1. Corporate information

BANKA BIOLOOLIMITED was initially incorporated as a Private Limited Company under Companies Act, 1956 on 31 August 2012. The Company was converted into a Public Limited Company on 15 November 2017. The Company is listed on the National Stock Exchange (NSE) (Emerge: SME Platform) on 27 February 2018. The Company is engaged in the business of manufacturing, supplying and installation of Bio toilets and operation and maintenance of Bio toilets and Controlled discharge toilet system (CDTS) to Indian railways.

a. The Company had made an Initial public issue of 10,98,000 equity shares of face value of Rs.10 each fully paid up for cash at a price of Rs.115/- per equity share (including a share premium of Rs.105/- per share) aggregating to Rs. 12,62,70,000/-/. The shares were allotted on 22 February 2018. The equity shares of the Company got listed on National Stock Exchange of India Limited (NSE) (Emerge: SME Platform) on 27 February 2018.

b. Rights, preferences, restrictions attached to equity shares

The company has only one class of shares having a face value of Rs. 10/- per share. All equity shareholders rank pari-passu in respect of dividend and voting rights. Each holder of equity shares is entitled to one vote per share.In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of preferential amounts, in proportion to their shareholding.

c. The Company had issued 28,88,846 equity shares of Rs.10 each for a consideration other than cash (Bonus issue) by capitalisation of security premium of Rs.2,07,01,807 and free reserves of Rs. 81,86,653/ -aggregating to Rs.2,88,88,460/-. The shares were alloted on 30 October, 2017.

Repayment terms and security details

1) Secured Loans

a. Vehicle loan from “Ford Credit India Pvt Ltd” sanctioned on 07 February 2017 of Rs. 9,00,000/- is repayable in 60 monthly installments ending on 05 February 2022 and carrying interest rate of 8.4% pa.

b. Vehicle loan from “Ford Credit India Pvt Ltd” is secured by hypothecation of motor car purchased against loan sanctioned.

2) Unsecured Loans

From Banks

a. Unsecured loan from “HDFC Bank Ltd” sanctioned on 20 February 2015 of Rs. 25,00,000/- is repayable in 48 monthly installments ending on 04 February 2019 and carrying interest rate of 16% pa.

b. Unsecured loan from “Kotak Mahindra Bank Ltd” sanctioned on 30 December 2016 of Rs. 25,00,000/

- is repayable in 36 monthly installments ending on 01 January 2020 and carrying interest rate of 17.50% pa.

c. Unsecured loan from “RBL Bank Ltd” sanctioned on 31 December 2016 of Rs. 30,00,000/- is repayable in 36 monthly installments ending on 05 January 2020 and carrying interest rate of 17% pa.

d. Unsecured loan from “Indusind Bank Ltd” sanctioned on 03 January 2017 of Rs. 25,00,000/- is repayable in 36 monthly installments ending on 04 January 2020 and carrying interest rate of 17.50% pa.

e. Unsecured loan from “Standard Chartered Bank” sanctioned on 01 February 2017 of Rs. 27,35,600/is repayable in 36 monthly installments ending on 13 February 2020 and carrying interest rate of 17% pa.

f. Unsecured loan from “Kotak Mahindra Bank Ltd” sanctioned on 28 December 2017 of Rs. 15,00,000/

- is repayable in 24 monthly installments ending on 10 December 2019 and carrying interest rate of 18% pa.

From NBFC’s

g. Unsecured loan from “Capital First Ltd” sanctioned on 27 October 2015 of Rs. 15,00,000/- is repayable in 36 monthly installments ending on 05 November 2018 and carrying interest rate of 19% pa.

h. Unsecured loan from “Bajaj Finance Ltd” sanctioned on 28 October 2015 of Rs. 20,20,000/- is repayable in 36 monthly installments ending on 02 November 2018 and carrying interest rate of 19.% pa.

i. Unsecured loan from “ReligareFinvest Limited” sanctioned on 02 November 2015 of Rs. 25,00,000/- is repayable in 36 monthly installments ending on 01 December 2018 and carrying interest rate of 19.10% pa.

j. Unsecured loan from “Magma Fincorp Limited” sanctioned on 07 November 2015 of Rs. 25,28,210/- is repayable in 48 monthly installments ending on 07 November 2019 and carrying interest rate of 20% pa.

