1. In the opinion of Directors, Current Assets, Loans and Advances have the value at which these are stated in the Balance Sheet, if realized in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.

2. Contingent Liabilities:

a) Contingent Liabilities not provided for in respect of Bills Discounted Rs.1604.40 lakhs (Previous Year Rs. 2929.74 lakhs).

3. Earning in Foreign Exchange:

FOB value of export: Rs.44,379.76 Lakhs (Previous Year Rs.52,884.71 Lakhs).

4. The Management is of the view of that the fixed assets of the Company are capable of generating adequate returns over their useful lives in the course of business. Therefore the assets are not impaired and do not call for providing any loss.

5. The company has taken effort to verify the closing balances of the sundry creditors / Debtors subject to pending confirmations.

6. Additional Disclosure pursuant to clause 32 of Listing Agreement, (Excepting for employees) is not applicable as there are no transactions in that nature.

7. The previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amount and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

8. As per Ind AS 108 on “Segment Reporting”, segment information has been provided under the Notes to Consolidated Financial Statements

Financial instruments - Fair values and risk management

A. Accounting classification and fair values

Carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, are presented below. It does not include the fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

b) Segment Reporting : Segment identification, reportable segments

i) Primary/secondary segment reporting format:

The risk-return profile of the company’s business is determined predominantly by the nature of its products and services. Accordingly, business segments constitute the primary segments for disclosure of segment information.

ii) Segment Identification:

Business segment have been on the basis of nature of product/services, the ri-return profile of individual business.

iii) Reportable Segment:

Reportable segment has been identified as per the criteria specified in Ind AS 108 “Segment Reporting Issued by the Institute of Chartered Accountants of India.