అకౌంట్స్ గమనికలుHisar Metal Industries Ltd.

v) Accounting for Provisions, Contingent Liabilities & Contingent Assets

In conformity with Ind-AS 37, Provisions, Contingent Liabilities and Contingent Assets'', issued by the
ICAI. A provision is recognized when the Company has a present obligation as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions (excluding retirement benefits and compensated
absences) are not discounted to their present value and are determined based on the best estimate
required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date adjusted to reflect the current best estimates.

Contingent liabilities are not recognized in the financial statements.

A contingent asset is neither recognized nor disclosed in financial statements.

w) Provision for doubtful debts

The Management reviews on a periodical basis the outstanding debtors with a view to determine as
to whether the debtors are good, bad or doubtful after taking into consideration all the relevant
aspects. On the basis of such review and in pursuance of other prudent financial considerations the
management determines the extent of provision to be made in the accounts.

x) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest to
Lakhs except share & per share data, as per the requirement of Schedule III, unless otherwise stated.

Working Capital Loans from Banks (Current and Non Current)

Security

Company has obtained Cash Credit Limit of Rs. 5500.00 Lakhs from HDFC Bank, both fund and non fund base, is secured against hypothecation of stock of
finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors of which Rs. 3105.19 Lakhs is outstanding at
year end, on account of reconciliation. During the year, the company has also obtain the limit of Rs. 2900.00 lakhs from ICICI Bank, both fund and non fund
base, against the hypothecation of "Current Assets" and "Immovable Assets" along with the guarantee provided by the director(s) and their business units, of
which Rs. 3101.50 Lakhs (including interest) is outstanding at the end of the year.

Terms and conditions of transactions with related parties :

1. The Company has been entering into transactions with related parties for its business purposes.Related party vendors are selected competitively in
line with other unrelated parties having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors
provide additional advantages in terms of:

(a) Supplying products primarily to the Company

(b) Advanced and innovative technology

(c) Customisation of products to suit the Company''s specific requirements, and

(d) Enhancement of the Company''s purchase cycle and assurance of just in time supply with resultant benefits-notably on working capital.

2. The purchases from and sales to related parties are made on terms equivalent to and those applicable to all unrelated parties on arm''s length
transactions. Outstanding balances payable and receivable at the year-end are unsecured, interest free and will be settled in business transactions

Note : 37 Segment Reporting

In accordance with IND AS 108 "Operating Segments", the Board of Directors of the company, being the Chief Operating Decision Maker of the company has
determined "Stainless Steel Products" as the only operating segment.

Note : 38 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet derived after taking all Ind (AS) into consideration.

(b) Terms/Rights attached to Equity Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. Each equity shareholder is entitled for one vote per share. The Company declares and pay dividend in Indian Rupees.

During the year ended March 31, 2025, the amount of dividend recognised as distribution to equity shareholders was Rs. 1.00 per share (previous year Rs. 1.00 share)

The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law, in particular the Companies Act, 2013.

The Company is subject to Income Tax in India on the basis of its financial statements. The Company can claim tax exemptions/deductions under specific sections of the Income Tax Act, 1961 subject to fulfillment of prescribed conditions, as may be applicable. The Company during the year ended on 31.03.2021 has opted for the new tax regime under Section 115BAA of the Act, which provide a domestic company with an option to pay tax at a rate of 22% (effective rate of 25.168%). The lower rate shall be applicable subjet to certain conditions, including that the total income should be computed without claiming specific deductions or exemptions.

Terms and conditions of transactions with related parties :

1. The Company has been entering into transactions with related parties for its business purposes.Related party vendors are selected competitively in line with other unrelated parties having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantages in terms of:

(a) Supplying products primarily to the Company

(b) Advanced and innovative technology

(c) Customisation of products to suit the Company''s specific requirements, and

(d) Enhancement of the Company''s purchase cycle and assurance of just in time supply with resultant benefits-notably on working capital.

2. The purchases from and sales to related parties are made on terms equivalent to and those applicable to all unrelated parties on arm''s length transactions. Outstanding balances payable and receivable at the year-end are unsecured, interest free and will be settled in business transactions

Haryana Government had imposed a levy namely Local Area Development Tax in the year 2007. However, the matter is pending in the Supreme Court.

Note : 37 Segment Reporting

In accordance with IND AS 108 "Operating Segments", the Board of Directors of the company, being the Chief Operating Decision Maker of the company has determined "Stainless Steel Products" as the only operating segment.

Note : 38 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet derived after taking all Ind (AS) into consideration.

(b) Terms/Rights attached to Equity Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. Each equity shareholder is entitled for one vote per share. The Company declares and pay dividend in Indian Rupees.

During the year ended March 31, 2024, the amount of dividend recognised as distribution to equity shareholders was Rs. 1.00 per share (previous year Rs. 1.00 share)

The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law, in particular the Companies Act, 2013.

