Accounting Policies of Pashupati Cotspin Ltd. Company

Mar 31, 2025

A) MATERIAL ACCOUNTING POLICIES INFORMATION

I. Information:

Pashupati Cotspin Ltd is a listed company incorporated
in India. The Company is engaged in Cotton Ginning and
manufacture, processing of yarn.

II. Basis of Preparation:

The financial statements of the company have been prepared
in accordance with the Generally Accepted Accounting
Principles in India (Indian GAAP). The company has
prepared these financial statements to comply in all material
respects. The financial statements have been prepared on
accrual basis and under the historical cost convention. The
accounting policies adopted in preparation of financial
statements are consistent with those of previous year.

III. Use of Estimates:

The presentation of financial statements in conformity with
the GAAP requires estimates and assumptions to be made
that affect the reported amount of assets and liabilities
on the date of the financial statements and the reported
amount of revenues and expenses during the reporting
period. Difference between the actual result and estimates
is recognized in the period in which the results are known
/ materialized.

IV. Property Plant & Equipments:

Property Plant & Equipments are stated at Cost or at
Revalued Amount, net of GST Credit less Accumulated
Depreciation. All costs including financing costs till
commencement of commercial production and Exchange
rate variations relating to the Borrowing are capitalized /
adjusted to the Property Plant & Equipments.

V. Depreciation:

i. Depreciation on Property Plant & Equipments is
provided on the Straight Line Method (SLM) Method
on the basis of Useful Life prescribed in Schedule II to
the Companies Act, 2013.

ii. Depreciation on additions to the Property Plant
& Equipment and the assets sold or disposed off,
during the year is provided on pro-rata basis, at
their respective rates with reference to the date of
acquisition/installation or date of sale/disposal.

VI. Inventories:

(Inventories were taken as valued & certified by the partners.)

a) Raw Material - At lower of Cost or Net Realizable Value.

b) Stock in Progress - At lower of Cost or Net
Realizable Value.

c) Finished Goods - At lower of Cost or Net
Realizable Value.

d) Stores, Spares, Lubricants - At lower of Cost or Net
Realizable Value.

e) Material In Transit - At Cost

f) Waste (Cotton and Yarn) - At Net Realizable value

VII. Foreign Currency Transactions:

(a) Foreign currency transactions are accounted for
at the exchange rate prevailing on the date of the
transaction. All monetary foreign currency assets
and liabilities are converted at the exchange rates
prevailing on the date of the balance sheet. All
exchange differences other than those relating
to the acquisition of Property Plant & Equipments
from outside India are dealt with in the statement
of profit and loss. Exchange gain or loss relating to
Property Plant & Equipments acquired from outside
India is adjusted in the cost of respective Property
Plant & Equipments.

(b) In case of forward contracts, the gain / loss on contracts
are treated as periodical expense or revenue. Any
profit or loss arising on the cancellation or renewal of
a forward exchange contract is recognized as income
or expense for the year, except in case of a forward
exchange contract relating to liabilities incurred for
acquiring Property Plant & Equipments from outside
India, in which case, such profit or loss is adjusted in
the cost of Property Plant & Equipments.

(c) Exchange difference is calculated as the difference
between the foreign currency amount of the
contract translated at the exchange rate at the
reporting date, or the settlement date where the
transaction is settled during the reporting period,
and the corresponding foreign currency amount
translated at the later of the date of inception of the
forward exchange contract and the last reporting
date. Such exchange differences are recognized
in the statement of profit and loss in the reporting
period in which the exchange rates change.

VIII. Retirement Benefits:

(a) The company has made provision of Gratuity liability
of employees on basis of actuarial valuation report.

(b) Leave encashment has been charged to the Revenue
Account on the basis of policy of the company.

(c) The company contribution to Provident Fund is
charged to Revenue Account.

IX. Borrowing Cost:

Borrowing costs that are attributable to the acquisition
or construction of qualifying assets are capitalized as
part of the cost of such assets. A qualifying asset is one
that necessarily takes substantial period of time to get

ready for its intended use. All other borrowing costs are
charged to revenue.

