Accounting Policies of Kritika Wires Ltd. Company

Mar 31, 2025

1.2 Material accounting policies

1.2.1 Statement of Compliance with Ind AS

These financial statements have been prepared in accordance with Indian
Accounting Standards (Ind AS) notified under Section 133 of the Companies Act,
2013. The financial statements have also been prepared in accordance with the
relevant presentation requirements of the Schedule III to the Companies Act, 2013.

All the Ind ASs issued and notified by the Ministry of Corporate Affairs under the
Companies (Indian Accounting Standards) Rules, 2015 (as amended) till the financial
statements approved for issue by the Board of Directors have been considered in
preparing these financial statements.

Accounting policies have been consistently applied except where a newly issued
Indian Accounting Standard is initially adopted or a revision to an existing Indian
Accounting Standard requires a change in the accounting policy hitherto in use.

1.2.2 Basis of preparation

These financial statements of the Company have been prepared in accordance with
Indian Accounting Standards (Ind AS) notified under the Companies (Indian
Accounting Standards) Rules, 2015 (as amended from time to time) and presentation
requirements of Division II of Schedule III to the Act (Ind AS compliant Schedule III).

Accounting policies have been consistently applied except where a newly issued Ind
AS is initially adopted or a revision to an existing Ind AS requires a change in the
accounting policy hitherto in use.

All the assets and liabilities have been classified as current or non-current as per
Company''s normal operating cycle and other criteria set out in Schedule III to the
Act. The operating cycle is the time between the acquisition of assets for processing
and their realization in cash or cash equivalents. Company has ascertained its
operating cycle as 12 months for current and non-current classification of assets and
liabilities.

The items included in the financial statements (including notes thereon) are
measured using the currency of the primary economic environment in which
Company operates ("the functional currency") and are, therefore, presented in
Indian Rupees ("INR" or "Rupees" or "Rs."). All amounts disclosed in the financial
statements including notes thereon have been rounded off to the nearest Lakh upto
two decimals thereof, as per the requirement of Schedule III to the Act, unless stated
otherwise.

1.2.3 Use of Estimates

The preparation of financial statements in conformity with Ind AS requires
management to make judgements, estimates and assumptions that affect the
application of the accounting policies and the reported amounts of assets and
liabilities, the disclosure of contingent assets and liabilities at the date of the financial
statements, and the reported amounts of revenues and expenses during the year.
Actual results could differ from those estimates. The estimates and underlying
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if the revision affects only
that period, they are recognised in the period of the revision and future periods if the
revision affects both current and future periods.

1.2.4 Revenue recognition

Contract with a customer is accounted for only when it has commercial substance
and all of the following criteria are met:

(i) Parties to the contract have approved the contract and are committed to
performing their respective obligations;

(ii) Each party''s rights regarding the goods or services to be transferred and
payment terms there against can be identified;

(iii) Consideration in exchange for the goods or service to be transferred is
collectible and determinable.

(a) Revenue From Operations

The revenue is recognised on satisfaction of performance obligation, when
control over the goods has been transferred and/ or goods are delivered to the
customers. The performance obligation in the case of sale of goods is satisfied at a
point in time i.e. when the goods is shipped to the customers or delivered to the
customers as may be specified in the contracts with them or the Company has
sufficient evidence that all the criteria for acceptance have been satisfied.

Revenue is measured based on the transaction price adjusted for discounts and
rebates, which is specified in a contract with customer. Revenue are net of
estimated returns and taxes collected from customers.

The transaction price is documented on the sales invoice and payment is
generally due as per agreed credit terms with customer.

The consideration can be fixed or variable. Variable consideration is only
recognised when it is highly probable that a significant reversal will not occur.
Consideration is generally due upon satisfaction of performance obligations and
a receivable is recognised when it becomes unconditional. Payment terms agreed
with a customer are as per business practice and the financing component, if
significant, is separated from the transaction price and accounted as interest
income.

Sales return is variable consideration that is recognised and recorded based on
historical experience, market conditions and provided for in the year of sale as
reduction from revenue. The methodology and assumptions used to estimate
returns are monitored and adjusted regularly in line with trade practices,
historical trends, past experience and projected market conditions.

Export entitlements are recognized as income when right to receive credit as per
the terms of the scheme is established in respect of the exports made and where
there is no significant uncertainty regarding the ultimate collection of the
relevant export proceeds.

(b) Other income

(i) Interest income :

For all debt instruments measured at amortised cost, interest income is
recognised using the Effective Interest Rate ("EIR"). Interest income is
included in "Other Income" in the statement of profit and loss.

(ii) Dividend income:

Dividend income is recognised when Company''s right to receive the
dividend is established i.e. in case of interim dividend, on the date of
declaration by the Board of Directors; whereas in case of final dividend,
on the date of approval by the shareholders.

(iii) Insurance claims:

Insurance claims are accounted for based on claims admitted/expected to
be admitted and to the extent that there is no uncertainty in receiving the
claims.

All other income are accounted for on accrual basis.

1.2.5 Property, plant and equipment (PPE) and Capital work-in-progress

a) Property, plant and equipment are measured at cost, less accumulated
depreciation and impairment, if any.

For this purpose, cost includes deemed cost on the date of transition or the
purchase cost of assets, including non-recoverable duties and taxes, and any
directly attributable costs of bringing an asset to the location and condition of its
intended use. Interest on borrowings used to finance the construction of
qualifying assets is capitalized as part of the cost of the asset until such time that
the asset is ready for its intended use.

Costs incurred subsequent to initial capitalization are included in the asset''s
carrying amount only when it is probable that future economic benefits
associated therewith will flow to the Company and it can be measured reliably.

The carrying amount of the replaced part is derecognized. The costs of regular
servicing of property, plant and equipment are recognized in the statement of
profit and loss as and when incurred.

The present value of the expected cost for the decommissioning of an asset after
its use, if any, is included in the cost of the respective asset if the recognition
criteria for provisions are met.

When parts of an item of property, plant and equipment have different useful
lives, they are accounted for as separate components; otherwise, these are added
to and depreciated over the useful life of the main asset.

The cost and related accumulated depreciation are eliminated from the financial
statements upon sale or when no future economic benefits are expected to arise
from the use of the asset and the resultant gains or losses are recognized in the
statement of profit and loss.

b) Depreciation methods, estimated useful lives and residual value

Freehold land is not depreciated.

Depreciation on items of property, plant and equipment commences when the
assets are available for their intended use. It is provided on a written down value
(WDV) basis to allocate their cost, net of their residual value over the estimated
useful life of the respective asset.

The estimated useful lives, residual values and depreciation method are
reviewed at the end of each reporting period, with the effect of any changes in
estimate accounted for on a prospective basis. The Company has adopted the
useful life as specified in Schedule II to the Act, except where specified.

The estimated useful lives estimated by the management are as follows:

*For these class of assets, based on internal assessment and independent technical
evaluation carried out by chartered engineers, the Company believes that the
useful lives as given above best represents the period over which the Company
expects to use these assets. Hence the useful lives for these assets are different
from the useful lives as prescribed under Part C of Schedule II of the Companies
Act, 2013.

The residual value of an item of PPE is not more than 5% of the original cost of
the respective asset.

The estimated useful lives, residual values and depreciation method are
reviewed at-least at the end of each financial year and are adjusted, wherever
appropriate.

Expenditure during the construction period

Directly attributable expenditure (including finance costs relating to borrowed
funds for construction or acquisition of property, plant and equipment) incurred
on projects under implementation are treated as Pre-operative expenses pending
allocation to the assets and are shown under Capital work-in-progress. Capital
work-in-progress is stated at the amount incurred up to the balance sheet date on
assets or property, plant and equipment that are not yet ready for their intended
use.

1.2.6 Financial instruments, Financial assets, Financial liabilities and Equity Instruments

Financial assets and financial liabilities are recognized in the Balance sheet when the
Company becomes a party to the contractual provisions of the instrument. The
Company determines the classification of its financial assets and financial liabilities
at initial recognition based on its nature and characteristics.

Initial Measurement of Financial Instruments:

Financial assets (unless it is a trade receivable without a significant financing
component) and financial liabilities are initially measured at fair value. Transaction
costs that are directly attributable to the acquisition or issue of financial assets and
financial liabilities (other than financial assets and financial liabilities at fair value
through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs
directly attributable to the acquisition of financial assets or financial liabilities at fair
value through profit or loss are recognised immediately in the statement of profit
and loss. Trade receivables that do not contain a significant financing component are
measured at transaction price.

Subsequent Measurement:

(i) Financial assets

Financial Assets carried at Amortised Cost (AC):

A financial asset is measured at amortised cost if it is held within a business
model whose objective is to hold the asset in order to collect contractual cash
flows and the contractual terms of the financial asset give rise on specified
dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.

