Notes to Accounts of HPC Biosciences Ltd.

Mar 31, 2018

A- NOTES TO THE ACCOUNTS

1) The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

2) All the investments made by the company are valued at Cost.

3) Managerial Remuneration: 336,000.00

⁴⁾ The inventories of agriculture produce (Finished) are valued at 90% of their net realizable value and Agriculture Produce (semi finished) are valued at 75% of their net realizable value.

5) Deferred tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Deferred tax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

6) Depreciation on Fixed Assets (Except Land) is provided to the extent of depreciable amount on the Written Down Value (WDV) Method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013. The deprecation on organic virgin land structure has been provided on the basis of remaining period of the lease as at the end of year on the WDV amount and addition made thereto.

7) All schedules annexed to and from integral part of the Balance Sheet and Profit & Loss Account.

8) Minimum Alternative Tax (MAT) is recognised as an asset only when and to the extent there is convincing evidence that the company will pay normal income tax during the specified period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the effect that company will pay normal Income Tax during the specified period.

9) Value of Import on CIF Basis Nil

10) Earnings in Foreign Exchange (FOB Value) Nil

11) Expenditure in Foreign Currency Nil

12) Company has followed ICDS which has notified by the CBDT Notification No. 87/2016 dt. 29 Sept. 2016

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Mar 31, 2016

Note:

1) This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company not less than 48 hours before the commencement of the Meeting.

2) The proxy need not be a member of the company.

Note:

1) Members are requested to bring their copies of the Annual Report to the meeting, since further copies will not be available.

2) In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by Proxy, shall be accepted to the exclusion of the vote of the other joint holders. Seniority shall be determined by the order in which the names stand in the Register of Members.

3) The submission by a member of this form of proxy will not preclude such member from attending in person and voting at the meeting.

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Mar 31, 2013

NOTE 1

Balance of so me of the parties''accounts is subject to confirmation.

NOTE 2

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business except stated otherwise, the provision for all the known liabilities is adquate and not in excess of the amount considered necessary.

NOTE 3

The previous year figures have been regrouped/reclassified as considered necessary.

NOTE 4

The Company had raised Rs. 1575.00 lakhs by way of Public Issue. Against this, the Company had utilized Rs. 959.12 lakhs as per the Objects of the Issue. The balance amount of Rs. 615.88 lakhs meant for projects have been used in short term investments and will be made available when needed for the projects.

NOTE 5

As informed to us by the management that the quoted investments are listed at Delhi stock exchange and the same have not been traded si nce long time, and therefore the market value of quoted investments cannot be furnished.