t. Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a legal or
constructive obligation as a result of past events and it is probable that there will be an outflow of resources
and a reliable estimate can be made of the amount of obligation. Provisions are not recognised for future
operating losses. The amount recognized as a provision is the best estimate of the consideration required to
settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation.

Contingent liabilities are not recognized and are disclosed by way of notes to the financial statements when
there is a possible obligation arising from past events, the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company or when there is a present obligation that arises from past events where it is either not probable
that an outflow of resources will be required to settle the same or a reliable estimate of the amount in this
respect cannot be made.

Contingent assets are not recognised but disclosed in the Financial Statements by way of notes to accounts
when an inflow of economic benefits is probable.

u. Government Grants

Under Ind AS 20, Government grants are recognized on systematic basis when there is reasonable certainty
that the company will comply with conditions and will receive the grants. Revenue grants including
subsidy/rebates are credited to the Statement of Profit and Loss Account under “Other Operating Income" or
deducted from the related expenses for the period to which these are related. Grants which are meant for
purchase, construction or otherwise acquire non-current assets are recognized by deducting it from the
asset's carrying amount. Government grants in the form of non-monetary assets, like land, are assessed at fair
value. The company recognize both the grant and the asset at fair value. Further, deferred tax is not required
to be recognised in respect of non-taxable government grant where the grant is deducted from carrying
amount of asset.

v. Statement of Cash Flow

Cash flows are reported using the 'indirect method' as set out in Ind AS 7, whereby profit for the year is
adjusted for the effect of transactions of a non-cash nature, any deferrals or accruals of past and future
opening cash receipts or payments and item of income and expenses associated with investing or financing
cash flow. The cash flow from operating, investing and financing activities of the company are segregated. The
company considers all high liquid investments that are readily convertible to known accounts of cash to be
cash equivalents.

Foot Note:

a) The company does not have any loans which are either credit impaired, disputed or whether there is
a significant increase in risk except as disclosed above.

b) No loans receivable are due from directors or other officers of the company either severally or jointly
with any other person, nor any loan receivable are due from firms or private companies in which any
director is a partner, a director or a member.

c) A borrower of the company (disclosed in non-current loans) repaid the outstanding loan amount
including interest of ^ 59106.00 thousand and also paid compensation of ^ 30894.00 thousands for
delay in repayment of loan during the FY 2024-25.

d) Details of loan given by the company as required in terms of Sec 186(4) of the Companies Act, 2013

a) Deferred tax on account of difference in the Written Down Value on Property, Plant &
Equipments and Intangible assets as per Companies Act and as per Income Tax Act
determined at the rate of 25.168 %

b) Deferred tax on account of difference in expenses related to provision for doubtful debts
as per books and income tax determined at the rate of 25.168 %

c) Deferred tax on account of unrealised gain on unlisted equities carried at fair value through
OCI determined at the rate of 13.91 % and on mutual fund at the rate of 25.168 % .

d) Deferred tax on account of carry forward business losses as per income tax Act
determined at the rate of 25.168 %

may be situated including any such raw materials, articles or goods, stores, spares,
consumables and stock in trade in the course of delivery to the Borrower; and

c) all the present and future book debts of the the company which the borrower is entitled
during the continuance of the loan agreement.

ii) No personal guarantee given by the Directors of the the company. However, Corporate
Guarantee given by one of the group company namely Tetron Commercial Limited against
the working capital loan taken to the extent of ^ 6.00 crores.

iii) The Company closed its Term Loan account with Canara Bank on 23rd April, 2024 by
prepayment of its outstanding loan amount with interest due of ^ 65581.00 thousand.
Further, the company increased Working Capital Loan (OSD) limit from ^ 3.00 crores to
^ 6.00 crores during the year which is repayable on demand. Modification of charge filed
accrodingly.

iv) Unsecured loan borrowed at interest rate of 12.50% from a group company M/s Tetron
Commercial Limited for business purpose and the same is repayable on demand (to be
paid within 31st March,2026)

v) There is no default in repayment of borrowings and interest as on the balance sheet date.

Foot Note: During the year ended 31st March,2025 and 2024 the company has elected to exercise the
option of tax rate of 25% plus applicable surcharge plus cess thereon to avail MAT credit available and not
opted section 115BAA of the Income Tax Act,1961.

