* During the financial year 2022-23, The Company has received 1% Optionally Convertible Non Cumulative Redeemable Preference Shares (“OCRPS”) in two series viz. Series A (15 Years): 66,26,160 Preference shares and Series B (20 Years) : 66,26,160 Preference shares, of ' 10 each at par, towards Sales consideration on transfer of Industrial Plot (Leasehold Land and Building) situated at Dahej, Ankleshwar, Gujarat aggregating to ' 1325.23 Lakhs to Wholly Owned Subsidiary Company.

Investment in Subsidiary:-

Investment in subsidiary are carried at cost less accumulated impairment losses, if any. Where an indication of impairment exist, the carrying amount of investment is assessed and the same is written down immediately to its recoverable amount. On disposal of investments in subsidiary, the difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit and Loss.

Investment in Associate

An associate is an entity in which the Group has significant influence but not control or joint control over the financial and operating policies. Interests in associates are accounted for using the equity method. They are initially recognised at costs. Subsequent to initial recognition, the consolidated financial statements include the Group's share of profit or loss and OCI of equity accounted investees until the date on which significant influence ceases.

*The Company has availed fund based working capital facilities viz., borrowings from State bank of India against security of current asset and overdraft facility from ICICI bank against fixed deposit. The company has also availed non-fund based working facilities from Bankers viz., Bank Guarantees and Letter of Credits, which are secured by hypothecation charge on Inventories, book debts and all other current assets of the company, as primary security and registered mortgage charge over land & building and hypothecation charge on plant & machinery as collateral security. The Quarterly Returns or the Current Assets Statements filed by the company with the Bank/Financial Institution are in the agreement with the books of account.

Right, Preferences and restrictions attached to Shares

(i) The Company has only one class of shares i.e. Equity Shares having par value of ' 10 each. Each holder of Equity Shares is entitled to one vote per share.

(ii) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the 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.

(iii) The Board of Directors of the holding company in their meeting held on 24th May, 2024 have recommended a final dividend of ' 2.50 per Equity Share (previous year ' 3 per equity share) to be approved by the shareholders in the ensuing general meeting. On approval, this will result in an outflow of ' 244.60 Lakhs (Previous year ' 293.50 Lakhs)

Description of the nature and purpose of Other Equity

General Reserve : The General Reserve comprises of transfer of profits from retained earnings for appropriation purposes. The reserve can be distributed/utilised by the Company in accordance with the provisions of Companies Act, 2013.

Retained Earnings: Retained Earnings are the profits that the Company has earned till date and is net of amount transferred to other reserves such as general reserves etc. & amount distributed as dividends and related dividend distribution taxes.

Security Premium: The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve. Security premium includes equity-settled share-based payment transactions, the difference between fair value on grant date and nominal value of share is accounted as securities premium reserve.

Reserve for equity instruments through Other Comprehensive Income : This represents cumulative gains / (losses) arising on the measurement of equity instruments at Fair Value through Other Comprehensive Income.

Equity Stock Option Reserve: Equity stock option reserve is used to recognise the fair value of equity settled share based payment transactions.

19. Trade Payables

Micro and Small enterprises have been identified by the Company on the basis of the information available. The relevant disclosures are given below :

* Payment made to suppliers beyond the due date during the year was ' Nil (P.Y. ' Nil). No interest has been paid to Micro and Small Enterprises as there were no delayed payments. Further, interest accrued and remaining unpaid at the year end is ' Nil (P.Y. ' Nil).

The revenue of ' 10.80 lakhs (P.Y. ' 54.83 lakhs) has been recognised from the carried forward contract liabilities balance as at the beginning of the year.

3. The revenue from contracts with customers for the year includes variable consideration (volume & Rate discounts) of ' 139.51 lakhs (P.Y. ' 0.50 lakhs), which has been deducted from the transaction price. The company uses expected value method in measuring the variable consideration. There were no constraints in estimating variable consideration.

4. The Company has applied practical expedient referred to in paragraph 121 of Ind AS 115 and accordingly, has not disclosed information related to remaining performance obligations. No consideration from contracts with customers is excluded from the remaining performance obligations.

37. Leases

The Company has taken certain warehouses and vehicles on rent for its business operations under leave and license agreements and rent agreements respectively. These are generally not noncancellable agreements and they are for the periods not exceeding 12 months under the said agreements. The said agreements are renewable by mutual consent on mutually agreeable terms.

The company has adopted Ind AS 116 w.e.f. 1^st April 2019. The Company has elected to apply recognition exemption permitted under the said Ind AS and accounted these leases as short-term leases. Hence, the payments in relation to these leases are recognized in the Statement of Profit and Loss on a straight-line basis over the lease term.

