Notes to Accounts of Goldstar Power Ltd.

Mar 31, 2025

s) Provisions Contingent liabilities and contingent assets:-

A provision is recognized if, as a result of a past event, the Company has a present
legal obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. Provisions are determined
by the best estimate of the outflow of economic benefits required to settle the
obligation at the reporting date. Where no reliable estimate can be made, a
disclosure is made as Contingent Liability.

A disclosure for a Contingent Liability is also 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 in respect of
which the likelihood of outflow of resources is remote, no provision or disclosure is
made.

Possible obligation that arises from the past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future
events beyond the control of the Company or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to
settle the obligation is reported as Contingent Liability. In the rare cases, when a
liability cannot be measures reliable, it is classified as Contingent Liability. The
Company does not recognize a Contingent Liability but disclosed its existence in the
standalone financial statements.

t) Event after Reporting Date:-

Where events occurring after the Balance Sheet date provide evidence of condition
that existed at the end of reporting period, the impact of such events is adjusted
within the standalone financial statements. Otherwise, events after the Balance Sheet
date of material size or nature are only disclosed.

All the events occurring after the Balance Sheet date up to the date of the approval of
the standalone financial statement of the Company by the board of directors on May
28th 2023, have been considered, disclosed and adjusted, wherever applicable, as
per the requirement of Accounting Standards.

u) Late Delivery Charges

The liability on account of late delivery charges, due to delay in delivery of finished
products for on accrual basis as per the terms of contract after adjusting for the claims
which are no longer.

v) Research and Development Expenses

Research and development cost of revenue are charged to revenue as and when
incurred, and of capital nature is capitalized and depreciation thereon is provided as
per the rates prescribed inn schedule II to the companies Act, 2013.

w) Warranty Claims and Provisions

The Company makes a provision for the probable future liability on account of
warranty as at the end of the financial year, in addition to meeting the actual warranty
claimed.

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Mar 31, 2024

^{24 a)} The Company''s land, building, (other than those which are specifically hypothecate) both present and future have been placed as security under a pari passu charge for the Mortgate Overdraft & Cash credit loans obtained by the Company from the Bank of Baroda . All the said loans have not been repaid in full.

b) The rupee Mortgaged Overdraft / CC loans from Bank of Baroda are secured by first charge on all fixed assets both present and future.

^c) The working capital facilities from Bank of Baroda are secured by hypothecation of stock of raw materials, work-in-process, finished goods, stores & spares, bills receivable and book debts. The fixed assets of the Company are provided as collateral security of some of the directors, for which no consideration has been passed to them.

d) The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a directly or indirectly lend to 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

_e) The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

a) directly or indirectly lend to 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.

q The previous year’s figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part

of the current annual financial

g) The Company has not revalued its Property, Plant and Equipment for the current year.

h) There is no Intangible assets & CWIP under development in the current year.

i) Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are subject to confirmation and therefore the effect of the same on profit could not

j) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

No proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made

k) thereunder.

l) The company has not been declared as willful defaulter by any bank or financial institution or government or government authority.

The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the

Intermediary shall:

m)

_n) The company does not have transaction with the struck off under section 248 of companies act, 2013 or section 560 of Companies act 1956.

The company is in compliance with the number of layers prescribed under clause (87) of section 2 of company''s act read with companies (restriction on number of layers) Rules, 2017.

o)

25 Contingent Liabilities 1 Contingent Liabilities					( Rs in lakhs)
	Particulars			3/31/2024	3/31/2023
	a.	Fixed Deposit to Bank of Baroda as Differential Colateral Security.		55.80	55.80
	b.	Term Loan obtains from SIDBI for Oxide Mill		-	11.11
	c.	Contingent Liabilities towerds Cases pending before Government Authorities		983.62	983.62
26	Capacity and Production
	Particulars		UOM	3/31/2024	3/31/2023
	Storage Batteries
	Inatalled Capacity		SU''s	6.00	6.00
	Average Installed Capacity		Nos.
	Actual Production		SU''s	0.80	0.84

Note: The Installed Capacity represents the capacity as at March 31, 2024 and Average Installed Capacity represent year weighted average capacity based on expansions carried out during the year. The capacities are as certified by the management.

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Mar 31, 2023

1 a) The Company''s land, building, (other than those which are specifically hypothecate) both present and future have been placed as security under a pari passu charge for the Mortgate Overdraft & Cash credit loans obtained by the Company from the Bank of Baroda . All the said loans have not been repaid in full.

b) The rupee Mortgaged Overdraft / CC loans from Bank of Baroda are secured by first charge on all fixed assets both present and future.

c) The working capital facilities from Bank of Baroda are secured by hypothecation of stock of raw materials, work-in-process, finished goods, stores & spares, bills receivable and book debts. The fixed assets of the Company are provided as collateral security of some of the directors, for which no consideration has been passed to them.

