A : CORPORATE INFORMATION

Fiberweb (India) Limited is a listed public limited Company, incorporated in India. The Company is engaged in the business of “Manufacture of SPUNBOND NONWOVEN FABRICS from polypropylene. The Company has started business activity in U.A.E. through formation of wholly owned (i.e. 100%) subsidiary, viz. Sheth Non Wooven Trading FZE in Ras Al Khaimah (U.A. E.).

B: OTHER NOTES ON ACCOUNTS

I. The Company has availed non funding facilities from its bankers. In this connection 'Rs. 21,86,753/- (previous year '20,54,033/-) are kept with Banks as lien / margin money against guarantees opened by the bankers and guarantees issued by them.

II. No provision for income tax liability has been made in the terms of BIFR order dt 20.10.2015 under which vide clause 13.2.c, the company is exempted from the applicability of Minimum Alternate Tax (MAT) u/s 115 J of Income Tax Act, 1961.

III. Debtors and Creditors balances are subject to confirmations from the parties.

IV. In the opinion of the Board of Directors the Current Assets, Loans & Advances except those shown as doubtful have a value on realization in the ordinary course of business at least equal to the amount at which items are stated in the Balance Sheet.

V. Modvat credit of Excise duty taken on purchase of Raw Materials is not included in the value of inventory of Raw Material. Also value of inventory of finished goods does not include excise duty payable on manufacture. This has no effect on the profit of the Company.

VI. Figures of the previous year have been re-grouped / rearranged /reclassified wherever necessary.

VII. Standards Issued but not effective

On March 28, 2018 the Ministry of Corporate Affairs (MCA) has notified Ind AS 115 - Revenue from Contract with customers and certain amendments shall be applicable to the Company from April 01, 2018.

Issue of Ind AS 115 - Revenue from Contracts with Customers

Ind AS 115 will supersede the current revenue recognition guidance including Ind AS 18 Revenue, Ind AS 11 Construction Contracts and the related interpretations. Ind AS 115 provides a single model of accounting for revenue arising from contracts with customers based on the identification and satisfaction of performance obligations.

Amendment to Existing issued Ind AS

The MCA has also carried out amendments of the following accounting standards:

i. Ind AS 21 - The Effects of Changes in Foreign Exchange Rates

ii. Ind AS 40 - Investment Property

iii. Ind AS 12 - Income Taxes

iv. Ind AS 28 - Investments in Associates and Joint Ventures and

v. Ind AS 112 - Disclosure of Interests in Other Entities

Application of above standards are not expected to have any impact on the Company's Financial Statements.

(ii) During the last year, the company allotted 18,00,000 convertible equity warrants @ 181/- (including premium of Rs 171/- per convertible equity warrants) on preferntial basis to group of strategic investors. Out of this 7,00,000 equity warrants converted into equity shares of Rs 10/- each at a premium of Rs. 171/- each, in last year and the balance 11,00,000 equity warrants were converted in to equity shares of Rs.10/- each at a premium of Rs. 171/- per share, in current year.

(iv) During the current year, the Company issued Bonus shares in the proportion of 1:1 to all the shareholders as on 20.01.2018.

(v) Terms / rights attached to Equity Shares :

The Company has a single class of equity shares having at par value of '10/- per share. Each holder of equity share is entitled to one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company in proportion to the number of equity shares held by each shareholder, after settlement of all preferential obligations.

Footnotes:

(i) As per Hon'ble BIFR order dated 20/10/2015 an undertaking given to BIFR by Gayatri Pipes and Fittings Pvt Limited (Lender) the Tem Loan written back in May 2016.

** Trade payables in above Note includes Rs.NIL (P.Y. Rs.NIL) due to micro, small and medium enterprises registered under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED).

Disclosure under AS 15

Employee benefit plans (Defined contribution plans)

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs.28,56,962/- (Year ended 31 March, 2017 Rs.27,81,336/- ) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.