Financial Assets at Fair Value through Other Comprehensive Income
(FVTOCI):

A financial asset is measured at FVTOCI if it is held within a business model
whose objective is achieved by both collecting contractual cash flows and
selling financial assets and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.

Investment in equity instruments that are not held for trading are measured
at FVTOCI, where an irrevocable election has been made by management on
an instrument-by-instrument basis. These investments are initially measured
at fair value plus transaction costs. Subsequently, they are measured at fair
value with gains and losses arising from changes in fair value recognised in
other comprehensive income and accumulated in the reserves. The
cumulative gain or loss is not reclassified to the statement of profit and loss
on disposal of the investments. Dividends on such investments are
recognised in the statement of profit and loss unless the dividend clearly
represents a recovery of part of the cost of the investment.

Debt investments measured at FVTOCI are subsequently measured at fair
value. Interest income under effective interest method, foreign exchange
gains and losses and impairment are recognised in the statement of profit and
loss. Other net gains and losses are recognised in Other Comprehensive
Income (OCI). On de-recognition, gains and losses accumulated in OCI are
reclassified to the statement of profit and loss.

Financial Assets at Fair Value through Profit or Loss (FVTPL):

A financial asset which is not classified in any of the above categories are
measured at FVTPL. A financial asset that meets the amortised cost criteria or
debt instruments that meet the FVTOCI criteria may be designated as at
FVTPL upon initial recognition if such designation eliminates or significantly
reduces a measurement or recognition inconsistency that would arise from
measuring assets or liabilities or recognising the gains and losses on them on
different bases. The Company has not designated any debt instrument as at
FVTPL.

Financial assets at FVTPL are measured at fair value at the end of each
reporting period, with any gains or losses arising on re-measurement
recognised in the statement of profit and loss.

Impairment of Financial Assets:

Loss allowance for expected credit losses is recognised for financial assets
measured at amortised cost and FVTOCI at each reporting date based on
evidence or information that is available without undue cost or effort.

The Company measures the loss allowance for a financial asset at an amount
equal to the lifetime expected credit losses if the credit risk on that financial
instrument has increased significantly since initial recognition. If the credit
risk on a financial asset has not increased significantly since initial
recognition, the Company measures the loss allowance for that financial asset
at an amount equal to 12-month expected credit losses.

In case of debt instruments measured at FVTOCI, the loss allowance shall be
recognised in other comprehensive income with a corresponding effect to the
profit or loss and not reduced from the carrying amount of the financial asset
in the balance sheet. In case of such instrument, amount recognized in the
statement of profit and loss are the same as the amount would have been
recognized in case the debt instrument is measured at amortised cost.

No Expected credit losses is recognised on equity investments.

For trade receivables or any contractual right to receive cash or another
financial asset that result from transactions that are within the scope of Ind
AS 115, the Company measures the loss allowance at an amount equal to
lifetime expected credit losses taking into account historical credit loss
experience and adjusted for forward-looking information.

De-recognition of Financial Assets:

The Company derecognizes a financial asset when the contractual rights to
the cash flows from the asset expire, or when it transfers the financial asset
and substantially all the risks and rewards of ownership of the asset to
another party.

On de-recognition of a financial asset accounted under Ind AS 109 in its
entirety:

a) for financial assets measured at amortised cost, the gain or loss is
recognized in the statement of profit and loss.

b) for financial assets measured at fair value through other comprehensive
income, the cumulative fair value adjustments previously taken to
reserves are reclassified to the Statement of Profit and Loss unless the
asset represents an equity investment in which case the cumulative fair

value adjustments previously taken to reserves is reclassified within
equity.

(ii) Financial Liabilities and Equity Instruments:

Classification as debt or equity:

Financial liabilities and equity instruments issued are classified according to
the substance of the contractual arrangements entered into and the definitions
of a financial liability and an equity instrument.

Equity Instruments

An Equity Instrument is any contract that evidences a residual interest in the
assets of the Company after deducting all of its liabilities. Repurchase of the
Company''s own equity instruments is recognised and deducted directly in
equity. No gain or loss is recognised in the statement of profit and loss on the
purchase, sale, issue or cancellation of the Company''s own equity
instruments.

Financial Liabilities

Financial liabilities are initially measured at fair value, net of transaction
costs, and are subsequently measured at amortised cost using the effective
interest rate method.

For trade and other payables maturing within one year from the balance
sheet date, the carrying amounts approximate fair value due to the short
maturity of these instruments.

De-recognition of financial liabilities

A financial liability is de-recognized when the obligation under the liability is
discharged or cancelled or expires. When an existing financial liability is
replaced by another from the same lender on substantially different terms, or
the terms of an existing liability are substantially modified, such an exchange
or modification is treated as the de-recognition of the original liability and the
recognition of a new liability. The difference between the carrying amount of
the financial liability de-recognized and the consideration paid and payable is
recognized in the statement of profit and loss.

Off-setting of financial instruments

Financial assets and liabilities are offset and the net amount is reported in the
Balance Sheet when there is a legally enforceable right to offset the
recognized amounts and there is an intention to settle on a net basis or realise
the asset and settle the liability simultaneously backed by past practice.

Fair value measurement

Fair value is the price 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 fair value measurement is based on the
presumption that the transaction to sell the asset or transfer the liability takes
place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for
the asset or liability

The principal or the most advantageous market must be accessible by the
Company.

The fair value of an asset or a liability is measured using the assumptions that
market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the
circumstances and for which sufficient data are available to measure fair
value, maximising the use of relevant observable inputs and minimising the
use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the
financial statements are categorised into Level 1, 2, or 3 based on the degree
to which the inputs to the fair value measurements are observable and the
significance of the inputs to the fair value measurement in its entirety, which
are as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or
liabilities that the entity can access at the measurement date;

Level 2 - Other than quoted prices included within Level 1, that are
observable for the asset or liability, either directly or indirectly; and

Level 3 - Unobservable inputs for the asset or liability.

Expected Credit Loss

Expected credit loss (ECL) is the probability-weighted estimate of credit
losses (i.e., the present value of all cash shortfalls) over the expected life of the
financial instrument. A cash shortfall is the difference between scheduled or
contractual cash flows and actual expected cash flows. Consequently, ECL
subsumes both the amount and timing of payments - a credit loss would
arise even when a receivable was realised in full but later than when
contractually due.

1.2.7 Inventories

Inventories are measured at the lower of cost and net realizable value. Inventory of
scrap is valued at estimated realizable value. The cost of inventories is determined
using the weighted average cost method. Cost includes direct materials, labour, other
direct cost and manufacturing overheads. Inventories of finished goods also includes
applicable taxes. Net realisable value is the estimated selling price in the ordinary
course of business less estimated costs of completion and estimated costs necessary
to make the sale.

1.2.8 Borrowing costs

Borrowing costs, general or specific, that are directly attributable to the acquisition or
construction of a qualifying asset are capitalised as part of the cost of such asset till
such time that is required to complete and prepare the asset to get ready for its
intended use. A qualifying asset is one that necessarily takes a substantial period of
time to get ready for its intended use. Borrowing costs consist of interest and other
costs that the Company incurs in connection with the borrowing of funds. Borrowing
costs also include exchange differences to the extent regarded as an adjustment to the
borrowing costs.

All other borrowing costs are charged to the statement of profit and loss in the period
in which they are incurred.

1.2.9 Expenses

All expenses are accounted for on accrual basis.

Expenses under primary heads such as salary, wages, consumption of stores etc., are
being shown under respective heads and have not been functionally reclassified.

Mar 31, 2024

1.2 Material accounting policies

1.2.1 Statement of Compliance with Ind AS

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013. The financial statements have also been prepared in accordance with the relevant presentation requirements of the Schedule III to the Companies Act, 2013.

All the Ind ASs issued and notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) till the financial statements approved for issue by the Board of Directors have been considered in preparing these financial statements.

Accounting policies have been consistently applied except where a newly issued Indian Accounting Standard is initially adopted or a revision to an existing Indian Accounting Standard requires a change in the accounting policy hitherto in use.

1.2.1 Basis of preparation

These financial statements have been prepared in accordance with Ind AS under the historical cost basis except for the following:

i) Certain financial assets and financial liabilities (including derivative instruments) - measured at fair value, and

ii) Defined benefits plan - plan assets measured at fair value.

Historical cost is generally based on the fair value of the consideration in exchange for goods and services.

Accounting policies have been consistently applied except where a newly issued Ind AS is initially adopted or a revision to an existing Ind AS requires a change in the accounting policy hitherto in use.

All the assets and liabilities have been classified as current or non-current as per Company''s normal operating cycle and other criteria set out in Schedule III to the Act. The operating cycle is the time between the acquisition of assets for processing and their realization in cash or cash equivalents. Company has ascertained its operating cycle as 12 months for current and noncurrent classification of assets and liabilities.

