a. There are no disputed trade receivables in the current and previous year.

b. All the Trade Receivables are Unsecured and considered good.

c. Trade receivables are generally with the credit term of 30 to 90 days and are non interest bearing.

d. The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length transactions.

e. Trade Receivables are hypothecated to banks for availaing cash credit facility.The quarterly returns/ statements filed by the company with the bank(s) in respect of such facilities are in agreement with the books of accounts.

f. No Debts due by Directors or other officers of the company or any of them either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member.

Notes:

* Earmarked balances with banks are denominated and held in Indian Rupees.

14(a) Margin money represents money with original maturity of more than 3 months having remaining maturity of less than 12 months from the Balance sheet date

14(b) Unpaid Dividend: Section 124 of the Companies Act, 2013 mandates that companies transfer dividend that has been unclaimed for a period of seven years from unpaid dividend account to Investor Education & Protection Fund (IEPF). Accordingly,dividend of Rs. 2.58 lakhs pertaining to FY 2014-15, has been transferred to IEPF Account.

16(a) The Company has deposited an amount of ' 800 lacs with the GST department under protest which is disclosed in the financial statement as “Taxes paid under protest " under the schedule “Other Current Assets”. The management of the company and the legal experts are confident that there will be no liability in the case and hence no provision is made in the books of accounts.

16(b) No advances are due from directors or other officers of the company or any of them either severally or jointly with any other persons or advances due to firms or private companies respectively in which any director is a partner or a director or a member.

a. Terms / Rights attached to Shareholders

The Company has only one class of issued shares i.e. Equity Shares having par value of ' 2 per share. Each holder of Equity Shares is entitled to one vote per share and ranks pari passu. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.

b. Reconciliation of Equity Shares Outstanding at the Beginning and at the end of the Reporting Period

19(a). Car Loan - Kotak Bank

Car Loan from Kotak Bank was availed,interest rate is linked with MCLR rate which is reset for every 3 months. The loan was repayable in 60 equal monthly instalments. The loan is completely repaid in the FY 2022-23. 19(b). Car Loan - Yes Bank

Car Loan from Kotak Bank was availed, interest rate is linked with MCLR rate which is reset for every 3 months.. The loan was repayable in 60 equal monthly instalments. The loan is completely repaid in the FY 2022-23.

19(c). Guaranteed Emergency Credit Line -State Bank Of India

Guaranteed Emergency Credit Line (GECL) of Rs.500 lacs was sanctioned by State Bank of India by way of Working Capital Term Loan(WCTL) in the month of January,2021.The loan is prepaid during the FY 2022-23. Interest rate is linked with MCLR rate which is reset for every 3 months.

19(d). Guaranteed Emergency Credit Line - HSBC

Guaranteed Emergency Credit Line (GECL) of Rs.1850 lacs is sanctioned by HSBC by way of Working Capital Term Loan(WCTL) in the month of December,2021.There is a Principal Moratorium of 24 Months and the Principal repayment starts in the Month of December,2023.The Loan is repayable in 48 Monthly instalments starting from December,2023 .interest rate is linked with MCLR rate which is reset for every 3 months. The Principal repayable during FY 2023-24 amounting to Rs.154.16 lacs is classified under Current Maturities of Long Term Debt-Note:20

20(a) Cash Credit loan from SBI,HSBC Bank, HDFC Bank,ICICI Bank is secured by personal guarantee of Directors,Corporate Guarantee of Company and an Exclusive charge on entire Current Assets and Fixed Assets of the Company.The Company has taken loans against security of current assets and monthly statements of current assets filed by the Company with bank are in agreement with the books of accounts. It is repayable on demand and carries floating Interest rate is linked with MCLR rate which is reset for every 3 months.

20(b) The Company has availed Working Capital Demand Loan(WCDL) from ICICI Bank,for a tenure of 180 days as a sub limit of cash credit,to the extent of Rs.1500 lacs. Interest rate is linked with MCLR rate which is reset for every 3 months.

