1. The Company has increased its authorised share capital from INR 10 crores to INR 25 crores on 16 December 2023.

2. The Company has issued 66.50 lakhs bonus shares dated 29th December 2023 to its existing shareholders as 7 shares for every 10 shares held as on record date 20th December 2023, effect of this bonus issue has been considered to calculate EPS.

(d) The company has only one class of shares referred to as equity shares having at par value Rs. 10/- each holder of equity shares is entitled to one vote per share. In the event of liquidation, the ordinary shareholders are entitled to receive the remaning assets of the company after payment of all prefrential amounts, in proportion to their shareholdings.

(e) The Company does not have any Holding Company/ Ultimate Holding Company.

(f) No Ordinary Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvstments as at the Balance Sheet date.

(g) No Shares have been bought back by the company during the period of 5 years precceding the date as at which the Balance Sheet is prepared.

(h) No Securities converted into Equity/preference Shares have been issued by the Company during the year.

(i) No Calls are unpaid by any Director or Officer of the Company during the year.

(j) Further there are no shares that have been alloted by the Company without payment being received in cash, or by way of bonus shares as on Balance Sheet date except as disclosed in note (c) above.

5.1 Term Loans & Working capital facilities are from HDFC Bank Limited. The term loans are secured by hypothecation of first charge on land and building at Khasra No. 1106-1109, Revenue Village-Bhilwada, Lakhawali, Udaipur (Rajasthan) - 313011 and movable properties including machineries, current assets such as inventories, book debts and other receivables of the company, both present and future besides personal guarantee of the directors.

5.2 Finance Lease Obligations:

Finance lease obligations are repayable in equated monthly instalments. The assets acquired on finance lease mainly comprise vehicles. The lease has a primary period, which is fixed and non-cancellable. Finance leases are secured by hypothecation of respective assets purchased out of finance.

Term Loans & Working capital facilities are from HDFC Bank Limited. The term loans are secured by hypothecation of first charge on land and building at Khasra No. 1106-1109, Revenue Village-Bhilwada, Lakhawali, Udaipur (Rajasthan) - 313011 and movable properties including machineries, current assets such as inventories, book debts and other receivables of the company, both present and future besides personal guarantee of the directors.

9.3 The information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company, regarding the status of registration of such vendor under the said Act, as per the intimation received from them on the request made by the company. Further, In the opinion of the management, the impact of interest, if any,that may be payable in accordance with the provisions of the Act, is not expected to be material.

a1 The Company has received orders dated 30 October 2023 from Central Goods and Service Tax (CGST) Department, Udaipur for the wrong availment of Input tax credit amounting INR 181.44 lakhs for financial year 2018-19, 2019-20 and 2020-21 plus an equal amount of penalty. The Company has filed appeal against these order with the Honorable Appellate Authority CGST, Jodhpur on 25 January 2024 and the management believes that basis of ground of appeals, the chances of quashing the order are higher than confirmation of order by the Honorable Appellate Authority CGST, accordingly, no liability has been provided.

a2 The Company has received orders dated 24 April 2024 from State Goods and Service Tax (SGST) Department, Udaipur for the wrong availment of Input tax credit amounting INR 11.08 lakhs for the financial year 2018-19 plus INR 10.55 lakhs for interest and others. The Company will file appeal against these order within due date with the Honorable Appellate Authority and the management believes that basis of ground of appeals, and the chances of quashing the order are higher than confirmation of order by the Honorable Appellate Authority, accordingly, no liability has been provided.

(b) Commitments

The Company has imported plant and machinery under EPCG scheme without paying custom duty, as a consequences in the event that certain terms and conditions are not fulfilled, the company is committed to pay the consequential taxes, levies etc. The Company has issued required Bank Guarantee in favour of DGFT (Director General of Foreign Trade) against the same. The outstanding bank guarantee as on 31 March 2024 is INR 100.70 lakhs (31 March 2023 : INR 100.70 lakhs). The total export obligation against these licenses is USD 86,08,560 (31 March 2023: USD 7,980,089). The Company has completed obligations under some of the licenses and redemption is under process.

30 Operating leases

The company has operating leases for land and residential premises for its staff, these are renewable on a periodic basis The Compan^e has recognised expenses in current: year ^m 39.1° lakhs (PY: ^ 16.67 lakhs) against these leases. Since these leases are for a short-term, no further disclosures are required.

33 The Company's export sales are mainly on FOB basis and hence revenue is recognized based on date of Bill of Lading. As at 31 March 2024, for dispatches accumulating INR 663.54 lakhs the Bill of Lading were dated post 31st March 2024, accordingly same is not recognized as revenue for the year ended 31 March 2024. Similarly, for the year ended 31 March 2023, the value of such dispatches were INR 563.45 lakhs which is recognized as revenue in current period.

34 The Company has issued cheques of INR 764.55 lakhs to various vendors dated on or before 31.03.2023, however these were not presented by the vendors till 31.03.2023. Accordingly, those are accounted in Bank Overdraft and Trade Payables etc. were reduced to that extent. The Company has also maintained its records in the Bank Reconciliation Statement as on 31.03.2023.

35.1 #Explanation for change in the ratios by more than 25%:

(b) The Debt-Equity ratio has decreased, as Shareholders' fund has increased due to profits and debt is also reduced due to repayment of term loans and working capital loans remain in line with previous year. Accordingly, the gap between shareholders' fund and borrowings has increased which has reduced the debt-equity ratio.

