అకౌంట్స్ గమనికలుSarda Proteins Ltd.

L. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

A provision is recognized if, as a result of a past event, the Company has a present legal
obligation that is reasonably estimable and it is probable that an outflow of economic
benefits will be required to settle the obligation. Provisions are determined by the best
estimate of the outflow of economic benefits required to settle the obligation at the
reporting date. Where no reliable estimate can be made, a disclosure is made as
contingent liability. A disclosure for a contingent liability is also made when there is a
possible obligation or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present obligation in
respect of which the likelihood of outflow of resources is remote, no provision or
disclosure is made.

M. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the
period attributable to equity shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects of all dilutive potential equity
shares.

N. SEGMENT POLICIES

The Company’s reporting segments are identified based on activities/products, risk and
reward structure, organization structure and internal reporting systems.

O. INVESTMENTS

Investments intended to be held for more than a year are classified as long term
investments. All other investments are classified as current investments. Current
investments are stated at lower of cost and market/fair value. Long term investments are
stated at cost. Decline in value of long term investments is recognized, if considered
other than temporary.

P. BORROWING COSTS

Borrowing costs directly attributable to the acquisition, construction or production of an
asset that necessarily takes a substantial period of time to get ready for its intended use or
sale are capitalized as part of the cost of the respective asset. All other borrowing costs
are expensed in the period they occur. Borrowing costs consist of interest and other costs
that an entity incurs in connection with the borrowing of funds.

Q. CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit before tax is adjusted
for the effects of transactions of a non-cash nature, any deferrals or accruals of past or
future operating cash receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

General:

There has been a significant change in the Management of the Company. The Board of
Directors changed during the year along with the CFO and CS of the company. Also the
company’s business objective is to now deal in new segment of "Renewable Energy Sector
Solar Cell Products". Further, the Authorised Share Capital of the company increased from
Rs. 5 cr to Rs. 13 cr. The above changes have been duly updated on the MCA Portal.

22. Contingent Liability not provided for: Rs. Nil (Previous Year Rs. Nil)

23. In the opinion of the management the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in the Balance Sheet and
the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances
available to the company under the provisions of Income Tax Act, 1961.

24. During the year Company has not done any speculative trading in commodity (Mustard
Seed & Oil) at MCX/NCDEX stock exchanges.

25. As per Indian Accounting Standard, Ind AS-19 “Employees Benefits” the disclosure of
employee benefits as defined in Accounting Standard are given below.

Defined Benefit Plan

The employees’ gratuity fund scheme is a defined benefit plan. The present value of
obligation is determined based on actuarial valuation using the projected unit credit
method, which recognizes each period of service as giving rise to additional unit of
employees benefit entitlement and measures each unit separately to build up the final
obligation.

26. In accordance with guiding principles as enunciated in Accounting Standards, Ind AS-108
Segment Reporting, the company has only one segment i.e. "Renewable Energy Sector
Solar Cell Products". Therefore, the disclosure requirements of the Standard are not
applicable.

27. Related Party Disclosures as required by Accounting Standards, IND AS-24:

31. Previous year figures have been regrouped / rearranged wherever considered necessary to
make them comparable with current year’s figures.

As per our report of even date attached

For and on behalf of Board

For S K Agarwal & Associates

Chartered Accountants Sarda Proteins Ltd

FRN: 014841C CIN: L15142RJ1991PLC006353

CA Sushil Kumar Agarwal

Khilan Hareshbhai

Chirag Shantilal Thumar „

Partner Savahya

M. No.: 403073 Managing Director Director

DIN: 10640822 DIN: 08790209

Yagnik Arvind bhai

Satasiya

Namrata Karwa Chief Financial

Company Secretary Officer

Date : 15.05.2025 M. No.: A58021 PAN: FXEPS6851M

Place : Rajkot

UDIN : 25403073BMJOFF5582

L. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

A provision is recognized if, as a result of a past event, the Company has a present legal
obligation that is reasonably estimable and it is probable that an outflow of economic
benefits will be required to settle the obligation. Provisions are determined by the best
estimate of the outflow of economic benefits required to settle the obligation at the
reporting date. Where no reliable estimate can be made, a disclosure is made as
contingent liability. A disclosure for a contingent liability is also made when there is a
possible obligation or a present obligation that may, but probably will not, require an
out flow of resources. Where there is a possible obligation or a present obligation in
respect of which the likelihood of outflow of resources is remote, no provision or
disclosure is made.

M. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the
period attributable to equity shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects of all dilutive potential equity
shares.

N. SEGMENT POLICIES

The Company’s reporting segments are identified based on activities/products, risk and
reward structure, organization structure and internal reporting systems.

O. INVESTMENTS

Investments intended to be held for more than a year are classified as long term
investments. All other investments are classified as current investments. Current
investments are stated at lower of cost and market/fair value. Long term investments are
stated at cost. Decline in value of long term investments is recognized, if considered
other than temporary.

P. BORROWING COSTS

Borrowing costs directly attributable to the acquisition, construction or production of an
asset that necessarily takes a substantial period of time to get ready for its intended use or
sale are capitalized as part of the cost of the respective asset. All other borrowing costs
are expensed in the period they occur. Borrowing costs consist of interest and other costs
that an entity incurs in connection with the borrowing of funds.

Q. CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit before tax is adjusted
for the effects of transactions of a non-cash nature, any deferrals or accruals of past or
future operating cash receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

18. Contingent Liability not provided for: Rs. Nil (Previous Year Rs. Nil)

19. In the opinion of the management the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in the Balance Sheet and
the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances
available to the company under the provisions of Income Tax Act, 1961.

20. During the year Company has not done any speculative trading in commodity (Mustard
Seed & Oil) at MCX/NCDEX stock exchanges.

21. As per Indian Accounting Standard, Ind AS-19 “Employees Benefits” the disclosure of
employee benefits as defined in Accounting Standard are given below.

Defined Benefit Plan

The employees’ gratuity fund scheme is a defined benefit plan. The present value of
obligation is determined based on actuarial valuation using the projected unit credit
method, which recognizes each period of service as giving rise to additional unit of
employees benefit entitlement and measures each unit separately to build up the final
obligation.

27. Investment in NSC of Rs. 13,000 is written off during the Financial Year 2023-24 since
proper documents are not available with the company.

28. Previous year figures have been regrouped / rearranged wherever considered necessary to
make them comparable with current year’s figures.

As per our report of even date attached

For S K Agarwal &Associates For and on behalf of Board

Chartered Accountants Sarda Proteins Ltd

FRN: 014841C CIN:L15142RJ1991PLC006353

Ekta Kapoor

Partner Deepak Data Vanita Bhanot

M. No. 550801 Managing Director Director

DIN: 01672415 DIN: 08189799

Amit Kumar Modi Shipra Gandhi

Company Secretary Chief Financial

M. No.: A29371 Officer

Date : 30-04-2024 PAN: AUNPG0520E

Place : Jaipur

UDIN : 24550801BKEELM9699

1. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation or reconciliation.

2. During the year Company has done speculative trading in commodity (Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss of Rs.70,627.13 ( Previous Year Net Loss of Rs. 1,93,237.00 )on such trading.

3. As per Accounting Standard (AS)-15 "Employees Benefits" the disclosure of employee benefits as defined in Accounting Standard are given below.

Defined Contribution Plan

Defined Benefit Plan

The employees' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the projected unit credit method, which recognizes each period of service as giving rise to additional unit of employees benefit entitlement and measures each unit separately to build up the final obligation.

4. Contingent Liability not provided for: Rs. Nil (Previous Year Rs. Nil)

5. In the opinion of the management the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet and the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances available to the company under the provisions of Income Tax Act, 1961.

6. In accordance with guiding principles as enunciated in Accounting Standards AS-17 Segment Reporting, the company has only one segment of oil business. Therefore, the disclosure requirements of the Standard are not applicable.

