1 No trade receivables are due from directors or other officers of the company either severally or jointly with any other person.

2 Trade receivables are generally non interest bearing

3 Trade receivable includes due from related parties Rs 20,69,502/- ( Previous year Rs.2,34,12,702/-)

4 Ageing required as per Schedule III, to the companies act are furnished in note No. 37(xxii)

(ii) Rights, preferences and restriction attached to shares

The Company has one class of equity shares having a par value of Rs 10 per share. Each shareholder is eligible for one vote per share held. The dividend , if any , proposed by the Board of Directors is subject to the approval of the shareholders.

A Term Loans from State Bank of India is secured by way of :

a) First pari-passu charge on entire movable and immovable fixed assets of the company (including Land and Building) of the manufacturing unit at Kutch , Gujrat along with Indian Bank - for Term Loan

b) First charge over Factory Land and Building bearing survey no. Bigha, Biswa and sahi bushwansi, in Khasra No.9/0-17-0 and Khasra no.10/0-16-0,11/10-17-0,12/0-19-0,8/0-4-0,14/1 M/2-9-10, situated at village Acheja , Tehsil Dadri Dist. Ghaziabad, Gautam Budh Nagar(Uttar Pradesh) admeasuring total area 3 bigha,13 biswa,6 sahi, along with other term landers Indian Bank.

c) Second pari pasu charge entire movable fixed assets, both present and future, of the company's unit at Roorkee, Haridwar, both present & future to be shared with working capital lenders Indian Bank, IDBI Bank and HDFC Bank .

d) Second pari-passu charge on the entire movable and immovable fixed assets of the company, including land and construction thereon, both present and future, of the company's plant located at Dadri, district Ghaziabad (excluding land admeasuring 0.0253 hectares part of the existing factory land) to be shared with working capital lenders Indian Bank, IDBI Bank and HDFC Bank.

e) Second pari-passu charge on entire movable and immovable fixed assets of the company, including land and building construction thereon, both present and future, of the company's plant located at Bhadreshwar, Kutch, near Mundra Port, Gujarat with working capital lenders Indian Bank, IDBI Bank and HDFC Bank .Second pari-passu charge on entire movable and immovable fixed assets of the company, including land and building construction thereon, both present and future, of the company's plant located at Bhadreshwar, Kutch, near Mundra Port, Gujarat to be sharedwith IDBI bank .

f) Personal guarantee of Mr. Madhusudan Bagla , the Managing Director of the Company and sh Lalit Kumar Bagla and Ex Director of the Company.

g) The Term Loan is repayable in 24 Quarterly instalments, interest is payable on monthly basis

h) The COVID Emergency Credit Line (CCECL) Term Loan of Rs. 3.74 Crores sanctioned in 2020 of is repayable in 36 Monthly instalments, starting from Feb-2022, interest is payable on monthly basis.

i) The Emergency Credit Line (GECL) Term Loan of Rs. 5.00 crores sanctioned in 2022 of is repayable in48 Monthly instalments, starting from Jan 2024, interest is payable on monthly basis.

B Term Loans from Indian Bank is secured by way of :

a) First pari-passu charge on entire movable and immovable fixed assets of the company (including Land and Building) of the manufacturing unit at Kutch , Gujrat along with State Bank of India

b) First charge over Factory Land and Building bearing survey no. Bigha, Biswa and sahi bushwansi, in Khasra No.9/0-17-0 and Khasra no.10/0-16-0,11/10-17-0,12/0-19-0,8/0-4-0,14/1 M/2-9-10, situated at village Acheja , Tehsil Dadri Dist. Ghaziabad, Gautam Budh Nagar(Uttar Pradesh) admeasuring total area 3 bigha,13 biswa,6 sahi, along with State Bank of India

c) Second pari pasu charge entire movable fixed assets, both present and future, of the company's unit at Roorkee, Haridwar, both present & future to be shared with working capital lenders State Bank of India , IDBI Bank and HDFC Bank .

d) Personal guarantee of the Managing Director Mr. Madhusudan Bagla ,and Sh Lalit Kumar Bagla an Ex Director of the Company.

e) The Term Loan of is repayable in 24 Quarterly instalments, starting from June 2021, interest is payable monthly.

f) The COVID Emergency Credit Line (CCECL) Term Loan of Rs. 1.30 Crores sanctioned in 2020 is repayable in 30 Monthly instalments, starting from Nov-2020, interest is payable on monthly basis, Pre-Closed During the year.

i) The Emergency Credit Line (GECL) Term Loan of Rs. 3.30 Crores sanctioned in 2020 is repayable in 31 Monthly instalments, starting from March-2022, interest is payable on monthly basis.

C Loan from ICICI Bank YES Bank and Indian Bank are secured by way of hypothecation of the vehicle financed by them.

D Term Loans from IDBI Bank is secured by way of :

a) Extension of Charges on Second pari-pasu basis on primary and collateral securities charged for other facilities.

b) The Emergency Credit Line (CCECL) Term Loan of Rs. 1.61 Crores sanctioned in 2020 is repayable in 36 Monthly instalments, starting from March ,2022, interest is payable on monthly basis.

c) The Emergency Credit Line (CCECL) Term Loan of Rs. 1.53 Crores sanctioned in May 2022 is repayable in 48 Monthly instalments, starting from April,2024, interest is payable on monthly basis.

