Chartcrcd Accoutlhnts

506" Oayatri Charrbcr' it C I)utt Road' Vlrriodala- 1900{il

INDEPENDENT AUDITORS' REPORT

TO THE SHARE HOLDERS'

ADVANCESYNTEXLIMITED(EarlierKnownAsAdvancesyntexPvt.Ltd.)

REPORT ON THE I''INACIAL STATEMENTS

we have audited the uccompanyrng financial statements of Advance Syntex Ltd. ('the company''XEarlier it was Advance

Syntex private Limit. l) which ."riprir.- irt" Balance Sheet as.at Marcl 3lst, 2017, the Profit and Loss statement for the

period ended on 31st N.{arch,20l7, daSh Flow for the period end on 31st M arch,2ol't and other explanatory information'

MANAGEMENT'S ;{ESPONSTBILITY FOR THE FINANCIAL STATEMENTS

The company,s Boaru 0i directors is responsible for the matters stated in section 134(5) of the companies Act' 2013 ("the

Acf,)withrespecttollrepleparationofthesefinancialstatementsthatgivetrue&fairviewofthefinancialposition,financial

performance of the (,o.rpany ,n--u".o.dun.. with the accounting "principtes

generally accepted in-lndia including the

accounting standards ,,ne.irr"o una"i rection 1:3 of the Act, read with rule i ofthe companies (Accounts) Rules' 2014' This

responsibilityalsoiucludesmaintenanceofadequateaccountingrecordsinaccordancewithprovisionsoftheActfol

safeguarding the ass*; "f

th" c;;;;;; and for preuenting and detecting frauds and other inegularities; selection and

application of approp,'iite accounring poiicies; making julct"nt: und estim;tes that are reasonable and prudent; and design'

implementation ancl ,.,.rrnrenanoe.;?""a.q""t i"t.-.i frnancial tontrols, that were operating effective for ensuring the

accuracy and complei..rcss of the u""o*ri"g ,""ora., relevant to the preparation and presentation of the financial statements

that give a tue and fai| view and are ftee flom material misstatement' whether due to fraud or enor'

AUDITORS' RESP( }'iSIBILITY

Our responsibility is rir cxpress an opinion on these financial statements based on our audit'

we have taken into a.'ount the provision of the Act, the accounting and auditing standards and matter which are required to

be included in the auu " tpo" undtt ihe provisions ofthe Act ancl the Rules made there-under'

Weconducterlowal:'jjtinaccordancewiththestanclardsonaurlitingspecifredunder.::j':l|1]l]o)oftheAct.Thosestandards required,,,,,, ,r"

"o-O,iii,i "r'f""i *0""".i"1, aod ptun-uni perform the audit to obtain reasonable assuance

uioo, *f,"rtto rna nrrr'' 'ial

statements are fiee from material misstatements'

Anauditinvolvesp|.li)Imingprocedurestoobtainaudittvidenceabouttheamountsanddisclosuresinthefinancial

shtements. The proc..iLrr.es ..#;;;;i-"; the auditor's juag..nt, including the assessment of the risks of material

misstatement of the t, ,.iur ,toi*intr,'whether clue to fraud or enor. In making Gse risk assessments' the auditor considers

intemal furancial "o,,,

,r ,"r"uur,liio in" co.o-r'. pfepamtion of the financial statement that give a true and fair.view in

order to design audi, , ,,."du.r, ,r,ui *. app.opriut. in the circu.stances, but not for the purpose of expressing an oplnron on

whether the compa.., iL.rs t oi"i" "" "JJor"i. intemal financial .onnoi, .y,ttt over financial reporting and the opelanng

effectiveness of sucb ..onfiols. ;; ;il;;; includes evaluating ii" uppropriu,"ntts of accounting policies used and the

Teasonableness of thc .. iounting estimates made by the comp-r'.1t ..'r*'* well as evaluating the overall presentation of

the financial stateme|' '

We believe that the rrl'

financial statements

rit €vidence we have obtained is suffrcient and appropriate to provide a basis for our opinion on the

OPINIOIN

In our opinion and L rlte best of our information and according to the explanations given to us, the afbresaid financialstatements give the iI i')i rnation required by the Act in the manner so required and give a tlue and fair view in contbrmity withthe accounting princil. I generally accepted in India.

REPORT ON OTHE:i LEGAL AND REGULATORY REQUIREMENT;

As required by the corrrpanies (Auditor Report) order 2015 ("the orde/'), issued by the central Govemment of India in termsof sub section ( I 1) o1' ' cction 143 of the act, we give in the Annexure A - a statement on the matter specified in paragraph 3and 4 ofthe order.

We report that:

a) we have sought i ' rcl obtained all the information and explanations which to the best of our knowledge and belief werenecessary for the i .rrposes of otrr audit;

b) In our opinion, p'| er books of account as required by law have been kept by the company so fax as it appears ftom ourexamination ofth. ;u books.

c) The Balance Shet I'rofit and r.oss statement and cash Flow dealt with by this Report are in agreement with the books ofaccount.

d) In our opinion, Ll :rforesaid financial statements comply with the Accounting Standards specified under Section 133 ofthe Act, read Ruir I ofthe Companies (Accounts) Rules,20l4:

On the basis of ,r.- written representations received from the directors as on March 31st,2017 taken on record by theBoard of Direclt' . none of the directors is disqualified as on March 31st, 2017, from being appointed as a director interms ofSection i1,.1(2) ofthe Act.

Wi*r respect to 11" ldequacy ofthe intemal financial controls over financial reporting ofthe Company and the operatingeffectiveness of sr; . ir controls, refer to our separate report in Annexure _ B and

with respect to 1 ' other matters to be included in the Auditor's Report in accordance with Rule I I of the Companies(Audit and Audii 'rs) Rules, 2014, in our opinion and to the best of our information and according to the explanationsgiven to us:

i. The Cor: rrny has disclosed the impact ofpending litigations on its financial position in its financial statements -Reler Nr, . (vii) (c) to the financial statements.

ii. The coL rlny did not have any long+erm conhacts including derivative contract for which there were anymaterial leseeablelosses.

iii. There l ,. no amounts which were required to be ffansferred to the Investor Education and protection Fund bvthe Cou . ry.

For, V. J. Amin & Co.,

Chartered Accountants

Firm Bcs.No.100335W

e)

Date:30/05/2017

Place: Vadodara

(cA. arV. Patel)Par!:ler.

Membership No.134028

ADVANCE SYNTI,t)( LIMITED (Eartier Known As Adyance Syntex private Limited)

ANNEXURX A to the Auditor's Report

cARo 2015 Reporl "r th€ financial statement of ADVANCE syNTEx LIMITED (Earlier Known as Advanc€ syntexPrivate Limited) for. r.,c period ended March 3lst, 2017.

