Notes to Accounts of Worldwide Aluminium Ltd.

Mar 31, 2025

15 Provisions & contingent liabilities

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will
be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example,
under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the
statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent liability arises when the Company has:

a) a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the entity; or

b) a present obligation that arises from past events but is not recognised because:

(i) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or

(ii) the amount of the obligation cannot be measured with sufficient reliability.

Contingent liabilities are not recorded in the financial statement but, rather, are disclosed in the note to the financial statements.

16 Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet where 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 assets and settle the liabilities simultaneously.

17 Trade receivables

Trade receivables are recognised when the right to consideration becomes unconditional. These assets are held at amortised cost, using the effective interest rate (EIR) method where applicable,
less provision for impairment based on expected credit loss.

18 Trade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid. Trade and other payables are presented as current liabilities
unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortised cost using the EIR method.

19 Inventories

Inventories are stated at cost or net realisable value whichever is lower. Cost is determined on FIFO basis. Scrap is valued at net realizable value
Net realizable value is the estimated selling price in the ordinary course of business

20 Borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of
transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities
are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs.

Borrowings are removed from the Balance Sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability
that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss as other
income | (expense).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

21 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

Critical estimates and judgements

Preparation of the Financial Statements requires use of accounting estimates, judgements and assumptions, which, by definition, will seldom equal the actual results. Appropriate changes in
estimates are made as the Management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the Financial Statements in the period in
which changes are made and, if material, their effects are disclosed in the notes to the Financial Statements. This Note provides an overview of the areas that involves a higher degree of
judgements or complexity and of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed
information about each of these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the Financial
Statements.

The areas involving critical estimates or judgements are:

i) Estimation for income tax: Note 3 (A)(12)

ii) Estimation of useful life of tangible assets: Note 3 (A)(4)

iii) Estimation of provision for inventories: Note 3 (A)(19)

iv) Allowance for credit losses on trade receivables: Note 3 (A)(17)

v) Estimation of claims | liabilities: Note 3 (A)(10)
vii) Fair value measurements: Note 32

(B) Key accounting estimates

1 Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value are
measured using valuation techniques. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is
required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions relating to these
factors could affect the reported fair value of financial instruments.

2 Taxes

Deferred tax assets are recognised for unused tax credits to the extent that it is probable that taxable profit will be available against which the losses can be utilised.

Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future
taxable profits together with future tax planning strategies.

3 Defined benefit plan

The cost of the defined benefit plans and other post-employment benefits and the present value of the obligation are determined using actuarial valuations. An actuarial
valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary
increases, mortality rates and future pension increases. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

The parameter that is subject to change the most is the discount rate. In determining the appropriate discount rate, the management considers the interest rates of
government bonds in currencies consistent with the currencies of the post-employment benefit obligation and extrapolated as needed along the yield curve to correspond with
the expected term of the defined benefit obligation.

The mortality rate is based on publicly available mortality tables. Those mortality tables tend to change only at intervals in response to demographic changes. Future salary
increases are after considering the expected future inflation rates for the country.

4 Allowance for doubtful trade receivables

Trade receivables do not carry any interest and are stated at their nominal value as reduced by appropriate allowances for estimated irrecoverable amounts.

Estimated irrecoverable amounts are derived based on a provision matrix which takes into account various factors such as customer specific risks, geographical region, product
type, currency fluctuation risk, repatriation policy of the country, country specific economic risks, customer rating, and type of customer, etc. The allowances for doubtful trade
receivables were Rs.0 lakhs as at March 31, 2025 (as at March 31, 2024 : Rs.0 ).

Individual trade receivables are written off when the management deems them not to be collectable.

Ministry of Corporate Affairs ("MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as
issued from time to time. For the year ended March 31, 2025, MCA has not notified any new standards or mendments to the existing standards applicable to the
Company.

Note 14 : Other equity

Refer to the statement of changes in equity for movement in Other equity.

