a) There are no sales or purchases of long term investments during the year.

b) The company has resigned from the Partnership with White Mountain w.e.f.29.06.2020. Deed of Retirement to the effect is executed among the partners and share of profit/(Loss) till the date of retirement of partnership is credited to Partners Current Account. The Company has received entire balance reflecting in Capital Account along with interest as applicable.

c) As per the Partnership Deed executed in case of Shree Balaji Associates, no interest is payable/Receivable from partners on outstanding Capital balances.

(i) Witholding taxes and Balance with Revenue Authorities primarily consist pre-paid taxes and amounts paid under protest in respect of demands and claims from various revenue authorities of India.

(ii) Advance receivable in cash or kind primarily include fees paid under protest to Gujarat Maritime Board (GMB) in respect of demand raised by

In determining allowance for doubtful debts, the Company has used the practical expedient by computing the expected credit loss allowance based on a provision matrix. The provision matrix takes into account historical credit loss experience and is adjusted for forward looking information. The expected credit loss allowance is based on ageing of the receivables and rates used in the provision matrix.

2. Details of Security:

a. Cash Credit facility from Punjab National Bank CC-1040 is secured by way of hypothecation of Stocks & book debts of the company as primary security and equitable mortgage of immovable property of the company & associated concern as collateral security.

b. Bank overdraft facility from Punjab National Bank OD-376097 is secured by way of equitable mortgage of immovable property of the company & associated concern as collateral security & personal guarantee of the associated concern & relatives of the key management personnels.

d) Terms/rights attached to equity shares :

- The company has only one class of equity shares having a par value of Rs.10/-. Each holder of equity share is entitled to one vote per share. The company declares and pays dividend in indian rupees. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.

During the year ended 31st March 2023, the amount of per share dividend recognised as distributions to equity shareholder was NIL per share

_- (PY Rs.NIL/-)

- Preference shareholder do not have any voting right. They are entitled to dividend @ 4% before equity shareholders.

- In the event of liquidation of the company, the holders of the Equity shares will be entitled to receive remaining assets of the company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

Notes :

I. Securities premium reserve represents premium received on equity shares issued, which can be utilised only in accordance with the provisions of the Companies Act, 2013 (the Act) for specified purposes.

II. Capital reserve represents reserve created pursuant to the business combinations.

III. General reserve is created from time to time by transferring profits from retained earnings and can be utilised for purposes such as dividend payout, bonus issue, etc.

IV. Capital redemption reserves represents created out of buyback or redemption of its own equity/preference shares, from its retained earnings. The amount in Capital Redemption Reserve is equal to nominal amount of the shares bought back.

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

3. Details of Security:

a. Cash Credit facility from Punjab National Bank is secured by way of hypothecationof Stocks & book debts of the company as primary security and equitable mortgage of immovable property of the company & associated concern as collateral security.

b. Bank overdraft facility from Punjab National Bank is secured by way of equitable mortgage of immovable property of the company & associated concern as collateral security & personal guarantee of the associated concern & relatives of the key management personnels.

The Company is subject to income tax in India on the basis of its standalone financial statements. The Company can claim tax exemptions/deductions under specific sections of the Income Tax Act, 1961 subject to fulfilment of prescribed conditions, as may be applicable. For the year ended March 31, 2022, the Company has planned to opt out for the new tax regime under Section 115BAA of the Act, which provides a domestic company with an option to pay tax at a rate of 22% (effective rate of 25.168%). The lower rate shall be applicable subject to certain conditions, including that the total income should be computed without claiming specific deduction or exemptions.

Business loss can be carried forward for a maximum period of eight assessment years immediately succeeding the assessment year to which the loss pertains. Unabsorbed depreciation can be carried forward for an indefinite period.

|Note No:- 5.2 |EMPLOYEE BENEFITS (Amount in Lacs)

A. Defined contribution plans:

Eligible employees ofthe Company are entitled to receive benefits in respectofprovidentfund, in which both employeesand theCompany make monthlycontributionsat a specified percentage of the covered employees' salary. The contributions are made to the provident fund as set up by Government.

B. Defined benefit plans:

The Company has following post employment benefits which are in the nature of defined benefit plans:

(a) Gratuity

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for payment to vested employees at retirement, death while in employment or on termination of employment in accordance with the scheme of the company. Vesting occurs upon completion of five years of service. The Company accounts for the liability for gratuity benefits payable in the future based on an actuarial valuation.

|Note No:- 5.4 |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 ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise return to stakeholders through the optimisation of the debt and equity balance.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. 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, trade and other payables, less cash and short-term deposits.

|Note No:- 5.5 [FINANCIAL RISK MANAGEMENT

In course of its business, the Company is exposed to certain financial risks that could have significant influence on the Company's business and operational/ financial performance. These include market risk (including currency risk, interest rate risk and price risk), credit risk and liquidity risk.

The Board of Directors reviews and approves risk management framework and policies for managing these risks and monitors suitable mitigating actions taken by the management to minimise potential adverse effects and achieve greater predictability to earnings. In line with the overall risk management framework and policies, the management monitors and manages risk exposure through an analysis of degree and magnitude of risks.

Market Risk

Market risk is the risk that changes in market prices, liquidity and other factors that could have an adverse effect on realizable fair values or future cash flows to the Company. The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates as future specific market changes cannot be normally predicted with reasonable accuracy.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's long-term debt obligations with floating interest rates.

