1. (a) The first term loan from HDFC Bank Ltd. of Rs. 504.21 lakhs was taken against factory land & building , personal gurantee of Vikas Goel ,Vikas Gupta ,Mudit goel directors of company & residential properties of Vikas Gupta . The loan was for the tenure of 74 months having an EMI of Rs. 10.22 lakhs beginning 07.02.2024 & carrying ROI of 8.63%

(b) The second term loan from HDFC Bank Ltd. of Rs. 679.70 lakhs was taken against factory land & building , personal guarantee of Vikas Goel ,Vikas Gupta ,Mudit goel directors ofcompany & residential properties of Vikas Gupta . The loan wasfor the tenure of 66 months having an EMI ofRs. 13.78 lakhs w.ef. 07.06.2023 & carrying ROI of 8.63%

(c) Thefirst GECL loan from HDFC Bank Ltd. of Rs. 539.00 lakhs was taken againstfactory land & building, personal guarantee of directorsVikas Goel,Vikas Gupta,Mudit goel directors of company & residential properties of Vikas Gupta. The loans wasfor the tenure of 48 months having an EMI of Rs. 16.95 lakhs w.ef. 16.11.2021 & carrying ROI of 9.25%.

(d) The second GECL loan from HDFC Bank Ltd. of Rs. 785.00 lakhs was taken against factory land & building, persona gurantee of Vikas Goel ,Vikas Gupta ,Mudit goel directors of company & residential properties of Vikas Gupta . The loans wasfor the tenure of 5 years having an EMI of Rs. 24.44 lakhs w.ef. 07.05.2024 & carrying ROI of 9.25%

(e) The term loans from Citi Bank were taken against factory land & building, personal guarantee of Vikas Goel ,Vikas Gupta ,Mudit goel directors of company & residential properties of two directors Vikas Gupta & Vikas Goel and the ROI ,terms of loan and repayment are stated above.

(f) Vehicle loans from banks and NBFC are secured by hypothecation of vehicles financed.

3(i) Working Capital facilities from HDFC Bank Ltd. are secured by Hypothecation of Stock, debtors & all other current assets of company and extension of charges on block fixed assets on parri passu charges basis and extention of residential property of Vikas Gupta on parri passu basis . These loans are further secured by personal guarantee of the promoters/directors. Interest rate is 3 months T-bill 1.63% and present 3 months T-bill rate is 6.89%.

3(ii) Working Capital facilities from Citi Bank are secured by Hypothecation of Stock, debtors & all other current assets of company on parri pasu basis and extension of charges on block fixed assets on pari passu basis . These loans are further secured by personal guarantee of the promoters/directors and extention of charges on parri passu basis on the residential properties of the directors namely Vikas Goel & Vikas Gupta . Interest rate is 3 months T-bill 1.70% and present 3 months T-bill rate is 6.66%.

The company has not granted any loans to promoters, director, KMPs and the related parties (as defined under Companies Act, 2013) either severally or jointly with any other person during the year under consideration.

Terms and conditions of transactions with related parties

The sales to and purchases from related parties, if any are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2023: Nil, March 31, 2022: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

29.3 Deferred Tax:

The Company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.

29.4 Corporate Social Responsibility:

During the year, the amount required to be spent on corporate social responsibility activities amounted to INR 11.89 lakhs (31 March 2022: Not Applicable) in accordance with Section 135 of the Act, 2013. The following amounts were actually spent during the current and previous year

29.5 Employee Benefits:

The Company has a defined benefit gratuity plan. Under Gratuity Plan, every employee who has completed five years or more of service gets a gratuity on departure at 15 days of last drawn salary for each completed year of service.

The gratuity plan is governed by the Payment of Gratuity Act, 1972. The level of benefits provided depends on the member's length of service and salary at retirement age.

Description of Risk Exposures

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is exposed to various risks as follow:

i) Salary Increases- Actual salary increases will increase the Plan's liability. Increase in salary increase rate assumption in future valuations will also increase the liability.

ii) Discount Rate : Reduction in discount rate in subsequent valuations can increase the plan's liability.

iii) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

iv) Investment Risk-Theplan is unfunded hencethegreatestrisk tothe beneficiary is that there are insufficient funds available to provide the promised benefits. Th may be due to (a) The insufficient funds set aside, i.e. underfunding; (b) The insolvency of the Employer; (c) The holding of investments which are not matched to the liabilities; or (d) a combination of these events

29.8 Fair Value of Financial Instruments

The comparison of carrying value and fair value of financial instruments by categories that are not measured at fair value are as follows:

The management assessed that trade receivables, cash and cash equivalents, other bank balances, loans and advances to related parties, interest receivable, trade payables, capital creditors, other current financial assets and liabilities are considered to be the same as their fair values, due to their short term nature.

