అకౌంట్స్ గమనికలుAlfa Ica (India) Ltd.

Mar 31, 2025

14. Provisions, contingent liabilities and contingent assets

A provision is recognized when there is a present obligation
as a result of past event and it is probable that there will be
an outflow of resources in respect of which a reliable
estimate can be made. 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 or a reliable estimate of the amount
cannot be made. Information on contingent liability is
disclosed in the Notes to the Financial Statements.
Contingent assets are not recognised.

15. Employee benefits
Short-term obligations

Liabilities for wages and salaries, including non-monetary
benefits that are expected to be settled wholly within 12
months after the end of the period in which the employees
render the related service are recognised in respect of
employees'' services up to the end of the reporting period
and are measured at the amounts expected to be paid when
the liabilities are settled. The liabilities are presented as
current employee benefit obligations in the balance sheet.
Post-employment obligations
(a) Defined benefit plans
Gratuity obligations

The liability in respect of Gratuity is determined based
on the actuarial valuation done by Actuary as at
Balance Sheet dated in context of the Ind AS 19
following Projected Unit Credit Method. The gratuity
plan in unfunded and the Company will pay gratuity

as and when it becomes due. The obligation is
measured at the present value of the estimated
future cash flows. Actuarial gains and losses are
recognised immediately in the Statement of Profit
and Loss.

Leave encashment on termination of service

Benefits under the Company''s leave encashment
constitute other employee benefits. The liability in
respect of leave encashment is provided on the basis
of an actuarial valuation done by an independent
actuary at the year end. Actuarial gains and losses are
recognised immediately in the Statement of Profit
and Loss. It is unfunded plan.

(b) Defined contribution plans
Provident Fund

Retirement benefit in the form of provident fund is a
defined contribution scheme. The Company has no
obligation, other than the contribution payable to the
provident fund. The Company recognizes contribution
payable to the provident fund scheme as an expense,
when an employee renders the related service.

16. Earnings per share

Basic earnings per equity share is computed by dividing the
net profit attributable to the equity holders of the company
by the weighted average number of equity shares
outstanding during the period.

Diluted earnings per equity share is computed by dividing the
net profit attributable to the equity holders of the company
by the weighted average number of equity shares considered
for deriving basic earnings per equity share and also the
weighted average number of equity shares that could have
been issued upon conversion of all dilutive potential equity
shares. The dilutive potential equity shares are adjusted for
the proceeds receivable had the equity shares been actually
issued at fair value.

17. Financial instruments

A financial instrument is any contract that gives rise to a
financial asset of one entity and a financial liability or equity
instrument of another entity.

(i) Initial recognition and measurement

On initial recognition, all the financial assets and
liabilities are recognized at its fair value plus or minus
transaction costs that are directly attributable to the
acquisition or issue of the financial asset or financial
liability except financial asset or financial liability
measured at fair value through profit or loss.
Transaction costs of financial assets and liabilities
carried at fair value through the Profit and Loss are
immediately recognized in the Statement of Profit
and Loss.

(ii) Subsequent measurement

Financial assets carried at amortised cost

A financial asset is subsequently measured at
amortised cost if it is held within a business model
whose objective is to hold the asset in order to collect
contractual cash flows and the contractual terms of
the financial asset give rise on specified dates to cash
flows that are solely payments of principal and
interest on the principal amount outstanding.

Financial assets at fair value through other
comprehensive income (FVTOCI)

A financial asset is subsequently measured at fair
value through other comprehensive income if it is
held within a business model whose objective is
achieved by both collecting contractual cash flows
and selling financial assets and the contractual terms
of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and
interest on the principal amount outstanding.

Financial assets at fair value through profit or loss
(FVTPL)

A financial asset is measured at fair value through
profit and loss unless it is measured at amortized cost
or at fair value through other comprehensive income.

Financial liabilities

The financial liabilities are subsequently carried at
amortized cost using the effective interest method.
For trade and other payables maturing within one
year from the balance sheet date, the carrying
amounts approximate fair value due to the short
maturity of these instruments.

18. Impairment of assets

(i) Financial assets

The company recognizes loss allowances using the
expected credit loss (ECL) model for the financial
assets which are not fair valued through profit or loss.
Loss allowance for trade receivables with no
significant financing component is measured at an
amount equal to lifetime ECL. For all other financial
assets, expected credit losses are measured at an
amount equal to the 12-month ECL, unless there has
been a significant increase in credit risk from initial
recognition in which case those are measured at
lifetime ECL. The amount of expected credit losses (or
reversal) that is required to adjust the loss allowance
at the reporting date to the amount that is required
to be recognised is recognized as an impairment gain
or loss in statement of profit or loss.

