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Notes to Accounts of Bedmutha Industries Ltd.

Mar 31, 2023

Rights, preference and restrictions attached to equity shares:

The Company has only one class of equity shares having a par value of '' 10.00 per share. Each shareholder is entitled for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend. In the event of liquidation of the Company, the equity shareholders are entitled to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

² Nature of Security

Term loans & Funded Interest Term Loan amounting to '' 8009.20 lakhs (March 31,2022 : '' 11713.80 lakhs ) {inclusive of '' 2704.00 lakhs (March 31, 2022 : '' 3687.00 lakhs) grouped under Note No. 25 are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plot No. E 1, Nardana Industrial Estate, Dhule and personal guarantee of promoter directors & are secured by pari-passu on entire block of assets of the company situated at Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nashik, Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103.

Vehicle Loans amounting to '' 0.00 lakhs ( March 31, 2022 : '' 0.00 lakhs ) {inclusive of '' 0.00 lakhs (March 31, 2022 : '' 0.00 lakhs) grouped under Note No. 25 {Current Maturities for Long Term Debts} are secured by the way of hypothecation of Vehicle purchased thereunder.

³ Terms of Repayment

Term Loan amounting to '' 2013.63 Lakhs (March 31,2022 : '' 2923.55 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Funded Interest Term Loan amounting to '' 0.00 Lakhs (March 31,2022 : '' 0.00 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Term Loan amounting to '' 1908.04 Lakhs (March 31,2022 : '' 2823.21 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Funded Interest Term Loan amounting to '' 178.09 Lakhs (March 31, 2022 : '' 264.80 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Term Loan amounting to '' 1421.14 Lakhs (March 31,2022 : '' 2080.03 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Funded Interest Term Loan amounting to '' 134.60 Lakhs (March 31, 2022 : '' 195.63 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Term Loan amounting to '' 1456.48 Lakhs (March 31,2022 : '' 2118.36 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Funded Interest Term Loan amounting to '' 138.03 Lakhs (March 31, 2022 : '' 199.02 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Term Loan amounting to '' 703.00 Lakhs (March 31,2022 : '' 1023.00 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Funded Interest Term Loan amounting to '' 56.19 Lakhs (March 31,2022 : '' 86.19 Lakhs) is repayable in 37 Structured Quarterly Installments. Last Installment due in Mar, 2028.

Vehicle Loan amounting to '' 0.00 Lakhs (March 31, 2022 : '' 0.00 Lakhs) is repayable in 60 Structured Quarterly Installments. Last Installment due in Nov, 2021.

Installments falling due in respect of all the above Loans up to March 31, 2024 has been grouped under âCurrent maturities of long term debt (refer Note 25).

*The Company has Issued 23,01,500 1% Non Convertible Cumulative Redeemable Preferance Shares at Issue Price of '' 1000 ('' 10 Face Value & '' 990 Premium) to Consortium Members Banks as Part of Restructuring of loan facilities carried out in accordance with RBI Guidelines.â1% Non Convertible Cummulative Redeemable Preference Shares amounting to '' 23015 lakhs (March 31,2022: '' 23015 Lakhs) is repayable in 5 Yearly Installments.Last Installment due in March, 2033.

*Working Capital loans amounting to '' 6531.22 lakhs (March 31, 2022 '' 6500.44 lakhs ) are secured by way of hypothecation of Current Assets and extention of second pari passu charge on the movable and non-movable Property, Plant & Equipment excluding windmill and vehicles.

*In accordance with the provisions of Master Restructuring Agreement cum Common Loan agreement executed between Borrower and Lenders, dated 16th January 2021, as amended from time to time and pursuant to deliberations between the parties, if any, lenders shall be entitled to receive recompense for the reliefs and sacrifices extended by them within the restructuring parameters to ensure bankerâs right of recovering its sacrifice upon improvement of Companyâs performance than projected. Accordingly, upto FY-22-23 Companyâs Right to Recompense (ROR) is not triggered. b. Claims Outstanding with Banks

Following claims were made by the company which are still outstanding as on the last day of the balance sheet and no confirmation from bank is there on record.

Fair Value Techniques :

The fair value of the financial assets and liabilities are included at the amount that would be received to sell an asset

or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values:

i. Fair value of cash and short term deposits, trade receivables, trade payables, current loans, other current financial assets, short term borrowings and other current financial liabilities approximate to their carrying amount largely due to the short term maturities of these instruments. The Financial Assets & Liabilities for which time period is not defined / not available were carried at cost.

ii. The fair value of Investment in quoted Mutual Funds is measured at NAV.

iii. Sales Tax Loans are discounted at 10% p.a. to arrive at fair value as on transaction date.

iv. All foreign currency loan and liabilities are translated using exchange rate at reporting date.

v. 1% Non Convertible Cumulative Redeemable Preferance shares are discounted at 11.50% to arrive at fair Value

49. Financial Risk Management Framework:-

In the course of its business, the Company is exposed to certain financial risks namely credit risk, interest risk, currency risk, commodity risk & liquidity risk. The Companyâs primary focus is to achieve better predictability of financial markets and seek to minimize potential adverse effects on its financial performance. The financial risks are managed in accordance with the Companyâs risk management policy which has been approved by its Board of Directors.

i. Market Risk Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates etc. could affect the Companyâs income or the value of its holdings of financial instruments including cash flow. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while maximizing the return. Market risk comprises three types of risk: interest rate risk, foreign currency risk and price risk, such as commodity risk. The Companyâs exposure to market risk is primarily on account foreign currency risk. Financial instruments affected by market risk include loans and borrowings, FVTPL investments.

ii. Interest Rate Risk :- Ilnterest 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 at present does not have any floating interest rate borrowings and other Long term borrowings of the company are at fixed interest rate. Thus the company does not have any interest rate risk at present.

