Notes:

(i) Other advances includes sum of Rs, 70 (March 31, 2017: Rs, 70 ; April 1, 2016: Rs, 70) paid by way of a Rent deposit and Rs,* (March 31, 2017: Rs, Nil ; April 1, 2016: Rs, Nil) to a firm/LLP wherein some of the directors are partners.

(ii) Assets held for disposal consists of plant & equipment which have been identified for disposal due to replacement / obsolescence of assets which happens in the normal course of business.

Notes:

Terms & Rights attached to each class of shares

1) The Company has only one class of equity shares having par value of Rs, 10 per share. Each holder of equity shares is entitled to one vote per share.

2) The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

3) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive 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.

4) During the year the Company has issued 3,46,000 equity shares of Rs, 10 each (at Rs, 168 each) including securities premium of Rs, 158.

28.2 The Company's pending litigations comprise of claims against the Company by the parties and proceedings pending with the Revenue authorities. The Company has reviewed all its pending litigations and proceedings and has adequately provided for, where provisions are required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have any materially adverse effect on its financial results. For details on contingent liabilities refer Note 28.1 above.

28.3 The Current Assets and Loans and Advances are approximately of the value stated, if realized in the ordinary course of business.

28.4 The Company is in the process of reconciling balances of some parties. The Company believes that on completion of the said process, there would be no material adjustments necessary in the accounts.

28.5 During financial year 2014-15 the Company had paid remuneration of Rs, 25 to its Managing Director. Though the Central Government has approved the appointment, the amount payable by way of remuneration needs further clarification from the Central Government. Pending receipt of the same, the remuneration paid to the Managing director was charged to the Statement of Profit and Loss. The concerned director has agreed to hold the said sum received in trust till the matter is clarified by the Central Government.

28.6 The Company has made aggregate investments of Rs, 15 (March 31, 2017: Rs, 10 ; April 1, 2016: Rs, 10) in the share capital of two of its wholly owned subsidiaries (See Note 4). On account of losses suffered by the said two companies in the past few years, their entire net worth have been eroded. Considering the strategic and long term nature of the investments and the business plans of the investee companies, according to the Company, the decline in the value of the investments is of temporary in nature. Hence, it is not considered necessary to provide for any losses in the value of the investments.

29 Leases

The Company has taken office premises under Operating Lease as per Ind AS 17 'Leases'. These leases have a term of 5 years with an option to renew the same.

As per Ind AS 19 “Employee benefits”, the disclosures as required under the standard is as under:

I. Defined Contribution Plans

The Company makes provident fund contribution to defined contribution plans for qualifying employees. Under the scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. An amount contributed to provident fund is recognized as an expense and included in employee benefit expenses in the statement of profit and loss. The contributions payable to these plans by the Company are at the rates specified in the rules of the schemes. The amount recognized as expense for the year is as under:

II. Defined Benefit Plan

The Company has defined benefit plan for payment of gratuity to all qualifying employees. It is governed by the Payment of Gratuity Act, 1972. Under this Act, an employee who has completed five years of service is entitled to the specified benefits depending on the employee's length of service and salary at retirement age. The Company's defined benefit plan is Non - Funded.

There are no other post-retirement benefits provided by the Company.

The present value of the defined benefit obligation, the related current service cost and past service cost, were measured using the projected unit credit method.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using “Projected Unit Credit” method as at the date of the Balance Sheet which is the same as that applied in calculating the defined benefit obligation liability recognized in Balance Sheet.

There were no changes in the methods and assumptions used in preparing the sensitivity analysis from prior years.

Risk Exposure

These plans typically expose the Company to actuarial risks such as: Interest Risk, Longevity Risk and Salary Risk.

Interest Risk

A decrease in the bond interest rate will increase the plan liability.

Longevity Risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

Salary Risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

G) Leave Encashment

The Compensated Absences charge for the year ended 31 March 2018 Rs, 20 (31 March 2017 Rs, 24), based on actuarial valuation carried out using the projected unit credit method.

31 Related Party Disclosures

Related party disclosures as required by Ind AS 24 'Related Party Disclosures' are given below:

A) Parties where control exist:

Wholly owned subsidiaries of the Company:

i) Aimco Ecoscience Limited;

ii) Aimco International FZE, United Arab Emirates.