7. Related party disclosures as required by Accounting Standards AS-18

a. Key Management personnel and their relatives: Mr. D.P. Sarda ( NIL Transaction)

Mr. S. Sarda

Mr. C. S.Sarda ( NIL Transaction)

Mr. M. S. Somani ( NIL Transaction)

Remuneration to Directors- Mr. S. Sarda is Rs. 8,74,800 /-(Previous Year Rs. 8,74,800/-)

Payable at year end ( M r. S. Sarda) is Rs. Nil (Previous Year Rs.2,76,861.22).

b. Enterprises in which key management personal and their relatives are able to exercise significant influence:

Sarda Agro Products Private Limited ( NIL Transaction)

Sarda OilIndustries (P) Limited ( NIL Transaction)

Aura Infracons (P) Ltd. ( NIL Transaction)

Shri Ram Surendra Kumar ( NIL Transaction)

8. The Shares of the Aura Infracons (P) Ltd. Has been sold at price less than the purchase price. 114500 shares that was purchased at Rs.60/- per share has been sold at Rs.35 per share incurred a loss of Rs. 28,62,500.00. Total sales consideration is Rs.4007500/-

9. Company has sold its major part of assets during the year due to which company books is showing profit in statement of profit and loss, otherwise company is in loss.

10. Company has not fulfilled all the listing requirements of BSE.

11. Company has sold Substantial part of Fixed Assets during the financial year 2014-15 under which land has been sold at Rs.100,00,000/- generating profits of Rs.8838355/-, Building has been sold at Rs.40,00,000/- generating profit of Rs.23,93,189.99 and Plant & Machinery has been sold at Rs.6,00,000/- in which company has incurred a loss of Rs.5,06,107.32/-.

12. Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with current year's figures.

1. Contingent Liability not provided for: Rs. Nil (Previous Year Rs. Nil)

2. In the opinion of the management the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet and the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances available to the company under the provisions of Income Tax Act, 1961.

3. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation or reconciliation.

4. During the year Company has done speculative trading in commodity (Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss of Rs.193,237 (Previous Year Net Loss of Rs. 19,90,825) on such trading.

5. As per Accounting Standard (AS)-15 "Employees Benefits" the disclosure of employee benefits as defined in Accounting Standard are given below.

Defined Benefit Plan

The employees'' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the projected unit credit method, which recognizes each period of service as giving rise to additional unit of employees benefit entitlement and measures each unit separately to build up the final obligation.

6. In accordance with guiding principles as enunciated in Accounting Standards AS-17 Segment Reporting, the company has only one segment of oil business. Therefore, the disclosure requirements of the Standard are not applicable.

7. Related party disclosures as required by Accounting Standards AS-18

a. Key Management personnel and their relatives:

Mr. D.P. Sarda

Mr. S. Sarda

Mr. C.S. Sarda

Mr. M. S. Somani

Remuneration to Directors- Mr. D.P. Sarda is Rs. Nil (Previous Year Rs. 6,16,000/-) Mr. S. Sarda is Rs. 8,74,800 /-(Previous Year Rs. 8,42,400/-)

Payable at year end ( Mr. S. Sarda) is Rs. 2,76,861.22/- (Previous Year Rs.1,378.53).

b. Enterprises in which key management personal and their relatives are able to exercise significant influence:

Sarda Agro Products Private Limited Sarda Oil Industries (P) Limited Aura Infracons (P) Ltd. Shri Ram Surendra Kumar Investment in above enterprises

i) Investment in Equity Shares Rs. 68,70,000.00 (Previous Year Rs. 68,70,000).

8. The book value of Aura Infracons (P) Ltd. is below the purchase/subscription price of investment made by the company. Considering the long term strategic nature of investment diminution in value has been considered temporary and hence no provision has been made.

9. Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with current year''s figures.

1. Contingent Liability not provided for: Rs. Nil (Previous Year Rs. Nil)

2. In the opinion of the management the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet and the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances available to the company under the provisions of Income Tax Act, 1961.

3. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation or reconciliation.

4. During the year Company has done speculative trading in commodity (Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss of Rs. 19,90,825 (Previous Year Net Profit of Rs. 26,65,071) on such trading. There is a single open contract standing as on 31st March 2013 (450 tons of Mustard Seed) which was squared off on 101" April''2013.