Nature of Reserves

Nature and purpose of reserves

a) Capital Reserve

These reserve represents the gains arising out of forfeiture of shares.

b) Securities Premiem Reserve

Security Premium reserve is used to record the premium on issue of shares.

c) General Reserve

The General reserve is used from time to time for transfer of profits from Surplus in Statement of Profit and Loss for
appropriation purposes.
f) Retained earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other
distributions paid to the shareholders.

In line with the Ind AS - 108 Operating Segments and on the basis of the review of operations being done by the
senior management, the operations of the group fall under trading of all kinds of aluminum foils, aluminum sheets,
strips, coils, polypropylene (PP) caps and other.

In line with the Ind AS - 108 Operating Segments and on the basis of the review of operations being done by the
senior management, the operations of the group fall under trading of all kinds of aluminum foils, aluminum sheets,
strips, coils, polypropylene (PP) caps and other.

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.

A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic benefits
by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest
and best use.

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 within the fair
value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

a) Level 1 -- This includes financial instruments measured using quoted prices. The fair value of all equity instruments which are
traded on the Stock Exchanges is valued using the closing price as at the reporting period.

b) Level 2 -- The fair value of financial instruments that are not traded in an active market (for example over-the-counter
derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as
possible on entity-specific estimates.

c) Level 3 -- If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is
significant to the fair value measurement as a whole) at the end of each reporting period.

External valuers are involved, wherever required, for valuation of significant assets, such as properties, unquoted financial assets
and significant liabilities. Involvement of external valuers is decided upon by the Company after discussion with and approval by
the Company''s management. Selection criteria include market knowledge, reputation, independence and whether professional
standards are maintained. The Company, after discussions with its external valuers, determines which valuation techniques and
inputs to use for each case.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be
remeasured or re-assessed as per the Company''s accounting policies. For this analysis, the Company verifies the major inputs
applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents.
The Company also compares the change in the fair value of each asset and liability with relevant external sources to determine
whether the change is reasonable.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature,
characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

This note summarises accounting policy for fair value measurement. Other fair value related disclosures are given in the relevant
notes.

The management assessed that cash and cash equivalents, trade receivables, loans, other financial assets, trade
payables, borrowings and other financial liabilities (excluding current maturities of long-term borrowings)
approximate their carrying amounts largely due to the short-term maturities of these instruments.

Note 30 : Financial risk management

The Company''s principal financial liabilities comprise of loans and borrowings, trade payables and other financial liabilities. The loans and
borrowings are primarily taken to finance and support the Company''s operations. The Company''s principal financial assets include loans,
cash and cash equivalents, trade receivables and other financial assets.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s senior management oversees the management of
these risks. The Company''s senior management ensures that financial risk activities are governed by appropriate policies and procedures
and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The risk
management system is relevant to business reality, pragmatic and simple and involves the following:

Risk identification and definition: Focuses on identifying relevant risks, creating / updating clear definitions to ensureundisputed
understanding along with details of the underlying root causes / contributing factors.

Risk classification: Focuses on understanding the various impacts of risks and the level of influence on its root causes. This involves
identifying various processes generating the root causes and clear understanding of risk interrelationships.

Risk assessment and prioritisation: Focuses on determining risk priority and risk ownership for critical risks. This involves assessment
of the various impacts taking into consideration risk appetite and existing mitigation controls.

Risk mitigation: Focuses on addressing critical risks to restrict their impact(s) to an acceptable level (within the defined risk appetite).
This involves a clear definition of actions, responsibilities and milestones.

Risk reporting and monitoring: Focuses on providing to the Board periodic information on risk profile evolution and mitigation plans.

1. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices.
Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk or Net assset
value ("NAV") risk in case of investment in mutual funds. Financial instruments affected by market risk include investments, trade
receivables, trade payables, loans and borrowings and deposits.

The sensitivity analysis in the following sections relate to the position as at March 31, 2025 and March 31, 2024.

The sensitivity of the relevant profit and loss item is the effect of the assumed changes in respective market risks. This is based on the
financial assets and financial liabilities held at March 31, 2025 and March 31, 2024.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt
obligations with floating interest rates.

Interest rate sensitivity

The Company is not exposed to any interest rate fluctuations as the company does not carrry any liability with floating interest rates
stipulations

Foreign currency risk

The company has been engaged in foreign currency transactions, therefore there is risk associated with foreign corrency.

