1. Corporate Information

The Company is Public Limited company domicilied in India and is incorporated under the provisions of Companies Act, 1956. The registered office of the Company is located at Plot No. 399/400, Village Sanghavi, Taluka Khandala, District - Satara.

2. Basis of Preparation of Financial Statements

The standalone financial statements have been prepared in accordance with Indian Accounting Standards (“Ind AS") as issued under the Companies (Indian Accounting Standards) Rules, 2015. The standalone Financial statements have been prepared to comply in all material respects with the Accounting Standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the said Act and the guidelines issued by the Securities and Exchange Board of India. These standalone financial statements for the year ended 31^at March,2018 are the first standalone financial statements that the Company has prepared in accordance with Ind AS. The standalone financial statements have been prepared on historical cost basis except for the investments which have been measured at fair value as they are classified as fair value through profit or loss or fair value through other comprehensive income.

a) TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

(i) The Company has only one class of shares referred to as Equity Shares having a par value of Rs. 10/- each. Each holder of Equity Shares is entitled to one vote per share.

(ii) In case any Dividend is Declared and paid it is done in Indian Rupees. The Dividend proposed if any by the Board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting.

(iii) The Company has not declared or paid any dividend during the year or in respect of the year ended on 31^st March,2018.

(iv) In the event of liquidation of the Company the holders of Equity Shares will be entitiled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However no such preferential amounts exist currently. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

NOTE 3 Segment Information

i. Information about Primary Geographical Segments:

Not Applicable since the company operates in single Geographical Segment i.e. Domestic. The Company does not have any major Exports, which are less than 1 % of its total Sales.

ii. Information about Secondary Business Segments:

Not Applicable since no Secondary Segment is identified as the Company operates in a Single Business Segment of Manufacturing of Food Products.

NOTE 4 Related Party Disclosures [as required by Accounting Standards (AS 18)]

As required by Accounting Standards-AS “Related Party Disclosure” is made as under.

A. Names of Related Parties and description of Relationship with whom there were no transactions during the year Directors / Relatives -

i) Mr. Hukmichand Sukhlal Chordia Companies / LLP -

i) Chordia Technologies LLP.

NOTE 5

The Computation of Net profit for the purpose of calculation of Directors’ Remuneration under Section 198 of the Companies Act, 2013 is not enumerated, since no commission had been paid to the Managerial personnel.

NOTE 6

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end date. Together with interest paid/ payable under this Act, have not been given. The same has been relied upon by the Auditors.

NOTE 7

i) These Financial statements for the year ended 31^st March, 2018 are the first financial statements, the Company has prepared in accordance with Ind AS. For periods up to and including the year ended 31^st March, 2017, the Company has prepared its financial statements in accordance with Indian GAAP.

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending 31^st March, 2018, together with the comparative period data as at and for the period ended 31^st March, 2017 as described in the summery of significant accouting policies. In preparing these financial statements, the Company’s opening Balance Sheet was prepared as at 1** April,2016 the Company’s date of transition to Ind AS. This note explains the principle adjustments made by the Company in restating its Indian GAAP financial statements, including the Balance Sheet as at 1*’ April,2016 and the financial statements as at and for the year ended 31** March,2017.

ii) Prior Period Adjustments

As per Indian Accounting Standard 8, “Accounting Policies, Changes in Accounting Estimates” requires retrospective adjustment of prior period errors and omissions by restating the comparative amounts for prior period presented or, where the errors relates to the period(s) before the earliest prior period presented, restating the opening balance of assets, liabilities and equity for that period. Accordingly the effect of prior period errors and omissions relating to the period before the earliest prior period presented have been given by restating the opening balance of assets, liabilities and equity as applicable.

iii) Exemptions Applied

Ind As 101 “ First- time Adoption of Indian Accounting Standards allows a first time adopter certain exemptions from the retrospective application of certain requirements under Ind AS.

The Company has applied following exemptions

The Company has elected to continue with the carrying value for all of its Property, Plant and Equipment as recognised in its Indian GAAP financial statements as at 1*¹ April,2016 as deemed cost at the date of transition.