A Working Capital Loans from State bank of India , Indian bank , IDBI bank and HDFC Bank is secured by way of First pari passu

charge on the entire current assets of all three units of the company both present & future.

B Working Capital Loans from State bank of India , Indian bank, IDBI bank and HDFC Bank is secured by way of second pari

passu charge on the entire movable and immovable fixed assets both present & future of the company's unit located Unit located at Roorkee (Haridwar), Dadri (Uttar Pradesh) and Kutch (Gujarat), including land and building except land admeasuring 0.253 hectares [art of the existing factory land.

34 Government Grants

The Company has applied the requirements in Ind AS 109, Financial Instruments, and Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance.

35 Contingent liabilities not provided for in respect of:

(a) Bank Guarantees given by the Company Rs. 60.63 Lacs (Previous year Rs.59.73 Lacs)

(b) Foreign letter of credit opened with IDBI Bank, Indian Bank & HDFC Bank for import of Raw material etc. worth Rs. 237.57

Lacs (Previous year Rs. 989.91 Lacs) and domestic letter of credit for procurement of raw material from domestic supplier Rs. Nil (Previous year Rs. NIL)

(c) Central Sales tax payable for Assessment year 2013-14 in respect of its Roorkee unit, for which an appeal has been settle and paid full amount paid by company (Previous year 6.65 Lacs) but Department has file second appeal against the order

(d) Income Tax Penalty Demand pending in Appeals before Commissioner of Income Tax Appeals for Assessment year 2018-19, Rs. 15,72 Lacs

(e) Income Tax Demand pending for rectification before Assistant Commissioner of Income Tax (jurisdictional) for Assessment year 2014-15, Rs. 5.23 Lacs. the amount has already been paid /adjusted but due to some clerical oversight the demand is appearing on the Income tax portal, and the company has applied for rectification thereof.

(f) Income Tax Demand pending for rectification before Assistant Commissioner of Income Tax (jurisdictional) for Assessment year 2017-18, Rs.40,44 Lacs. the amount has already been settled, paid /adjusted under VIVad Se Vishwas Scheme 2020 but due to some clerical oversight the demand is appearing on the Income tax portal, and the company has applied for rectification thereof.

36 Estimated Amount of capital commitment for contracts remaining to be executed Rs 2.21 Crores (Previous year 4.56 Crores)

against which advances are given Rs. 0.86 Crores (previous year Rs.3.07 Crores).

37 Disclosures of the Additional Regulatory Information to the extent applicable to the company are made in compliance

with the amendments made in Schedule III to the Companies Act 2013 vide Notification No. GSR 207(E) dated 24th

March, 2021, are given as under:

i) The Title Deeds of the Property owned by the Company are held by the Company in its own Name, and the documents thereof are pledged with the State Bank of India.

ii) The Compny does not hold any property as Investment as any time during the year

iii) The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets)

iv) The Company does not have any intangible assets at any time during the year

v) The company has not granted Loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013) at any time during the year, except Rs. 1,00,00,000 shown in Note 37 (XXIV)

vi) The Company own Capital Work in Progress (CWIP) at the close of the financial year shown in Note no. 5.

vii) The Company does not have any Intangible assets under development at any time during the year

viii) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

ix) The company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from State Bank of India as lead banker in the consortium where IDBI, HDFC and Indian Bank are members. On the basis of returns or statements filed by the Company with banks are in agreement with the books of account of the Company except for statements filed for month ended 30 June 2022, 30 September, 2022 ,31 December 2022 and 31 March 2023 where differences were noted between the amount as per books of account for respective months and amount as reported in the quarterly statements

The difference were in case of Debtors amounting to Rs 197 Lakhs (amount reported to Bank - Rs 4,111 Lakhs Vs amount per books of account - Rs 4,308), Rs 15 Lakhs (amount reported to Bank - Rs 2,552 Lakhs Vs amount per books of account - Rs 2,567 Lakhs), Rs 31 Lakhs (amount reported to Bank - Rs 2,422 Lakhs Vs amount as per books of account - Rs 2,391 Lakhs) and Rs 118 Lakhs (amount reported to Bank - Rs 1,950 Lakhs Vs amount as per books of account - Rs 1,832 Lakhs) for quarter ended 30 June 2022, 30 September 2022, 31 st December 2022 and 31 st March 2023.

Further, Inventory had a difference of Rs 76 Lakhs (amount reported to Bank-Rs 4,982 Lakhs Vs amount per books of account- Rs 4,906), Rs 63 Lakhs (amount reported to Bank - Rs 4,792l Lakhs Vs amount per books of account - Rs 4,855 Lakhs), Rs 56 Lakhs (amount reported to Bank - Rs 4,082 Lakhs Vs amount per books of account - Rs 4,138 Lakhs) and Rs 31 Lakhs (amount reported to Bank - Rs4,588 Lakhs Vs amount per books of account - Rs 4,619 Lakhs ( Excluding “Raw Material in Transit” shown in Note no9.)) for quarter ended 30 June 2022, 30 September 2022, 31st December 2022 and 31st March 2023.

