అకౌంట్స్ గమనికలుM Lakhamsi Industries Ltd.

Mar 31, 2025

16. Provisions, contingent liabilities and contingent assets

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 are measured at the present value of management''s best estimate of
the amount required to settle the present obligation at the end of the reporting
period. The discount rate used to determine the present value is a pre-tax rate
that reflects the current market assessments of time value of money and the
risks specific to the liability. The increase in the provision due to passage of time
is recognized as interest expense. The provisions are reviewed at each balance
sheet date and adjusted to reflect the current management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise
from past events, whose existence would be confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the
control of the Company.

Contingent assets are not recognized in the standalone financial statements.
However, it is recognized only when an inflow of economic benefits is probable.

17. Employee Benefits

A) Short term employee benefits: All employee benefits which are due within
twelve months of rendering the services are classified as short-term
employee benefits. Benefits such as salaries, wages, short term compensated
absences, etc. and the expected cost of bonus, ex-gratia are recognized in
the year in which the employee renders the related service.

18. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss [excluding
other comprehensive income / (loss)] for the year attributable to equity
shareholders by the weighted average number of equity shares outstanding during
the year. The weighted average number of equity shares outstanding during the
year is adjusted for events such as bonus issue, bonus element in a rights issue,
share split and reverse share splits (consolidation of shares) that have changed
the number of equity shares outstanding, without a corresponding change in
resources. For the purpose of calculating diluted earnings per share, the net profit
or loss (excluding other comprehensive income

/ (loss)) for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year are adjusted for the
effects of all dilutive potential equity shares.

19. Operating Cycle

Based on the nature of products / activities of the Company and the normal time
between acquisition of assets and their realization in cash or cash equivalents,
the Company has determined its operating cycle as 12 months for the purpose of
classification of its assets and liabilities as current and non-current.

20. Contributed equity

Equity shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from the proceeds.

21. Exceptional items

When items of income and expense within standalone statement of profit and
loss from ordinary activities are of such size, nature or incidence that their
disclosure is relevant to explain the performance of the enterprise for the year, the
nature and amount of such material items are disclosed separately as
exceptional items.

Critical estimates and judgements

The preparation of standalone financial statements in conformity with Ind AS
requires estimates and assumptions to be made by the management of the
Company that affect the reported amounts of assets and liabilities on the date
of the financial statements and the reported amounts of revenues and
expenses during the reporting period.

The Management believes that these estimates are prudent and reasonable
and are based upon the Management''s best knowledge of current events and
actions. Actual results could differ from these estimates and differences
between actual results and estimates are recognized in the year in which the
results are known or materialized.

This note provides an overview of the areas that involved a higher degree of
judgment or complexity, and items which are more likely to be materially
adjusted due to estimates and assumptions turning out to be different than
those originally assessed.

(i) Estimated useful life of property, plant and equipment, intangible
assets, and investment property:

The Company reviews the useful lives of property, plant and equipment,
Investment properties and intangible assets at the end of each reporting
period. This reassessment may result in change in depreciation and
amortization expense in future periods.

(ii) Impairment of carrying value of property, plant and equipment,
capital work-in-progress, intangible assets and investment
property:

The recoverable amount of property plant and equipment, capital work-in¬
progress is based on estimates and assumptions regarding the
expected Depreciated Replacement Cost (DRC) method under Cost
Approach. Any changes in these assumptions may have a material impact
on the measurement of the recoverable amount and could result in
impairment. Fair value less cost to sell for assets classified as held for
sale:

The fair valuation of the investment property is determined using ''Sales
Comparison Method'' under Market Approach using composite rate of

commercial offices by comparing the investment property with similar
properties that have recently been sold near the location of investment
property. Comparable properties are selected for similarity to the subject
property by considering attributes like age, size, shape, quality of
construction, building features, condition, design, etc.

(iii) Estimation of current tax expenses and recognition of deferred tax
assets:

The Company calculates income tax expense based on reported income and
estimated exemptions / deduction likely available to the Company.
Recognition of deferred tax assets depends upon the availability of future
profits against which tax losses carried forward can be used.

(iv) Probable outcome of matters included under contingent liabilities:

Management has estimated the possible outflow of resources at the end of
each annual reporting financial year, if any, in respect of contingencies/
litigations against the Company as it is not possible to predict the outcome
of pending matters with accuracy.