Foreign currency sensitivity

Since the company has conducted foreign transactions, it is exposed to foreign currecy risk, and threfore, the company is affected by
foreign currency senstivity

Credit Risk

As at the reporting date, the Company has credit exposure to only one debtor, resulting in concentration of credit risk. Based on past
recovery trends and the financial strength of the customer, management considers the credit risk to be low. However, due to the
concentration, any default by this debtor could have a material impact on the Company''s financial position.

Trade receivables

The Company manages customer credit risk through internal policies, procedures, and controls, including assessment of customer credit
quality based on ratings, credit assessments, and defined credit limits. Outstanding receivables are regularly monitored, and major
shipments are generally secured by letters of credit. As at March 31, 2025, the Company had credit exposure to only one debtor with an
outstanding balance exceeding ?100 lakhs, resulting in a concentration of credit risk. Based on past recovery trends and the financial
strength of the customer, management considers the credit risk to be low; however, due to this concentration, any default by the debtor
could have a material impact on the Company''s financial position.

The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several
jurisdictions and industries and operate in largely independent markets.

Trade receivables are non-interest bearing and are generally on 30 days to 180 days credit term. Credit limits are established for all
customers based on internal rating criteria. The Company has no concentration of credit risk as the customer base is widely distributed
both economically and geographically.

Liquidity Risk

The principal sources of liquidity of the Company are cash and cash equivalents, borrowings and the cash flow that is generated from
operations. It believes that current cash and cash equivalents, borrowings and cash flow that is generated from operations is sufficient to
meet requirements. Accordingly, liquidity risk is perceived to be low.

The Company manages its capital to ensure that it will be able to continue as a going concern and maintain an optimal capital structure. The capital
structure of the Company consists of only equity share capital and retained earnings, as the Company does not have any borrowings as at the
reporting date. The Company is debt free and is primarily financed through equity. Management regularly reviews the capital structure to ensure
adequate return to shareholders and to safeguard the interests of other stakeholders.

The Management is of the opinion that as on Balance Sheet Date, there are no indication of material impairment loss on Property, Plant and Equipment, hence, the need to
provide for impariment loss does not arise.

Note 37: Corporate Social Responsibility

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately
preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are promoting education, promoting gender equality by empowering
women, healthcare, environment sustainability, art and culture, destitute care and rehabilitation, disaster relief, COVID-19 relief and rural development projects. A CSR
committee has been formed by the Company as per the Act. The funds were primarily utilized through the year on these activities which are specified in Schedule VII of the
Companies Act, 2013. The provisions of Corporate Social Responsibility (CSR) are not applicable from this financial year.

Note 38 : Additional Regulatory Requirements

i The Company has not revalued its property, plant and equipment or during the current or previous year.

ii The Company has not provided or given Loans or Advances in the nature of Loans granted to Promoters, Directors, Key Managerial Personnel and Related Parties either severally

or jointly with any other person.

ⁱⁱⁱ The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

iv The Company has no transactions with the companies struck off under the Act or Companies Act, 2013.

a) The company has not advanced or loaned or invested funds to any other persons or entities,including foreign entities (Intermediaries) with the understanding that the
intermediary shall : Directly or indirectly lend or invest in other persons or entities identified in any manner whatsover by or on behalf of the company (Ultimate Beneficiaries) or
Provide any guarantee, security or like to or on behalf of the beneficiaries.

v

b) The company has not received any fund from any persons or entities, including foreign entities (funding party) with the understanding (whether recorded in writing or

wrotherwise) that the company shall: Directly or indirectly lend or invest in other persons or entities identified in any manner whatsover by or on behalf of the company (Ultimate

Beneficiaries) or Provide any guarantee, security or like to or on behalf of the beneficiaries.

The company does not hold any benami property under the Benami Transaction (prohibition) act, 1988 and the rules there made under. Hence any proceeding has not been

^vi initiated or pending against the company for holding any benami property under the Benami Transaction (prohibition) act, 1988 and rules made there under.

vii Previous year''s figures have been regrouped or rearranged wherever considered necessary.

