Notes to Accounts of Kriptol Industries Ltd.

Mar 31, 2015

1. Contingent liabilities and commitments (to the extent not provided for) -

(i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debt;

(b) Guarantees;

(c) Other money for which the company is contingently liable.

(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for;

(b) Uncalled liability on shares and other investments partly paid;

(c) Other commitments (specify nature).

2. The amount of dividends proposed to be distributed to equity and preference shareholders for the period and the related amount per share shall be disclosed separately. Arrears of fixed cumulative dividends on preference shares shall also be disclosed separately.

3. Where in respect of an issue of securities made for a specific purpose, the whole or part of the amount has not been used for the specific purpose at the balance sheet date, there shall be indicated by way of note how such unutilised amounts have been used or invested.

4. If, in the opinion of the Board, any of the assets other than fixed assets and non-current investments do not have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated.

6. Balance confirmation have not been received in certain cases. Thus such balance due to or due from the parties are subject to necessary adjustment on receipt of confirmation.

7. We relying the entry appearing in the books of accounts when ever proper supporting not attached.

8. Additional information pursuant to the provision of paragraph 3 & 4 in part 11 of the Schedule vi of the companies act 1656 is not applicable.

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Mar 31, 2014

1. Contingent Liabilities & Commitment : Note 1

A Contingent Liabilities

i) Claim against the company not acknowledged

ii) Guarantees - -

B Commitments

i) Estimated amt. of contracts remaining to be executed on capital account and not provided for

ii) Uncalled liability on share and other investments parties

iii) Other Commitments - -

2. Pursuant to the Notification No.447 (E) dated February 28,2011 and Notification No.653 (E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has prepared its financial statements for the year ended March Rs. 31, 2014 as per revised schedules VI to the Companies Act, 1956. Accordingly, the previous year''s figures have been regrouped / reclassified, wherever required to align the financial statements to the revised format.

3. a. Balance on sundry Creditors and Loans are subject to confirmation and reconciliation from respective parties.

b. In the opinion of the Board of Director of the Company aggregate value of current Assets, Loans & Advances on realization in the ordinary course of business will not be less than the amount at which these stated in the Balance Sheet.

c. Previous year figures have been regrouped reclassified wherever necessary.

d. Amounts are rounded off to the nearest rupee.

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Mar 31, 2013

A. Balance on sundry Creditors and Loans are subject to confirmation and reconciliation from respective parties.

b. In the opinion of the Board of Director of the Company aggregate value of current Assets, Loans & Advances on realization in the ordinary course of business will not be less than the amount at which these stated in the Balance Sheet.

c. Previous year figures have been regrouped / reclassified wherever necessary.

d. Amounts are rounded off to the nearest rupee.

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Mar 31, 2012

A. Balance on sundry Creditors and Loans are subject to confirmation and reconciliation from respective parties.

b. In the opinion of the Board of Director of the Company aggregate value of current Assets, Loans & Adva nces on realization in the ordinary course of business will not be less than the amount at which these stated in the Balance Sheet.

c. Previous year figures have been regrouped / reclassified wherever necessary.

d. Amounts are rounded off to the nearest rupee.

e. Earning in Foreign Exchange Nil

f. Remittance in Foreign Exchange Nil

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Mar 31, 2011

1) There are no contingent liabilities nor provided for.

2) Depreciation has been provided on assets as per WDV method by the company.

3) The value of realization of Current Assets, Loans and Advances in the ordinary course of business will not be less than the value at which they are started in the balance sheet.

4) Auditors remuneration is as under :

a) Audit fees Rs. 44120/- (Prv.Yr. Rs. 44120/-)

b) Income Tax matter Rs. Nil/- (Prv. Yr. Rs. NIL)

c) Other Matters Rs. Nil/- (Prv. Yr. Rs. NIL)

5) No related party transactions taken place during the year.

6) The additional Information pursuant to the provision of the paragraph 3, 4C, and 4D of Part-II of schedule Vi to the companies Act, 1956 has been furnished to the extend possible and applicable because of the nature of the business of the company.

7) The previous year figure has been regrouped and/or rearranged wherever necessary.

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Mar 31, 2010

1) There are no contingent liabilities nor provided for.

2) Depreciation has been provided on assets as per WDV method by the company.

3) The value of realization of Current Assets, Loans and Advances in the ordinary course of business will not be less than the value at which they are started in the balance sheet.

