అకౌంట్స్ గమనికలుEuro India Fresh Foods Ltd.

Mar 31, 2025

2.19 Provisions, Contingent Assets and
Contingent Liabilities

A provision is recognised when the Company has a present
obligation as a result of past event and it is probable that an
outflow of resources will be required to settle the obligation
in respect of which reliable estimate can be made. These
estimates are reviewed at each reporting date and adjusted
to reflect the current best estimates. Provisions are discounted
to their present values, where the time value of money is
material.

Contingent assets are neither recognized nor disclosed.
However, when realization of income is virtually certain,
related asset is recognized.

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.

2.20 Earnings per Share

Basic earnings per equity share are 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 (i.e. the
average market value of the outstanding equity shares).
Dilutive potential equity shares are deemed converted as
of the beginning of the period, unless issued at a later date.
Dilutive potential equity shares are determined independently
for each period presented.

Nature and Purpose of Reserves:

(i) Securities Premium Reserve

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

(ii) Fair Value through Other Comprehensive Income

The Company has elected to recognise changes in the fair value of certain assets/liabilities through OCI. These changes are
accumulated within the OCI reserve within other equity. The Company transfers amounts from this reserve to retained earnings
when the relevant assets are derecognised.

This information as required to be disclosed under the Micro, Small & Medium Enterprise Development Act, 2006 has been
determined to the extent such parties have been identified on the basis of the information available with the Company and
provided by the parties.

NOTE 38 - SEGMENT REPORTING

"In accordance with Ind AS 108, the Board of directors being the Chief operating decision maker of the Company
has determined its only business segment as manufacturing and selling of processed food and beverages.
Since the Company''s business is from manufacturing and selling of processed food and beverages and there are no other
identifiable reportable segments. Thus, the segment revenue, segment results, total carrying amount of segment assets, total
carrying amount of segment liabilities, total cost incurred to acquire segment assets, total amount of charge for depreciation
during the year is as reflected in the financial statement.

*All financial assets/liabilities stated above are measured at amorised cost and their carrying values are not considered to be not
materially different from their fair values.

ii) Financial instruments risk management

The Company''s activities expose it to market risk, liquidity risk and credit risk. The Company''s board of directors has overall
responsibility for the establishment and oversight of the Company''s risk management framework. This note explains the sources
of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

A) Credit Risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company''s exposure to credit
risk is influenced mainly by cash and cash equivalents, trade receivables and financial assets measured at amortised cost. The
Company continuously monitors defaults of customers and other counterparties and incorporates this information into its credit
risk controls.

a) Credit risk management

i)Credit risk rating

The Company assesses and manages credit risk of financial assets based on following categories arrived on the basis of
assumptions, inputs and factors specific to the class of financial assets.

A: Low credit risk

B: Moderate credit risk

C: High credit risk

c) Credit loss assessment for trade receivables

Customer credit risk is managed by each business unit subject to the Company''s established policy, procedures and control
relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit review
and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly
monitored. At the year end the Company does not have any significant concentrations of bad debt risk. An impairment analysis
is performed at each reporting date on an individual basis for major clients. The calculation is based on historical data. The
Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade receivables
as low, as its customers are located in several jurisdictions and operate in largely independent markets.

B) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount
of committed credit facilities to meet obligations when due. Due to the nature of the business, the Company maintains flexibility
in funding by maintaining availability under committed facilities.

Management monitors rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of
expected cash flows. The Company takes into account the liquidity of the market in which the entity operates.

Maturities of financial liabilities

The tables below analyse the Company''s financial liabilities into relevant maturity companyings based on their contractual
maturities for all non-derivative financial liabilities and the amounts disclosed in the table are the contractual undiscounted cash
flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.

C) Market Risk
Foreign exchange 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 does not hedge foreign currency exposure arising under such contracts. The Company does not
have foreign currency receivables as well as payables. Therefore the Company is not exposed to Foreign Exchange Risk.

NOTE 42 - FINANCIAL RISK MANAGEMENT
Risk management

The Company''s capital management objectives are to ensure the Company''s ability to continue as a going concern as well as to
provide adequate return to shareholders by pricing products and services commensurately with the level of risk. The Company
monitors capital on the basis of the carrying amount of equity plus its borrowings, less cash and cash equivalents as presented
on the face of the statement of financial position and cash flow hedges recognised in other comprehensive income.