To M€mbers of Ad'r: .,:c Syntex Limited. (Earlier Known as Advance Syntex private Limited)

on the basis ofrecol'i'' produced before us for our verification/ examination as we considered appropriate and in terms ofinformation and expll,,.itjons given to us for our enquiries, we state that;

i. In respccl r ;ts fix€d assels:

a) The i'ompany has maintained proper records showing full particulars including quantitative details andsiLLrr.,rl ofthe fixed assets on the basis ofavailable information.

b) As c'plained to us, all the fixed assets have been physically verified by the management in a phasedpeli"r ical manner, which in our opinion is reasonable, having regard to the size ofthe iompany and natureof ii ' ssets. As informed to us, no material discrepancies were noticed on such physical verification.

c) As c:'rlained to us, no substantial part offixed assets has been disposed offduring the year, and it has notallr- r .l the going concern.

d) In tll'' opinion ofthe Management fixed assets should be clubbed into a single group for the assets which arehar::: useful life as prescribed in the Schedule II to the companies Act, 2013. Accordingly they havecluf i ..il the same based on useful life.

ii. In resDe. . of its inventories:

a) 'l l* ,. ,,cntories have been physically verified during the year by the management.

b) Acf i.ring to the information and explanation given to us, the procedures of physical verification ofjtrt...rriesfollowedbythemanagementarereasonableandadequateinrelationtothesizeoftheCompanv

\rr .rre of its business.

c) orr i. basis ofour examination of the records of Inventories, we are of the opinion that the company hastr:rtit r:rted proper records of inventodes. As per the information and explanation given to us, no materialdiscr,,)ancies were noticed on physical verification.

iii' In res1r,. 'rf the loans, secured or unsecured, granted by the company to companies, firms or other partiescover('!. ihe r€gister maintained under Section lg9 ofthe Companies Act,2013.

a) Thi' 'ornpany has not granted loan to firms and other parties covered in the register maintained undersecr I89 ofthe Companies Act, 2013. Hence no reporting is given on this clause.

b) Acc,,. 'iing to the sub clause a) above applicability ofall other terms and conditions for such loans and aboutprel rJicial to the interest ofthe company, reporting since not required not given.

d)

Tir- ,. ,'pany has taken loan under section 189 ofcompanies act,20l3 & it's repayable on demand.

Ac. rrng to the information and explanations given to us all other terms and conditions for such loans are

noL na facie prejudicialto the interest ofthe company.

ADVANCE SyNT :...; LIMITED (Earlier Known As Advance Syntex priyate Limit€d)

iv. ln respcr., i)f internal control.

ln our o' 'iion and according to the information and explanation given to us, the company has an adequateinternal \ rrlrol system commensurate with its size and the natue of its business for the purchase of inventoryand fixe'i iissets and for the sale ofgoods and services. During the course of our audit we have not observed anycontinu, trilure to correct major weaknesses in such intemal control system.

v. ln r€spccr ofdeposits from public

Accordirr to the information and explanation given to us, the company has not accepted any deposit fiom thepublic ' r'efore the provisions of clause (v) of paragraph 3 of the cARo 2015 are noiappticable to theComparrr.

vi. lrr t.cs1;. .. .,l maintenance ofcost records

Irl pursL rr': lo the companies (cost Records and Audit) Rules,20l4 prescribed by the central Govemment underSection ; i )t ( l) ofthe Comparies Act, 2013., is not applicable to the comDanv.

vii. In respc . ,.fstatutory dues:

a) Acelrf(iing to the records ofthe company, undisputed statutory dues including Employees, state Insuance,Sai' ' r rix, wealth Tax, Duty of customs, Duty of Excise, value Added T;, In;o;e Tax, service Tax,Pro

''irl 'rrt Fund and Professional Tax, cess and other material statutory dues have been generally regularly

de1r, .,.d with appropriate authorities.

b) Acc r I ng to the information and explanation given to us, no undisputed statutory dues includingEr ' .''ees' state Insurance, sares Tax, wealth rax, Duty of customs, Duty of Excise, Value Added Tax,Incr r:'' Tax, Service Tax, Provident Fund and Professional Tax, cess and other material statutory dues wereoLir

' ring as at 3l't March, 2017 for a pedod more than six months from the date of becoming payable.

c) Th..:, .uted Statutory dues are as listed below;

w:.i

rrE

rL

Aalhoriq) WhercCsse is Pendins

Sales

.lppellate Tribunal,,lhendabad

')ulesAppellate Tribunal,.'lltemdabad

Tax

Tax

FinancialYear

DisputedAmount Rs,

Remarks

2009-t 0 588,725 Input credit clqimed is An;i"*ed tnproportion. h is explained that in I't appeal theorder shall be in favor of appliiinr. TheI ompant hqd pqid under Drotesr Ri230 000/_

2009-t 0 359,779 Input credit claimed is dissllo*ed i,proportion. It is qcplained that in 1", appeal theorder shall be in faror of appliianr. Thecompqny had paid under protest Rr 65 00n/_Dy. Comm. Ol

('ommercial Tax,i udodara

t;--c"rr. ofCctmmercial Tax,

I/udodara

2010-1 I 562,575 Input credit clained is disallfied-iwingassessm.ent due to Input used in mam4facturingand sales of exempted goods. The Companyhas paid under protest Ik. 3j000/-

2010-tl 3,053,188 Input credit clqimed is dita rred duri"passessment due to lnput used in manufacturitfrand sales ofexempted goods. The Company haipaid under prqtest Rs. 200000/-

Dy. Conm. OfI ctntnercial Tax,

i adodara

2011-12 2,78,t 46 Input credit claimed is disaltow:ed durWassessmenr due to lnput used in manufacnringand sales of exenpted goods. The Conpany haspqid under protest Ps. 56000/-

')y. Comm. OfCommercial Tax,

l'udodara

20r r-12 11,75,942 Input credit claimed is disaltowed durirwqssessmen! due to lnput used in manufacturirrtand sales ofexempted goods. The Company haspqid under protest Rs.240000/-

#*\bti{gJ',. /^&

riti_+'

ADyANCE SYNTUX t,IMITED (Eartier Known As Advance Syntex private Limited)

viii, ln respcii u,faccumulated losses and cash losses.

The comprL:ry does not have any accumulated losses at the end of the financial year and has not incured cash,- l"r:::

in rlrL. .financial

year and in the immeOiately precedin! nnancral year.rx. tx respccl ut dues to financial institution /banks/debentures

Accordirr.q to the information and explanations given to us and as per the books and records examined by us, theCompanv hls not defaulted in repayment ofdues to financial institutions or bank.

x. Ir r€spcct {)f Loans and advances granted on the basis of security.

Accordi'g io information and explanations given to us the company has not granted loans and advances on thebasis o|security by way ofpledge ofshares, debentures and other securities.

xi. ln respcet olapplication ofTerm loans.

The corrrPrttty has raised loans during the year tom the banks and financial institutions. According toinfolnaLio r and explanation given to us the company has applied such loan frud for purpose for which the loanwas obtaiit.J.

In respcct ol Fraud

DLrrirtg tire course ofour examination of the books and records of the company, canied out in accordance withthe genei:LilV accepted auditing practices in India, and according to the information and explanation given to us,\4

" navc rl ' : rcr come across any instanco ofmaterial taud on or by the Company, noticed or reporte; during the

year, nof t.:ire we been informed of any such case by the Management.

For, V. J. Amil & Co.

Chartered AcccLrltar;t,

M€mbership N(,. I 3.1 q: :i

Place: Vadodar,i

Date:30105120i1

(cA chi

ADVANCE SyNTI,t;{ LTMITED (Earlier Known As Advance Syntex private Limit€d)

Annexur€ - B to the Auditors, Report

Report on the Internrl l'inancial controls under clause (i) of sub section 3 of section 143 of the companies Act, 2013(rrthe Act")

we have auditcd thc irr "rnal

financial controls over financial reporting of .,ADVANCE syNTEx LIMITED, *thecompany" as o I 3 I "' l\

' r" I lr' 201 7 in conjunction with our audit of the financial statements of ro. tr,. p".ioo

"no"a on that date.

Management's ltesp{,r\;i)ility for Internal Financial Controls

The company's DiarlngurL,ent is responsible for establishing and maintaining intemal financial controls based on the intemalcontrol over financial |epolting criteria established by the iompany considering the essential components of intemal controlstated in the cttidancc Note on Audit of Intemal Financial controls over Financial Reporting issued by the Institute ofchartered Acc'irntrtrr ' r 'India ('lcAI'). These responsibilities include the design, implementation and maintenance ofadequate internrl fl'ir' 'irtl controls that were operating effectively for ensuring th" o.d".ly and efficient conduct of itsbusiness' inclu'li r-!i iL'|l' 'r rrce to compan-y's policies, the safeguarding of its assets, the prevention and detection of frauds anderrors, the accuracy,ri.l completeness ofthe accounting records, anJthe timely preparation ofreliable financial information,as required undel tlrc LL,r. panies Act.20l3.

Auditors' Reslronsibilitl

our responsibil lv is 1' lless an opinion on the company's intemal financial conhols over financial reporting based on ouraudit' we cond cle(i ' 'rt ]Lldit in accordance with the Guidance Note on Audit of Internal Financial contols over FinancialReporting (the iitii,ir .i.' Note") and the standaxds on Auditing, issued by ICAI and deemed to be prescribed under section143(10) ofthe ('tr rrt:r i''r Act,2013, to the extent applicable to an audit of internal financial controls, both applicable to anaudit of Interna I Finar rc ii i controls and, both issued by the Institute of Chartered Accountants of India. Those standards andthe Guidance

^!ote f"l(r;r'c that we comply with ethical rcquirements and plan and perform the audit to obtain reasonable

asswance abotrt \vhcllr'f r'dequate intemal financial controls over financial reporting was established and maintained and ifsuch controls ol ,rarcr itively in all material respects.

our audit invt : ' I Ining procedues to obtain audit evidence about the adequacy of the intemal financial controlssystem over 1l r" r'' orting and their operating effectiveness. our audit of intemal financial conhols over financialreporting inclu(lJ'L oL'1.. 'rg an understanding of intemal financial controls over financial reporting, assessing the risk that amaterial weaknrss e) lslr. ilnd testing and evaluating the design and operating effectiveness of intemal control based on theassessed risk 'l e pr' q, rrres selected depend on the auditor's judgment, including the assessment of the risks of materialmlsstatement o' iirc i lil statements, whether due to fraud or enor.

We believe thrr' 'l' , .vidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion onthe Company': ,: nancial conhols system over financial reporting Meaning of Internal Financial Controls ov€rFinancial Rcp,, ..,a

A company's itr"r'trr'l lr' rcial control over financial reporting is a process designed to provide reasonable assurance regardingthe reliability L l llrr 'ir i reporting and the preparation of financial statements for extemal purposes in accordance withgenerally acce; .d i1.... iting principles. A company's intemal financial contol over finaniial reponing includes thosepolicies and pr, ' lL' t (l) pertain to the maintenance ofrecords that, in reasonable detail, accurately and fairly reflect thetransactions arr ... Its of the assets ofthe company; (2) provide reasonable assurance that fansactions are recorded as

necessary to f( pr'| , ction of financial statements in accordance with generally accepted accounting principles, and thatreceiptsandexl'rrr(riilrr,,rfthecompanyarebeingmadeonlyinaccordancewithauthorizationsofmanagementanddirectors

ofthe compan' ,,:. r: 'rovide reasonable assurance regarding prevention or timely detection of unauthorized acquisition.use, ordisposir ,r|i ,rmpany's assets that could have a material effect on the financial statements.

Inherent Linr i . i. rrternal Financial Controls Over Financial Reporting

Because ofthc .,ritations of internal financial controls over financial reporting, including the possibility ofcollusionor tmproper lll irrr! :r overtide of conhols, material misstatements due to enor or fiaud may occur and not be detected.

Also' projectiorrs 01'arrl cvaluation ofthe internal financial controls over financial reporting to future periods are subject to therisk that the inr' r'rtal finrrrrcial control ov,er financial reporting may become inadequate because of changes in conditions, orthat the'degree L,'r'conrpli:rnce with the policies or procedure, i"y j.".i".".

Opinion

In our opiniorr, tlre corrrpany has,.in all material respects, an adequate internal financial controls system over financialrePorting and strch irrr'' 11 financial c-ontrols owr lurancial reporting were operating effectively as at 31 December 2015,based on the )ternai ( ')ntrol over fmancial reporting criteria est;tisneo by the company considering the essentialcomponents of i rternal ' lntrol stated in the Guidance Note on Audit of Intemal Financial conaols over Frnancial Reportingissued by the Lr"iitLrrc oi Chartered Accountants oflndia

For, V. J. Anrin ,\' tio .

Charter€d Accr . ,tit| .

FRNo.l00335',1

(cA chiPartner

Membership ),.. I i.I ttj

Place: Vadodr .

Date: 30/05/2t, .l

ADVANCE SYN'I'[]i LIMITEDNorEs Foi,lirN(i ;:.rRr

"";,iTHIJUlflfiTil'J tr"x private Limited)

Note No: # 27 c,tt:tq, , ., Infornation a

L C,,tt)o.N tc I nformatioo:

Advatrct s'rrr'rx Limited earlierlQown as Advance syntex private Limited is a company engaged in the business ofliil . . .il

t,

'::i:,J:"* or Metallic varn, lacquer .oui"Jutr,o,nur merarized polyester film, slitter powder and

lccounting Dolicies:

i,reparation:

Tr ' rcial slatemenls have been prepared to comply in all material respects a.vith the cenerally Accepted' Principles in India (lndian cAAP)- i".rral'"i t'r'" e.""rit,ng srundurd, notified under the retevant: ,. fthe Companies Act,2013.

I I ''ial statements have been prepared under the historical cost convention on an accrual basis. Thei, ., ., i)olicies have been consistently by the company.

L:,.,1 ilsliinates:

Tl ialjon of financial statements are in conformity with Indian GAAp requires judgments, estimates andir I ri to be made that affect the reported urnount oi "t"ltr'-a liabiliiies, jlr""r"r"r"r' ,i i.iilg"-ir'rl irr' ' I rr the date of the financial Jtat".intr -o ttt" i"pon""J

"."*t of revenues and expenses during the' t iod' Difference between the actual results and estimates are recognized in the period in which th€r ' " r(nown/ materialized. Any material changes in ".,i.*a. u.. separatery disclosed in financiars ,r. )y way notes.