(ii) Non-financial assets

The carrying amounts of assets are reviewed at each
balance sheet date in accordance with Ind AS 36
''Impairment of Assets'', to determine whether there is
any indication of impairment. If any such indication
exists, the asset''s recoverable amount is estimated.
An impairment loss is recognised whenever the
carrying amount of an asset exceeds its recoverable
amount. Impairment losses are recognised in the
Statement of Profit and Loss. An impairment loss is
reversed if there has been a change in the estimates
used to determine the recoverable amount. An
impairment loss is reversed only to the extent that
the asset''s carrying amount does not exceed the
carrying amount that would have been determined
net of depreciation or amortisation, if no impairment
loss had been recognised.

(i) Retained earnings

Retained earnings represents amount that can be distributed by the Company to its equity shareholders is
determined based on the financial statements of the Company and also considering the requirements of the
Companies Act 2013.

(ii) Capital Redemption Reserve

Capital Redemption reserve is a statutory, non-distributable reserve created on account of redemption of
redeemable preference shares as per the provisions of Companies Act, 2013.

38. Financial instruments

a) Capital management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while
maximising the return to stakeholders through efficient allocation of capital towards expansion of business,
optimisation of working capital requirements and deployment of surplus funds into various investment options.

The Company''s capital requirement is mainly to fund its capacity expansion, repayment of principal and interest on
its borrowings and strategic acquisitions. The principal source of funding of the Company has been, and is expected
to continue to be, cash generated from its operations supplemented by funding from borrowings from banks and
financial institutions.

The Company monitors its capital using gearing ratio, which is net debt divided to total equity. Net debt includes,
interest bearing loans and borrowings less cash and cash equivalents, bank balances other than cash and cash
equivalents while equity includes all capital and reserves of the Company.

# includes current maturities of long term debt

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

Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)
c) Financial risk management

These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity
risk. The Company seeks to minimise the effects of these risks by using derivative financial instruments, credit limit to
exposures, etc., to hedge risk exposures.

The Company''s risk management is carried out by senior management team. The risk management includes
identification, evaluation and identifying the best possible option to reduce such risk.

(i) 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 prices comprise three types of risk: foreign currency risk, interest rate risk,
investment risk.

Foreign currency risk management

The Company operates internationally and is exposed to foreign exchange risk arising from foreign currency
transactions primarily with respect to USD, GBP, SGD and EURO. Foreign currency risk arises from future commercial
transactions and recognised assets and liabilities denominated in a currency that is not the Company''s functional
currency. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows
established risk management policies.

(ii) 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 is exposed to interest rate risk because funds are borrowed at both
fixed and floating interest rates. The Company has exposure to interest rate risk, arising principally on changes in
base lending rate.

(iii) Liquidity risk management

Liquidity risk refers to the risk of financial distress or high financing costs arising due to shortage of liquid funds in a
situation where business conditions unexpectedly deteriorate and requiring financing. The Company requires funds
both for short term operational needs as well as for long term capital expenditure growth projects. The Company
relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The
current committed lines of credit are sufficient to meet its short to medium term expansion needs. The Company
manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by
continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets
and liabilities.

Maturity profile of financial liabilities:

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

(iv) Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to
the Company. Customer credit risk is managed centrally by the Company and subject to established policy,
procedures and control relating to customer credit risk management. The company also assesses the
creditworthiness of the customers internally to whom goods are sold on credit terms in the normal course of
business. The credit limit of each customer is defined in accordance with this assessment. Outstanding customer
receivables are regularly monitored and any shipments to overseas customers are generally covered by letters of
credit.

40. Previous year figures have been regrouped/rearranged, wherever considered necessary to conform to current year''s
classification.

See accompanying notes to the financial statements 1 to 40

As per our report of even date For and on behalf of the Board of Directors

For O. P. Bhandari & Co.

Chartered Accountants
Firm Regn. No. 112633W

Rishi Rajendra Tikmani Director

O. P. Bhandari (DIN : 00638644)

Partner

Pooja Tikmani Director

M.No. 034409 (DIN : 06944249)

Ayush Ratanlal Kedia Director

Place : Ahmedabad (DIN : 08605912)

Date : 28^th May 2025

Himadri Trivedi Company Secretary

Hansraj Sekhani Chief Finance Officer

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Mar 31, 2024

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

The company has one class of equity shares having a par value of ? 10/- 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 any of the 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.