Note 33

FINANCIAL RISK MANAGEMENT (As per Ind- AS 107)

Financial risk factors

The Company's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk.
a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market risk comprises three types of risks: foreign currency risk, interest rate
risk and others price risk. Financial instruments affected by market risk include borrowings, investments,
trade payables, trade receivables, loans, and other financial instruments.

i) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because
of changes in foreign exchange rates. Presently, the Company has no exposure in foreign currency so there is
no risk of changes in foreign exchange rates relates primarily to the Company's foreign currency
denominated borrowings, trade receivables and trade or other payables. Hence, the Company has no need
to adopt a comprehensive risk management review system wherein it has to actively hedge its foreign
exchange exposures within defined parameters through use of hedging instruments such as forward
contracts, options and swaps.

ii) Interest Rate Risk

The company's exposure in market risk relating to change in interest rate primarily arises from floating rate
borrowing with banks and financial institutions. Borrowings at fixed interest rate exposes the company to
the fair value interest rate risk. The company maintains a portfolio mix of fixed and floating rate borrowings.
As at March 31, 2025, approximately 79.40 % (March 31, 2024: 64.79 %) of the company's borrowings
become floating rate interest borrowing. Further there is no any deposit with bank and hence no exposure
to interest rate risk.

With all other variables held constant, the following table demonstrates the impact of the borrowing cost
on floating rate portion of loans and borrowings and excluding loans on which interest rate swaps are taken.

iii) Others Price Risk

The Company's equity exposure in group companies is carried at book value of last audited
financial results of that company and these are subject to impairment testing as per the policy
followed in this respect. The company's current investments are fair valued through OCI. The
company invest in mutual fund schemes of leading fund houses. Such investments are
susceptible to market price risk that arise mainly from changes in interest rate which may
impact return and value of such investments. The Company's exposure to equity securities
and mutual funds, price risk from movement in market price of related securities classified
either as fair value through OCI or as fair value through Statement of Profit and Loss.
b) Credit Risk

Credit risk is the risk that counter party will not meet its obligations under a financial
instrument or customer contract, leading to a financial loss. The Company is primarily
exposed to credit risk from its operating activities (trade receivables), investments and grant
of unsecured loans to known parties. The management has a credit policy in place and the
exposure to credit risk is monitored on an ongoing basis. The Company periodically
assesses the financial reliability of customers, taking into account the financial condition,
current economic trends and ageing of accounts receivable. Individual risk limits are set
accordingly and the company takes necessary steps to minimize the risk.

The carrying amount of respective financial assets recognized in the financial statements,
(net of impairment losses) represents the Company's maximum exposure to credit risk. The
concentration of credit risk is limited due to the customer base being large and unrelated. Of
the trade receivables balance at the end of the year, there are two customers accounted for
more than 10% of the revenue as at March 31,2025. There is one customer under trade
receivables (Refer Note 11) which have significant increase in credit risk against which
provision for liability considered in financial statement.

The Company extends credit to customers as per the internal credit policy. Any deviation is
approved by appropriate authorities, after due consideration of the customers credentials
and financial capacity, trade practices and prevailing business and economic conditions. The
Company's historical experience of collecting receivables and the level of default indicate
that credit risk is low and generally uniform across markets; consequently, trade receivables
are considered to be a single class of financial assets. All overdue customer balances are
evaluated taking into account the age of the dues (Refer Note 30), specific credit
circumstances, the track record of the customers etc.

Financial assets that are neither past due nor impaired

Cash and cash equivalents, investment and other financial assets are neither past due nor
impaired. Cash and cash equivalents with banks are held with reputed and credit worthy banking
institutions.

Financial assets that are past due but not impaired

Trade receivables amounts that are past due at the end of the reporting period against which no
credit losses have been expected to arise.

Financial assets that are past due but impaired

Trade receivables amounts that are past due and against which credit loss is expected,
reasonable provision made in books for impairment at the end of the reporting period.
c) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its
obligations on time or at a reasonable price. The Company's objective is to maintain optimum

level of liquidity to meet it’s cash and collateral requirements at all times. The Company relies on
borrowings and internal accruals to meet its long term and short- term funds requirement. The
current committed line of credit is sufficient to meet its short to medium term funds requirement.
Liquidity and interest risk tables:

The following tables detail the Company’s remaining contractual maturity for its non-derivative
financial liabilities with agreed repayment periods. 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 as at balance
sheet date:

Note 34

CAPITAL MANAGEMENT

For the purpose of managing capital, capital includes issued equity share capital and reserves attributable to
the equity shareholders. The objectives of the company’s capital management are to: i) Safeguard their ability
to continue as going concern so that they can continue to provide benefits to their shareholders ; ii) Maximize
the wealth of the shareholder and iii) Maintain optimum capital structure to reduce the cost of the capital.

