a. Defined Contribution Plans :

All eligible employees of the Company in India are entitled to receive benefits under the provident fund plan. The Company makes provident fund contribution, a defined contribution plan, for qualifying employees. It also contributes to employee state insurance corporation,which is also defined contribution plan. The Company recognised Rs. 190.17 lakhs (Previous Year : 168.25 lakhs) and Rs. 91.77 lakhs ( Previous Year : Rs. 78.46 lakhs) respectively for PF and ESIC contruibution in statement of profit and loss Provident fund and ESIC are managed through government administered funds.

Defined benefit plans ofthe Company comprises Gratuity.

The gratuity plan provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment.

The Company has opted the Employee Group Gratuity Scheme ofthe insurance service provider Life Insurance Corporation of India ("LIC") . Payments for Gratuity are funded through investments with Life Insurance Corporation of India.

The Company’s investment strategy in respect of its funded plans is implemented within the framework of the applicable statutory requirements. The plans expose the Company to a number of actuarial risks such as investment risk, interest rate risk, longevity risk and inflation risk. The Company has developed policy guidelines for the allocation of assets to different classes with the objective of controlling risk and maintaining the right balance between risk and long-term returns in order to limit the cost to the Company of the benefits provided.

The Company makes annual contribution to the Employee's Group Gratuity Cum Life Assurance Scheme of the Life Insurance Corporation of India, a funded benefit plan for qualifying employees. The Scheme provides for lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs upon completion of five years of service.

The figures of present value ofthe defined benefit obligation and the related current service cost were as measured and provided to us by a consulting actuary.

In respect of Sales Tax

Demands amounting to Rs. 186.69 lakhs ( Previous Year 182.19 Lakhs) have been raised by the Indirect Tax Authorities which is contested by the company based on management evaluation and legal advice of tax consultants. Based on legal advice that these amounts would get deleted or substantially reduced, the Company has not recognised these as liabilities.

35 Additional Regulatory Information-

(i) Immovable Properties (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company and where such immovable property is jointly held with others, details are given to the extent of company's share. - The Company has no such immovable properties

(iv) There is no Intangible assets under development.

(v) No proceedings have been initiated or pending against the company, under Prohibition of Banami Property Transaction Act.

(vi) The company has borrowings from the bank or financial institutions on the basis of security of current assets.

(vii) Quarterly returns or assessments of current assets filed by the company with banks or financial institutions are not in agreement with books of accounts. Following are the summary of reconciliation and reasons of material discrepancies-

Reason for Differences:

Inventory : Inventory is valued as per companies accounting policy, at the time of finalisation of financial statements whereas the same is taken on estimated basis for submission before bank.

Trade Receivables :

Difference in trade receivables is due to following reasons -

a. Recognition of revenue and trade receivables is made as per principles of Ind AS 115 at the time of finalisation of financial statements. Whereas trade receivables are reported to banks without applying principles of Ind AS 115.

b. Making of adhoc loss allowance when submitting statements to the bank while loss allowance as per Ind AS 109 is made while finalising financial statements.

(viii) The company was not declared wilful defaulter by any Bank/Financial Institution/other lender.

(ix) Relationship with struck off Companies- Nil/None

(x) Registration of charges or satisfaction with Registrar of Companies- No charge registration or satisfaction was pending on the date of balance-sheet.

(xi) Compliance with number of layers of companies- The Company has complied with laws in respect of number of layers of companies.

(xii) Details of Crypto Currency or virtual currency- Nil Details of items of exceptional and extraordinary nature- Nil

(xiii) The company has not surrendered or disclosed any amount as income during the year in the tax assessment under the Income Tax Act,1961.

37 Segment Information

i. The Company has determined following reporting segments based on the information reviewed by the Company’s Chief Operating Decision Maker (‘CODM’):

a. Manufacturing segment - Business of manufacture and sale of FIBC, HDPE/PP Tarpaulin, HDPE/PP, Bags, Ground Cover, Pond Liners, Mulch Film, HDPE/PP Fabric, Laminates, Vermi Beds and Geotextiles, Ground Cover, Nets and other technical textiles products which mainly have same risks and returns.

b. Trading segment - Trading of Granule ( Del credre agent cum Consignment Stockiest)

Power generated from solar power is captively consumed. The solar power generation segment is integral part of manufacturing segment'.

The above business segments have been identified considering :

a. the nature ofproducts and services

b. the differing risks and returns

c. the internal organisation and management structure, and

d. the internal financial reporting systems.

ii. The Company's Chief operating Decision maker is Managing Director and Chief Executive Officer.

iii. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

(a) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as “Unallocable”.

(b) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as “Unallocable”.

Other Information

1 Remuneration paid to Key Managerial Person

The above figures do not include provisions for gratuity as separate actuarial valuation are not available and the cost to develop it would be excessive.

"The contributions to defined contribution plans for key management personnel in respect of Provident fund is Rs. 0.86 lakhs (Previous Year : Rs. 0.86 lakhs)"

2 Terms and Conditions for Outstanding Balances:

The balances are unsecured and would be settled in money.

3 Guarantee Given or Received by or to any Related Party

The Loan of Rs. 9571.96 Lakhs (Previous Year Rs. 6391.08 Lakhs) is guaranteed by Shri Anil Choudhary (Managing Director) and Smt Ranjana Choudhary (Whole Time Director)

39 Corporate Social Responsibility (CSR)

(a) CSR amount required to be spent as per Section 135 of the Companies Act, 2013 read with Schedule VII there of by the company during the year is Rs. 29.97 Lakhs (Previous Year Rs. 33.28 Lakhs).

