THE METAL POWDER COMPANY LIMITED

Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
THE METAL POWDER COMPANY
Name of company LIMITED
Corporate identity number U28910TN1961PLC004478
Permanent account number of entity AAACM4587K
113,VELAYUTHAM
ROADSIVAKASI. ,
Address of registered office of company SIVAKASI. , Sivakasi ,
TAMILNADU , INDIA - 626123
Type of industry Power
Date of board meeting when final accounts were approved 19/08/2023
Date of start of reporting period 01/04/2022 01/04/2021
Date of end of reporting period 31/03/2023 31/03/2022
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other relevant
Yes
books and papers in electronic form

SURVEY NO 89
Complete postal address of place of maintenance of computer MARAVANKULAM,
servers (storing accounting data) TIRUMANGALAM, Tamil
Nadu, India, 625706

Name of city of place of maintenance of computer servers (storing

Chennai
accounting data)

Name of state/ union territory of place of maintenance of

Tamil Nadu
computer servers (storing accounting data)

Pin code of place of maintenance of computer servers (storing

625706
accounting data)

Name of district of place of maintenance of computer servers

TIRUMANGALAM
(storing accounting data)

ISO country code of place of maintenance of computer servers

625706
(storing accounting data)

Name of country of place of maintenance of computer servers

india
(storing accounting data)

Phone (with STD/ ISD code) of place of maintenance of computer

8742919146
servers (storing accounting data)

Disclosure of principal product or services [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Types of principal product or services [Axis] 1
01/04/2022
to
31/03/2023
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 7603
ALUMINIUM
Description of product or service category POWDERS AND
FLAKES
Turnover of product or service category 58,939
Highest turnover contributing product or service (ITC 8 digit) code 76031010
Description of product or service aluminium powder
Turnover of highest contributing product or service 58,939
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[700600] Disclosures - Directors report

Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Product/service 1
Principal business activities of company [Axis]
[Member]
01/04/2022
to
31/03/2023
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
non ferrous metal
Name of main product/service powder and paste
non ferrous metal
Description of main product/service powder and paste
and articles thereof
NIC code of product/service 25910
Percentage to total turnover of company 10.00%

Details regarding company secretary qualification or observation or other remarks in secretarial audit report [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Company secretary qualification or observation or other remarks in secretarial audit report [Axis] 1
01/04/2022
to
31/03/2023
Details regarding company secretary qualification or observation or other remarks in secretarial audit
report [Abstract]
Details regarding company secretary qualification or observation or other remarks in secretarial audit
report [LineItems]
Company secretary qualification or observation or other remarks in secretarial audit report FGJGJG
Directors' comment on company secretary qualification or observation or other remarks in secretarial
GHGYHT
audit report

Particulars of holding, subsidiary and associate companies [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Particulars of companies [Axis] 1 2 3 4
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Particulars of holding, subsidiary
and associate
companies [Abstract]
Particulars of holding, subsidiary
and associate
companies [LineItems]
NALCO METAL MDL INDUSTRIES PANDIAN CHEMICALS ALUMINIUM POWDER
Name of company PRODUCTS LTD LIMITED LIMITED COMPANY LIMITED
Country of incorporation of
INDIA INDIA INDIA INDIA
company
CIN of company U28100TN1974PLC006569 U15549TN1989PLC017848 U24297TN1972PLC006245 U27203TN1983PLC009916
Applicable section Section 129 (3) Section 129 (3) Section 129 (3) Section 129 (3)

Details of directors signing board report [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing board report [Axis] 1 2 3 4
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director ANNAMALAI VAIRAPRAKASAM GRAHADURAI DHANASEKARAPANDIAN
Last name of director SANKARALINGAM KODISWARAN ABIRUBEN SINGARAVEL
Designation of director Director Director Director Director
Director identification number of director 00001381 00001872 00006847 00006862
Date of signing board report 15/08/2023 15/08/2023 15/08/2023 15/08/2023

2
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of directors signing board report [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing board report [Axis] 5 6 7 8
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director ARUNACHALAM RAVINDRAN NAGARAJAN
Middle name of director YENNARKAY NATARAJAN
RAVINDRAN
Last name of director TENZING
RAJARATNAM
SELVARATHNAM

Designation of director Director Director Director Director

Director identification number of director 00014412 00020509 00031076 00121494
Date of signing board report 15/08/2023 15/08/2023 15/08/2023 15/08/2023

Details of directors signing board report [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing board report [Axis] 9 10 11 12
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director KALIAPPAN CHELLADURAI SUGUNA
GUNASINGH AYYANADAR
Last name of director BALAKRISHNAN
PRITHIVIRAJ
RAVICHANDRAN
RAMAMURTHY
Designation of director Director Director Director Director
Director identification number of director 00144462 00168538 00170190 00374398
Date of signing board report 15/08/2023 15/08/2023 15/08/2023 15/08/2023

Details of contracts/arrangements/transactions not at arm's length basis [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Contracts/arrangements/transactions not at arm's length basis [Axis] 1 2 3
01/04/2022 01/04/2022 01/04/2022
to to to
31/03/2023 31/03/2023 31/03/2023
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Details of contracts/arrangements/transactions not at arm's length
basis [LineItems]
Ayyan Fireworks
Standard Fireworks Meenakshi Match
Name of related party Private Limited
Factory Private
Industries
Limited
Director other than Director other than
an independent an independent
director or key director or key
managerial managerial
Fellow Subsidiary
Nature of related party relationship company
personnel of the personnel of the
holding company or holding company or
his relative with his relative with
reference to a reference to a
company company
Description of nature of contracts/arrangements/transactions
FURNITURE GOODS RAW MATERIALS
with related party
Duration of contracts/arrangements/transactions with related
2MONTHS 5MONTHS 8 MONTH
party
Dates of approval of contracts/arrangements/transactions with
25/05/2023 27/05/2023 12/06/2023
related party by board