(c) The Debt Service Coverage ratio has increased, as Company's Operating Profits have increased in current year and were reduced due to lower sales, lower realisation and higher fixed cost in previous year.

(d) The Return on Equity has increased drastically as Company's operations were consistent during the current period and last year the margins were really low due to inconsistent operations.

(g) The Trade payable turnover ratio is increased, as Company's is purchasing with lower credit period as compare to previous years and also during last year, the level of trade payables were in line during the year but purchases were lower due to lower sales.

(h) The Net Capital Turnover Ratio is increased as the average net working capital has reduced during the current year and also there is growth in sales as compared to previous year.

(i) The Net Profit ratio is increased as net profit is increased due to consistent sales in current year. The Company has achieved growth of 20% in its revenue as compare to last year and also company's other income due to interests and foreign exchange fluctuation has increased. Also in last year the business was slow down for few months and hence Company was unable to maintain the profits last year and last year net profit was exceptional low.

(j) The Return on Capital Employed has increased drastically as Company's operations were consistent during the current year and last year the margins were really low due to inconsistent operations.

36 Disclosures as per amendments in Schedule III of Companies Act,2013 with notification issued on 24th March 2021:

Information required against additional disclosures as per amendments in Schedule III of Companies Act, 2013 are as under:-

(a) Title deeds of Immovable Property not held in name of the Company (Para a(ii)(XIII)(Y)(i))

There are no immovable properties owned by the company whose title deeds are not held in its name.

(b) Revaluation of Property, Plant & Equipment (Para a(ii)(XIII)(Y)(ii))

During the year under review the company has not revalued its property, plant & Equipment (Including right of use assets).

(c) Loan & Advance made to promoters, directors, KMPs and other related parties (Para a(ii)(XIII)(Y)(iii))

The Company has not provided any loans and advance to the parties covered under this clause other than those disclosed under note number 28.

(d) Details of Benami property held (Para a(ii)(XIII)(Y)(vi))

No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(f) Willful Defaulter (Para a(ii)(XIII)(Y)(viii))

The company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

(g) Relationship with struck of Companies (Para a(ii)(XIII)(Y)(ix))

There are no transactions (Including Investment in Securities / Shares held by Struck off company & Other Outstanding balances) with companies struck off u/s 248 of the Companies Act 2013, or section 560 of the Companies At, 1956.

(h) Registration of charges and satisfaction with Registrar of Companies (Para a(ii)(XIII)(Y)(x))

There are no charges or satisfaction of charges which are yet to be registered with Registrar of Companies beyond the statutory period.

(i) Compliance with number of layers of companies (Para a(ii)(XIII)(Y)(xi))

The company has not made violation of requirements related to number of layers of companies as prescribed under clause 87 of Section 2 read with Commpanies (Restriction of number of Layeers) Rules 2017.

(j) Compliance with approved Scheme(s) of Arrangements (Para a(ii)(XIII)(Y)(xiii))

Not applicable

(k) Utilization of Borrowed funds and share premium (Para a(ii)(XIII)(Y)(xiv))

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(l) Undisclosed Income (Para a(iii)(ix))

Company has not surrendered or disclosed any transaction which was not recorded in the books of accounts as income during the year in the tax assessment under the Income Tax Act.

(m) Details of Crypto Currency or Virtual Currency (Para a(iii)(xi))

The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

37 Disclosures related to employee benefits

The Company has classified various employee benefits as under:

A Defined contribution plans

i) Provident Fund

ii) Employer's Contribution to Employee State Insurance Corporation (ESIC)

The Provident fund and Pension scheme are operated by regional PF Commissioner. Under the scheme, the Company is required to contribute a specified percentage of payroll cost to the retirement schemes to fund the benefits.

39 The Company's finished goods are eligibile for RODTEP (Remission of Duties or Taxes on Export Products Scheme) since 01 January 21, however these benefits are in form e-scrip which are freely transferrable. To get these e-scrips in account, the Company should have an E-Scrip account with ICEGATE. The Company's RODTEP E-Scrip account was activated in December 2022 and accordingly the RODTEP export incentive is accounted from 01 January 21 to 31 March 2023 is accrued/ deemed to be accrued in previous year. The balance of RODTEP scrips/ scrips to be issued is recognized as Export Incentive Receivable under Short-term loans and advances.

40 The Company has incorporated a foreign subsidiary in name of Haique Stones Inc in the United States Of America (USA). The Company has subscribed for 10,000 shares of USD 1 each. These equity shares are shown under investments. However, the remittance for the same has been through an Authorised Bank in May'2023 after getting approval from Reserve Bank of India (RBI), accordingly the payable amount as at 31 March 2023 is shown in Other Current Liabilities under Creditors for Capital Items.

41 The Company has been sanctioned, working capital limits in excess of Rs. 5 Crore from Bank/ Financial Institution on the basis of security of current assets etc., during the year, the company has submitted the statement of stock and book debts which are in agreement with books of accounts, except minor immaterial discrepancies.

42 Previous year's figures have been regrouped, rearranged and reclassified, wherever considered necessary, and are rounded off to nearest lakhs, in order to confirm to the current year's presentation.