7.1 It represents amount given to a Builder / Developer Company in earlier years. The Builder / Developer Company to whom the amount was advanced, has been acknowledging the advance and has also been assuring to transfer suitable properties of equal value and get the documents of title executed in favour of company. However till date, the Builder / Developer Company has neither transferred any property and / or executed title deed(s) in favour of company nor repaid any amount in spite of the assurances given from time to time. As a matter of abundant caution the amount has already been fully provided in the year ended 31.03.2013.

13.1 Represents GST input receivable of? 8.53 lakhs (previous year? 10.57 lakhs) which is under reconciliation with Electronic Credit Ledger balance of ? 0.65 lakhs (previous year? nil).

13.2 Includes Advances recoverable ? 1.22 lakhs (previous year ? 3.56 lakhs) from directors on account of TDS, Advance against bonus ? 26.02 lakhs (previous year ? 21.99 lakhs), Advance against salary ? 2.31 lakhs (previous year ?2.13 lakhs) and advance against capital account of ? 11.02 lakhs (previous year? 9.69 lakhs).

13.3 Represents Income Tax refund for the A.Y 2020-21, A.Y 2022-23 and A.Y 2018-19 (net of demand for AY 2018-19) (refer note no 35).

13.4 Includes ? 15.14 lakhs (previous year? 23.69 Lakhs) lakhs to Cosco (India) Ltd. Employees Group Gratuity Scheme [refer note 2.13(d)].

14.1 Term/right attached with equity shares:

The Company has only one class of equity shares having a par value of ? 10 per share. Each holder of equity share is eligible for one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

15.1 Securities Premium

Where the Company issues shares at premium, whether for cash or otherwise, a sum equal to the aggregate amount of the premium received on those shares shall be transferred to "Securities Premium account". The company may apply the premium inter-alia towards issue of fully paid-up bonus shares and purchase its own shares or other securities under section 68 of the Act.

15.2 General Reserve

General reserve is created out of profit earned by the company by way of transfer from surplus in the Statement of Profit & Loss. There are no restrictions on utilisation of the reserve except in case of declaration of dividend out of Reserves as prescribed under The Companies (Declaration and Payment of Dividend) Rules,2014 read with Section 123 of The Companies Act 2013.

15.3 Retained Earnings

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

15.4 The disaggregation of changes in Security premium, General reserve, retained earnings and other comprehensive income are disclosed in Statement of Changes in Equity.

16.2 Out of the total Unsecured borrowings from related parties aggregating ? 3,426.06 lakhs (previous year ? 3,324.56 lakhs), a sum of ? 1,450 lakhs (previous year ? 1,450 lakhs) has been classified as long term borrowing (s) as per the declaration of the lenders. The loans have been carried over since earlier years without specifying the tenure. However, the rate of interest is determined and approved by the Board of Directors every year, the interest rate determined for current year is 9% p.a. The balance amount has been considered short term borrowing(s).

16.3 Working Capital Loans are secured against hypothecation of all moveable properties including plant & equipment, stocks of raw materials, stores and spares, finished goods, stock in trade and all book debts, bills and claims receivables. The loans from banks are collaterally secured against equitable mortgage of factory land/building & guaranteed by all Executive Directors.

16.4 The company has utilised the borrowings from banks and financial institutions for the specific purposes for which it was taken. There has been no default with regard to repayment of borrowing and interest during the year and outstanding on the date of balance sheet.

16.5 The company has not been declared as wilful defaulter by any bank or financial institution or any other lender.

27.1 Contribution to defined contribution plans

The Company makes contribution towards provident fund and pension fund. These funds are administered by Government of India. Under the schemes; the Company is required to contribute a specified percentage of salary to the retirement benefit schemes to fund the benefit.

27.2 Defined Benefit Plan Gratuity

The company has a defined benefit gratuity plan. Under the gratuity plan every employee, director and key managerial person who has completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each completed year of service subject to maximum of ? 20 lakhs.

For employees, the Company makes annual contributions to approved Gratuity Trust under Income Tax Act, which in turn contributes to Life Insurance Corporation of India which administers the plan and determines the contributions required to be paid by the trust. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method.

For directors, Gratuity liability is non funded and provision is made as determined by the actuary in term of IndAS 19.

30.1 Includes directors' travelling ? 33.38 lakhs (previous year ? 20.7 lakhs).

30.2 Statutory Audit fees is ? 7 lakhs (previous year ? 5.50 lakhs) and Tax Audit fees is ? 2.50 lakhs (previous year ? 2.45 lakhs).

30.3 Includes Prior period expenses of ? 8.20 lakhs (previous year ? 2.02 lakhs), director's sitting fee ? 1.45 lakhs (previous year ? 1.40 lakhs), General expenses ?16.95 lakhs (previous year ? 13.43 lakhs), License fee X 6.46 lakhs (previous year X 4.65 lakhs), Donation X 9.47 lakhs (previous year? 7.53 lakhs), Assets written off? 0.35 lakhs (previous year? 2.46 lakhs), Festival expenses ? 6.27 lakhs (previous year? 6.45 lakhs), Subscriptions ? 9.12 lakhs (previous year? 9.39 lakhs), Software expenses ? 6.05 lakhs (previous year? 5.46 lakhs), Water & electricity & generator expenses? 8.29 lakhs (previous year? 8.73 lakhs).