iii. Currency Risk :- The Companyâs functional currency is Indian Rupees (INR). The Company undertakes transactions denominated in foreign currencies; consequently, exposure to exchange rate fluctuations arise. Volatility in exchange rates affects the Companyâs revenue from export markets and the costs of imports, primarily in relation to raw materials. The Company is exposed to exchange rate risk under its trade and debt portfolio. Adverse movements in the exchange rate between the Rupee and any relevant foreign currency resultâs in increase in the Companyâs overall debt position in Rupee terms without the Company having incurred additional debt and favorable movements in the exchange rates will conversely result in reduction in the Companyâs receivables in foreign currency. The Companyâs currency exposures in respect of monetary items at March 31,2023 & March 31,2022 that result in net currency gains and losses in the income statement arise principally from movement in US Dollar and Euro exchange rates. Currently, this currency risk exposure is not hedged with forward cover and the company management is of the opinion that the currency risk is not material and also the currency risk is naturally hedged with companyâs export trade receivables.

The Companyâs exposure to foreign currency risk as at the end of the reporting period are being given in Note No 43.

iv. Commodity price risk :- The Company has a strong framework and governance mechanism in place for meeting market volatility in terms of price and availability. Mechanism like proactive planning, strategic decision making and proper contracting is in place to mitigate price volatility risks in various commodities. Backward integration strategy, rate negotiation with vendors, alternative sourcing, indigenization of critical components, and value-engineering driven initiatives also help the Company to mitigate this risk to a great extent.

v. Liquidity Risk :- Liquidity Risk is defined as the risk that the company will not be able to settle or meet its obligations on time or at reasonable price. The Company is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. The Company monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate by management to finance the Companyâs present operations and to mitigate the effects of fluctuations in cash flows.

vi. Credit Risk Management :- CCredit Risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Companyâs exposure are continuously monitored.

vii. Trade Receivables :- The Company extends credit to customers in normal course of business. The Company considers factors such as credit track record in the market and past dealings for extension of credit to customers. The Company monitors the payment track record of the customers. Outstanding customer receivables are regularly monitored. The Company periodically assesses the financial reliability of the customers taking into account the financial condition and ageing of accounts receivable. The Company also take advances or Letter of Credit from some of its customers. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets. The Company applies the simplified approach to providing for expected credit losses prescribed by IND AS 109, which permits the use of the lifetime expected loss provision for trade receivables which are not recoverable.

viii. Cash and cash equivalents As at the year end, the Company held cash and cash equivalents of '' 1,689.55 Lakhs (31.03.2022 : '' 1,008.66 lakhs). The Cash and Cash Equivalents are held with Bank and financial institutions counterparties with good credit rating.

ix. Other Bank Balances :- Other Bank balances are held with bank and financial institution counterparties with good rating.

52. During Q1 FY 22 23 the Company has closed one of it units i.e Plant 2 situated at Plot no. A-70/71/72, STICE, Gut no. 931/1, Musalgaon, Tal Sinnar, Dist Nashik 422 103 with effect from June 24, 2022 as a strategic decision and in continuation of the Board of Directors decision duly intimated to all statutory bodies. On account of closure '' 2.97 Cr has been paid in Q1 FY 2022-2023 to Permanant Workmen of plant-2 under various heads on account of their final settlement dues like Salary,Compensation,Gratuity,Bonus and leave encashment which are being included in financials under heads like Wages & Others Cost Included in Other Expenses and Employee Benefit Expenses and hence cost of above mentioned heads is not comparable to that extent with cost of same heads as mentioned of Year ended FY 2021-2022.The settlement of permanant workman force on account of closure of Plant 2 has been done gracefully without any legal complexity.

54. Rounding Off

The figures appearing in financial statements have been rounded off to the nearest Lakhs, as required by General

Instructions for preparation of Financial Statements in Division II Schedule III to the Companies Act, 2013.

55. OTHER STATUTORY INFORMATION-

i) The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment and capital work-in progress are held in the name of the Company as at the balance sheet date.

ii) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.

iii) No procedings have been initiated or pending against Company for holding any Benami Property under Prohibitions of Benami Transactions Act,1988 (Earliers titled as Benami transactions (Prohibitions) Act,1988.

iv) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

v) The Company does not have material transactions with the struck off companies during the current & previous years.

vi) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

vii) The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

viii) The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

ix) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year 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.

x) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xi) The Company have not received any fund 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xii) The Company do not have any subsidiary as at the balance sheet date, accordingly compliance with section 2(89) of the Companies Act read with Companies (Restriction on number of layers) Rules, 2017 does not arise.

xiii) The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for which such loans were taken.

xiv) The quarterly returns/statement of current assets filed by Company with Banks for Borrowings are in agreement with the books of accounts.

56. As permitted by paragraph 4 of Ind AS 108, âOperating Segmentsâ, notified under section 133 of the Companies Act, 2013, read together with the relevant rules issued thereunder, if a single financial report contains both consolidated financial statements and the Separate financial statements of the parents, segment information need to be presented only on the basis of the consolidated financial statements. Thus disclosures regarding Operating segment is not presented in Standalone Financial Statements.

57. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I.

Mar 31, 2018

1. Related Party Transactions (As required by Accounting Standard 18 â Related Party Disclosureâ):-I) List of Related Parties and Relationship (As identified by the Management):-

(a) Key Managerial Personnel :- K. R. Bedmutha, Chairman

Vijay K. Vedmutha, M. D.

Ajay K. Vedmutha, J. M. D. / C.F.O.

Vinita A.Vedmutha, Wholetime Director / Senior

C.E.O.