X. Revenue Recognition:

Income and Expenditure are recognized and accounted
on Accrual Basis. Revenue from Sale of goods is recognized
on delivery of the goods, when all significant contractual
obligations have been satisfied, the property in the goods
is transferred for a price, significant risks and rewards of
ownership are transferred to customers & no effective
ownership is retained However;

a) Revenue in respect of insurance/other claims etc. is
recognized only when it is reasonably certain that the
ultimate collection will be made.

b) Dividend income is recognized when the right to
receive is established.

c) Interest income is recognized on a time proportion
basis taking into account the amount outstanding
and the applicable rate of interest.

d) Interest received on delayed payment is accounted
on receipt basis.

e) Lease Rent Income is recognized on accrual basis as
per the terms of the Agreement.

f) All benefits, claims, entitlements etc. under TUF
subsidy, Goods & Service Tax, Electricity, Government
Textile Policy Benefits are recognized as per the terms
of the scheme and on accrual basis.

XI. Segment Accounting:

The company manufactures and deals in single product i.e.
Cotton Yarn only and therefore, Accounting Standard 17 on
Segment Reporting is not applicable.

XII. Investments:

Long Term Investments are carried at cost. Temporary
diminution in value of such investments, if any, is ignored.

---

Mar 31, 2024

A) MATERIAL ACCOUNTING POLICIES

I. Information:

Pashupati Cotspin Ltd is a listed company incorporated in India. The Company is engaged in Cotton Ginning and manufacture, processing of yarn.

II. Basis of Preparation:

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects. The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting policies adopted in preparation of financial statements are consistent with those of previous year.

III. Use of Estimates:

The presentation of financial statements in conformity with the GAAP requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual result and estimates is recognized in the period in which the results are known / materialized.

IV. Property Plant &Equipments:

Property Plant & Equipment are stated at Cost or at Revalued Amount, net of GST Credit less Accumulated Depreciation. All costs including financing costs till commencement of commercial production and Exchange rate variations relating to the Borrowing are capitalized / adjusted to the Property Plant & Equipment.

V. Depreciation:

i. Depreciation on Property Plant &Equipment is provided on the Straight Line Method (SLM) Method on the basis of Useful Life prescribed in Schedule II to the Companies Act, 2013

ii. Depreciation on additions to the Property Plant & Equipment and the assets sold or disposed off, during the year is provided on pro-rata basis, at their respective rates with reference to the date of acquisition/installation or date of sale/disposal.

VI. Inventories:

(Inventories were taken as valued & certified by the partners.)

a) Raw Material - At lower of Cost or Net Realizable Value.

b) Stock in Progress - At lower of Cost or Net Realizable Value.

c) Finished Goods - At lower of Cost or Net Realizable Value.

d) Stores, Spares, Lubricants - At lower of Cost or Net Realizable Value.

e) Material In Transit - At Cost

f) Waste (Cotton and Yarn) - At Net Realizable value

VII. Foreign Currency Transactions:

(a) Foreign currency transactions are accounted for at the exchange rate prevailing on the date of the transaction. All monetary foreign currency assets and liabilities are converted at the exchange rates prevailing on the date of the balance sheet. All exchange differences other than those relating to the acquisition of Property Plant &Equipments from outside India are dealt with in the statement of profit and loss. Exchange gain or loss relating to Property Plant &Equipments acquired from outside India is adjusted in the cost of respective Property Plant &Equipments.

(b) In case of forward contracts, the gain / loss on contracts are treated as periodical expense or revenue. Any profit or loss arising on the cancellation or renewal of a forward exchange contract is recognized as income or expense for the year, except in case of a forward exchange contract relating to liabilities incurred for acquiring Property Plant & Equipments from outside India, in which case, such profit or loss is adjusted in the cost of Property Plant & Equipments.

(c) Exchange difference is calculated as the difference between the foreign currency amount of the contract translated at the exchange rate at the reporting date, or the settlement date where the transaction is settled during the reporting period, and the corresponding foreign currency amount translated at the later of the date of inception of the forward exchange contract and the last reporting date. Such exchange differences are recognized in the statement of profit and loss in the reporting period in which the exchange rates change.

VIII. Retirement Benefits:

(a) The company has made provision of Gratuity liability of employees on basis of actuarial valuation report.

(b) Leave encashment has been charged to the Revenue Account on the basis of policy of the company.

(c) The company contribution to Provident Fund is charged to Revenue Account.

IX. Borrowing Cost:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get

ready for its intended use. All other borrowing costs are charged to revenue.