4) Auditors remuneration is as under :

a) Audit fees Rs. 44120/- (Pry.Yr. Rs. 44120/-)

b) Income Tax matter Rs. Nil/- (Prv. Yr. Rs. NIL)

c) Other Matters Rs. Nil/- (Prv. Yr. Rs. NIL)

5) No related party transactions taken place during the year.

6) The additional Information pursuant to the provision of the paragraph 3, 4C, and 4D of Part-II of schedule Vi to the companies Act, 1956 has been furnished to the extend possible and applicable because of the nature of the business of the company.

7) The previous year figure has been regrouped and/or rearranged wherever necessary.

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Mar 31, 2009

1 Paise are rounded up to the nearest rupee

2. Previous year figures are regrouped and rearranged whereever necessary.

3. ACCOUNTING FOR TAXES OF INCOME

The Company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deterred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

4, We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

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Mar 31, 2007

1. Balance of Sundry creditors, debtors, loans and advances are subjects to confirmation.

2. The audit has been carried out of the basis of the fresh computerised output reconciled.

3. In the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

4. We are unable to categories the dues to Small Scale Industries (SSI) seperately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

5. ACCOUNTING FOR TAXES OF INCOME

The company has jot unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

6. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

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Mar 31, 2006

ANNUAL REPORT 2005-2006

NOTES ON ACCOUNTS

SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS:

[A] SIGNIFICANT ACCOUNTING POLICIES:

The accounts are prepared in accordance with the accounting principles accepted in India. The Significant accounting policies to the extent applicable to the company are as under:

1. SYSTEM OF ACCOUNTING:

The Financial statements are prepared on the basis of historical cost convention on accrual basis and on going concern basis.

2. REVENUE RECOGNITION:

All known expenditure and income to the extent payable or receivable respectively and quantifiable till the date of finalisation of accounts are accounted on accrual basis.

3. FIXED ASSETS:

Fixed assets are carried at cost of acquisition or construction including incidental expenses related to acquisition and installation on concerned assets, less accumulated depreciation and amortization.

4. DEPRECIATION:

Depreciation has been provided 6n Straight Line Method in accordance with the provision of Section 205(2)(b) of the Companies Act, 1956 at the rate prescribed in Schedule XIV of the Companies Act, 1956 on prorata basis with reference to the date of acquisition/installation.

5. INVESTMENTS:

Long term investments are stated at cost. Provision for dimulation in the value of long term investment is made only if such decline is other than temporary in the opinion of the management.

6. SUNDRY DEBTORS:

No provision has been made for the bad debts. Bad debts will be accounted for in the books, and to be charged to revenue, as and when they arise.

7. VALUATION OF INVENTORIES:

a] Raw Material At Cost

b] Consumable Stores At Cost

c] Finished Goods At Cost or net realisable value whichever is less.

8. CONTINGENT LIABILITIES:

There were no Contigent liabilities. All liabilities were accounted forthwith.

9. SALES:

Sales are invoiced on delivery of goods to the customers. Invoiced value of sales excluding Sales Tax and net of sales return.

10. RESEARCH & DEVELOPMENT:

No research and development expenditure has been incurred by the firm during the year.

11. FOREIGN CURRENCY TRANSACTION:

The company has not made any foreign currency transaction during the year.

12. RETIREMENT BENEFITS:

No provision for retirement benefits for employees has been made. The company has adopted PAY-AS-YOU-CO method for the payment of other retirement benefits if any payable to the employees.

[B] NOTES OF ACCOUNTS:

1. Paise are rounded up to the nearest rupee.

2. Previous year figures are regrouped and rearranged wherever necessary.

3. AUDITORS REMUNERATION 2005-06 2004-05

Audit Fees 33672 33060

4. Additional information pursuant to provisions of paragraphs 4C, 3 and 4D of part-II of Schedule VI to the companies Act 1956 (Information given to the extant applicable)

Particulars 2005-06 2004-05

a. Licenced Capacity Not Applicable Not Applicable

b. Installed Capacity 375 (mt) 375 (mt)

c. Quantitative particulars in respect of Raw-materials consumed during the year.

Particulars 2005-06 2004-05 (in Kgs.) (in Kgs.)