(b) Relatives of Key Management Personnel :- Usha V. Vedmutha

Divya A. Vedmutha Yash V. Vedmutha Kamalabai K. Bedmutha

(c) Enterprises over which Key Managerial :- Bedmutha Sons Reality Ventures Pvt. Ltd. Personnel and their relatives exercise Bedmutha Agro Farm_S

significant influence with whom transactions K_amal Wi_re Prod_ucts

^{have been taken place during the year} k.R. Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co.

Usha''s Chemicals Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associate Company :- Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company :- Kamalasha Infrastructure & Engineering Private

Limited (54.75%)

2. Previous Yearâs figures have been re-grouped and re-arranged as and when necessary.

3. First Time Adoption of IND AS :-

The Company has adopted Ind AS with effect from 1st April 2017 with comparatives being restated. Accordingly the impact of transition has been provided in the Opening Reserves as at 1st April 2016. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

a) Exemptions from retrospective application:-

(i) Deemed Cost:

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value measured as per the previous GAAP for all of its items of property, plant and equipment, and use that as its deemed Costs at the date of transition. This exemption can also be used for intangible assets and Investment property. Accordingly, the Company has elected to measure all of its property, plant and equipment ,intangible assets and Investment Property at their previous GAAP carrying value as its deemed cost on the date of transition.

(ii) Long Term Foreign Currency Monetary Items:

A first-time adopter may continue the policy adopted for accounting for exchange differences arising from translation of long-term foreign currency monetary items recognized in the financial statements for the period ending immediately before the beginning of the first Ind AS financial reporting period as per the previous GAAP. The Company has opted for the above exemption for the long-term foreign currency monetary items recognized up to 31st March 2017.

(iii) Investments in subsidiaries, joint ventures and associates :

The Company has elected to measure investment in subsidiaries and associate at cost.

FIRST TIME IND AS ADOPTION RECONCILIATIONS :

Notes To First Time IND AS Adoption Reconciliations :

i. Investment Property :

Under Indian GAAP, investment property were presented as a part of non-current investment under IND AS, Investment property is separately presented on the face of the balance sheet.

ii. Government Grant :

Under Indian GAAP, incentives accrued under the Industrial Promotion Subsidy under the Package Scheme of Incentives was considered to be in the nature of Promoter''s Contribution and were recognized directly in the balance sheet as capital reserve under IND AS, these incentives qualify as revenue based grants and hence, has been recognized in the statement of profit and loss as other income. As at the date of transition, the capital reserves created out of incentive accounting as per Indian GAAP have been transferred to retained earnings.

iii. Investment in Mutual Funds :

In accordance with Ind AS 109 (Financial Instruments) investment in Mutual Funds have been classified at fair value through statement of Profit & Loss.

iv. Sales Tax Loans :

Under Indian GAAP, liability of sales tax loans were being shown at cost whereas under IND AS, it has been discounted and shown at fair value at amortized cost. Impact due to fair valuation of liability of sales tax loans as on date of transition has been given to retained earnings. Subsequent to transition the impact of fair value due to amortization at discounted rate is been shown as finance cost.

v. Previous year figures have been re-grouped / re-arranged, where necessary, to confirm to the current year classification.

A. Fair Value Techniques :

The fair value of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values:

i. Fair value of cash and short term deposits, trade receivables, trade payables, current loans, Investments, other current financial assets, short term borrowings and other current financial liabilities approximate to their carrying amount largely due to the short term maturities of these instruments. The Financial Assets & Liabilities for which time period is not defined / not available were carried at cost.

ii. The fair value of Investment in quoted Mutual Funds is measured at NAV.

iii. Sales Tax Loans are discounted at 10% p.a. to arrive at fair value as on transaction date.

iv. All foreign currency loan and liabilities are translated using exchange rate at reporting date.

4. Financial Risk Management Framework: -

Market Risk :- Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates etc. could affect the Companyâs income or the value of its holdings of financial instruments including cash flow. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while maximizing the return. Market risk comprises three types of risk: interest rate risk, foreign currency risk and price risk, such as commodity risk. The Companyâs exposure to market risk is primarily on account foreign currency risk. Financial instruments affected by market risk include loans and borrowings, FVTPL investments.

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 have some floating interest rate borrowings in the form of Buyers credit but it will not have any material impact on account of changes in market interest rates and other Long term borrowings of the company are at fixed interest rate. Thus the company does not have any interest rate risk at present.

Currency Risk:- The Companyâs functional currency is Indian Rupees (INR). The Company undertakes transactions denominated in foreign currencies; consequently, exposure to exchange rate fluctuations arise. Volatility in exchange rates affects the Companyâs revenue from export markets and the costs of imports, primarily in relation to raw materials. The Company is exposed to exchange rate risk under its trade and debt portfolio. Adverse movements in the exchange rate between the Rupee and any relevant foreign currency resultâs in increase in the Companyâs overall debt position in Rupee terms without the Company having incurred additional debt and favorable movements in the exchange rates will conversely result in reduction in the Companyâs receivables in foreign currency. The Companyâs currency exposures in respect of monetary items at March 31, 2018, March 31, 2017 that result in net currency gains and losses in the income statement arise principally from movement in US Dollar and Euro exchange rates. Currently, this currency risk exposure is not hedged with forward cover and the company management is of the opinion that the currency risk is not material and also the currency risk is naturally hedged with companyâs export trade receivables.

The Companyâs exposure to foreign currency risk as at the end of the reporting period are being given in Note No 44 .

Commodity price risk:

The Company has a strong framework and governance mechanism in place for meeting market volatility in terms of price and availability. Mechanism like proactive planning, strategic decision making and proper contracting is in place to mitigate price volatility risks in various commodities. Backward integration strategy, rate negotiation with vendors, alternative sourcing, indigenization of critical components, and value-engineering driven initiatives also help the Company to mitigate this risk to a great extent.