38. Employee Benefits

The Company has classified various employee benefits as under:

A. Defined Contribution Plans

i. Provident Fund

ii. Superannuation Fund

The Provident Fund is operated by the Regional Provident Fund Commissioner and the Superannuation Fund is administered by the LIC of India as applicable for all eligible employees. Under the schemes, the Company is required to contribute a specified percentage of payroll costs to the retirement benefit schemes to fund the benefits. These funds are recognised by the Income Tax Authorities.

B. Defined Benefit Plans

The Company operates a gratuity plan covering qualifying employees. Under the gratuity plan, the eligible employees are entitled to post retirement benefit at the rate of 15 days salary for each year of service until the retirement age of 58, subject to a payment ceiling of ' 20 lakhs. The benefit vests upon completion of five years of continuous service as per “The Payment of Gratuity Act” and once vested it is payable to the employee on retirement or on termination of employment. The Company makes annual contribution to the group gratuity scheme administered by the Life Insurance Corporation of India through its Gratuity Trust Fund.

The obligations under the compensated absences plan have been determined by Independent Actuary using Projected Unit Credit (PUC) method. Compensated absences is payable to all eligible employees on separation from the Company due to death, retirement, superannuation or resignation. At the rate of daily salary, as per current accumulation of leave days.

Gratuity is defined benefit plan and Company is exposed to following Risks:

Interest Risk :

A fall in the discount rate which is linked to the Government Securities Rate will increase the present value of the liability requiring higher provision. A fall in the discount rate generally increases the mark to market value of the assets depending on the duration of asset.

Salary Risk :

The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the plan's liability.

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. If the return on plan asset is below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of investments in government securities, and other debt instruments.

Mortality Risk :

Since the benefits under the plan is not payable for the life time and payable till retirement age only, plan does not have any longevity risk.

viii. The expected rate of return on plan assets is determined after considering several applicable factors such as the composition of the plan assets, investment strategy, market scenario, etc.

ix. The discount rate is based on the prevailing market yields of Government of India securities as at the balance sheet date for the estimated term of the obligations.

x. The estimate of future salary increases considered, takes into account the inflation, seniority, promotion, increments and other relevant factors.

Notes on Sensitivity Analysis

i. Sensitivity analysis for each significant actuarial assumptions of the Company which are discount rate and salary assumptions as of the end of the reporting period, showing how the defined benefit obligation would have been affected by changes is presented in the table above.

ii. In presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit obligation as recognised in the balance sheet.

iii. There is no change in the method from the previous period and the points /percentage by which the assumptions are stressed are same to those in the previous year.

39. Information on Segment Reporting as per Ind AS 108 on “Operating Segments”

Operating Segments are those components of business whose operating results are regularly reviewed by the Chief Operating Decision making body in the Company to make decisions for performance assessment and resource allocation. The Company has identified two reportable segments, Speciality Chemicals and Trading in fruits & vegetables in terms of Ind AS 108 on “Operating Segments during F.Y 23-24.

This section gives an overview of the significance of financial instruments for the Company and provides additional information on balance sheet items that contain financial instruments.

The details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument are disclosed in note 2 to the financial statements.

The carrying value of Financial Assets and Financial Liabilities measured at amortised cost approximates to their fair values.

(b) Capital Management

The company's objective when managing capital is to:

- Safeguard its ability to continue as a going concern so that the Company is able to provide maximum return to stakeholders and benefits for other stakeholders.

- Maintain an optimal capital structure to reduce the cost of capital.

The Company's Board of Directors reviews the capital structure on a regular basis. As part of this review, the Board considers the cost of capital, risk associated with each class of capital requirements and maintenance of adequate liquidity.

Fair Value Measurement:

This note provides information about how the Company determines fair values of various financial assets.

Fair value of the Company’s financial assets / financial liabilities that are measured at fair value on a recurring basis

Some of the Company's financial assets are measured at fair value at the end of each reporting period. The following table gives information about how the fair values of these financial assets are determined.

Fair value of financial assets and financial liabilities that are not measured at fair value (but fair value disclosures are required)

Management considers that the carrying amounts of financial assets and financial liabilities recognised in the financial statements (except fair value of investments in equity instruments and Derivatives - Forward Contracts) approximate their fair values.

There has been no transfers between level 1, level 2 and level 3 for the years ended 31^st March, 2024.

2. Disclosure related to Derecognition of investments in equity instruments measured at fair value through other comprehensive income during the reporting period;

(a) the reasons for disposing of the investments - The company has not disposed of certain long term investments in equity instruments in current year.

(b) the fair value of the investments at the date of derecognition - Sale Price on the date of sale.

(c) the cumulative gain or loss on disposal - Gain on disposal ' NIL (P.Y Loss ' 4.22 Lakhs)

The Company's financial risk management is an integral part of how to plan and execute its business strategies. The risk management policy is approved by the Company's Board. The Company's principal financial liabilities comprise of borrowings (if any), trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations and to provide guarantees to support its operations in selective instances. The Company's principal financial assets include trade and other receivables, and cash and cash equivalents that derive directly from its operations and investments. The company is exposed to market risk, credit risk, liquidity risk etc. The objectives of the Company's financing policy are to secure solvency, limit financial risks and optimise the cost of capital. The Company's capital structure is managed using equity and debt ratios as part of the Company's financial planning.