The items included in the financial statements (including notes thereon) are measured using the currency of the primary economic environment in which Company operates ("the functional currency") and are, therefore, presented in Indian Rupees ("INR" or "Rupees" or "Rs."). All amounts disclosed in the financial statements including notes thereon have been rounded off to the nearest Lakh upto two decimals thereof, as per the requirement of Schedule III to the Act, unless stated otherwise.

1.2.2 Use of Estimates

The preparation of financial statements in conformity with Ind AS requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, they are recognised in the period of the revision and future periods if the revision affects both current and future periods.

1.2.3 Revenue recognition

Contract with a customer is accounted for only when it has commercial substance and all of the following criteria are met:

(i) Parties to the contract have approved the contract and are committed to performing their respective obligations;

(ii) Each party''s rights regarding the goods or services to be transferred and payment terms there against can be identified;

(iii) Consideration in exchange for the goods or service to be transferred is collectible and determinable.

Notes forming part of financial statements (contd.)

Note No. 1: Corporate information and Significant Accounting Policies (contd.)

Revenue From Operations

Revenue is recognized to the extent it is probable that economic benefits would flow to the Company and the revenue can be reliably measured, regardless of when the revenue proceeds is received from customers.

Revenue is measured at fair value of the consideration received/receivable taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the Government.

Revenue is measured based on the transaction price adjusted for discounts and rebates and excludes amounts collected on behalf of third parties.

Revenue from sale of goods is recognised at point in time when control is transferred to the customer and it is probable that consideration will be collected. Control of goods is transferred upon the shipment of the goods to the customer or when goods is made available to the customer.

The transaction price is documented on the sales invoice or contract and payment is generally due as per agreed credit terms with customer.

The consideration is generally fixed. Variable consideration, if any is recognised when it is highly probable that a significant reversal will not occur.

(b) Other income

(i) Interest income

For all debt instruments measured at amortised cost, interest income is recognised using the Effective Interest Rate ("EIR"). Interest income is included in "Other Income" in the statement of profit and loss.

(ii) Dividend income

Dividend income is recognised when Company''s right to receive the dividend is established i.e. in case of interim dividend, on the date of declaration by the Board of Directors; whereas in case of final dividend, on the date of approval by the shareholders.

(iii) Insurance claims

Insurance claims are accounted for based on claims admitted/expected to be admitted and to the extent that there is no uncertainty in receiving the claims.

All other income are accounted for on accrual basis.

1.2.4 Property, plant and equipment (PPE) and Capital work-in-progress

a) Property, plant and equipment are measured at cost, less accumulated depreciation and impairment, if any.

For this purpose, cost includes deemed cost on the date of transition or the purchase cost of assets, including non-recoverable duties and taxes, and any directly attributable costs of bringing an asset to the location and condition of its intended use. Interest on borrowings used to finance the construction of qualifying assets is capitalized as part of the cost of the asset until such time that the asset is ready for its intended use.

Costs incurred subsequent to initial capitalization are included in the asset''s carrying amount only when it is probable that future economic benefits associated therewith will flow to the Company and it can be measured reliably.

The carrying amount of the replaced part is derecognized. The costs of regular servicing of property, plant and equipment are recognized in the statement of profit and loss as and when incurred.

The present value of the expected cost for the decommissioning of an asset after its use, if any, is included in the cost of the respective asset if the recognition criteria for provisions are met.

When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate components; otherwise, these are added to and depreciated over the useful life of the main asset.

The cost and related accumulated depreciation are eliminated from the financial statements upon sale or when no future economic benefits are expected to arise from the use of the asset and the resultant gains or losses are recognized in the statement of profit and loss.

b) Depreciation methods, estimated useful lives and residual value

Freehold land is not depreciated.

Depreciation on items of property, plant and equipment commences when the assets are available for their intended use. It is provided on a written down value (WDV) basis to allocate their cost, net of their residual value over the estimated useful life of the respective asset.

The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. The Company has adopted the useful life as specified in Schedule II to the Act, except where specified.

*For these class of assets, based on internal assessment and independent technical evaluation carried out by chartered engineers, the Company believes that the useful lives as given above best represents the period over which the Company expects to use these assets. Hence the useful lives for these assets are different from the useful lives as prescribed under Part C of Schedule II of the Companies Act, 2013.

The residual value of an item of PPE is not more than 5% of the original cost of the respective asset.

Expenditure during the construction period

Directly attributable expenditure (including finance costs relating to borrowed funds for construction or acquisition of property, plant and equipment) incurred on projects under implementation are treated as Pre-operative expenses pending allocation to the assets and are shown under Capital work-in-progress. Capital work-in-progress is stated at the amount incurred up to the balance sheet date on assets or property, plant and equipment that are not yet ready for their intended use.

1.2.5 Financial instruments, Financial assets, Financial liabilities and Equity Instruments

Financial assets and financial liabilities are recognized in the Balance sheet when the Company becomes a party to the contractual provisions of the instrument. The Company determines the classification of its financial assets and financial liabilities at initial recognition based on its nature and characteristics.

Initial Measurement of Financial Instruments:

Financial assets and financial liabilities are initially measured at fair value except for trade receivables. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price determined under Ind AS 115. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in the statement of profit and loss.

Subsequent Measurement:

(i) Financial assets

Financial Assets carried at Amortised Cost (AC):

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial Assets at Fair Value through Other Comprehensive Income (FVTOCI):

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Investment in equity instruments that are not held for trading are measured at FVTOCI, where an irrevocable election has been made by management on an instrument-byinstrument basis. These investments are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognised in other comprehensive income and accumulated in the reserves. The cumulative gain or loss is not reclassified to the statement of profit and loss on disposal of the investments. Dividends on such investments are recognised in the statement of profit and loss unless the dividend clearly represents a recovery of part of the cost of the investment.

Debt investments measured at FVTOCI are subsequently measured at fair value. Interest income under effective interest method, foreign exchange gains and losses and impairment are recognised in the statement of profit and loss. Other net gains and losses are recognised in Other Comprehensive Income (OCI). On de-recognition, gains and losses accumulated in OCI are reclassified to the statement of profit and loss.

Financial Assets at Fair Value through Profit or Loss (FVTPL):

A financial asset which is not classified in any of the above categories are measured at FVTPL. A financial asset that meets the amortised cost criteria or debt instruments that meet the FVTOCI criteria may be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would arise from measuring assets or liabilities or recognising the gains and losses on them on different bases. The Company has not designated any debt instrument as at FVTPL.

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognised in the statement of profit and loss.

Impairment of Financial Assets:

Loss allowance for expected credit losses is recognised for financial assets measured at amortised cost and FVTOCI at each reporting date based on evidence or information that is available without undue cost or effort.

The Company measures the loss allowance for a financial asset at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If the credit risk on a financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for that financial asset at an amount equal to 12-month expected credit losses.

In case of debt instruments measured at FVTOCI, the loss allowance shall be recognised in other comprehensive income with a corresponding effect to the profit or loss and not reduced from the carrying amount of the financial asset in the balance sheet. In case of such instrument, amount recognized in the statement of profit and loss are the same as the amount would have been recognized in case the debt instrument is measured at amortised cost.

No Expected credit losses is recognised on equity investments.

For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 115, the Company measures the loss allowance at an amount equal to lifetime expected credit losses taking into account historical credit loss experience and adjusted for forward-looking information.

Derecognition of Financial Assets:

The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset accounted under Ind AS 109 in its entirety:

a) for financial assets measured at amortised cost, the gain or loss is recognized in the statement of profit and loss.

b) for financial assets measured at fair value through other comprehensive income, the cumulative fair value adjustments previously taken to reserves are reclassified to the Statement of Profit and Loss unless the asset represents an equity investment in which case the cumulative fair value adjustments previously taken to reserves is reclassified within equity.

(ii) Financial Liabilities and Equity Instruments:

Classification as debt or equity:

Financial liabilities and equity instruments issued are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.

Equity Instruments

An Equity Instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Repurchase of the Company''s own equity instruments is recognised and deducted directly in equity. No gain or loss is recognised in the statement of profit and loss on the purchase, sale, issue or cancellation of the Company''s own equity instruments.

Financial Liabilities

Financial liabilities are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest rate method.

For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

Derecognition of financial liabilities

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de-recognition of the original liability and the recognition of a new liability. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in the statement of profit and loss.

Off-setting of financial instruments

Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously backed by past practice.

Fair value measurement

Fair value is the price 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 fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised into Level 1, 2, or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;

Level 2 - Other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and

Level 3 - Unobservable inputs for the asset or liability.