The Company manages its capital structure and makes adjustment in light of changes in economic conditions
and requirement of financial covenants. In order to maintain or adjust the capital structure, the company may
adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

In order to achieve this overall objective, the company’s capital management, amongst other things, aims
to ensure that it meets financial covenants attached to the loans and borrowings that define capital
structure requirements. There have been no breaches in the financial covenants of any loans and
borrowing in the current period.

Note 35

DISCLOSURES IN ACCORDANCE WITH IND AS 19 (2015) ON “EMPLOYEES BENEFITS”:

a) Defined Contribution Plans

The Company made contributions towards Provident Fund, a defined contribution retirement
benefit plan for qualifying employees. The Provident Fund Plan is operated by the Regional
Provident Fund Commissioner. The company also contributes towards Employees State
Insurance Scheme for the sickness benefit, disablement benefit, dependents benefit, maternity
benefit and medical benefit of the employees. The contribution payable to these plans by the
company are at rates specified in the rules of the scheme.

I. Gratuity

The Company provides for gratuity, a defined benefit retirement plan (‘the Gratuity Plan') covering
eligible employees. The Gratuity Plan provides a lumpsum payment to vested employees at
retirement, death, incapacitation or termination of employment, of an amount based on the
respective employee's salary and the tenure of employment with the company. Liabilities with
regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent
actuary, at each Balance Sheet date using the projected unit credit method. The Company
contributes all ascertained liabilities to the Gratuity Fund maintaining with Life Insurance
Corporation of India Ltd.

The Company recognize the net obligation of a defined benefit plan in its Balance Sheet as a
liability and accordingly makes contribution to recognized gratuity fund maintained with LIC of
India and recognized in balance sheet as an asset. Gains and losses through remeasurements of
the net defined benefit liability/(asset) are recognized in other comprehensive income and are not
reclassified to profit or loss in subsequent periods. The actual return of the portfolio of plan
assets, in excess of the yields computed by applying the discount rate used to measure the
defined benefit obligation is recognized in other comprehensive income. The effect of any plan
amendments is recognized in net profit in the profit or loss.

(v) Majority of the Company's sales are against advance. Where sales are made on credit, the
amount of consideration does not contain any significant financing component. As per the terms
of the contract with its customers, either all performance obligations are to be completed within
one year from the date of such contracts or the Company has a right to receive the consideration.
Accordingly, the Company has availed the practical expedient in terms of Ind AS 115 and
disclosures with respect to performance obligations remaining unsatisfied (or partially
unsatisfied) at the balance sheet date have not been made.

Note 37

A. Operating Segment Reporting (Ind AS- 108)

An operating segment is a component of the Company that engages in business activities from
which it may earn revenues and incur expenses, including revenues and expenses that relate to
transactions with any of the Company's other components, and for which discrete financial
information is available. All operating segments' operating results are reviewed regularly by the
board of directors of the Company, which has been identified as being the Chief Operating
Decision Maker (CODM) to make decisions about resources to be allocated to the segments and
assess their performance.

The Company’s primary business segment is Packaged Food Product. Based on the dominant
source and nature of risk and returns of the Company, its internal organization and management
structure and its system of internal financial reporting, packaged food product segment has been
identified as the primary segment and the financial information are presented in the table below:

Note 38

Events after the Reporting Period (As per Ind AS-10)

The Company filed four writ petitions before Hon. High Court, Cuttack against the Odisha
Sales Tax Tribunal order received on 12-03-2025 for the F.Y. 1988-89 for ? 2047.84 thousand,
F.Y 1989-90 for ? 2143.60 thousand, F.Y. 1994-95 for ? 517.14 thousand and F.Y. 1995-96 for
? 427.55 thousand challenging the Orders passed by Odisha Sales Tax Tribunal, Cuttack.

Note 39

Other Information:

a) During the current financial year, a borrower of the company (disclose in non-current financial
assets) repaid the outstanding loan and interest amount of Rs 59106.00 thousand and also
paid compensation of ? 30894.00 thousands for delay in repayment of loan. The
compensation amount considered as exceptional item and shown separately in the statement
of profit and loss after set-off of expenses related to that.

b) No fresh provision for doubtful debts made during the current financial year against trade
receivables which have significant increase in credit risk, as total provision made for doubtful
debts till 31st March, 2024 was 100% of the total outstanding amount due for more than 36

months from a party M/s Tyche Stone Works. A legal suit has been filed against the debtor and
the matter is still pending the XV Additional Judge Court of Small Causes, Bengaluru.