Further, Creditors had a difference of Rs 88 Lakhs (amount reported-Rs 2,073 Lakhs Vs amount per books of account- Rs 1,985), Rs 45 Lakhs (amount reported - Rs 554 Lakhs Vs amount per books of account - Rs 509 Lakhs) for quarter ended 30 June 2022 and 31st December 2022 and No difference in Quarter ended 30 September 2022 and and 31st March 2023.

Further that, Turnover had a difference of Rs 789 Lakhs (amount reported to Bank-Rs 12,593 Lakhs Vs amount per books of account- Rs 11,804), Rs 538 Lakhs (amount reported to Bank - Rs 7,869 Lakhs Vs amount per books of account - Rs 7,331 Lakhs), Rs 42 Lakhs (amount reported to Bank- Rs 7,557 Lakhs Vs amount per books of account - Rs 7,599 Lakhs) and Rs 990 Lakhs (amount reported to Bank - Rs 6,410 Lakhs Vs amount per books of account - Rs 5,420 Lakhs) for quarter ended 30 June 2022, 30 September 2022, 31st December 2022 and 31st March 2023 the differance is due to Inter-unit sales not excluded while submitted it to the Bank.

The overall impact on Working capital based on figures as per books of account as compared to the reported figures are, increase in working capital by Rs. 210 lakhs and Rs. 78 Lakhs and Rs. 70 Lakhs as on 30th June and 30th September and 31st Dececmber respectively. Whereas the working capital got reduced by Rs. 88 Lakhs as on 31st March 2023.

x) The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.

xi) The company has not entered into any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

xii) There are no charges or satisfaction of Charges yet to be registered with Registrar of Companies beyond the statutory period.

xiii) The Company does not have any subsidiary, hence the provision with regard to compliance with the number of layers for its holding in downstream companies prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017 are not applicable to the company.

xiv) During the year under report no Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

xv) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

xvi) The company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) 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(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

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

xviii) The Company does not have any transaction which are not recorded in the books of accounts that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

xix) The Company has not received any Government Grant or Subsidy during the year.

xx) Details Corporate Social Responsibility (CSR)

a) amount required to be spent by the company during the year, 40.30 Lakhs

b) amount of expenditure incurred, 40.30 Lakhs

c) shortfall at the end of the year Nil

d) total of previous years shortfall, Nil

e) reason for shortfall Nil

f) the company has undertaken Education, skilling, health, environmental sustainability, Meditation Centre

COVID-19 relief activities under its CSR activities and Education

g) the entire amount pf CSR has been spent through M/s Bagla Foundation - a related party.

38 Insurance Claim receivable includes following claims which are not yet settled and any variation therein will be accounted for in the year of actual realisation:

(i) Claim with The Universal Sompo General Insurance Company Limited for loss of finished goods and packing material and scrap under fire broke out on 28/04/2020 at 1st floor of the factory building at Dadri plant has been settled in current year at Rs.17.75 Lacs (Previous Year Rs.33.91 Lacs. ), The claim has been increased by the amount of GST Input Reversal of Rs Nil ( Prevous Year Rs. 2.50 Lacs ) during the year.

(ii) Claim with The Universal Sompo General Insurance Company Limited for loss of Raw Material,Finished Goods, packing material and Work in process under fire broke out on 30/04/2020 at Ground floor of the factory building at Dadri plant has been settled in current year at Rs. 86.49 Lacs (Previous Year Rs 129.79 Lacs). The claim has been increased by the amount of GST Input Reversal of Rs. ..NIL (Previous Year Rs 17.55 Lacs )during the year.

39 Balance with Indian Bank- Ahmadabad Rs.15,150 having no transactions during the year is subject to Confirmation.

40 Accrued benefits of duty free imports available to the company in form of transferable import licenses for completed export obligations, which are utilized / availed for own imports in subsequent financial year, have not been accounted for as the same has no impact on financial statements of the company.

41 In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances including amount recoverable from Income Tax, Goods and Service tax , Central Excise, Service Tax, VAT and deferred credit from suppliers all are in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet, all these debit/credit balances are subject to confirmations and adjustments, if any. The management is hopeful of recovering the debit balances, which are outstanding since a long.

42 The Roorkee Unit of Company has been registered under the Central Capital Subsidy Scheme 2003. The Company has received Capital Subsidy amounting to Rs.30.00 lacs during 2014-15 under the said scheme credited to capital reserves.

(B) Defined Benefit Plan (unfunded)

(a) A General description of the employees Benefit Plan:

The Company has obligation towards gratuity, a funded defined benefit retirement plan covering eligible employees. The plan provides for lump sum payment to vested employees at retirement, death while in employment or on termination of an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs upon completion of five years of service.

49 Figures of previous year have been re-grouped/re-arranged/re-cast wherever considered necessary.

50 The above audited results for the quarter and year ended 31st March, 2023 has been reviewed by the Audit committee and approved by the Board of Directors at their respective meetings held on 29 May, 2023.