Opening Stock 36368.700 85184.000 Purchase 248326.200 342060.700 Consumption 239352.700 393769.000 Sales 4983.000 0.000

Closing Stock (Factory) 41359.200 33475.700

d. Quantitative particulars in respect of finished goods:

Opening Stock 1675.000 8442.000 Production 151025.000 149185.000 Consumption 129374.000 131342.000 Sales 20480.000 25058.000 Closing Stock 2846.000 1227.000

e. Quantitative particulars in respect of Trading goods:

Dyes & Chemicals

Particulars 2005-06 2004-05 (in Kgs.) (in Kgs.)

Opening Stock 40624.000 0.000

Purchase 621933.000 510036.000

Sales 616520.440 470412.000

Closing Stock 46036.560 39624.000

Pharmaceuticals

Particulars 2005-06 (in Nos/ 2004-05(in Nos/ Stripes/Pcs./Etc) stripes/pcs/Etc.)

Opening Stock 532 0

Purchase 1875704 324299

Sales 1147480 323767 Closing Stock 728756 532

f. The raw-material consumed:

Indigenous 100.00% 100.00%

Imported 0.00% 0.00%

g. Value of goods imported on CIF bases NIL NIL

h. Value of export calculated on FOB value NIL NIL

i. Value of other earning in foreign exchange NIL NIL

5. Expenditure incurred on employees who are in receipt of remuneration on the aggregate of not less than Rs.24,00,000/-per annum if employed throughout the year and of Rs.2,00,000/- per month if employed for part of the year.

No.of Employees. NIL NIL

Amount paid NIL NIL

6. Balance of Sundry creditors, debtors, loans and advances are subjects to confirmation.

7. The audit has been carried out of the basis of the fresh computerised output reconclied.

8. In the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

9. Schedules "1 to 19" form the integral part of the Balance Sheet as at 31st March 2006 and the Profit & Loss Account for the year ended on that date.

10. We are unable to categories the dues to Small Scale Industries (SSI) separately due t6 lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

11. SEGMENTATION REPORTING:

During the year company has carried on the Trading Business of Pharmaceutical in addition to the Dyes & Chemicals, the disclosure of segment information in pursuance to accounting standard No. 17 issued by Institute of Chartered Accountants of India is as a under given.

The previous year figures were given in the bracket.

(A) Primary Segment Reporting (Business Segment)

Particulars Dyes & Chemicals Pharmaceuticals Total

Segment Revenue 24688143 14808567 39496710 (25200816) (3639798) (28840614)

Segment Result 1140661 1603285 2743946 (1605326) (545970) (2151296)

Unallocated Non-Cash Exp.:

Depreciation 1422921

Provision for Taxation & Fringe Benefit Tax 200033

Profit during the year 1120992

(B) Secondary Segment, Reporting (Geographical Segment):

Secondary Segment reporting is performed on the basis of Geographical location. The Company Sales are entirely domestic and indigenous and no distinguishable component exit. Hence the Company has no secondary geographical segments.

12. RELATED PARTY DISCLOSURES:

List of related parties with whom transactions have taken place during the year.

1. Name of related parties and descriptions of relationship:

a. Associates/Joint Venture 1. Roselabs Finance Ltd.

b. Key Management Personnel 1. Shri Pawankumar Agrawal 2. Shri Sureshbhai Desai 3. Shri Ramawtar Jangid

c. Companies controlled by 1. Sadiram Industries Directors/Relatives 2. Shivacid (I) Pvt. Ltd. 3. Hanumanprasad Trilokchand 4. Singal Textiles 5. Roselabs 6. Singhal Overseas Ltd.

2. Transaction during the year with related parties:

Particulars Associates/ Key Companies Joint Ventures Management controlled by Personnel Directors/ Relatives a. Loans & Advances

- Given during the year 7,50,000 NIL 40,71,920

- Returned during the year 7,50,000 NIL 40,27,880

- Balance as at 31-03-2006 NIL NIL 44040 - Accepted during the year 10,14,000 NIL NIL - Repaid during the year 10,14,000 NIL NIL - Balance as at 31-03-2006 NIL NIL NIL

b. Investments in shares:

- Balance as at 31.03.2006 2,31,46,500 NIL 34,95,000

c. Trading of Shares - Sold during the year NIL NIL NIL

- Purchase during the year NIL NIL NIL d. Trading of Dyes - Sold during the year NIL NIL 8,57,177 - Purchase during the year NIL NIL 13,43,292 e. Out Standing Balance:

Receivable (Debtors) NIL NIL 35,090

Receivable (Shares) NIL NIL NIL

Payable (Creditors) NIL NIL NIL

13. EARNING PER SHARE (AS 20):

2005-2006 2004-2005

PROFIT (LOSS) AFTER TAX 11,20,992 5,18,894

NO. OF EQUITY SHARES 1,13,70,000 59,70,000

EARNING PER SHARE (E.P.S.) 0.10 0.09

14. ACCOUNTING FOR TAXES OF INCOME:

The company has dot unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

15. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

16. The High Court of Gujarat has sanctioned the Scheme of Amalgamation under section 394(1) of the Companies Act, 1956 of Sadiram Industries Pvt. Ltd. with the Company vide Order dated 31.03.2006.