In terms of our report of even date attached For and on behalf of the Board of Directors

For, Jain Kedia & Sharma
Chartered Accountants

FRN : 103920W Parag Jain Abhishek Jain

DIN: 02803856 DIN : 02801441

Managing Director Jt. Managing Director

Tarak Shah
Partner

Membership No. 182100

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Mar 31, 2024

2.13 Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the company has present determined obligations as a result of past events and an outflow of resources
embodying economic benefits will be required to settle the obligations. Provisions are recognised at the best estimate of the expenditure
required to settle the present obligation at the balance sheet date.

If the effect of the time value of money is material, provisions are discounted using a current pre tax rate that reflects, where appropriate, the
risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance
cost.

A Contingent liability is not recognised but disclosed in the notes to the accounts, unless the probability of an outflow of resources is
remote.

2.14 Earnings per share

The Basic earnings per share (EPS) is calculated by dividing the net profit or loss for the year attributable to the equity shareholders by the
weighted average number of equity shares outstanding during the year.

For the purpose of calculating Diluted earnings per share, the net profit or loss for the year attributable to the equity shareholders and the
weighted average number of equity shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

2.15 Exceptional items

Exceptional items refer to items of income or expense within statement of profit and loss from ordinary activities which are non-recurring
and are of such size, nature or incidence that their separate disclosure is considered necessary to explain the performance of the company.

2.16 Impairment of assets

The company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when
annual impairment testing for an asset is required, the company estimates the asset’s recoverable amount. An asset’s recoverable amount is
the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and its value in use. Recoverable amount is
determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or
groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is
written down to its recoverable amount.

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. In determining fair value less costs of disposal,
recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of profit and loss.

2.17 Leases

Company as a leasee

A lease is classified at the inception date as a finance lease or an operating lease.

A lease that transfers substantially all the risks and rewards incidental to ownership to the company is classified as a finance lease. Finance
leases are capitalised at the commencement of the lease at the inception date at the fair value of the leased property or, if lower, at the
present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability
so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognised in finance costs in the
statement of profit and loss.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the company will obtain

ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term.

Leases in which a significant portion of the risks and rewards of ownership are not transferred to the company are classified as operating
lease. Operating lease payments are recognised as an expense in the statement of profit and loss on a straight-line basis over the lease term,
unless the payments are structured to increase in line with expected general inflation.

Company as a lessor

Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease, unless the receipts are
structured to increase in line with expected general inflation.

2.18 Critical accounting estimates
Property, plant and equipment

The charge in respect of periodic depreciation of property, plant & equipment is derived after determining an estimate of an asset’s
expected useful life and the expected residual value at the end of its life. The useful lives and residual values of company''s assets are
determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are
based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in
technology.

RecoverabilityofTradeReceivable and provision forthe same

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those
receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future
payments and any possible actions that can be taken to mitigate the risk of non-payment. The provision for debtors is done for those
debtors which are outstanding for more than three years.

a) Capital Reserve

These reserve represents the gains arising out of forfeiture of shares.

b) Securities Premiem Reserve

Security Premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies
Act, 2013.

c) General Reserve

The General reserve is used from time to time for transfer of profits from Surplus in Statement of Profit and Loss
for appropriation purposes.

e) Equity Investment Reserve

This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other
comprehensive income, net off amounts reclassified to retained earnings when those assets have been disposed off.

Management estimations and assumptions

a) The management assessed that cash and cash equivalents, trade receivables, trade payables, bank overdrafts and other current liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments.

b) The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to
estimate the fair values:

(i) The fair values of the unquoted mutual funds are based on NAVs at the reporting date.

(ii) The fair values of the quoted equity shares have been determined based on price quotations as on reporting date approach for
determining the fair values.

Level 1: Quoted Prices in active markets for identical assets or liabilities

Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices)
or indirectly (i.e. derived from prices).

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The company’s policy is to recognize transfers into and the transfers out of fair value hierarchy levels as at the end of the reporting period.
There are no transfers between level 1 and level 2 during the end of the reported periods.