Liquidity Risk:-

Liquidity Risk is defined as the risk that the company will not be able to settle or meet its obligations on time or at reasonable price. The Company is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. The Company monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate by management to finance the Companyâs present operations and to mitigate the effects of fluctuations in cash flows. However, the liquidity crisis has led to defaults in repayments and interest payment to lenders.

Credit Risk Management:-

Credit Risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Companyâs exposure are continuously monitored.

Trade Receivables:-

The Company extends credit to customers in normal course of business. The Company considers factors such as credit track record in the market and past dealings for extension of credit to customers. The Company monitors the payment track record of the customers. Outstanding customer receivables are regularly monitored. The Company periodically assesses the financial reliability of the customers taking into account the financial condition and ageing of accounts receivable. The Company also take advances or Letter of Credit from some of its customers. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets. The Company applies the simplified approach to providing for expected credit losses prescribed by Ind AS 109, which permits the use of the lifetime expected loss provision for trade receivables which are not recoverable.

Cash and cash equivalents:

As at the year end, the Company held cash and cash equivalents of ''3397.49 Lakhs (March 31, 2017: '' 2338.53 lakhs and April 1,2016 '' 1741.03 Lakhs). The Cash and Cash Equivalents are held with Bank and financial institutions counterparties with good credit rating.

Other Bank Balances:

Other Bank balances are held with bank and financial institution counterparties with good rating.

5. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure - I.

Mar 31, 2016

¹ Nature of security

Term loans amounting to Rs, Nil (March 31, 2015 : Rs, 22.32 lacs) {inclusive of Rs, Nil (March 31, 2015 : Rs, 22.32 lacs) grouped under Note No. 9 ; Current Maturities for Long Term Debts} are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Promoter Directors and others.

Term loans & Funded Interest Term Loan amounting to Rs, 1,96,74.98 lacs (March 31, 2015 : Rs, 1,51,55.61 lacs) {inclusive of Rs, 712.32 lacs (March 31, 2015 : Nil lacs) grouped under Note No. 9 are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plot No. E 1, Nardana Industrial Estate, Dhule, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nashik and personal guarantee of promoter directors & are secured by second pari-passu on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103

Working Capital Term Loan amounting to Rs, 2803.13 lacs (March 31, 2015 : Rs, 2731.20 lacs){inclusive of Rs, 115.66 lacs (March 31, 2015 : Nil lacs) grouped under Note No. 9 are secured by second pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, Plot No. E 1, Nardana Industrial Estate, Dhule, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nashik and personal guarantee of promoter directors

Vehicle Loans amounting to Rs, 56.44 lacs ( March 31, 2015 : Rs, 38.59 lacs ) {inclusive of Rs, 21.55 lacs (March 31, 2015 : Rs, 15.19 lacs) grouped under Note No. 9 ; Current Maturities for Long Term Debts} are secured by the way of hypothecation of Vehicle purchased there under.

² Terms of Repayment

Term loan amounting to Rs, Nil lacs (March 31, 2015 : Rs, 22.29lacs) is repayable in 60 monthly installments. Last installment due in June 2015.

Term loan amounting to Rs, 4663.12 lacs (March 31, 2015 : Rs, 4678.00 lacs) is repayable in 30 Structured Quarterly Installments. Last installment due in March 2024.

(a) The company has made an investment of Rs, 378.21 lacs (Previous Year Rs, 378.21 lacs) in the shares of Ashoka Pre-con Private Limited, the company has 49% share holding. Further the company has given Loans & Advances, Trade receivables, net of Trade Payable amounting to Rs, 7.93 lacs (Previous Rs, 3.33 lacs) recoverable from APPL. There is considerable erosion in the net worth of APPL due to operational losses. No provision is provided by the management at present as the losses are expected to be recoverable in the future.

3. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

4. Employees Benefit :-

Company has paid premium of Rs, 9.76/- lacs towards group gratuity policy for the period 01-01-2016 to 31-12-2016 as on 02-04-2016 out of which Rs, 2.27/- lacs were provided for in FY 2015-16.

5. disclosure in respect of derivative instruments (Amount in Lacs)

(a) Derivative Instruments that are outstanding: Nil

(b) Foreign currency exposure that are not hedged by derivative instruments

6. Related party Transactions (As required by Accounting standard 18 " Related party disclosureâ)

I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial personnel :- K R Bedmutha, Chairman

Vijay K. Vedmutha, M. D.

Ajay K. Vedmutha, J. M. D. & C.F.O

Vinita A.Vedmutha, Wholetime Director & Senior

C.E.O

(b) Relatives of Key Management personnel :- Usha V. Vedmutha

Divya A. Vedmutha Yash V Vedmutha

(c) Enterprises over which Key Managerial :- Bedmutha Sons Reality Ventures Pvt. Ltd. personnel and their relatives exercise B_ed_muth_a Agro F_arms

significant influence with whom transactions K_amal Wire P_rod_ucts

^{have been taken} p^{lace durin}g ^the y^ear K.R. Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co.

Usha''s Chemicals Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associate :- Ashoka Pre-con Private Limited (49%)

(e) subsidiary Company :- Kamalasha Infrastructure & Engineering Private

Limited (54.75%)

7. Disclosure as per Regulation 32 of SEBI (LODR) Regulations, 2015 for the year ended on March 31, 2016 :-The utilization of issue proceeds from IPO (Rs, 9184.30 lacs) is as follows:-

As on March 31, 2015, the company has fully deployed the IPO funds for the Expansion Projects under implementation

8. Increase in cost in the following expenses compared to the previous year viz.:-

Employee Benefit Expenses;

Depreciation Amortization expenses;

Other Expenses, and Finance Cost

Is due to above mentioned costs which earlier were debited under the capital expenditure now debited as revenue expenditure as the respective project assets have been put to use during the year. The said treatment is given as per Accounting Standard AS 10. Hence the above costs are not comparable with the previous year.