Ir:.. r'i! ussets & Depreciation:

' Ls are stated at cost less accumurated depreciation, if any. cosl comprises purchase price and anyutabre cost ofbringing the assets to its woiking .oniition ror rts intended use.

. r)I on Tangible Fixed Assets is provided on the written Down value method considerinq the usetulassets the usetul life of the assers. is.considered as per the schedule ii;il;;;;;:,,toii.."ro,:! , ,.,irr and machineries where useful life of the ,urn. i. a.t.r.in"J ."0' .inri.i'"# ,rr.^jj.t*.ai . . 'l'he useful life ofthe assets is disclosed under the notes ofixed assets.

{ lr.

6. 1,.

l,

s

l.

I comprises of Raw Materials, stores and Spares. Raw Materiar and stores & spares are stated at' 'd at on the first in first out method with the inclusion of appropriaie munuru"tu.in! ou".ii*i.-*t "i"r or net realizable value whichever is less. Finished coocs'are valued at cost-or net reatizaute,. is lower,

ilccognition:

iom sale of goods and services is recognized when significant risk and rewards in respect ofare transfered.

,'e is recognized on accrual basis except when realization ofsuch income is uncertain.

. xs. Contingent Liabilities and Contingent Assets

is recognized when the company has a present obrigation as a result of past events and it,s probablerw ofresource-s will be required to settle the obligati-on, in respect ofwhich a .etiaute estimai, can ue'slons are not discounted to its present values and are determilned based on best .rti;; ,;q;;;;'jligations at the balance sheet date. These are reviewed at each balance sheet date ani;dffi;J i;. trrent management estimates.

ADVANCE )

NOTES FOI

LIMITED (Earlier Known As Adyance Syntex privat€ Limited)\RT OF FtNANCIAL STATEMENTS

r:r: Curency Transactions:

' s in foreign currencies are recognized at the prevailing exchange rates on the tansaction dates. Realizeses on settlement of foreign cunency transactions u." .""ognLd in the profit and loss account undertevenue head of accounts Exchange diflerences relating tJ fixed assets are capitalizedto respective

'.rrnt ofassets:

cd loss is charged to the statement of profit and loss in the year rn which an asset is identified asll:#ntffi*loss recoenized in prior accounting peiioa ir."luor"O ir*,ere has been a change in the

benelits:

.. ifrm employee benefits:

r employee benefits expected.to be paid in exchange for the services rendered by employees are: undiscounted during the period emproyee renders services. These benefits include salary, wages,'' performance incentives etc. Bonus to employees is charged to profit and loss account on the actual. isis.

, i,inployment ben€fits:

rr- Contribution Plans:

rer ofemployees is less than limit prescribed under The provident Fund & Miscellaneous Act, 1952,Provident Found & Miscellaneous Act, lg52 is not applicable to thc comDanv.

.i Benefit Plans:

' ie Gratuity Fund scheme is the Defined Benefit plan. provision for gatuity has been made in the: . rcording to the valuation made by actuarial.

,tcome:

'x - Provision for current tax / minimum alternate tax (MAT) is made based on tax liability computed,(lering tax allowances and exemptions.

: ' I'ax - Deferred tax is recognized on timing differences between the accounting income and taxablei the year and quantified using the tax rates and laws enacted or substantively enacted as on the

' reet date' Defened tax assets are recognized and carry forward to the extent that there is a reasonableiertainty, as may be applicable, that sufficient future taxable income will be available against which. ed tax asset can be realized.

.,.rPerShare:

. rngs per share are computed by dividing_ the net profit after tax by the weighted average number ofi. es outstanding during the period..Diluted eamings per share is computed bidividing th; profit After

rveighted average number of equity shares considered for deriving iasic earnings pir share and arso.. cd average number of equity shares that courd have been issued upon conversion ofa dilutive

'l r

:

1.

t,

8. lr,

i.,

10.

.1

I l. l'

.luity shares.

{)VANCE SYNTEX LIMITED (Earlier Known As Advance Syntex private Limited)NOTES F'ORMING PART OF FINANCIAL STATEMENTS

13,

a,

Cash and Cash Equivalents:

Cash and cash equivalents comprise cash and cash on deposit with banks and corporations.

Other Notes to Accounts:

Revenue From Operation:

Manufactured Goods & Services:

Micro, Small and Medium Enterprise !

The Company is in the process of identiling the supplier, if any, covered under the Micro and Small enterprise asdefined under Micro, Small and Medium Enterprise Development Act,2006. Due to non-availability of data, tredetails required have not been fumished.

Employee Benelits :

Delined benefit plan:

The Company recognizes the liability towards the total liability of gatuity during cunent period ofbalance sheetdate. The company has provided retirement benefit payable to employees on the basis of actuarial valuation anddetails ofactuarial valuation are as under:

a) On Normal retiremenV early retirement/ withdrawaVresignation:

As per the provisions ofPayment of Gratuity Act, 1972 with vesting period of5 years ofservice.

b) On death in service:

As per the provisions ofpayment ofGratuity Act, 1972 without any vesting period.

b)

c)

14.75.17.847 /-

ADVANCE :

NOTES FOI

. LIMITED (Earlier Known As Advance Syntex private Limited),,\RT OF FINANCIAL STATEMENTS

r10st recent actuarial valuation ofplan assets and the present varue ofthe defined benefit obligation for, ity and leave encashmenr were carried out at sr., nraicn, iiirilv un u.,rurv.

'resent value of the defined benefit obligations and the related curenr servrce cost and past servicerve.e measured using the proiected unit credit Method, which recognizes each period

"'f ,;.;;. ;.I rise to additional unit of benefit entitlement and measures

"u"tr unii ..prru,"ty to buird up the finaliltron.

rllowing table sets out the status of the gratuity plan and the amounts recognrzed in the company,s,al statements as at 3l3t March. 2017.

a

Particulars

.,e amounts recognized in the Balance Sheet are as foltor"*.rlue of plan assets at the beginning ofthe period

,rit value of benefit obtigationias at-thd6difii! odiod

'-d Status

.iability

c amounts recognized in the profit & Loss A/c are as fo ois:-r r)t Service Cost

st on Defined Benefit Obligation

!ctuarial Losses / (Gains) Recognized in year

rrse to be in P&L

.auges in the value of defined benefitred benefit obligation as at the ofthe.ce cost

'sI cost

rLrial Losses/(Gains)

cd benefir obligation as at the end oJthe veiEdiod

rg Period:

actuarial for the above ar€:runt rate pel annum

. ted salary escalation rate per annum

ion Rate per Annum

li.

't.

D

485'719

ADYANCE SYNTEX LIMITED (Earlier Known As Advance Syntex priyate Limited)NOTES FORMING PART OF FINANCIAL STATEMENTS

d) Basic and diluted earnings per share (EPS) is calculated as under:

Particulars

For the Periodended on

3l/03/2017 (Rs.)

For the Periodended on

31/03/2016 ks-.)Total Numbers ofOp Eq. Shares s 814660 3876440

Issued During the Year 3287199 1938220

Buy back During the Year

Weighted Average Numbers of Eq.Shares '7 592023 4789793

Eamings After Tax 10636896 61t4157

Basic Earnings Per Share t.40 1.28

Diluted Earnings Per Share 1.40 t.28

e) Related Party Disclosures: (As Required By AS 18)

Sr. No. Name ofRelated PartyNature ofRelationship

Nature ofTransactions

Amount ofTransaction

For thePeriod ended

on3l/0312017(Rs.)

