The Group has only one class of equity shares having a par value of? U- Each holder of equity shares is entitled to one vote per share. The Group declares and pays dividend if any, in Indian rupees.The dividend proposed if any, by the Board of Directors is subject to the approval of the shareholders in the ensuingAnnual General Meeting.

In the event of liquidation of the company of Group, the holders of equity shares will be entitled to receive any of 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.

Security and Salient Terms:

(a) The Car Loan of? 244.09 lakhs (Previous Year ? Nil lakhs) is secured by hypothecation of the car.

Interest is payable @ 8.00% p.a. and is repayable in eighty four monthly instalments starting from February, 2023 and ending in January, 2030.

The Car Loan of? 25.00 lakhs (Previous Year ? Nil lakhs) is secured by hypothecation of the car.

Interest is payable @ 8.95% p.a. and is repayable in Sixty monthly instalments starting from April, 2023 and ending in March, 2028.

(b) Sales Tax deferred payment loan of? 74.58 lakhs (Previous Year ? 76.01 lakhs) is interest free and payable in instalments starting from April 2017.

Security and SalientTerms:

(a) Rupee loans of ?2222.38 lakhs (Previous Year ? Nil lakhs) exclusive charge by way of hypothecation on entire stock of Finished goods, Raw material, Stock in trade and Book debts of the Company, present and future. Exclusive charge by way of Hypothecation of Plant & Machinery of the Company. Corporate Guarantee of Asian Distributors Private Limited to the extent of market value of collateral proposed to mortgage.

(b) Rupee loans of ? 675.00 Lakhs (Previous Year ? Nil Lakhs) fresh additional working capital term loan under BGECL 1.0 extension scheme 100% guaranteed by NCGTC. Principal to be repaid in 36 monthly installment of? 18.75 Lakhs each plus interest commencing after 24 months from the date of first disbursement.

(c) Rupee loans of ? Nil lakhs (Previous Year ? 1390.37 lakhs) first charge by way of hypothecation of company’s entire paid up stock and trade receivables, present and future on pari pasu basis with other working capital bankers and second pari pasu charge over the land along with construcion thereon and all machineries situated at B-l 5/4, Ml DC, Aurangabad - 431 133 of the Group Company to be shared with other working capital bankers.

(d) Rupee loans of ? Nil lakhs (Previous Year ? 752.78 lakhs) first charge by way of hypothecation of company’s entire current assets on pari pasu basis with other working capital bankers and second pari pasu charge over the entire fixed assets of the Group Company to be shared with other working capital bankers.

(e) The rates of interest for rupee loan ranges from 9.70% p.a. to I 2% p.a.

Note 32: Balances of Sundry Creditors, Debtors, Loans and Advances and Other current assets are subject to confirmation.

Note 33: Employee Benefits:

(A) Defined Contribution Plans:

(B) Defined Benefit Plans :

I. (a) Contribution to Gratuity:

Provision for Gratuity has been made in the accounts based on an actuarial valuation carried out at the close of the year.The Company has funding arrangement with Birla Sun Life and Life Insurance Corporation of India, except forTools Division, in which case it is held under Indian Tool Employee Gratuity Fund, and the liability is discharged to the employees in the year of retirement / cessation of employment.

II. Leave Encashment:

The leave encashment provision for the year ended 31st March, 2023, based on actuarial valuation carried out using projected unit credit method amounting to ? 53.30 Lakhs (PreviousYear ? 7.98 Lakhs) has been recognized in statement of profit and loss.

The fair value of other current financial assets, cash and cash equivalents, trade receivables, trade payables, shortterm borrowings and other financial liabilities approximate the carrying amounts because of the short term nature of these financial instruments.

The amortised cost using effective interest rate (ElR) of non current financial assets consisting of security and term deposits are not significantly different from the carrying amount.

Financial assets that are neither past due nor impaired includes cash and cash equivalents, security deposits, term deposits and other financial assets.

The impact of fair value on non current borrowings, non current security deposits and non current term deposits are not significant and therefore the impact of fair value is not considered for above disclosure.

Note 37: Fair value hierarchy:

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

*Level I - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

' Level 2 - Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

*Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level I fair value measurements.

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

The carrying amounts of borrowings, trade payables, other financial liabilities and other current liabilities are considered to approximate their fair values due to their short term nature.They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including own and counterparty credit risk.

The Company is exposed to various financial risks.These risks are categorized into market risk, credit risk and liquidity risk. The Company’s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk such as equity price risk and commodity risk. Financial instruments affected by market risk include borrowings and derivative financial instruments.

(i) Interest rate risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.The Company exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates.

(ii) Foreign currency risk:

The Company is exposed to foreign currency risk arising mainly on borrowing, export of finished goods and import of raw material. Foreign currency exposures are managed within approved policy parameters utilising forward contracts.

(B) 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 principally from the statutory deposits with regulatory agencies and also arises from cash held with banks and financial institutions.The maximum exposure to credit risk is equal to the carrying value of the financial assets.The objective of managing counterparty credit risk is to prevent losses in financial assets.The Company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors.

The Company limits its exposure to credit risk of cash held with banks by dealing with highly rated banks and institutions and retaining sufficient balances in bank accounts required to meet a month’s operational costs.The Management reviews the bank accounts on regular basis and fund drawdowns are planned to ensure that there is minimal surplus cash in bank accounts.The Company does not foresee any credit risks on deposits with regulatory authorities.

(C) Liquidity risk:

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due.The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due.

Note 39: Capital management:

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders.The primary objective of the Company’s capital management is to maximize the shareholder value and to ensure the Company’s ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. Total debt mainly comprises of borrowings from banks, financial institutions and Unsecured Loans.The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

Note 40: Corporate social responsibility:

(A) Gross amount spend by the Company towards Corporate Social Responsibility is ? Nil Lakhs (PreviousYear ? Nil Lakhs).

(B) No expenditure has been paid to a related party, in relation to CSR expenditure as per Ind-AS 24, Related Party Disclosures.

Note 41: Previous year figures have been regrouped/ reclassified to confirm presentation as per Ind AS as required by Schedule III of theAct.