1) Contingent liability:

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non - occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot, be recognized because it cannot be
measured reliably.

la The Company is having only one class of Equity Share having a par value of Rs. 10/- Per Share. Each
Shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is
subject to the approval of shareholders, except in case of interim Dividend. In the event of liquidaton,
the equity shareholders are eligible to receive the remaininig assets of the company, after distribution
of all preferential amounts, in proportion of their shareholding.

lb The company has issued 62,50,000 Bonus Equity Shares of Rs. 10 each fully paid up at par in the ratio
of 5:4 to Existing Share holder as on 14/07/2017 out of General Reserve.

lc Pursuant to Intial Public Offering (IPO) 42,00,000 equity shares of the Company of Rs.10 each were
alloted at Rs. 34 per Equity Share;

The equity Shares of the company were listed on National Stock Exchange-SME Platform with effect
from October 16, 2017.

Id The company has issued 15,45,000 Bonus Equity Shares of Rs. 10 each fully paid up at par in the ratio
of 1:10 to Existing Share holder as on 15/10/2019 out of Security Premium Account

le Reconciliation of the number of shares outstanding at the beginning and at the end of the year:

36 NOTESFORMINGPARTOFTHEACCOUNTSFORTHEYEARENDEDON
31st MARCH 2025

1 The Company changed its name on 03.04.2007 from M/s. Milton Laminates Ltd. to
M/s Milton Industries Ltd.

2 i) Valley Velvette Pvt. Ltd. (VVPL) engaged in the business of manufacturing Coated

Fabrics cloth is amalgamated with the Company with effect from April 1,2008 in terms of
Amalgamation (Scheme)sanctioned by the Hon'ble High Court of Gujarat vide its order
dated 28/08/2009. The said Scheme came into effect from 25/09/2009 being effective
date and pursuant thereto all assets, estates, title, interests, authorities, debts, out
standings, credits, liabilities have been transferred to and vested in the Company
retrospectively with effect from the appointed date i.e. April 1,2008.

ii) Each shareholder of Transferor Company received three (3) equity shares of Rs. 10/- each
(Rupees Ten each only) fully paid up in the capital of Transferee Company for every one
(1) equity share/s of Rs. 10/- each fully paid up and held in the capital of transferor
company. All shares issued and allotted ranked pari passu in all respects with the existing
equity shares in the transferee company.

3 The Company will make necessary adjustments on receipt of balance confirmations from the
parties who have yet to send their confirmations.

4 Depreciation for the year has been provided on carrying cost at the rates and manner
prescribed in Schedule II of the Companies Act, 2013 on Straight Line Method.

- Depreciation on original cost of assets is chargedto the Profit & Loss Ale.

37 The Company has not traded or invested in Crypto Currency or Virtual Currency during the
financial year and comparative period.

38 The Company has not entered into any transactions with companies struck off under Section 248 of
the Companies Act, 2013 or Section 560 of Companies Act, 1956.

39 As at the reporting dates, none of the charges or satisfaction of charges are yet to be registered with
ROC beyond the statutory time limit.

40 The provisions relating to number of layers prescribed under clause (87) of Section 2 of the
Companies Act. 2013 read with Companies (Restriction on number of layers) Rules, 2017 are not
applicable to the company.

41 The company does not have any scheme of Arrangements approved by the competent Authority in
terms ofSection230to237 of Companies Act, 2013.

42 The Company does not hold any Benami Properties. No proceedings have been initiated or are
pending against the company for holding any benami property under the Benami Transactions
(Prohibitions) Act, 1988 and the rules made thereunder.

43 There are no transactions that has not been recorded in the books of accounts and has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,
1961.

44 GST Payable and Receivable booked on the basis of CGST, SGST and IGST act and all working done
as per respective act and also follow the requirement of the act. GST Balance is Subject to the
reconcilation of Annual GST Return.

45 Balances of Trade Payables and Trade Receivables are subject to confirmation, reconciliations and
adjustment, if any.

46 Ratio Analysis.

Note- The Numerator and Denominator description given below is based on standard format only for understanding purpose. This need to
be amended by each company based on specific items with reference to nomenclature used in its financial statement.

47 Previous year figures have been reclassified where necessary to confirm to this year's classification.

48 Significant accounting policies and practices adopted by the Company are disclosed in the statement
annexedto these financial statement as Annexure I.

. . . . . .. , . For and on behalf of the Board of Directors

As per our report of even date attached

For, KPSJ and Associates LLP Vijay Pal Jain Saket Jain

Chartered Accountants Chairman Cum (WTD & CFO)

Firm Reg. N0.124845W Managing Director

Prakash M Parakh

P _t Ronak Maheshwari AJAY MAHIPAL SINGH JAIN

(Company Secretary) (Director)

Membership No. 39946 Membership No. A60212

UDIN : 25039946BMIFBE4930

Place : Ahmedabad Place : Ahmedabad

Date : May30, 2025 _Date : May30, 2025