X. Revenue Recognition:

Income and Expenditure are recognized and accounted on Accrual Basis. Revenue from Sale of goods is recognized on delivery of the goods, when all significant contractual obligations have been satisfied, the property in the goods is transferred for a price, significant risks and rewards of ownership are transferred to customers & no effective ownership is retained However;;

a) Revenue in respect of insurance/other claims etc. is recognized only when it is reasonably certain that the ultimate collection will be made.

b) Dividend income is recognized when the right to receive is established.

c) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable rate of interest.

d) Interest received on delayed payment is accounted on receipt basis.

e) Lease Rent Income is recognized on accrual basis as per the terms of the Agreement.

f) All benefits, claims, entitlements etc. under TUF subsidy, Goods & Service Tax, Electricity, Government Textile Policy Benefits are recognized as per the terms of the scheme and on accrual basis.

XI. Segment Accounting:

The company manufactures and deals in single product i.e. Cotton Yarn only and therefore, Accounting Standard 17 on Segment Reporting is not applicable.

XII. Investments:

Long Term Investments are carried at cost. Temporary diminution in value of such investments, if any, is ignored.

---

Mar 31, 2023

A) SIGNIFICANT ACCOUNTING POLICIES

I. Information:

Pashupati Cotspin Ltd is a listed company incorporated in India. The Company is engaged in Cotton Ginning and manufacture, processing of yarn.

II. Basis of Preparation:

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects. The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting policies adopted in preparation of financial statements are consistent with those of previous year.

III. Use of Estimates:

The presentation of financial statements in conformity with the GAAP requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual result and estimates is recognized in the period in which the results are known / materialized.

IV. Property Plant &Equipments:

Property Plant &Equipments are stated at Cost or at Revalued Amount, net of GST Credit less Accumulated Depreciation. All costs including financing costs till commencement of commercial production and Exchange rate variations relating to the Borrowing are capitalized / adjusted to the Property Plant &Equipments.

V. Depreciation:

i. Depreciation on Property Plant &Equipments is provided on the Straight Line Method (SLM) Method on the basis of Useful Life prescribed in Schedule II to the Companies Act, 2013

ii. Depreciation on additions to the Property Plant & Equipment and the assets sold or disposed off, during the year is provided on pro-rata basis, at their respective rates with reference to the date of acquisition/installation or date of sale/disposal.

VI. Inventories:

(Inventories were taken as valued & certified by the partners.)

a) Raw Material - At lower of Cost or Net Realizable Value.

b) Stock in Progress - At lower of Cost or Net Realizable Value.

c) Finished Goods - At lower of Cost or Net Realizable Value.

d) Stores, Spares, Lubricants - At lower of Cost or Net Realizable Value.

e) Material In Transit - At Cost

f) Waste (Cotton and Yarn) - At Net Realizable value

VII. Foreign Currency Transactions:

(a) Foreign currency transactions are accounted for at the exchange rate prevailing on the date of the transaction. All monetary foreign currency assets and liabilities are converted at the exchange rates prevailing on the date of the balance sheet. All exchange differences other than those relating to the acquisition of Property Plant &Equipments from outside India are dealt with in the statement of profit and loss. Exchange gain or loss relating to Property Plant &Equipments acquired from outside India is adjusted in the cost of respective Property Plant &Equipments.

(b) In case of forward contracts, the gain / loss on contracts are treated as periodical expense or revenue. Any profit or loss arising on the cancellation or renewal of a forward exchange contract is recognized as income or expense for the year, except in case of a forward exchange contract relating to liabilities incurred for acquiring Property Plant &Equipments from outside India, in which case, such profit or loss is adjusted in the cost of Property Plant &Equipments.

(c) Exchange difference is calculated as the difference between the foreign currency amount of the contract translated at the exchange rate at the reporting date, or the settlement date where the transaction is settled during the reporting period, and the corresponding foreign currency amount translated at the later of the date of inception of the forward exchange contract and the last reporting date. Such exchange differences are recognized in the statement of profit and loss in the reporting period in which the exchange rates change.

VIII. Retirement Benefits:

(a) The company has made provision of Gratuity liability of employees on basis of actuarial valuation report.

(b) Leave encashment has been charged to the Revenue Account on the basis of policy of the company.

(c) The company contribution to Provident Fund is charged to Revenue Account.

IX. Borrowing Cost:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get

ready for its intended use. All other borrowing costs are charged to revenue.