20(C) The Company has availed Foreign Currency Demand Loan(FCDL) from SBI,for a tenure of 180 days as a sub limit of cash credit,to the extent of Rs.3100 lacs.The facility is linked with SDFR and is fully hedged. Interest rate is linked with MCLR rate which is reset for every 3 months.

21 a. Unpaid Dividend: Section 124 of the Companies Act,2013 mandates that companies transfer dividend that has been unclaimed for a period of seven years from unpaid dividend account to Investor Education & Protection Fund (IEPF).Accordingly,dividend of Rs.2.58 lakhs pertaining to FY 2014-15, has been transferred to IEPF Account.

34. Disclosure required under Section 186(4) of the Companies Act 2013

In the opinion of Board of Directors and to the best of their knowledge and belief, the above disclosure pursuant to Securities Exchange Board Of India (Listing Obligation and Disclosure Requirement and Regulation 2015) and Section 186 of the Companies Act 2013.

35. In the opinion of Board of Directors and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business, would not be less than the amount at which the same are stated in the Balance Sheet.

45. Segment Reporting:

The Company is primarily engaged in the manufacture of copper products which as per Indian Accounting Standard - 108 on ‘Operating Segments' is considered to be the only reportable business segment. The Company is operating in India which is considered as a single geographical segment.

Factors used to identify the reportable segments:

The Company has following business segments, which are its reportable segments. These segments offer different products and services, and are managed separately because they require different technology and production processes. Operating segment disclosures are consistent with the information:

46. Retirement and Other Employees Benefits

The Company's employee benefits primarily cover provident fund, gratuity and leave encashment.

Provident fund is a defined contribution scheme and the company has no further obligation beyond the contribution made to the fund. Contributions are charged to the Profit & Loss account in the year in which they accrue. Gratuity

liability is a defined benefit obligation and is based on the actuarial valuation done. The gratuity liability and the net periodic gratuity cost is actually determined after considering discounting rates, expected long term return on plan assets and increase in compensation level. All actuarial gain/ losses are immediately charged to the Profit & Loss account and are not deferred.

47. Note No.16 (a) of the accompanying standalone financial results which refers that the GST authorities conducted an investigation and on the insistence of the authorities, the company has deposited an amount of Rs.800 lakhs with GST Department under protest and shown in financial statements under the head “Current Assets”. The company has not received any show cause notice till date. The company has been advised by the legal experts that it has fair chance of ultimately succeeding in the matter and accordingly no provision has been made in the books of accounts.

53. Financial Instruments and Risk management

The fair value of financial assets and liabilities is included in 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 fair value of trade receivable, trade payable and other current financial assets and liabilities is considered to be equal to the coiling value amounts of these items due to their short term nature. Where such items are non-current in nature the same has been classified as level 3 and fair value determine using discounted cash value basis.

Set out below is a comparison, by class, of the carrying amounts and fair value of the Company's financial instruments, other than those with carrying amounts that are reasonable approximates of fair values:

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the input that is significant to the fair value measurement as a whole:

a) Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

b) Level 2 — Inputs other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and

c) Level 3 — Inputs which are unobservable inputs for the asset or liability.

External valuers are involved for valuation of significant assets & liabilities. Involvement of external valuers is decided by the management of the company considering the requirements of Ind As and selection criteria include market knowledge, reputation, independence and whether professional standards are maintained.

54. Financial risk management objectives and policies

The Company's principal financial liabilities other than derivatives comprise long-term and short-term borrowings, capital creditors and trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial assets other than derivatives include trade and other receivables, cash and cash equivalents and deposits that derive directly from its operation.

The Company is exposed to market, credit, liquidity and regulatory risks. The Company does not have any foreign Currency Liabilities; therefore, the exchange fluctuation risk is negligible. The Company's senior management oversees the management of these risks. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below:

A. 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: commodity risk, interest rate risk and foreign currency risk.

(i) Commodity Price Risk

The principal commodity of the company, which is copper, is fully hedged, insulating it from any price risk.

