal rating criteria. Outstanding customer receivables are regularly monitored.

The Company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business environment in
which the entity operates. Loss rates are based on actual credit loss expenence and past trends.

Expected credit loss assessment for customers:

The company is making provisions on trade receivables based on Expected Credit loss (ECl) model. The reconciliation of ECl is as follows:

Other financial assets

The Company maintains exposure in cash and cash equivalents, term deposits with banks and derivative contracts

The Company held cash and cash equivalents of Rs 40 08 Lacs at March 31, 2024 (March 31, 2023: Rs 76.78 lacs). Cash and cash equivalents are
held with reputable and credit-worthy banks

Individual risk limits are set for each counter-party based on financial position, credit rating and past experience Credit limits and concentration of
exposures are actively monitored by the Management of the Company

Other than trade and other receivables, the Company has no other financial assets that are past due but not impaired

(b) Market risk:

Market Risk is the risk that the fair value or future cash Rows of a financial instrument will fluctuate because of changes in market prices. Market
risk comprises three types of risk: currency nsk. Interest rate risk and price risk

(I) Foreign currency risk

The Company is exposed to currency risk on account of its operating and financing activities. The functional currency of the Company is Indian
Rupee. Company’s exposure is mainly denominated in USD, G8P and Euro. The Company has put in place a Financial Risk Management Policy to
Identify the most effective and efficient ways of managing the currency risks. The Company uses derivative instruments (mainly foreign exchange
forward contracts) to mitigate the risk of changes in foreign currency exchange rate.

The Company do not use derivative financial instruments for trading or speculative purposes.

(II) Interest rate risk:

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the reference rates could
have an impact on the Company's cash flows as well as costs. The Company also uses a mix of interest rate sensitive financial instruments to
manage the liquidity and fund requirements for its day to day operations like short-term loans.

Interest rate sensitivity analysis:

As at March 31, 2024 interest bearing financial liability (secured loan from banks) stood at Rs. 1,993.15 Lacs, was subject to variable interest rates
Increase/decrease of 50 basis points in interest rates at the balance sheet date would result in decrease/increase in profit before tax of Rs. 9 97
Lacs.

The risk estimates provided assume a parallel shift of 50 basis points interest rate. This calculation also assumes that the change occurs at the
balance sheet date and has been calculated based on risk exposures outstanding as at that date. The period end balances are not necessarily
representative of the average debt outstanding during the period.

This analysis assumes that all other variables, in particular foreign currency rates, remain constant.

Fair value of financial instruments:

All financial assets are initially recognized at fair value of consideration paid. 5ubsequently, financial assets are carried at fair value or amortized
cost less Impairment. Where non - derivative financial assets are carried at fair value, gains and losses on re- measurement are recognized directly
in equity unless the financial assets have been designated as being held at fair value through profit or loss, in which case the gains and losses are
recognized directly in the standalone statement of profit and loss Financial assets are designated as being held at fair value through profit or loss
when it Is necessary to reduce measurement inconsistency for related assets and liabilities. All financial liabilities other than derivatives are
initially recognized at fair value of consideration received net of transaction costs as appropriate (initial cost) and subsequently carried at
amortized cost.

(III) Liquidity risk:

The Company follows a Conservative policy of ensuring sufficient liquidity at all times through a strategy of profitable growth, efficient working
capital management as well as prudent capital expenditure The Company has a overdraft facility with banks to support any temporary funding
requirements.

The Company believes that current cash and cash equivalents, tied up borrowing lines and cash flow that is generated from operations is sufficient
to meet requirements Accordingly, liquidity risk is perceived to be low

(IV) Other price nsk:

The Company is not exposed to any significant equity price risks ansing from equity investments, as on 31st March 2023. Equity investments are
held for strategic rather than trading purposes. The Company does not actively trade these investments

(V) Equity price sensitivity analysis:

There is no exposure to equity price risks as at the reporting date or as at the previous reporting date.

41. Additional Regulatory Information

Additional Regulatory Information pursuant to Clause 61 of General Instructions for preparation of Balance Sheet as given in Part I of Division II of
Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere in any other notes to the
Financial Statements.

(a) Title deeds o< immovable Property not held m name of the Company

The title in respect of self constructed buildings and title deeds of all other 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 included under property, plant
and equipment are held in the name of the Company as at the balance sheet date

(b) Fair Value of investment Property

The Company do not have any Investment property.

(c) Revaluation of Property, Plant & Equipment and Intangible Assets

The Company has not revalued any of its Property, Plant & Equipment and Intangible Asset, during the year.

(d) Details of Benami Property held

The company do not have any Benami Property, where any proceeding has been Initiated or pending against the company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder

(e) Borrowings from banks or financial institutions on the basis of security of current assets

The Company has a Working Capital limit of Rs 2,066 Lacs from SBI comprising of Fund-based limits of Rs. 1,916 lacs and non-fund-based limits of
Rs 150 Lacs. For the said facility, the Company has submitted Stock and debtors statement to the bank on monthly basis as also the Quarterly
Information Statements. The difference between value as per books of accounts and as per quarterly statements submitted with lenders are as
under:

(f) Wilful Defaulter

The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time
during the financial year or after the end of reporting period but before the date when the financial statements are approved.

(g) Relationship with Struck off Companies

The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section S60 of Companies Act. 19S6.

(h) Registration of charges or satisfaction thereof with Registrar of Companies

There Is no charges or satisfaction thereof yet to be registered with Registrar of Companies beyond the statutory period as on the date of Balance
Sheet.

(i) Compliance with number of layers of companies

There is no non-compliance of provisions regarding the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017.

(J) The company has not advanced or loaned or Invested funds to any other person(s) or entity (Is), Including foreign entitles (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
Beneficiaries), or

II. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(k) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding
(whether recorded In writing or otherwise) that the Company shall;

I. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate beneficiaries), or

li. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(l) Undisclosed income

The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or disclosed as income
during the year in the tan assessments under the Income Tan Act. 1961 ( such as, search or survey or any other relevant provisions of the Income
Tax Act, 1961).

(m) Details pf Crypty Currency pr Virtual Currency

The Company has not traded or Invested in Crypto currency or Virtual Currency during the year.

(n) Compliance with approved Scheme(s) of Arrangements

During the year, no Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act
2013

47. Figures of the previous year have been regrouped/rearranged wherever required in order to make them comparable
with those of current year. Figures have been rounded off to the nearest rupees in lacs.

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

For Kapoor Tandon & Co.

Chartered Accountants
Firm Registration No. 000952CC

Veqarul Amin Iftikharul Amin

Managing Director Director

Divyank Nigam
Partner

M. No. 438443

Habibullah Khan Arti Tiwari

Place: Kanpur CFO Company Secretary

Date: 30-05-2024