5. As per Accounting Standard (AS)-15 "Employees Benefits" the disclosure of employee benefits as defined in Accounting Standard are given below.

Defined Contribution Plan

6. In accordance with guiding principles as enunciated in Accounting Standards AS-17 Segment Reporting, the company as only one segment of oil business. Therefore, the disclosure requirements of the Standard are not applicable.

7. Related party disclosures as required by Accounting Standards AS-18 a. Key Management personnel and their relatives:

Mr. D.P. Sarda Mr. S. Sarda Mr. C.S. Sarda Mr. M.S. Somani

Remuneration to Directors- Mr. DP. Sarda is Rs. 6,16,000/- (Previous Year Rs. 6,60,000/-) Mr. S. Sarda is Rs. 8,42,400/- (Previous Year Rs. 6,90,000/-)

Payable at year end (Mr. S. Sarda) is Rs. 1,378.53/- (Previous Year Rs. Nil).

b. Enterprises in which key management personal and their relatives are able to exercise significant influence:

Sarda Agra Products Private Limited Sarda Oil Industries (P) Limited Sarda Industrial Corporation Aura Infracons (P) Ltd. Shri Ram Surendra Kumar

Investment in above enterprises i) Investment in Equity Shares Rs. 68,70,000.00 (Previous Year Rs. 68,70,000).

8. The book value of Aura Infracons (P) Ltd. is below the purchase / subscription price of investment made by the company. Considering the long term strategic nature of investment diminution in value has been considered temporary and hence no provision has been made.

9. Privious year figures have been regrouped / rearranged wherever considered necessary to make them comparable with current year''s figures.

(i) Terms / Right attached to Equity Shares

The Company has only one class of Equity Shares having a face value of Rs.10 Per share. Each Ordinary Shareholder is entitled to one vote per share. No dividend is proposed by the Board of Directors in the Annual General Meeting.

In the event of winding-up of the company, the equity shareholders shall be entitled to be repaid remaining assets of the company, in the ratio of the amount of capital paid up on sudh equity shares.

1. Contingent Liability not provided for Rs. NS (Previous Year Rs. Nil)

2. In the opinion of the management the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet and the provision for all known liabilities has been made.

i. Provision for Income Tax has been made considering various benefits and allowances available to the company under the provisions of Income Tax Act, 1961.

3. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation or reconciliation.

4. During the year Company has done speculative trading in commodity (Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net profit of Rs. 26,65,071 on such trading. There is no outstanding contract as on 31* March 2012.

Defined Benefit Plan

The employees' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the projected unit credit method, which recognizes each period of service as giving rise to additional unit of employees benefit entitlement and measures each unit separately to build up the final obligation.

5. In accordance with guiding principles as enunciated in Accounting Standards AS-17 Segment Reporting, the company has only one segment of oil business. Therefore, the disclosure requirements of the Standard are not applicable.

6. Related party disclosures as required by Accounting Standards AS-18

a. Key Management personnel and their relatives:

Mr. D.P. Sarda

Mr. S. Sarda Mr. C.S. Sarda Mr. M. S. Somani

Remuneration to Directors-

Mr. D.P. Sarda is Rs. 6,60,000/- (Previous Year Rs. 6,35,000/-)

Mr. S. Sarda is Rs. 6,90,000/- (Previous Year Rs. 6,00,000/-)

Payable at year end is Rs. Nil (Previous Year Rs. 1,66,882/-).

b. Enterprises in which key management personal and their relatives are able to exercise significant influence:

Sarda Agro Products Private Limited

Sarda Oil Industries (P) Limited

Sarda Industrial Corporation

Aura Infracons (P) Ltd.

Shri Ram Surendra Kumar

Investment in above enterprises

i) Investment in Equity Shares Rs. 68,70,000.00 (Previous Year Rs. 68,70,000).

ii) Share Application Money pending allotment is NIL (Previous year Rs. 42,00,000).

7. The book value of Aura Infracons (P) Ltd. is below the purchase / subscription price of investment made by the company. Considering the long term strategic nature of investment diminution in value has been considered temporary and hence no provision has been made.

