b) Rights, preferences and restrictions attached to equity shares

The Company has one class of equity shares having a par value of INR. 10 each. Each shareholder is eligible for one vote per share held. Dividend proposed by Board of Directors, if any is subject to approval of shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

* Amount pertaining to INR 1 Lakhs (March 31,2023 INR 15 Lakhs) were to a firm other than current statutory auditors.

** Amount pertaining to INR 1.23 Lakhs (March 31,2023 INR 1.5 Lakhs) were to a firm other than current statutory auditors.

30 Corporate social responsibility

The Company has spent INR 21.25 lakhs (March 31, 2023: INR 18.97 lakhs) towards scheme of Corporate Social Responsibility as prescribed under Section 135 of the Act. The details are:

1) Gross amount required to be spent by the Company during the year INR 21.25 lakhs (March 31,2023 : 18.95)

2) Amount spent during the year:

31 Segment reporting

A. Factors used to identify the entity’s reportable segments, including the basis of organisation

The Company is exclusively engaged in the business of manufacturing, trading and selling of Thermoplastic Elastomers, Silicone Masterbatch and related products. As per Ind AS 108 ‘Operating Segment' specified under Section 133 of the Companies Act 2013, there are no reportable segments applicable to the Company.

B. Geographic information

The geographic information analyses the Company's revenue and non-current assets by the Company's country of domicile and other countries. In presenting the geographic information, segment revenue has been based on the geographic location of customers and segments assets were based on the geographic location of the respective non-current assets.

The products offerings of the company are managed from India to cater the needs of domestic and international customers.

C. Information about major customers

Revenues from three major customers represented approximately INR 2,370.43 lakhs (March 31,2023: INR 2,919.49 lakhs), INR 1,404.08 lakhs (March 31, 2023: INR 1,175.33 lakhs) and INR 1,240.59 lakhs (March 31, 2023: INR 1,458.57 lakhs) of the Company's total revenues.

32 Employee benefits

(A) Defined contribution plans:

The Company recognised INR 23.14 lakhs for the year ended March 31, 2024 (March 31, 2023: INR 20.13 lakhs) towards provident fund contribution in the Statement of Profit and Loss.

(B) Defined Benefit Plan:

The most recent actuarial valuation of the defined benefit obligation in relation to the gratuity scheme was carried out at March 31,2024. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the details of the employee benefit obligation at the balance sheet date:

The sensitivity analyses above have been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occuring at the end of the reporting period.

The average duration of the defined benefit plan obligation at the end of the reporting period is 12.29 years (March 31,2023: 12.62 years).

(C) Other long-term employee benefits:

Compensated absences are payable to employees at the rate of daily salary for each day of accumulated leave on death or on resignation or upon retirement. The total liability for compensated absences as at the year end is INR 63.89 lakhs (March 31, 2023: INR 57.34 lakhs), as shown under non-current provisions INR 62.16 lakhs (March 31, 2023: INR 55.76 lakhs) and current provisions INR 1.73 lakhs (March 31, 2023: INR 1.58 lakhs). The amount charged to the Statement of Profit and Loss is INR 6.55 lakhs (March 31,2023 : INR 33.85 lakhs).

B. Calculation of fair values

(i) The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent with those used for the year ended March 31,2023.

(ii) Cash and cash equivalents, trade receivables, trade payables, and other financial liabilities have fair values that approximate to their carrying amounts due to their short-term nature.

35 Financial risk management

The Company has exposure to the following risks arising from the financial instruments:

a) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations. The carrying amount of financial assets represent the maximum credit exposure.

Impairment of financial assets

Management evaluates credit risk of trade receivables and other financial assets based on past due information. Management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full, based on historical payment behaviour and extensive analysis of customer credit risk and the current provision for the bad debts represents the impacted credit loss it forsees in its receivables. The credit risk rating grade of unimpaired amount is considered as fully collectible.

Based on the assessment of credit risk rating grades of banks where balances are held, the management considers the balances with banks are unimpaired.

b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

Exposure to liquidity risk:

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments.

c) Market risk

The Company is exposed to currency risk on account of its trade receivables, other financial assets and trade payables in foreign currency. The functional currency of the Company is Indian Rupee.

Sensitivity analysis

A reasonably possible strengthening (weakening) of the foreign currencies against INR at March 31 would have affected the measurement of financial instruments denominated in US dollars and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases.

d) Interest Rate Risk

Company doesnot have borrowings , hence is not exposed to interest rate risk

e) Capital Management

Equity share capital and other equity are considered for the purpose of Company's capital management.

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure of the Company is based on management's judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence.

The management and the Board of Directors monitor the return on capital as well as the level of dividends to shareholders. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

41 Transfer pricing

Transactions with related parties are governed by transfer pricing regulations of the Indian Income-tax Act, 1961. The Company's international transactions with related parties are at arm's length as per the independent accountants report for the year ended 31 March 2023. Management believes that the Company's international and domestic transactions

with related parties post March 31, 2023 continue to be at arm's length and that the transfer pricing regulations will not have any impact on the financial statements, particularly on the amount of tax expense and that of provision for taxation.

42 Additional regulatory information

(i) Details of benami property held

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

(ii) Relationship with struck off companies

The company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

(iii) Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(iv) Details of crypto currency or virtual currency

The company has not traded or invested in crypto currency or virtual currency during the current or previous year.

(v) Valuation of property plant and equipment, intangible asset and investment property

The Company has not revalued its property, plant and equipment during the current or previous year.

The Company does not have any borrowings and investments during the current period and previous period, accordingly the debt-equity, debt service coverage, return on investment ratios have not been presented.

(vii) Other regulatory information

(a) The title deeds of all the immovable properties, as disclosed in note 3 to the financial statements, are held in the name of the company.

(viii) Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

(ix) Utilisation of borrowed funds and share premium

(a) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

i. 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)

ii. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

(b) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

i. 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

ii. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

(x) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

(xi) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India and the Group does not have any CICs, which are part of the Group.

43 On May 29, 2024, the Board of Directors of the Company have recommended a final dividend of 30 % i.e., ' 3/- per equity share for the financial year ended March 31,2024 subject to the approval of shareholders at the Annual General Meeting and if approved, would result in a cash outflow of approximately INR. 378.60 lakhs.

The notes referred to above form an integral part of the financial statements