- Pursuant to the Scheme of Amalgamation all the Assets & Liabilities of Sadiram Industries Pvt. Ltd. are accounted in the books of Company on 1.4.2005 at book value. As per the Scheme of Amalgamation, three Equity Shares of Rs. 10 each of Roselabs Limited are issued for one Equity Share of Rs. 10 each to share holders of Sadiram Industries Pvt. Ltd.

- The difference between the amount recorded as fresh Share Capital issued by the transferee Company on amalgamation and the amount of share capital of the Transferor Company of Rs.3,60,00,000 is reflected in the revenue reserves of the Company as per the order of High Court.

As per our report of even dated attached herewith

For A. L. Thakkar & Co. For and on behalf of the Board of Directors Chartered Accountants

Sanjiv V. Shah Pawankumar Agrawal Suresh Desai Partner Chairman-Managing Director Director

Place : Ahmedabad Date : 09-08-2006

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Jun 30, 2005

1. Paise are rounded up to the nearest rupee.

2. Previous year figures are regrouped and rearranged whereever necessary.

3. AUDITORS REMUNERATION : 2004-05 2003-04

Audit Fees 33060 33060

4. Additional information pursuant to provisions of paragraphs 4C. 3 and 4D of part II of Schedule VI to the companies Act 1956 (Information given to the extant applicable)

Particulars 2004-05 2003-04

a. Licenced Capacity Not Applicable Not Applicable

b. Instalied Capacity 375 (mt) 375 (mt)

c. Quantitative particulars in respect of Raw-materials consumed during the year

Particulars 2004-05 2003-04 (in Kgs.) (in Kgs.)

Opening Stock 85184.000 34446.000

Purchase 342060.700 593274.000

Consumption 393769.000 530536.000

Sales 0.000 12000.000

Closing Stock (Factory) 33475.700 55899.000

Closing Stock (Jobwork) 0.000 29285.000

d. Quantitative particulars in respect of finished goods

Opening Stock 8442.000 2228.000

Production 149185.000 247925.000

Consumption 131342.000 199594.000

Sales 25058.000 42117.000

Closing Stock 1227.000 8442.000

e. Quantitative particulars in respect of Trading goods

Dyes & Chemicals

Particulars 2004-05 2003-04 (in Kgs.) (in Kgs.)

Opening Stock 0.000 315.000

Purchase 510036.000 8640.000

Sates 470412.000 3955.000

Closing Stock 39624.000 0.000

Pharmaceuticals

Particulars 2004-5 (in Nos/ 2003-4 (in Nos/ Stripes/Pcs.) stripes/pcs)

Opening Stock 0.000 0.000

Purchase 324299.000 0.000

Sales 323767.000 0.000

Closing Stock 532.000 0.000

f. The raw-material consumed

Indigenous 100.00% 100.00%

Imported 0.00% 0.00%

g. Value of goods imported on GIF bases NIL NIL

h. Value of export calculated on FOB value NIL NIL

i. Value of other earning in foreign exchange NIL NIL

5. Expenditure incurred on employees who are in receipt of remuneration on the aggregate of not less than Rs. 24.00.000/- per annum if employed throughout the year and of Rs. 2,00,000/- per month if employed for part of the year No.of Employees.

NIL NIL

Amount paid NIL NIL

6. Balance of Sundry creditors, debtors, loans and advances are subjects to confirmation.

7. The audit has been carried out of the basis of the fresh computerised output reconciled.

8. in the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

9. Schedules "1 to 19" form the integral part of the Balance Sheet as at 30th June 2005 and the Profit & Loss Account for the year ended on that date.