B) Other Related parties with whom transactions have taken place during the year:

i) KR Aimco Agro LLP - Associate

ii) Key Managerial Personnel (KMP) :

a) Mrs. Elizabeth Shrivastava (Managing Director)

b) Mr. Pradeep P Dave (Executive Director)

c) Dr. Samir P Dave ( Executive Director)

d) Mr. Ashit P Dave ( Executive Director and Chief Financial Officer)

e) Mr. Dushyant Patel (Chairman & Non Executive, Independent Director)

f) Mr. Ramgopal Kaja (Non-Executive, Independent Director)

g) Mr. B. B. Bhawsar (Non-Executive, Independent Director)

iii) Entities controlled by KMP in which the directors' have substantial interest ( i.e. more than 20% in voting power directly or indirectly):

i) Amisco Agrochem Ltd.

ii) Aimco Investment Pvt Ltd.

iii) Aurangabad Oil Extraction Co Pvt Ltd.

iv) All India Medical Corporation

v) NDR & Co.

Notes:

i) The remuneration of directors and key executives is determined by the remuneration committee having regard to the performance of individuals and market trends.

The above figures do not include provisions for cashable leave, gratuity and premium paid for group health insurance, as separate actuarial valuation / premium paid are not available.

ii) Net of recovery of Rs, Nil (March 31, 2017: Rs, 91)

1. Earnings per share (EPS)

As per Ind AS 33 'Earnings per share' basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year after adjusting for the effect of dilutive potential equity shares.

2. Financial Instruments

A) Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity shareholders. The primary objective of the Company's capital management is to maximize the shareholder value.

B) Financial Instruments-Accounting Classifications and Fair value measurements (Ind AS 107)

3.. Financial risk management objectives (Ind AS 107)

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's activities.

The key risks and mitigating actions are also placed before the Audit Committee of the Company.

The Company has exposure to the following risks arising from financial instruments:

A) Credit risk;

B) Liquidity risk; and

C) Market risk;

A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. Credit risk arises primarily form financial assets such as trade receivables, balances with banks, loans and other receivables.

Trade and other receivables

Customer credit is managed as per the Company's established policies, procedures and control relating to customer credit risk management. Trade receivables are non-interest bearing and are generally on 0 to 90 days credit term. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The Company does not hold collateral as security. The Company has no concentration of credit risk as the customer base is widely distributed both economically and geographically.

The Company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business environment in which the entity operates. The Company has applied expected credit loss (ECL) model for recognizing the allowance for doubtful debts. The Company has used a practical expedient by computing the expected credit allowance for trade receivables based on a simplified approach. The Company uses a provision matrix to determine impairment loss allowance on portfolio of its trade receivables. The provision matrix is based on its historically observed default rates over the expected life of the trade receivables and is adjusted for forward looking estimates. No ECL is required to be provided as the financial instrument has low credit risk of default. Loss rates are based on actual credit loss experience and past trends.

B) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset.

Liquidity risk is managed by Company through effective fund management. The Company's principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company believes that current cash and cash equivalents and cash flow that is generated from operations is sufficient to meet requirements. Accordingly, liquidity risk is perceived to be low.

The following are the remaining contractual maturities of financial liabilities at the reporting date. Amounts disclosed are the contractual un-discounted cash flows.

C) Market risk

Market Risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and price risk.

i) Currency Risk

The Company is exposed to currency risk on account of its operating activities. The functional currency of the Company is Indian Rupee. Company's exposure is in U.S. dollars (USD) and Euros. The USD exchange rate has changed substantially in recent periods and may continue to fluctuate substantially in the future. The Company has put in place a Financial Risk Management Policy to Identify the most effective and efficient ways of managing the currency risks.

Sensitivity analysis

The following table details the Company's sensitivity to a 5% increase and decrease in the Rupee against the relevant foreign currencies. 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. This is mainly attributable to the net exposure outstanding on receivables or payables in the Company at the end of the reporting period. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a 5% charge in foreign currency rate. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. In cases where the related foreign exchange fluctuation is capitalized to fixed assets or recognized directly in reserves, the impact indicated below may affect the Company's income statement over the remaining life of the related fixed assets or the remaining tenure of the borrowing, respectively.

4. Segment Information

As per the requirements of para 4 of Ind AS 108 -Operating Segments, segment information has been provided under the Notes to Consolidated Financial Statements.