Expected Credit Loss

Expected credit loss (ECL) is the probability-weighted estimate of credit losses (i.e., the present value of all cash shortfalls) over the expected life of the financial instrument. A cash shortfall is the difference between scheduled or contractual cash flows and actual expected cash flows. Consequently, ECL subsumes both the amount and timing of payments - a credit loss would arise even when a receivable was realised in full but later than when contractually due.

1.2.6. Inventories

Inventories are measured at the lower of cost and net realizable value. Inventory of scrap is valued at estimated realizable value. The cost of inventories is determined using the weighted average cost method. Cost includes direct materials, labour, other direct cost and manufacturing overheads. Inventories of finished goods also includes applicable taxes. Net realisable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated costs necessary to make the sale.

1.2.7 Borrowing costs

Borrowing costs, general or specific, that are directly attributable to the acquisition or construction of a qualifying asset are capitalised as part of the cost of such asset till such time that is required to complete and prepare the asset to get ready for its intended use. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs.

All other borrowing costs are charged to the statement of profit and loss in the period in which they are incurred.

1.2.8 Expenses

All expenses are accounted for on accrual basis.

Expenses under primary heads such as salary, wages, consumption of stores etc., are being shown under respective heads and have not been functionally reclassified.

Mar 31, 2023

Note No. 1: Corporate information and Significant Accounting Policies

1.1 Corporate information

KritLka Wires Limited ("the Company") an existing Company, under the Companies Act, 2013 having Corporate Identity Number ("CIN") L27102WB2004PLC098699 is a public limited company incorporated and domiciled in India and has its registered office situated at 1A, Bonfield Lane, Mezanine Floor, Kolkata - 700001, West Bengal, India.

The Company''s shares are listed on 10^th October, 2018 in the National Stock Exchange of India Limited - Emerge and as on the Balance Sheet date, the shares are also listed on Main Board of National Stock Exchange of India Limited.

The principal activity of the Company is manufacturing, exporting and supplying a wide range of Industrial Steel Wire and Galvanized Wire.

The financial statements for the year ended 31^st March, 2023 were approved for issue by the Board of Directors of the Company on 30th May, 2023 and are subject to the approval by the shareholders in the ensuing Annual General Meeting.

1.2 Significant accounting policies

1.2.1 Statement of Compliance with Ind AS

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013. The financial statements have also been prepared in accordance with the relevant presentation requirements of the Schedule III to the Companies Act, 2013.

All the Ind ASs issued and notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) till the financial statements approved for issue by the Board of Directors have been considered in preparing these financial statements.

Accounting policies have been consistently applied except where a newly issued Indian Accounting Standard is initially adopted or a revision to an existing Indian Accounting Standard requires a change in the accounting policy hitherto in use.

1.2.1 Basis of preparation

These financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and presentation requirements of Division II of Schedule III to the Act (hid AS comoliant Schedule Dll.

Accounting policies have been consistently applied except where a newly issued Ind AS is initially adopted or a revision to an existing Ind AS requires a change in the accounting policv hitherto in use.

All the assets and liabilities have been classified as current or non-current as per Company''s normal operating cycle and other criteria set out in Schedule III to the Act. The operating cycle is the time between the acquisition of assets for processing and their realization in cash or cash equivalents. Company has ascertained its operating cycle as 12 months for current and non-current classification of assets and liabilities.

The items included in the financial statements (including notes thereon) are measured using the currency of the primary economic environment in which Company operates ("the functional currency") and are, therefore, presented in Indian Rupees ("INR" or "Rupees" or "Rs."). All amounts disclosed in the financial statements including notes thereon have been rounded off to the nearest Lakh upto two decimals thereof, as per the requirement of Schedule III to

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1.2.2 Use of Estimates

The preparation of financial statements in conformity with Ind AS requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, they are recognised in the period of the revision and future periods if the revision affects both current and future periods.

1.2.3 Revenue recognition

Contract with a customer is accounted for only when it has commercial substance and all of the following criteria are met:

(i) Parties to the contract have approved the contract and are committed to performing their respective obligations;

(ii) Each party''s rights regarding the goods or services to be transferred and payment terms there against can be identified;

(iii) Consideration in exchange for the goods or service to be transferred is collectible and determinable.

Revenue From Operations

Revenue is measured at fair value of the consideration received/ receivable taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the Government.

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue when it transfers control over a product or service to customers in accordance with Ind AS 115.

The Company recognizes revenue to depict the transfer of promised goods or services to customers in amounts that reflect the payment to which the Companv expects to be entitled in exchange for those goods or services bv applying the following steps:

Step -1- Identify the contract with a customer;

Step -2- Identify the performance obligations in the contract;

Step -3- Determine the transaction price;

Step -4-Allocate the transaction price to the performance obligations in die contract;

Step -5-Recognize the revenue when (or as) the Company satisfies a performance obligation.

(b) Other income

(i) Interest income

For all debt instruments measured at amortised cost, interest income is recognised using the Effective Interest Rate ("EIR"). Interest income is included in "Other Income" in the statement of profit and loss.

(ii) Dividend income

Dividend income is recognised when Company''s right to receive the dividend is established i.e. in case of interim dividend, on the date of declaration by the Board of Directors; whereas in case of final dividend, on the date of approval bv the shareholders.

(iii) Insurance claims

Insurance claims are accounted for based on claims admitted/expected to be admitted and to the extent that there is no uncertainty in receiving the claims.

All other income are accounted for on accrual basis.

1.2.4 Property, plant and equipment (PPE) and Capital work-in-progress

a) Property, plant and equipment are measured at cost, less accumulated depreciation and impairment, if any.

For this purpose, cost includes deemed cost on the date of transition or the purchase cost of assets, including non-recoverable duties and taxes, and any directly attributable costs of bringing an asset to the location and condition of its intended use. Interest on borrowings used to finance the construction of qualifying assets is capitalized as part of the cost of the asset until such time that the asset is ready for its intended use.

Costs incurred subsequent to initial capitalization are included in the asset''s carrying amount only when it is probable that future economic benefits associated therewith will flow to the Companv and it can be measured reliably.

The carrying amount of the replaced part is derecognized. The costs of regular servicing of property, plant and equipment are recognized in the statement of profit and loss as and when incurred.

The present value of the expected cost for the decommissioning of an asset after its use, if any, is included in the cost of the respective asset if the recognition criteria for provisions are met.

When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate components; otherwise, these are added to and depreciated over the useful life of the main asset.

The cost and related accumulated depreciation are eliminated from the financial statements upon sale or when no future economic benefits are expected to arise from the use of the asset and the resultant gains or losses are recognized in the statement of profit and loss.

b) Depreciation methods, estimated useful lives and residual value

Freehold land is not depreciated.

Depreciation on items of property, plant and equipment commences when the assets are available for their intended use. It is provided on a written down value (WDV) basis to allocate their cost, net of their residual value over the estimated useful life of the respective asset.

The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. The Company has adopted the useful life as specified in Schedule II to the Act, except where specified.

The estimated useful lives estimated by the management are as follows:
Category	Useful life
Buildings	3-60 years
Plant and eauioment	5-25 years
Furniture and fixtures	10 years
Vehicles	5-10 years
Computers	3-6 years

The residual value of an item of PPE is not more than 5% of the original cost of the respective asset.

The estimated useful lives, residual values and depreciation method are reviewed at-least at the end of each financial year and are adjusted, wherever appropriate.

Expenditure during the construction period

Directly attributable expenditure (including finance costs relating to borrowed funds for construction or acquisition of property, plant and equipment) incurred on projects under implementation are treated as Pre-operative expenses pending allocation to the assets and are shown under Capital work-inprogress. Capital work-in-progress is stated at the amount incurred up to the balance sheet date on assets or property, plant and equipment that are not yet ready for their intended use.

1.2.5 Financial instruments. Financial assets. Financial liabilities and Equity Instruments

Financial assets and financial liabilities are recognized in the Balance sheet when the Company becomes a party to the contractual provisions of the instrument. The Company determines the classification of its financial assets and financial liabilities at initial recognition based on its nature and characteristics.

Initial Measurement of Financial Instruments:

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in the statement of profit and loss.

Subsequent Measurement:

(i) Financial assets

Financial Assets carried at Amortised Cost (AC):

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial Assets at Fair Value through Other Comprehensive Income (FVTOCI):

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the orincioal amount outstanding.

Investment in equity instruments that are not held for trading are measured at FVTOCI, where an irrevocable election has been made by management on an instrument-by-instrument basis. These investments are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognised in other comprehensive income and accumulated in the reserves. The cumulative gain or loss is not reclassified to the statement of profit and loss on disposal of the investments. Dividends on such investments are recognised in the statement of profit and loss unless the dividend clearly represents a recovery of part of the cost of the investment.

