Notes to Accounts of Carysil Ltd.

Mar 31, 2023

Provisions and contingent liabilities

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

Disclosure of contingent liability is made

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
embodying economic benefits will be
required to settle or a reliable estimate of
amount cannot be made. Contingent assets
are neither recognised nor disclosed in the
financial statements.

q. Borrowing costs

Borrowing costs consist of interest and
other costs that the Company incurs in
connection with the borrowing of funds.
Also, the effective interest rate amortisation
is included in finance costs. Borrowing
costs relating to acquisition, construction
or production of a qualifying asset which
takes substantial period of time to get ready
for its intended use are added to the cost of
such asset to the extent they relate to the
period till such assets are ready to be put to
use. All other borrowing costs are expensed
in the statement of profit and loss in the
period in which they occur.

r. Impairment of non financial assets

As at each reporting date, the Company
assesses whether there is an indication
that a non-financial asset may be impaired
and also whether there is an indication of
reversal of impairment loss recognised in
the previous periods. If any indication exists,
or when annual impairment testing for an
asset is required, the Company determines
the recoverable amount and impairment
loss is recognised when the carrying
amount of an asset exceeds its recoverable
amount. If the amount of impairment loss
subsequently decreases and the decrease
can be related objectively to an event occurring after
the impairment was recognised, then the previously
recognised impairment loss is reversed through the
statement of profit and loss.

s. Taxation

Income tax expense comprises current
tax expense and the deferred tax during
the year. Current and deferred taxes are

recognised in the statement of profit and
loss, except when they relate to items that
are recognised in other comprehensive
income or directly in equity, in which
case, the current and deferred tax are also
recognised in other comprehensive income
or directly in equity, respectively.

Current income tax is recognised based
on the estimated tax liability computed
after taking credit for allowances and
exemptions in accordance with the Income
Tax Act, 1961. Current income tax assets
and liabilities are measured at the amount
expected to be recovered from or paid to the
taxation authorities. The tax rates and tax
laws used to compute the amount are those
that are enacted or substantively enacted,
at the reporting date.

Deferred tax is recognised on temporary
differences between the carrying amounts
of assets and liabilities in the financial
statements and the corresponding tax
bases used in the computation of taxable
profit.

Deferred tax liabilities are generally
recognised for all taxable temporary
differences. Deferred tax assets are
recognised for unused tax losses, unused
tax credits and deductible temporary
differences to the extent that it is probable
that future taxable profits will be available
against which they can be used.

The carrying amount of deferred tax
is reviewed at each reporting date and
measured at the tax rates that are expected
to be applied to temporary differences when
they reverse, using tax rates enacted or
substantively enacted at the reporting date.
The measurement of deferred tax reflects
the tax consequences that would follow
from the manner in which the Company
expects, at the reporting date, to recover or
settle the carrying amount of its assets and
liabilities.

t. Earnings per share

(i) Basic earnings per share is computed
by dividing the net profit or loss for
the period attributable to the equity
shareholders of the Company by the

weighted average number of equity
shares outstanding during the period.
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 equity shares that have
changed the number of equity shares
outstanding, without a corresponding
change in resources.

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

u. Segment reporting

Operating segments are reported in a
manner consistent with the internal
reporting provided to the operating decision
makers. The decision makers regularly
monitor and review the operating result
of the whole Company. The activities of
the Company primarily fall under a single
segment of "manufacturing and trading
of kitchen sinks and other appliances" in
accordance with the Ind AS 108 "Operating
Segments".

v. Offsetting instruments

Financial assets and liabilities are offset
and the net amount reported in the balance
sheet when there is a legally enforceable
right to offset the recognised amounts and
there is an intention to settle on a net basis
or realise the asset and settle the liability
simultaneously. The legally enforceable
right must not be contingent on future
events and must be enforceable in the
normal course of business and in the event
of default, insolvency or bankruptcy of the
Company or the counterparty.

w. Events after the reporting period

Adjusting events are events that provide
further evidence of conditions that existed

at the end of the reporting period. The
financial statements are adjusted for such
events before authorisation for issue.

Non-adjusting events are events that are
indicative of conditions that arose after
end of the reporting period. Non-adjusting
events after the reporting date are not
accounted, but disclosed.

x. Recent pronouncements The Ministry of
Corporate Affairs has vide notification dated
March 31, 2023 notified Companies (Indian
Accounting Standards) Amendment Rules,

2023 (the ''Rules'') which amends certain
accounting standards, and are effective
April 01, 2023. The Rules predominantly
amends Ind AS 1, Presentation of financial
statements and Ind AS 12, Income taxes,
whereas the other amendments notified
by these rules are primarily in the nature
of clarifications. As per the Management''s
assessment, these amendments are
not expected to have a material impact
on the Company in the current or future
reporting periods and on foreseeable future
transactions.

