Beryl Drugs Limited (The Company) is a public Limited Company Domiciled in India and Its Shares are listed On Stock Exchange. The Company is principally Engaged in Manufacturing of Bulk Drugs.

NOTE NO. 1

BASIS OF PREPARATION

The financial statements of the company have been prepared in accordance with generally accepted accounting principle in India (India GAAP). The company has prepared these financial statement to comply with all material respect with the accounting standard notified under section 133 of the companies act 2013,Read with rule 7 of Companies (Accounts) Rules,2014. The Financial Statement has been prepared under the Historical cost convention on the Accrual Basis Except in case of the Asset which has been recorded on fair value and Assets for Which Provision for Impairment is Made. The accounting policy have been consistently applied by the company and are consistent with those used in the Previous Year.

NOTE NO. 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICY

NOTE 3

Loan of HDFC car loan with Interest payable @ 10.25 % p.a repayable in 36 equal installment over a Period of 3 years commencing from 05/06/2014.

NOTE 4

Defined Benefit Plan - The employees' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on acturial valuation using the Project Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

National Bank is Secured Against Hypothecation Of Stock Of Raw Material, Packaging Material, Finished Goods Consumable Stores and Spares, Bills, receivables and and spares, bills, book debts & all other movable both present & future) ( The Cash Credit Is Repayable On Demand) And Interest Rate Is 14.25% p.a.)

NOTE 5

Provision for Wealth Tax of Rs.112368.90/-(PY 114284.40) has been made during the year, however the company has not paid the wealth tax of financial year 2012-13 and 2013-14.

NOTE 6

Liabilities of Entry tax, service tax and excise have been provided as per Return filed. However additional liability if any arising on assessment shall be provided for on completion of assessment.

NOTE 7

Defined Benefit Plan: Refer to note 7.1 NOTE - 11.3

Excise Duty is made on the closing Stock of finished goods as per the Guidance Notes on Accounting for Excise Duty.

NOTE 8

Company has not availed the Cenvat benefit on capital goods purchased during the year.

Expenses relating to construction of building capitalised during the year and included in capital work in progress.

NOTE 9

Pursuant to the enactment of companies act 2013,the company has applied the estimated useful lives as specified in schedule II. Accordingly the unamortised carrying value is being depriciated/amortised over remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st april 2014 Have been adjusted From the opening balance of Profit & Loss Account amounting to Rs.93750.42/-

NOTE 10

Investment in Equity Shares is stated at cost. Company has made the investment in Beryl Securities Ltd., a Company under the same management.

NOTE 11

The Company has measured the deferred tax in accordance with AS-22 issued by the ICAI and amount recognized in profit & loss account.

NOTE 12

The company has given advances amounting to Rs.7931216/- (P.Y. Rs. 9719535/-) including interest free loan of Rs.21,31,216/- out of their spare funds to firm, companies and parties without obtaining registration under section 45I of the RBI Act, however same is not applied for because advances of said fund is 12.21.% (Approx.) of the total funds (Share capital and Reserve and Surplus) of the company.

NOTE 13

Loans & Advances includes Rs.643222.00 (P.Y. Rs. 668222.00) over due from other parties on account of advance against capital assets. Further no provision for sticky advances has been made due to management in hope that the advances will be settled through full recovery thereof, in due course.

NOTE 14

Due from customer Rs. 36414.00 (PY Rs. 36414.00) considered doubtful but no provision for doubtful debt has been made in pursuance of follow up with said customer(s).

NOTE 15

In the opinion of the Board of Directors the current assets are expected to be realized in, within 12 months from the reporting date or in the company's normal operating cycle and have value on realization in the ordinary courses of business at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

NOTE 16

Sales are Inclusive of Freight and Octroi Claimed In the Sales Invoice but net of Excise Duty and Sales return.

NOTE 17

The above rent received of Rs.48000/- is pertaining to rent received from the Beryl Securities Ltd., a company under the same management

NOTE 18

The Company availed Cenvat benefit on purchase of material and netted from the cost of these goods/ material. Cenvat is adjusted against excise duty to the extent utilized against clearance of the material.

NOTE 19

Particulars of employees who are in receipt of remuneration aggregating to more than Rs.60,00,000.00 per annum or Rs.5,00,000.00 p.m. are not given since there is no such employees.

NOTE 20

Stores and spares, coal and consumable chemical are charged to profit and loss account as and when these are incurred NOTE-28.2 Travelling, Conveyance expenses also included expenditure incurred by the Directors of the Company for the purpose of business of the Company.

21. Previous year's figures have been regrouped and re-casted, re-arranged wherever necessary to make them comparable with those of the current year

22. Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosure are required to be made relating to Micro Small and Medium Enterprises (SME). The company is in process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is not readily available, no disclosure have been made in the accounting, however in view of the management the amount due to the suppliers are paid within the mutually agreed credit period and therefore there will not be any interest that may be payable in accordance with the provision of the Act

23. The Company has filed its return of the income up to Assessment Year 2014-2015 and the Income Tax Assessment of the Company has been completed upto Assessment Year 2013-14.