Management assesses the Company''s capital requirements in order to maintain an efficient overall financing structure while
avoiding excessive leverage. This takes into account the subordination levels of the Company''s various classes of debt. The
Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount
of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt. The amounts
managed as capital by the Company for the reporting periods under review are summarised as follows:

47. Debit and credit balances of parties included under the head Sundry Debtors, Current Liabilities Loans & Advances are
subject to confirmation and reconciliation.

In the opinion of the management, Current Assets, Loans and Advances have a realisable value in the ordinary course of business
not less than the amount at which they are stated in the Balance Sheet and provision for all know liabilities and doubtful assets
have been made.

48. PREVIOUS YEAR FIGURES

Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary for better presentation
purpose.

In terms of our report attached

For R P VIDANI & CO For and on behalf of the Board of Directors

Chartered Accountants
ICAI FRN: 137610W

Manharbhai Sanspara Maheshkumar Mavani

Chairman and MD Director

DIN: 02623366 DIN: 02623368

CA Rushi P Vidani Shaileshbhai Sardhara Neha Oswal

Proprietor Chief Financial Officer Company Secretary

Membership No.: 156047 Membership No: A44077

Place: Surat Place: Surat

Date: May 26, 2025 Date: May 26, 2025

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Mar 31, 2024

(Out of above, 51,77,000 Equity Shares issued at Rs.10/- each, 48,00,000 Equity Shares of Rs. 10/- each issued at Share Premium of Rs. 68/-each and 1,48,23,000 Equity Shares at Rs. 10/- each on conversion of unsecured loans.

Terms and Rights attached to the Equity Shares:

The Company has only one class of equity shares having a par value of 10/- per share. Each holder of equity shares is entitled to one vote per share. No Dividends were proposed by the Board of Directors for the financial year 2023-24 / 2022-23. In the event of liquidation of the company, equity shareholders will be entitled to receive remaining assets of the Company after distribution of all preferential amounts.

The distribution shall be in proportion to the number of equity shares held by shareholders.

Nature and Purpose of Reserves:

(i) Securities Premium Reserve

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

(ii) Fair Value through Other Comprehensive Income

The Company has elected to recognise changes in the fair value of certain assets / liabilities through OCI. These changes are accumulated within the OCI reserve within other equity. The Company transfers amounts from this reserve to retained earnings when the relevant assets are derecognised.

Note 36 - Contingent Liabilities			(Amount in Lacs)
Sr.No.	Particulars	As at March 31, 2024	As at March 31, 2023
1	Bank Gurantees	7	7
2	Demand from Income tax*	21	4
Note 37 - Dues to Micro Small and Medium Enterprises			(Amount in Lacs)
Sr.No.	Particulars	As at March 31, 2024	As at March 31, 2023
1	The principal amount remaining unpaid to any supplier as at the end of accounting year	459	98
2	The interest due thereon remaining unpaid to any supplier as at the end of accounting year	-	-
3	The amount of interest paid by the buyer under MSMED Act, 2006 along with the amounts of the payment made to the supplier beyond the appointed day during each accounting year	1,740	115
4	The amount of interest due and payable for the period (where the principal has been paid but interest under the MSMED Act, 2006 but interest not paid)
5	The amount of interest accrued and remaining unpaid at the end of accounting year
6	The amount of further interest due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to the small enterprise, for the purpose of disallowance as a deductible expenditure under section 23 of MSMED Act 2006

This information as required to be disclosed under the Micro, Small & Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been identified on the basis of the information available with the Company and provided by the parties.

Note 38 - Segment Reporting

In accordance with Ind AS 108, the Board of directors being the Chief operating decision maker of the Company has determined its only business segment as manufacturing and selling of processed food and beverages.

Since the Company''s business is from manufacturing and selling of processed food and beverages and there are no other identifiable reportable segments. Thus, the segment revenue, segment results, total carrying amount of segment assets, total carrying amount of segment liabilities, total cost incurred to acquire segment assets, total amount of charge for depreciation during the year is as reflected in the financial statement.