X. Revenue Recognition:

Income and Expenditure are recognized and accounted on Accrual Basis. Revenue from Sale of goods is recognized on delivery of the goods, when all significant contractual obligations have been satisfied, the property in the goods is transferred for a price, significant risks and rewards of ownership are transferred to customers & no effective ownership is retained However;

a) Revenue in respect of insurance/other claims etc. is recognized only when it is reasonably certain that the ultimate collection will be made.

b) Dividend income is recognized when the right to receive is established.

c) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable rate of interest.

d) Interest received on delayed payment is accounted on receipt basis.

e) Lease Rent Income is recognized on accrual basis as per the terms of the Agreement.

f) All benefits, claims, entitlements etc. under TUF subsidy, Goods & Service Tax, Electricity, Government Textile Policy Benefits are recognized as per the terms of the scheme and on accrual basis.

XI. Segment Accounting:

The company manufactures and deals in single product i.e. Cotton Yarn only and therefore, Accounting Standard 17 on Segment Reporting is not applicable.

XII. Investments:

Long Term Investments are carried at cost. Temporary diminution in value of such investments, if any, is ignored.

XIII. Provisions and contingencies:

A provision is recognized when the company has a legal and constructive obligation as a result of a past event, for which it is probable that cash outflow will be required and a reliable estimate can be made of the amount of the obligation. A contingent liability is disclosed when the Company has a probable obligation where it is not probable that an outflow of resources will be required to settle it. Contingent assets are neither recognized nor disclosed.

XIV. Taxation:

(a) Direct Taxes:

Tax expense for the year, comprising Current Tax if any and Deferred Tax are included in determining the net profit for the year.

A provision is made for deferred tax for all timing differences arising between taxable incomes and accounting income at currently enacted tax rates.

Deferred tax assets are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.

(b) Indirect Taxes:

The liabilities are provided or considered as contingent depending upon the merit of each case and/or receiving the actual demand from the department.

XV. Impairment Loss:

Impairment Loss, if any, is provided to the extent the carrying amount of assets exceed their recoverable amounts. Recoverable amount is that which is higher of an asset''s net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of the assets and from its disposal at the end of its useful life. Net Selling Price is the amount obtainable from sale of the asset on arm''s length basis between knowledgeable and willing parties less the cost of disposal.

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Mar 31, 2018

NOTE : 1 - SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS:-A) SIGNIFICANT ACCOUNTING POLICIES:

(1) Information:

Pashupati Cotspin Ltd is a listed company incorporated in India. The Company is engaged in Cotton Ginning and manufacture, processing of yarn.

(2) Basis of Preparation:

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects. The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting policies adopted in preparation of financial statements are consistent with those of previous year.

(3) Use of Estimates:

The presentation of financial statements in conformity with the GAAP requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual result and estimates is recognized in the period in which the results are known / materialized.

(4) Fixed Assets:

Fixed Assets are stated at Cost or at Revalued Amount, net of CENVAT / VAT /GST Credit less Accumulated Depreciation. All costs including financing costs till commencement of commercial production and Exchange rate variations relating to the Borrowing are capitalized / adjusted to the fixed assets.

(5) Depreciation:

i. Depreciation on fixed assets is provided on the Straight Line Method (SLM) Method on the basis of Useful Life prescribed in Schedule II to the Companies Act, 2013

ii. Depreciation on additions to the assets and the assets sold or disposed off, during the year is provided on pro-rata basis, at their respective rates with reference to the date of acquisition / installation or date of sale/disposal.

(6) Inventories:

(Inventories were taken as valued & certified by the partners.)

a) Raw Material - At lower of Cost or Net Realizable Value.

b) Stock in Process - At lower of Cost or Net Realizable Value.

c) Finished Goods - At lower of Cost or Net Realizable Value.

d) Stores, Spares, Lubricants - At lower of Cost or Net Realizable Value.

e) Material In Transit - At Cost

f) Waste (Cotton and Yarn) - At Net Realizable value

(7) Foreign Currency Transactions:

(a) Foreign currency transactions are accounted for at the exchange rate prevailing on the date of the transaction. All monetary foreign currency assets and liabilities are converted at the exchange rates prevailing on the date of the balance sheet. All exchange differences other than those relating to the acquisition of fixed assets from outside India are dealt with in the statement of profit and loss. Exchange gain or loss relating to fixed assets acquired from outside India is adjusted in the cost of respective fixed assets.