Debt investments measured at FVTOCI are subsequently measured at fair value. Interest income under effective interest method, foreign exchange gains and losses and impairment are recognised in the statement of profit and loss. Other net gains and losses are recognised in Other Comprehensive Income (OQ). On de-recognition, gains and losses accumulated in OQ are reclassified to the statement of profit and loss.

Financial Assets at Fair Value through Profit or Loss (FVTPL):

A financial asset which is not classified in any of the above categories are measured at FVTPL. A financial asset that meets the amortised cost criteria or debt instruments that meet the FVTOCI criteria may be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would arise from measuring assets or liabilities or recognising the gains and losses on them on different bases. The Company has not designated any debt instrument as at FVTPL.

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognised in the statement of profit and loss.

Impairment of Financial Assets:

Loss allowance for expected credit losses is recognised for financial assets measured at amortised cost and FVTOCI at each reporting date based on evidence or information that is available without undue cost or effort.

The Company measures the loss allowance for a financial asset at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If the credit risk on a financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for that financial asset at an amount equal to 12-month expected credit losses.

In case of debt instruments measured at FVTOCI, the loss allowance shall be recognised in other comprehensive income with a corresponding effect to the profit or loss and not reduced from the carrying amount of the financial asset in the balance sheet. In case of such instrument, amount recognized in the statement of profit and loss are the same as the amount would have been recognized in case the debt instrument is measured at amortised cost.

No Expected credit losses is recognised on equity investments.

For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 115, the Company measures the loss allowance at an amount equal to lifetime expected credit losses taking into account historical credit loss experience and adjusted for forward-looking information.

Derecognition of Financial Assets:

The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset accounted under Ind AS 109 in its entirety:

a) for financial assets measured at amortised cost, the gain or loss is recognized in the statement of profit and loss.

b) for financial assets measured at fair value through other comprehensive income, the cumulative fair value adjustments previously taken to reserves are reclassified to the Statement of Profit and Loss unless the asset represents an equity investment in which case the cumulative fair value adjustments previously taken to reserves is reclassified within eauitv.

(ii) Financial Liabilities and Equity Instruments:

Classification as debt or equity:

Financial liabilities and equity instruments issued are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.

Equity Instruments

An Equity Instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Repurchase of the Company''s own equity instruments is recognised and deducted directly in equity. No gain or loss is recognised in the statement of profit and loss on the purchase, sale, issue or cancellation of the Company''s own eauitv instruments.

Financial Liabilities

Financial liabilities are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest rate method.

For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

Derecognition of financial liabilities

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Off-setting of financial instruments

Fair value measurement

Fair value is the price 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 fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised into Level 1,2, or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;

Level 2 - Other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 - Unobservable inputs for the asset or liability.

Expected Credit Loss

Expected credit loss (ECL) is the probability-weighted estimate of credit losses (i.e., the present value of all cash shortfalls) over the expected life of the financial instrument. A cash shortfall is the difference between scheduled or contractual cash flows and actual expected cash flows. Consequently, ECL subsumes both the amount and timing of payments - a credit loss would arise even when a receivable was realised in full but later than when

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1.2.6 Inventories

Inventories are measured at the lower of cost and net realizable value. Inventory of scrap is valued at estimated realizable value. The cost of inventories is determined using the weighted average cost method. Cost includes direct materials, labour, other direct cost and manufacturing overheads. Inventories of finished goods also includes applicable taxes. Net realisable value is the estimated selling price in the ordinary course of business less estimated costs of

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1.2.7 Borrowing costs

Borrowing costs, general or specific, that are directly attributable to the acquisition or construction of a qualifying asset are capitalised as part of the cost of such asset till such time that is required to complete and prepare the asset to get ready for its intended use. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs.

All other borrowing costs are charged to the statement of profit and loss in the period in which they are incurred.

1.2.8 Expenses

All expenses are accounted for on accrual basis.

Expenses under primary heads such as salary, wages, consumption of stores etc., are being shown under respective heads and have not been functionally reclassified.

1.2.9 Provisions, contingent liabilities and contingent assets

(a) A provision is recognised if, as a result of a past event, Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be reauired to settle the obligation. Provisions are not recognised for future operating losses.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation as at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset. The expense relating to the provision is presented in the statement of profit and loss, net of anv reimbursement.

(b) Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made.

(c) A contingent asset is not recognised in the financial statements, however, it is disclosed, where an inflow of economic benefits is probable.

(d) Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

1.2.10 Foreign currency transactions and translations

Transactions in foreign currencies are initially recorded at the exchange rate prevailing on the date the transaction first qualifies for recognition.

Monetary assets and liabilities related to foreign currency transactions remaining outstanding on the balance sheet date are translated at the exchange rate prevailing on the balance sheet date. Any income or expense arising on account of foreign exchange difference either on settlement or on translation is recognised in the statement of profit and loss.

Non-monetary items which are carried at historical cost denominated in a foreign currency are translated using the exchange rate at the date of the initial transaction.

1.2.11 Employee benefits

(a) Short-term employee benefits

Short-term employee benefits in respect of salaries and wages, including non-monetary benefits, are recognised as an expense at the undiscounted amount in the statement of profit and loss in the year in which the related service is rendered.

(b) Defined contribution plans

The Company pays provident and other fund contributions to publicly administered fund as per related Government regulations. The Company has no further obligation, other than the contributions payable to the respective funds. The Company recognizes contribution payable to such funds as an expense when an employee renders the related service.

The Company operates a defined benefit gratuity plan.

The liability or asset recognised in the balance sheet in respect of gratuity is the present value of the defined benefit obligation as at the balance sheet date less the fair value of plan assets. The defined benefit obligation is calculated bv external actuaries using the proiected unit credit method.

Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised directly in other comprehensive income in the period in which they occur and are included in retained earnings in the statement of changes in equity and in the balance sheet.

1.2.12 Government Grants

Government grants are recognised when there is reasonable assurance that the grant would be received and the Company would comply with all the conditions attached to them.

Government grants related to property, plant and equipment, including non-monetary grants, are presented in the balance sheet by deducting the grant in arriving at the carrying amount of the asset.

Government grants of revenue in nature are recognised on a systematic basis in the statement of profit and loss over the period necessary to match them with the related costs and are adjusted with the related expenditure. If not related to a specific expenditure, it is considered as income and included under "Other Operating Revenue" or "Other Income".

The benefit of a government loan at a below-market rate of interest or loan with interest subvention and effect of this favourable interest is treated as a government grant. The loan or assistance is initially recognised at fair value and the government grant is measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates and recognised on a systematic basis in the statement of profit and loss. The loan is subsequently measured as per the accounting policy applicable to financial liabilities.

1.2.13 Impairment of Non financial Assets

An impairment loss is recognised for the amount by which the carrying amount of the asset exceeds its recoverable amount. The recoverable amount is the higher of an asset''s fair value less costs to sell and value in use.

To assess impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units).

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

If at the balance sheet date, there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the impairment loss previously recognised is reversed so that the asset is recognised at its recoverable amount but not exceeding the value which would have been reported in this respect if the impairment loss had not been recognised.

1.2.14 Taxes

Income tax expense comprises current tax and deferred tax and is recognised in the statement of profit and loss except to the extent it relates to items directly recognised in Eauitv or other comprehensive income (OCT).

a) Current income tax

Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities using the tax rates and tax laws that are enacted or substantively enacted by the balance sheet date and applicable for the period.

Current tax items in correlation to the underlying transaction relating to OCI and Equity are recognised in OCI and Equity respectively.

Management periodically evaluates positions taken in the tax returns to situations in which applicable tax regulations are subject to interpretation and full provisions are made where appropriate based on the amount expected to be paid to the tax authorities.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognised amounts and where it intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously.

b) Deferred income tax

Deferred income tax assets and liabilities are recognised for the deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount in the standalone financial statements.

Deferred tax assets are recognised for deductible temporary differences, the carry forward of unused tax credits and any unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that the same will be reversed or sufficient taxable profit will be available to allow all or part of the deferred tax assets to be utilised.

Deferred tax assets and liabilities are measured at the tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

Deferred tax assets include Minimum Alternative Tax (MAT) paid in accordance with the tax laws in India, which is likely to give future economic benefits in the form of availability of set off against future income tax liability.

Accordingly, MAT is recognised as deferred tax asset in the balance sheet when the asset can be measured reliably, and it is probable that the future economic benefit associated with asset will be realised.

1.2.15 Earnings per Share

(a) Basic earnings per share are computed by dividing the net profit/ (loss) after tax by the weighted average number of equity shares outstanding during the vear.

(b) Diluted earnings per share are computed by dividing the net profit/(loss) after tax by the weighted average number of equity shares considered for deriving basic earnings per share and also the weighted average number of equity shares that could be issued on the conversion of all dilutive potential eauitv shares. Dilutive potential eouitv shares are determined at the end of each neriod presented

The number of equity shares and potential dilutive equity shares are adjusted retrospectively for all periods presented for any share split and bonus shares issues including for changes effected before the approval of the standalone financial statements by the Board of Directors.