(b) Expenditure related to Corporate Social Responsibility is Rs. 11.42 Lakhs (Previous Year Rs. 34.60 Lakhs)

40 Research & Development

The company conducts its R&D initiatives within the broad framework of innovation initiatives.

The company purchased technologically upgraded Circular Loom, Stitching Machine, Ultrasonic Cutting and Sealing Machine, for its units.

41 Disclosures pursuant to Regulation 34 (3) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Section 186 of the Companies Act, 2013

(c) Investment by the loanees in the shares ofthe Company

The loanees have not made any investments in the shares of the Company.

(d) Refer Note 4 for details of Investments in subsidiaries, associates and other entities

(e) Details of guarantees given

Corporate Guarantee given to Kotak Mahindra Bank Limited for credit facility availed by Comsyn India Private Limited outstanding Rs. 505.36 Lakhs (Previous Year 505.36 Lakhs)

(f) The Company has not provided any security covered under Section 186 and accordingly, the disclosure requirements to that extent does not apply to the Company

Carrying amounts of trade receivables, Investments, cash and cash equivalents, bank balances, and trade payables as at March 31, 2024 and 2023, approximate the fair value.

Difference between carrying amount and fair value of Loans, Other financial assets, borrowings and other financial liabilities subsequently measured at amortised cost is not significant. Fair value measurement of lease liabilities is not required.

Terms and conditions relating to pledge :-

Trade Receiables & Other Financial Assets: All existing/ future Trade Receivables & Other Financial Assets have been hypothicated to secure working capital loan.Fixed Deposit have been pledged to secure the Bank Gurantee issued in our favour.

The Company is exposed primarily to market risks being fluctuations in foreign currency exchange rates and interest rate, and other risks namely credit and liquidity risks, which may adversely impact the fair value of its financial instruments. The Company has constituted a Risk Management Committee, which is responsible for developing and monitoring the Company’s risk management Committee, which is responsible for developing and monitoring the Company’s risk management policies. The Company has a risk management policy which covers risks associated with financial assets and liabilites. The focus of risk management committee is to assess the unpredictability of the financial environment and to mitigate the potential adverse effects on the financial performance ofthe Company.

d1. Management of Market Risk

The Company’s size and operations result in it being exposed to the following market risks that arise from its use of financial instruments:

d2. Foreign Currency Exchange Rate Risk

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit and loss and other comprehensive income and equity, where any transaction references more than one currency or where assets / liabilities are denominated in a currency other than the functional currency ofthe company.

The Company as per its risk management policy, uses derivative instruments primarily to hedge foreign exchange.

The foreign exchange rate sensitivity is calculated by aggregation of the net foreign exchange rate exposure and a simultaneous parallel foreign exchange rates shift of all the currencies by 1% against the functional currency ofthe Company.

d3. Interest Rate Risk

The Company is also exposed to interest rate risk, changes in interest rates will affect future cash flows or the fair values of its financial instruments, principally debt. Any movement in the reference rates could have an impact on the Company’s cash flows as well as costs. The Company is subject to variable interest rates on some of its interest bearing liabilities.

Credit risk is the risk that a customer or counter party to a financial instrument fails to perform or pay the amount according to the contractual terms or obligations causing financial loss to the Company

Credit risk encompasses of risk of default, risk of deterioration of creditworthiness as well as concentration of risks.

Credit risk is controlled by analysing credit limits and creditworthiness of customers of a continuous basis to whom the credit has been granted.

Exposure to Credit Risk

The carrying amount of financial assets represents the maximum credit exposure.

The maximum exposure to credit risk is Rs 9,296.28 lakhs ( Rs 5,442.57 lakhs in preceding year) being the total of carrying amount of trade receivables, balance with banks, bank deposits and other financial assets.

Trade receivables

Concentration of credit risk with respect to trade receivables are limited, due to the Company’s customer base being large and diverse. All trade receivables are reviewed and assessed for default on a quarterly basis.

Other financial assets

The Company maintains exposure in bank balances and term deposits with banks. Considering insignificant amounts and short term nature, there is no significant risks pertaining to these assets.

d5. Management of Liquidity Risk

Liquidity risk arises from the Company’s inability to meet its cash flow commitments on the due date.

The Company has obtained fund and non-fund based working capital lines from various banks. Furthermore, the Company have access to undrawn lines of committed and uncommitted borrowing/ facilities

The Company has maintained a cautious liquidity strategy, with a positive cash balance throughout the year ended 31st March, 2024 and 31st March, 2023. Cash flow from operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.

The following table shows a maturity analysis of the anticipated cash flows including interest obligations for the Company’s non-derivative financial liabilities on an undiscounted basis, which therefore differ from both carrying value and fair value.

43 f. Derivative financial instruments and hedging activity

The company’s revenue is denominated in various foreign currencies. Given the nature the business, a large portion of costs are denominated in Indian Rupees. This exposes the company to currency fluctuations.

The Board of Directors have constituted a Risk Management Committee to frame, implement and monitor the risk management plan of the company which inter alia covers risks arising out of exposure of foreign currency fluctuations.

The company uses various derivative instruments such as foreign exchange forward in which the counter party is generally the bank.

The following are outstanding foreign currency forward contracts, which have been designated as fair value hedges -

43 g. In respect of some financial assets the Company does not recognise a gain or loss on initial recognition of a financial asset or

financial liability because the fair value is neither evidenced by a quoted price in an active market for an identical asset or liability (i.e. a Level 1 input) nor based on a valuation technique that uses only data from observable markets. The Company has so concluded because these financial assets are interest free deposits made by the company.