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:

Fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities

Level 2: Other techniques for which all inputs that have a significant effect on the-recorded fair value are observable, either directly or indirectly Level 3: Techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

29.9 Financial risk management objectives and policies

The Company has instituted an overall risk management programme which also focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company's financial performance. Financial risk management is carried out by Finance department under policies approved by the Board of Directors from time to time. The Finance department, evaluates and hedges financial risks in close co-operation with the various stakeholders. The Board of Directors approves written principles for overall financial risk management, as well as written policies covering specific areas, such as credit risk, use of derivative financial instruments and non-derivative financial instruments.

The Company is exposed to market risk, credit risk and liquidity risk. These risks are managed pro-actively by the Senior Management of the Company, duly supported by various Groups and Committees.

(a) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company employs prudent liquidity risk management practices which inter alia means maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities. Given the nature of the underlying businesses, the corporate finance maintains flexibility in funding by maintaining availability under committed credit lines and this way liquidity risk is mitigated by the availability of funds to cover future commitments. Cash flow forecasts are prepared and the utilized borrowing facilities are monitored on a daily basis and there is adequate focus on good management practices whereby the collections are managed efficiently. The Company while borrowing funds for large capital project, negotiates the repayment schedule in such a manner that these match with the generation of cash on such investment. Longer term cash flow forecasts are updated from time to time and reviewed by the Senior management of the Company.

The table below represents the maturity profile of Company's financial liabilities at the end March 31, 2023 and March 31, 2022 based on contractual undiscounted payments:-

(b) Credit Risk

Credit Risk is the risk that the counter party will not meet its obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) including deposits with banks, foreign exchange transactions and other financial assets.

(i) Trade receivables

Customer credit risk is managed subject to the Company's established policy, procedures and control relating to customer credit risk management. Management evaluate credit risk relating to customers on an ongoing basis. Receivable control management team assess the credit quality of the customer, taking into account its financial position, past experience and other factors. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date on group\category basis. The calculation is based on exchange losses, historical data and available facts as on date of evaluation. Trade receivables comprise a customer base including FMCG companies, dealers and retail customers. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

(ii) Financial instruments and cash deposit

Credit risk from balances with banks and financial institutions is managed by the Company's Finance department team in accordance with the Company's policy. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through counter party's potential failure to make payments. Credit limits of all authorities are reviewed by the management on regular basis. All balances with banks and financial institutions is subject to low credit risk due to good credit ratings assigned to the Company.

(c) Market Risk

Market riskistherisk that the fair value of future cash flows ofa financial instrument will fluctuate because of changes in market prices. Market risks comprises three types of risk: currency rate risk, interest rate risk and other price risks, such as equity price risk and commodity price risk. Financial instruments affected by market risks include loans and borrowings. The sensitivity analyses in the following sections relate to the position as at March 31, 2023 and March 31, 2022. The analyses exclude the impact of movements in market variables on; the carrying values of gratuity and other post-retirement obligations; provisions; and the non-financial assets and liabilities. The sensitivity of the relevant Profit and Loss item is the effect of the assumed changes in the respective market risks. This is based on the financial assets and financial liabilities held as of at March 31, 2023 and March 31, 2022.

(d) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's operating activities (when revenue, expense or capital expenditure is denominated in foreign currency). The company is not exposed to material foreign currency risk.

(e) Interest rate risk

Interest rate is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's debt obligation at floating interest rates which is not material.

(f) Commodity price risk

The Company is affected by the price volatility of certain commodities. Its operating activities require the ongoing purchase of raw material and therefore requires a continues supply. The Company operations may impact due to changes in prices of those raw materials.

29.10 Capital Management

For the purpose of the Company's capital management, capital includes issued equity attributable to the equity shareholders of the Company, security premiumand all other equity reserves. The primary objective of the Company's capital management is that it maintain an efficient capital structure and maximize the shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net interest bearing debt divided by total capital attributable to shareholders. The Company includes within net debt, interest bearing loans and borrowings, less cash and cash equivalents, other bank balances which are free.

29.13 Other statutory information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property.

(ii) The Company does not have any transactions with companies struck off.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period,

(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

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

(vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

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

(vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Group shall:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(viii) TThe Company has not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the I ncome Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

29.14 In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated if realised in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

29.15 Previous year figures have been recasted/regrouped/rearranged wherever necessary to make them comparable with that of current year.