Note 39 - Balance Confirmations

Confirmation of debit and credit balances from certain parties has not yet been received. Their accounts are subject to adjustments, if any, or receipt of the confirmations but in opinion of Management differences in balances if any will not be material.

Defined Benefit Plan : General Description

Gratuity: Each employee rendering continuous service of 5 years or more is entitled to receive gratuity amount equal to 15/26 of the monthly emoluments for every completed year of service subject to maximum of '' 20 Lakhs at the time of separation from the company.

The following tables summarise the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet for the respective plans:

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 occurring at the end of the reporting period.

ii) Financial instruments risk management

The Company''s activities expose it to market risk, liquidity risk and credit risk. The Company''s board of directors has overall responsibility for the establishment and oversight ofthe Company''s risk management framework. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

A) Credit Risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company''s exposure to credit risk is influenced mainly by cash and cash equivalents, trade receivables and financial assets measured at amortised cost. The Company continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk controls.

a) Credit risk management

i) Credit risk rating

The Company assesses and manages credit risk of financial assets based on following categories arrived on the basis of assumptions, inputs and factors specific to the class of financial assets.

A: Low credit risk B: Moderate credit risk C: High credit risk

Based on business environment in which the Company operates, a default on a financial asset is considered when the counter party fails to make payments within the agreed time period as per contract. Loss rates reflecting defaults are based on actual credit loss experience and considering differences between current and historical economic conditions

Assets are written off when there is no reasonable expectation of recovery, such as a debtor declaring bankruptcy or a litigation decided against the Company. The Company continues to engage with parties whose balances are written off and attempts to enforce repayment. Recoveries made are recognised in statement of profit and loss

c) Credit loss assessment for trade receivables

Customer credit risk is managed by each business unit subject to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit review and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored. At the year end the Company does not have any significant concentrations of bad debt risk. An impairment analysis is performed at each reporting date on an individual basis for major clients. The calculation is based on historical data. The Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely

B) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the nature of the business, the Company maintains flexibility in funding by maintaining availability under committed facilities. Management monitors rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity operates.

Maturities of financial liabilities

The tables below analyse the company''s financial liabilities into relevant maturity companyings based on their contractual maturities for all non-derivative financial liabilities and the amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.

C) Market Risk

Foreign exchange 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 does not hedge foreign currency exposure arising under such contracts. The Company does not have foreign currency receivables as well as payables. Therefore the Company is not exposed to Foreign Exchange Risk.

Note 42 - Financial risk management Risk management

The Company''s capital management objectives are to ensure the Company''s ability to continue as a going concern as well as to provide adequate return to shareholders by pricing products and services commensurately with the level of risk. The Company monitors capital on the basis of the carrying amount of equity plus its borrowings, less cash and cash equivalents as presented on the face of the statement of financial position and cash flow hedges recognised in other comprehensive ⁱM^nca^on^mag^ee^. ment assesses the Company''s capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the Company''s various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt. The amounts managed as capital by the Company for the reporting periods under review are summarised as follows:

b The title in respect of self-constructed buildings and title deeds of other immovable properties, disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the Company.

c The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

d The Company has not been declared as a wilful defaulter by any lender who has the power 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.

e The Company does not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year. f The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (RoC) beyond the statutory period. g The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

h No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Group to or in any other person(s) or entity(ies), including foreign entities

("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Group (Ultimate Beneficiaries). Further, The Group has not received any fund from any party(s) (Funding Party) with the understanding that the Group shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Group ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

46 Debit and credit balances of parties included under the head Sundry Debtors, Current Liabilities Loans & Advances are subject to confirmation and reconciliation.

In the opinion of the management, Current Assets, Loans and Advances have a realisable value in the ordinary course of business not less than the amount at which they are stated in the Balance Sheet and provision for all know liabilities and doubtful assets have been made.

47 Previous year figures

Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary for better presentation purpose.

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Mar 31, 2023

(Out of above, 51,77,000 Equity Shares issued at Rs.10/- each, 48,00,000 Equity Shares of Rs. 10/- each issued at Share Premium of Rs. 68/-each and 1,48,23,000 Equity Shares at Rs. 10/- each on conversion of unsecured loans.