(i) Retained earnings

Retained earnings represents amount that can be distributed by the Company to its equity shareholders is determined based on the financial statements of the Company and also considering the requirements of the Companies Act 2013.

(ii) Capital Redemption Reserve

Capital Redemption reserve is a statutory, non-distributable reserve created on account of redemption of redeemable preference shares as per the provisions of Companies Act, 2013.

16.1. All secured loans are secured by hypothecation of all present and future goods, book debts and other movable assets and equitable mortgage of immovable properties & personal guarantee of promoter & Directors. Loans taken from bank carries interest rate of 10.15% p.a. in respect of Cash Credit and 9.7% p.a. in respect of EPC

(i) Contingent liabilities
a) Guarantees issued by bank on behalf of the Company	-	-
b) Disputed demands under income tax, sales tax and electricity duty etc *	-	-
c) Claims against the company not acknowledged as debt	-	-
(ii) Commitments
(i) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)	-	-
(ii) Export commitments against import of capital goods and stores & spares under EPCG scheme (Duty saved amount)	-	-

33. Employee Benefits a) Gratuity

Below tables sets forth the changes in the projected benefit obligation and amounts recognised in the balance sheet as at March 31, 2024 and March 31, 2023, being the respective measurement dates. The gratuity plan in unfunded and the Company will pay gratuity as and when it becomes due.: -

37. Impairment of assets

In accordance with Ind AS-36 on "Impairment of Assets" the Company has assessed as on the balance sheet date, whether there are any indications with regard to the impairment of any of the assets. Based on such assessment it has been ascertained that no potential loss is present and therefore, formal estimate of recoverable amount has not been made. Accordingly no impairment loss has been provided in the books of account,

38. Financial instruments

a) Capital management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximising the return to stakeholders through efficient allocation of capital towards expansion of business, opitimisation of working capital requirements and deployment of surplus funds into various investment options.

The Company''s capital requirement is mainly to fund its capacity expansion, repayment of principal and interest on its borrowings and strategic acquisitions. The principal source of funding of the Company has been, and is expected to continue to be, cash generated from its operations supplemented by funding from borrowings from banks and financial institutions.

The Company monitors its capital using gearing ratio, which is net debt divided to total equity. Net debt includes, interest bearing loans and borrowings less cash and cash equivalents, bank balances other than cash and cash equivalents while equity includes all capital and reserves of the Company.

# includes current maturities of long term debt

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

Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs) c) Financial risk management

These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk. The Company seeks to minimise the effects of these risks by using derivative financial instruments, credit limit to exposures, etc., to hedge risk exposures.

The Company''s risk management is carried out by senior management team. The risk management includes identification, evaluation and identifying the best possible option to reduce such risk.

(i) 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 prices comprise three types of risk: foreign currency risk, interest rate risk, investment risk.

Foreign currency risk management

The Company operates internationally and is exposed to foreign exchange risk arising from foreign currency transactions primarily with respect to USD, GBP, SGD and EURO. Foreign currency risk arises from future commercial transactions and recognised assets and liabilities denominated in a currency that is not the Company''s functional currency. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

Foreign currency sensitivity

The impact on the Company''s profit before tax due to changes in the fair value of monetary assets and liabilities on account of reasonably possible change in USD, GBP and EURO exchange rates (with all other variables held constant) will be as under:

(ii) 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 is exposed to interest rate risk because funds are borrowed at both fixed and floating interest rates. The Company has exposure to interest rate risk, arising principally on changes in base lending rate.

(iii) Liquidity risk management

Liquidity risk refers to the risk of financial distress or high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. The Company requires funds both for short term operational needs as well as for long term capital expenditure growth projects. The Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium term expansion needs. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Maturity profile of financial liabilities:

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

(iv) Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Customer credit risk is managed centrally by the Company and subject to established policy, procedures and control relating to customer credit risk management. The company also assesses the creditworthiness of the customers internally to whom goods are sold on credit terms in the normal course of business. The credit limit of each customer is defined in accordance with this assessment. Outstanding customer receivables are regularly monitored and any shipments to overseas customers are generally covered by letters of credit.

The impairment analysis is performed on client to client basis for the debtors that are past due at the end of each reporting date. The company has not considered an allowance for doubtful debts in case of trade receivables that are past due but there has not been a significant change in the credit quality and the amounts are still considered recoverable.

40. Previous year figures have been regrouped/rearranged, wherever considered necessary to conform to current year''s classification.

