13. PROVISIONS AND CONTINGENT LIABILITIES

A provision is recognized if, as a result of a past
event, the Company has a present legal obligation
that is reasonably estimable, and it is probable that
an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by
the best estimate of the likely future outflow of eco¬
nomic benefits required to settle the obligation at
the reporting date.

Where no reliable estimate can be made, a disclo¬
sure is made as contingent liability. A disclosure for
a contingent liability is also made when there is a
possible obligation or a present obligation that may,
but probably will not, require an outflow of resourc¬
es. Contingent liabilities are disclosed in the finan¬
cial statement unless the possibility of outflow is re¬

mote. Contingent Liabilities are not provided for and
are disclosed by way of notes. Contingent Assets
are neither recognized nor disclosed in the financial
statements.

14. CASH & CASH EQUIVALENTS

Cash and cash equivalents comprise cash and cash
on deposit with banks. The Company considers all
highly liquid investments with a remaining maturi¬
ty at the date of purchase of three months or less
and that are readily convertible to known amounts
of cash to be cash equivalents.

15. SEGMENT REPORTING

The company operates in a single segment i.e.
“Manufacturing of Catalysts" and hence does not
have any additional disclosures to be made under
AS - 17 Segment Reporting.

However, the Company is having revenue; from its
customers which are located outside India; of more
than 10% of its total revenue. Accordingly, as per
AS-17 Segment Reporting, the company has identi¬
fied geographic segment as its reportable segment.

The company has maintained records for cost of
material consumed and other expenses incurred
for manufacturing of goods in accounting system
for all the products. However, the company manu¬
factures the same products which are sold in Indian
Market and outside India at similar cost of product
manufacturing. Accordingly, the expenses incurred
on export segment is not identifiable.

Similarly, Assets of outside India is identifiable to
the extent of Outstanding Trade Receivables only.

date on which these are approved, might suggest
the requirement for an adjustment(s) to the assets
and the liabilities as at balance sheet date or might
need disclosure. Adjustments are required to assets
and liabilities for events which occur after balance

sheet date which offer added information substan¬
tially affecting the determination of the amounts
which relates to the conditions that existed at the
balance sheet date.

17. Extraordinary, Exceptional, Prior Period Items

And Changes In Accounting Policies

a) Income or expenses that arise from events or
transactions that are clearly distinct from the
ordinary activities of the Company are classi¬
fied as extraordinary items. Specific disclosure
of such events/transactions is made in the fi¬
nancial statements. Similarly, any external
event beyond the control of the Company, sig¬
nificantly impacting income or expense, is also
treated as extraordinary item and disclosed as
such.

b) On certain occasions, the size, type or inci¬
dence of an item of income or expense, per¬
taining to the ordinary activities of the Com¬
pany, is such that its disclosure improves an
understanding of the performance of the Com¬
pany. Such income or expense is classified as
an exceptional item and accordingly disclosed
in the notes to accounts.

18. Government Grants and Subsidies

Government grants and subsidies are recognised
when there is reasonable assurance that the Com¬
pany will comply with the conditions attached to
them and the grants / subsidy will be received. Gov¬
ernment grants whose primary condition is that the
Company should purchase, construct or otherwise
acquire capital assets are presented by deducting
them from the carrying value of the assets and such
grant is recognised as income over the life of a de¬
preciable asset by way of a reduced depreciation
charge.

When the grant or subsidy relates to an expense
item, it is recognized as income over the periods
necessary to match them on a systematic basis to
the costs, which it is intended to compensate.

19. Contingencies and events occurring after the Bal¬
ance Sheet Date

Events that occur between balance sheet date and

e) Pursuant to Shareholders' resolution dated August 21, 2025 Increase in Authorised Share Capital of the
Company increased from ' 25,00,000 divided into 2,50,000 Equity Shares of ' 10/- each to ' 15,00,00,000
divided into 1,50,00,000 Equity Shares of ' 10/- each.

f) In the current financial year, the company pursuant to the resolution of the Board of directors in the board
meeting dated December 24, 2025 has issued bonus equity shares in the ratio of 40 equity shares for each
equity share held. The bonus issue has been made by capitalizing reserves and surplus created out of prof¬
its. The record date for the said purpose was fixed as December 23, 2025. Accordingly, the paid-up share
capital of the company has increased by 1,00,00,000 equity shares of face value ?10 each.

g) There were no class of shares allotted as fully paid up pursuant to contract(s) without payment being re¬
ceived in cash.

h) There are no calls unpaid by the Directors or officers of the company and no shares were forfeited by the
company.

i) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive any of
the remaining assets of the Company, after distribution of all preferential amounts. The amount distribut¬
ed will be in proportion to the number of equity shares held by the shareholders.

j) Company has not issued any bonus shares during last 5 years except as disclosed in Note f above.

k) Company has not forfieted any shares during last 5 years.

a) The terms and conditions and other information in respect of Secured Loans and Unsecured Loans are
given in note- 4(f)

b) The Company does not have any continuing default in repayment of loans and interest as on the reporting
date.

c) The Company has not taken any loan from financial institution or banks for any specified purpose for which
it is not utilised.

d) All the registration or satisfaction of charges has been duly completed with the Registrar of Companies.

e) The company is not declared as “willful defaulter" by any bank or financial Institution or other lender as on
the reporting date.

1 The figures disclosed above are based on the summary statement of assets and liabilities of the Company.

2 Amount due to entities covered under Micro, Small and Medium Enterprises as defined in the Micro, Small,
Medium Enterprises Development Act, 2006, have been identified on the basis of information available with the
Company.