The assumed movement in basis points for the interest rate sensitivity analysis is based on the currently observable market environment.

Foreign currency risk

The Company undertakes transactions denominated in foreign currencies and thus it is exposed to exchange rate fluctuations. The Company actively manages its currency rate exposures, arising from transactions entered and denominated in foreign currencies, and uses derivative instruments such as foreign currency forward contracts to mitigate the risks from such exposures. The company does not use derivative instruments to hedge risk exposure.

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and foreign

exchange transactions.

Trade receivables

Customer credit risk is managed by the Company's internal policies, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on market feedback and credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

The Company evaluates the concentration of risk with respectto trade receivables as low, as its customers are located in severaljurisdictions and operate in independent markets.

Trade receivables are non-interest bearing and are generally on 14 days to 90 days credit term. Credit limits are established for all customers based on internal rating criteria. The Company has no concentration of credit risk as the customer base is widely distributed both economically and geographically.

Liquidity Risk

The Company monitors its risk of shortage of funds through using a liquidity planning process that encompasses an analysis of projected cash inflow and outflow.

|Note No:- 5.7 |FAIR VALUE MEASUREMENTS

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Level 1 to Level 3, as described below. Except for the following, the management considers that the carrying amounts of financial assets and financial liabilities recognised in the standalone financial statements approximate their fair values:

(B) Quantitative disclosures fair value measurement hierarchy for liabilities :

Company does not have any financial liability which is measured either at Fair value through profit and loss account or measured at Fair value through other comprehensive income.

|Note No:- 5.8 |SEGMENT INFORMATION

The Company has presented segment information in the consolidated financial statements which are presented in this same annual report. Accordingly, in terms of Ind AS 108 'Operating segments', no disclosures relating to segments are presented in these standalone financial statements.

Notes:

1. The Company has ongoing disputes with income tax authorities relating to tax treatment of certain items. These mainly include disallowance of expenses, tax treatment of certain expenses claimed by the Company as deduction and the computation of or eligibility of the Company's use of certain allowances.

2. The Company has deposited Rs.25.34 Lacs (March 31,2023:Rs.25.34 Lacs) under protest agaisnt demand raised by Gujarat Maritime Board (GMB) on account of amendement fees and delayed interest.The matter is pending before the appellate authority of GMB. The company expects favourable resolution of the said appeal.

3. The Company has deposited amount under protest of Rs.18.35 Lacs (March 31, 2023 : Rs. 18.35 Lacs) in respect of various demands relating to customs and excise duty. The matters are pending before the various appellate authorities. The company expects favourable resolution of the said appeals.

4. Punjab National Bank, Large Corporate Branch, Mumbai Cuffe Parade, Mumbai, has sanctioned group exposure of Rs. 395 Crores covering specified limits for each company viz. a) Hariyana Ship Breakers Limited - Rs. 225 Crores, b) Hariyana International Private Limited - Rs. 45 Crores and c) Hariyana Ship Demolition Private Limited -Rs. 125 Crores. Since the bank sanctioned group limits, each company mentioned above stand as Corporate Gurantor to each other. All these companies are under same management.

1. During F.Y. 2023-24, the company is required to spend amount 16.97 Lacs (PY NIL) as Corporate Social Responsibility as per applicability of Section 135 of the Companies

Act, 2013.

2. During FY 2023-24 the company has spent Rs. 17.00 Lacs towards Corporate Social Responsibility. The company has made the said contribution to serve and enrich quality of life of patient suffering from diseasses through the efficient development of technology and human experise.

|Note No. 5.15 [DISCLOSURES REQUIRED UNDER SECTION 22 OF THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006:

The company has communicated suppliers to provide confirmations as to their status as Micro, Small or Medium Enterprise registered under the applicable category as per the provisions of the Micro, Small and Medium Enterprises (Development) Act, 2006 (MSMED Act, 2006). The company has classified suppliers into Micro, Small and Medium Enterprises as per the confirmations received by the company upto the date of the financial statements.

Note No. 5.16 OTHER NOTES

i) The figures for the previous year have been reclassified/ regrouped wherever necessary for better understanding and comparability.

ii) Thecompany has invested in six partnershipfirms and balance outstanding in current capital account as on March 31, 2024 is Rs.133.35 Crores (As on March 31, 2023 Rs.123.56 Crores). Persuant to partnership deed exceuted among partners of one partnership Firm no interest is payable or recoverable to or from partners on balances outstanding in current capital account.

iii) The company has given interest free advances of Rs.13.19 Crores (P.Y. Rs.13.19 Crores) for carrying business jointly with one body corporate where formal joint venture agreement is yet to be made.

iv) Balances grouped under Non Current Liabilities and Current Liabilities, Non Current Assets and Current Assets in certain cases are subject to confirmation and reconciliation from respective parties. Impact of the same, if any, shall be

accounted as and when determined.

v) In the opinion of the Management Long Term Loans and Advances, Other Non Current Assets, Current Assets and Other Current Assets fetch approximately the value as stated in the Financial Statement if realised in the ordinary course of

business subject to balance confirmation. The provision for all known liabilities is adequate and is not in excess of amounts considered reasonably necessary.