Terms and Rights attached to the Equity Shares:

The Company has only one class of equity shares having a par value of ''10/- per share. Each holder of equity shares is entitled to one vote per share. No Dividends were proposed by the Board of Directors for the financial year 2022-23 / 2021-22. In the event of liquidation of the company, equity shareholders will be entitled to receive remaining assets of the Company after distribution of all preferential amounts.

The distribution shall be in proportion to the number of equity shares held by shareholders.

Nature and Purpose of Reserves:

(i) Securities Premium Reserve

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

(ii) Fair Value through Other Comprehensive Income

The Company has elected to recognise changes in the fair value of certain assets / liabilities through OCI. These changes are accumulated within the OCI reserve within other equity. The Company transfers amounts from this reserve to retained earnings when the relevant assets are derecognised.

This information as required to be disclosed under the Micro, Small & Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been identified on the basis of the information available with the Company and provided by the parties.

Note 38 - Segment Reporting

In accordance with Ind AS 10S, the Board of directors being the Chief operating decision maker of the Company has determined its only business segment as manufacturing and selling of processed food and beverages.

Since the Company''s business is from manufacturing and selling of processed food and beverages and there are no other identifiable reportable segments. Thus, the segment revenue, segment results, total carrying amount of segment assets, total carrying amount of segment liabilities, total cost incurred to acquire segment assets, total amount of charge for depreciation during the year is as reflected in the financial statement.

Note 39 - Balance Confirmations

Confirmation of debit and credit balances from certain parties has not yet been received. Their accounts are subject to adjustments, if any, or receipt of the confirmations but in opinion of Management differences in balances if any will not be material.

Defined Benefit PLin : General Description

Gratuity: Each employee rendering continuous service of 5 years or more is entitled to receive gratuity amount equal to 15/26 of the monthly emoluments for even* completed year of sen*ice subject to maximum of'' 20 Lakhs at tire time of separation from the company.

The following tables summarise the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet for the respective plans:

ii) Financial instruments risk management

The Company''s activities expose it to market risk, liquidity risk and credit risk. The Company s board of directors has overall responsibility for the establishment and oversight of the Company''s risk management framework This note ev plains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

A) Credit Risk

Credit riskis theriskthata counterparts''fails to discharge its oblige bon to the Company. The Company s exposure to creditrisk is influenced mainly by cash and cash equivalents trade Tec eivables and financial assets measured atamorbsedcost.TheCompanyconbnuouslymonitors defaults of customs* and other counterparties and incorporates this information into its credit riskcontrols.

a) Credit risk management

i) Credit risk rating

The Company assesses and manages credit nsk of financial assets based on following categones arrived on the basis of assumpbons inputs and factors specific to theclass of financial assets.

A: Loss* credit risk B: Mo da-ate credit risk C:Higi credit risk

Based onbusiness environment m which the Company opaates a default on a financial asset is considered when the counta parts* fails to make payments within the agreed time period as per contract. Loss rates reflating defaults are based on actual credit loss experience and considering differences between current and his to heal economic conditions

Assets are written off when there is no reasonable expectation of recovay. such as a detrtor declaring bankruptcy or a lib gab on decided againstthe Comp any. The Comp any continues to engage with parties whose balances are written off and attanpts to enforce repayment Recoveries made a re reco^used m statement of profit and loss

c) Credit loss assessment for trade receivables

Customer credit risk is managed by each business unit subject to the Company''s esta Wished policy, procedures and control relating to cus tomer credi t n sk management Credit quality of a customer is assessed based an an extensive credit review and individual creditlimife are defined in accordance wi fir this assessment Outs tan ding customer receivables are regularly mom teed. At the year end the Company d oes not haw any significant concentrations of bad debt risk An imp airment analysis is p erformed at each reporting date cn an individual basis for major clients. The calculation is based on historical data. The Conpanv does not hold collateral as security. The Company evaluates the concentration of nsk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

6) Liquidity risk

Prudent liquid it>* risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the nature of the business, the Conpanv maintains flexibility in funding by maintaining availability under committed facilities.

Management monitors rolling forecasts of the Conpanv''s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Conpanv fakes into account the liquidity of the market in which the entity operates.

