Note No- 3(iii) Rights , preferences and restrictions attaching to each class of shares:

The Company has only one class of shares referred to as equity shares having a par value of ?I0/- each holder of equity shares is entitled to one vote per share. 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, if any. The distribution will be in the proportion to the number of equity share held by the shareholders.

Note No- 3(iv) Shares allotted as fully paid-up :

During the financial year ended March 22 ,the company has allotted 42,00,000 equity shares as fully paid up bonus share in the ratio of 1:1 (i.e. one bonus shares for every shares held) by capitalization of security premium account and free reserve of Rs. 420.00 lakhs/-

Note No. - (i) Pursuant to Section 52 of the Companies Act , 2013 , Securities Premium account has been utilized against share issue expenses related to Issue management fees, brokerage fees professional fee and other expenses incurred amounting to Rs. 126.59 lakhs related to the public issue of shares of the company and listing of the Equity Shares of the company on NSE Emerge Exchange.

Note No- (ii) During the year ended on March 2022, the company has allotted 42,00,000 equity shares as fully paid-up bonus shares in the ratio of 1:1 (i.e. one Bonus shares for every share held) by capitalization of security premium account and free reserve of Rs. 420.00 Lakhs/-. As per Section 52 of the company Act, 2013, Company has utilized the security premium for issue of the bonus share to the extent security premium was available. Further, Rs. 395.00 Lakhs has been utilized from reserve and surplus.

Note: During the year , the company has issued and allotted on preferential basis, 12,00,000 No. of share warrants at price of Rs. 140/- each, convertible into or exchange for, one fully paid-up equity shares of the company having face value of Rs. 10/- at a premium of Rs. 1 30/- against every warrant held, in one or more tranches within a maximum period of 18 months from the date of allotment of warrants. Further, the company has received upfront premium of 25% of the warrant issue price i.e. Rs. 420.00 lakhs.

Note: (i) In pursuance to the applications received the company filed Prospectus dated 31 st March, 2022 with ROC, NSE and SEBI for 30,48,000 equity shares having face value of Rs. 10 each at the premium of Rs. 29 per share with the issue size of Rs. 1,188.72 Lakhs and allotted shares to the successful applicants on 01st April, 2022.

Axis Bank: The above facility is secured by way of first charge on entire present and future current asset of the company. The above facility is further secured by way of equitable mortgage on shed no. 121/8, 121/9, 121/20 to 22 and Shed no. 121/23 & 121/24 situated at Kalol. The facility is further secured by way of equitable mortgage on property situated at Flat no. B-302, Shivam Residency Tower, Opp. Urmi School, B/h Gangotri Party Plot, Samasavli Road, Vadodara - 390 002 which is owned by the director. The facility is further secured by way of lien on fixed deposits of Rs. 462.00 Lakhs. The facility is further secured by way of personal guarantee of the Managing director. Interest rate is 8.90% linked to repo rate (i.e. 5.90% 3%).

Punjab National Bank: The above facility is primarily secured by way of paripassu charge on entire stock and book debts of the company and is collaterally secured by way of paripassu charge on immovable properties mortgaged with Axis Bank Limited. Further , the loan is collaterally secured by way of exclusive charge on office owned by the company situated at Unit No. 344, 3rd Floor, A to Z industrial Estate, Ganpatrao kadam Marg, Near Peninsula Corporate Park, Lower Parel (West), Mumbai-400013, Fixed deposit of Rs. 113.50 Lakhs and personal guarantee of managing director . Interest rate is 9.60% i.e. Repo rate 6.50% 3.10%

(i) Bank deposits having maturity of less than 12 months.

(ii) The above Fixed deposits is given as collateral security to the banks against the Fund based, Non fund based working capital limits and term loans availed from the Banks.

(iii) The above Earmarked bank balance is related to share application money received on account of Initial Public Offer.

Accounting Standard 15 on ‘Employee Benefits‘ as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Accounting Standard) Rules, 2021.

(a) Defined Contribution Plans:

The Company makes Provident Fund and contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes. The company has recognized the following amounts in the Statement of Profit and Loss for the year.

(b) Defined Benefit Plans:

The Company has policy of giving gratuity to its employees who complete period of qualifying service which is 5 years.

The company’s plan assets in respect of Gratuity are funded through the Group Scheme of Life Insurance Corporation of India. The scheme provides for payment to vested employees as under:

i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of Payment of Gratuity Act, 1972 with vesting period of 5 years of service.

ii) On death in service: As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

(iii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the year.

(v) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that The Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

vii) The Company do not have any such transaction which is not recorded in the books of accounts and that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

viii) The company holds all the title deeds of immovable property in its name.

ix) The company is not declared as wilful defaulter by any bank or financial Institution or other lender.

NOTE NO. 34: Disclosure relating to Provision Provision for warranty

Warranty cost are provided based on a technical estimated of the costs required to be incurred for repairs, replacement, material cost, servicing based on past experience in respect of warranty costs. It is expected that this expenditure will be incurred over the contractual warranty period.

NOTE NO. 35: Details related to utilisation of Initial Public offering (IPO) proceeds.

During the year , the company has completed the inial public offer(IPO) parsuant to which 30,48,000 Equity shares of 10 each were allotted, at an issue price of Rs. 39.00 per Equity Share.The company has received the Approval letter from NSE dated 05th April 2022 stating that the company shall be listed on NSE Emerge platform w.e.f. 06th April, 2022. The gross proceeds from the IPO aggregated to Rs. 1188.72 lakhs and the corresponding issue related expenses paid amounted to Rs. 126.60 lakhs. The company has fully utilised the balance amount for the objects i.e to met its working capital requirements and general corporate purpose , as mentioned in the Prospectus . The proceeds of the issue were fully utilized as at 31 st March, 2023.

NOTE NO. 36:

The financial statements were authorized for issue in accordance with a resolution passed by the Board of Directors on 22nd May, 2023. The financial statements as approved by the Board of Directors are subject to final approval by its Shareholders.

NOTE NO. 37: Previous year's figures

The figures of previous year have been re-arranged and regrouped wherever necessary to make them comparable with those of the current