---

Mar 31, 2018

COMPANY INFORMATION

Acrysil Limited ("the Company") is a public limited company domiciled in India and incorporated on 19th January, 1987 under the provisions of the Companies Act applicable in India. The Company is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories. The registered office of the Company is located at B-307, Citi Point, J B Nagar, Andheri-Kurla Road, Andheri (East), Mumbai - 400 059. The equity shares of the Company are listed on the Bombay Stock Exchange (BSE).

The standalone Ind AS financial statements (''the financial statements") were authorized for issue in accordance with the resolution of the Board of Directors on 29th May, 2018.

1 BASIS OF PREPARATION, MEASUREMENT AND SIGNIFICANT ACCOUNTING POLICIES

1.1 Basis of preparation and measurement:

These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the ''Ind AS'') as notified by Ministry of Corporate Affairs pursuant to section 133 of the Companies Act, 2013 and the Companies (Indian Accounting Standards) Rules, 2015, as applicable.

The financial statements for the year ended 31st March, 2018 are the first financial statements prepared by the Company under Ind AS. For all periods up to and including the year ended 31st March, 2017, the Company prepared its financial statements in accordance with the accounting standards notified under the section 133 of the Companies Act 2013, read together with Rule 7 of the Companies (Accounts) Rules, 2014 (hereinafter referred to as ''Previous GAAP'') used for its statutory reporting requirement in India immediately before adopting Ind AS. The financial statements for the year ended 31st March, 2017 and the opening Balance Sheet as at 1st April, 2016 have been restated in accordance with Ind AS for comparative information. Reconciliations and explanations of the effect of the transition from Previous GAAP to Ind AS on the Company''s balance sheet, statement of profit and loss and statement of cash flows are provided in note 1.3 d.

The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied consistently to all the periods presented in the financial statements, including the preparation of the opening Ind AS Balance Sheet as at 1st April, 2016 being the date of transition to Ind AS. All assets and liabilities have been classified as current or non current as per the Company''s normal operating cycle and other criteria as set out in the Division II of Schedule III to the Companies Act, 2013. The Company considers 12 month period as normal operating cycle.

The Company''s financial statements are reported in Indian Rupees, which is also the company''s functional currency.

1 The Company has considered fair value for property, viz. land as on transition date, i.e. 1st April 2016 with impact of Rs. 1,596.90 lakhs in accordance with stipulations of Ind AS 101 with the resultant impact being accounted for in the reserves.

2 Under Ind AS, security deposits are valued at present value as compared to being carried at cost in the previous GAAP. This adjustment includes the difference between the book value and the present value of an interest free security deposits or security deposits below market rate given to subsidiary companies. The interest on the present value of this loan is recognized over the tenure of the loan using the EIR method.

3 Under Ind AS, the Company recognized the provision for expected credit loss as per the Expected Credit Loss (ECL) policy of the Company as set out in accordance with Ind AS 101. Differences in the provisions are adjusted under trade receivables.

4 Consequential tax impact of the other Ind AS transitional adjustments lead to temporary timing differences. Deferred tax adjustments are recognized in correlation to the underlying transaction either in retained earnings or through comprehensive income.

5 Under Ind AS, loans are valued at present value as compared to being carried at cost in the previous GAAP. This adjustment includes the difference between the book value and the present value of an interest free loan or loan below market rate taken from a wholly owned subsidiary. The interest on the present value of this loan is recognized over the tenure of the loan using the EIR method.

6 The Company recognizes the cost related to its post employment defined benefit plan on an actuarial basis both under previous GAAP and Ind AS. Under previous GAAP, entire cost including actuarial gains and losses and return on planned assets are charged to profit or loss. Under Ind AS, the actuarial gains and losses and returns on planned assets are recognized immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income.

7 Under the previous GAAP, dividends proposed by the Board of Directors after the balance sheet date but before the approval of the financial statements by the shareholders were considered as adjusting events. Accordingly, provision for proposed dividend was recognized as liability. Under Ind AS, such dividends are recognized when the same is approved by the shareholders in the general meeting. Accordingly, the liability of proposed dividend and dividend distribution tax thereon, included under provisions has been reversed with corresponding adjustment to retained earnings.