10. We are unable to categories the dues to Small Scale Industries (SSI) seperately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

11. SEGMENTATION REPORTING :

The company is dealing in singly segment i.e. trading of dyes and Chemicals and sales are entirely in the domestic market hence the segmentation reporting in pursuance to accounting standard No. 17 issued by Institute of Chartered Accountants of India not made.

12. RELATED PARTY DISCLOSURES :

List of related parties with whom transactions have taken place during the year.

1. Name of related parties and descriptions of relationshop :

a. Associates/Joint Venture : 1. Roselabs Finance Ltd.

b. Key Management Personnel : 1. Shri Pawankumar Agrawal

2. Shri Sureshbhai Desai

3. Shri Ramavtar Jangid

c. Companies controlled by : 1. Sadiram Industries Directors/Relatives 2. Shivacid (I) Pvt. Ltd.

3. Hanumanprasad Trilokchand

2. Transaction during the year with related parties :

Particulars Associates/ Key, Companies Joint Ventures Management controlled by Personnel Directors/ Relatives a. Loans & Advances

Given during the year NIL NIL 2,39,76,329

- Returned during the year NIL NIL 1,67,72,251

- Balance as at 30-06-2005 NIL NIL 72,04,078

Accepted during the year 7,00,000 NIL NIL

- Repaid during the year 5,00,000 NIL NIL

- Balance as at 30-06-2005 2,00,000 NIL NIL

b. Investments in shares

- Balance as at 30.06.2005 1,38,76,500 NIL 12,00,000

c. Trading of Shares

- Sold during the year NIL NIL NIL

Purchase during the year 5,25,000 NIL 24,700

d. Trading of Dyes

- Sold during the year NIL NIL 11,35,908

Purchase during the year NIL NIL 6,11,489

e. Out Standing Balance

- Receivable (Debtors) NIL NIL 4,24,867

- Receivable (Shares) NIL NIL NIL

- Payable (Creditors) NIL NIL 55,000

13. EARNING PER SHARE (AS 20)

2004-2005 2003-2004

PROFIT(LOSS) AFTER TAX : 5,18,894 1,43,132

NO. OF EQUITY SHARES : 59,70,000 59,70,000

EARNING PER SHARE [E.P.S.] : 0.09 0.02

14. ACCOUNTING FOR TAXES OF INCOME

The company has" got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

15. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied, on the authentication given by the management.

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Jun 30, 2003

1. Paise are rounded up to the nearest rupee.

2. Previous years figures are regrouped and rearranged wherever necessary.

3. Expenditure incurred on employees who are in receipt of remuneration on the aggregate of not less than Rs. 24,00,000/- per annum if employed throughout the year and of Rs. 2,00,000/- per month if employed for part of the year.

No.of Employees. NIL NIL Amount paid NIL NIL

4. Balance of Sundry creditors, debtors, loans and advances are subjects to confirmation.

5. The audit has been carried out of the basis of the fresh computerised output reconclied.

6. In the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

7. Schedules "1 to 19" forms the integral part of the Balance Sheet as at 30th June 2003 and the Profit & Loss Account for the year ended on that date.

8. We are unable to categories the dues to Small Scale Industries (SSI) seperately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

9. SEGMENTATION REPORTING :

The company is dealing in singly segment i.e. trading of dyes and Chemicals and sales are entirely in the domestic market hence the segmentation reporting in pursuance to accounting standard No. 17 issued by institute of Chartered Accountants of India not made.

10. RELATED PARTY DISCLOSURES :

List of related parties with whom transactions have taken place during the year.

1. Name of related parties and descriptions of relationship :

a. Associates/Joint Venture :

1. Sadiram Industries Ltd. 2. Roselabs Finance Ltd. 3. Singhal Overseas Ltd.

b. Key Management personnel :

1. Shri Pavankumar Agrawal 2. Shri Sureshbhai Desai 3. Shri Ashish Raval

c. Companies controlled by Directors/Relatives :

1. Micro Disperse Dyes 2. Shivacid (I) Pvt. Ltd. 3. Hanumanprasad Trilokchand 4. Gujarat Arth Limited 5. Shree Trilok Dye-Synth. Pvt. Ltd.

11. ACCOUNTING FOR TAXES OF INCOME

The company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

12. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

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Jun 30, 2002

1. Paise are rounded up to the nearest rupee.

2. Previous years figures are regrouped and rearranged wherever necessary.

3. AUDITORS REMUNERATION:

2001-02 2000-01

Audit Fees 31500 31500

4. Additional information pursuant to provisions of paragraphs 4C, 3 and 4D of part II of Schedule VI to the companies Act 1956 (Information given to the extant applicable)

Particulars 2001-02 2000-01

a. Licenced Capacity Not Applicable Not Applicable

b. Installed Capacity 375 (mt) 375 (mt)

c. Quantitative particulars in respect of Raw-materials consumed during the year.

