Notes to Accounts of Amkay Products Ltd.

Mar 31, 2025

14. CONTINGENT LIABILITIES AND PROVISIONS

Provisions are recognized only when there is a present obligation as a result of past events
and when a reliable estimate of the amount of obligation can be made.

Contingent Liability is disclosed for

a) Possible obligation which will be confirmed only by future events not wholly within the
control of the Company or

b) Present obligations arising from the past events where it is not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount of the
obligation cannot be made.

c) Contingent Assets are not recognized in the financial statements since this may result in the
recognition of income that may never be realized.

A disclosure for a contingent liability is made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources. Where there is a

possible obligation or a present obligation that the likelihood of outflow of resources is
remote, no provision or disclosure is made.

15. EARNINGS PER SHARE:

In determining the Earnings Per share, the company considers the net profit after tax which
does not include any post tax effect of any extraordinary / exceptional item. The number of
shares used in computing basic earnings per share is the weighted average number of shares
outstanding during the period. Bonus of Equity share and split in face value of equity share of
company has been considered as if it took place at the beginning of previous reporting period.

16. CASH FLOW:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for
the effects of transactions of non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or expenses associated with investing
or financing cash flows. Cash flows from operating, investing and financing activities of the
Company are segregated, accordingly.

34 Related Party Disclosure (AS-18) -

Related Parties has been identified by the management and all trasnaction are on arm length Basis and reported in Annexure B

35 DISCLOSURES AS REQUIRED BY ACCOUNTING STANDARD (AS) 15 EMPLOYEE BENEFITS (REVISED]

a. Defined Contribution Plan:

The Company has certain defined contribution plans viz. provident fund , ESIC. Contributions are made to provident fund in
India for employees at the specific rate of basic salary as per regulations. The contributions are made to registered provident
fund administered by the government. The obligation of the Company is limited to the amount contributed and it has no further
contractual nor any constructive obligation.

An amount of Rs 15.65Lakhs (P.Y. Rs 14.00 Lakhs) is recognised as an Employer PF expenses and included in employee
benefit expense in Restated Statement of Profit and Loss account for the FY 2024-25 and 2023-24 respectively.

An amount of Rs 6.10 Lakhs, Rs 5.72 Lakhs is recognised as an Employer ESIC expenses and included in employee benefit
expense in Financial Statement of Profit and Loss account for the FY 2024-25 and 2023-24 respectively.

b. Defined Benefit Plan

The Gratuity scheme is a final salary defined benefit plan that provides for a lump sum payment made on exit either by way of
retirement, death, disability or voluntary withdrawal. The benefits are defined on the basis of final salary and the period of
service and paid as lump sum at exit. Benefits provided under this plan is as per the requirement of the Payment of Gratuity Act,

1972. The scheme is unfunded.

36 Realization-:

In some cases debit or credit balances of parties in respect of Sundry debtors, sundry creditors are subject to confirmation. In the
opinion of the Board, the current Assets, Loans and Advances are of the Value stated if realized in ordinary course of business. The
provision for all known Liabilities as adequate and not in excess of the amount reasonably required.

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

38 Since the Company is not availing the working capital limit of More than 500.00 Lakhs, therefore additional disclosure with regard to

stock and book debt statement/Quaretrly Returns submitted to working capital lender and their comparison with books of accounts
is not applicable to the Company.

39 During the year ended 31st March 2025, there is no transactions with Struck off Companies.

40 There is no capital work in progress as on the end of year, therfore no disclosure as required for capital work in progress

41 During the year ended on 31 st March 2025. there is no proceeding initated or pending against the company for holding any Benami
Property as per the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, therfore no
disclosure as required by schedule III is given.

42 During the year ended 31st March 2025, Company has not been declared as willful defaulter.

43 Various Financial Ratio, alongwith details of Numerator and denominator etc. and the reason for deviation more than 25% as
compared to previous year has been disclosed in Annexure C attached.

44 As on the 31st March 2025, there is no charge pending for creation or satisfaction at MCA portal, and all the charge filing was done
within the stipulated time period only.

45 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign
entities(intermediaries), with the understanding that the intermediary shall;

i. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (Ultimate Beneficiaries), or

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

46 The Company has not received any funds 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;

i. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding
Party (Ultimate beneficiaries), or

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

47 The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or
disclosed as income during the period 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

49 Details of CSR

CSR Provisions of Companies Act 2013 is not applicable to the Company during the year.

50 Director Personal Expenses

There are no direct personal expenses debited to the profit and loss account. However, personal expenditure if included in
expenses like telephone, vehicle expenses etc. are not identifiable or separable.

51 No dividend were declared and paid by the company during the year and previous year.

52 The Company has not utilised the borrowings received from banks and financial institutions for the purpose other than for which it
was taken during the year.