8 There are no material adjustments of transition to the statement of cash flows to conform to Ind AS presentation for the year ended 31st March, 2017.

Rights, preferences and restrictions attached to shares

The company has one class of equity shares having a face value of Rs.10 each ranking pari pasu in all respect including voting rights and entitlement to dividend. Each holder of equity shares is entitled to one vote per share. Dividend proposed by the board of directors and approved by the shareholders in the annual general meeting is paid to the shareholders.

Capital reserve: This represents capital grants received in the past years.

General reserve: The Company has transferred a portion of the net profit of the Company before declaring dividend to general reserve puruant to the earlier provisions of the Companies Act, 1956. Mandatory transfer to general reserve is not required under Companies Act, 2013.

Securities premium account: Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act.

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

Net gain/(loss) on fair value of defined benefit plans: The Company has recognised remeasurement gains/(loss) on defined benefit plans in OCI. These changes are accumalated within the OCI reserve within other equity. The Company transfers amount from this reserve to retained earning when the relevant obligations are derecognized.

Note: Term loans from banks are secured by first hypothecation charge on entire movable fixed assets of the Company, both present & future, on pari-passu basis, further secured by the first pari-passu charge on immovable properties of the Company and personal guarantee of one of the directors of the Company. Term loans for vehicles are against hypothication of vehicles.

Working capital finance from banks are secured by first hypothecation charge on entire current assets of the Company, both present and future, ranking pari-passu, second charge on entire movable fixed assets of the Company (excluding vehicles) both present and future and personal guarantee of one of the directors of the Company.

The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence, disclosures relating to the amounts unpaid as at the year end together with interest paid/payable under the said Act have not been given.

A. Credit Risk

Credit risk referes to the risk of a counter party default on its contractual obligation resulting into a financial loss to the Company. The maximum exposure of the financial assets represents trade receivables and receivables from group companies and others.

In respect of trade receivables, the Company uses a provision matrix to compute the expected credit loss allowances for trade recivables in accordance with the excepcted credit loss (ECL) policy of the Company. The Company regulary reviews trade receivables and necessary provisions, whenever required , are made in the financial statements.

B. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet its commitments associated with financial instruments. Liquidity risk may result from an inability to sell a financial assets quickly at close to its fair value.

The Company manages liquidity risk by maintaining adequate reserves and banking facilities by continuously monitoring forcast and actual cash flows and by matching the maturity profiles of financial assets and liabilities.

C. Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

The Company has several balances in foreign currency and consequently, the Company is exposed to foreign exchange risk. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates. The Company manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings.

e) Foreign currency sensitivity

The Company is mainly exposed to changes in USD, GBP and EURO. The below table demostrates the sentivity to a 5% increase or decrease in the USD, GBP and EURO against INR, with all other variables held constant. The sentivity analysis is prepared on the the net unhedged exposure of the Company as at reporting date. 5% represents management''s assessment of reasonably possible change in foreign exchange rate.

Note 2

Capital management

The Company''s capital management objective is to maximise the total shareholder returns by optimising cost of capital through flexible capital structure that supports growth. Further, the Company ensures optimal credit risk profile to maintain/enhance credit rating.

The Company determines the amount of capital required on the basis of annual operating plan and long-term strategic plans. The funding requirements are met through internal accruals and long-term/short-term borrowings. The Company monitors the capital structure on the basis of net debt to equity ratio and maturity profile of the overall debt portfolio of the company.

The following table summarises the capital of the Company:

Note 3

Employee benefits Funded Scheme - Gratuity

Liability for employee gratuity has been determined by an actuary, appointed for the purpose, in confirmity with the principles set out in the Indian Accounting Standard 19 the details of which are as hereunder. The Company makes contributions to approved

Note 4

Disclosure as required by the Ind AS 17, "Leases" as specified in the companies ( Accounting Standard ) rules 2015 (as amended ) are given below :

a) The aggregate lease rentals payable are charged to the Statement of Profit & Loss as Rent in Note 27.

b) The Company has taken properties on operating lease. The lease rentals are payable by the Company on a monthly or quarterly basis.

5. Balances for trade receivables, trade payables and loans and advances are subject to confirmations from the respective parties.

6. All the amounts are stated in Rs. in lakhs, unless otherwise stated.

7. Previous year''s figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2016

1. Rights, Preferences and Restrictions attached to Shares Equity Shares

The Company has one class of equity shares having a face value of ''10 each ranking pari passu in all respects including voting rights and entitlement to dividend.