(v) Provision for doubtful debts:

Trade receivables do not carry any interest and are stated at their nominal
value as reduced by appropriate allowances for estimated irrecoverable
amounts. Under Ind AS, impairment allowance has been determined based
on Expected Credit Loss (ECL) model. Estimated irrecoverable amounts are
based on the ageing of the receivable balance and historical experience.
Individual trade receivables are written off if the same are not collectible.

24. Foreign Exchange Earnings & Outgo :

Total Foreign Exchange used

-For Import Purchase of Raw Materials or Finished Goods - Rs. 11,09,91,998/-

-For Expenses - Rs. 79,09,643/-

Total Foreign Exchange Earned

-For Export Sale of Raw Materials or Finished Goods - Rs. 24,45,94,181/-

25. The Company does not have any Benami property, where any proceeding has been
initiated or pending against the Company for holding any Benami property.

26. The Company does not have any transactions with companies struck off by
Registrar of Companies (ROC).

27. The Company does not have any charges or satisfaction which is yet to be
registered with ROC beyond the statutory period.

28. The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year.

29. The Company does not have any such transaction which is not recorded in the
books of accounts that has been surrendered or disclosed as income during the
year in the tax assessments under the Income Tax Act, 1961 (such as, search or
survey or any other relevant provisions of the Income Tax Act, 1961).

30. No funds have been advanced or loaned or invested by the Company to or in any
person(s) or entity(ies), including foreign entities (''the intermediaries''), with the
understanding, whether recorded in writing or otherwise, that the intermediary
shall, whether, directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Company (''the Ultimate
Beneficiaries'') or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

31. No funds have been received by the Company from any person(s) or entity(ies),
including foreign entities (''the Funding Parties''), with the understanding, whether
recorded in writing or otherwise, that the Company shall, whether directly or
indirectly, lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (''Ultimate Beneficiaries'') or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

For and on behalf of Board of Directors of
TDK & Co. For M LAKHAMSI INDUSTRIES LIMITED

Chartered Accountants
Firm Regn No: 109804W

Sd/- Sd/-

Sd/-

Neelanj Shah Sanjiv Sawla Mallika Sawla

(Partner) Director Director

Membership No: 121057 Din- 02045968 Din-01943285

Place: Mumbai

Date: 28-05-2025

UDIN: 25121057BMJHPF3093

Sd/-

Pooja

Company Secretary

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Mar 31, 2024

16. Provisions, contingent liabilities and contingent assets

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 are measured at the present value of management''s best estimate of
the amount required to settle the present obligation at the end of the reporting
period. The discount rate used to determine the present value is a pre-tax rate
that reflects the current market assessments of time value of money and the
risks specific to the liability. The increase in the provision due to passage of time
is recognized as interest expense. The provisions are reviewed at each balance
sheet date and adjusted to reflect the current management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise
from past events, whose existence would be confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the
control of the Company.

Contingent assets are not recognized in the standalone financial statements.
However, it is recognized only when an inflow of economic benefits is probable.

17. Employee Benefits

A) Short term employee benefits: All employee benefits which are due within
twelve months of rendering the services are classified as short-term
employee benefits. Benefits such as salaries, wages, short term
compensated absences, etc. and the expected cost of bonus, ex-gratia are
recognized in the year in which the employee renders the related service.

18. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss
[excluding other comprehensive income / (loss)] for the year attributable to
equity shareholders by the weighted average number of equity shares
outstanding during the year. The weighted average number of equity shares
outstanding during the year is adjusted for events such as bonus issue, bonus
element in a rights issue, share split and reverse share splits (consolidation of
shares) that have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating diluted
earnings per share, the net profit or loss (excluding other comprehensive income
/ (loss)) for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year are adjusted for the
effects of all dilutive potential equity shares.

19. Operating Cycle

Based on the nature of products / activities of the Company and the normal time
between acquisition of assets and their realization in cash or cash equivalents,
the Company has determined its operating cycle as 12 months for the purpose
of classification of its assets and liabilities as current and non-current.

20. Contributed equity

Equity shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from the proceeds.

21. Exceptional items

When items of income and expense within standalone statement of profit and
loss from ordinary activities are of such size, nature or incidence that their
disclosure is relevant to explain the performance of the enterprise for the year,
the nature and amount of such material items are disclosed separately as
exceptional items.

Critical estimates and judgements

The preparation of standalone financial statements in conformity with Ind
AS requires estimates and assumptions to be made by the management of
the Company that affect the reported amounts of assets and liabilities on the
date of the financial statements and the reported amounts of revenues and
expenses during the reporting period.

