K Provisions and Contingent Liabilities

Provisions are recognised when the Company

(a) has a present obligation (legal or constructive) as a result of a past event,

(b) it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and

(c) a reliable estimate can be made of the amount of the obligation.

Provisions are measured at the best estimate of the expenditure required to settle the present obligation
at the Balance Sheet date. If the effect of the time value of money is material, provisions are discounted
to reflect its present value using a current pre-tax rate that reflects the current market assessments of the
time value of money and the risks specific to the obligation. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.

Contingent liabilities are disclosed 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 a present obligation that arises from past events where it is
either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.

L Government Grants

Government grants and subsidies are recognized when there is reasonable assurance that the company will
comply with the conditions attached to them and the grants / subsidy will be received. Government 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. The grant is recognized as
income over the life of depreciable assets by way of a reduced depreciation charge while grants related to
expenses are treated as other income in the income statement.

M Segment Reporting

The Chief Operational Decision Maker monitors the operating results of its business segments separately for the
purpose of making decisions about resource allocation and performance assessment. Currently the company
operates only in one geographical segment viz, Polymer based packaging products in India.

N Cash & Cash Equivalents

The company considers all highly liquid financial instruments, which are readily convertible into known amount of
cash that are subject to an insignificant risk of change in value and having original maturities of three months or
less from the date of purchase, to be cash equivalents.

O Cash Flow Statement

Cash flows are reported using the indirect method where by the profit before tax is adjusted for the effect of
the transactions of a non-cash nature, any deferrals or accruals of past and future operating cash receipts or
payments and items of income or expenses associated with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the company are segregated.

P Earnings Per Share

Basic earnings per share is computed by dividing the net profit for the period attributable to the equity
shareholders of the Company by the weighted average number of equity shares outstanding during
theperiod. The weighted average number of equity shares outstanding during the period and for all periods
presented is adjusted for events, such as bonus shares, other than the conversion of potential equityshares
that have changed the number of equity shares outstanding, without a corresponding change in resources.
For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period is adjusted for the
effects of all dilutive potential equity shares.

Q Research & Development

Revenue expenditure on research and development are charged as an expense in the year in which they are
incurred. Capital expenditure on research and development are shown as an addition to fixed assets.

R Subsidy

Capital subsidy received from Maharashtra Government if any credited to capital reserve account.

A. Nature and Purpose of Reserves

(a) Capital Reserve: The Companies Act, 2013 requires the company to create capital reserve based on statutory
requirement. This reserve is not available for capitalisation / declaration of dividend / share buy-back.

(b) Securities Premium Reserve: The amount received in excess of face value of the equity shares is recognised in
Securities Premium Reserve.

(c) Retained Earnings: Retained earnings are the profits that the Company has earned till date, less any transfers to
general reserve, dividends or other distributions paid to shareholders.

(d) FVTOCI Equity Investments: The company has elected to recognise changes in the fair value of certain
investments in equity securities in other comprehensive income. These changes are accumulated within the
FVTOCI Equity Investments reserve within equity. The company transfers amount from this reserve to retained
earnings when the relevant equity securities are derecognised.

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's
risk management framework. The Board of Directors has established the Risk Management Committee, which is
responsible for developing and monitoring the Company's risk management policies. The Committee reports regularly
to the Board of Directors on its activities.

a Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument
fails to meet its contractual obligations, and arises principally from the Company's receivables from customers,
loans. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of business. The
Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred
losses in respect of trade and other receivables and investments.

The Company's maximum exposure to credit risk as at 31st March, 2022 and 2021 is the carrying value of each
class of financial assets.

i Trade and other receivables

Credit risk on trade receivables is limited based on past experience and management's estimate.

Ageing of trade and other receivables that were not impaired was as follows.

ii Cash and Cash Equivalents

The Company held cash and bank balance with credit worthy banks of '8,21,469 at March 31, 2025 (March 31, 2024:
' 11,68,439). The credit risk on cash and cash equivalents is limited as the Company generally invests in deposits
with banks where credit risk is largely perceived to be extremely insignificant.

27 Capital Management

The company's objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders
and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management's judgement of the appropriate balance of key
elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to
risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the
underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take
appropriate steps in order to maintain, or if necessary adjust, its capital structure.

i. The Company has availed borrowings from banks or financial institutions on the basis of security of current assets & the
quarterly statements submitted to Banks wherever mandated are in agreement with the books of accounts.

j. The Company is not declared wilful defaulter by and bank or financials institution or lender during the year.

k. The Company has not undertaken any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956.

l. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

m. The Company does not have any investment in subsidiaries. Accordingly, Compliance with 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.

n. Reporting under Compliance with approved Scheme(s) of Arrangements is not applicable to the Company.

o. "The Company has not advanced or loaned or invested funds to any other person(s) or Company(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."

p. "The Company has not received any fund from any person(s) or Company(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."

q. The Company does not have any 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, except for those
mentioned in the Audit report.

r. Reporting on Corporate Social Responsibility (CSR) is not applicable to the Company.

s. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

For Jain Jagawat & Kamdar & Co For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No. 122530W

CA Chandrashekhar Jagawat Bharat Chimanlal Parekh Ishan Dilipkumar Selarka

Partner Managing Director Independent Director

M No. 116078 DIN: 02650644 DIN: 03614005

Ravindra Shukla Hardik Kamlesh Jain

Company Secretary

Independent Director

Mumbai, 27th May, 2025 DIN: 00660027