Terms/rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 2 each. Each holder of equity shares is entitled to one vote per

share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject

In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company, after

Note:

Business Loans from Bank :

Secured by hypothecation over Inventory, Stock in Process, Finished Goods, Receivables and the entire current assets of the Company (Present & Future), hypothecation of plant & machinery of the Company, hypothecation of Receivables IOCL Polymer Division Dealership (Present & Future), registered equitable mortgage of industrial properties (Land & Building) in the name of Company, registered equitable mortgage of residential premises in the name of promoter, pledge of Fixed Deposits and Shares in the name of Directors and personal guarantee of Directors / Promoters. Rate of Interest for borrowings from banks ranges between 7.40% p.a. to 10.25% p.a. Repayable within 1 to 6 Years from the balance sheet date, as per the terms of respective banks.

Unsecured Loans From Directors :

Unsecured Loans from directors and relatives are long term in nature and as per management explanation, generally not repayable within one year from the balance sheet date. Rate of Interest @ 12% p.a.

Unsecured Loans From Banks :

Unsecured Loans from bank are long term in nature repayable within 1 to 5 Years from the balance sheet date, rate of interest being 10.32% p.a.

Unsecured Inter Corporate Deposits : (Loan from Others)

Unsecured Inter Corporate Deposits are long term in nature repayable within 1 to 2 Years from the balance sheet date and are carrying NIL rate of interest.

Note :

Working Capital Facilities from Banks :

Secured by hypothecation over Inventory, Stock in Process, Finished Goods, Receivables and the entire current assets of the Company (Present & Future), hypothecation of plant & machinery of the Company, hypothecation of Receivables IOCL Polymer Division Dealership (Present & Future), registered equitable mortgage of industrial properties (Land & Building) in the name of Company, registered equitable mortgage of residential premises in the name of promoter, pledge of Fixed Deposits and Shares in the name of Directors and personal guarantee of Directors / Promoters. Rate of Interest between 8.25% p.a. to 10.00% p.a. as per the terms of respective banks.

15. A Details of Borrowings from banks or financial institutions on the basis of Security of Current Assets

a) Whether quarterly returns or statement of current assets filed by the company with banks or financial institution are in agreement with the books of account.

* Whatever information the company could identify as above were possible at the yearend only, and in view of the same & according to the company, it could not identify payments beyond due date during the year and to make interest provisions to that extent, as per the agreed terms with the suppliers. The company could identify the principal amount remaining unpaid as on 31st March, 2023 based on the status of respective suppliers received during the year. However, as informed by the management, considering the materiality aspect and as per the agreed terms with respective suppliers, the company has not made provision of any interest due to suppliers for outstanding balance / payment made beyond respective due dates.

Note :

a) Other Payables - Polymer Division denote amounts payables to parties for transactions done on DCA cum CS basis of Indian OilCorporation Ltd. (IOCL) - Polymer Business.

b) Other Payables - Others denote provisional amounts received from dealers / customers pending certain statutory approvals for acquiring the goods, which may be required to be refunded, if such approvals are not received by such persons

(2) GEOGRAPHICAL SEGMENTS:

The major and material activities of the company are restricted to only one geographical segment i.e., India, hence the secondary segment disclosures are also not applicable.

39. Derivatives and Foreign Currency exposures :

The Company uses forward contract to mitigate its risks associated with foreign currency fluctuations having underlying transaction in relation toSale of goods. The company does not enter into any forward contract which is intended for trading or speculative purposes.

40. Employee benefit

The Company has defined benefit gratuity plan. Every employee who has completed five years or more of services gets a gratuity on departure at 15 days salary (Last drawn salary) for each completed year of service.

The following table summarizes the component of net benefit expenses recognized in Statement of Profit & Loss.

Gratuity Obligation as at year end as per Actuarial Valuation Report.

The Board provides guiding principles for overall risk management as well as policies covering specific areas such as foreign exchange risk, credit risk and investment of surplus liquidity

(a) Credit risk

Credit risk refers to the risk of a counter party default on its contractual obligation resulting into a financial loss to the Company. The maximum exposure of the Financial assets represents trade receivables, work in progress and other receivables. In respect of tradereceivables, the Company used a provision matrix to compute the expected credit loss allowances for trade receivables in accordance with the expected credit loss ( ECL ) policy of the Company. The Company regularly reviews trade receivables and necessary provisions, wherever required are made in the financial statements.

(b) Liquidity risk

Liquidity risk is that the Company will encounter difficulty in raising funds to meet its commitments associated with financial instruments. Liquidity risk may result from an inability to sell as financial asset quickly at close to its fair value.

The Company manages liquidity risk by maintaining adequate reserves and banking facilities by continuously monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities. Contractual maturities of significant financial liabilities are as

(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. Such changes in the values of financial instruments may result from changes in foreign currency exchange rates, interest rates, credit, liquidity and other market changes. foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

The Company is earning in foreign currency and consequently, the company is exposed to foreign exchange risk. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

(d) Capital management

The Company's capital management objective is to maximize the total shareholders' return by optimizing cost of capital through flexible capital structure that supports growth. Further, the Company ensure optimal credit risk profile to maintain / enhance credit rating.

The Company determined the amount of capital required on the basis of annual operating plan and long-term strategic plans. The funding requirements are met through internal accruals and long term / short term borrowings.

The Company monitors the capital structure on the basis of net debt to equity ratio and maturity profile of the overall debt portfolio of the Company.

44. In the opinion of the Board of Directors, Current assets and other noncurrent assets have a value on realization in ordinary courseof business at least equal to the amount at which they are stated.

45. Confirmation of debit / credit balances have not been received and hence these balances are subject to adjustment if any.

46. Previous year figures :

The company has regrouped / rearranged previous year figures in view of easy comparison with current year figures.

47. Figures rounded off to nearest rupee. All the figures including previous year figures have been rounded off to nearest rupee.

48. In the opinion of the Board and to the best of its knowledge and belief, all other contractual liabilities connected with business operations of theCompany have been appropriately provided for.

49. In the opinion of the Board and to the best of its knowledge and belief, the value on realization of current assets, loans and advances will, in the ordinary course of business, not be less than the amounts at which they are stated in the Balance sheet.

50. Willful Defaulter

a) Whether a company is a declared willful defaulter by any bank or financial institution or other lender.

No

51. Relationship with Struck off Companies

a) Whether a company has any transactions with companies struck off under section 248 of the Companies Act 2013 or section 560 of the Companies Act, 1956.

No

52. Compliance with approved Scheme(s) of arrangements Not Applicable

53. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Companyto

or in any other person/s or entity/ies including foreign entity/ies ("Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediaries shall lend or invest in party (“Ultimate Beneficiaries) identified by or on behalf of the Company.

The Company has not received any fund from any party(s) (“Funding Party/ies”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiary”) or provide any guarantee, security, or the like on behalf of the Ultimate Beneficiary.