5. Details of loans given and investment made covered under section 186(4) of the Act:

6.Transition to Ind AS

These are the Company's first financial statements prepared in accordance with Ind AS. The Company has adopted all the Ind AS and the adoption was carried out in accordance with Ind AS 101 - First time adoption of Indian Accounting Standards. The transition was carried out from Generally Accepted Accounting Principles in India (Indian GAAP) as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, which was the 'Previous GAAP'.

The Significant Accounting Policies set out in Note No. 2 have been applied in preparing the financial statements for the year ended 31st March 2018, 31st March 2017 and the opening balance sheet as on the date of transition i.e. 1st April 2016.

In preparing its Ind AS Balance Sheet as at 1st April 2016 and in presenting the comparative information for the year ended 31st March 2017, the Company has adjusted amounts previously reported in the financial statements prepared in accordance with Previous GAAP. This note explains the principal adjustments made by the Company in restating its financial statements prepared in accordance with Previous GAAP, and how the transition from Previous GAAP to Ind AS has affected the Company's financial position, financial performance and cash flows.

A) Explanation of transition to Ind AS

In preparing the financial statements, the Company has applied the below mentioned optional exemptions and mandatory exceptions.

I. Optional Exemptions availed

(i) Deemed cost for property, plant and equipment

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.

(ii) Investments in Subsidiaries

The Company has elected to measure its investments in subsidiaries at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

II. Mandatory Exceptions

(i) Estimates

On assessment of the estimates made under the 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 as at that date.

(ii) Derecognition of financial assets and financial liabilities

Derecognition of financial assets and liabilities as required by Ind AS 109 is applied prospectively i.e. after the transition date.

(iii) Classification and measurement of financial assets

Ind AS 101 requires an entity to assess classification of financial assets on the basis of facts and circumstances existing as on the date of transition. Further, the standard permits measurement of financial assets accounted at amortized cost based on facts and circumstances existing at the date of transition if retrospective application is impracticable.

Accordingly, the Company has determined the classification of financial assets based on facts and circumstances that exist on the date of transition. Measurement of financial assets accounted at amortized cost has been done retrospectively except where the same is impracticable.

(i) Deferred Tax

Under previous GAAP, deferred tax accounting was done using the income statement approach, which focuses on differences between taxable profits and accounting profits for the period.

Under Ind AS, accounting of deferred taxes is done using the Balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

(ii) Excise Duty

Under previous GAAP, revenue from sale of products was presented net of Excise Duty under revenue from operations.

Under Ind AS, revenue from sale of products includes excise duty. The corresponding excise duty expense is presented under other expenses in the statement of profit and loss. The change does not affect the total equity as at 1st April, 2016 and 31st March, 2017, profit before tax or total profit for the year ended 31st March, 2017.

(iii) Remeasurement of Defined benefits liabilities

Under previous GAAP the company recognized remeasurement of defined benefits plans in statement of profit and loss . Under Ind AS, remeasurement of defined benefits plans are recognized in Other Comprehensive Income.

(iv) Other Comprehensive Income

Under Ind AS, all items of income and expense recognized in a period should be included in statement of profit and loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognized in statement of profit and loss but are shown in the statement of profit and loss as 'other comprehensive income' includes remeasurements of defined benefit plans. The concept of other comprehensive income did not exist under previous GAAP.

(v) The previous year I-GAAP figures have been reclassified/regrouped to make them comparable with Ind AS presentation.

7.In accordance with Ind AS 18 on “Revenue” and Schedule III to the Companies Act, 2013, Sales for the previous year ended 31st March 2017 and for the period 1st April to 30 June 2017 were reported gross of Excise Duty and net of Value Added Tax (VAT)/Sales Tax. Excise Duty was reported as a separate expenses line item. Consequent to the introduction of Goods and Services Tax (GST) with effect from 1st July 2017, VAT/Sales Tax, Excise Duty etc. have been subsumed into GST and accordingly the same is not recognized as part of Sales as per the requirements of Ind AS 18. This has resulted in lower reported sales in the current year in comparison to the sales reported under the pre-GST structure of indirect taxes. With the change in structure of indirect taxes, expenses are also being reported net of taxes. Accordingly, Financial Statements for the year ended 31st March 2018 and in particular, Sales, absolute expenses, elements of Working Capital (Inventories, Trade payable, other current assets/current liabilities etc.) and ratios in percentage of sales, are thus not comparable with the figures of the previous year.

8. The figures of the previous year have been regrouped / reclassified wherever necessary. Figures in bracket are in respect of the previous year.