3 Ageing of the Supplier, with or without any amount in disputes, is as required by Schedule III of Companies Act,
2013 as disclosed above after it becomes due for payment. In case of no credit terms defined, the break-up of
age wise supplier balance is given above after the date of transactions.

1. The Company has not revalued its Property Plant & Equipment.

2. The immovable properties used/occupied by the Company are held on long-term leasehold basis under lease
deeds executed with Gujarat Industrial Development Corporation (“GIDC").

3. No proceedings have been initiated or pending against the company for holding any benami property under
the Benami Transaction (Prohibition) Act, 1988 and the Rules made thereunder and as amended from time to
time.

4. Those tangible fixed assets are not ready for their intended use are shown as capital work-in-progress and they
carried at cost, comprising direct cost and related incidental expenses.

5. Plot Nos. 258 and 259 have been taken on lease by the Company with the purpose of developing a manufacturing
facility, which is classified under the head of Leasehold land in PPE register. Expenditure already incurred by the
company for such development is currently classified in the head Capital Work-in-progress.

6. Title deeds of all immovable properties owned by the Company are held in the name of the Company.

4 Corporate Social Responsibility (CSR)

As per section 135 of the Companies Act, 2013, a CSR committee has been formed by the Company. The areas for
CSR activities are promoting education, art and culture, healthcare, destitute care and rehabilitation and rural
development projects as specified in Schedule VII of the Companies Act, 2013. The details of amount required to
be spent and actual expenses spent during the year is as under.

5 Additional Regulatory Information (as per the

Schedule III requirements)

i) The immovable properties used/occupied by
the Company are held on long-term leasehold
basis under lease deeds executed with Gujarat
Industrial Development Corporation (“GIDC")

ii) There is no Scheme of Arrangements ap¬
proved by the Competent Authority in terms
of sections 230 to 237 of the Companies Act,
2013.

iii) The company is not declared as wilful default¬
er by any bank or financial Institution or other
lender.

iv) The company does not have any transactions
with struck off companies.

v) There is no Loans or advances granted to the
Promoters, directors, KMP and the relative of
them during the period ended March 2026 and
March 2025.

vi) No proceedings have been initiated or pending
against the company for holding any benami
property under the Benami Transactions (Pro¬
hibition) Act, 1988 (45 of 1988) and the rules
made there under.

vii) Company does not have pending any charges
or satisfaction yet to be registered with regis¬
trar of companies beyond the statutory peri¬
od.

viii) There is no unutilised amounts in respect
of long term borrowings from banks and the
borrowed funds have been utilised for the
specific purpose for which the funds were
raised.

ix) The Company has not revalued any Property or
Plant and Equipment.

x) Company does not have any Intangible under
development for the period ended on March
31, 2026 and March 31, 2025.

xi) The Company is in compliance with the num¬
ber of layers of companies in accordance with
clause 87 of Section 2 of the Act read with the
Companies (Restriction on number of Layers)
Rules, 2017 for the year ended March 31,2026
and March 31, 2025.

xii) Balances of Trade Receivables, Trade Pay¬
ables, Borrowings and Loans & Advances and
Deposits are confirmed by the management.

xiii) Company has no extra ordinary Items to be

disclosed in accordance with the requirements
of AS - 5 “Net Profit or Loss for the Period,
Prior Period Items and Changes in Accounting
Policies.

xiv) During the period of restatement, The Compa¬
ny has not traded or invested in Crypto Curren¬
cy or Virtual Currency during the year.

xv) During the period of restatement, the Compa¬
ny has no such transactions which is not re¬
corded in the books of accounts that has been
surrendered or disclosed as income during
the year in tax assessments under The Income
Tax Act, 1961.

xvi) No dividend was declared and paid by the
company during the period.

xvii) The Company does not have any transaction
or undisclosed income which are reported by
tax authorities under any assessment year un¬
der tax Assessment (such as, search or survey
or any other relevant provisions) under the in¬
come tax Act- 1961 and rules made thereun¬
der.

xviii) Figures have been rounded off to the multi¬
ple of Lakhs. Previous year's figures have been
regrouped, recast and rearranged wherever
necessary to make them comparable with the
current Period/year figures.

xix) The Company does not use derivative financial
instruments such as forward exchange con¬
tracts or options to hedge its risks associated
with foreign currency fluctuations or for trad-
ing/speculation purpose.

xx) Plot Nos. 258 and 259 have been acquired by
the Company with the purpose of developing a
manufacturing facility, which is classified un¬
der the head of Land in PPE register. Expen¬
diture already done by the company for such
development is currently classified in the head
Capital Work-in-progress.

xxi) The accounting software used by the com¬
pany to maintain its Books of account did not
have a feature of recording audit trail (edit
log) facility throughout the year. The compa¬
ny has an established process of regularly
identifying shortcomings, if any, and updating
technological advancements. The shortcom¬
ings identified during the course of audit are
being reviewed and corrective action is being
taken wherever required. Notwithstanding
the above, the Company has implemented
adequate internal financial controls and mak¬
er-checker processes, including segregation

shall:

(i) 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

(ii) provide any guarantee, security or the like
to or on behalf of the Ultimate Beneficiaries;

B) As stated & confirmed by the Board of Direc¬
tors, the company has not received any fund
from any person(s) or entity(ies), including
foreign entities (Funding Party) with the un¬
derstanding (whether recorded in writing or
otherwise) that the company shall:

(i) 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

(ii) provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries."