(i) Provision and contingent liabilities

A provision is recognised when the Company
has a present obligation as result of a past event
and it is probable that the outflow of resources
will be required to settle the obligation, in respect
of which a reliable estimate can be made. These
are reviewed at each balance sheet date and
adjusted to reflect the current best estimates.

Contingent liabilities are disclosed when there is
a possible obligation arising from past events, the
existence of which will be confirmed only by the
occurrence or non-occurrence of one or more
uncertain future events not wholly within the
control of the Company or a present obligation
that arises from past events where it is either
not probable that an outflow of resources will
be required to settle the obligation or a reliable
estimate of the amount cannot be made.

Contingent liabilities are not recognised in the
financial statements. Contingent assets are
neither recognised nor disclosed in the financial
statements.

(j) Revenue recognition
Sale of products

Revenue from sale of products is recognised
when the control on the goods have been
transferred to the customer. The performance
obligation in case of sale of product is satisfied at
a point in time i.e., when the material is shipped
to the customer or on delivery to the customer
and there is no continuing effective control or
managerial involvement with the goods, and the
amount of revenue can be measured reliably.
Revenue from operations is disclosed exclusive
of goods and services tax (GST).

Government Grants

Export incentive entitlements are recognised
as income when there is reasonable assurance
to receive that Company will comply with the
conditions attached to them and it is established
that incentive will be received.

Government grants relating to income are
recognised in statement of profit and loss on
a systematic basis over the periods in which
the Company recognises as expenses, the
related costs for which grants are intended to
compensate.

Other Income

Other income is accounted for on accrual basis
as and when the right to receive arises.

(k) Employee benefits

Short-term employee benefits

All employee benefits falling due within twelve
months of the end of the period in which the
employees render the related services are
classified as short-term employee benefits, which
include benefits like salaries, wages, short term
compensated absences, performance incentives,
etc. and are recognised as expenses in the period
in which the employee renders the related service
and measured accordingly.

Defined contribution plans

A defined contribution plan is a post-employment
benefit plan under which an entity pays fixed
contributions into a separate entity and will
have no legal or constructive obligation to pay
further amounts. Obligations for contributions
to defined contribution plans are recognised as
an employee benefit expense in the statement
of profit and loss in the periods during which the
related services are rendered by employees. The
Company makes specified contributions towards
the following schemes:

Employees' State Insurance (ESI)

The Company has a scheme of state insurance
for its employees, registered with the regional
state insurance commissioner. The Company’s
contribution to the state insurance is charged to
the statement of profit and loss every year.

Employees' Provident Fund (EPF)

All directly recruited employees of the Company
are entitled to receive benefits under the provident
fund, a defined contribution plan. Both employee
and employer make monthly contribution to
the plan at a predetermined rate of employee’s
basic salary and dearness allowance. These
contributions to provident fund are administered
by the provident fund commissioner. Employer’s

Contribution to provident fund is expensed in
the statement of profit and loss as and when
incurred.

Labour Welfare Fund

The Company makes contribution to labour
welfare fund scheme in accordance with Labour
Welfare Fund Act. The Company’s contribution to
the welfare fund is charged to the statement of
profit and loss every year.

Retirement benefit obligations

Retirement benefit obligations are classified into
defined benefits plans and defined contribution
plans as under:

Defined Gratuity Plans

The Company pays gratuity to the employees
whoever has completed five years of service
with the Company at the time of resignation/
superannuation. The gratuity is paid @15 days
salary for every completed year of service as per
the Payment of Gratuity Act 1972.

Compensated absences

As per the Company’s policy, eligible leaves can
be accumulated by the employees and carried
forward to future periods to either be utilised
during the service, or encashed. Encashment
can be made during service, on early retirement,
on withdrawal of scheme, at resignation and
upon death of the employee. Accumulated
compensated absences are treated as other
long-term employee benefits. The Company’s
liability in respect of other long-term employee
benefits is recognised in the books of account
based on actuarial valuation using projected unit
credit method as at Balance Sheet date by an
independent actuary. Actuarial losses/gains are
recognised in the Statement of Profit and Loss in
the year in which they arise.

The plan provides for a lump sum payment to
vested employees at retirement, death while in
employment or on termination of employment of
an amount based on the respective employee’s
salary and the tenure of employment. The liability

in respect of Gratuity is recognised in the books
of accounts based on actuarial valuation by an
independent actuary.

Actuarial valuation

The liability in respect of all defined benefit plans
is accrued in the books of account on the basis of
actuarial valuation carried out by an independent
actuary using the Projected Unit Credit Method,
which recognises each year of service as giving
rise to additional unit of employee benefit
entitlement and measure each unit separately
to build up the final obligation. The obligation
is measured at the present value of estimated
future cash flows. The discount rates used for
determining the present value of obligation
under defined benefit plans, is based on the
market yields on Government securities as at
the Balance Sheet date, having maturity periods
approximating to the terms of related obligations.

Re-measurement

Benefit plans in respect of retirement benefits are
charged to the Other Comprehensive Income.

The Company’s retirement benefit obligation
is subject to a number of judgement including
discount rates, inflation and salary growth.
Significant judgement is required when setting
these criteria and a change in these assumptions
would have a significant impact on the amount
recorded in the Company’s balance sheet and the
statement of profit and loss. The Company sets
these judgements based on previous experience
and third party actuarial advice.

(l) Finance costs

Borrowing costs include exchange differences
arising from foreign currency borrowings to the
extent they are regarded as an adjustment to the
interest cost. Borrowing costs that are directly
attributable to the acquisition or construction of
qualifying assets are capitalised as part of the
cost of such assets. A qualifying asset is one that
necessarily takes substantial period of time to
get ready for its intended use.

All other borrowing costs are charged to the
Statement of Profit and Loss for the period for
which they are incurred. Interest free loan taken
from promoters and others has been derived
on basis of fair value based on market rate of
interest prevailing when loan and derived to the
total tenure of loan. The interest for the period is
charged to the statement of profit and loss.

(m) Earnings per share

Basic earnings per share is calculated by dividing
the net profit attributable to equity shareholders
of the Company.

For calculating diluted earnings per share, the
net profit or loss for the year attributable to
equity shareholders and the weighted average
number of shares outstanding during the year
are adjusted for the effects of all dilutive potential
equity shares.

(n) Dividends

The Company recognises a liability to make
dividend distributions to equity holders of the
Company when the distribution is authorised and
the distribution is no longer at the discretion of
the Company. As per the corporate laws in India a
distribution is authorised when it is approved by
the shareholders, However, Board of Directors of
a Company may declare interim dividend during
any financial year out of the surplus in statement
of profit and loss and out of the profits of the
financial year in which such interim dividend is
sought to be declared. A corresponding amount
is recognised directly in equity.

(o) Foreign Currency Transactions
Initial Recognition

Foreign currency transactions are recorded in
the reporting currency, by applying to the foreign
currency amount the exchange rate between the
reporting currency and the foreign currency at the
date of the transaction.

Conversion

Foreign currency monetary items are reported
using the closing rate. Non-monetary items
which are carried in terms of historical cost
denominated in a foreign currency are reported
using the exchange rate at the date of the
transaction.

Exchange Differences

Exchange differences arising on the settlement
of monetary items or on restatement of reporting
Company’s monetary items at rates different
from those at which they were initially recorded
during the year or reported in previous financial
statements, are recognised as income or as
expenses in the year in which they arise.

Company came with a Bonus Issue and alloted 84852092 bonus equity shares to the members who were
shareholders of the Company on record date i.e., on September 07, 2023 in the ratio of 1:1 and reserved the
Bonus shares for outstanding convertible securities in the same ratio. Accordingly, the Warrant holders who
paid the balance conversion money were also credited with the Bonus Shares in the ratio of 1:1, apart from
conversion of their warrants into Equity Shares. Further, against 25000000 warrants alloted by the Company
on February 02, 2024, during the FY 2024-25 Company has not received balance conversion money from any
of the Allottee. During the year, on July 23, 2024 Company alloted 14218009 Equity Shares of Face Value of
Rs. 2 each to the Qualified Institutional Buyers at the Issue Price of Rs. 211/- per share including a premium
of Rs. 209/- per share. Consequent to these allotments, the paid up capital of the Company increased to Rs.
39,30,81,630 divided into 196540815 Equity Shares of Rs. 2/- each. Later on, the Board of Directors of the
Company in its’ meeting held on October 03, 2024 approved to Split/sub-divide 1 (One) Equity Share of the
Company having Face Value of Rs. 2/- each into 2 (Two) Equity Shares of the Company having Face Value of
Rs. 1/- each fully paid-up. Consequently, the paid up capital of the Company got revised to 393081630 Equity
Shares of Rs. 1/- each and it was same until the end of financial year 2024-25.

2. As at March 31,2024: Out of the 12808350 warrants allotted by the Company on March 03, 2023, total 4163323
equity shares were issued pursuant to conversion of warrants at a face value of Rs. 2/- each during the
financial year 2023-24. On September 11, 2023, the Company had allotted 84852092 bonus equity shares to
the members who were shareholders of the Company on record date i.e., on September 07,2023 in the ratio of
1:1 and reserved the Bonus shares for outstanding convertible securities in the same ratio. As a result, the paid
up share capital of the Company rose to Rs. 3,540.22 Lacs divided into 177010830 Equity shares of face value
of Rs. 2/- each as at the end of financial year 2023-24.

(b) Terms of Rights, preferences and restrictions attached to equity shares:

The Company has only one class of equity shares having a face value of Rs. 1/- each. Each holder of equity shares is
entitled to 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.

Notes:

(e) the Company has issued bonus shares in the ratio of 1:1 upon the converted warrants during the financial year 2024¬
25.

(f) the Company has not made any buy back of shares during the 5 years preceding March 31,2025.

(g) There are no (Previous year - No) rights, preference and restriction attaching to each class of shares including
restriction on the distribution of dividend and the repayment of capital. There are nil number of shares (Previous year
Nil) in respect of each class in the Company held by its holding company or its ultimate holding company including
shares held by or by subsidiary or associates of the holding company or the ultimate holding company in aggregate.

(h) As on March 31, 2025, Out of the 12808350 warrants allotted by the Company on March 03, 2023, total 6819311
equity shares were issued pursuant to conversion of warrants at a face value of Rs. 2/- till the closure of financial year
2024-25. As the last date to convert such warrants was September 02, 2024, the Company forfeited the application
money received on 5989039 unconverted warrants. Further, against 25000000 warrants alloted by the Company to
the Promoter and Non-Promoter public category on February 02, 2024, during the FY 2024-25 Company has not
received balance conversion money from any of the Allottee.

a) General Reserve

The general reserve is used from time to time to transfer profits from retained earnings for appropriation purposes.
There is no policy of regular transfer. General reserves represents the free profits of the Company available for
distribution. As per the Companies Act, certain amount was required to be transferred to General Reserve every time
the Company distribute dividend. General reserve is not an item of OCI, items included in the general reserve will not
be reclassified to profit or loss.

b) Securities Premium

Securities Premium reserve is used to record the premium on issue of shares.The reserve is utilised in accordance
with the provisions of the Companies Act, 2013.

c) Retained Earnings

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

d) Share warrants

Out of the 12808350 warrants allotted by the Company on March 03, 2023, total 6819311 equity shares were issued
pursuant to conversion of warrants at a face value of Rs. 2/- till the closure of financial year 2024-25. As the last
date to convert such warrants was September 02, 2024, the Company forfeited the application money received on
5989039 unconverted warrants. The funds received from pursuant to conversion of warrants were utilised for the
objects defined in the offer document.

Further, against the Preferential Issue dated February 02, 2024 against which the Company had alloted 25000000
fully convertible warrants at a price of Rs. 270/- per warrant aggregating to Rs. 67,500 Lacs, Company did not
received any conversion money during the FY 2024-25. CARE Ratings Limited was appointed as Monitoring Agency
to monitor the utilisation of the funds raised through above preferential issues, in accordance with the provisions of
Regulation 162A of the SEBI ICDR Regulations. There had been no deviation or variation in the use of the proceeds/
funds so raised.

e) Capital Reserve

Capital reserve is utilised in accordance with provision of the Act.

f) Equity Instruments through other comprehensive income

The Company has elected to recognise changes in the fair value of certain investment in equity instrument in other
comprehensive income. This amount will be reclassified to retained earnings on derecognition of equity instrument.

36. FINANCIAL INSTRUMENTS
Capital Management

For the purpose of Company’s capital management, capital includes Issued Equity capital and all reserves attributable to
equity holders of the Company.

The Company’s capital management objectives are:

- To ensure the Company’s ability to continue as a going concern.

- To provide an adequate return to shareholders by pricing products and services commensurately with the level of
risk.

Notes:

1. The carrying value of cash and cash equivalents, trade receivables, trade payables, short-term borrowings, other
current financial assets and financial liabilities approximate their fair value mainly due to the short-term maturities
of these instruments.

2. The fair values of investment in quoted investment in equity shares is based on the quoted price in the active market
of respective investment as at the Balance Sheet date.

3. The fair value of the financial assets and liabilities is included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

Level of hierarchy

The following explains the judgements and estimates made in determining the fair values of the financial instruments that
are recognised and measured at fair value. To provide an indication about the reliability of the inputs used in determining
fair value, the Company has classified its financial investments into the three levels prescribed under the accounting
standard.

Level 1 hierarchy includes financial instruments measured using quoted prices. This includes shares and mutual funds
that have quoted price and are valued using the closing NAV.

Level 2 hierarchy includes the fair value of financial instruments that are not traded in an active market (for example,
over-the counter derivatives) and the fair value is determined using valuation techniques which maximise the
use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs
required to fair value an instrument are observable, the instrument is included in level 2.

Level 3 If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3.

There have been no transfers between Level 1, Level 2 and Level 3 during the year

*The fair value of the investment appearing under Level 3 approximates the carrying value and hence, the valuation
technique and inputs with sensitivity analysis has not been given.

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company’s activities expose it to a variety of financial risks namely market risk, credit risk and liquidity risk. The
Company’s primary risk management focus is to minimise potential adverse effects of market risk on its financial
performance. The Company’s risk management assessment and policies and processes are established to identify
and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and
compliance with the same.

Risk assessment and management policies and processes are reviewed regularly to reflect changes in market conditions
and the Company’s activities. The Board of Directors and the Audit Committee is responsible for overseeing the Company’s
risk assessment and management policies and processes.

The Company’s financial risk management policy is set by the management. Market risk is the risk of loss of future earnings,
fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial
instrument may change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and
other market changes that affect market risk sensitive instruments. The Company manages market risk which evaluates
and exercises independent control over the entire process of market risk management. The management recommends
risk management objectives and policies, which are approved by Senior Management and the Audit Committee.

(a) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from the Company’s receivables from customers. Credit risk
arises from cash held with banks as well as credit exposure to clients, including outstanding accounts receivable.
The maximum exposure to credit risk is equal to the carrying value of the financial assets. The objective of managing
counterparty credit risk is to prevent losses in financial assets.

Trade receivables and other financial assets

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country, in which the customer operates,
also has an influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit
limits, continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the
normal course of business and through regular monitoring of conduct of accounts.

An impairment analysis is performed at each reporting date on an individual basis for major customers. The history
of trade receivables shows a negligible provision for bad and doubtful debts. The management believes that no
further provision is necessary in respect of trade receivables based on historical trends of these customers. Further,
the Company’s exposure to customers is diversified and no single customer has significant contribution to trade
receivable balances.

In respect of financial guarantees provided by the Company to banks and financial institutions, the maximum
exposure which the Company is exposed to is the maximum amount which the Company would have to pay if the
guarantee is called upon. Based on the expectation at the end of the reporting period. The Company considers that
it is more likely than not that such an amount will not be payable under the guarantees provided.

With regards to all other financial assets with contractual cash flows management believes these to be high quality
assets with negligible credit risk. Thus, no provision for expected cash loss has been provided on these financial
assets.