24. Contingent Liability not provided	        AS ON	      AS ON
                                              2014-2015	    2013-2014

a. Commercial Tax Authority	              82865.00	    82865.00

(Against Entry Tax 12-13)	             320624.00	         Nil

(Against M.P Vat Tax 11-12)	                   Nil	   229617.00

(Against M.P Vat Tax 12-13)	            1142415.00	         Nil

(Against CST 12-13)	                      12937.00	         Nil

c. Central excise department has filed SLP before Hon'ble Supreme Court against appeal allowed by Hon'ble M.P. High Court Bench, Indore in connection of non liability of excise on the company product. Nevertheless, company is in hope of dismissal of appeal of the department hence no provision is made in the account, involving a Total Amount of Rs.8825970/-

d. The Company have not made Provision in Books of Accounts for Demand raised by Various Tax Authorities including Rs.320624 (Entry Tax 2012-13), Rs.1142415(Vat Tax 2012-13),Rs.12937 (CST 2012-13).Thus the Profits are overstated by the Aforementioned Amounts. In respect of above items future cash outflows if any are determinable only on receipt of judgment pending at various forum/ authority.

25. Interest received include Rs. 798531/- from loan given to Malwa real estate development pvt. Ltd., Rs. NIL from Radheshwari Developers Pvt. ltd.

26. The company had a trading division which has been disposed of pursuant to a single plan during the current year, but said trading division does not qualify as a business component Hence the related disclosure as prescribed in AS-24 -"Discontinuing operation" are not provided.

27. The Company is liable to pay Tax collected on source for scrap sale made during the Year, but as per management's contention, they are not liable for TCS as they will receive form 27 C from the Purchaser of scrap.

28. a) The company has bought land in Pithampur under lease agreement, which is in the nature of operating lease. Required disclosure as per AS - 19 "Leases" are as follow:

b) General description of lease term:

Assets are taken on lease for a period of 30 years.

ii) As leaser

The company has given own office to Beryl Securities Limited on monthly rent. The rent agreement for 11 months are cancelable and are generally renewable in mutual consent or mutually agreeable terms. The rental income on such is included in other income.

29. Company has given Inter corporate advances to Malwa real estate development pvt. Ltd. of Rs. 53,00,000/ - and to Radheshwari Developers Pvt. Ltd. of Rs. 10,00,000/- which are outstanding since many years. Moreover out of above advances, Company has not charged any interest from Radheshwari Developers Pvt. Ltd.

30. The company has received state capital subsidy with reference to the total investment in an undertaking, thus the government grants are in the nature of Promoters' contribution as Per AS - 12- "GOVERNMENT GRANTS" and hence credited to Capital Subsidy Account.

31. Working capital facilities are secured by hypothecation of stock of raw material, packing material and finished goods, stores and spares not relating to plant and machinery (consumable stores & spares) bills, receivables and book debts and all other movable both present and future. These are further secured by personal guarantee of the Managing Director and Whole Time Director of the Company.

32. Company has credited a sum of Rs. 35830.00/-.( P.Y Rs 22630.00 /)- under the head "Receipt from Government Authority pending for reconciliation" which is received against sale to government authorities (given under the head- Advance Received from Customer) but the same amount is still pending from earlier year for allocation & reconciliation for want of their information.

33. Disclosure in accordance with the Accounting Standard- (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India and notified under the Companies Accounting Standards Rules, 2006 the name of the related parties and the relevant disclosure is as under:

a) Name of the related party and description of relationship.

i) Key Management personnel

1) Mr. Sanjay Sethi , Managing Director

2) Mr. Ashish Baraskar , CFO

3) Mrs. Neha Sharma , CS

ii) Companies / Entities under the control of key management personnel 1) M/s Beryl Securities Ltd.

iii) Relative of director

1) Sangita Sethi

2) Soniya Sethi

The following transactions were carried out with the related parties in the ordinary course of business.

34. The Company has not given any advance (s) in the nature of loan to any party as defined in clause 32 of the listing agreement. As per the company policy interest free loan given to employees are not considered under this clause. Loan and Advance in the nature of loans to associates/employees disclosure pursuant to Clause 32 of the listing agreement is as under :

35. Balance of all Debtors/ Creditors/ lenders and borrowers are subject to confirmation.

36. The company has appointed women director with effect from 1/10/2014 as Per Section 149(1) of the Companies Act 2013.

37. Provision for current Income tax has been made in accordance with the provision of Income tax act and has been shown net off payment of advance tax Rs. 3.75 Lacs and TDS Rs. 176820/- made during the year.

38. In the opinion of management all current asset, loans and advances have value of realization atleast equal to the extent considered good and stated in the balance sheet.

39. Sitting fees has been waived by all the director's of the company.

40. Prior period items includes Rs.350803 on account of coal purchase as prior period expense .

41. Company has made the investment amounting to Rs.67.84 lacs (P.Y. Rs.67.84 lacs) in Beryl Securities Ltd., a Company under the same management.

42. The Books of Account is showing CST Payable Amounting to Rs. 217283.94/- because Government sale of Second and Third Quarter has not been posted in return & the company is also facing problem in revising the same.

43. Company has discontinued the trading division in during the year whose shareholder approval is awaited.

44. Pursuant to companies act 2013 (the Act) becoming effective from 1st April 2014, The company has reworked depreciation with reference to the estimated useful life's of fixed Assets prescribed under schedule II to the Act. As a result the charge for depreciation is higher by Rs. 1966394.20/- for the year ended 31st march 2015.pursuant to the transitional provision prescribed in schedule II to the companies act 2013, The company has fully depreciated the carrying value of assets net of residual value where the remaining useful life of the assets was determined to be NIL as on 1st April 2014 and has adjusted an amount of Rs. 93750.42/- against the opening surplus balance in the Statement of Profit & Loss under Reserve & Surplus.