1.2.16 Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash on hand, cheques on hand, balance with banks, and short term liquid investments with an original maturity of three months or less and which carry an insignificant risk of changes in value.

For the purpose of the Cash Flow Statement, Cash and cash equivalents consist of Cash and cash equivalents, as defined above and net of outstanding book overdrafts as thev are considered an integral Dart of the Comoanv''s cash management.

1.2.17 Cash Flow Statement

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

1.2.18 Critical accountine judgements and kev sources of estimation uncertainty

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period; they are recognised in the neriod of the revision and future oeriods if the revision affects both current and future Deriods.

fa) Judgements in applying accounting policies

The judgements, apart from those involving estimations (see note below), that the Company has made in the process of applying its accounting policies and that have a significant effect on the amounts recognised in these financial statements pertain to useful life of intangible assets.

(b) Kev sources of estimation uncertainty

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

fi) Useful lives of property, plant and equipment:

As described in the significant accounting policies, the Company reviews the estimated useful lives of property, plant and equipment and intangible assets at the end of each reporting period.

(ii) Fair value measurements and valuation processes:

Some of the Company⁷ s assets are measured at fair value for financial reporting purposes. Fair value measurements are categorised into Level 1, 2, or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entiTetv.

Information about the valuation techniques and inputs used in determining the fair value of various assets and liabilities are disclosed in the notes to the financial statements.

(iii) Actuarial Valuation:

The determination of Company''s liability towards defined benefit obligation to employees is made through independent actuarial valuation including determination of amounts to be recognised in the Statement of Profit and Loss and in other comprehensive income. Such valuation depends upon assumptions determined after taking into account inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market. Information about such valuation is provided in notes to the financial statements.

(iv) Provisions and Contingent Liabilities:

Any litigation where amount of flow of funds is believed to be probable and are liable estimate of the outcome of the dispute can be made based on management⁷s assessment of specific circumstances of each dispute and relevant external advice, management provides for its best estimate of the liability. Such accruals are by nature complex and can take number of years to resolve and can involve estimation uncertainty. Information about such litigations is provided in notes to the financial statements.

(v) Impairment of Financial Assets:

The Company assesses impairment based on expected credit losses (ECL) model on trade receivables. The Company uses a provision matrix to determine impairment loss allowance on the portfolio of trade receivables. The provision matrix is based on its historically observed default rates over the expected life of the trade receivable. At every reporting date, the historically observed default rates are updated.

1.2.19 Recent accounting pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian Accounting Standards) Rules, 2015 by issuing the Companies (Indian Accounting Standards) Amendment Rules, 2023, applicable from April 1,2023, as below:

Ind AS 1 - Presentation of Financial Statements - The amendments require companies to disclose their material accounting policies rather than their significant accounting policies. Accounting policy information, together with other information, is material when it can reasonably be expected to influence decisions of primary users of general purpose financial statements. The Company does not expect this amendment to have any significant impact in its financial statements.

Ind AS 12 - Income Taxes The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. The Company is evaluating the impact, if any, in its financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - The amendments will help entities to distinguish between accounting policies and accounting estimates. The definition of a change in accounting estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The Company does not expect this amendment to have any significant impact in its financial statements.

Mar 31, 2018

NOTES ON FINANCIAL STATEMENT FOR THE YEAE ENDED 31ST MARCH 2018 Note -

1 Significant Accounting Policy

General

i. The financial statements are prepared on historical cost convention and all Expenses and Income, unless specifically stated to be otherwise, have been accounted for on mercantile basis except Gratuity paid or accounted for on Cash basis, and in accordance with the generally accepted accounting principles in India and provisions of Companies Act 2013 and comply with the material aspects with the Accounting Standards notified under the Go''s Act, 2013 read with companies (Accounting Standard) Rule, 2006.

ii. All Assets & Liabilities have been classified as current or non-current as per Companies normal operating cycle and other criteria set out in the Schedule III in the Companies Act, 2013.

Use of Estimates

The preparation of the financial statements, in conformity with the accounting standards generally accepted in India, requires the management to make estimates that affect the reported amount of assets & liabilities, disclosure of contingent liabilities as at the date of the financial statement and reported amounts of revenue and expenses for the year. Actual results could differ from these estimates. Difference between the actual results and estimates are recognized in the period in which the results are known / materialized.

Revenue Recognition

i. Sales comprise invoice value of Goods net of VAT & Excise and are recognized on transfer of risk and rewards associated with the property in goods to the buyer which is normally on delivery as per terms of sales.

ii. Export transactions are recorded at prevailing exchange rates and Import transactions are recorded at exchange rates as specified by the Custom Authorities

iii. The difference between the specified rate and actual rate of settlement is dealt with Profit & Loss A/c.

iv. Any income or expenses on account of exchange difference either on settlement or on translation is recognized in the P&L A/c.

v. All expenses and income to the extent considered payable and receivable respectively unless specifically stated to be otherwise are accounted for on Mercantile Basis, except Export Incentives which are being accounted for as and when received.

Investments

Long Term Investments are stated at cost.

Fixed Assets

Fixed Assets are stated at cost of acquisition or construction, inclusive of inward freight, duties & taxes and other related incidental expenses and exclusive of Modvat / Cenvat benefit availed less accumulated depreciation and impairment of loss, if any. All cost including finance cost till the asset is put to commercial use is capitalized.

Depreciation & Amortization

Depreciation on Fixed assets is provided on Written down Value (WDV) Method based on the useful life of the Assets as prescribed in Schedule II to the Companies Act, 2013. The useful lives of the assets are arrived at by retaining 5% of the cost of assets as residual value.

Inventories

i) Raw materials, Stores, Spares, Fuel & Consumables are valued at Cost ii) Finished Goods are valued at lower of cost or market price.

iii) Works in progress are valued at cost of Raw Material plus proportion of Manufacturing Expenses.

Employment Benefits:

The company''s contribution to the recognized provident fund, pension fund & employees deposit linked insurance scheme paid/payable during the year debited to profit & loss account.

Retirement Benefits:

Retirement benefits are not computed and are not provided in the accounts.

Modvat/Cenvat

Cenvat benefits is accounted for by reducing the purchase cost of materials / fixed assets.

Provisions, Contingent Liabilities & Contingent Assets

Provisions are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but disclosed by way of Notes while Contingent Assets are neither recognized nor disclosed.

Taxation

i) Provision for Income Tax comprises of current tax and deferred tax charge or release. Deferred tax is recognized subject to consideration of prudence on timing difference being difference between taxable and accounting Income/Expenditure that originate in one period and are capable of reversal in one or more subsequent periods. Deferred Tax Assets are not recognized unless there is a virtual certainty that sufficient future taxable income will be available against which such deferred tax assets will be realized.

ii) Minimum Alternant Tax Credit Entitlement is recognized in the books of accounts when there is convincing evidence that the company will pay the normal Income Tax during the specified period. The Entitlement is reviewed at each balance sheet date with regards to the correctness of the carrying amount.

Impairment of Assets

An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value being higher of value in use and net selling price, value in use is measured on the basis of reasonable estimate of the expected cash flows over the balance useful life of the assets, Impairments losses are recognized as an expenses in the Profit & Loss Account in which Assets is identified as impaired. The impaired loss recognized in prior accounting period if there is improvement in the recoverable amount.

Earning Per Share

"Earning per share" is computed in accordance with Accounting Standards - 20. Basic Earning per share is calculated by dividing the net profit or loss after tax for the year attributable to equity shareholders by the weighted average no of equity shares outstanding during the year.