12.3 Financial Risk Management

The Company’s principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities is to finance
the Company’s operations. The Company’s principal financial assets include loans, trade and other receivables, and cash and cash
equivalents that derive directly from its operations.

The Company’s activities expose it to various financial risks: market risk, credit risk and liquidity risk. The company tries to foresee the
unpredictable nature of financial markets and seek to minimise potential adverse impact on its financial performance. The senior
management of the company oversees the management of these risks. It is supported by a risk management committee that advises on
financial risks and the appropriate financial risk governance framework for the Company. The risk management committee provides
assurance to the Company’s senior management that the Company’s financial risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives.
The Audit Committee has additional oversight in the area of financial risks and controls. It is the Company’s policy that no trading in
derivatives for speculative purposes may be undertaken.

13 CAPITAL MANAGEMENT

The following are the objectives of Capital management policy of the company:

(a) Safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other
stakeholders, and

(b) Maintain an optimal capital structure to reduce the cost of capital

As a part of capital management strategy, the company may adjust the amount of dividends paid to shareholders, issue new shares, raise
debt capital or sell assets to reduce debt. The company monitors capital basis a gearing ratio which is calculated by dividing the total
borrowings by total equity. The company’s strategy is to maintain a gearing ratio lower than 30%. In order to achieve this overall objective,
the company ensures to meet its financial covenants attached to the interest bearing loans and borrowings. There have never been any
breaches in financial covenants of any interest bearing loans and borrowings in the past and also in the current period.

14 SEGMENT INFORMATION

In accordance with Indian Accounting Standard 108 "Operating Segments" prescribed by Companies (Accounting Standards) Rules, 2015,
the company has determined its primary business segment as a single segment of Trading Business i.e. Aluminium Coils. Since there are no
other business segments in which the company operates, there are no other primary reportable segments. Therefore, the segment revenue,
segment results, segment assets, segment liabilities, total cost incurred to acquire segment assets, depreciation charge are all as is reflected in
the financial statements.

15 RELATED PARTY TRANSACTIONS

Related parties and transactions with them as specified in the Ind-AS 24 on “Related Parties Disclosures” presribed under Companies
(Accounting Standards) Rules, 2015 has been identified and given below on the basis of information available with the company and the
same has been relied upon by the auditors.

For SURRENDRA & ASSOCIATES

Chartered Accountants

Firm Registration No: 010189N Parag Jain Abhishek Jain

(Managing Director) (Jt. Managing Director)

(DIN: 02803856) (DIN: 02801441)

S.K.Pensi

Partner

Membership No: 085572
Place: New Delhi
Date: 28 /05 / 2024
UDIN: 24443 526B KILRU9196

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Mar 31, 2015

1. SHARE CAPITAL

a) Terms/ rights attached to equity shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company the holders of equity shares will be entitled to receive remaining assets of company , after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Pursuant to the Companies Act, 2013 ("the Act") becoming effective from 1st April, 2014, the Company has recomputed the depreciation based on the useful life of the assets as prescribed in Schedule II of the Act. The depreciation and amortization expense charged for the year ended 31st March, 2015 would have been higher by Rs. 64,108/- had the Company continued with the previously prescribed depreciation rates as per Schedule XIV of the Companies Act, 1956. Further, in accordance with the transitional provisions of Schedule il, the Company has adjusted an amount of Rs. 718,637 (Net off deferred tax Rs. 322000/- thereon) in the opening balance of retained earnings for those assets where the remaining useful life is Nil as on 1st April, 2014.

3. Related parties and transactions with them as specified in Accounting Standard 18 on "Related Parties Disclosure" issued by iCAI has been identified and given below.

a) Enterprises where control exists Blackberry Property Advisory Private Limited (Subsidiary Company)

b) Associates and Joint Ventures -

c) Individual Owning an interest in the voting power of the company and their relatives -

d) Key Management Personnel and Anil Agrwal (Chairman and their Relatives Managing Director)

Renu Agarwal (Director)

Lalit Kumar Chhawchharia (Director)

Krishan Kumar Singh (CFO)

Parul Jain (Company Secretary)

e) Enterprises over which any person referred to in Nilgiri Mercantile Pvt. Ltd.