For thePeriod ended

on

3l/03t2016(Rs.)

I Aneree corporation Associate FirmSALES/JOB WORK 4,081,553.00 6,345,720.00

PURCHASE 2,874,250.00 4,024,220.00

2 DD Engg. Corporation Associate FirmSALES 2s,46,000.00 2,768,459.00

PURCHASE 00.00 99,706.00

3 Earlh Enterprises Associate Firm

SALES/JOB WORK 73,265,634.00 65,716,30t.00PURCHASE & JOB

WORK 50,661 ,701.00 9,966,844.00

4 Devang Enterprise Associate Firm SALES 1,943,s00.00 s,728,149.00

5 Anron Metalisers P Ltd Associate Firm SALES 60,97 ,724.00 9,27,031 .00

6 Dhirendra VoraFather ofDirector

EXPENSES 00.00 9,611.00

7 B. D. Vora MD

Repayment ofLoan/(Acceptance ofLoan)

51,25,000.00 40,00,000.00

Director

Remuneration18,00,000.00 19,50,000.00

8 D D Vora Director

Repayment of Loan/(Acceptance ofLoan)

( 15,25,000.00) 37,50,000.00

DirectorRemuneration

3,00,000.00 50,000.00

ADVANCn .. -'rTE_'..p9185 p1; '' . : .1i;

LIMITED (Earlier Known As Advance Syntex private Limited)\RT OF FINANCIAL STATEMENTS

..ns in Foreign currencies on account of:

l

i

S,

t_

I iii.,. iosr.,.,on Specilied Bank Notes.(SBNs)

C]

(l

(

.ng cash in Hand as on

t .20t6

i'crmitted Receipts

- rmitted Pa).ments

iDount DeDosited in Banks

. rg cash in hand as on

:.2016

. of realization of Current Assets in the ordinary course of business will not be less than the value at. ' are stated in the Balance Sheet.

.cs of Trade Receivable and Trade Payable are subject to confirmation, reconciliation and.. , ial adjustments, ifany.

ny has provided net deferred tax liability in the books of accounts according to the Accounting.;ued by the ICAI .

. ur figures are regrouped, reclassified and rearranged wherever necessary.

FOR ADVANCE SYNTEX LTD.

h)

i)

D

k)

For, V. J. Anriri .. .

Chartered Acc,

Parher

Membership ) .

Place: Vadod.

Datet 30/05/2 . ,

/l)AryZ

r"r".o.K(o*Din: 0671871 I(Director)(Chairman / M,D.)

CYBirafPancholi

Company Secretary

Mr.

(r,s9,7 52)

(3,45,000)

Vasanwala

ADVAI\CE SYNTEX LIMITEI)(Elrlier Krowd As Advrnce Syrt€t Pdvate Limited)

Bahtrce Sheet as otr 31st Msrch.2017

As per our report of cvcn datc

For. V. J. Amin & CoChartered Accountrnas

cA.Pararel

ADVANCE SYNTEX LIMITED.

(ChairnaD / MD)Dir No.r 0161394

ay'Bir|irPrrcholi(Conprny SecretarT)

Plscer Vsdodsrs

DIN No: 067187U

M, No.r 134028

Placc: Vadodara

Dste! 51102017

II.

(l)

(z)

lpng-Tern Bo;rwirysDcfened Tax Liabilitics (N€0

Long Term ProvisioDs

(i) Tangible Arsets

(ii) Intargible Assets

c) Trade Rrceivables

d) C.sh .nd C.6h Equivaleots

Shod-Term l,oans ad Advarc€s

Other Curre[t Assets

3

5

6

7

8CI

t415

l6

9t,018,590

21,072,555

97,2s9,356

1,988,23s

365,422

155,380,006

tt3,121,704

s,073,892

58,1,16,600

20,670,033

74,347,702

2,778,0t2

3l1,007

138,s19,763

97,516,1l5

6,411,137

91,191,351

3,U9,344

163,274,432

2,417,837

184,963,703

21,r53,093

25,685,t37

82,563,178

r,076,680

t39,728,4tt

3,181,954

t57,578,282

15,245,791

16,840,515

FRr{\r00335W

ADVANCE SYNTEXLIMITED(Earlier Known As Advance Syntex private Limited)

Profit & Loss Statement For the period Ended 3lst March, 2017

n

NoteNo,

As at3lst March,2017

As at31st March,2016

I.

II,

III,

IV.

(l)

(2)

(3)

(4)

(5)

(6)

VI

VIIVIII

X

lRevenue From Operation (Including Duti€s & Taxes)

lLess: Duties & T&xes

I

lLess. lnter Unit Transfer

lR!\ enue ftom Operations(Ner)

lOther Incomes

Tot{l Revenue (l + lI)

Expenses:

Cost of Material Consumed

Changes in Inventories of Finished Goods, Work-in-progressand Stock-in-Trade

Employee Benefit Expenses

Filance Costs

Dcpreciation and Amortization Expense

Olher Expenses

l'otal Expeoses

Profit before PriorPeliod Items and Tax (m-N)Exceptional and Extra Ordinery ltems

Exceptional ltems Income / (Expens€)

Prior Period ltems Income/(Expense)

Misc. Exp, Written OffPrcfit before T&\ (V-VI)Tax Expense:

(a) Cunent tax

(b) Defened Tax

Profit/ (Loss) for th€ period (Vtt-Vlt)

Er ings Per Equity Share

ll) Basic

:2) Diluted

20

2l

22

24

l819

72s.281,359

58.994.004

578,991,1s9

666,281,355

r20. | 63.588532.093,314

49.O13.670546,123.767

1.935.847

483,079,644

2.348.950548.0s9.614 485,428,594

4t2,483,990

(3,750,234)

5,048,544

39,621,473

17,238,860

60.623.655

367,366,632

(23,222,259)

4,638,456

39,249,1r1

21,539,r43

61.068.306

s3r,266,2a9 470,639.389

t6,193,325

(812.336)

t4;189,20s

(1,345,216)

(31 r,007)

15,980,989

6,133,870

(789.777)

13,132,982

7,46t,563(442,738)

s,344,093

10,636,896

1.40

140

7,018,825

6,114,157

1.28

Significarl Accqunting Policies and Noles on Financial Starementst-27

For, V. J. Amin & Co,

Charterrd Accountants

As per our rcport ofeven date

(Chairmen / MD)Din No.:0161397,1

NY;BirfPancholi(Company S€cretary)

PIace: Vadodara

(Dircctor)DIN No.r 06?l87ll

M, No.: 134028

Placc: Vrdodara

Date:5/30/2017

ADVANCE SYNTEX LTMITED (Erdtcr t(lonr As AdvrDce Slrrer priv.re Lini.ed)NOlES FORMING PART OF FINANCIAL STATEMENTS

NOTE # ISIIARE CAPITAL(i) Authorised:

Bquity Shar.s ofRs- l0/- Esoh

Issued:

Equity Shares ofRr. l0/- Each

Soh6cdbed & Paid-up:

E4uity shar€s ofRs. 10/- each.

