m. Contingent Liability, Provisions and Contingent Asset

The Company creates a provision when there is present obligation as a result of a past event that
probably requires an outflow of resources and a reliable estimate can be made of the amount of
obligation.

The Company records a provision for decommissioning, restoration and similar liabilities that are
recognized as cost of property, plant and equipment. Decommissioning costs are provided at the
present value of expected costs to settle the obligation using estimated cash flows and are recognized
as part of the cost of the particular asset. The cash flows are discounted at a current pre-tax rate that
reflects the risks specific to the decommissioning liability. The unwinding of the discount is expensed
as incurred and recognized in the statement of profit and loss as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that probably will not require an outflow of resources or where a reliable estimate of the obligation
cannot be made.

Contingent assets are neither recorded nor disclosed in the financial statements.

n. Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to
equity shareholders (after deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. Partly paid equity shares are treated as
a fraction of an equity share to the extent that they are entitled to participate in dividends relative to
a fully paid equity share during the reporting period.

The weighted average numbers of equity shares are adjusted for events such as bonus issue, bonus
element in the rights issue, share split and reverse share split (consolidation of shares) that have
changed the number of equity shares outstanding, without corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year
attributable to equity shareholders and the weighted average number of shares outstanding during the
period are adjusted for the effects of all dilutive potential equity shares.

o. Segment Reporting

The accounting policies adopted for segment reporting are in conformity with the accounting policies
adopted for the Company. The Company’s operating businesses are organized and managed separately
according to the nature of products and services provided, with each segment representing a strategic
business unit that offers different products and serves different markets. The analysis of geographical
segments is based on the areas in which major operating divisions of the Company operate.

Further, inter-segment revenue has been accounted for based on the transaction price agreed to
between segments which is primarily market based.

Unallocated items include general corporate income and expense items, which are not allocated to any
business segment.

p. Investments

Non-Current/Long-term Investments are stated at cost. Provision is made for diminution in the value of
the investments, if, in the opinion of the management, the same is considered to be other than
temporary in nature. On disposal of an investment, the difference between it carrying amount and net
disposal proceeds is charged credited to the Statement of Profit and Loss.

Current investments are carried at lower of cost and fair value determined on an individual basis. On
disposal of an investment, the difference between it carrying amount and net disposal proceeds is
charged or credited to the Statement of Profit and Loss.

q. Inventory:

Inventories are valued at lower of cost and net realizable value. Cost of inventories comprises all cost
of purchase, cost of conversion and other costs incurred in bringing the inventories to their present
location and condition. Cost includes all taxes and duties, but excludes duties and taxies that are
subsequently recoverable from tax authorities.

Cost of inventories other than for manufactured finished goods and Work-in-progress is determined on
the basis of First-in-first-out basis.

Cost of Manufactured finished goods and Work-in-Progress includes material cost and also includes an
appropriate portion of allocable overheads.

r. Cash Flows

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the
effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from regular revenue generating, financing and investing
activities of the Group are segregated. Cash Flows in foreign currencies are accounted at average
monthly exchange rates that approximately the actual rates of exchange prevailing at the dates of the
transactions.

Note 35 Other Notes

a) The Company has not traded or invested in Crypto currency or Virtual Currency for the period covered under statement.

b) The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income
during the year (previous 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).

c) The Company does not have any transactions with companies struck off under section 248 of the Companies Act. 2013 for the period covered under
statement.

d) The company has complied 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.

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

f) The Company does not have any Benami property, where any proceeding has been initiated or pending against the company for holding any Benami
property.

g) The Company has not been declared Wilful Defaulter (as defined by RBI circular) by any bank or financial institution or other lenders.

h) The Company availed the short term credit facility from bank on the basis of security of Inventory and book debts and filed the quarterly return^
statement with the bank and the same are in agreement with books of accounts.

Note 36 Other Notes

(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 oi on behalf of the company (Ultimate
Beneficiaries) or

(b) provide any guarantee, -ecurity 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 understanding (whether

recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or ennties 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 37

Previous year's figures are regrouped and reclassified whereever necessay in conforming to the current year's classifications

Not* 38 S*gm*nt Reporting

The companies is enganged in the business of manufacturing and hading of stainless steel. Further the Management has identified only one Segment for
the purpose of disclosure as per accounting standards. Accordingly as per management the segment reporting is not applicable to the Company