a) Provisions (other than trade payables and accruals) as mentioned in the Ind As 37
issued by the Institute of Chartered Accountants of India are accounted for and
disclosed to the extent practicable in the manner laid down in the said Accounting
Standard.

b) Contingent Liabilities disclosed in the Notes forming part of the Accounts comply
with Ind As 37 to the extent practicable.

c) Company has not recognized any Contingent Asset.

14) Investment Property

Property that is held for long term rental yields or for capital appreciation or both,
and that is not occupied by the company, is classified as investment property.
Investment property is measured initially at cost, including related transaction costs
and where applicable borrowing costs. Subsequent expenditure is capitalized to the
asset's carrying amount only when it is probable that future economic benefits
associated with the expenditure will flow to the company and the cost of the item can
be measured reliably. All other repairs and maintenance costs are expensed out as and
when it is incurred.

Investment properties are depreciated using the straight-line method over the
estimated useful lives. The useful life of the investment properties is estimated at 25 -
30 years based on the technical evaluation performed by the management

Investment properties are de-recognized either when they have been disposed of
when they are permanently withdrawn from use and no future benefit is expected
from their disposal.

15) Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of
an identified asset for a period of time in exchange for a consideration

Ind AS 116 'Leases' requires the lessor to classify each of its leases as either an
operating lease or a finance lease. A lease is classified as a finance lease if it transfers
substantially all the risks and rewards incidental to ownership of an underlying asset.
A lease is classified as an operating lease if it does not transfer substantially all the
risks and rewards incidental to ownership of an underlying asset.

The Company has classified its lease as 'Operating Lease' at the inception date and is
reassessed only if there is a lease modification. Changes in estimates, or changes in
circumstances of the economic life or of the residual value of the underlying asset, do
not give rise to a new classification of a lease for accounting purpose.

The Company recognizes lease income from operating lease in a systematic and
straight-line basis, unless another systematic basis is more representative of the
pattern in which benefit from the use of the underlying asset is diminished.

The company has also recognized costs, including depreciation, incurred in earning
the lease income as an expense. Any initial direct costs incurred in obtaining an
operating lease is added to the carrying amount of the underlying asset and has
recognize those costs as an expense over the lease term on the same basis as the lease
income. The company has also applied Ind AS 36 to determine whether the
underlying asset subject to an operating lease is impaired and accounted for the
impairment losses identified, if any.

16) Deferred revenue expenditure

a. Deferred warehousing commission

The Company has recognized the deferred portion of the upfront warehousing
commission during the financial year 2024-25, following the sale of its entire
warehouse located at Edayar, as it no longer expects to derive any future
economic benefits associated with it.

b. Deferred labour settlement

The Company has recognized the deferred portion of the labour settlement
expenditure during the financial year 2024-25, following the sale of its entire
warehouse located at Edayar, as it no longer expects to derive any future
economic benefits associated with it.

NOTE 30 : Fair Value Hierarchy

The management has assessed that its financial assets and liabilities like cash and cash equivalents, trade receivables, trade payables, cash credits, buyers credit and other
current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

The following methods and assumptions were used to estimate the fair values for the financial assets given below:

Quoted Equity Instrument and Mutual Funds:

The fair values of the quoted equity shares measured using quoted prices. This includes listed equity instruments and mutual funds that are listed in the stock exchange.

Unquoted Equity Shares of Other Companies:

The fair values of the unquoted equity shares have been estimated using NAV model using the book value of assets and liabilities.

Preference Shares

The value of the preference shares are estimated based on the weighted average cost of capital.

^ The amount of Rs.22.18 lakhs is the tax on income disputed in appeal filed by the Company with the CIT A for the AY 14-15. The said amount has been adjusted from
the income tax refund due to the company for the AY 22-23 & AY 23-24 by the income tax department.

2 The amount of Rs.1.45 lakhs is the amount of penalty u/s 270A of income tax act relating to AY 17-18 disputed in appeal by the company

The amount of Rs.26.65 lakhs relates to interest under section 220(2) for AY 2010-11 (Rs.12.90 lakhs) and AY 2014-15 (Rs.13.75 lakhs). For AY 2010-11 the company
has filed petition for waiver with commissioner of income tax and the same is pending. Also this amount is adjusted against the income tax refund for AY 22-23. For AY
2014-15 if the CIT (Appeals) order is favourable to the Company, then the company is eligible to get refund of the interest .This liability is already adjusted against the
income tax refund for AY 22-23 & AY 23-24.

The contingent liability component of EPF demand under appeal pertains to alleged short remittance of EPF paid to the employees,disputed in appeal before the

⁴ Honourable Highcourt of kerala

⁵ The contingent liability component of KSEB demand under appeal pertains to penal charges paid for alleged unauthorised load usage. This was quashed by the Kerala
State Electricity Appellate Tribunal .However KSEB has gone on appeal in the High Court against the Appellate Tribunal order .

Note 33 : Compliance on transfer of Underlying shares relating to unclaimed Dividend to IEPF Account

Sec 124(6) of the Companies Act, 2013 read with Rule 6 of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund)
Rule, 2017, requires every company to transfer all the shares in respect of which [dividend has not been paid or claimed for seven consecutive years
or more shall be] in the name of Investor Education and Protection Fund along with a statement containing such details as may be prescribed.

The Ministry of Corporate Affairs (MCA) vide General Circular No. 12/2017 dated 16.10.2017 had notified the due date to transfer the equity shares
where the specified period has completed

The Company has completed the transfer of unclaimed shares to Investor Education and Protection Fund along with a statement containing such
details relating to FY 2012-13 & 2013-14 to comply with provisions of the Act during the year 2024-25.

Previous years figures have been regrouped, recast and rearranged wherever necessary.

The figures of current year and previous year has been rounded off to the nearest lakhs's and decimal thereof to suite the requirements

For KPR & Co., For and on behalf of the Board,

Chartered Accountants

^FRM: ^05326S Sd/- Sd/-

S Rajkumar Visakh Rajkumar

Vice Chairman & Director

Sd/- Managing Director

M R Sukumaran BSc, FCA DIN : 01790870 DIN : 07079475

Partner (M No. 024506)

' UDIN : Sd/- Sd/_-

V N Sridharan Vinod Kumar M

Chief Financial Officer Company Secretary

Cochin - 11 Chennai-17

22-04-25 22-04-25