Call UryaidPar Value p€r Sharo

(ii) Rec.nciliation ofNumbers ofEquity Shares:

Equity Shar€s:

Sharcs Outstanalina ai ihe bigiming ofthc yerrSha.es bsued dudng tlle Period

Frcsh / Ridt Issue

Bonus Is$cSh.res Oubtrding rt the end of the Yerr Tobl

(iii) ltc right pr€ferenc€ and .€strictions attrchirg to each class ofsharcsiDcluding rcshictions on thc disribution ofdividends and rcpayneit ofcapital.

(i9 Share. in.espcct ofc.gh cla&s in lhe conpany hold by its holdiryconpany or ultirnate holding conpany

(v) Dcrails ofshar€holdcrs holding more |[ar 5olo sharcs.

Mt Bh.van D VoraMr. Dc DgD Vorllvtrs. NanitaB VonMrs. Darsbana D Von

(vi) Shar€s rcscrved for issug under option and oonFacts / conmitments forsalo ofshares / disinv€sstnent.

(vii) For the pe.iod of 5 ycrr6 ilrnediatety precBdh8 the date as at Balance

shc.t is preparcd

- Aggrcgate nunbcr and olass of lhatrs allored a! fttly paid-up pur$ant toco ract(s) $jitholt payment b€ing reoaivad in cash.

- Aggrcgste nurtrber and class of share! alloted as ftlly paid-up by way ofboous sharos

. Aggrcgate nunber and class of shares bought back.

(viii) Tenns ofatry sccurities clnv€nibl€ into equity / pioferece shares issued

aloog with lha eadiest ddte of cotrt€rsion in dcslending ordar $rniog tom the

ftnhest suoh date

(ix) Cals unpaid

(x) Forfeitcd shares

NOrX_4!RF1SERVES AND SURPLUS

Surplur ir the Strtement ofProfit & lrlrOp€DiDg balalca

Md :Prodt duritrg lhe y€ar

L.ss : Utilsis€d Dudng thc Year For Issue otBonus shrros

lr$ i Tax Adustn€nts ofhior Yea$

ClosingBalrnc€. [Al

9,250,000 92,500,000 8,000,000

9,101,859 91,018,590 5,814,660

9,101,859 91,018,s90 5,814,660

l0

80,000,000

58,146,600

58,146,600

l0

5,814,660

2,100,000

1,337,461

1.098.928

58,146,600 3,a76A40 38J64.4OO21,000,000

,,rul.dry yt,ol!,sru

Asat3I-03-2017

40.15%

1,163,010

162,015

160,5t5

20.00%

13.|o/"13.08%

Sacrdty PrcniunOpcning balanc€

Add : During lhe year

l,€ss : Utilis€d Durfug the year For Issue ofBonus Shircsclosins Balaoc€ [B]

Closing Brlance [A+Bl

20,670,033

10,636,896

1,61t990

__zt!2&2t.012,555

4,200,000

4200.000

21t12.555

33,938p?6

6,n4,157

19,382,200

20,670,033

,0.670.033

Limited

Director

Hel3,688,067

For Adva Syntex

ADVANCE SYNTEX LTMITED (E rlier ltuowr As Advrncc SlTrex p.ivrte Limited)NOTES FORMING PART OF FINANCIAL STATEMEI{TS

10,118,081

__32q9!Z_

2,376,2t5

t 6,52sgs2

7,519,103

26.48r.270

40,818.459

___4grJ:9_

3,109,029

t9,241,tl1

11,179,103

_-_li32r343_

Tcrmsofl,o'r lDstrltmeDt

DueoDCurre[t

M.turity

12 to 120 Months Monthly

2,109,055

(120-820r

__j2$235_

365,422

_-____:6s&_

26,928,888

2,898,832

fl20-820)

___?JJ!!n_

3l1,007

311.007

108,45t,098

20,000,021

14,011,665

@

136,213,422

t2,792J51

:r-it,ooalrfad'

ror AdvaffiYntex Limited

Ntz Di(ectoc

*i.**iffiNOTE # 3

LONG TERM BORROWINGSS9stlcdFrom Bank

F om Others

(Secur€d by hlpothecalion ofplant & Machin€ry)

Unsecured

From Bank

Fron Olhers

From Related Panies

n.239.3s6 74.341.702

Notes :

i) T€rns of BorrorvirS

Detrils of l.nder

Total Term lran F orn Ba*s and NBFC

NOTE * 4

D.ferred Trx LirbilirlesDcfened Trx liability oo account old€preoiationDefered Tax liability on aocount ofother difrercoce

NOTE # 5

Lon! T.r'n Pmvisions

Long Tenn Provision ofcratuityI ercst on Term Iran Payablc

NOTE # 6SHORT TERM BORROWINCSS€ctired

Fror! Banks - (Cash Credil atrd Demand lran)

1. Prinrrv Securifv:

Hwothelaliolr o!€r All Curaent Assets ofthe compatry,2. Colhteml s*ritv:Filst Charge on Movable Propeny of th. company othd than hnotioated roNBFC.

First Chrrge on hmovablc Poreny ol the oompany i.e. Fsctory lrnd &Buifding Situat€d ar Plor No: 149, n3n, X8t2 a 104. GIDC Esrate.

RarDansamadi. Po( Vadodam.

Ue'| on FD ofRs. 33.?3 tac ofthe conpatry.Licn on NSC hcld bv Drectors valued Rs. 4. I ? Lacs.

3. Tle hte ofinlerest is (3 Momths MCLR + 3.6070) kesently 11.65%0.

4. Sanclion amount ofcalh Crcdit is Rs. 1200 lacs.

- (Working Capital Denand Loan)

First Charge on Indusfial plot of land held by rclativ€ ofdirecror situat€d at

Block Sllr.,,ey No 1222 ofvillage Po., Dist Vadodan

2. The rate of interest is I I .000/0.

3. Sanction amounl olwoddns Cspiial Denand Loan is I(s. 200 lacs.

Cune naturities oflrry-t€nn debi (S€cued)(Secured by h)?olhecation ofPla & Machinery)

Un$.undFrom Bar*Frcm Othcres

Fron Relaaed Padi€s

Cutr€nt naturiti€s oflong4€rm debl (Umeoued)

F.om Othe$

ADVANCE SYNTEX LIMITED (Earlier ltuown As Advance Syntex p.iv{re Limit€d)NOTES FORMINC PARTOF FINANCIAL STATEMENTS

Anl,l,t Rsit.rr*:l+iiidffiffi

NOTE # 3

LONC TERM BORROWINGS

S{scEdFrcm Bank

From OdFrs

(Seoured by hlTothe{ation ofPlant & Machinery)

!J!!4llrlslFrotn Batrk

From Others

70,114,081

70,n4987

2,376,2t5

16,525,952

't,579,103

26,48r,210

40,818y'59

_______iqq!4e

3,109p29

19,24r,111

11,179,t03

______ 33 J29,243._

Malurity

y|.259356 74.341.702

!) T€ms of Bofiowitrg

Delib of leder

Total Tern Loa! F.om Banks and NBFC

NqIE-TIDeferred Trx Lirbililies

D.f.ned TaJ( li.bility on aclount ofd€preciation

Defened Tax liability on aooount ofolher difrerence

NqIE$Lon! Term Provislons

Long Term Provision ofcratuityIntercst on Tcnn lrar Payable

Totd

NOTE # 6

SHORT TERM BORROWINCS

Sccured

From Bank! . (Ca!h Cr€dit and Demand laatr)

l. Prinrrv Security:

HyDothecation ol€r Ajl Cunent Assets of$e conpany.