(b) In case of forward contracts, the gain / loss on contracts are treated as periodical expense or revenue. Any profit or loss arising on the cancellation or renewal of a forward exchange contract is recognized as income or expense for the year, except in case of a forward exchange contract relating to liabilities incurred for acquiring fixed assets from outside India, in which case, such profit or loss is adjusted in the cost of fixed assets.

(c) Exchange difference is calculated as the difference between the foreign currency amount of the contract translated at the exchange rate at the reporting date, or the settlement date where the transaction is settled during the reporting period, and the corresponding foreign currency amount translated at the later of the date of inception of the forward exchange contract and the last reporting date. Such exchange differences are recognized in the statement of profit and loss in the reporting period in which the exchange rates change.

(8) Retirement Benefits:

(a) The company has made provision of Gratuity liability of employees on basis of actuarial valuation report.

(b) Leave encashment has been charged to the Revenue Account on the basis of policy of the company.

(c) The company contribution to Provident Fund is charged to Revenue Account.

(9) Borrowing Cost:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to revenue.

(10) Revenue Recognition:

Income and Expenditure are recognized and accounted on Accrual Basis. Revenue from Sale of goods is recognized on delivery of the goods, when all significant contractual obligations have been satisfied, the property in the goods is transferred for a price, significant risks and rewards of ownership are transferred to customers & no effective ownership is retained However;

a) Revenue in respect of insurance/other claims etc is recognized only when it is reasonably certain that the ultimate collection will be made.

b) Dividend income is recognized when the right to receive is established.

c) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable rate of interest.

d) Interest received on delayed payment is accounted on receipt basis.

e) Lease Rent Income is recognized on accrual basis as per the terms of the Agreement.

f) All benefits, claims, entitlements etc. under TUF subsidy, VAT, Electricity, Government Textile Policy Benefits are recognized as per the terms of the scheme and on accrual basis.

(11) Segment Accounting:

The company manufactures and deals in single product i.e. Cotton Yarn only and therefore, Accounting Standard 17 on Segment Reporting is not applicable.

(12) Investments:

Long Term Investments are carried at cost. Temporary diminution in value of such investments, if any, is ignored.

(13) Provisions and contingencies:

A provision is recognized when the company has a legal and constructive obligation as a result of a past event, for which it is probable that cash outflow will be required and a reliable estimate can be made of the amount of the obligation. A contingent liability is disclosed when the Company has a probable obligation where it is not probable that an outflow of resources will be required to settle it. Contingent assets are neither recognized nor disclosed.

(14) Taxation:

(a) Direct Taxes :

Tax expense for the year, comprising Current Tax if any and Deferred Tax are included in determining the net profit for the year.

A provision is made for deferred tax for all timing differences arising between taxable incomes and accounting income at currently enacted tax rates.

Deferred tax assets are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.

(b) Indirect Taxes:

The liabilities are provided or considered as contingent depending upon the merit of each case and/ or receiving the actual demand from the department.

(15) Impairment Loss:

Impairment Loss, if any, is provided to the extent the carrying amounts of assets exceed their recoverable amounts. Recoverable amount is that which is higher of an asset''s net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of the assets and from its disposal at the end of its useful life. Net Selling Price is the amount obtainable from sale of the asset on arms length basis between knowledgeable and willing parties less the cost of disposal.

B) NOTES ON ACCOUNTS:

1. Contingent Liabilities:

a) Income Tax Demands for A.Y. 2014-15 of Rs 54,44,720. (P.Y. NIL/-) against which Company has preferred appeals before appropriate authorities.

b) Bank guarantees amounting to Rs. 3,93,02,964/-in favor of DGFT& Customs Rs.2,41,12,137/- in favor of Uttar Gujarat Vij Company Limited.

c) Export Obligation for duty saved amount of Rs. 21,00,18,268/-

2. In terms of Accounting Standard 28 - Impairment of Assets issued by ICAI the Management has reviewed its fixed assets and the difference between the carrying amount and recoverable value of relevant assets was not material. Hence, provision for impairment loss is not considered necessary to be made in the books.

3. In respect of the loss & Unabsorbed Depreciation incurred by the Company for the current year, deferred tax asset is recognized in the books, since the company has certainty that they will be realized in the near future.

4. The company has not received information from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amount unpaid as at the balance sheet date together with interest payable, if any, under this Act have not been given.

