14.2 Rights attached to equity shares

The Company has only one class of equity shares having par value of H 1 per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of the equity shares will be entitled to receive assets of the company remaining after settlement of all liabilities. The distribution will be in proportion of the number of equity shares held by the shareholders.

14.4 As per records of the company, including its register of shareholders/ members, the above shareholding represents legal and beneficial ownerships of shares.

14.5 The company has not issued any shares allotted as fully paid up pursuant to contract without payment being received in cash during the 5 years preceding March 31,2024 and March 31,2023.

14.6 The company has not issued any bonus shares during the 5 years preceding March 31,2024 and March 31,2023.

14.7 The company has not done any buy back of shares during the 5 years preceding March 31,2024 and March 31,2023.

Securities Premium

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

Revaluation reserve

The excess of fair value of property plant and equipment over their carrying amounts have been recognised in the revaluation reserve.

General Reserve

General Reserve is used to transfer profits from retained earnings for appropriation purposes. The amount is to be utilised in accordance with the provision of the Companies Act, 2013.

Retained Earnings

Retained Earnings are the profits/(losses) of the Company earned/incurred till date net of appropriations

Other Comprehensive Income

This reserve represents the cumulative gains and losses arising on revaluation of equity instruments and defined benefit obligation measured at fair value through other comprehensive income, net of amounts reclassified to retained earnings when the equity instruments are disposed of as per IND AS.

VII. Sensitivity Analysis

Significant actuarial assumptions for the determination of the defined benefit obligation are discount trade, expected salary increase and employee turnover. The sensitivity analysis below, have been determined based on reasonably possible changes of the assumptions occurring at end of the reporting period , while holding all other assumptions constant. The result of sensitivity analysis is given below:

These plans typically expose the company to actuarial risks such as: investment risk, interest risk, longevity risk and salary risk.

Investment risk: The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds.

Interest risk: A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

Salary risk: The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

Note: The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority,promotion and other relevant factors including supply and demand in the employment market.

The above information and data are as per actuarial report issued and certified by the actuary.

*The Company has spent an amount of H 154.00 Lakhs under CSR activities on construction of 'Patient Shelter Home' near All India Institute of Medical Science (AIIMS) Bathinda, on land provided by AIIMS, for accommodation to the poor and economically backward patients and their relatives coming from far off places of rural areas to reside for post operation treatment and other serious diseases recommended by AIIMS through Dwarka Dass Mittal Charitable Trust. The trust is registered u/s 12A of Section 80G of the Income Tax Act, 1961 and also registered with MCA for undertaking CSR Activities as per Certificate No. CSR 00002250. Hence the expenditure made for the said project qualify under "Promoting Health Care" in the nature of CSR Activities provided under Schedule 7 of the Companies Act, 2013.

* Pursuant to the approval of the shareholders at the Annual General Meeting of the company held on 26/09/2023, each equity share of Face Value H 10 per share was sub divided into equity share of face value of H 1 per share w.e.f from the record date i.e. 27/10/2023. Consequently the basic and diluted earning have been computed for all period presented in the standalone financial of the company on the basis of the new number of equity shares in accordance with the IND AS 33 - Earning per Share. Earnings as per old no of equity shares are mentioned in the bracket.

36. CAPITAL MANAGEMENT AND FINANCIAL INSTRUMENTS

36.1 Capital Management

The Company manages its capital to ensure that it will continue as going concern while maximizing the return to stakeholders.

The company manages its capital structure and make adjustment in light of changes in business condition. The overall strategy remains unchanged as compare to last year.

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles;

a) Maintain financial strength to ensure A Stable ratings domestically

b) Ensure financial flexibility and diversify sources of financing and their maturities to minimize liquidity risk while meeting investment requirements.

c) Proactively manage group exposure in forex, interest and commodities to mitigate risk to earnings.

d) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environment, financial market conditions and interest rates environment.