8. PRESENTATION AND DISCLOSURE OF FINANCIAL STATEMENTS

During the year ended March 31, 2012, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements. The Company has also reclassified the figures in accordance with the requirements applicable in the current year.

1. Contingent Liability not provide for: Nil (Previous Year-Nil)

2. In the opinion of the management the current asset, loans and advances have a value on realization at least equal to the amount at which they are stated in the balance sheet and the provisions for all known liabilities has been made

3. a. Provision for income tax has been made considering various benefits and allowances available to the company under the provisions of Income Tax Act, 1961.

4. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation and / or recoreilation

5. During the year company has done speculative trading in commodity (Mustard Seed & Oil) at MCX / NCDEX exchanges. There is a net loss of Rs. 460828.00 on such trading. There is no outstanding balance against this trading in both the exchanges.

6. As per Accounting Standards (AS)-15 "Employees Benefit", (revised) the disclosure of employees benefits as defined in Accounting Standard are given below

Note : Actuarial valuation for the year ended 31st March 2007 and prior to date was not done.

7. In accordance with guiding principles as enunciated Accounting Standards AS-17 segment reporting issued by Institute of Chartered Accountants of India, the company has only one segment of Oil Business. Therefore, the disclosure requirements of the Standard are not applicable.

8 Related party disclosures as required by Accounting Standards AS-18

A. Key management personal and their relatives

Mr. DP. Sarda

Mr. S. Sarda

Mr. C. S. Sarda

Mr. M.S. Somani

Remuneration Rs.945000.00 (Previous Year Rs. 775000.00)

Payable at year end Rs. NIL (Previeous year Rs. 70642.57)

B. Enterprises in which key management personal and their relatives are able to exercise significant influences:

Sarda Agro Products (P) Ltd.

Sarda Oil Industries (P) Ltd.

Sarda Industrial Corporation

Aura Infracons (P) Ltd.

Shree Ram Surendra Kumar

Investment in above enterprises

i) Investment in Equity share Rs. 6870000.00 (Previous year Rs. 6870000.00)

ii) Share application money (pending allotment) Rs. 4200000.00 (Previous year Rs. 4200000.00)

9. The book value of Aura Infracons (P) Ltd. is below the purchase/subscription price of investment made by the company. Considering long tern strategic nature of investment dinnunition in value has been considered temporary and hence no provision has been made.

1. Contingent Liability not provide for: Nil (Previous Year-Nil)

2. In the opinion of the management the current asset, loans and advances have a value on realization at least equal to the amount at which they are stated in the balance sheet and the provisions for all known liabilities sas been made

3. a. Provision for income tax has been made considering various benefits and allowances available to the company under. the provisions of Income Tax Act, 1961.

4. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation and / or recoreilation

5. In accordance with guiding principles as enunciated Accounting Standards AS-17 segment reporting issued by Institute of Chartered Accountants of India, the company has only one segment of Food. Hence no reporting is required.

6. Related party disclosures as required by Accounting Standards AS-18

A. Key management personal and their relatives

Mr. D.P. Sarda

Mr. C. S. Sarda

Mr. S. Sarda

Mr. M.S. Somani

Remuneration Rs.775000.00 (Previous Year Rs. 545000.00)

Payable at year end Rs. 70642.57 (Previeous year Rs. 3646.82)

B. Enterprises in which key management personal and their relatives are able to exercise significant influences:

Sarda Agro Products (P) Ltd.

Sarda Oil Industries (P) Ltd.

Sarda Industrial Corporation

Aura Infracons (P) Ltd.

Investment in above enterprises

i) Investment in Equity share Rs. 6870000.00 (Previous year Rs. 6870000.00)

ii) Share application money (pending allotment) Rs. 4200000.00 (Previous year Rs. 4200000.00)

7. The book value of Aura Infracons (P) Ltd. is below the purchase/subscription price of investment made by the company. Considering long tern strategic nature of investment dinnunition in value has been considered temporary and hence no provision has been made.

1. Contingent liabilities not provided for in respect of As at 31.03.04 As at 31.03.03 estimated amount of contract and remaining to be executed on capital account and not provided for (Net of Advance) Nil Rs.10500000/-

2. In the opinion of the management the current assets, loans and advances have a value on realisation at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities has been made.