(a) Market risk:

Market risk is the risk that changes in market prices- such as foreign exchange rates, interest rates and equity prices- will affect the Company's income or the value of its holdings of financial instrument. The objective of market risk management is to manage and control market risk exposures within acceptable parameters while optimising the return. The major components of market risk are foreign currency risk, interest rate risk and price risk.

(I) 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 undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise.

Foreign Currency Sensitivity:

The Company is principally exposed to foreign currency risk against USD. Sensitivity of profit or loss arises mainly from USD denominated receivables and payables.As per management's assessment of reasonable possible changes in the exchange rate of /- 5% between USD-INR currency pair, sensitivity of profit or loss only on outstanding foreign currency denominated monetary items at the period end is presented below:

Forward foreign exchange contracts

It is the policy of the Company to enter into forward foreign exchange contracts to cover foreign currency payments in USD. The Company enters in to contracts with terms up to 120 days.

Forward cover is obtained from bank for each of the aggregated exposures and the Trade deal is booked. The forward cover deals are all backed by actual trade underlines and settlement of these contracts on maturity are by actual delivery of the hedged currency for settling the underline hedged trade transaction.

(II) Interest rate risk:

The Company invests the surplus fund generated from operations in bank deposits . Bank deposits are made for a period of up to 12 months and carry interest rate of 5%-7.25% as per prevailing market interest rate. Considering these bank deposits are short term in nature, there is no significant interest rate risk. There is no significant utilisation of borrowings.

(III) Price risk:

The Company's equity securities price risk arises from investments held and classified in the balance sheet at fair value through OCI. The Company's equity investments in Securities are publicly traded.

Price sensitivity analysis:

The sensitivity of profit or loss in respect of investments in equity shares at the end of the reporting period for /-5% change in price and net asset value is presented below:

Other comprehensive income for the year ended 31^st March, 2024 would increase / decrease by ' 72.16 Lakhs (P.Y. ' 66.51 Lakhs) as a result of 5% changes in fair value of equity investments measured at FVTOCI.

(b) Credit risk:

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults. The Company's exposure and wherever appropriate, the credit ratings of its counterparties are continuously monitored and spread amongst various counterparties. Credit exposure is controlled by counterparty limits that are reviewed and approved by the management of the Company. Financial instruments that are subject to concentrations of credit risk, principally consist of balance with banks, investments in equity instruments and trade receivables.

None of the financial instruments of the Company result in material concentrations of credit risks, which may result into financial loss for the company.

(c) Liquidity risk:

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets & liabilities and monitoring balance sheet liquidity ratios.

The information included in the tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company may be required to pay. The tables include both interest and principal cash flows. The contractual maturity is based on the earliest date on which the Company may be required to pay.

43. Employee Stock Option

At the 45th Annual General Meetingthe of the Company held on July 20, 2021members of the company passed a special resolution to introduce and implement Company's Employees Stock Option Scheme called “DACL - Employees Stock Option Plan 2021” (‘the Scheme'). Thereafter during the year under review, the Company has received in-principle approval of 2,00,000 shares from the BSE Limited on December 16, 2021.

During the year, the Company has granted 2127 (Grant 8) Stock Option (Previous year: stock options 9060 grant 1 to 7) to the employees as Reward/Joining bonus for the year ended March 31, 2024. During the year ended 31^st March, 2024. The Company has charged to statement of profit and loss as Employee benefit Expenses of ' 6.51 Lakhs (P.Y. ' 7.42 Lakhs) and the balance in employee share option oustanding a/c as at March 31,2024 is ' 2.76 lakhs. (March 31,2023'7.42 lakh)

4. Vesting Condition

Vesting shall be computed through past performance (Reward Option plan) and future Performance (Retention option plan) evaluation method based on conditions Pre-communicated to employees. Vesting of the Stock Options may commence after the expiry of a minimum period of 1 (one) year from the date on which the options were granted, and may extend up to such time as may be decided at the discretion of the Committee from the date of grant provided that the vesting period shall not exceed 5 (five) years.The vesting may occur in tranches, and may be subject to such terms and conditions of vesting, as may be stipulated by the Committee, in its sole and exclusive discretion.

44. The Company does not have any Immovable Property whose title deeds are not held in the name of the Company.

45. The Company does not have any transactions with struck-off companies.

46. The company has sought balance confirmations from trade receivables and trade payables, wherever such balance confirmations are received by the Company, the same are reconciled and appropriate adjustments if required, are made in the books of account.

47. The previous year's figures have been regrouped/rearranged wherever necessary to make it comparable with the current year.

48. Approval of Standalone Financials Statements

The Standalone Financial Statements were approved for issue by the Board of Directors on 24^th May, 2024. (adjourned)