30.4 CSR amount required to be spent as per section 135 of the Companies Act, 2013 read with Schedule VII thereof by the Company during the year is ? Nil (previous year ? Nil) due to lower figures of net worth, turnover and net profits in the immediately preceding financial year than the threshold limit prescribed u/s 135(1) of the Act.

30.5 Includes repair to vehicles ? 36.76 lakhs (previous year ? 49.52 lakhs) and Electric repairs ? 20.88 lakhs (previous year ? 31.22 lakhs).

30.6 Includes Ball cleaning & covering charges ? 199.66 lakhs (previous year ? 182.67 lakhs), Ball pasting charges ? 156.13 lakhs (previous year? 121.27 lakhs), Set making charges ? 176.30 lakhs (previous year? 134.47 lakhs).

34.1 Related parties have been identified by the management.

34.2 Key Managerial personnel remuneration does not include provision for gratuity and compensated absences.

34.3 No amounts have been written off / provided for or written back during the year in respect of amounts receivable from or payable to related parties.

34.4 Remuneration paid to KMP excludes expenses incurred in the course of performance of duty. Car perquisite is calculated as per Income Tax Rules.

35. CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF

The Company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The Company's management reasonably does not expect that these legal actions, when ultimately concluded and determined, will have material effect on the Company's results of operations or financial condition. The Company does not expect any reimbursement in respect of these contingent liabilities.

*The company is contesting these demands and the management, based on advise of its advisors, believes that its position will likely be upheld in the appellate process. No expense has accrued in the standalone financial statements for these demands raised. The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the company's financial position and results of operations. The company does not expect any reimbursements in respect of the above contingent liabilities.

In addition, the company is subject to legal proceedings claims, which have arisen in the ordinary course of business. The company's management reasonably does not expect that outcome of these legal proceeding etc., when ultimately concluded and determined, will have adverse material effect on the company's results of operations or financial condition.

36. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company's principal financial liabilities comprise borrowings, Security Deposits Received, 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, trade and other receivables, cash and cash equivalents and security deposits that are out of regular business operations. The Company’s activities expose it to a variety of financial risks: credit risk, liquidity risk and market risk. In order to manage the aforementioned risks, the Company operates a risk management policy and a programme that performs close monitoring of and responding to each risk factors. The company’s senior management oversees the management of these risks.

(a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument that will fluctuate because of changes in market prices. Market risk comprises three types of risk i.e. interest rate risk, currency risk and other price risk, such as commodity risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return, i. Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of the Company’s financial instruments will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rate relates primarily to the Company's borrowings from Banks with floating interest rates / volatility in rupee value against foreign currency fluctuations. The unsecured loans from related parties constitute a significant portion of total borrowings and is not subject to volatility in the rate of borrowings.

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on borrowings affected. With all other variables held constant, the Company’s profit before tax is affected through the impact on floating rate borrowings, as follows:

.. _r . _______... (All amounts in < lakns, unless otnerwise stated)

ii. Foreign currency risk ¹ ’

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. Company deals in import of health equipment and exports sports goods. Adverse changes in rupees due to imports are partially off set by exports and company is able to pass on the increase in price of imports to the customers. In view of the insignificant risk, sensitivity analysis showing impact on profit is not calculated. During the year company earned currency fluctuation gain of ? 46.46 lakhs (previous year? 59.72 lakhs).

iii. Commodity price risk

The company does not have significant risk in raw material price variations. In case of any variation in price, the same is normally passed on to customers through appropriate adjustment to selling prices.

(b) Credit risk

Credit risk is the risk of loss that may arise on outstanding financial instruments if a counter party default on its obligations. The company’s exposure to credit risk arises majoriy from trade and other receivables. Other financial assets like security deposits and bank deposits are paid against import consignments. Company has good past track record of recovery from trade receivables. Defaults in past have been very few and too less.

(c) Liquidity risk

The Company's objective is to maintain a balance between continuity of funding and flexibility through the use of bank borrowings, unsecured loans from directors on a continuous basis and security from dealers. The table below summarises the maturity profile of the Company’s financial liabilities:

37. CAPITAL MANAGEMENT

For the purpose of the Company’s capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity shareholders. The primary objective of the Company's capital management is to ensure that it maintains a good credit rating and capital ratios in order to support its business and maximise shareholder value. The Company monitors capital using a gearing ratio, which is net debt divided by total capital. The Company includes within net debt, all non-current and current borrowings reduced by cash and cash equivalents and other bank balances.