(b) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises two types of risk: currency risk and interest rate risk. Financial instruments
affected by market risk includes loan and borrowings, lease liabilities and derivative financial instruments. The
objective of market risk management is to manage and control market risk exposures within acceptable parameters,
while optimising the return. There have been no significant changes to the Company’s exposure to market risk or the
methods in which they are managed or measured.

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 debt obligations with floating interest rates. The borrowings as at March 31,2025 is Rs.
5,097.29 Lacs (previous year Rs. 1,679.23 Lacs) which are interest bearing and interest rates are variable.

Interest rate sensitivity

For the year ended March 31,2025, every 1 percentage increase/ decrease in weighted average bank interest rate
might have affected the Company’s incremental margins (profit as a percentage to revenue) approximately by 0.37%
(previous year 0.35%).

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. The Company’s exposure to currency risk relates
primarily to the Company’s operating activities and borrowings when transactions are denominated in a different
currency from the Company’s functional currency.

The carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities at
the end of the reporting period.

(c) Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet
its liabilities when due.

The Company has mature liquidity risk management processes covering short-term, mid-term and long-term
funding. Liquidity risk is controlled through maintaining sufficient reserves, adequate amount of committed credit
facilities and loan funds.

(d) Capital Risk Management Policies and Objectives

The Company’s objective while managing capital is to safeguard its ability to continue as a going concern (so that
it is enabled to provide returns and create value for its shareholders, and benefits for other stakeholders), support
business stability and growth, ensure adherence to the covenants and restrictions imposed by lenders and / or
relevant laws and regulations, and maintain an optimal and efficient capital structure so as to reduce the cost of
capital and to maximise shareholders value. In order to maintain or adjust the capital structure, The Company may
adjust the dividend payment to shareholders, return capital to shareholders, issue new shares, obtain new borrowings
or sell assets to reduce debt, etc.

The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions
or its business requirements and the requirements of the financial covenants.

*Other bank balances are held as margins money bank guarantee, considered as contingent liabilities, hence not
considered under cash and cash equivalents.

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 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 of the financial covenants of any interest bearing loans and borrowing for
reported periods.

8. EMPLOYEE BENEFIT PLANS

1. Expense recognised for Defined Contribution plan
Defined Contribution Plans

The Company makes contribution towards Employees’ state insurance, Employees’ provident fund, and Labour
welfare fund. Under the schemes, the Company is required to contribute a specified percentage of payroll cost, as
specified in the rules of the schemes, to these defined contribution schemes. The Company recognised Rs. 64.50
Lacs (March 31,2024 Rs. 56.72) during the year as expense towards contribution to these plans.

Leave Encashment

The Company has a defined benefit leave encashment plan for its employees. Under this plan, they are entitled to
encashment of earned leaves subject to certain limits and other conditions specified for the same.

In accordance with Ind AS 19 "Employee Benefits", an actuarial valuation has been carried out in respect of gratuity
and compensated absences.

40. SEGMENT INFORMATION

The Company’s business operations predominantly relate to manufacture of single product i.e., ERW pipes for selling
worldwide. In view of this there may be product as primary segment and geography as secondary Segment. All the
machines, building, other infrastructure, materials and consumables are used commonly/ interchangeably and it is not
possible and practical to allocate revenue, profit/ loss, assets or liabilities to any particular size, customer market etc.
nor the specified parameters are applicable to any particular size, customer, market etc. distinguishing it as a reportable
item under specified headings. However, revenue from export (outside India) and home (within India) is given under
geographical segment as under.

Nature of CSR activities:

The CSR activity focus areas are education, Skill Development and Technical Education and other key allied social
initiatives.

Note: The set off available in the succeeding years is not recognised as an asset as a matter of prudence.

44. DIVIDEND DISTRIBUTION MADE/PROPOSED

The Board of Directors of the Company at their meeting held on May 27,2025, considered and recommended a final dividend
@ 12.50% i.e., Rs. 0.125 per share of nominal value of Rs. 1 per share, which shall be payable subject to declaration of the
same in the annual general meeting, to the shareholder as on record date for the purpose (final dividend paid for previous
financial year ended March 31,2024 was Rs. 479.09 Lacs @ Rs. 0.25 per share of nominal value of Rs. 2 per share).