The Management believes that these estimates are prudent and reasonable
and are based upon the Management''s best knowledge of current events and
actions. Actual results could differ from these estimates and differences
between actual results and estimates are recognized in the year in which the
results are known or materialized.

This note provides an overview of the areas that involved a higher degree of
judgment or complexity, and items which are more likely to be materially
adjusted due to estimates and assumptions turning out to be different than
those originally assessed.

(i) Estimated useful life of property, plant and equipment, intangible
assets, and investment property:

The Company reviews the useful lives of property, plant and equipment,
Investment properties and intangible assets at the end of each reporting
period. This reassessment may result in change in depreciation and
amortization expense in future periods.

(ii) Impairment of carrying value of property, plant and equipment,
capital work-in-progress, intangible assets and investment
property:

The recoverable amount of property plant and equipment, capital work-
in-progress is based on estimates and assumptions regarding the
expected Depreciated Replacement Cost (DRC) method under Cost
Approach. Any changes in these assumptions may have a material impact
on the measurement of the recoverable amount and could result in
impairment. Fair value less cost to sell for assets classified as held for
sale:

The fair valuation of the investment property is determined using ''Sales
Comparison Method'' under Market Approach using composite rate of
commercial offices by comparing the investment property with similar
properties that have recently been sold near the location of investment
property. Comparable properties are selected for similarity to the subject
property by considering attributes like age, size, shape, quality of
construction, building features, condition, design, etc.

(iii) Estimation of current tax expenses and recognition of deferred tax
assets:

The Company calculates income tax expense based on reported income and
estimated exemptions / deduction likely available to the Company.
Recognition of deferred tax assets depends upon the availability of future
profits against which tax losses carried forward can be used.

(iv) Probable outcome of matters included under contingent liabilities:

Management has estimated the possible outflow of resources at the end of
each annual reporting financial year, if any, in respect of contingencies/
litigations against the Company as it is not possible to predict the outcome
of pending matters with accuracy.

(v) Provision for doubtful debts:

Trade receivables do not carry any interest and are stated at their nominal
value as reduced by appropriate allowances for estimated irrecoverable
amounts. Under Ind AS, impairment allowance has been determined
based on Expected Credit Loss (ECL) model. Estimated irrecoverable
amounts are based on the ageing of the receivable balance and historical
experience. Individual trade receivables are written off if the same are not
collectible.

24. Foreign Exchange Earnings & Outgo :

Total Foreign Exchange used

-For Import Purchase of Raw Materials or Finished Goods - Rs. 9,06,69,913/-

-For Expenses - Rs. 79,09,643/-

Total Foreign Exchange Earned

-For Export Sale of Raw Materials or Finished Goods - Rs. 44,56,87,838/-

25. The Company does not have any Benami property, where any proceeding has
been initiated or pending against the Company for holding any Benami property.

26. The Company does not have any transactions with companies struck off by
Registrar of Companies (ROC).

27. The Company does not have any charges or satisfaction which is yet to be
registered with ROC beyond the statutory period.

28. The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year.

29. The Company does not have any such transaction which is not recorded in the
books of accounts that has been surrendered or disclosed as income during the
year in the tax assessments under the Income Tax Act, 1961 (such as, search or
survey or any other relevant provisions of the Income Tax Act, 1961).

30. No funds have been advanced or loaned or invested by the Company to or in any
person(s) or entity(ies), including foreign entities (''the intermediaries''), with the
understanding, whether recorded in writing or otherwise, that the intermediary
shall, whether, directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Company (''the
Ultimate Beneficiaries'') or provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries.

31. No funds have been received by the Company from any person(s) or entity(ies),
including foreign entities (''the Funding Parties''), with the understanding, whether
recorded in writing or otherwise, that the Company shall, whether directly or
indirectly, lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (''Ultimate Beneficiaries'') or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

---

Mar 31, 2015

1 Corporate information:

Specular Marketing & Financing Limited (the Company) is a public company domiciled in India and has its registered office at Mumbai, Maharashtra, India. The Company is established with the object of carrying on the business of marketing, financing and investments activities.

The Company has its primary listings on BSE Limited in India.

Note 2

The Directors have waived the sitting fees for meetings attended by them during the year.

Note 3

Based on the information available with the Company, there are no suppliers who are registered as micro or small enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at 31st March, 2015.

Notes to Statement of Profit or Loss

Note 4

Segment Reporting

On applying the definition under 'Accounting Standard 17' for business segment and geographical segment; the Company has not identified more than one 'business segment' or 'geographical segment'.