The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

d)

a. directly or indirectly lend to 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

The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company

^e) shall

a. directly or indirectly lend to 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.

The previous year''s figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current annual financial statements and are to be read in relation to the amounts and other disclosures relating to the current financial year.

The Company has not revalued its Property, Plant and Equipment for the current year.

o J

^ There is no Intangible assets & CWIP under development in the current year.

Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are subject to confirmation and therefore the effect of the same on profit could not be ascertained.

g)

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

No proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.

g)

^ The company has not been declared as willful defaulter by any bank or financial institution or government or government authority.

The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

The company does not have transaction with the struck off under section 248 of companies act, 2013 or section 560 of Companies act 1956.

The company is in compliance with the number of layers prescribed under clause (87) of section 2 of company''s act read with companies (restriction on number of layers) Rules, 2017. k)

25 Contingent Liabilities 1 Contingent Liabilities
	Particulars						3/31/2023		3/31/2022
	a.	Fixed Deposit to Bank of Baroda as Differential Colateral Security.					55.80		55.80
	b.	Term Loan obtains from SIDBI for Oxide Mill					11.11		27.78
	c.	Contingent Liabilities towerds Cases pending before Government Authorities					983.62 981.78
26	Capacity and Production
	Particulars					UOM	3/31/2023		44,651.00
	Storage Batteries
	Inatalled Capacity					SU''s	6.00		6.00
	Actual Production					SU''s	0.84		0.92
27	Note: The Installed Capacity represents the capacity as at March 31, 2023 and Average Installed Capacity represent year weighted average capacity based on expansions carried out during the year. The capacities are as certified by the management. Purchase of Trading Goods
	Particulars		Year ended 31.03.2023				Year ended 31.03.2022
			Qty		Amount		Qty		Amount
	BATTERY RELEVANT MACHINERY / EQUIPMENTS / CHEMICALS / ALL OTHER MATERIALS		KGS	43,338.850	244.39		KGS	131,560.000	126.45
			LTR	200.000	2.04		LTR	10.000	0.20
			MTR	-	-		MTR	240.000	0.34
			NOS	2,290,343.00	638.30		NOS	1,039,018.00	306.65
	Total				884.72				433.63

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Mar 31, 2018

1 a) The Company''s land, building, (other than those which are specifically hypothecate) both present and future have been placed as security under a pari passu charge for the Dropline & Cash credit loans obtained by the Company from the HDFC Bank Limited . All the said loans have not been repaid in full.

b) The rupee Drop Line loans from HDFC Bank Limited are secured by first charge on all fixed assets both present and future.

^c) The working capital facilities from HDFC Bank Limited are secured by hypothecation of stock of raw materials, work-in-process, finished goods, stores & spares, bills receivable and book debts. The fixed assets of the Company are provided as collateral security of some of the directors, for which no consideration has been passed to them.

Note: The Installed Capacity represents the capacity as at March 31, 2018 and Average Installed Capacity represent year weighted average capacity based on expansions carried out during the year. The capacities are as certified by the management.

2. Related Party Transactions

Related Parties particulars pursuant to "Accounting Standard -18”

A List of Related parties

Key Management Personnel

Muljibhai M Pansara

Amrutlal Mohanbhai Pansara

Navneet M Pansara

Dhruti N Pansara

Vishal M Pansara

Darshak Thaker

Relatives of Key management Personnel

Leelaben M. Pansara

Geetaben A. Pansara

Muljibhai M Pansara-HUF

Amrutlal Mohanbhai Pansara-HUF

Shivam A. Pansara

Manshi V. Pansara

Enterprises in which Key management personnel and/or their relatives have Significant influence

Blue Star Energy Pvt. Ltd.

Blue Star Wind Energy Pvt. Ltd.

3. Notes forming part of accounts in relation to Micro and small enterprise

1. Based on information available with the company, on the status of the suppliers being Micro or small enterprises, on which the auditors have relied, the disclosure requirements of Schedule VI to the Companies Act,1956 with regard to the payments made/due to Micro and small Enterprises are given below

4. The balances in various personal accounts are subject to confirmation by and reconciliation with the concerned parties

5. In the opinion of the Board of Directors the Current assets, loans and advances are expected to realise the value stated in the accounts, in the ordinary course of business.

6. The previous year''s figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral par of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

7. Figures have been rounded off to the nearest thousands and rupees whenever it is mentioned in rupees

8. Earning Per share.