45. DISCLOSURE AS PER IND AS 36 IMPAIRMENT OF ASSETS'

The Company has reviewed the carrying amount of its tangible and intangible assets (being a cash generating unit)
with its future present value of cash flows and there has been no indication of impairment of the carrying amount of the
Company’s such Assets taking consideration into external and internal sources of information.

46. DISCLOSURE AS PER IND AS 10 EVENT OCCURRING AFTER REPORTING DATE

No adjusting or significant non-adjusting events have occurred between March 31,2025 and the date of authorisation of
the Company’s financial statements.

48. ADDITIONAL DISCLOSURES RELATING TO THE REQUIREMENT OF SCHEDULE III

a. The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

b. The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a
wilful defaulter at any time during the financial year or after the end of reporting period but before the date when the
financial statements are approved.

c. The Company has not carried out revaluation of items of property, plant and equipment during the year and
accordingly the disclosure as to whether the revaluation is based on the valuation by a registered valuer as defined
under Rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable.

d. The Company does not have any transactions with companies which are struck off under Section 288 of the
Companies Act 2013 or Section 560 of Companies Act, 1956 during the year ended March 31, 2025 and the year
ended March 31,2024.

e. During the financial year, there was a delay by the Company in the satisfaction of charges with Registrar of Companies
beyond statutory period, the details of which are as follows:

f. Quarterly returns or statements of current assets filed by the Company with banks and financial institutions are in
agreement with the books of accounts.

g. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies
Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

h. The Company has 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;

- 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

- Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

i. The Company has not received any funds 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;

- 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

- Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

j. The Company does not have any transactions which is not recorded in the books of accounts but 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).

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

49. INFORMATION ON DETAILS OF LOANS, GUARANTEES AND INVESTMENTS UNDER SECTION 186 OF THE ACT.

a. Details of investments made are given in note 6.

b. Refer note 7 and 12 for Loans given by the Company in accordance with Section 186 of the Act read with rules issued
thereunder.

c. Refer note 39 (B) for details of guarantees issued by the Company to any parties.

50. The Company has used accounting software for maintaining its books of account which has a feature of recording audit
trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software,
except that audit trail feature is not enabled at the database level and certain master fields (Asset Master, Customer
Master and Vendor Master) for users with certain privileged access rights as it related to the accounting software. Further
no instance of audit trail feature being tampered with was noted in respect of the software. Additionally, the audit trail that
was enabled and operated for the year ended March 31,2024, has been preserved by the Company as per the statutory
requirements for record retention.

51. The Company has carried out exercise of balances confirmation of trade receivable, trade payable, advances given,
and other financial and non-financial assets and liabilities and have received confirmations in most of the cases. In
few cases, such balances are subject to confirmation/ reconciliation and their balances are stated as per books of
accounts. Adjustments, if any will be accounted for on confirmation/ reconciliation of the same, which in the opinion of
the management will not have a material impact.

52. Disclosure as per Ind AS 1 'Presentation of financial statements’ and Disclosure as per Ind AS 8 - 'Accounting Policies,
Changes in Accounting Estimates and Errors’.

Certain changes have also been made in the policies for improved disclosures. There is no impact on the financial
statements due to these changes.

53. The figures for the previous year have been reclassified / regrouped wherever necessary including for amendments
relating to Schedule III of the Companies Act, 2013 for better understanding and comparability.

The figures of the financial statements are represented as in Indian Rupees Lacs upto two decimal places leaving the
scope of rounding up variations.

for N Kumar Chhabra and Co. for and on behalf of the Board of Directors of J T L Industries Limited

Chartered Accountants

ICAI Firm Registration Number 000837N

CA. Ashish Chhabra Pranav Singla Madan Mohan

FCA., Partner Whole Time Director Managing Director

Membership Number 507083 DIN: 07898093 DIN: 00156668

UDIN: 25507083BMKNHQ7830

Amrender Kumar Yadav Atul Garg

Place : Chandigarh Company Secretary Chief Financial Officer

Date : May 27, 2025 Membership Number: A41946 PAN: ALZPG9915G