2. Colloterrl .€critvl

First Charge on Mor$le Properiy of the company olh€r lhan hFoticated to

NBFC.

Fitst Charg€ on Immovablo Porerty of dlo crmpany i.e, Faotory Land &

Building Situat€d at Plot No: 149, B3n, B8n ard 104, GIDC Estat€,

Rananeamadi. Por. vadodara.

Lien on FD ofRs. 33.73 ho ofthe companv.

Lien on NSC held by Directors valued Rs. 4. | ? Ilcs.3. The rrt€ ofint€rest is (3 MomdB MCLR + 3.60%) Itesently I L65%.

4. Sanction anourt ofcash Credit is Rs. 1200 laos.

Frcm Oth€rs - (Wo*ing Capital Demand Loan)

f,fdlqls-Ssrdg!Fi$t Chsrg! on Induslrial plot of land h€ld by relative ofalir€ctor situated at

Block Suri€y No 1222 ofvillag€ Por, Disr Vadodda

2. The ratc ofinter€st is I L00%.

3. Sanotion amount of Wo*og Capilal Demad Loan is Rs. 200 lacs.

Cun nt rnaturilies oflrnS-term debt (Secur€d)

(&cured by hpolh€{ation ofPlart & Machinery)

Upsecrred

From BaikFrom Othcres

From R€lated Parti€s

Ternlofl,orD Itrstllment

DueoD

12 to 120 Montis Monthly

2,109,055

o20.820)

365422

_____E&_

108,451,098

20,000,021

14p11,665

-----142.462it

26,928,888

2,898,832

020.820)2,778.012

311,00?

1362t3,422

12,792,751

149.006-l?3.00

yntex Limited

Cure0t mahmtr€s oflrng-tenn debt (Unsecued)

For Adv

Direc ivr

ADVANCE SYNTf,X LIMITED (f,rrlier Knorr[ As Aatvlnce Synter private Limitld)NOTES FORMING PART OF FINANCIAL STATEMENTS

Total

2J3s912

452,885

120,291

r,t46,374t4164,r72

64,500

t6248.t78

For A

AntL h ns*trfri*in*{rotal iss"$o,ooe ------lss.5itft-

!{alf-#lTRADE PAYABLES

For Goods & Services

For Capital Goods

For Exp$ses

lbe compatry do€s not have any idonnation related lo Mi6o and Small enterpris€s as deffned under Mioro, Smatl and Medium Enterprise Dev€lopm€nt Ac!2006. Due to non availability ofdat4 tlre details requi.ed have not b€en fimfsll€d.

NOTf, # 8

OTHER CURRENT LIABILITIESStalutory Du€s

Trade D€posiles From Customers

Advanc, from oustomers

NOTE * 9SHORT TERM PROVISTONS

hovision for Expenses

P.ovisioh For Gratuitv

hovision For Intercst

Provision For Taxes

Provision For Audit Fees

89,040,280

4,332,041

t9.749.382I o.., ______llg!2!flL

Syntex

473,5't4

100,000

5.837.t63

_-_!t]l]r

688,364

54115

10,694,505

30,000

re_

L im ited

Director

97.S16.115

\e

/F,

6vw

!{ogocqtJOx

Lb n/ \ltt\< '\o\:/(!

E

olt

i

II

a!

.4

hEaEZ:=dHDFzvt:<anzzx<azoq

z,xl5=

EP 9Zo *<ta tatt Iezz

ADVANCE SYNTEX LIMITED (Earlie. ttuoM As Adv.Dce Sy.tq priv . Lintted)NOTES FORMING PART OF FINANCIAL STATEMENTS

NOTE # 11

OTI{ER NON CURRENT ASSETSOth.r Non Curent Assets

NOTE # 12

INVFIVTORIES lAs Certifi€d hv the M!n!!ehent)Raw Maierial ( inolud€s goods in transit)Finislpd Goods

Stores & Spares

NOTf, # 13

DEPOSIT

D€posil (MGVCL)

Olhers Deposils

NOTn # 14

TRADE RECEIVABLESSc.ur.d, Consid€r€d Cood- Outstaading for a p€riod cxce€ding six mon$s- Others

l€$e: Allowanc€ for Bad & Doubtful Debts

Unsecur€d. Consideftl Good

CASH AND BANK BALANCD

Calh on Hand

Balance with bank! in Cunent AcrounlFixed Deposit rdth Banks

!{allatSSHORT TERM LOANS & ADVANCESUns.curcd considded Good

Adilnc€ Tax ind TDS

Prcpaid Expenses

Brlance $rith Govenunent Aulhoiti€s

NOTE # 1?

OTHERCURRENT ASSETS

Uns..ured- Considered Cood

Ad\rance to Suppliers

OtlEr Curart Assets

I!$rance Claim R€ceivable

- Oulstanding for o period cxceeding six molths fiom th€ date they are due for pa]rnents

- Olhers

Totrl

3.249.344

--3'2!2314

106,639,386

53,655,950

2919.096163.274-432

1,7999s2

617.885

______2,!Jg

1,586,419

\83.371.2U184.963.703

231,51I

2.11t,832

18-149.750

21.153,093

8,824,155

2.900,154

25.685.137

?.969.604

t.t93,244

9.593,041

86,843,598

48,683,355

4.201.451

_-__..82494r-

\,'771,708

1.410.246

__lJ!!2r1_

t,162,174

155.816.108

t51,s78,282

91.545

1,195,864

13.951.382

_______u4J2J_

7,688,154

143,101

9.008.65?

_______.!.qJ40Jl:_

7,244,9s4

160,t02

5.94?.786

13.952.842

' D€bts due by Directors/ E nployecv Firns h which Dneclors are partnerv hi!"te Conpades h which Directorc are Members to be sepamrely disolos.d.

