1. Contingent Liabilities not provided for

Disputed amount of Rs.22.47 Lakhs towards A.P Tax on Entry of goods for the assessment year 2002-03 is pending with the ADC (CT) Punjagutta division, Hyderabad against which we have already paid an amount of Rs. 3.21 Lakhs the case did not come for any hearing further.

2 Details under Micro and Small Enterprises Development Act SUNDRY CREDITORS

Disclosure under the Micro and Small Enterprises Development Act, 2006. Amount Due to Micro and Small Enterprises are disclosed on the basis of information company regarding available with the status of the supplier is as follows

3 Amount of Exchange difference as per Ind AS -21 Accounting for the effects of changes in Foreign Exchange rates included in the finance cost was Rs. 11.72 lakhs ( previous year Rs.16.10 lakhs)

4 Expenditure in Foreign Currency Travelling

5 Earnings in Foreign Currency ( on receipts basis )

6 Segment reporting under Indian Accounting Standard - 108

The Company operates in singal primary business segment namely manufacture of Automobile Components -Piston Assemblies, hence no separate disclosure is required.

7 Related Party Disclosures as per Ind AS -24

*Mrs. S Saraswathi is a major partner and she is related to Director of the company and hence the transaction with Gopal Engineering Co., is reported under related party transaction.

The Company had taken on lease of properties from the Directors of the Company and relatives of the Directors of the company for the staff at factory, Visakhapatnam and at Hyderabad and office at Visakhapatnam

8 The Company had already transferred balance funds in Un-paid Dividend account to Investors Education Fund amounting to Rs. 2.31 Lakhs . The amount was deposited on Aprl 2018 after a delay of six months

The Cost of Raw Material does not include the Power and Fuel and Transportation.

9 The obligation under EPCG concessional duty scheme on account of capital Equipments imports amounting to Rs.2097.70 Lakhs (previous year Rs.1394.46 lakhs)

10 The Company had not accepted any deposits from public nor solicited any as per Companies Act deposit rules 2013. The company had taken security deposits from our dealers of our products and paying interset @9%. The deposits are repayable at the closure of the dealership only.

11 PROPERTY, PLANT AND EQUIPMENT

Property, Plant and Equipment is stated at acquisition cost net of accumulated depreciation and accumulated impairment losses if any, subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate only when it is probable that future economic benefits associated with the item will flow to the company and cost of the item can be measured reliably.

All other repairs and maintainance are charged to the statement of prfoit and loss during the period in which they are incurred. Gains and losses arising on retirement or disposal of property,plant and equipment are recognised in statement of profit and loss.

Property, plant and equipment which are not ready for intended use as on the date of balance sheet are disclosed as Capital work in progress

Depreciation is provided on a prorata basis on the straight line method based on estimated useful life prescribed under Schedule II to the Companies Act, 2013

Upon First time adoption of Ind AS, the Company has elected to measure all its property,plant and equipment at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS i.e 1st April, 2016

12 FIRST TIME ADOPTION OF Ind AS

The Company has adopted Indian Accounting Standards(Ind AS) as notified by the Ministry of Corporate Affairs with effect from 1st April, 2015, with a transition date of 1st April, 2016 these financial statements for the year ended 31st March, 2018 are the first financial statements the company prepared under Ind AS for all periods up to and including the year ended 31st March, 2017, the company prepared its financial statements in accordance with the accounting standards notified under section 133 of the companies act, 2013, read together paragraph 7 of the companies (accounts) rules, 2014 (previous GAAP)

The adoption of Ind AS has been carried out in accordance with Ind AS 101, First Time adoption of Indian Accounting Ind AS 101 requires that all Ind AS standards and interpretations that are issued and effective for the fist Ind AS financial statements be applied retrospectively and consistently for all financial years presented accordingly the company has prepared financial statements which comply with Ind AS for year ended 31st March, 2018, together with comparative information as at and for the year 31st March, 2017 and the opening Ind AS balance sheet as at 1st April, 2016, the date of transition to Ind AS in preparing these Ind AS financial statements, the company has availed certain exemptions and exceptions in accordance with Ind AS 101

OPTIONAL EXEMPTIONS FROM RETROSPCTIVE APPLICATION

Deemed cost for Property, Plant and Equipment and Intangible Assets, the Company has elected to measure all its property, plant and equipment and intangible assets at the previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS mandatory exceptions from retrospective application,

The Company has applied the following exceptions to the retrospective application of Ind AS as mandatorily, required under Ind AS 101:

i) ESTIMATES

On assessment of the estimates made under previous GAAP Financial Statements, the Company has concluded that there is no necessity to revise the estimates under Ind AS, as there is no objective evidence of an error in those estimates. However estimates that were required under Ind AS but not required under previous GAAP are made by the company for the relevant reporting dates reflecting conditions existing at that date.

ii) CLASSIFICATION AND MEASUREMENT OF FINANCIAL ASSETS

The classification of Financial Asset to be measured at amortised cost or fair value through other comprehensive income is made on the basis of the facts and circumstances that existed on the date of transition to Ind AS

13 Figures for the previous year has been regrouped/reclassified wherever necessary to be confirmity with the current year format of Ind AS SCHEDULE - III to the Companies Act.

14 Signature to Schedule 1 to 4 and 5(1) to 5(34)