2.11 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions are recognized in the accounts, when there is a present obligation as a result of past event(s) and
when a reliable estimate of the amount of obligation can be made at the reporting date. These estimates are
reviewed at each reporting date and adjusted to reflect the current best estimate. Provisions are discounted
to their present values, where the time value of money is material.

Contingent liabilities are disclosed unless the possibility of outflow of resources is remote. Contingent
Assets are neither recognized nor disclosed in the financial statements.

2.12 DIVIDEND TO EQUITY HOLDER OF THE COMPANY

The Company recognizes a liability to make dividend distributions to equity holders of the Company when
the distribution is authorized and the distribution is no longer at the discretion of the Company. As per the
corporate laws in India a distribution is authorized when it is approved by the shareholders. However,
Board of Directors of a Company has not declared/approved any dividend during the o^^Tmtjer
consideration.

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2.13 EARNING/(LOSS) PER SHARE

Basic earnings/(Loss) per share are calculated by dividing the net profit/ (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 are adjusted for events of bonus
issue to existing shareholders; share split; and reverse share split (consolidation of shares), if any.

For the purpose of calculating diluted eamings/(loss) per share, the net profit (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 diluted potential equity shares.

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27. Share Capital

i.) Authorised Share Capital: The Authorised Share Capital of the Company as on March 31, 2024 is
Rs.4.00.00.000/- divided into 40,00,000 Equity Shares of Rs. 10/- each.

ii) The company is a public limited company and is listed on SME Platform of National Stock
Exchange of India Ltd. (NSE EMERGE).

37. The company has been sanctioned working capital limits in excess of five
crores in aggregate from banks and/or financial institutions on the basis of security
of current assets and the quarterly returns and monthly statements filed by the
company with such banks or financial institutions are in agreement with the books
of account of the company. v.

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38. Information based on Annual Tax Statement in form 26AS; AIS and TIS have
been taken into books of accounts.

39. Deferred tax has been provided in accordance with Accounting Standard 22 on
Accounting for taxes on Income issued by the ICAI.

40. Previous year’s figures have been re-arranged and/ or re-grouped wherever
considered necessary and practicable to make them comparable with current year’s
figures.

Signatures to Notes ’1’ to '40⁵:

Auditor’s Report For and on behalf of the Board of Directors of

As per our report of even Quality Foils (India) Limited

date attached.

FOR V S JAIN & ASSOCIATES JEJAS'Vl BHARGAVA KULDIP BHARGA\4l
Chartered Accountants (Managing Director) (Chairman & Director)

(Firm's registration no. 003533N),___(DIN: 0001 1205) (DIN: 00011103)

(CA SANDEEP KUMAR JAR^^^V Ms MEENAKSHI BIRDHIGE|AND JAIN
Partner ^ (Company Secretary) (Chief Financial Officer)

(M.NO.: 5! 1237)

UDIN: 24511237BKFOON8472
Place: Hisar
Dated: May 22, 2024