Gearing Ratio (A/B) 1.12 1.12

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing borrowings that define capital structure requirements. The breaches in meeting the financial covenants would permit the bank to immediately call borrowings. There have been no breaches in the financial covenants of any interest-bearing borrowings in the current year. No changes were made in the objectives, policies or processes for managing capital during the years ended March 31,2024 and March 31,2023.

40. ADDITIONAL Notes and relevant regulatory information (Other than disclosed in Notes):

40.1 (a) The operating cycle of the company is assumed to be of twelve months in absence of clearly identifiable normal operating cycle and accordingly assets / liabilities have been classified as current / non current.

(b) No impairment exercise is conducted in absence of internal / external indicators.

40.2 Cosco Polymer Lanka (Private) Ltd. (erstwhile Subsidiary of the Company in Sri Lanka) has been ordered to be wound up by the Hon’ble High Court of the Western Province, Colombo. Accordingly, "Consolidated Financial Statements" as per Ind AS 110, have not been prepared.

40.3 The Equity Shares held by the Company in Cosco Polymer Lanka (Private) Ltd. (erstwhile Subsidiary of the Company in Sri Lanka) stand vested in the Secretary to the Treasury of the Government of Sri Lanka under the Revival of Underperforming Enterprises or Underutilised Assets Act No.43 of 2011 (of Republic of Sri Lanka) as per disclosures made in the earlier year Accounts. Competent Authority appointed under the said Act is controlling, administering and managing such Enterprises / Units / Assets. The Act (of Sri Lanka), provides for payment of compensation and accordingly claim was filed in Sri Lanka with the Compensation Tribunal constituted under the said Act. The Compensation Tribunal vide its letter Ref: Com T/01/27 dated 08.12.2015, has allowed compensation of LKR 480 lakhs (Equivalent INR 204.66 lakhs) and after deducting LKR 16.74 lakhs due for Board of Investment (BOI) of Sri Lanka as at the date of vesting, the net compensation payable is LKR 463.26 lakhs (Equivalent INR 197.52 lakhs). The amount is yet to be released and the same shall be credited to Liquidator, since Cosco Polymer Lanka (Private) Ltd. has been ordered to be wound up by the Hon’ble High Court of the Western Province, Colombo. The management does not expect any net realisable value of its investment in the erstwhile subsidiary. However realisation, if any, shall be accounted for in the year of actual receipt.

40.4 The Appraising Officer - Assistant commissioner (Gr. VI), ICD Import, Tughlakabad, New Delhi vide order No. 141/2019/S K Gupta/AC/Import/ICD/TKD dated 01.11.2019 adjudicated Additional Custom demand of? 5.31 lakhs (including Interest) in respect of various years 2011-12 to 2017-18 on account of non-inclusion of various expenses (post import) like advertisement & sales promotion for the purpose of computing the assessable value of imports of foreign Brand goods, under the Customs Act, 1962 and Valuation Rules framed thereunder. The Additional Custom Duty Demand has since been paid voluntarily by the Company ? 4.87 lakhs during F.Y 2016-17 and ? 0.44 lakhs during F.Y 2018-19. By issuing Corrigendum dated 16.07.2019 demand was reduced to? 2.34 lakhs. The Principal Commissioner of Customs, ICD, Import, Tughlakabad, has filed Appeal before Commissioner of Customs (Appeals), New Delhi, against the said Order for remanding back the case to the department authority to re-adjudicate the case by considering the Corrigendum dated 16.07.2019 to the Demand cum Show Cause Notice and inter-alia other issues. It has been advised to the company that there would not be any significant liability on this account rather it is expected to receive back the refund of the amount already paid in the earlier years, the company has not recognised any contingent refund during the year / earlier years on this account.

41- Additional Regulatory Information:

41.1 The company has not revalued its PPE (including ROU asset) and intangible assets and hence disclosure regarding basis of revaluation is not applicable. Company does not have any investment in property.

41.2 There is no charge or satisfaction of any charge which is not registered with ROC beyond the statutory period.

41.3 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 on behalf of the Ultimate Beneficiaries.

41.4 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.

41.5 No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

41.6 The company has not granted any loans or advances in the nature of loans to promoters, directors, KMP and the related parties either severally or jointly with any other person which is either repayable on demand or without specifying any terms or period of demand and therefore requirement of disclosure of such loan / advance is not applicable.

41.7 The company has complied with the number of layers prescribed under clause (87) of section 2 of the act read with companies (restriction on number of layers) rules 2017.

41.8 Company has not applied any accounting policy retrospectively or has made a restatement of items in Financial Statement or has reclassified items in the Financial Statement.

41.9 The company has not done any transaction with struck off companies during the year and therefore no balance whether payable / receivable / investment in securities or shares of the company held by such struck off companies or any other outstanding exist on the balance sheet date.

41.10 The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year,

41.11 The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

41.12 There are no Regulatory Deferral Account Balances that need to be disclosed as per Ind AS 114.

42. Previous year figures have been reclassified / regrouped wherever necessary to confirm with those of current year figures.