9. the Company has Five segments mainly:

i. Wire & Wire Products

ii Copper Products

iii Wind Power Generation

iv Consultancy **

v Works Contract Division

* *As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

(During the period, No significant revenue was generated in Consultancy, Windmill & Works Contract division. Hence as per AS 17 segment reporting for said activities which are not material are reported in other activity and for copper product separate segment reporting is done.)

Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segments as also amounts allocated on a reasonable basis.

10. Previous Year''s figures have been re-grouped and re-arranged as and when necessary.

11. Restructuring of Term Loan & Working Capital Loan Bedmutha Industries Limited is hereinafter referred to as the âCompanyâ , who has availed various Financial Facilities from the secured lenders.

At the request of the Company , the Restructuring Proposal (âProposalâ) of the Company was referred to Restructuring Cell by the consortium of lenders led by the Punjab national Bank . The Restructuring Proposal as recommended by Punjab National Bank, the lead lender and approved by the Restructuring Committee, and communicated vide Provisional Letter of Approval dated 31.03.2016. as amended / modified from time to time . The cutoff date for Restructuring Proposal was 01.01.2015.

The Agreement between the Company and the Lenders has been executed, by virtue of which the restructured facilities are governed by the provisions specified in the Agreement having cutoff date of 01.01.2015 .

For All the Loans restructured under the above Restructuring Scheme , creation of security is pending at registering authority .

The Key features of the Restructuring Proposal are as follows;

12 Restructuring of existing fund based and non fund based financial facilities, subject to renewal and reassessment every year.

13 Repayment of Restructured Term Loans ( ''RTL'') after moratorium of 2 Year from Cutoff date in 30 structured quarterly installments commencing from 31.12.2016 to 31.03.2024.

14 Conversion of various irregular / outstanding financial facilities into Working Capital Term Loan (''WCTL'') Repayment of WCTL after moratorium of 2 years from cut of date in 30 structured quarterly installment commencing from Quarter ending 31.12.2016 to 31.03.2024.

15 The interest payable on RTL and WCTL during moratorium period of 2 years also be converted to Funded Interest Term Loan (FITL), to be paid in 18 structured quarterly installments commencing form Quarter ending 31.12.2016 to 31.03.2020.

16 The rate of Interest of RTL, CC, WCTL,FITL shall be BR 1.25% TP i.e. 12%, BR 1.75% i.e. 12% , BR & BR i.e. 10.25% respectively.

17 Rs, 647.50 lacs contribution of the company to be brought in by promoters in lieu of bank sacrifice.

18. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I

Mar 31, 2015

1. Contingent liabilities not provided for in respect of

(Rs. in Lacs) (a)

Particular for the period ended

31st March 31st March 2015 2014

Counter Guarantees given against Bank 1,258.02 109.70 Guarantees.

Assistant Commissioner of Sales Tax (BST), 0.46 0.46 Sales Tax Office, Nashik. (Financial Year 1999-2000)

Custom Excise & Service Tax Appellate 88.76 88.76 Tribunal, Bombay (A.Y.2004-2005)

The Commissioner of Income Tax (Appeals) 14.26 14.26 - 1 Nashik (A.Y. 2011-2012)

Income tax Appellate Tribunal - Pune Decision in 6.23 (A.Y. 2009-2010) Favour of Company

The Commissioner of Income Tax (Appeals) 4.12 NA - 1 Nashik (A.Y. 2012-13)

Ministry of Corporate Affairs, FY 2010-11 Amount not NA & FY 2011-12 ascertained

2. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

3. Employees Benefit

During the period company paid premium of Rs. 10.90 lacs towards group gratuity for the period 2014-15. (Rs. 08.65 lacs in previous year 2013-14)

4. Related Party Transactions (As required by Accounting Standard 18 "Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel

K R Bedmutha, Chairman

Vijay K. Vedmutha, M. D.

Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management

Usha V. Vedmutha

Vinita A.Vedmutha

Divya A. Vedmutha

Yash V Vedmutha

(c) Enterprises over which Key Management Personnel and their relatives exercise significant influence with whom transactions have been taken place during the year

Bedmutha Sons Reality Ventures Pvt. Ltd.

Bedmutha Agro Farms

Kamal Wire Products

K.R. Bedmutha Techno Associates Pvt. Ltd. Elme Plast Co.

Usha's Chemicals Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates

Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company

Kamalasha Infrastructure & Engineering Private Limited (54.75%)

5. The Company is organized into three segments mainly:

i. Wire & Wire Products

ii. Copper Products

iii. Wind Power Generation

iv. Consultancy **

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

(During the period, No significant revenue was generated in Consultancy division, Copper Division or Wind Power Generation and hence Segment Reporting is not reported.)

6. Previous Year's figures have been re-grouped and re-arranged as and when necessary.

7. Excess depreciation claimed in previous years have been rectified & reversed in FY 2013-14 as prior period income.

8. Restructuring of Term Loan & Working Capital Loan

Bedmutha Industries Limited is hereinafter refferred to as the 'Borrower' , who has availed various Financial Facilities from the secured lenders.

At the request of the Borrower , the Restricting Proposal ('Proposal ') of the Borrower was referred to Restricting Cell by the consortium of lenders led by the Punjab national Bank . The Restructuring Proposal as recommended by Punjab National Bank, the lead lender and approved by the Restructuring Committee, and communicated vide Provisional Letter of Approval dated 31.03.2015. as amended / modified from time to time . The cut off date for Restructuring Proposal was 01.01.2015.

The Agreement between the Borrower and the Lenders has been executed, by virtue of which the restructed facilities are governed by the provisions specified in the Agreement having cut off date of 01.01.2015

For All the Loans restructed under the above Restructuring Scheme , creation of security is pending at registering authority .

The Restructuring proposal is partly implemented as at 31st March 2015.

