2.17 Provisions, Contingent Liabilities and Contingent Assets

Provision is recognized only when there is a present obligation as a result of past events and when reliable estimates of
the amount of the obligation can be made. Contingent liability is disclosed for:

a) Possible Obligations which will be confirmed only by future events not wholly within the control of the company or

b) Present obligations arising from past events where it is not probable that an outflow of resources will be required to
settle the obligation or reliable estimates of the amount of the obligation cannot be made. Contingent Assets are not
recognized in the financial statements since this may result in the recognition of income that may never be realized.

• Financial Risk management objectives

The Company’s businesses are subject to several risks and uncertainties including financial risks. The Company’s
documented risk management polices act as an effective tool in mitigating the various financial risks to which the business
is exposed to in the course of their daily operations. The risk management policies cover areas such as liquidity risk,
commodity price risk, foreign exchange risk, interest rate risk, counterparty and concentration of credit risk and capital
management. Risks are identified through a formal risk management programme with active involvement of senior
management personnel and business managers. The Company has in place risk management processes in line with the
Company’s policy. Each significant risk has adesignated ‘owner’ within the Company at an appropriate senior level. The
potential financial impact of the risk and its likelihood of a negative outcome are regularly updated.

The risk management process is coordinated by the Management Assurance function and is regularly reviewed by the
Company’s Audit Committee. The Audit Committee is aided by the CFO Committee and the Risk Management Committee,
which meets regularly to review risks as well as the progress against the planned actions Key business decisions are
discussed at the periodic meetings of the CFO Committee and the Executive Committee. The overall internal control
environment and risk management programme including financial risk management is reviewed by the Audit Committee
on behalf of the Board.

• Liquidity Risk management

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are required to be settled by delivering cash or another financial asset. The Company manages liquidity risk
by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an
adequate amount of committed credit facilities to meet the obligations when due. The management prepares annual
budgets for detailed discussion and analysis of the nature and quality of the assumption, parameters etc.

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with
agreed repayment periods. The information included in the tables have been drawn up based on the undiscounted cash
flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include
both interest and principal cash flows. The contractual maturity is based on the earliest date on which the Company may
be required to pay.

Note 47 Segment Reporting

The Company is predominantly engaged inmanufacturing Compounds, Blends and Alloys of Engineering, Specialty and
Commodity Polymers, thus operates in a single business segment. The Company is operating in India, which is considered
as single geographical segment. Accordingly, no disclosure is required under Ind AS 108.

Note 48

The Company has used the borrowings from Banks and Financial Institutions for the Specific purpose for which it was
taken at the Balance Sheet date.

Note 49 BENAMI PROPERTY

No proceedings have been initiated or are pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

Note 50 WILFUL DEFAULTER

Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

Note 51 RELATIONSHIP WITH STRUCKOFF COMPANIES

Management has represented that it does not have any transaction with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956.

Note 52 REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES

The Company has complied with registration of charges on secured borrowings from bank. No charge or satisfaction is yet
to be registered with Registrar of Companies beyond the statutory period.

Note 53

The Company have not traded or invested in Crypto currency or Virtual Currency during the year.

Note 54

The Company have 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. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

Note 55

The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

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. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

Note 56

The Company do not have any such transaction which is 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)

Note 57

The company has granted advances in the nature of loan of Rs. 26.03 Lakhs during the year to directors that are repayable
on demand without specifying any terms or period of repayment. However the same is received back and amount
outstanding as on 31st March 2025 is NIL.

Note 58

Compliance with number of layers of the companies as per section 2(87) of the Companies Act read with Companies
(Restriction on number of Layers) Rules 2017 is not required as the Company has no investment in any entity at any point
of time during the year.

Note 59

The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) neither in current
year nor in previous year.

Note 60

Lease payments are recognized in the Statement of Profit and Loss as Rent Expense in "Other Expenses".

Note 61 ADDITIONAL REGULATORY INFORMATION

Additional Information pursuant to Provisions of Paragraph 6 of Part I of Schedule III and Paragraph 5 of Part II of Schedule
III to the Companies Act, 2013 has been furnished to the extent applicable in view of the nature of business of the
Company.

Note 62

The outstanding balances of Trade Payables, Unsecured Loans, Trade Receivables, Deposits and Loans & Advances are
subject to confirmation.

Note 63

Wherever Supporting were not available for verification, same are accepted on being approved by the management.

Note 64

Previous year’s figures have been regrouped wherever necessary to make them comparable with those of the current year.
Signature to Notes 1 - 64

For Mukund & Rohit For & on behalf of the Board

Chartered Accountants Axel Polymers Limited

Registration No. 113375W

sd/- sd/-

sd/-

Vinay Sehgal Gaurav Thanky Tejas Bhatt

Partner Managing Director Chief Financial Officer

Membership No: 109802 DIN: 02565340

Ashish Chaudhary
Company Secretary

Place: Vadodara Place: Vadodara

Date: 29.05.2025 Date: 29.05.2025