2. Balances for trade receivables, trade payables and loans and advances are subject to confirmations from the respective parties.

3. In the opinion of the directors, current assets, loans and advances are of the value stated in the Balance Sheet, if realized in the normal course of the business and also provisions for all known liabilities have been made.

4. Deferred tax liability of Rs.3,306,000 arising during the year, a major component of which is due to timing difference related to depreciation charged in the accounts and as claimed under Income Tax Act, is charged to the Profit & Loss Statement. Details of the balance of Rs.33,821,000 are as under:

5. Contingent Liabilities

- In respect of disputed excise duty: Rs.109,659 (109,659)

- In respect of disputed custom duty: Rs.4,154,490 (4,154,490)

- In respect of guarantees given on behalf of a subsidiary company: Rs.235,400,000 (225,500,000)

6. Figures in the brackets are the figures for the previous year, unless otherwise stated.

7. All the amounts are stated in Indian Rupees, unless otherwise stated.

8. Previous year''s figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2015

Note No. 1

a. Equity shares issued as fully paid up bonus shares or otherwise than by cash during the preceding five years: 1,486,000

2.1 Rights, Preferences and Restrictions attached to Shares:

Equity Shares:

The Company has one class of equity shares having a face value of Rs.10 each ranking Pari Passu in all respects including voting rights and entitlement to dividend.

3. Balances for trade receivables, trade payables and loans and advances are subject to confirmations from the respective parties.

4. In the opinion of the directors, current assets, loans and advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

5. Deferred tax liability of Rs. 8,757,471 arising during the year, a major component of which is due to timing difference related to depreciation charged in the accounts and as claimed under Income Tax Act, is charged to the Profit & Loss Statement. Details of the balance of Rs. 30,515,000 are as under:

6. Depreciation for the year ended 31st March, 2015 has been aligned to comply with requirements of Part C of Schedule II to the Companies Act. 2013. Consequently, depreciation charge is lower by Rs. 14,325,274 for the year ended 31st March, 2015. Further, an amount of Rs. 733,060 (net of deferred tax Rs. 377,470) in respect of the fixed assets where the useful lives has already expired, has been adjusted to the opening balance of the general reserve.

7. Contingent Liabilitites:

- In respect of disputed excise duty: Rs. 109,659 (109,659)

- In respect of disputed custom duty: Rs. 4,154,490 (6,231,735)

- In respect of guarantees given on behalf of a subsidiary company: Rs. 225,500,000 (84,000,000)

8. Figures in the brackets are the figures for the previous year, unless otherwise stated.

9. All the amounts are stated in Indian Rupees, unless otherwise stated.

10. Previous year's figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2014

1. Rights, Preferences and Restrictions attached to Shares:

Equity Shares

The Company has one class of equity shares having a face value of Rs.10 each ranking Pari Passu in all respects including voting rights and entitlement to dividend.

2. Balances with sundry debtors, sundry creditors and for loans and advances are subject to confirmations from the respective parties.

3. In the opinion of the directors, current assets, loans and advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

4. Deferred tax liability of Rs.2,915,000 arising during the year, a major component of which is due to timing difference related to depreciation charged in the accounts and as claimed under Income Tax Act, is charged to the Profit & Loss Account. Details of the balance of Rs.22,135,000 are as under:

5. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to the amounts unpaid as at the year-end together with interest paid/ payable under this Act have not been given.

6. Contingent Liabilitites

- In respect of Excise Duty claim disputed by Excise Authorities: Rs.109,659 (Rs.109,659)

- In respect of disputed Custom Duty Rs.6,231,735 (6,244,201)

- In respect of corporate guarantees given by the company on behalf of a subsidiary company Rs.84,000,000 (Rs.62,500,000)

7. During the year, the Company issued 50,000 convertible equity warrants of Rs. 10 each to Acrycol Minerals Limited, a Body Corporate under the Promoters'' Group on preferential basis at a premium of Rs. 90 per warrant. Against the said warrants, 50,000 shares were allotted during the year. Accordingly, share capital of the Company has been increased to that extent.

8. Figures in the brackets are the figures for the previous year, unless otherwise stated.

9. All the amounts are stated in Indian Rupees, unless otherwise stated.

10. Previous year''s figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2013

1 Balances with Sundry Debtors, Sundry Creditors and for Loans and Advances are subject to confirmations from the respective parties.