5. Earlier the Company was formed as "Pashupati Cotspin LLP". and was functioning and carrying out its business activities in LLP and all the interest in the LLP have vested to the Company by virtue of the conversion of LLP into Limited Company under Part I Chapter XXI of Section 366 of Companies Act, 2013.Therefore Previous year figures strictly not comparable.

6. The depreciation hitherto was provided by LLP as per WDV Method and rates provided under Income Tax Act. On conversion into Public Limited Company, the Company has calculated depreciation on Straight Line method as per the rates derived on the basis of useful life of the assets as provided in Schedule II of the Companies Act, 2013 and the Company has recalculated Depreciation from the beginning i.e. from the date of put to use and the difference being excess Depreciation of Rs. 883.14 lacs (Net of Deferred Tax) provided in earlier years have been transferred to Retained earnings and the respective depreciation Fund has been restated

7. Reversal of restated deferred tax assets of Rs 741.32 Lacs during the current period are pertaining to set off of the Current profits against carried forward business losses and unabsorbed depreciation as per Income Tax Act.

8. Earnings Per Share:

Particular	2017-18	2016-17
Net profit attributable to Shareholders	-63,62,977	22,69,08,817
Weighted average number of equity shares	1,02,84,000	N.A.
Basic earnings per share of Rs.10/- each (in Rs)	(0.69)	-

9. RELATED PARTY DISCLOSURE:

A. LIST OF RELATED PARTIES AND RELATIONSHIP:

Related Entities & Persons with whom the company has entered into transactions during the year:

Mr. Mitesh Parikh

Mrs. Renuka Parikh

Mrs. Hariprabha Parikh

Mrs. Falguni Parikh

M/s Pashupati Cotton Industries

M/s Shree Pashupati Fabric LLP

M/s Pashupati Oil Industries

M/s S.Raja Export Pvt Ltd

M/S Pashuoati Aaro Green Industries

B. KEY MANAGERIAL PERSONNEL / PARTNERS:

Saurin J. Parikh	Chairman & Managing Director
Tushar R Trivedi	Whole time Director
Dakshesh J. Patel	Director

C. RELATED PARTIES TRANSACTIONS (RS.):

Transactions	Associates / Related Party	Enterprises owned or Significantly influenced by Key Managerial Personnel	Key Managerial Personnel	Closing Balance
Purchase of Goods/Property	4,01,46,131	NIL	NIL	NIL
Sale of Goods	1,32,72,42,211	NIL	NIL	NIL
For Various Expenses	86,24,150	NIL	NIL	NIL
Interest Income	NIL	NIL	NIL	NIL
Loan Received	1,65,09,24,660	NIL	75,00,000	6,07,35,077
Loan Repaid	45,29,11,487	NIL	1,51,84,600	NIL
Interest Expenses	1,21,19,126	NIL	24,00,256	NIL
Remuneration	NIL	NIL	1,80,000	NIL
Rent	16,37,625	NIL	NIL	NIL

10. Disclosure pursuant to Accounting Standard - 15 [Revised] ''Employee Benefits:

A. The Company has, with effect from 1st April, 2007, adopted Accounting Standard 15, Employee Benefits [Revised 2005] [the ''Revised AS 15'']. In accordance with the transitional provisions governing gratuity valuation - defined benefit plan - long term liability based on actuarial valuation is as follows:

B. The Amount (in Rs.) as certified by the Approved Value is as under:

Period	From: 1/4/2017 To 31/3/201 8	From: 1/4/2016 To: 31/3/2017
Present value of the obligation at the beginning of the period	23,33,148	12,30,224
Interest cost	1,63,320	92,267
Current service cost	12,13,594	11,73,291
Past Service Cost	0	0
Benefits paid (if any)	0	0
Actuarial (gain)/loss	(1,31,523)	(1,62,634)
Present value of the obligation at the end of the period	35,78,539	23,33,148

Key results (The amount to be recognized in the Balance Sheet):

Period	As on: 31/3/2018	As on: 31/3/2017
Present value of the obligation at the end of the period	1,65,99,578	1,14,87,646
Fair value of plan assets at end of period	1, 18,72,952	71,63,630
Net liability/(asset) recognized in Balance Sheet and related analysis	47,26,626	43,24,016
Funded Status	(47,26,626)	(43,24,016)