k. Unsecured loan from “Bajaj Finance Ltd” sanctioned on 25 October 2016 of Rs. 9,09,000/- is repayable in 36 monthly installments ending on 02 November 2019 and carrying interest rate of 17.5% pa.

l. Unsecured loan from “Tata Capital Financial Services Ltd” sanctioned on 26 December 2016 of Rs. 25,13,591/- is repayable in 36 monthly installments ending on 03 January 2020 and carrying interest rate of 17.16% pa.

m. Unsecured loan from “Edelweiss Retail Finance Ltd” sanctioned on 31 December 2016 of Rs. 20,09,933/ - is repayable in 37 monthly installments ending on 05 January 2020 and carrying interest rate of 18% pa.

n. Unsecured loan from “India Infoline Finance Ltd” sanctioned on 03 February 2017 of Rs. 30,00,000/is repayable in 36 monthly installments ending on 03 February 2020 and carrying interest rate of 17.5% pa.

o. Unsecured loan from “Magma Fincorp Limited” sanctioned on 30 June 2017 of Rs. 25,39,186/- is repayable in 36 monthly installments ending on 07 July 2020 and carrying interest rate of 16.00% pa.

p. Unsecured loan from “India Infoline Finance Ltd” sanctioned on 21 November 2017 of Rs. 26,10,000/ - is repayable in 36 monthly installments ending on 03 November 2020 and carrying interest rate of 17.5% pa.

q. Unsecured loan from “ReligareFinvest Limited” sanctioned on 27 November 2017 of Rs. 25,00,000/- is repayable in 36 monthly installments ending on 10 December 2020 and carrying interest rate of 19.10% pa.

r. Unsecured loan from “Fullerton India Credit Company Limited” sanctioned on 13th December 2017 of Rs. 30,42,895/- is repayable in 37 monthly installments ending on 05 January 2021 and carrying interest rate of 18.00% pa.

s. Unsecured loan from “Aditya Birla Finance Limited” sanctioned on 05 January 2018 of Rs. 27,00,000/ - is repayable in 36 monthly installments ending on 05 January 2021 and carrying interest rate of 18.5% pa.

t. Unsecured loan from “IFMR” sanctioned on 02 February 2018 of Rs. 35,18,524/- is repayable in 36 monthly installments ending on 05 February 2021 and carrying interest rate of 19% pa.

Balance in escrow account represents un utilised proceeds received from public issue.

Bank deposits with less than 12 months maturity includes proceeds from public issue of Rs. 4,50,00,000/ -. Balance represents fixed deposits made against security deposits and performance gaurantees given to customers in terms of service/supply contracts entered with customers.

2 Contingent Liabilities and Commitments: Nil

3 Employee benefits

Employee benefits have been determined in accordance with the Accounting Standard (AS-15) “Employee Benefits”.

i. Defined contribution plans

Contribution to Provident fund which is a defined contribution plan, recognized as expense for the period is Rs. 21,80,779/-.(Previous year Rs.10,87,624/-.)

ii. Defined benefit plan

The company has a defined benefit gratuity plan. The gratuity is payable to all eligible employee of the company on superannuation, death and permanent disablement in term of provision of the payment of Gratuity Act or as per company’s scheme whichever is more beneficial. Benefit would be paid at a time of separation based on the last drawn salary.

The present value of the defined benefit obligation and the related current service cost are measured using the Projected Unit Credit Method, with actuarial valuations being carried out at each balance sheet date.

The following table sets out funded status of the gratuity plan and the amounts recognized in the Company’s financial statements as at 31 March, 2018.

4 The Company operates in one reportable segment i.e manufacturing, supplying and installation of Bio toilets and hence segment reporting as per AS-17 is not applicable.

5 In the opinion of the management, the current/non-current assets, loans and advances are expected to realize at least the amount at which they are stated, if realised in the ordinary course of business and provision for all known liabilities have been adequately made in the accounts.

6 The trade receivables, advance from customers & trade payables are subject to confirmation

7 No dues to Micro and Small Enterprises as per the information provided by the management.

8 The other information as required under part II of schedule III to the companies Act, 2013 is not furnished,since the said requirements are not applicable to the company for time being.

9 Previous year figures are regrouped / reclassified wherever necessary to make them comparable with those of current year.