(a) Reconciliation of Equity shares and amounts outstanding

Working Capital Loans from Banks (Current and Non Current)

Security

Company has obtained Cash Credit Limit of Rs.1800.00 Lakhs from HDFC Bank is secured against hypothecation of stock of finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors of which Rs. 1913.72 Lakhs is outstanding at year end, on account of reconciliation.

Note : 33 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet dervied after taking all Ind (AS) into consideration.

Note : 1 Disclosure as per IND AS-19 Retirement Benefits:

Post Retirement Employee Benefit:

Description of Plan Gratuity

Leave Encasement Principal actuarial assumptions:

Note : 2 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet dervied after taking all Ind (AS) denationrcosi.

1. Terms/Rights attached to Equity Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law,in particular the Companies Act,2013.

2. Disclosure as per Accounting Standard -18 on Related Party Disclosures

(i) Name of the associates with whom transactions were carried out during the year.

Associate Concerns

1 Jindal Polybutton Limited

2 Jindal Metal Limited

3 Amtrex Trading Co. Pvt. Ltd

Name of the key management personnel and their relatives with whom transactions were carried out during the year

(ii) Key management personnel & their relatives:

1 Sh. Abhiram Tayal Managing Director

Abhiram Tayal HUF HUF

2 Smt. Anubha Tayal Director

Sh. Vikram Kumar Jain Brother

3 Sh. Karan Dev Tayal Director

Smt. Kashni Tayal Wife

Note : 1 Disclosure as per AS15-Retirement Benefits: Post Retirement Employee Benefit:

Description of Plan Gratuity

Leave Encasement

Note : 2 Disclosure as per Accounting Standard -18 on Related Party Disclosures

(i) Name of the associates with whom transactions were carried out during the year.

Associate Concerns

1 Jindal Polybutton Limited

2 Jindal Metal Limited

3 Amtrex Trading Co. Pvt, Ltd

Name of the key management personnel and their relatives with whom transactions were can out during the year

(ii) Key management personnel & their relatives

1 Sh. Abhiram Tayal Managing Director

Abhiram Tayal HUF HUF ~

2 Smt. Anubha Tayal Director

Sh. Vikram Kumar Jain Brother

3 Sh. Karan Dev Tayal Director

Smt. Kashni Tayal Wife

The Central Excise Department had made a demand of Rs.385377/- towards tax liablity for the year 2000. Management contends that the Company has sufficent grounds to defend its position and has already filed appeal with appellate authorities.

Haryana Government had imposed a levy namely Local Area Development Tax sin the year 2007. However, the matter is pending in the Supreme Court

Note : 1 Disclosure as per Accounting Standard -18 on Related Party Disclosures

(i) Name of the associates with whom transactions were carried out during the year.

Associate Concerns

1. Jindal Polybutton Limited (Job work)

2. Jindal Metal Limited

3. Amtrex Trading Co. Pvt. Ltd.

Name of the key management personnel and their relatives with whom transactions were carried out during the year

(ii) Key management personnel & their relatives :

1. Sh. Abhiram Tayal Managing Director AbhiramTayalHUF HUF

2. Smt. Anubha Tayal Director Sh. Vikram Kumar Jain Brother

3. Sh. Karan Dev Tayal Director Smt. Kashni Tayal Wife

Note : 2 Previous Year Figures

Previous year figures are regrouped, wherever necessary.

Notes referred to above and notes attached thereto form an integral part of financial statements.

(a) Terms/Rights attached to Equity Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law,in particular the Companies Act, 1956.

Working Capital Loans from Banks (Current and Non Current)

Security

a. Cash Credit of Rs. 179997438 from Punjab National Bank is secured against hypothecation of stock of finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors.

b. Working Capital Demand Loan of Rs.202165753 from Punjab National Bank is secured against hypothecation of stock of finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors.

c. Foreign Currency Loan - Buyer's Credit of Rs.71631095 is secured against hypothecation of stock of finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors.

Note : 1 Disclosure as per Accounting Standard -18 on Related Party Disclosures

(i) Name of the associates with whom transactions were carried out during the year.

Associate Concerns

1. Ravindra Tubes Limited Hisar

2. Jindal Polybutton Limited

3. Jindal Product Limited

4. Jindal Metal Limited

5. Amtrex Trading Co. Pvt. Ltd.

Name of the key management personnel and their relatives with whom transactions were carried out during the year

(ii) Key management personnel & their relatives :

1. Sh. AbhiramTayal Managing Director AbhiramTayal HUF HUF

2. Smt.AnubhaTayal Director Sh. Vikram Kumar Jain Brother

3. Sh. Karan DevTayal Director Smt. Kashni Tayal Wife

The Central Excise Department had made a demand of Rs.385377/- towards tax liablity for the year 2000. Management contends that the Company has sufficent grounds to defend its position and has already filed appeal with appellate authorities.

Haryana Government had imposed a levy namely Local Area Development Tax in the year 2007. However, the applicablity of the levy has been challanged and the appeal is pending in the Hon'ble Punjab & Haryana HighCourt and matter is still pending, therefore, no provision in this regard has been made.

Note : 2 Previous Year Figures

Financial statements for the year ended 31 st March, 2012 have been prepared based on revised Schedule VI of the Companies Act, 1956. The adoption of revised Schedule VI does not impact recognition and measurement principles of individual items within this Financial statments. However, it has significant impact on presentation and disclosures made in the financial statements. The Company has accordingly reclassified the previous year's figures to meet the requirements applicable for the current year.

Notes referred to above and notes attached thereto form an integral part of financial statements.

1. Disclosure as per ASt5-Retirement Benefits : Post Retirement Employee Benefit: a) Description of Plan i) Gratuity ii) Leave Encasement

2. CONTINGENT LIABILITIES NOT PROVIDED FOR 31.03.2010 31.03.2009 (Rs.) (Rs.)

a) Cheques/Bills/LCs/FLCs discounted with Companys Banker 47818738 36172449

b) Guarantee issued by banker for which counter guarantee given by the Company 1298007 1198007

c) Debts not acknowledge as debt

i) In respect of Excise Duty 385377 385377

ii) In respect of Electricity 210630 210630

iii) In respect of Sales Tax 667720 667720

iv) In respect of Haryana State Pollution Control Board 100000 -

d) Capital Commitments (Net of Advances) 5000000 6290000

e) Local Area Development Tax 12499723 7245178

3. Internal salaries and wages incurred during the year on repair and maintenance have been charged directly to salaries and wages account, the separate amount of which are not ascertainable.

4. -Stores and spares consumed during the year on repair and maintenance has been charged directly to store and spares consumed.

5. Disclosure on related party transactions:

Description of relationship and Names of related parties :-

i) Key Management Personnel : Sh. Abhiram Tayal (Managing Director)

Smt. Anubha Tayal (Director)

Sh. Karan Dev Tayal (Director)

ii) Relative of Key Management Personnel : Smt. Kashni Tayal

Sh. Vikram Kumar Jain iii) Associate Concerns : M/s. Ravindra Tubes Limited, Hisar

M/s. Jindal Polybutton Ltd., Hisar

M/s. Jindal Product Ltd., Hisar

M/s. Jindal Metal Ltd., Hisar

M/s. Amtrex Trading Co. Pvt. Ltd., Hisar

M/s. North Cott. Gin. & Trading Co. Pvt. Ltd., Hisar



6. Sundry Creditors for goods and expenses include dues to Small Scale Industrial Undertakings aggregating to Rs. Nil. (Previous Year Rs.Nil).

7. Previous year figures have been regrouped and/or rearranged wherever considered necessary and practical to make them comparable with current years figures.

8. Schedule A to T is annexed to and form an integral part of Balance Sheet and Profit and Loss account and has been duly authenticated.

1, Disclosure as per AS15-Retirement Benefits : Post Retirement Employee Benefit: a) Description of Plan

i) Gratuity

ii) Leave Encasement

2. CONTINGENT LIABILITIES NOT PROVIDED FOR 31.03.2009 31.03.2008 (Rs.) (Rs.)

a) Cheques/Bills/LCs/FLCs discounted with Companys Banker 3,61,72,449 7,87,40,968

b) Guarantee issued by banker for which counter guarantee given by the Company 11,98,007 11,98,007

c) Debts not acknowledge as debt

i) In respect of Excise Duty 3,85,377 3,85,377

ii) In respect of Electricity 2,10,630 2,10,630

iii) In respect of Sales Tax 6,67,720 6,67,720

d) Capital Commitments (Net of Advances) 62,90,000 3,75,26,850

e) Local Area Development Tax 72,45,178 43,33,378

3. Internal salaries and wages incurred during the year on repair and maintenance have been charged directly to salaries and wages account, the separate amount of which are not ascertainable.

4. Stores and spares consumed during the year on repajr and maintenance has been charged directly to store and spares consumed.

5. Disclosure on related party transactions :

Description of relationship and Names of related parties :-

i) Key Management Personnel : Sh. Abhiram Tayal (Managing Director)

Smt. Anubha Tayal (Director) Sh. Karan Dev Tayal (Director)

ii) Relative of Key Management Personnel :

Smt. Kashni Tayal

Sh. Vikram Kumar Jain

iii) Associate Concerns :

M/s. Ravindra Tubes Limited, Hisar

6. Sundry Creditors for goods and expenses include dues to Small Scale Industrial Undertakings aggregating to Rs. Nil. (Previous Year Rs.Nil).

7. Additional information pursuant to the provisions of paragraph 3 & 4 of part II of Schedule VI of the Companies Act, 1956.

8. Previous year figures have been regrouped and/or rearranged wherever considered necessary and practical to make them comparable with current years figures.

9. Schedule A to T is annexed to and form an integral part of Balance sheet and Profit and Loss account and has been duly authenticated.