NOTE # 15

Totrl

Limited

Oirector

ADVANCE SYNTEX LIMITED (Errlt€r t<nowD As Advancc Syntex privrte Limited)NOTES FORMING PART OF FINANCIAL STATEMENTS

Ant l,t Rs,

NOTE # lEREVENUE FROM OPERATIONSSrle ofProducts & Services

Salg ofProducts & Sgrvicas

Other Operatins R€venues

Otlrcrs (Duty Draw Back and MEIS Duty)

[,ess: Exoise Duties and Taxes

t€ss: lnter Unit Transfer

NOTE # 19

OTHER INCOMEMiscallan€ous lrloome

ht9|est Income

NOTE # 20

COST OF MATERIAL CONSUMEDInventory at the b€ginning ofthe ycar

Add : Purchases

Lcss : Inventory at the €nd ofthe year

Deteils of mrterials consumed (Imported & Indigenoust)

Mctallised Poly Film and Others

Aluminium wireChemical and Dyes

NOTE # 2ICHANGES IN II{VETORIES OF FINISIIED GOODS. WORKIN PROGRESS I

Invcntory at the end ofthe year:

Finished Goods

Stores And Spares

Inventory at the beginning ofthe year:

Finished Goods

Stor€s And Spares

NOTE # 22

EMPLOYEE BENEFIT f,XPENSESalary & Wages

Contribution to Providenl Fund & olher funds

NOTE # 23

FINANCE COSTInter€st Expenses

Other Borrowing Cost

7220,88202 57,89,93,159

57,89,93,159

4,68,99,845

8,58,43,598 625,37,721

45,42,t0,230

39,1240,060

14,88,637

5J6,55,950

29,79,096

4,86,83,35s

15,90,10,1?3

44,6t,369

4,86,83,355

42,0r457

2,7r,78,728

49,28,247 45,84,041

3,15,94,830 3,09,57,857

54.6123.767 4a30.19.644

593,974 t,94,2913.41.873 2l,54.651

19,35,U1 23,48,950

50,48,s44 46,38,4s6

-ADVr{.NCE SYNTEX LIMITED (Er i€r Ktrorn As Advrnce Syntex privrte Limited)

NOTES FORMING PART OF FINANCIAL STATEMENTS

NOTE # 24

DEPRECIATION &,dMORTTZATION EXPENSEDepreciation

NOTE # 25

OTHER f,XPENSEAdv€rtisement Exp.

Business promotion exp

CommunicationDirector Rcmuneration

Exoisg Exp€nses

Foreign Exchange Dif fereno€

Freight arld Forwarding Charges

Insurance

Jobwork Charg€s

Legal & Profossional Focs

Loading Unloading Expenses

Miscellan€ous Expenses*

Office Expenses

Power & Fuel

Payment to Auditor

Audit fee

Tax Audit Fee

Oth€r Servic€s

Penalty

Repairs & Maintenalco :

Building

Machinery

Othen (lnol. Vehicle running & maintcnarce)

Rent Rates & Taxos

Storage, Clearing, Forwarding & Material Hondlidg Chary€s

Station€ry, Poshge & Subscription

Security Charges

Testing And Analysis charges

Travelling and Convoyanc€

Water Charges

Totrl

248,t59192,6t8165,8r1

2,100,000

11,690,812

331,3?8

2,01l,l0l912,472

I1,683,91I

1,931,149

409,244| 41 1)1

121,065

24,084,994

94,500

60,000

45 {?O

146,863

J)),)0b1,s73,738

690,344

304,047

599,400

88,250

263,364

158,94r

146,363

2,000,000

9,338,163

1,346,446

2,569,204

334,602

10,751,384

1,074,595

269,683

42t,816

r3tA792s,657,531

40,000

200

302,2r2

t,296,742

250,054

6t6,729

2,206,208

2t2,t87630,746

17,501

992,608585,826

* None ofthc items individually agcount for more than Rs. 100,000 or 1% ofrcvenue whichevcr is hiffi

NOTE # 26

EXCEPTIONAL AND PRIOR PERIOD IIEMS

EXCEPTIONAL ITEMS

Loss Due To Fite

PRIOR PERIOD TTTMS

Grotuity

MISC. E)GENSES WRIT'fEN OFFIPO Exepens€s

t,345216

1,345,2t6

L imitedFor Advance

Directo r

ADYANCE SYNT&X I,II!,IIIED(E! iq Krom A! Advr!.. Srorq priht Linit.d)

CASE I'LOW STATEMEM IOR Tm pf,RrOD EI\DXD ON 3r.t Mrnh, 20rz

2) Pr.vious p.riodh figurB h!l! &.n rc8roup€d wh.r6w coruid€rcd ncccssary.

VANCE SYNTEX LIMITED.

,.NFDIN No.r 06718711

M. No.r 13{)28

Drrd 304$2017

^. CASII FLOW FROM OPERATINC

ACTIVITIES

Nd Proft b.foe tax

AdjutDc.t foi r

D.prcciltid ed Anonizrjon Exp

Pnor P.riod Difcrcd Tax

Pnor Pdiod D.prcciltion

Op.nrhg prcfit b.forc vo*i.g c.Ditrt

AdjErd.nt for :

Ch.ig.r in Wo*irlg Clpird :

Adjwh.nt in provilion for cr.tuityIncrcac / @corc&) in tons T.m

Incr..a,. / (D€.r.e) in Trad€ prr€blc

Inor.r!. / (D€cr€sf€) in Orhcr CurerrUabililie.Incr.alc / (Dccr.!s.) in Shon T.mProvision Otlcl ttln IT provbion

(hcreare) / driE $ in lovdrori.t

oncr.asc) / d.cro.!. in D.po6il0ncr.a!.) / D.cr.i!c in Shon lerm I,oan! &

0iff.t!.YD*a. in Non Cu@nt Ass.tg

(IMc&) / D.crc4 in T6dc Re.iEbl.

Cah G.rqrt.d froE OpdrtionNcllncon.-t x p.id / p.ovidcd

N.t Crrt rby fron ODd.ii.8 Activiai.,

B. CASH TIOW TROM INVESTINCACTMTIES I

Cspilsl Exp.nditu! on Fi<cd A$ci!

Prorit 6n Currcncy hcdsing

N.t Cub now frcd(u.d) h rnvarirs

C. CASH trI,o TROM FINANCINGACTMTIAS:

Procccds fiom Issuo ofSh'rc Clpiral

P@..& tom S€u.ity Prcmium

Procreds fton lrng Tem Booowings

Sho.t T.rln BorcwiosFi.mci6l Cost DaidN.t C.rb rbw trcnr'(lrid) i! fior.cirg

Ndl h.r€3..4d..rc&) i! C.'[ & C.rbF4uiv.ha6+B+C)C.rb & Crrt Equirlldlt..t th.b.sin.irs olthc p.rlod

Crlh & C.rt Equi*al.atr .t !b. .{d ol

54At5

15,605,589

(1.337,2/5\

4,780,894

(23,544,02t\

7A,tn

(8344,622'

(2,174664)

(27,385,42rt

4.359.801

55,5t8,460

71499,449

15,980,989

ffi| 2r,5t9,t43t:

(2,t54651)

5E,633,603

7rJ66586

3l I,lt07

17,594,431

7U,412

6n6,246(?,52a,t36)

(tJ45,954)

(286,151)

o,076,680)

(n,266'994\

a? 809 2311 /6' ftX.ao\

13,132,98:

JJ.77&291

E-696255

25,tl8tJXt6

(25,867,032)

E.t59.88i

7.461.563

____J,498A

0 r,364190)

215t 651

lz.l.cts,t5s

21,000,0@

4200,000

n9t1,6y(3,139,757)

B9-621-473\ 5.350 42s

(9,21r,$t

13,5?2,9E9

34,466,514

(39.249.11t) 9 r 90 452

5350,4?5

1907302

l3t4aJ9t

21.153.093

9,190,45'

1,477A3i

13,768,55r

A. p.r our r.port ot.v.n drt

For, Y, J. Anir & Co.

Chlrt r.d Accounlr.t!

ca.