Note 5

Trade Receivables:

In the opinion of the Board of Directors, the Current Assets, Loans and Advances pe of the value stated, if realised in the ordinary course of business of the Company except for the Trade Receivables of Rs. 50,37,030/- (L/Y Rs. 50,57,332/-) in the Commodity Market Arbitrage with NSEL through Broking Firm - Motilal Oswal Commodity Brokers Pvt. Ltd. This entire amount represents the principal amount receivable and is shown as Trade Receivable remaining outstanding for a period of more than six months.. As known to the Company and in the opinion of the Directors, some fraud has taken place with NSEL and the entire amount has turned out as a stagnant amount having no yield and / or recovery of principal amount in any form. The recovery of the principal amount is coming in parts having very small values. The Company has been trying through the said Broking firm to recover the entire amount from the NSEL. However, in view of the available information on the said fraud, the Company is of the opinion that the entire amount may not be recovered and accordingly, Provision for Doubtful Debts to the extent of Rs. 2,52,000/- (L/Y Rs. 2,53,000/-) of the total amount is made in the current year. The recovery process is being followed up with the broking firm. It is expected that the entire amount shall be recovered within a short period. The provisions for all other known liabilities except as mentioned above are adequate and are not in excess of what is reasonably necessary.

Note 6

The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.

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Mar 31, 2014

1 Corporate information:

Specular Marketing & Financing Limited (the Company) is a public company domicilied in India and incorporated under the provisions of the Companies Act, 1956. The Company is established with the object of carrying on the business of marketing, financing and investments activities.

2 Basis of preparation of accounts:

The Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in India, mandatory accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956 read with general circular 15/2013 dated September 13, 2013, issued by the Ministry of Corporate Affairs, in respect of Section 133 of the Corn ponies Act, 2013. The Financial Statements have been prepared under the historical cost convention on an accrual basis, except in case of assets for which provision for impairment is made which have been measured at fair value. The accounting policies applied by the Company are consistent with those used in the previous year.

All the assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in Revised Schedule VI the Companies Act, 1956. Based on the nature of business of the Company, the Company has ascertained its operating cycle as twelve months for the purpose of cu rent/non-current classification of assets and liabilities.

Note 3

The Directors have waived the sitting fees for meetings attended by them during the year.

Note 4

Based on the information available with the Company, there are no suppliers who are registered as micro or small enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at 31st March, 2014.

Note 5

Segment Reporting

On applying the definition under ''Accounting Standard 17'' for business segment and geographical segment; the Company has not identified more than one ''business segment'' or ''geographical segment''.

Note 6

Trade Receivables:

In the opinion of the Board of Directors, the Current Assets, Loans and Advances are of the value stated, if realised in the ordinary course of business of the Company except for the Trade Receivables of Rs. 50, 57,332/- in the Commodity Market Arbitrage with NSEL through Broking Firm - Motilal Oswal Commodity Brokers Pvt. Ltd. This entire amount represents the principal amount receivable and is shown as Trade Receivable remaining outstanding for a period of more than six months. As known to the Company and in the opinion of the Directors, some fraud has taken place with NSEL and the entire amount has turned out as a stagnant amount having no yield and / or recovery of principal amount in any form. The recovery of the principal amount is coming in parts having very small values. The Company has been trying through the said Broking firm to recover the entire amount from the NSEL. However, in view of the available information on the said fraud, the Company is of the opinion that the entire amount may not be recovered and accordingly, Provision for Doubtful Debts to the extent of 5 % of the total amount is made in the current year. The recovery process is being followed up with the broking firm. It is expected that the entire amount shall be recovered within a short period. The provisions for all other known liabilities except as mentioned above are adequate and are not in excess of what is reasonably necessary.

Note 7

The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.

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Mar 31, 2013

1 Corporate information:

Specular Marketing & Financing Limited (the Company) is a public company domicilied in India and incorporated under the provisions of the Companies Act, 1956. The Company is established with the object of carrying on the business of marketing, financing and investments activities.

Note 2

Segment Reporting

On applying the definition under ''Accounting Standard 17'' for business segment and geographical segment; the Company has not identified more than one ''business segment'' or ''geographical segment''.

Note 3

In the opinion of the Board of Directors, the Current Assets, Loans and Advances are of the value stated, if realised in the ordinary course of business of the Company. The provisions for all known liabilities are adequate and are not in excess of what is reasonably necessary.

Note 4

The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.