(c) or is able to exercise significant influence

4. on the basis Physical verification of assets,specified in Accounting Standard 28, and cash generation capacity of those assets management perception there is no impairment of such assets as appearing in the balance sheet as on 31.03.2015

5. Particulars required to be disclosed in pursuance of Accounting Standard - 15 (revised 2005) on -Employee Benefits" as issued by the Institute of Chartered Accountants of India is not determined and hence, not disclosed.

6. Previous year figures have been rearranged/regrouped wherever considered necessary.

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Mar 31, 2014

1. Capital commitments remaining to be executed and not provided for amount to Rs.353.77 lacs ( Rs.332.53 lacs); advance there against amount to Rs. 238.03 lacs (Rs. 202.82 lacs).

2. a) There are no dues to any entity which is covered under small scale industrial undertaking.

b) In absence of necessary information relating to the suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the company is unable to identify such suppliers, hence the information required under the said act is not given.

c) Balance in the account of M/s Shoecraft under the head ''Sundry Creditors - Others'' and certain adjustments there in are subject to confirmation.

3 Due to economic reasons, the company has changed its line of business from being a manufacturing exporter to merchant exporter w.e.f 1 st November, 2013 under an arrangement with a manufacturer and getting company''s export orders manufactured from the company''s existing manufacturing facilities.

4. On the baste of physical verfication of assets, as specified in Accounting Standard - 28. and cash generation capacity of those assets, in the management perception there is no impairment of such assets as appearing in the balance sheet as on 31.03.2014

5. Particulars required to be disclosed in pursuance of Accounting Standard -15 (revised 2005) on "Employee Benefits" as issued by the Institute of Chartered Accountants of India is not determined and hence, not disclosed.

6. Previous year figures have been rearranged/regrouped wherever considered necessary.

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Mar 31, 2013

A) Terms/ rights attached to equity shares

The company has only one class of equity shares having a par value of 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in indian rupees. The dividend proposed by the Board of Directors is subject to the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of company, after distrubution of all preferential amounts. The distrubution will be in proportion to the number of equity shares held by the shareholders.

1. Capital commitments remaining to be executed and not provided for amount to Rs. 332.53 lacs (Rs. 232.52 lacs); advance there against amount to Rs. 202.82 lacs (Rs. 130.18 lacs).

2. a) The names of small scale industrial undertakings to whom the Company owes sums outstanding for more than 30 days as at the Balance Sheet date is Indcoat Shoe Accessories, Sagar Buckles Pvt. Ltd, Ashian Mercantile Pvt Ltd, Capston Rubber India and Scarco Shoes Pvt. Ltd.. This information and that given in Note 6 - "Trade Payables* regarding small scale industrial undertakings has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

b) In absence of necessary information relating to the suppliers under the Micro, Smalt and Medium Enterprises Development Act, 2006, the company is unable to identify such suppliers, hence the information required under the said act is not given.

c) Balance in the account of M/s Shoecraft under the head ‘Sundry Creditors - Others'' is subject to confirmation.

3. Advance against one Property namely ’Kensington Boulevard’, Noida is in the name of the an Ex-Director on behalf of the company.

Company is taking steps to transfer such allotment in the name of the company.

4. On the basis of physical verfication of assets, as specified in Accounting Standard - 28, and cash generation capacity of those assets, In the management perception there is no impairment of such assets as appearing in the balance sheet as on 31.03.2013

5. Particulars required to be disclosed in pursuance of Accounting Standard - 15 (revised 2005} on "Employee Benefits* as issued by the Institute of Chartered Accountants of India is not determined and hence, not disclosed,

6. Previous year figures have been rearranged/regrouped wherever considered necessary.

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Mar 31, 2012

A) Terms/ rights attached to equity shares

The company has only one class of equity shares having a par value of X 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in indian rupees. The dividend proposed by the Board of Directors is subject to the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company , the holders of equity shares will be entitled to receive remaining assets of company , after distrubution of all preferential amounts. The distrubution will be in proportion to the number of equity shares held by the shareholders.

b) Out of the above, 757800 Equity shares were alloted on 31.03.2007 pursuant to the scheme of amalgamation,without payment being received in cash .