			AS AT 31-Mar-2018 (Rs.)		AS AT 31-Mar-2017 (Rs.)
2	SHARE CAPITAL
	a) Authorised Capital
	18,500,000 Equity Shares of Rs. 10/- each		185,000,000		80,000,000
	(P.Y. 80,00,000 Shares of Rs. 10/- Each) b) Issued, Subscribed & Fully Paid up
	12,940,000 Equity Shares of Rs. 10/- each fully paid-up (Out of the above 64,70,000 Eq. Shares @ Rs. 10/- each were issued by way of Bonus.) (P.Y. 64,70,000 Eq. Share Capital of Rs. 10/- per Share)		129,400,000		64,700,000
			129,400,000		64,700,000
	c) Reconciliation of number of shares outstanding is set out below:
	Equity Shares at the beginning of the year		6470000		6070000
	Add: Bonus Shares Alloted during the year		6470000		400000
	Equity Shares at the closing of the year		12940000		6470000

	d) The company has only one class of equity shares having par value of Rs. 10/- each and each shareholder is eligible for one vote per share.
	e) Details of the Shareholder holding more than 5 % Shares
	Name of the Share Holder	% Held	No. of Shares	% Held	No. of Shares
	Alltime Suppliers Private Limited	7.26%	940000	7.26%	470000
	Gunnayak Commercial Pvt. Ltd.	26.66%	3450000	26.66%	1725000
	Hanuman Prasad Agarwal	9.43%	1220000	-	-
	Mohta Agencies Pvt. Ltd.	5.87%	760000	5.87%	380000
	Naresh Kumar Agarwal	6.49%	840000	13.45%	870000
	Panchshul Merchants Pvt. Ltd.	15.46%	2000000	15.46%	1000000
	R. A. Computech Investment & Consultants (P) Ltd.	7.50%	970000	7.50%	485000
	Sulochana Garg	_	_	11.90%	770000
	Sushil Agarwal	9.43%	1220000	-	-
3	RESERVES & SURPLUS
	a) Capital Reserve
	As per last Balance Sheet Add: Addition during the year		1,500,000		1,500,000
			1,500,000		1,500,000
	b) Securities Premium
	As per last Balance Sheet		209,800,000		193,800,000
	Add: Addition during the year		-		16,000,000
			209,800,000		209,800,000
	Less: Reduction for Bonus issue of Shares		64,700,000		-
			145,100,000		209,800,000
	c) Profit & Loss Account
	As per last Balance Sheet		82,681,383		59,497,322
	Add: Profit/ (Loss) during the year		50,798,530		23,184,062
			133,479,913		82,681,383

	d) TOTAL (a b c)		280,079,913		293,981,383

		31-Mai-2018	31-Mai-2017
4	LONG TERM BORROWINGS
	a) Securred Loan
	From HDFC Bank	-	1,088,479
		-	1,088,479
	b) Unsecurred Loan
	From Related Parties	12,108,458	24,228,102
	From Bodies Corporate	80,394,683	38,813,677
		92,503,141	63,041,779

	c) Nature of security and repayment terms	92,503,141	64,130,258

	i) The term loan is secured against Hyp. of Car ii) The term loan shall carry fixed rate of interest @ 14.17% iii) The term loan having a balance as on 31st March 2018 is Rs. 12,66,112/- and is repayable in 36 monthly installement of Rs. 1,10,929/-iv) The unsecurred loan is considered as long term in nature.
5	DEFERRED TAX LIABILITY (NET)
	Deferred Tax Liability
	Related to Fixed Assets	9,910,570	9,443,789
	Deferred Tax Assets
	Tax Impact on Unabsorbed Loss	-	-
	Deferred Tax Liability (Net)	9,910,570	9,443,789

6	LONG TERM PROVISIONS
	For Gratuity	2,626,077
		2,626,077	-

7	SHORT TERM BORROWINGS
	a) Secured Loan
	State Bank of India - Working Capital Loan	163,006,503	157,378,550
	Karnataka Bank - Working Capital Loan	193,874,414	170,878,510
	Karnataka Bank - Packing Credit Loan	-	2,763,870
		356,880,917	331,020,929
	b) Nature of security and repayment terms
	i) Hypothecation of stocks of raw materials, WIP, finished goods, spares of the company and book debts and personal gurantee of directors, ii) The loan shall be repayable on demand.
8	TRADE PAYABLES
	Trade Payables	375,152,223	353,015,169
		375,152,223	353,015,169

	According to the information available with the company there are no dues payable to Micro, Medium and small enterprises as defined under Micro, Small, and Medium Enterprises Development Act, 2006.
9	OTHER CURRENT LIABILITIES
	Sri Ganesh Ji Maharaj	11	11
	Current Maturities of Long Term Debt	1,266,112	1,331,148
	Statutory Dues Payable	17,766,555	1,971,064
	Other Liabilities
	For Capital Goods	299,437	596,652
	For Other Goods	2,784,083	7,127,374
	For Other Finance	45,792,719	22,779,579
	Advances from Customers	59,979,061	3,214,799
		127,887,978	37,020,626

NOTE '' 11 '' OF FIXED ASSETS ANNEXED TO AND FORMING PART OF STATEMENT OF ACCOUNT AS ON 31ST MARCH, 2018

Particulars	Land	Factory Shed & Building	Furniture & Fixture	Plant & Machinery	Electrical Installations	Laboratory Equipments	Air Conditioner	Computer	Mobile
GROSS BLOCK
As at 01/04/2016	8,351,247	68,945,691	955,097	185,004,650	25,249,937	1,422,820	959,030	1,115,367	_
Additions	11,128,818	_	_	1,609,410	_	371,925	168,400	235,375	_
Disposals	-	-	-	-	1,938,619	-	-	-	-
As at 31/03/2017	19,480,065	68,945,691	955,097	186,614,060	23,311,319	1,794,745	1,127,430	1,350,742	-
Additions	-	20,820,079	870,588	40,410,158	-	1,333,015	100,781	95,935	307,063
Disposals	-	-	-	-		-	-	-	-
As at 31/03/2018	19,480,065	89,765,770	1,825,685	227,024,218	23,311,319	3,127,760	1,228,211	1,446,677	307,063
DEPRECIATION
As at 01/04/2016	-	28,804,982	782,777	69,367,212	18,364,474	935,346	668,196	993,019	-
Charge for the year	-	3,795,932	54,691	13,275,929	1,981,814	215,138	162,813	175,552	-
Add Back	-	-	-	-	1,369,302	-	-	-	-
As at 31/03/2017	-	32,600,914	837,468	82,643,141	18,976,986	1,150,484	831,009	1,168,571	-
Charge for the year	-	4,907,179	50,086	15,122,204	1,252,960	307,434	124,931	95,581	58,240
Disposals	-	-	-	-		-	-	-	-
As at 31/03/2018	-	37,508,093	887,554	97,765,345	20,229,946	1,457,918	955,940	1,264,152	58,240
NET BLOCK
As at 31/03/2017	19,480,065	36,344,776	117,630	103,970,919	4,334,332	644,261	296,421	182,171	-
As at 31/03/2018	19,480,065	52,257,677	938,132	129,258,873	3,081,372	1,669,842	272,271	182,525	248,823
Capital Work-in-Progress
As at 01/04/2016	_	_	_	657,381	_	_	_	_	_
Additions	_	15,839,288	_	26,969,179	_	_	_	_	_
Disposals	-	-	-	-	-	-	-	-	-
As at 31/03/2017	-	15,839,288	-	27,626,560	-	-	-	-	-
Additions	_	4,980,791	_	16,503,121	_	_	_	_	_
Disposals	-	20,820,079	-	40,410,158	-	-	-	-	-
As at 31/03/2018	-	-	-	3,719,524	-	-	-	-	-

NOTE '' 11 '' OF FIXED ASSETS ANNEXED TO AND FORMING PART OF STATEMENT OF ACCOUNT AS ON 31ST MARCH, 2018

Particulars	Motor Car	Motorcycle	Fire Fighting	Pollution Control Eq.	Tools & Tackles	CCTV	Labour Rest Room	Office Building	Total
GROSS BLOCK
As at 01/04/2016	1,435,006	67,000	15,395	10,655,615	1,055,048	37,365	3,613,484	5,511,608	314,394,361
Additions	5,338,018	-	-	-	-	252,832	-	-	19,104,778
Disposals	-	-	-	-	-	-	-	-	1,938,619
As at 31/03/2017	6,773,024	67,000	15,395	10,655,615	1,055,048	290,197	3,613,484	5,511,608	331,560,520
Additions	-	-	-	-	-	64,134	-	-	64,001,753
Disposals	-	-	-	-	-	-	-	-	-
As at 31/03/2018	6,773,024	67,000	15,395	10,655,615	1,055,048	354,331	3,613,484	5,511,608	395,562,273
DEPRECIATION
As at 01/04/2016	1,289,624	57,251	14,625	6,283,721	629,845	35,359	674,881	1,454,829	130,356,142
Charge for the year	1,892,972	2,543	-	838,352	78,144	60,170	142,986	185,305	22,862,341
Add Back	-	-	-	-	-	-	-	-	1,369,302
As at 31/03/2017	3,182,596	59,794	14,625	7,122,073	707,989	95,529	817,867	1,640,134	151,849,181
Charge for the year	1,250,971	1,880	-	677,590	63,770	102,159	136,029	181,535	24,332,549
Disposals	-	-	-	-	-	-	-	-	-
As at 31/03/2018	4,433,567	61,674	14,625	7,799,663	771,759	197,688	953,896	1,821,669	176,181,730
NET BLOCK
As at 31/03/2017	3,590,428	7,206	770	3,533,542	347,059	194,668	2,795,617	3,871,474	179,711,339
As at 31/03/2018	2,339,457	5,326	770	2,855,952	283,289	156,643	2,659,588	3,689,939	219,380,543
Capital Work-in-Progress
As at 01/04/2016	-	-	-	-	-	-	-	-	657,381
Additions	-	-	-	-	-	-	-	-	42,808,467
Disposals	-	-	-	-	-	-	-	-	-
As at 31/03/2017	-	-	-	-	-	-	-	-	43,465,848
Additions	-	-	-	-	-	-	-	-	21,483,912
Disposals	-	-	-	-	-	-	-	-	61,230,237
As at 31/03/2018	-	-	-	-	-	-	-	-	3,719,524