See accompanying notes to the financial statements 1 to 40

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Mar 31, 2015

Note 1:

Related Party Transactions

a) Related Parties and their Relationship:

Name of Related Party Relationship

Tikmani Corporation Associate Concern

Rajendra Enterprise Associate Concern

Rishi Tikmani Key Management Personnel

Rajendra Tikmani Key Management Personnel

Pooja Tikmani Key Management Personnel

Vimlaji Tikmani Relative of Key Mgt.Personnel

Anuja Tikmani Relative of Key Mgt.Personnel

Note 2:

Contingent Liabilities

Particulars Year ended Year ended 31.03.2015 31.03.2014

Demand of Income Tax Raised by the authorities 904,509 904,509 disputed and not acknowledged as due

Total 904,509 904,509

Note 3:

Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

Note 4:

The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

Note 5:

In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

Note 6:

Previous year figures have been regrouped/reclassified to confirm with current year disclosures.

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Mar 31, 2014

1. All secured loans are secured by hypothecation of all present and future goods, book debts and other movable assets and equitable mortgage of immovable properties & personal guarantee of promoter Directors.

2. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

3. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

4. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. Contingent Liabilities:

There is no contingent liability as informed by the Management.

6. Previous year figures have been regrouped/reclassified to confirm with current year disclosures.

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Mar 31, 2013

1. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

2. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

3. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies'' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the Law.

6. Previous year figures have been regrouped/reclassified to confirm with current year disclosures.

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Mar 31, 2012

1. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

2. Since the business of the company is by way of Food and Beverages, the quantity wise details of purchase, consumption, turnover, stock etc. are not furnished as the items are so large in number that it is not practicable to present.

3. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006; and hence disclosures, if any, relating to amounts unpaid as the' year end together with interest paid of payable as required under said Act, have not been given.

4. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. Contingent Liabilities:

There is no contingent liability as informed by the Management.

6. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the Law.

7. As notified by Ministry of Corporate Affairs, Revised Schedule VI under the Companies Act, 1956 is applicable to the financial Statement for the financial year commencing on or after 1st April,2011. Accordingly, the financial statement for the year ended 31st March 2012 is prepared in accordance with the revised schedule VI. The amount and disclosures included in the financial statement of the previous year have been reclassified to conform to the requirement - of revised schedule VI.

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Mar 31, 2011

1. Share Capital:

40,000 Redeemable Preference Shares issued by the Company have been redeemed in accordance with Provisions of Section 80 / 80A of the Companies' Act, 1956 during the year. Balance redeemable preference shares can be redeemed at any time before 29.08.2013.

2. Unsecured Loans:

The Company has to maintain the unsecured loans in terms of stipulations of State Bank of India which granted loans to the company.

3. Segment Reporting:

The Company is operating in single segment of Manufacturing Laminated Sheets in single geographical segment of India.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The company had not received any intimation from "suppliers" regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid or payable as required under said act, have not been given.

6. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the law.

7. In the opinion of the Management, the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business.

8. Previous year's figures have been regrouped and/or rearranged wherever necessary.

9. Additional information pursuant to the provision of Part II of schedule VI of the Company Act ,1956

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Mar 31, 2010

1. Share Capital:

65,000 Redeemable Preference Shares issued by the Company have been redeemed in accordance with Provisions of Section 80 / 80A of the Companies Act, 1956 during the year. Balance redeemable preference shares can be redeemed at any time before 29.08.2013.

2. Unsecured Loans:

The Company has to maintain the unsecured loans in terms of stipulations of State Bank of India which granted loans to the Company.

3. Segment Reporting:

The Company is operating in single segment of Manufacturing Laminated Sheets in single geographical segment of India.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The company had not received any intimation from "suppliers" regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid or payable as required under said act, have not been given.

6. Deferred Tax

As per Accounting Standard - 22 on Accounting for taxes on income issued by the Institute of Chartered Accountants of India, the company has accounted for deferred tax during the year.

7. Related Party Disclosures :

(A) Related Parties and Their Relationship (a) Associate Parties

i. Amrut Goyal Developers Pvt.Ltd.

ii. Chow Chpon Alfa Ltd.

iii. Tikmani Corporation

iv. Rajendra Enterprise

(b) Key Management Personnel

i. Rishi Tikmani ii. Rajendra Tikmani

(c) Relatives of Key Management Personnel

: i. Pooja Tikmani ii. Vimla Tikmani iii. Rajendra Tikmani (HUF)

8. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the law.

In the opinion of the Management, the Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business.

9. Previous years figures have been regrouped and/or rearranged wherever necessary.