Notes to Accounts of Markolines Pavement Technologies Ltd.

Mar 31, 2025

(j) Provisions and Contingent Liabilities: A provision is recognized when the company has a present obligation
as a result of past event; it is probable that an outflow of resources will be required to settle the obligation,
in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and
are determined based on best estimate required to settle the obligation at the balance sheet date. These are
reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither
recognized nor disclosed in the financial statements.

Contingent liability:

Bank Guarantee

- Financial Bank Guarantee- Rs. 17.58 crores

- Performance Bank Guarantee- Rs. 24.18 crores

[l) Current Assets, Loans & Advances: In the opinion of the Board and to the best of its knowledge and
belief the value on realization of current assets in the ordinary course of business would not be less than the
amount at which they are stated in the Balance Sheet and repayable on demand. Trade Receivables as on
March 31, 2023 has been taken as certified by the management of the company and is subjected to balance
confirmations. As per the view of the management of the company there is no doubtful debt and hence
provision for doubtful debts has not been made.

[m) Earning and Expenditure in Foreign currency
(n) Related Party Transactions:

Notes to Financial Statements for the year ended March 31, 2025
Related Party Transactions:

(a) Relationship :

Directors : Mr Sanjay Patil

Mrs. Kirtinandini Patil

Mr Karan Bora (Resigned on 07-01-2025)

Mr. Praveen Panchal (w.e.f. 07-01-2025)

Key Management Personnel : Mr Sanjay Patil

Mr Vijay Oswal (Chief Financial Officer)

Mr. Pranav Chaware (Company Secretary)

Key Management Personnel''s Relatives: Mrs. Safala Oswal

Group Companies: Markolines Infra Limited

Markolines Technologies Private Limited
Unique UHPC Markolines LLP (Associate)
Markolines - Evrascon JV

Notes on ratio:

1. Current Ratio increased by 32% in F.Y. 2024-25 as compared to F.Y. 2023-24 due to increase in current assets during the year.

2. Debt-Equity Ratio decreased by 38.21% in F.Y. 2024-25 as compared to F.Y. 2023-24 due to increase in Equity during the year.

3. Return on Equity Ratio decreased by 27.05% in F.Y. 2024-25 as compared to F.Y. 2023-24 due to increase in average share
holders equity during the year.

4. Inventory Turnover Ratio increased by 77.54% in F.Y. 2024-25 as compared to F.Y. 2023-24 due to decrease in Average
Inventory during the year.

5. Return on Investment decreased by 27.50% in F.Y. 2024-25 as compared to F.Y. 2023-24 due to increase in Net Return on
Investment & value of investment during the year.

NOTE 2.1.(p).

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings"

NOTE 2.1.(q). DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956 during the financial year.

The Company has reported segment information as per Accounting Standard 17 "Operating Segments" (AS 17). The identification
of operating segments is consistent with performance assessment and resource allocation by the Chief Operating Decision Maker.

Place : Mumbai

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Mar 31, 2024

(j) Provisions and Contingent Liabilities

A provision is recognized when the company has a present obligation as a result of past event; it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

Contingent liability

Bank Guarantee

• Financial Bank Guarantee- Rs. 30.22 crores

• Performance Bank Guarantee- Rs. 14.52 crores

Income Tax Demand:

• A.Y. 2010-11 Rs. 3.98 lakhs

• A.Y. 2018-19 Rs 16.59 lakhs

• A.Y. 2019-20 Rs 6.58 lakhs

• A.Y. 2020-21 Rs 0.97 lakhs

• A.Y. 2021-22 Rs. 0.98 lakhs

• A.Y.2022-23 Rs 14.48 lakhs

GST Demand:

• F.Y. 2018-19 to 2021-22- Telengana State- Rs 65.29 lakhs

• F.Y. 2018-19 Uttar Pradesh State- Rs 5.06 lakhs

• F.Y. 2021-22 Uttar Pradesh State- Rs 36.75 lakhs

• F.Y. 2018-19 Tamil Nadu State- Rs 11.91 lakhs

• F.Y. 2018-19 Gujarat State- Rs 0.29 lakhs

Service Tax Demand:

• F.Y. 2015-16 Rs. 389.55 lacs

• F.Y. 2016-17 Rs. 430.38 lacs

• F.Y. 2017-18 Rs. 218.50 lacs (upto June 17)

The above demand is in appeal with CESTAT

Authority.

(k) Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

(l) Current Assets, Loans & Advances

In the opinion of the Board and to the best of its knowledge and belief the value on realization of current assets in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and repayable on demand. Trade Receivables as on March 31, 2023 has been taken as certified by the management of the company and is subjected to balance confirmations. As per the view of the management of the company there is no doubtful debt and hence provision for doubtful debts has not been made.

(n) Related Party Transactions

Notes to Financial Statements for the year ended March 31, 2024

Related Party Transactions:

(A) Relationship :

Key Management Personnel- Mr Sanjay Patil

Mr Vijay Oswal Mr Karan Bora

Key Management Personnel''s Relatives: Safala Oswal

Group Companies:

Markolines Infra Private Limited Markolines Technologies Private Limited Unique UHPC Markolines LLP (Associate)

AS PER OUR REPORT OF EVEN DATE ATTACHED MARKOLINES PAVEMENT TECHNOLOGIES LIMITED

For Jay Gupta & Associates Sd/- Sd/-

(Erstwhile Gupta Agarwal & Associates) SANJAY BHANUDAS PATIL KARAN ATUL BORA

Chartered Accountants MANAGING DIRECTOR DIRECTOR

Firm''s Registration No: 329001E DIN: 00229052 DIN: 08244316

Sd/-

Sd/- VIJAY RATANCHAND OSWAL

Jay Shanker Gupta CFO

Partner

Membership No: 059535

UDIN: 24059535BKBJAO2554 _{Date: May 30}, ₂₀₂₄

^{Date: 30th May 2024} Place: Navi Mumbai

Place: Kolkata

Notes on ratio:

1. Debt-Equity Ratio increased by 62.15% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Debt during the year.

2. Inventory Turnover Ratio increased by 180.95% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in COGS during the year.

3. Trade Payable Turnover Ratio increased by 32.01% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Net Purchase during the year.

4. Return on Investment increased by 114.66% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Net Return on Investment during the year.

NOTE 2.1.(p).

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

NOTE 2.1.(q). DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

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Mar 31, 2023

NOTE 2.1.(o).

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder ” c) Registration of charges or satisfaction with Registrar of Companies

”d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings”

NOTE 2.1.(p). DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

d. Terms / Rights attached to equity shares

Ordinary Equity shares :

Each holder of equity share is entitled to one vote irrespective of number of shares held. In event of liquidation of company the holder of equity shares would be entitled to receive remaining assets of the company after distribution of all preferential amounts.

Notes:

During the F.Y. 2021-22, the company issued 13105800 fully paid equity shares of Rs. 10/- each as Bonus shares to its existing shareholders in ratio of 1:15 (15 fully paid equity shares of Rs. 10/- each against One equity shares of Rs. 10/- each) vide its resoluation passed at EGM dated 17.08.2021 and allotted on 26.08.2021

Further during the F.Y. 2021-22, the company issued 51,28,000 fully paid equity shares of Rs. 10/- each at a permium of Rs. 68/- per share through Initial Public Offering and allotted on 23.09.2021