2.11 Provisions, contingent liabilities and contingent assets

Provision is recognized in the accounts when there is a present obligation as a result of past
event(s) and it is probable that an outflow of resources will be required to settle the
obligation and a reliable estimate can be made.

Provisions are not discounted to their present value and are determined based on the best
estimaterequired to settle the obligation at the reporting date. These estimates are reviewed
at each reporting date andadjusted to reflect the current best estimates.

Contingent liabilities are disclosed unless the possibility of outflow of resources is remote.
Contingent assets are neither recognized nor disclosed in the financial statements.

2.12 Inventories

Cost of inventories comprises of all costs of purchase, conversion and other costs incurred
in bringingthe inventories to their present location and condition.

Raw material are valued at lower of cost and net realizable value. Cost is determined under
the first-in, first-out method.

Work in progress and finished goods are valued at lower of cost and net realizable value.
Fixed production overheads are allocated on the basis of normal capacity of production
facilities.

The net realizable value is the estimated selling price in the ordinary course of business less
theestimated costs of completion and estimated costs necessary to make the sale.

3. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of ?10/- per share. Each holder
of equity shares is entitled to one vote per share. The company declares and pays dividends in
Indian rupees. The holders of the equity shares are entitled to receive dividends as declared from
time to time, and are entitled to voting rights proportionate to their share holding at the meetings of
shareholders.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive the
remaining assets of the company, after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the shareholders.

The Company has issued shares to public through initial public offer in the previous year, Details
regarding the issue of equity shares in market is as under:

Equity shares outstanding prior to the

Issue:

Up to 17,89,500 Equity
Equity shares outstanding after the Issue: Shares of face value of

?10 each

Face Value Per
Share:?10

Share Premium: ? 80
Issue Price: ? 90

25. Related Party Disclosure

(a) List of Related Party And Nature Of Relationship

Name of related Party Relationship

Namita P Kale Director

Shweta P Kale Director

Praj akta P Kale Director

(b) Transaction With Related Parties

List of related parties with whom transactions took place during the year:

26. The Company has no outstanding derivatives as at 31^st March 2023 (PY - Nil) . Foreign
Currency exposures not hedged by derivative instrument or otherwise.

27. The company is engaged in only one business hence no information has been furnished in
accordance with AS 17 on “Segment Reporting” issued by the Institute Of Chartered
Accountants Of India.

28. The Company does not have any pending litigations as at 31^st March 2023.

29. The Company did not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses.

30. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company during the year ended 31^st March 2023.

31. Prior year figures have been reclassified / regrouped wherever necessary to confirm to the current
year’s classification.

32. The Company has borrowing (Cash Credit Limit ) from HDFC Bank on the basis of
security of current assets and company is regular in submitting quarterly return or statement of current
assets and submitted statements were in agreement with books of account.

33. The Share Premium amount arises in the process of IPO in previous year was utilized for working
capital for which it was raised.

34. The Company has not revalued any Property, Plant and Equipment (Including Right of
use Assets) during the F.Y. 2022-23.

35. The Company has no Intangible Assets under development during the F. Y. 2022-23.

36. Neither any proceedings have been initiated nor pending against the company for
holding any benami property under the “Benami Transactions (Prohibition) Act, 1988 (45
of 1988) and the rules made thereunder.

37. The company is a not declared as willful defaulter by any bank or financial institution or
other lender.

38. The company does not have any transaction with companies struck off under section 248 of the

Companies Act, 2013or section 560 of the Companies Act 1956.

39. There are no Charges or Satisfaction of charges which are yet to be registered with
Registrar of Companies.

40. The provisions of clause 87 of section 2 of the Act read with Companies (Restriction on
number of Layers) Rules, 2017 with respect to restriction on number of layers of
companies do not apply.

41. . No Scheme of Arrangement has been approved by the Competent Authority in terms of

section 230 to 237 of the companies Act, 2013, Hence, no disclosure to the effect of sucl
Scheme of Arrangement have been accounted for in the books of account of the company ii
accordance with the Scheme' and 'in accordance with accounting standards' and deviation ii
this regard shall be explained.

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

43. The figures stated in financials have been rounded off to the nearest decimal (in Lakhs)
wherever required

Signature to the notes no 1 - 43 forming part of the accounts

FOR ZOEB ANWAR & CO
CHARTERED ACCOUNTANTS

Sd/-

ZOEB I. ANWAR Sd/- Sd/-

(Proprietor ) NAMITA KALE SHWETA KALE

M NO 101496 WHOLE TIME IRECTOR DIRECTOR

UDIN NO:23101496BGPUSU3320 DIN: 01586375 DIN: 01586321

Place : Nagpur
Date : 23/05/2023