Notes to Accounts of Indus Aluminium Recyclers Ltd.

Mar 31, 2025

Terms/Rights attached to equity shares:

The Company has only one class of equity shares having the par value of INR 5 per share. Each holder of equity share is entitled to one vote per share. The equity shares are entitled to receive dividend as and when declared. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

During the year ended 31st March 2025, the amount of per share dividend recognized as distributions to equity shareholders was Rs. Nil (31st March 2024 Rs. Nil)

A. Earnings Per Share (EPS) (Earnings Per Share on Total Comprehensive Income):

The Basic and Diluted Earnings Per Share (EPS) has been computed on the basis of total comprehensive income for the year attributable to equity holders divided by the weighted average number of shares outstanding during the year.

Note: The Company is subject to income tax in India on the basis of its financial statements. The Company can claim tax exemptions/deductions under specific sections of the Income Tax Act, 1961 subject to

fulfilment of prescribed conditions, as may be applicable. The Company had opted for the new tax regime under Section 115BAA of the Act, which provides a domestic company with an option to pay tax at a rate of 22% (effective rate of 25.168%). The lower rate shall be applicable subject to certain conditions, including that the total income should be computed without claiming specific deduction or exemptions

D. Financial Instruments and Related Disclosures:

Financial instruments by category and fair value:

The below table summarizes the judgements and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and

(b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard.

The fair value of trade receivables, cash and cash equivalents, other bank balances, current borrowings, trade payables and other current financial liabilities approximate their carrying amounts, due to their short-term nature.

The company has not disclosed the fair values of non-current borrowings and non-current loans because their carrying amounts are a reasonable approximation of fair values

Financial Risk Management:

The company activities are exposed various financial risks: credit risk, liquidity risk and other price risk. The Company’s primary focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance.

I. Credit Risk:

Loans & Advances:

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss to the Company. The maximum exposure to the credit risk as at the reporting date is primarily from inter corporate deposits. Inter corporate deposits are unsecured and are subject to counterparty default regarding repayment of deposits. Financial assets are written off when there are no reasonable expectations of recovery. The Company categorizes a loan or receivable for write off when a debtor fails to make contractual payments greater than one year past due Where loans or receivables have been written off, the Company continues engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in profit or loss.

Other Financial Assets:

Credit risk relating to cash and cash equivalents and interest accrued on bank deposits, is considered negligible since the counterparties are banks which are majorly owned by Government of India and are have oversight of Reserve Bank of India. The Company considers the credit quality of term deposits with banks to be good and the company reviews these banking relationships on an ongoing basis.

The Company considers all other financial assets as at the balance sheet dates to be of good credit quality.

The company’s principal sources of liquidity are from, Cash and Cash Equivalents. The Short-term liquidity requirements consist mainly of Expense Payables, Employee Dues, Servicing of Interest on Short Term Borrowings and other payments arising during the normal course of business.

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments in equity instruments. The price risk arises due to uncertainties about the future market values of these investments.

E. Capital Management:

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximize return to stakeholders through the optimization of the debt and equity balance.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes, within net debt, interest bearing loans and borrowings, trade and other payables, less cash and short-term deposits.

F. The company has communicated suppliers to provide confirmations as to their status as Micro, Small or Medium Enterprise registered under the applicable category as per the provisions of the Micro, Small and Medium Enterprises (Development) Act, 2006 (MSMED Act, 2006). The company has classified suppliers into Micro, Small and Medium Enterprises as per the confirmations received by the company upto the date of Balances Sheet and accordingly other suppliers are classified as Non-MSME Suppliers irrespective of their status as per the provisions of the Micro, Small and Medium Enterprises (Development) Act, 2006 (MSMED Act, 2006).

G. There are not contingent liabilities, not acknowledged as debt as on March 31, 2025 and March 31, 2024.

As per best estimate of the management, no provision is required to be made in respect of any present obligation as a result of a past event that could lead to a probable outflow of resources, which would be required to settle the obligation.

There are no commitments as on March 31, 2025 and March 31, 2024.

H. In respect of amounts as mentioned under Section 125 of the Companies Act, 2013, there were no dues required to be credited to the Investor Education and Protection Fund as at March 31, 2025 and March 31, 2024.

I. The Company has not entered into any derivative instrument during the year. The Company does not have any foreign currency exposures towards receivables, payables or any other derivative instrument that have not been hedged.

J. There are no immovable properties in the name of company.

K. There are no intangible assets under development in the company during the year ending March 31, 2025 and March 31, 2024.

L. No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

M. The company is not a declared willful defaulter by any bank or financial institution or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.

N. There is no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period at March 31, 2025

O. In the opinion of the Board of Directors, Current Assets & Loans and Advances have a value on realisation in the ordinary course of business equal to the amount at which they are stated in the balance sheet. In the opinion of the Board of Directors, claims receivable against property/goods are realizable as per the terms of the agreement and/or other applicable relevant factors and have been stated in the financial statements at the value which is most probably expected to be realized.

P. All other balances of creditors and loans and advances are subject to confirmation and subsequent reconciliation, if any.

Q. Expenses in foreign currency:

CIF Value of Imports: NIL (Previous Year: NIL)

FOB Value of Exports: NIL (Previous Year: NIL)

R. Utilization of Borrowed Funds and Share Premium:

(a) During the year, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, any security or the like on behalf of the Ultimate Beneficiaries.