Valuation

All financial instruments are initially recognized and subsequently re-measured at fair value as described below:

a) The fair value of investment in quoted Equity Shares is measured at quoted price.

b) The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

c) All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

d) The Fair Value of Unquoted Share are taken at book value per share as per the last audited financial statement.

The financial instruments are categorized into three levels based on the inputs used to arrive at fair value measurements as described below: Level: Quoted prices (unadjusted) in active markets for identical assets or liabilities; and

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. For investments in unquoted shares, the company has used the book value per share as per the last audited financial statement.

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

36.6 Commodity Price Risk

Commodity price risk arises due to fluctuation in prices of crude oil and other products. The company has a risk management frame work aimed at prudently managing the risk arising from the volatility in commodity prices and freight costs.

The company's commodity risk is managed centrally through well-established trading operations and control processes.

36.7 Credit Risk

Customer credit risk is managed by each business unit subject to the Company's established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored and any shipments to major customers are generally covered by Letters of Credit, Bank Guarantees or other forms of credit insurance, wherever required.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 8.

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.

Liquidity risk is the risk that suitable sources of funding for the company's business activities may not be available. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain funds at higher rates. The Company monitors rolling forecasts of the Company's cash flow position and ensure that the Company is able to meet its financial obligation at all times including contingencies.

46. DETAILS OF INCOME TAX DEMAND/DEFAULTS

(a) There is no outstanding demand of any assessment year till A/Y 2024-25.

47. EVENTS AFTER THE REPORTING PERIOD

For the year ended 31st March, 2024

The Board of Directors have recommended an equity dividend of H 0.25/- per share of face value of H1/- each i.e. @ 25% for the financial year ended March 31,2024 in its meeting held on 22th May 2024, on total number of equity shares issued (incuding Public category and Promoters) , which will be paid to the shareholders within 30 days of declaration of the same at the ensuing Annual General Meeting. This will lead to an approximate outflow of H 680.88 lakhs if approved.

47. EVENTS AFTER THE REPORTING PERIOD

For the year ended 31st March, 2023

The Board of Directors have recommended an equity dividend of H 5/- per share of face value of H10/- each i.e. @ 50% for the financial year ended March 31, 2023 in its meeting held on 29th May 2023, on Equity Shares belonging to Public Category (i.e. Excluding the shares upon which the Promoters have waived/forgone his/their right to receive the dividend by him/them for financial year 2022-23 ), which will be paid to the shareholders within 30 days of declaration of the same at the ensuing Annual General Meeting. This will lead to an approximate outflow of H 466.56 lakhs if approved. Also, the board has approved the splitting of the face value of the shares from H 10 to H 1 per share, subject to approval of the shareholders and other statutory approvals.

48. APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved for issue by the board of directors on 22nd May 2024

49. Long Term Contract: The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

50. Other Payable: It includes Unclaimed Dividend Account and the Company had transferred H 4,88,884 in the PY to the Investor Education and Protection Fund. However, there is no amount pending to be transferred to Investor Education and Protection Fund as on 31.03.2024.

51. The accounts of certain trade receivables, trade payables, short term loans and advances and current liabilities are subject to confirmation / reconciliation and adjustment, if any. The management does not expect any material difference affecting the current year's financial statements. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.

52. There are not any charges or satisfaction yet to be registered with ROC beyond the statutory period.

53. No transactions to report against the following disclosure requirements as notified by MCA pursuant.

(a) Crypto Currency or Virtual

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

(c) Relating to borrowed funds:

i. Wilful defaulter

ii. Utilisation of borrowed funds & share premium

iii. Discrepancy in utilisation of borrowings

iv. Current maturity of long term borrowings.

(d) Disclosure for Struck off Companies.

(e) Disclosure for undisclosed income disclosed under income tax proceedings.

(f) Compliance with numbers of layers of companies.

(g) Title deed of Immovable Properties not held in the name of the company.

54. The figures of previous year have been reclassified/regrouped for the better presentation in the financial statements and to confirm to the current year's classification/disclosures. This does not have any impact on the profits of previous year.

55. Accompanying notes are an integral parts of financial statements.