Cash credit & Buyers Credit facility / Working Capital Loan from Bank of Baroda, Defence Colony amounting to Rs. 3797.12 lacs (Previous year Rs. 2364.69 lacs) together with interest and other charges are secured by way of hypothecation of all Company's Stock in trade and Book Debts, both present and future. This facility is further secured by way of hypothecation of immovable fixed assets of the company and personal guarantee of the directors.

26. Segment Information

Primary Segments

The following is the distribution of the Company’s consolidated sales (net of Goods and Service T ax) by geographical market, regardless of where the goods were produced.

27. Contingent liabilities (not provided for) in respect of

The short-term employee benefits such as salaries, wages and bonus etc., are accounted for on accrual basis. As per management, the other long term employee benefits will be accounted for on payment basis.

32. Fair Value Measurement_

1. The carrying amounts of trade payables, other financial liabilities (current), other financial assets (current), borrowings (current), trade receivables, cash and cash equivalents and other bank balances have not been revalued due to their Short term nature and calculated on Closing Value.

2. Borrowings (non-current) consists of loans from banks and other parties consists of interest accrued but not due.

Fair value of instruments is classified in various fair value hierarchies based on the following three levels :

Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2 : The fair value of financial instruments that are not traded in an active market is determined using valuation techniques, which maximise the use of observable market data and rely as little as possible on entity specific estimates. If significant inputs required to fair value an instruments are observable, the instrument is included in Level 2.

33. Corporate Social Responsibility_

The Provisions of Corporate Social Responsibility are not applicable to the Company in terms of Section 135(1) of the Compaies Act, 2013

34. Note on COVID:_

The outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Businesses are being forced to cease or limit their operations for long or indefinite period of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Our company’s performance from the month of March was effected as the Quarter end activities relating to sales and revenue could not be completed. Further, there was effect also in the ensuing months as the entire field force was unable to perform in field and generate the secondary demand to the desired levels. However, company took immediate steps to counter the impact and has been able to salvage the situation. Third party verifications of Inventories and debtors could not be carried out at the end of year and are based on management certification.

35. Income Tax assessment has been completed up to assessment year 2022-23. Sales Tax assessment has been completed up to financial year 2017-18.

36. These accounts have been prepared after consideration of Sanctioned Scheme of amalgamation of Priceless Overseas Limited with Marble City India Limited (Formerly Known as P G Industry Limited) and order of Hon'ble National Company Law Tribunal, Delhi, dated 24th

37. In the opinion of the management, all the Current Assets, Loan and Advances have a value at which they are stated in the Balance Sheet, if realized in the ordinary course of the business and the provision for all known liabilities are adequate and are not in excess of the amount

38. The amount of Sundry Debtors, Creditors and Advances from/to Parties outstanding as on 31 st March 2024 have been shown in the Balance Sheet at Net Realizable Value.

39. Internal Financial Controls and Internal Audit_

The Board of Directors of the Company is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

The Company has not received any memorandum/declaration (as required to be filed by the suppliers with the notified authority under the Micro, Small and Medium Enterprises Development Act, 2006) claiming their status as on 31 st March 2024 as micro, small or medium enterprises. Consequently, the amount paid/payable to these parties during the year is Nil.

41. Additional Regulatory Information in terms of Schedule III to Companies Act, 2013_

(i) Title deeds of Immovable Properties have been held in the name of the Company.

(ii) The Company has not revalued its Property, Plant and Equipment and Intangible assets.

(iii) Loans or advances in the nature of loans granted to Promoters, directors, KMPs and other related parties:

(vi) No proceedings have been inititiated or pending against the Company for holding any benami Property under the Benami Transactions (Prohibition) Act, 1988 and the rules made thereunder.

(vii) Quarterly returns or statements of Current assets filed by the Company with Bank of Baroda, Defence Colony, New Delhi are in agreement with the Books of Accounts.

(viii) The company has not been declared wilful defaulter by any bank or Financial institution or other lender.

(ix) The company has not made any transaction with any company whose name is struck off under section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956.

(x) No charge or satisfaction is pending to be registered with ROC beyond the statutory period.

(xi) There is no subsidiary of the Company. Therefore, provisions of Section 2(87) read with Companies (Restriction on number of Layers) Rules, 2017 are not applicable.

(xii) The company has not entered into any scheme of arrangements during the year.

(xiii) Ratios:

Explanation of Ratios wherein change of more than 25% as compared to Previous year:

Debt-Equity Ratio (Long term debt/ Shareholder's Equity)

The Company has taken additional debt from sources othan than FIs to make investment in Working Capital. Management is expecting that it will increase the revenue in the long run and it will be beneficial for the Company.

Debt Service Coverage Ratio (Earnings for Debt Service/ Debt Service)

The Company has taken additional debt from sources othan than FIs to make investment in Working Capital. Management is expecting that it will increase the revenue in the long run and it will be beneficial for the Company.

Inventory T urnover Ratio (Inventory/ Revenue)

Turnover of the Company decreased during the FY 2023-24 due to Red Sea shipping crisis, characterized by the unfortunate attacks on cargo ships by pirates/terrorists, resulted in a significant blockade in the importation of new Marble Blocks/ Tiles.

Trade Receivables T urnover Ratio (Revenue/ Trade receivables)

This Ratio has been decreased due to decrease in turnover of the Company during the Current Financial Year.

Trade Payables Turnover Ratio (Purchases/ Trade Payables)

This Ratio has been increased due to decrease in trade payables level of the Company during Current the Financial Year.

Net Capital Turnover Ratio (Revenue/ Working Capital)

This Ratio has been decreased due to decrease in turnover and increase in working capital of the Company during the Current Financial Year.

(xiv) The Company has neither traded nor invested in Crypto or Virtual Currency during the financial year.

(xv) Utilization of Borrowed funds and Share premium:

i) The company has 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

a) 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

b) provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

ii) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding party) with the

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) provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

42. Previous year figures have been re-arranged/re-grouped wherever necessary.

43. The Company is required to designate Managing Director, CFO and CS as Key Managerial Personnal of the Company. Mr. Saket Dalmia, Managing Director and Mr. Davender Kumar, Company Secretary are Key Managerial Personnal of the Company. The Company is trying, at its best, to appoint C.F.O.

44. In the opinion of directors, current assets and loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which these have been stated in the Balance Sheet.

45. Borrowings from Banks and Financial Institutions:

Company has used the Borrowings from Banks or financial institutions for the specific purpose for which it was taken at the Balance Sheet

46. Undisclosed Income:

The Company does not have any transactions not recorded in the books of accounts 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). Also, there are nil previously unrecorded income and related assets.

47. Managerial Remuneration:

The company has paid/provided for the managerial remuneration in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V of the Act.

48. Notes No’s 1 to 47 form an integral part of Balance Sheet and Statement of Profit and Loss Account.