Mahu ities of financial liabilities

The tables below analyse the conpanv''s financial liabilities into relevant ma tiirity ccmpamingp based cn their contractual maturities for all nan-derivative financial liabilities and the amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant

q Market Risk

Foreign exchange risk -

Forei gn currency risk is th e risk that the fair value or future c ash flows of an exp osure will flue tua te becau se of changes 1 n foreign e*c hange rates. The Conpanv does not hedge fora gn currency exposure arising under such contracts. The Conpanv does not have foreign currency receivables as well as payahles Therefore the Conpanv is not exposed to Foreign Eve hange Risk.

Note 42- Financial risk management Risk management

The Company''s capital management objectives are to msure the Conpany s ability toccntinue as a gang concern as well as to proude adequate return to shareholders by pricing products and services commensuiately with the level of risk. The Conpanv monitors capital on the basis of the earning amount of equity plus ite borrowing?, less cash and cash equivalents as presented on the face of the statement of financial positionand cash flow hedges recognised in other ccupiehensive income.

Management assesses the Conpan/s capital requirements in order to maintain an efficient overall financing struc tore while avoiding excessive leverage This fakes into account the subordination levels of the Conpan/s various classes of debt. The Conpanv manages thecapifal structure and makes adjustments to it in the light of changes m economc conditions and the risk characteristic s of the underlying assets. In order to maintain or adjust the capital struc ture, the Conpanv may adjust the amount of dividends paid to shareholders. return capital to shareholders, issue new shares, or sdl assets to reduce debt. The amounts managed as capital by the Conpanv for the reporting penods under review are summarised as follows:

b The title m respect of self-constructed buildings and title deeds of other immovable properties, disclosed m the financial statements included under Property, Plant and Equipment are he 1dm the name of the Company.

c The Company doe not have any Benamipropety, v, haeany proceeding has beat initiated or paidiig against theCompany far holding any Baiamipropety unde Senam ilia ns actions (Prohibition) Act, 19SS (-45 of 19SS)l

d The Company has not been declared as a wilftt 1 defau Iter by any lender who has the power to dec lam a C omp any as a w iltu 1 de £a ulte r at any time dunng the hnanoal year or after the end of reporting period bn t before the date when the financial statements an approved.

e The Company doe not have any mataial transactions with comp am* strudoffunda Section 24$ of the Com pan ie Act, 2013 or Section 560 of Companies Act, 1956 duiingthefinancial yea:, f The Company doe s not have anycharges or satisfaction wluchisyetto be regstered with the Registrar of Companies (RoC) beyond the statu tory period g The Company has not tra de dor invested in Crypto currency or \irtua! Currency dimng the financial par.

h No funds havebeen advanced os loaned or inve ted (other 6 om borrowed fundsor share pier, ium or any oth* source or hind offunds)by the Group tocr in any ether per som(s) or «itity{ie)t including for agn entities (“Intamediarie'') withtheund* standing, wheha recorded in writing or oth* wist that the Intermediary shall lend or invet in party idaititiedby or onbAalfoftheGroup (UltimateBenehciarie). Faith*, TheGroup has not received any fund 6am any partyjs ((Funding Party) w iihtheundestandingthat the Group shall w hetha, diectly or indirectly laid or invet in oth* pesonsor aititie idartified by or on bAalfoftheGroup ("Ultimate Baieiciarie'') or provide any guarantee security or the lilecn behalf of the UltimateBeneficiajie.

46 Debit and credit balances of parties included under the head Sundry Debtors, Current Liabilities Loans & Advances are subject to confirmation and reconciliation.

In the opinion of the management, Current Assets, Loans and Advances have a realisable value in the ordinary course of business not less than the amount at which they are stated in the Balance Sheet and provision for all know liabilities and doubtful assets have been made.

47 Previous year figures

Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary for better presentation purpose.