3. a. No provision for current income tax has been made in the absence of taxable income.

4. Balance in Sundry Debtors and Sundry Creditors are subject to confirmation.

5. Sundry creditors include Rs. 336882.42 (previous year Rs. 545743.97) payable to Small Scale Industrial undertakings. However small scale undertaking to whom the company owes a sum remaining outstanding for more than 30 days are none.

6. In accordance with guiding principals as enunciated in Accounting Standard AS-17 segment reporting issued by institute of Chartered Accountants on India the company has only one segment of food. Hence no reporting is required.

7. Related party disclosures as required by Accounting Standard AS-18

A Key management personal and their relatives

Mr. D.P. Sarda

Mr.C.S.Sarda

Key management personal and their relatives Remuneration Rs. 10,22,975/=

B. Enterprises in which key management personal and their relatives are able to exercise significant influences

Sarda Agro Products (P) Ltd.

Sarda Oil Industries (P) Limited

Sarda Industrial Corporation

8. Previous year figures have been regrouped wherever considered necessary.

1. Contingent liabilities not provided for in respect of

As at 31.03.03 As at 31.03.02

a. Estimated amount of contract and remaining to be executed on capital account and not provided for (Net of Advance) Rs. 10500000/- Rs. 10500000/-

b. Sales Tax Demand under dispute Rs. Nil Rs. 427211/-

2. In the opinion of the management and to the best of their knowledge and belief, the value on realisation of Loans and Advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. Balances in Sundry Debtors and Sundry Creditors are subject to confirmation.

4. Sundry creditors include Rs. 545.743.97 (Previous year Rs. 540499.58) payable to Small Scale Industrial undertakings. However Small Scale Undertakings to whom the company owes a sum remaining outstanding for more than 30 days are Krishna Kolhu Udyog, Century Steel Industries, Rajdhani Udyog.

5. In accordance with guiding principals as enunciated in Accounting Standard AS-17 segment reporting issued by Institute of Chartered Accountants of India the company has only one segment of food. Hence reporting the information as required by the accounting standard are not applicable.

6. Related party disclosures as required by Accounting Standard AS-18

A Key management personal and their relatives

Mr. D.P. Sarda Mr. C. S. Sarda

B. Enterprises in which Key Management Personal and their relatives are able to exercise significant influences :

Sarda Oil Industries Private Limited

Sarda Agro Products Private Limited

Sarda Industrial Corporation

There are no transactions and no outstanding with / from the parties listed above.

7. Previous year figures have been regrouped wherever considered necessary.

1. Contingent liabilities not provided for in respect of As at 31.03.2002 As at 31.03.2001

a. Estimated amount of contract and remaining to be executed on capital account and not provided for (Net of Advance) Rs.10500000/- Rs.10500000/-

b. Sales Tax Demand under dispute Rs. 427211/- Rs. 427211/-

2. In the opinion of the management and to the best of their knowledge and belief, the value on realisation of Loans and Advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. a. No provision for current income tax has been made in the absence of taxable income.

4. Balances in Sundry Debtors and Sundry Creditors are subject to confirmation.

5. Sundry creditors include Rs. 201546.16 (Previous year Rs. 119865.43) payable to Small Scale Industrial undertakings. However Small Scale Undertakings to whom the company owes a sum remaining outstand ing for more than 30 days are Haryana Tin Manufacturers, Jagdish Chandra Garg & Enterprises (P) Ltd., Metallic Signs Company, Krishna Kolhu Udyog, P Roy Expeller Works.

6. Related party disclosures as required by Accounting Standard AS-18

A. Key management personal and their relatives

Mr. D.P. Sarda

Mr. C.S. Sarda

Key management Personal and their relatives Remuneration Rs.8,03,600/=

B. Enterprises in which Key Management Personal and their relatives are able to exercise significant influences :

Sarda Oil Industries Private Limited

Sarda Agro Products Private Limited

Sarda Industrial Corporation

There are no transactions and no outstanding with / from the parties listed above.

7. Previous year figures have been regrouped wherever considered necessary.