			31-Mar-018		31-Mar-2017
10	SHORT TERM PROVISIONS
	For Income Tax		37,727,498		11,712,710
	For Gratuity		340,926		-
			38,068,424		11,712,710
12	NON-CURRENT INVESTMENTS
	a) Investment in Property Art & Painting		170,000
	Flat		7,047,445		7,047,445
	Office		6,082,732		6,082,732
			13,300,177		13,130,177
	b) Investment in Mutual Fund (Quoted)	No. of Units		No. of Units
	Baroda Pioneer ELSS'' 96	8254.230	200,000	8254.230	200,000
	SBI Duel Advance Fund - series XVI (G)	750000	7,500,000	750000	7,500,000
	SBI Duel Advance Fund - series XXIII (G)	1000000	10,000,000	-	-
			17,700,000		7,700,000
	c) Market Value of Quoted Mutual Fund		19,002,713		8,222,691
	d) Total (a b)		31,000,177		20,830,177
13	LONG TERM LOANS & ADVANCES
	(Unsecured & considered good) Security Deposits		170,246		170,246
			170,246		170,246
14	INVENTORIES
	(As Valued & Certified by the Management)
	Raw Materials (At Cost)		139,445,719		91,269,732
	Work in Progress		23,181,539		52,793,929
	Finished Goods (At Cost or Maket price whicever is lower)		68,470,128		53,965,074
	Scrap (At Realisable value)		1,105,682		716,930
	Stores & Spares		39,872,093		9,404,005
			272,075,160		208,149,670
15	TRADE RECEIVABLES
	( Unsecurred & Considered good ) More Than Six Months		91,240,695		100,517,051
	Others		631,353,951		443,437,732
			722,594,646		543,954,783
16	CASH & CASH EQUIVALENTS
	Cash on hand (As Certified by the Management)		6,067,135		7,714,971
	Balance with Schedule Bank		161,883		162,532
	FD with Bank (Incl. Int Accrued)		72,165,976		60,843,332
			78,394,994		68,720,835

17	SHORT TERM LOANS & ADVANCES
	(Recoverable in Cash or in kind, Unsecured, Considered Goods)
	Security Deposit		12,268,803		14,447,829
	Advance Tax & Duties		62,264,197		37,519,328
	Advances for Capital Goods		1,200,000		5,308,102
	Advances to Suppliers		7,212,414		35,732,901
	Advances to Others		1,928,440		6,883,807
			84,873,854		99,891,966

		31-Mar-2018	31-Mar-2017
18	OTHER CURRENT ASSETS Pre-Paid Expenses	300,098	130,000
		300,098	130,000
19	REVENUE FROM OPERATION
	a) Sale of Products (Wires)
	Gross Sales	2,951,158,355	2,232,475,973
	Less: Excise Duty & GST	396,757,074	189,995,986
		2,554,401,281	2,042,479,987
	b) Sales of Service Conversion Charges	357,113	11,399,943
		357,113	11,399,943
	c) Toatal (a b)	2,554,758,394	2,053,879,930
20	OTHER INCOME
	Export Incentive	3,642,690	2,631,559
	Exchange Flactuation	5,016,534	1,985,099
	Profit on Sale of Assets	-	311,664
	Interest Earned	12,754,370	10,309,512
	Dividend Income	26,826	20,636
	Other Income	2,732,694	1,725,050
21	COST OF MATERIAL CONSUMED	24,173,114	16,983,520
	Raw Material Consumed
	Opening Stock	91,269,732	92,382,542
	Add: Purchases	1,836,362,667	1,265,440,657
		1,927,632,399	1,357,823,199
	Less : Closing Stock	139,445,719	91,269,732
		1,788,186,681	1,266,553,467
22	CHANGES IN INVENTORY OF FINISHED GOODS WORK-IN-PROGRESS & STOCK-IN-TRADE
	Opening Stock
	- Finished Goods	54,682,004	27,606,569
	- Work In Progress	52,793,929	45,053,112
		107,475,933	72,659,681
	Less: Closing Stock
	- Finished Goods	69,575,810	54,682,004
	- Work In Progress	23,181,539	52,793,929
		92,757,349	107,475,933
23	EMPLOYEE BENEFITS EXPENSE	14,718,584	(34,816,251)
	Salary & Wages	57,151,388	28,139,902
	Staff Welfare	621,478	284,666
	Provision for Gratuity	2,967,003	-
		60,739,869	28,424,568
24	FINANCE COSTS
	Interest Expense
	on Term Loan	177,633	253,176
	on Cash Credit	29,592,653	26,327,475
	on Packing Credit	399,020	74,143
	on Loan	8,504,575	9,377,966
	Other Borrowing Costs	39,574,436	25,819,852
		78,248,317	61,852,611

		31-Mairch 18	31-March 2017
25	DEPRECIATION & AMORTISATION EXPENSES
	Depreciation	24,332,549	22,862,341
		24,332,549	22,862,341
26	OTHER EXPENSES
	Consumable Stores Consumed	31,000,203	49,026,166
	Repairs & Maintenance	21,797,285	12,662,710
	Factory Expenses	98,960	133,282
	Clearing & Forwarding Charges	1,493,615	918,363
	Custom Duty	177,247	10,030,046
	Power & Fuel Expenses	67,772,060	57,369,115
	Carriage Inward	33,805,631	27,419,948
	Conversion Charges	9,086,864	9,822,889
	Insurance Charges	429,230	270,099
	Security Charges	689,106	687,277
	Bank Comission & Charges	2,415,443	2,204,878
	Rent, Rates & Taxes	3,942,145	4,451,943
	Audit Fees
	- Statutory Audit	80,000	54,625
	- Tax Audit	30,000	28,750
	- VAT Audit	-	8,625
	Advertisement	1,230,463	991,546
	Accounting Charges	-	48,000
	Maintenance Charges	818,082	517,799
	Travelling & Conveyance	2,001,348	1,537,625
	Bad Debt	4,565,994	3,980,967
	Key Man Insurance Charges	1,866,480	-
	Car Expenses	647,182	487,567
	Director''s Remunerration	960,000	600,000
	Demat Charges	807	-
	Office Electricity Expenses	64,740	65,150
	Legal & Professional Charges	1,313,990	960,142
	Penalty	-	1,395,000
	Printing, Stationery & Postage	582,125	345,890
	Membership & Subscription	228,312	607,542
	General Expenses	348,080	275,585
	Computer Expenses	146,434	87,892
	LD Charges	926,509	10,696,215
	Telephone Charges	386,505	357,848
	Laboratory Testing Charges	563,339	1,004,190
	Return & ROC Filling Fee	805,200	2,950
	Carriage Outward	22,015,093	4,141,695
	Sales Promotion	449,983	-
	Brokerage & Commission	2,077,778	814,144
	Quality Discount & Rebate	88,467	-
	Repair & Maintenance-Office	936,100	196,107
		215,840,799	204,202,570
27	EARNING PER SHARE
	Profit After Tax (PAT)	50,798,530	23,184,062
	No. of Equity Shares	12940000	6470000
	Earning Per Share (EPS)	3.93	3.58
28	CONTIGENT LIABILITY	(Rs. In Lakhs)	(Rs. In Lakhs)
	Liability not accounted as debts:-
	Gurantee given by bank on behalf of company	1,851.13	256.26

29 RELATED PARTY DISCLOSURE

Related Party disclosure as identified by the management in accordance with the AS - 18 are as follows:

i) List of the Related Party where control exists and related parties with whom transcation have taken place and relationship:

a) Associates

Gunnayak Commercial Pvt. Ltd.

b) Key Managerial Personnel

1) Sri Naresh Kumar Agarwal

2) Sri Sanjeev Kumar Binani

3) Sri Hanuman Prasad Agarwal (w.e.f. 06th March'' 2018)

4) Sri Ankush Agarwal (w.e.f. 06th March1 2018)

5) Sri Mahesh Kumar Sharma (Company Secretary)

c) Enterprises owned or signif icantlty influenced by Key Managerial Person and their Relative (others) Alltime Suppliers Pvt. Ltd.

Classic Electrodes (I) Ltd.

Jai Hanuman Industrial Co

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