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Mar 31, 2021

CONTINGENT LIABILITIES

Contingent Liabilities not provided in respect of - (Rs in lacs)

	Particulars	As at 31.03.2021	As at 31.03.2020
(a)	Bank Guarantee issued by Bank	41.32	30.00
(b)	Duty saved against Advance Authorization / EPCG (net of BG issued against the same)	0.00	6.31
(c)	Claim against the company not acknowledged as debts
(i)	In respect of Income Tax	1.62	4.68
(ii)	In respect of Excise Duty	0.00	0.00
(iii)	In respect of Civil Case	0.00	0.00
(iv)	In respect of VAT	0.00	0.00

i. The related party relationships have been determined by the company on the basis of the requirements of the Accounting Standard (AS)-18 "Related Party Disclosures".

ii. The relationships as mentioned above pertain to those related parties with whom transactions have taken place during the current year/previous year.

SEGEMENT REPORTING -

The Company is engaged in the business of manufacturing and selling of processed food and beverages which is considered to be the only reportable business segment as per Accounting Standard 17 on Segment Reporting.

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Mar 31, 2018

1.5 The Company has only one class of equity shares. Each shareholder is eligible for one vote per share.

1.6 The Company does not have any holding company.

1.7 There are no bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date.

1.8 There are no shares reserved for issue under option of control or commitments for sale of shares / disinvestment.

1.9 There are no unpaid calls from any Director and officer._

Note :

3.1 Term Loans of Rs. 799.97 lacs from Central Bank of India, secured by a first pari passu charge created on movable and immovable assets of Company''s Plant at Surat, both present and future. Further the loans are secured by the personal guarantee given by the directors.

3.2 Term Loan of Rs. 4.61 lacs from ICICI Bank is secured by hypothecation of vehicle.

3.3 Term Loan of Rs. 11.55 lacs from Yes Bank is secured by hypothecation of vehicle.

3.4 Term Loan of Rs. 14.26 lacs from Yes Bank is secured by hypothecation of vehicle.

3.5 Term Loan of Rs. 20.06 lacs from Yes Bank is secured by hypothecation of vehicle

3.6 Term Loan of Rs. 20.06 lacs from Yes Bank is secured by hypothecation of vehicle

3.7 Unsecured Loans of Rs. 23.50 lacs from directors are interest free and repayable on demand.

3.8 Unsecured Loans of Rs. 23.79 lacs from body corporate is interest free and repayable on demand._

Note :

Represent Working Capital borrowings secured by hypothecation of stocks and book debts and mortgage of immovable assets of Company''s Plant at Surat, both present and future. Further the loans are secured by the personal guarantee given by the directors.

NOTE - 1:-CORPORATE INFORMATION

Euro India Fresh Foods Limited was originally incorporated as a Private Limited Company under the provisions of the Companies Act, 2013 (erstwhile Companies Act, 1956) vide Certificate of Incorporation dated August 13, 2009 bearing Corporate Identity Number UI5400GJ2009PTC057789 issued by the Registrar of Companies, Gujarat. Subsequently, Company was converted into Public Limited Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of Company held August 19, 2016 and a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated September 07, 2016 was issued by the Registrar of Companies, Ahmedabad. The shares of company got listed on NSE Emerge on March 31, 2017.

The Company is engaged in the business of manufacturing and selling of processed food and beverages.

The financial and presentation currency of the Company is Indian Rupee which is the currency of the primary economic environment in which the Company operates.

The financial statements for the year ended March 31, 2018 were approved by the Board of Directors and authorized for issue on May 9, 2018.

19) Ind. AS is not applicable to the Company in view of clause (ii) of sub - rule (1) of Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015.

20) Previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary to confirm with current year’s figures.

21) Figures have been rounded off to the nearest rupee.

NOTE - 2:-EARNING PER SHARE

Basic Earnings per Share is calculated by dividing the Net Profit after tax attributable by the number of weighted average equity shares outstanding during the year.

NOTE - 3:-SEGMENT REPORTING -

The Company is engaged in the business of manufacturing and selling of processed food and beverages which is considered to be the only reportable business segment as per Accounting Standard 17 on Segment Reporting. The Company mainly operates in India and there is no other significant geographical segment.

NOTE - 4:-Utilization of Initial Public Offering:-

During the year ended 31^st March, 2017 the company has raised 374.4 lacs by way of Initial Public Offering by issuing 48, 00,000 shares having face value of Rs. 10 per share and share premium of Rs 68 Per Share aggregating Rs 78 per share dated March 30, 2017 for the purpose of Working Capital Requirement, Repayment of certain Unsecured Loan and General Corporate purpose.