c) The Indian Parliament has approved the Code on Social Security, 2020 which would impact the
contributions by the company towards Provident Fund, ESI, maternity leave and Gratuity. The
Ministry of Labour and Employment has released draft rules for the Code on Social Security,
2020 on November 13, 2020, and has invited suggestions from stakeholders which are under
active consideration by the Ministry. The Company will assess the impact and its evaluation
once the subject rules are notified and will give appropriate impact in its financial statements in
the period in which, the Code becomes effective and the related rules to determine the financial
impact are published.

d) During the year the company installed 2 new packing machines lines with a cost of ? 15589.50
thousands. Earlier the company have 8 packing machines and by adding 2 new machines the
packing capacity increased from 8 tons per day to 10 tons per day.

e) During the year the company incurred an expenditure of ? 2898.41 thousands to increase the
storage capacity of finished goods by installing mezzanine floor metal structure and racks.

f) During the financial year, the company planned to introduce a new product under its brand name
'Skitos ', comprising fruit-based beverages in various flavours. The production was proposed to
be carried out through job work arrangements with third-party manufacturers. This initiative was
part of the company's strategy to diversify its product portfolio and tap into the growing market
for ready-to-drink fruit beverages.

However, as of 31st March 2025, the project had not progressed to the stage of commercial
sales. While certain preparatory steps and initial planning were undertaken during the year, no
sales transactions related to the fruit drinks had been recorded in the books by the end of the
reporting period.

41.5 Terms and Conditions of transactions with related parties

a. The transactions with related parties have been entered at an amount which are not
materially different from those on normal commercial terms;

b. The amounts outstanding are unsecured and will be settled in cash and cash equivalent.
No guarantees have been given or received excluding disclosed in Note 41.2.13.

c. The remuneration to KMPs' were determined by the NRC having regard to the
performance of individuals and market trends.

41.6 In respect of the above parties, there is no provision for doubtful debts as on 31st March,
2025 and no amount has been written off or written back during the year in respect of debt
due from/ to them.

41.7 No Loans and Guarantees are given under 186(4) of the Companies Act, 2013 and details
of Investments is given in note no.-4

Note 42

Additional regulatory information required by Schedule III

(i) Details of benami property held: No proceedings have been initiated or pending against
the company under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the
rules made thereunder.

(ii) Willful defaulter: The Company is not declared willful defaulter by any bank or financial
Institution or government or any government authority.

(iii) Relationship with struck off companies: The Company has no transactions with
companies struck off under section 248 of the Companies Act, 2013 or section 560 of
Companies Act, 1956.

(iv) Compliance with number of layers of companies: The company has no subsidiary
therefore the compliance of the number of layers prescribed under clause (87) of section 2
of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not
applicable.

(v) Utilisation of borrowed funds and share premium : 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(ies), including foreign entities
(Intermediaries) with the understanding (whether recorded in writing or otherwise) 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.

The Company has 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

(vi) Undisclosed income: There is no income surrendered or disclosed as income during the
current or previous period/year in the tax assessments under the Income Tax Act, 1961,
that has not been recorded in the books of account.

(vii) Details of crypto currency or virtual currency: The Company has not traded or invested
in Crypto currency or Virtual Currency during the financial period/year.

(viii) Valuation of PPE, intangible asset and investment property: The Company has not
revalued its Property, Plant and Equipment (including Right-of-Use Assets) or intangible
assets or both during the current or previous year.

(ix) Title deeds of immovable properties not held in name of the company: The title deeds
of all the immovable property are held in the name of the company.

(x) Registration of charges or satisfaction with Registrar of Companies (ROC): There
are no charges or satisfaction which are yet to be registered with ROC beyond the statutory
period.

(xi) Utilisation of borrowings availed from bank and financial institutions: The Company
utilized all borrowings during the reporting period from banks and financial institutions for
business purpose only.

(xii) No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013), either severally or jointly
with any other person.

Note 43.

Previous year figures have been regrouped or reclassified wherever considered necessary to
conform to current year’s classification. The impact of such reclassification/ regrouping is not
material to the financial statement.

Signature of Notes 1 to 43 as per our annexed report of even date.

For G. K. Tulsyan & Company For and on behalf of the Board of Directors of

Chartered Accountants Ceeta Industries Limited

Firm Registration No.- 323246E

Krishna Murari Poddar Avinash Kumar Khaitan

Managing Director Director

G. K. Tulsyan DIN : 00028012 DIN : 06936383

Partner

Membership No. 050511 Anubhav Poddar Smally Agarwal

UDIN : 25050511B0EPEE3548 Chief Financial Officer Company Secretary

Place : Kolkata Mem. No.- A56522

Dated: 30th May 2025