OTHERS:

1.a) Premium on import entitlements is accounted for on sale thereof.

b) Liability towards gratuity is funded with Life Insurance Corporation of India and administered through a separate trust set up by the Company. The Company's contribution towards the Fund is charged to Profit & Loss Account. Provision o' gratuity for employees not covered by the scheme is made at the undiscounted amount.

c) Impairment Loss in the value of assets, as specified in Accounting Standard - 28, is recognised whenever carrying value of such assets exceeds the market value or value in use , whichever is higher.

2. Capital commitments remaining to be executed and not providedfor amount to Rs. 232.52 lacs (Rs. 473.22 lacs); advance there against amount toRs. 130.18 lacs ( Rs. 135.26 lacs).

3. a) The names of small scale industrial undertakings to whom the Company owes sums outstanding for more than 30 days as at the Balance Sheet date is Anand Brothers, Indcoat Footwear, Indcoat Shoe Components Ltd., Indcoat Shoe Accessories, Sagar Buckles Pvt. Ltd and Scarco Shoes Pvt. Ltd.. This information and that given in Note 6 - "Trade Payables" regarding small scale industrial undertakings has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

b) In absence of necessary information relating to the suppliers under the Micro, Small and Medium Enterprises DevelopmentAct, 2006, the company is unable to identify such suppliers, hence the information required under the said act is not given,

4. Interest to Banks is net of interest Income ofT 5.16 lacs (Rs. 4.27 lacs); TDSRs. 0.47 lacs ( Rs. 0.43 lacs), on Fixed Deposits pledged with the Banks against the Credit Facilities related to exports.

5. Advance against one Property is in the name of the an Ex-Director on behalf of the company. Company is taking steps to transfer such allotment in the name of the company.

6. On the basis of physical verification of assets, as specified in Accounting Standard - 28, and cash genaration capacity of those assets, in the management perception there is no impairment of such assets as appearing in the balance sheet as on 31.03-2012

7. Particulars required to be disclosed in pursuance of Accounting Standard — 15 (revised 2005) on "Employee Benefits" as issued by the Institute of Chartered Accountants of India is not determined and hence, not disclosed.

8. Previous year figures have been rearranged/regrouped wherever considered necessary.

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Mar 31, 2010

1. Capital commitments remaining to be executed and not provided for amount to Rs.124.44 lacs(Rs.96.94 lacs); advance there against amount to Rs.103.10 lacs (Rs.82.76 lacs).

2. a) The names of small scale industrial undertakings to whom the Company owes sums outstanding for more than 30 days as at the Balance Sheet date is Sagar Buckles Pvt. Ltd and Anand Cutting Profile P. Ltd.. This information and that given in Schedule 11 - "Current Liabilities and Provisions" regarding small scale industrial undertakings has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

b) In absence of necessary information relating to the suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the company is unable to identify such suppliers, hence the information required under the said act is not given.

3. Interest to Banks is net of interest Income of Rs.3.55 lacs (Rs.3.07 lacs); TDS Rs.0.55 lacs (Rs.0.67 lacs), on Fixed Deposits pledged with the Banks against the Credit Facilities related to exports.

4. Related Party Disclosures

1 Enterprises where control exists None

2 Other related parties with whom the Company had transactions Key management personnel

Sh. Anil Agarwal Chairman & Managing Director

Smt. Rakhee Agarwal Whole Time Director

3 Enterprises over which Key Management Personnel and their relatives are able to exercise significant influence Nilgiri Mercantile Private Ltd.

5. On the basis of physical verfication of assets, as specified in Accounting Standard - 28, and cash genaration capacity of those assets, in the management perception there is no impairment of such assets as appearing in the balance sheet as on 31.03.2010.

6. Particulars required to be disclosed in pursuance of Accounting Standard – 15 (revised 2005) on “Employee Benefits” as issued by the Institute of Chartered Accountants of India is not determined and hence, not disclosed.

7. Previous year figures have been rearranged/regrouped wherever considered necessary.