The Key features of the Restructuring Proposal are as follows;

1 Restricting of existing fund based and non fund based financial facilities, subject to renewal and reassessment every year

2 Repayment of Restructed Term Loans ( 'RTL') after moratorium of 2 Year from Cut off date in 30 structured quarterly instalments commencing from 31.12.2016 to 31.03.2024

3 Conversion of verious irregular / outstanding financial facilities into Working Capital Term Loan ('WCTL') Repayment of WCTL after moratorium of 2 years from cut of date in 30 structured quarterly instalment commencing from Quarter ending 31.12.2016 to 31.03.2024..

4 The interest payable on RTL and WCTL during moratorium period of 2 years also be converted to Funded Interest Term Loan (FITL), to be paid in 18 structured quarterly instalments commencing form Quarter ending 31.12.2016 to 31.03.2020.

5 The rate of Interest of RTL, CC, WCTL,FITL shall be BR 1.25% TP i.e. 12%, BR 1.75% i.e. 12% , BR & BR i.e. 10.25% respectively

6 Rs. 647.50 lacs contribution of the company to be brought in by promoters in lieu of bank sacrifice.

Mar 31, 2014

1. Non-current Liabilities

Term loans amounting to Rs. 185.62 lacs (March 31, 2013 : Rs. 452.57 lacs) {inclusive of Rs. 157.31 lacs (March 31, 2013 : Rs. 259.22 lacs) grouped under Note No. 8 ; Current Maturities for Long Term Debts} are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Promoter Directors and others.

Term loans amounting to Rs. 12358.76 lacs (March 31, 2013 : Rs. 5764.95 lacs ) {inclusive of Rs. 1249.00 lacs (March 31, 2013 :Nil ) grouped under Note No. 8 are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nahsik, Plot No. E 1, Nardana Industrial Estate, Dhule, and personal guarantee of promoter directors Vehicle Loans amounting to Rs. 52.39 lacs ( March 31, 2013 : Rs. 28.57 lacs ) {inclusive of Rs. 8.59 lacs (March 31, 2013 : Rs. 5.56 lacs) grouped under Note No. 8 ; Current Maturities for Long Term Debts} are secured by the way of hypothecation of Vehicle purchased thereunder.

2. Terms of Repayment

Term loan amounting to Rs. 8.30 lacs (March 31, 2013 : Rs. 80.30 lacs) is repayable in 28 quarterly instalments. Last instalment due in May 2014

Term loan amounting to Rs. 47.01 lacs (March 31, 2013 : Rs. 84.41 lacs) is repayable in 60 monthly instalments. Last instalment due in June 2015

Term loan amounting to Rs. 82.35 lacs (March 31, 2013 : Rs. 155.56 lacs) is repayable in 60 monthly instalments. Last instalment due in June 2015

Term loan amounting to Rs. 47.97 lacs (March 31, 2013 : Rs. 92.35 lacs) is repayable in 60 monthly instalments. Last instalment due in May 2015

Term loan amounting to Rs. 1170.02 lacs (March 31, 2013 : Rs. 1073.29 lacs) is repayable in 22 Structured Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 2652.16 lacs (March 31, 2013 : Rs. 1469.16 lacs ) is repayable in 22 Quarterly Instalments. Last instalment due in March 2020,

Term loan amounting to Rs. 4578.00 lacs (March 31, 2013 :Rs. 2225.00 lacs)is repayable in 22 Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 2550.50 lacs (March 31, 2013 : Rs. 947.50 lacs) is repayable in 22 Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 1408.09 lacs (March 31, 2013 : Rs. 50.00 lacs) is repayable in 22 Quarterly Instalments. Last instalment due in December 2019

Vehicle loan amounting to Rs. 9.17 lacs (March 31, 2013 : Rs. 11.71 lacs) is repayable in 59 monthly instalments. Last instalment due in February 2017

Vehicle loan amounting to Rs. 2.31 lacs (March 31, 2013 : Rs. 3.28 lacs) is repayable in 45 monthly instalments. Last instalment due in December 2014

Vehicle loan amounting to Rs. 1.42 lacs (March 31, 2013 : Rs. 3.35 lacs) is repayable in 45 monthly instalments. Last instalment due in November 2014

Vehicle loan amounting to Rs. 5.88 lacs (March 31, 2013 : Rs. 3.35 lacs) is repayable in 84 monthly instalments. Last instalment due in February 2020

Vehicle loan amounting to Rs. 2.25lacs (March 31, 2013 : Rs. 3.29 lacs) is repayable in 45 monthly instalments. Last instalment due in October 2014

Vehicle loan amounting to Rs. 12.12 lacs (March 31, 2013 : Rs. Nil) is repayable in 48 monthly instalments. Last instalment due in September 2017

Vehicle loan amounting to Rs. 17.27 lacs (March 31, 2013 : Rs. Nil) is repayable in 48 monthly instalments. Last instalment due in March 2017

3. Contingent liabilities not provided for in respect of

(Rs. in Lacs) (a)

Particular for the period ended

31st March , 2014 31st March , 2013

Counter Guarantees given against Bank Guarantees. 109.70 242.08

Assistant Commissioner of Sales Tax (BST), Sales Tax Office, 0.46 0.46 Nashik. (Financial Year 1999- 2000)

Custom Excise & Service Tax Appellate Tribunal, Bombay 88.76 88.76 (A.Y.2004-2005)

The Commissioner of Income Tax (Appeals) - 1 Nashik (A.Y. 2011 14.26 NA -2012)

Income tax Appellate Tribunal- Pune (A.Y. 2009-2010) 6.23 -

(b) Claims Outstanding with Banks

Following claims were made by the company which are still outstanding as on the last day of the balance sheet and no confirmation from bank is there on record