Particulars 2001-02 2000-01 (in Kgs.) (in Kgs.)

Opening Stock 51855.000 40142.000

Purchase 286173.000 372462.000

Consumption 296293.000 360749.000

Sales 0.000 0.000

Closing Stock 41735.000 51855.000

d. Quantitative particulars in respect of finished goods

Opening Stock 1547.000 4787.000

Production 145124.000 178503.500

Consumption 111938.000 138078.500

Sales 30575.000 43665.000

Closing Stock 4158.000 1547.000

e. Quantitative particulars in respect of Trading goods

Dyes & Chemicals

Opening Stock 171161.603 64314.223

Purchase 87246.000 249710.380

Sales 230019.603 142863.000

Closing Stock 28388.000 171161.603

f. The raw-material consumed

Indigenous 100.00% 100.00%

Imported 0.00% 0.00%

g. Value of goods imported on CIF bases NIL NIL

h. Value of export calculated on FOB value NIL NIL

i. Value of other earning in foreign exchange NIL NIL

5. Expenditure incurred on employees who are in receipt of remuneration on the aggregate of not less than Rs. 24,00,000/- per annum if employed throughout the year and of Rs. 2,00,000/- per month if employed for part of the year.

No. of Employees. NIL NIL

Amount paid NIL NIL

6. Quotation of stock exchange to ascertain market value of quoted investments were not available as on Balance sheet date. No demunition/accretion in the market value of quoted shares in investments were dealt with since the company has treated all the investment as:

long term. Demunition/accretion is made only if such decline is other than temporary in the opinion of the management.

7. Balance of Sundry creditors, debtors, loans and advances are subjects to confirmation.

8. The audit has been carried out of the basis of the fresh computerised output reconciled.

9. The company has advised that the computation of the net profit under section 349 of the Companies Act, 1956 need not be made since no remuneration/commission is paid/payable under section 348 of the Companies Act, 1948 for the year ended 30th June, 2002.

10. In the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

11. Schedules "1 to 19" forms the integral part of the Balance Sheet as at 30th June 2002 and the Profit & Loss Account for the year ended on that date.

12. We are unable to categories the dues to Small Scale Industries (SSI) seperately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

13. SEGMENTATION REPORTING:

The company is dealing in singly segment i.e. trading of dyes and Chemicals and sales are entirely in the domestic market hence the segmentation reporting in pursuance to accounting standard No. 17 issued by institute of Chartered Accountants of India not made.

14. RELATED PARTY DISCLOSURES:

During the year the company entered into transaction with the relating parties. Those transactions along with related balances as at 30th June, 2002 and for the year then ended are presented in the following table

List of related parties with whom transactions have taken place during the year along with nature and volume of transactions.

a. Sadiram Industries (P) Ltd.

b. Shivacid (India) Pvt. Ltd.

c. Shri Trilok Dye-Synth Pvt. Ltd.

d. Singhai Overseas Ltd.

e. Sadiram Estate

f. Singhal Textiles

g. Micro Disperse Dyes

h. Hanumanprasad Trilokchand

i. Roselabs Finance Ltd.

j. Madhu Chem

Nature of transaction: Current Yr.

Purchase: 2097879

Sales: 14180176

Loans & Advances granted 5648672

Loans & Advances refunded 2824573

Unsecured Loans taken 6685407

Unsecured Loans refunded 6587757

Expenses 756183

Outstanding Balance as at the year end Receivable (Debtors) 9733164

Payable (Creditors) 207770

Loans & Advances 2824099

Unsecured Loans 97650

15. EARNING PER SHARE (AS 20)

2001-2002 2000-2001

PROFIT(LOSS) AFTER TAX: 75,885 86,562

NO. OF EQUITY SHARES: 59,70,000 59,70,000

EARNING PER SHARE (E. P. S.): 0.01 0.01

16. ACCOUNTING FOR TAXES OF INCOME

The company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

17. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

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Jun 30, 2000

NOTES ON ACCOUNTS :

(Rs. In Lacs) -------------------------- 01. Contingent Liabilities 1999-00 1998-99 -------------------------- (not provided for in respect of)

a) Letter of Credit NIL NIL

2. The figures of the previous year have been regrouped/rearranged wherever necessary to confirm to this period's classification. Figures have been rounded off to the nearest rupee.