2. In the opinion of the Directors, Current Assets, Loans and Advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

3 Deferred tax liability of Rs.2,320,000 arising during the year, a major component of which is due to timing difference related to depreciation charged in the accounts and as claimed under Income Tax Act, is charged to the Profit & Loss Account. Details of the balance of Rs.19,220,000 are as under:

4 The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to the amounts unpaid as at the year-end together with interest paid/ payable under this Act have not been given.

5. Contingent Liabilitites

- In respect of Excise Duty claim disputed by Excise Authorities: Rs.109,659 (Rs.109,659)

- In respect of disputed Custom Duty Rs.6,244,201 (Nil)

- In respect of corporate guarantees given by the company on behalf of a subsidiary company Rs.62,500,000 (Rs.84,000,000)

6. Figures in the brackets are the figures for the previous year, unless otherwise stated.

7. All the amounts are stated in Indian Rupees, unless otherwise stated.

8. Previous year''s figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2012

1. Balances with Sundry Debtors, Sundry Creditors and for Loans and Advances are subject to confirmations from the respective parties.

2. In the opinion of the Directors, Current Assets, Loans and Advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

3. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to the amounts unpaid as at the year-end together with interest paid/payable under this Act have not been given.

4. Contingent Liabilitites:

- In respect of Excise Duty claim disputed by Excise Authorities: Rs 109,659

- In respect of corporate guarantees given by the company on behalf of a subsidiary company Rs 84,000,000 (84,000,000)

5. Figures in the brackets are the figures for the previous year, unless otherwise stated.

6. All the amounts are stated in Indian Rupees, unless otherwise stated.

7. Previous year's figures are regrouped and rearranged, wherever necessary.

---

Mar 31, 2011

1. Balances with Sundry Debtors, Sundry Creditors and for Loans and Advances are subject to confirmations from the respective parties.

2. In the opinion of the Directors, Current Assets, Loans and Advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

3. Deferred tax liability of Rs. 1,264,239 arising during the year, a major component of which is due to timing difference related to depreciation charged in the accounts and as claimed under Income Tax Act, is charged to the Profit & Loss Account. Details of the balance of Rs. 13,900,000 are as under:

4. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to the amounts unpaid as at the year-end together with interest paid/payable under this Act have not been given.

5. CONTINGENT LIABILITIES:

- In respect of Excise Duty claim disputed by Excise Authorities: Rs. 109,659 (Rs. 109,659).

- In respect of disputed Income tax liability of Rs. NIL (Rs. 921,203)

- In respect of corporate guarantees given by the company on behalf of a subsidiary company Rs. 84,000,000 (NIL)

6. RELATED PARTY DISCLOSURES:

Associates

Industrial Jewels Private Limited Meccanica Plast Private Limited Desai Desai Carrimjee & Mulla

Key Managerial Personnel

Shri Ashwin M Parekh Shri Chirag A Parekh

Subsidiary Companies

Acrysil Steel Private Limited Acrysil Quartz Private Limited Acrysil GmbH, Koln - Germany

---

Mar 31, 2010

1. Balances with Sundry Debtors, Sundry Creditors and for Loans and Advances are subject to confirmations from the respective parties. In absence of such confirmations, the balances as per books have been relied upon by the Auditors.

2. In the opinion of the Directors, Current Assets, Loans and Advances are of the value stated in the Balance Sheet, if realised in the normal course of the business and also provisions for all known liabilities have been made.

3. As per the resolution passed by the Board, dividend on 1,41,000 shares allotted to the promoters on 04.06.2009 upon conversion of the warrants, is proposed on pro-rata basis.

4. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to the amounts unpaid as at the year-end together with interest paid/payable under this Act have not been given.

5. CONTINGENT LIABILITIES:

In respect of Excise Duty claim disputed by Excise Authorities: Rs. 109,659 (Rs. 109,659).

- In respect of disputed Income tax liability of Rs. 921,203 (Rs. 921,203)

- Claims against the Company, not acknowledged as debt Rs. Nil (Rs. 2,000,500)

6. RELATED PARTY DISCLOSURES:

Associates

Industrial Jewels Private Limited Meccanica Plast Private Limited Anilaben Labhuma Parekh Charitable Trust Desai Desai & Carrimjee

Key Managerial Personnel

Shri Ashwin M Parekh

Shri Chirag A Parekh

a. Figures in the brackets are the figures for the previous year, unless otherwise stated.

b. All the amounts are stated in Indian Rupees, unless otherwise stated.

c. Previous years figures are regrouped and rearranged, wherever necessary.