(b) During the year, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, any security or the like on behalf of the Ultimate Beneficiaries.

S. Relationship with Struck off Companies:

The company does not have any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956, during the current year and in the previous year.

Following is the details of balance outstanding with struck-off company:

Name of the struck-off company: Incredible Capital Limited.

Balance outstanding year ended: 300.00(Rs. in Lacs)

T. The Company has not revalued its Property, Plant and Equipment during the reporting years.

U. The company has not covered under section 135 related to Corporate Social Responsibility of the Companies Act, 2013.

V. The Company is not declared as willful defaulter by any bank or financial institution or other lender.

W. No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

X. The Company have not traded or invested in Crypto currency during the period under review.

Y. The previous year’s figures have been reworked, regrouped and reclassified wherever necessary so as to

make them comparable with those of the current year.

The Financial Statements have been presented in Indian Rupee ('') in Lakhs rounded off to two decimal points as per amendment to Schedule III to the Companies Act, 2013.

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Mar 31, 2024

(b) FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES:

The Company’s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables and advances from Customers. The Company’s principal financial assets include Investment, loans and advances, trade and other receivables and cash and bank balances that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial assets will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial Assets affected by market risk include loans and borrowings, deposits and derivative financial instruments.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows ofa financial instrument will fluctuate because ofchanges in market interest rates. The Company is not expose to risk of change in market interest rates because copany has not taken any loan.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows ofan exposure will fluctuate because ofchanges in foreign exchange rates. The Company is not exposure to the risk of changes in foreign exchange rates due to non existence of any transaction in foreign currency.

Credit Risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables).

Trade Receivables

Customer credit risk is managed by each business unit subject to the Company’s established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date on an individual basis for major clients.

Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Company’s treasury department in accordance with the Company’s policy. Investments of surplus funds are made only with approved authorities. Credit limits of all authorities are reviewed by the Management on regular basis.

The Company monitors its risk of a shortage of funds using a liquidity planning tool.The Directors of the Company is providing financial support as and when required to manage liquidity risk.The status of different financials liabilties which are expected to be settled is detailed below;

Counterparty and concentration of credit risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the company. The company is exposed to credit risk for receivables, cash and cash equivalents, short-term investments and loans and advances.

Credit risk on receivables is limited as most of the portion of receivables is pertaining to fellow subsidiairy or holding/ ultimate holding Company. The history of trade receivables shows a negligible provision for bad and doubtful debts.

None of the company’s cash equivalents are past due or impaired. Regarding trade and other receivables, and other non-current assets, there were no indications as at 31.03.2023, that defaults in payment obligations will occur.

Of the year ended 31 March, 2024 and 31 March, 2023 Trade and other receivables balance the following were past due but not impaired:

18. Capital Management

For the purpose of the Company’s capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to safeguard continuity, maintain a strong credit rating and healthy capital ratios in order to support its business and provide adequate return to shareholders through continuing growth.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. The funding requirement is met through a mixture of equity, internal accruals and support from Holding company.

19. Post Reporting Events

No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation

20. Authorisation Of Financial Statements

The financial statements for the year ended 31 March ,2023 were approved by the Board of Directors on Dated: 26th May 2023 The management and authorities have the power to amend the Financial Statements in accordance with Section 130 and 131 of The Companies Act, 2013.

21. During financial year 2019-2020 the Company has exercised the option permitted under Section 115BAA of the income tax act, 1961 as introduced by the Taxation Laws (Amendment) Act, 2019.

22. In the opinion of the Management, Current Assets, Loans and Advances are of the value stated, if realized in the ordinary course of business.

23. As per section 248 of the Companies Act, 2013, there are no balances outstanding with struck off companies.

24. Disclosures as per the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006

(a) (i) the principal amount remaining unpaid to any supplier - -

(ii) interest due thereon - -

(b) interest paid in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 and - -

the amount of payment made to the supplier beyond the appointed day.

(c) interest due and payable for the period of delay in making payment other than the interest specified under the - -

Micro, Small and Medium Enterprises Development Act, 2006

(d) interest accrued and remaining unpaid - -

(e) further interest remaining due and payable even in the succeeding years for the purpose of disallowance of a - -

deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act,

2006.

Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. This has been relied upon by the auditors.

25. The company is not having any employee in the current financial year as well as in previous year therefore no provision of Gratuity is provided.

26. The company is not having any revenue in the current financial year, hence there is no Customer.

27. All amounts in financial statements are in actuals.

28. Previous year figure has been regrouped/ reclassified whereever necessary, to make them comparable with current year figures.

As per our attached report of even date For and on behalf of the Board of Directors of

For B. Aggarwal & Co. CONTAINERWAY INTERNATIONAL LTD

Chartered Accountants FRN: 004706N

Kapil Dev Aggarwal Sanjay Sanker Deora S. L. Ganapathi

Partner Director Director

M. No. 082908 DIN No: 01417446 DIN No: 01151727

Place : Delhi Date : 15.05.2024

Abhishek Khursija Company Secretary M.No. :A60811

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Mar 31, 1996

No significant notes to accounts