Name of Bank Excess Interest / Charges debited by bank

31/03/2014 31/03/2013

a Bank Of India Pune 2.13 4.25

b Bank Of India Mulund - 1.15

c Andhra Bank Nashik - 0.37

d Andhra Bank Mulund - 0.48

e Andhra Bank Pune - 24.09

f Punjab National Bank Pune - 49.63

g Punjab National Bank Nashik 3.06 2.28

Total 5.19 82.25

(c) In Current Year, considering the nature of Letter of Credit & Buyers Credit, Letter of Credit & Buyers Credit outstanding have been regrouped under the head trade payable, similarly previous year figures have been regrouped

4. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

5. Employees Benefit

During the period company paid premium of Rs. 8.65/- lacs towards group gratuity for the period 2013-14. (Rs. 7.99/- lacs in previous year 2012-13)

6. Related Party Transactions (As required by Accounting Standard AS-18 " Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel :-

Mr. K R Bedmutha, Chairman Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management :-

Mrs. Usha V. Vedmutha Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key Management Personnel and their relatives exercise significant influence with whom transactions havebeen taken place during the year :-

Bedmutha Sons Reality Ventures Pvt. Ltd. Bedmutha Agro Farms Kamal Wire Products K.R. Bedmutha Techno Associates Pvt. Ltd. Elme Plast Co. Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates :-

Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company :-

Kamalasha Infrastructure & Engineering Private Limited (54.75%)

7. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii Consultancy **

(During the period 1st April 2013 to 31st March 2014, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

8. Inventory of land held for trading is transferred to investment in view of the change in its envisaged usage in FY 2012-13

9. Excess depreciation claimed in previous years have been rectified & reversed in current year as prior period income.

10. Previous Year''s figures have been re-grouped and re-arranged as and when necessary.

11. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I

Mar 31, 2013

1. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

2. Employees Benefit

During the period company paid premium of Rs. 7.99/ lacs towards group gratuity for the period 201213. (Rs. 6.64 lacs in previous year 201112)

3. Related Party Transactions (As required by Accounting Standard AS18 " Related Parties Disclosure")

I) List of Related Parties and Relationship (As identified by the Management)

(a) KeyManagerial Personnel : Mr. K R Bedmutha, Chairman

Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management : Mrs. Usha V. Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key Management Personnel : Bedmutha Sons Reality Ventures Pvt. Ltd. and their relatives exercise significant influence Bedmutha Agro Farms with whom transactions have been taken place Kamal Wire Products during the year K R Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co. Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates : Ashoka Precon Private Limited (49%)

(e) Subsidiary Company : Kamalasha Infrastructure & Engineering Private Limited (54.75%)

4. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1st April 2012 to 31st March 2013, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

5. Inventory of land held for trading is transferred to investment in view of the change in its envisaged usage.

6. The company has some of its bank accounts in the name of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 200708.

7. Previous Year''s figures have been regrouped and rearranged as and when necessary.

Mar 31, 2012

NOTE - 1

Nature of Security

Term loans amounting to Rs. 463.66 lacs (March 31, 2011 : Rs. 825.78 lacs are secured by first pari-passu/equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Promoter Directors and others.

Term loans amounting to Rs. 593.09 lacs (March 31, 2011 : Rs. Nil are secured by first pari-passu/equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nahsik, Plot No. E 1, Nardana Industrial Estate, Dhule, Second Paripassu charge over windmill and current assets and personal guarantee of promoter directors Vehicle Loans are secured by the way of hypothecation of Vehicle purchased thereunder.

Terms of Repayment

Term loan amounting to Rs. 80.30 lacs (March 31, 2011 : Rs. 152.30 lacs) is repayable in 28 quarterly instalments. Last instalment due in March 2014

Term loan amounting to Rs. 107.41 lacs (March 31, 2011 : Rs. 144.42 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 143.00 lacs (March 31, 2011 : Rs. 208.62 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 9.83 lacs (March 31, 2011 : Rs. 58.46 lacs) is repayable in 60 monthly instalments. Last instalment due in October 2012

Term loan amounting to Rs. 92.74 lacs (March 31, 2011 : Rs. 137.37 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 30.38 lacs (March 31, 2011 : Rs. 75.98 lacs) is repayable in 60 monthly instalments. Last instalment due in September 2013

Term loan amounting to Rs. 243.09 lacs (March 31, 2011 : Rs. Nil) is repayable in 24 Structured Quarterly Instalments. Last instalment due in July 2019

Term loan amounting to Rs. 350.00 lacs (March 31, 2011 : Rs. Nil) is repayable in 24 Quarterly Instalments. Last instalment due in March 2020

Vehicle loan amounting to Rs. 11.71 lacs (March 31, 2011 : Rs. Nil) is repayable in 59 monthly instalments. Last instalment due in February 2017

Vehicle loan amounting to Rs. 3.28 lacs (March 31, 2011 : Rs. 4.13 lacs) is repayable in 45 monthly instalments. Last instalment due in December 2014

Vehicle loan amounting to Rs. 3.36 lacs (March 31, 2011 : Rs. 4.27 lacs) is repayable in 45 monthly instalments. Last instalment due in November 2014

Vehicle loan amounting to Rs. 3.28 lacs (March 31, 2011 : Rs. 4.19 lacs) is repayable in 45 monthly instalments. Last instalment due in October 2014

2. Contingent liabilities not provided for in respect of

(a) For the year ended

Particular 31st March , 2012 31st March , 2011

Counter Guarantees given against Bank Guarantees. 237.53 202.29

Corporate Guarantee given on behalf of Subsidiary Company, 208.22 2,793.00

Kamalasha Infrastructure & Engineering Pvt. Ltd.

Corporate Guarantee given on behalf of Associate Company, 90.20 450.80

Ashoka Pre-con Private Ltd.