53 Figures have been rounded off to the multiple of Lakhs. Previous year''s figures have been regrouped, recast and rearranged
wherever necessary to make them comparable with the current year figures.

For R K Jagetiya & Co. FOR AM KAY PRODUCTS LIMITED.

Chartered Accountants
FRN - 146264W

Kashyap P. Mody Hemanshu Batavia

DIN No : 01717036 DIN No : 05118012

Managing Director & Chairman Whole Time Director & CFO

CA Ravi K Jagetiya

M. NO. 134691

Place: Mumbai Krishna Rathi

Date: 23rd May, 2025 Company Secretary

Place: Mumbai PAN: CDXPR9096R

UDIN: 25134691BMGTEJ1575_

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Mar 31, 2024

Note 30: Contingent Liability

There is no Contingent liabilities pending to be disclosed in financial statements except as under-:

a) TDS Defaults Rs 2.09 Lakhs (P.Y. 1.59 Lakhs)

b) Bank Guarantee issued and outstanding as on the Period end 31st March 24 - Rs 50.30 Lakhs. (P.Y. 25.63 Lakhs)

c) Capital commitment of Solar System Plant 49.20 Lakhs against which advance payment made against PO of Rs. 42.50 Lakhs(P.Y.35.91 Lakhs) and (d) GST Demand of 16.10 Lakhs for the FY 2020-21.

Note 31: The title deeds of all immovable properties are held in the name of the Company. Accordingly, there are no Immovable Properties which were not held in name of the Company As on 31st March. 2024. except as disclosed in Audited Financial

Note 32: Micro. Small and Medium Enterprises Development Act. 2006 :•

The Company is in the process of compiling information from its suppliers regarding their status under the above act and hence disclosure, if any, of the amount unpaid as at the year-end together with the interest paid/payable as required has been given to the extent information available

Note 33 Related Party Disclosure (AS >18) •

Related Parties has been identified by the management and all trasnaction are on arm length Basis and reported in Annexure A Note 34 Realization-:

In some cases debit or credit balances of parties in respect of Sundry debtors, sundry creditors are subject to confirmation. In the opinion of the Board, the current Assets. Loans and Advances are of the Value stated if realized in ordinary course of

business. The provision for all known Liabilities as adequate and not in excess of the amount reasonably required.

Note 35 Since the Company is not availing the working capital limit of More than 500.00 Lakhs, therefore additional disclosure with regard to stock and book debt statement/Quaretrly Returns submitted to working capital lender and their comparison with books of accounts is not applicable to the Company.

Note 36 During the year, there is no transactions with Struck off Companies.

Note 37 There is no capital work in progress as on the end of year, therfore no disclosure as required by schedule III is given.

Note 38 During the year ended on 31.03.2024, there is no proceeding initated or pending against the company for holding any Benami Property as per the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, therfore no disclosure as required by schedule III is given.

Note 39 During the year or as on the end of year 31.03.2024, Borrower has not been declared as willful defaulter.

Note 40 Various Financial Ratio, alongwith details of Numerator and denominator etc, and the reason for deviation more than 25% as compared to previous year has been disclosed in Annexure B attached.

Note 41 As on the 31st March 2024, there is no charge pending for creation or satisfaction at MCA portal

Note 42 The Company has not received any funds 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;

i. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate beneficiaries), or

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

Note 43 The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or disclosed as income during the period 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

Note 44: Foreign Exchange earnings, expenditures and Hedge and unhedge status of Balance receivable and payable is as

Note 45: Details of C''SR

CSR Provisions of Companies Act 2013 is not applicable to the Company during the year.

Note 46: Director Personal Expenses

There are no direct personal expenses debited to the profit and loss account. However, personal expenditure if included in expenses like telephone, vehicle expenses etc. are not identifiable or separable.

Note 47: No dividend were declared and paid by the company during the year and previous year.

Note 48. The Company has not utilised the borrowings received from banks and financial institutions for the purpose other than for which it was taken during the period of restatement.

Note 49 Figures have been rounded off to the multiple of Lakhs. Previous year''s figures have been regrouped, recast and rearranged wherever necessary to make them comparable with the current year figures.

For R K Jagetiya & Co. FOR AMKAY PRODUCTS LIMITED.

Chartered Accountants FRN - 146264W

Kashyap P. Mody Hemanshu Batavia

DIN No : 01717036 DIN No : 05118012

Managing Director Whole Time Director & CFO

CA Ravi K Jagetiya M. NO. 134691

Place: Mumbai Krishna Rathi

Date: 29th May, 2024 Company Secretary

Place: Mumbai PAN: CDXPR9096R

UDIN: 24134691BKADDR4363_