3. Sundry Debit and Credit Balance are as per the Books of Accounts and subject to confirmation.

4. Fixed Assets are stated at their original cost less depreciation. Costs includes inward, freight, duties and taxes and expenses incidental to acquisition and installation.

Depreciation on fixed asset have been provided under the Straight Line Method as per rate prescribed in schedule XIV of the Companies act, 1956.

5. Production figures have been ascertained on the basis of production report summary. Inventory is bases upon physical verification conducted by the management. The quantities of Inventory Sales, Purchase are taken on the basis of details worked out from the bills.

6. Auditors' Remuneration : 1999-00 1998-99 Audit Fees 31,500 31,500 Other Matters 0 0

7. Additional Information Pursuant to Provisions of paragraphs 4C, 3, and 4D of part II of Schedule VI to the companies Act, 1956 (Information given to the extent applicable)

----------------------------------------------------------------------- Particulars 1999-00 1998-99 ----------------------------------------------------------------------- a. Licenced Capacity Not Applicable Not Applicable b. Installed Capacity 375 (mt) 375 (mt) c. Quantitative particulars in respect of Raw materials consumed during year. -----------------------------------------------------------------------

8. Contingent liabilities:

Contingent liabilities are not provided for in the accounts are separately shown elsewhere.

9. Sales includes sales tax, Excise duty and net Sales return.

10. Miscellaneous Expenditure:

Preliminary expenses are written off over a period of 10 financial years starting from the year in which they are incurred.

Deferred revenue expenditure are written off over a period of 5 years starting from previous year.

Share issue expenses are amortised in 10 financial years from the year of the allotment of the issue.

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Jun 30, 1999

(Rs. In Lacs)

1. Contingent Liabilities 1998-99 1997-98 (not provided for in respect of)

a) Letter of Credit NIL NIL

2. The figures of the previous year have been regrouped/rearranged wherever necessary to confirm to this period's classification. Figures have been rounded off to the nearest rupee.

3. Sundry Debit and Credit Balances are as per the Books of Accounts and subject to confirmation.

4. Fixed Assets are stated at their original cost less depreciation. Costs includes inward, freight, duties and taxes and expenses incidental to acquisition and installation.

Depreciation on fixed assets have been provided under the Straight Line Method as per rate prescribed in Schedule XIV of the Companies Act, 1956.

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Jun 30, 1998

1.LOAN FUNDS

A. SECURED LOAN

Bank of Baroda

(Secured Against Hypothecation of Machineries, Stocks, and Bookdebts & Personal guarantee. of Directors)

G.L.F.L. Tata Estate Loan (Secured Against Hypothecation of Tata Estate)

G.L.F.L. Other Loan (Secured Against Hypothecation of Equipments)

Ind Bank Merchant Banking Services (Secured by way of Charge on Machineries)

2. The figures of the previous year have been regrouped / rearranged wherever necessary to confirm to this period's classification. Figures have been rounded off to the nearest rupee.

3. Sundry Debit and Credit Balances are as per the Books of Accounts and subject to confirmation.

4. Fixed Assets are stated at their original cost less depreciation. Costs includes inward, freight, duties and taxes and expenses incidental to acquisition and installation. Depreciation on fixed assets have been provided under the Straight Line Method as per rate presribed in Schedule XIV of the Companies Act, 1956.

5. Production figures have been ascertained on the basis of production report summary. Inventory is bases upon Physical verification conducted by the management. The quantities of Inventory, Sales, Purchases are taken on the basis of details worked out from the bills.

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Jun 30, 1997

Details not available in 1997-98 report.

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Jun 30, 1996

1. Sundry Debit and Credit Balances are as per the Books of Accounts and subject to confirmation.

2. Fixed Assets are stated at their original cost less depreciation. Costs includes inward, freight, duties and taxes and expenses Incidental to acquisition and installation.

Depreciation on fixed assets have been provided under the Straight Line Method as per rate prescribed in Schedule XIV of the Companies Act, 1956.

3. Production figures have been ascertained on the basis of production report summary. Inventory is bases upon Physical verification conducted by the management. The quantities of Inventory, Sales Purchases are taken on the basis of details worked out from the bills.