Income Tax Department- Tax Deducted at Sources, Nashik (A.Y.2008-09) - 0.70

Income Tax Department, Nashik (A.Y. 2004-05) - 27.33

Income Tax Department, Nashik (A.Y. 2004-05) No demand notice (Reassessment u/s 148 received from Income Tax

Income Tax Department, Nashik (A.Y. 2009-10) 6.23 -

Custom Excise & Service Tax Appellate Tribunal, Bombay 84.17 84.17

(A.Y.2004-2005)

3. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

4. Employees Benefit

During the period company paid premium of Rs. 6.64/- lacs towards group gratuity for the period 2011-12. (Rs. 4.50 lacs in previous year 2010-11)

5. Related Party Transactions (As required by Accounting Standard AS-18 "Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel : Mr. K R Bedmutha, Chairman Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management: Mrs. Usha V. Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which : Bedmutha Sons Reality Ventures Pvt. Key Management Personnel Ltd. and their relatives exercise significant influence with whom transactions have been taken place during the year

Bedmutha Agro Farms

Kamal Wire Products

K.R. Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co.

Kreepa Steel Industries

Bedmutha Chemicals Pvt. Ltd.

(d) Associates : Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company : Kamalasha Infrastructure & Engineering Private Limited (54.75%)

6. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1st April 2010 to 31st March 2011, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy/Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

7. The Company has some of its bank accounts in the name of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 2007-08.

8. The financial statement for the year ended 31st March 2011 had been prepared as per the then applicable, pre- revised Schedule VI to the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March 2012 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to confirm to this year's classificaiton

9. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I

Mar 31, 2011

1. Share Capital

i 2,211 Equity Shares of Rs. 100 each fully paid were allotted to Vijay Vedmutha against purchase of Plant and Machinery on 25* February 1993.

ii 75,000 Equity Shares of Rs. 10 each were issued as Bonus Shares in ratio of 3 : 1 on 27th March 1997.

iii Company has subdivided the Equity Shares of Rs. 100 each into Equity Shares of Rs.10 each on 1st September 1998

iv 16,43,768 Equity Shares of Rs 10 were allotted to Vijay Vedmutha against takeover of Kamal Wire Drawings (Proprietor Mr.Vijay Vedmutha) on 1st October 1998.

v 50,000 Equity Shares of Rs.10 each were allotted to Ajay Vedmutha for takeover of Testing Engineering and Associates (Proprietor Mr. Ajay Vedmutha) on 1st April 2000.

vi 33,49,488 Equity Shares of Rs. 10 each fully paid were issued as Bonus Shares in ratio of 1 :1 on 19th March 2008.

vii 22,96,862 Equity Shares of Rs. 10 each fully paid up issued on 5th December 2008, to Shareholders of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Products Private Limited pursuant to Scheme of amalgamation.

viii 30,06,850 Equity Shares of Rs. 10 each fully paid were issued as Bonus Shares in ratio of 1:3 on 31st October 2009.

2. Secured Loans

i Term loans are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Bedmutha Industries Limited Plant 1, A 32-35 & 57,STICE,Sinnar,Nashik422103, Bedmutha Industries Limited Plant 2, A 70-72, STICE,Sinnar, Nashik422 103,Bedmutha Industries Limited Plant 3, B113,STICE, Sinnar, Nashik 422103, Bedmutha Industries Limited Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Directors, Mr. Vijay Vedmutha, Mr. Ajay Vedmutha and Guarantor Mrs.Vinita Vedmutha and Mrs. Usha Vedmutha.

ii Working Capital loans are secured by way of hypothecation of Current Assets and extention of second pari passu charge on the movable and non-movable fixed assets excluding windmill and vehicles charged to other banks.

iii Vehicle Loans are secured by the way of hypothecation of Vehicle purchased thereunder.

3. Contingent liabilities not provided for in respect of

(Rs. in Lacs)

Particular For the year ended

31st March, 31st March,

2011 2010

Counter Guarantees given against Bank Guarantees. 202.29 25.18

Corporate Guarantee given on behalf of Subsidiary Company, Kamalasha Infrastructure & Engineering Pvt. Ltd. 2,793.00 2,793.00

Corporate Guarantee given on behalf of Associate Company, Ashoka Pre-con Private Ltd. 450.80 450.80

Income Tax Department-Tax Deducted at Sources, Nashik (A.Y. 2008-09) 0.70 -

Income Tax Department, Nashik (A.Y. 2004-05) 27.33 -

Custom Excise & Service Tax Appellate Tribunal, Bombay (A.Y.2004-2005) 84.17 84.17

7. Based on the information available with the company in respect of MSME (as defined in the Micro Small & Medium Enterprise Development Act, 2006) there are no delays in payment of dues to such enterprises during the year. The above information regarding Micro Small & Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors.

8. Employees Benefit

During the period company paid premium of Rs 4.50 lacs towards group gratuity for the period 2010-11 Rs. 4,50,452/-

9. Accounting Standards

The company has in general followed the accounting standards by the institute of the Chartered Accountants of India.

10. Related Party Transactions (As required by Accounting Standard AS-18" Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel - Mr. K R Bedmutha, Chairman

Mr. Vijay K. Vedmutha, M.D.

Mr.Ajay K. Vedmutha, J. M.D.

(b) Relatives of Key Management - Mrs. Usha Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key - Bedmutha Sons Reality Ventures Private Limited Management Personnel and their Bedmutha Agro Farms relatives exercise significant Kamal Wire Products influence with whom transactio ns have been taken K.R. Bedmutha Techno Associa tes Private Limited place during the year Elme Plast Co. Kreepa Steel Industries Usha Chemicals

(d) Associates - Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company - Kamalasha Infrastructures Engi neering Private Limited (54.75%)

15. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1 st April 2010 to 31st March 2011, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

16. The company has some of its bank accounts in the name of Shriram pWire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 2007-08.

17. Previous year's figures have been re-grouped and re-arranged as and when necessary.

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