(ii) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rate relates primarily to the Company's operating activities (when revenue or expense is denominated in a foreign currency). Further, the Company has foreign currency risk on import of input materials, capital commitment and also borrow funds in foreign currency for its business. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks. Certain transactions of the Company act as a natural hedge as a portion of both assets and liabilities are denominated in similar foreign currencies, for the remaining exposers to foreign exchange risks, the Company adopts a policy of selective hedging based on risk perception of management using derivative, whenever required, to mitigate or eliminate the risks.

(iii) Interest Rate risk

The Company is exposed to interest rate risk on financial liabilities such as borrowings, both short-term and long-term. It maintains a balance of fixed and floating interest rate borrowings and the proportion is determined by current market interest rates, projected debt servicing capability and view on future interest rates.

B. Credit Risk

Financial Asset of the Company include trade receivables, employee advances and bank deposits which represents Company's maximum exposure to the credit risk.

With respect to credit exposure from customers, the Company has a procedure in place aiming to minimise collection losses. Credit Control team assesses the credit quality of the customers, their financial position, past experience in payment and other relevant factors. The Company's exposure to credit risk is influence mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including default risk associated with the industry and country in which customers operate. Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits are defined in accordance with this assessment. with respect to other financial risk Viz loan and advances , deposit with government, the credit risk is insignificant since the loans and advances are given to its employees only and deposits are held with reputable banks. The credit quality of the financial assets is satisfactory, taking into account the allowance for credit losses.

C. Regulatory Risks

The Company performance may be impacted due to change in Regulatory Environment. The Company is closely monitoring the regulatory developments and risks thereof and proactively implementing course correction for proper compliance commensurate with new regulatory requirements.

D. Liquidity Risk

The company's objective is to maintain a balance between continuity of funding and flexibility through the use of bank deposits and loans

55. Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital, and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to maximize the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings (Excluding Loans from Holding Co.), trade and other payables, less cash and cash equivalents

In order to achieve this overall objective, the Company's capital management, amongst other things including working capital management, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowings in the current period.

a) Change in the ratio is due to increase in Borrowings due to scaling up of operations

b) Change in the ratio is due to Increases in Net Profit, which resulted into better Returns on Equity.

57. Other Statutory InformationA. RELATIONSHIP WITH STRUCK OFF COMPANIES

The company do not have any transactions with company's struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year ended 31st March, 2023 (Previous year: Nil).

B. DISCLOSURE IN RELATION TO UNDISCLOSED INCOME

The company do not have any such transactions which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year ended 31st March, 2023 and also for the year ended 31st March, 2022 in the tax assessments under Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

C. DETAILS OF BENAMI PROPERTY HELD The Company do not hold any property under Benami Transactions

(Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, hence there are no proceedings against the company for the year ended 31st March, 2023 and also for the year ended 31st March, 2022.

D. REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES (ROC)

The Company do not have any charges or satisfaction, which are yet to be registered with ROC beyond the statutory period, during the year ended 31st March, 2023 and also during the year ended 31st March, 2022.

E. DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The company have not traded or invested in crypto currency or virtual currency during the year ended 31st March, 2023 and also during the year ended 31st March, 2022.

F. UTILISATION OF BORROWED FUND AND SHARE PREMIUM

The company have not advanced or loaned or invested funds to any other person(s) or entity (ies), including foreign entities (intermediaries) with the understanding that the intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

The company have not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or (b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

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

58. Confirmation letters of majority of balances under the heads Trade Payables, Claims Recoverable, Loans & Advances, Trade Receivables and Deposits from and with various parties/ Government Departments have been sent but in number of cases such confirmation letters from the parties are yet to be received.

59. Previous year's figures have been regrouped and rearranged, wherever found necessary.