The Investments include investment in Equity Shares of other entities. Investment in Pondicherry Agro Foods Pvt. Ltd. are classified in Level 3 of the Fair Value Hierarchy. The Fair Value of this investment have been computed based on the Book Value of the shares as per the most recent Standalone Financial Statements available.

In regard to investment in the remaining companies, the company has entered into agreements where it has purchases equity shares from these companies as part of an electricity supply arrangement. These shares are bought at face value and are to be transferred back at face value at the end of the contract. Since the shares will be transferred at their original purchase cost, there is no gain or loss on them, and their fair value remains in parity with the acquisition cost throughout the duration of the arrangement

b) i) The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares 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 the approval of the share holders in the ensuing Annual General Meeting.

ii) During the year the company issued 2,40,114 Equity Shares on preferential basis of face value Rs. 10/- each at a premium of Rs. 120/-.Pursuant to such fresh issue the company has increased its authorised share capital from Rs. 500 lakhs to Rs. 1,710 lakhs.

e) The Company has neither bought back any shares nor issued any bonus shares during five years immediately preceding the Balance Sheet date._

(i) Capital reserve

Capital Reserve represents amount set aside for specific purpose of capital nature and is not a free reserve available for distribution.

(ii) General reserve

Represents accumulated profits set apart by way of transfer from current year Profits or/and Retained Earnings. General reserve is free reserve available for distribution as recommended by Board in accordance with requirements of the Companies Act, 2013.

(iii) Securities Premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes in accordance with the provisions of the Companies Act, 2013.

(iv) Retained Earnings

Retained Earnings represents the accumulated available profit / (Loss) of the Company including the amounts carried forward from earlier years . These reserve are free reserves which can be utilised for any purpose as may be required.

(v) Other Comprehensive Income

Other Comprehensive Income is created in compliance with Ind AS notified under the Companies (Indian Accounting __Standard) Rules, 2015, as amended.__

* During the year the company redeemed 3,09,072 of Rs. 100.3 each preference shares at par amounting to Rs. 310 Lakhs (a) Nature of security for secured borrowings are given below:

(i) The Term Loan 0f Rs. 1100 Lakhs from Bank is secured by first and exclusive Equitable Mortgage of Freehold Land 8 Building situated at Trichy and Puducherry and Leasehold land and building situated at Erode, and further secured by way of second charge on all existing and future receivables, current assets, inventories and moveable assets of the Company , present and future, and guaranteed by the Chairman and the Managing Director of the Company.

The Term Loan is repayable in 96 equated monthly instalments of Rs. 1100 Lakhs each and the rate of interest is floating in the range of 7.5% to 8.08% p.a.

(ii) The Working Capital Term Loan (WCTL) under Guaranteed Emergency Credit Line (GECL) is secured by way of extension of charge on entire present and future current assets of the Company and second charge on Fixed Assets of the Company and guaranteed by the Chairman and Managing Director of the Company

(iii) The WCTL under ECLGS Scheme is repayable in 28 monthly instalments of Rs.2.46 Crores starting from June 2022 and the rate of interest is @ 9.25% p.a.

(iv) Vehicle Loans availed are secured by hypothecation of the respective vehicles

(a) Nature of security for secured borrowings are given below:

i) Cash Credit Loan from Bank is secured by way of first and exclusive hypothecation charge on all existing and future receivables, current assets, inventories and moveable assets of the Company and second charge on Fixed Assets of the Company and guaranteed by the Chairman and Managing Director of the Company

The information as required under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) has been determined to the extent such parties have been identified on the basis of information received from suppliers regarding their status under the said act as available with the Company.

A) Nature of goods and services

The following is a description of principal activities separated by reportable segments from which the Company generates its revenue

a) The Company is engaged in the manufacturing and trading of Industrial Gases and primarily generates revenue from the sale of I ndustrial Gases and the same is only the reportable segment of the Company.

B) Disaggregation of revenue

In the following table, revenue is disaggregated by primary geographical market, major products lines and timing of revenue recognition

36 Financial risk management objectives and policies

The Company’s financial liabilities comprise loans and borrowings, security deposits, and trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s financial assets include trade and other receivables, cash and cash equivalents.

The Company is exposed to market risk, interest rate risk, credit risk and liquidity risk. The Company’s management ensures that the Company’s risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. Managing Director, Chief Financial Officer and Business Heads reviews and agrees policies for managing each of these risks, which are summarised below.

Market risk

Market risk is the risk that the fair value of 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 include trade payables, trade receivables, borrowings, etc.

i) Foreign Currency Risk : Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rate

ii) Interest rate risk : 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.

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).

Trade receivables

Customer credit risk is managed by the respective department subject to Company's established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on individual credit limits as defined by the company. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date and write off/provision is made. The calculation is based on losses as per historical data.

Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations. The company's treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by Senior Management. Management monitors the Company's net liquidity position on the basis of expected cash flows.

Maturity profile of Financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on contractual undiscounted payments.

37 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. The primary objective of the Company's capital management is to maximise the shareholder value and retaining healthy debt equity ratio.

40 Segment Reporting

Primary Segment Reporting (by Business Segment):

Segments have been identified in line with the Indian Accounting standard on "Operating Segments" (Ind AS-108), taking into account the organisational structure, risk-return profile of individual business and internal reporting system of the Company. Based on this assessment the company has identified a single reportable primary business segment i.e.., Industrial Gases. Hence no additional disclosures are required to be given other than those already given in these financial statements.

43 Additional Regulatory Information as per the requirements of Revised Schedule III of the Companies Act, 2013

To the best of information of management of the Company, Additional regulatory information required to be given pursuant to Gazette notification for Amendments in Schedule III to Companies Act, 2013 dated 24 March 2021 effective from 01 April 2021 is disclosed wherever applicable. Further, the following disclosures are not applicable to the Company :

i) Disclosure on Revaluation of property, plant and equipment and intangible assets from Registered Valuers is not applicable to company.

ii) No proceeding has been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,1988 (us of 1988) an rules made thereunder.

iii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender.

iv) Transactions with Struck off Companies*

During the year, the Company has not entered into any transaction with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956.

* based on information available as on the date of reporting.

v) The Company does not have any subsidiary, Joint Venture or associate, hence compliance with clause (87) of section 2 and section 186 (1) of the Companies Act, 2013 and Rules made thereunder regarding the number of layers. is not applicable to the company.

vi) The Company has not carried out any scheme of arrangement which is approved by regulatory authorities during the year.

vii) The Company has not traded or invested in Crypto currency or virtual currency during the financial year.

viii) There are no transactions recorded in books of account reflecting surrender/ disclosure of income in the assessment under Income Tax Act, 1961.

ix) During the year no loans / advances in the nature of Loans have been given to Promoters, Directors, KMP and Related Parties.

x) In the opinion of the Management, no funds (which are material either individually or in the aggregate) 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 person(s) or entity(ies), including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provided any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xi) In the opinion of the Management, no funds (which are material either individually or in the aggregate) have been received by the Company from any person(s) or entity(ies), including foreign entity ("funding parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding parties ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xii) Charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period are NIL.

44 The Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On 31 March 2023, MCA amended the Companies (Indian Accounting Standards) Rules, 2015 by issuing the Companies (Indian Accounting Standards) Amendments Rules, 2023, applicable from 1 April 2023.

47 The previous figure has been reclassified- rearranged - regrouped wherever necessary