3
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Material contracts/arrangements/transactions at arm's length basis [Axis] 1 2 3
01/04/2022 01/04/2022 01/04/2022
to to to
31/03/2023 31/03/2023 31/03/2023
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Details of material contracts/arrangements/transactions at arm's
length basis [LineItems]
Ayyan Fireworks
Standard Fireworks Meenakshi Match
Name of related party Private Limited
Factory Private
Industries
Limited
Director other than Director other than Director other than
an independent an independent an independent
director or key director or key director or key
managerial managerial managerial
Nature of related party relationship personnel of the personnel of the personnel of the
holding company or holding company or holding company or
his relative with his relative with his relative with
reference to a reference to a reference to a
company company company
Description of nature of material
furniture goods
contracts/arrangements/transactions with related party
Duration of material contracts/arrangements/transactions with
5 month 8months
related party

Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Axis] 1
01/04/2022
to
31/03/2023
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report
[Abstract]
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report
[LineItems]
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report HBVHUICYT
Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report YIOFYUIF7

4
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022
to
31/03/2023
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair NOT APPLICABLE
Disclosure relating to amounts if any which is proposed to carry to any Textual information (2)
reserves [See below]
Textual information (3)
Disclosures relating to amount recommended to be paid as dividend [See below]
Details regarding energy conservation NOT APPLICABLE
Details regarding technology absorption NOT APPLICABLE
Textual information (4)
Details regarding foreign exchange earnings and outgo [See below]
Textual information (5)
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period
GRSTWRTRT
affecting financial position of company
Textual information (6)
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (7)
188(1) [TextBlock] [See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
Yes
length basis
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
Yes
arm's length basis
Disclosure of extract of annual return as provided under section 92(3)
NOT APPLICABLE
[TextBlock]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Particulars of holding, subsidiary and associate companies [Abstract]
Details of shareholding pattern of top 10 shareholders [Abstract]
Disclosure of statement on declaration given by independent directors Textual information (8)
under section 149(6) [TextBlock] [See below]
Textual information (9)
Reappointment of independent directors as per section 149(10) [TextBlock] [See below]
Disclosure for companies covered under section 178(1) on
Textual information (10)
directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Details regarding auditors' qualification(s), reservation(s) adverse
remark(s) in auditors' report [Abstract]
Details regarding company secretary qualification or observation or
other remarks in secretarial audit report [Abstract]
Disclosure of statement on development and implementation of risk Textual information (11)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
Textual information (12)
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Textual information (13)
Disclosure of financial summary or highlights [TextBlock] [See below]

•
class="header5">Change
In The Nature of
Business: There is no
Disclosure of change in nature of business [TextBlock] change in the business

natureofthecompany.

Details of directors or key managerial personnels who were Textual information (14)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during NOT APPLICABLE
year [TextBlock]
Details relating to deposits covered under chapter v of companies act
NOT APPLICABLE
[TextBlock]
Details of deposits which are not in compliance with requirements
NOT APPLICABLE
of chapter v of act [TextBlock]

5
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of significant and material orders passed by

regulators or courts or tribunals impacting going concern NOT APPLICABLE
status and company’s operations in future [TextBlock]
Details regarding adequacy of internal financial controls with
NOT APPLICABLE
reference to financial statements [TextBlock]
Disclosure of appointment and remuneration of director or Textual information (15)
managerial personnel if any, in the financial year [TextBlock] [See below]
Details of remuneration of director or managerial personnel [Abstract]
Number of meetings of board [pure] 2
Details of signatories of board report [Abstract]
Name of director signing board report [Abstract]

6
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

To

The Members

Your Directors have pleasure in presenting the Sixty First Annual Report on the business and operations of the Company
along with the Audited Financial statements for the year ended 31st March 2023.

1. Financial Results: The summarized results for the year ended 31st March, 2023 as compared to the
previous year are given below:

(? in lakhs)

Particulars 2022-23 2021-22

Net Profit as per Statement of Profit and Loss 8821 7386

Add : Amount brought forward from previous year 16412 12002

25233 19388

Less : Amount provided for Income-tax:

Current Tax 2294 1863

Deferred Tax Asset / (Liability) -97 -92

Re-measurement of Investments 9 10

Amount available for appropriation 23045 17627

Less : Dividend-paid during the year 1215 1215

7
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

21830 16412

Less : Amount Transferred to Reserves NIL NIL

Balance Carried over 21830 16412

The Company’s working results continued to be satisfactory during the year 2022-2023.

1. Share Capital: The paid-up Share Capital as on March 31, 2023 stood at ?2430 Lakhs. During the
financial year under review, the Company has not made any fresh issue of Shares.

2. Dividend: The Company has already paid interim dividend of ?35/- per Equity Share in January 2023. The
Directors now recommend a final dividend of ?15/-per Equity Share which will be paid after approval at the Annual
General Meeting. The total Dividend of ? 50/- per Equity Share for the Financial Year 2022-23 would absorb
?1215/-Lakhs.

3. Subsidiary Companies: Statement containing salient features of the financial Statement of

Subsidiaries, Nalco Metal Products Limited & MDL Industries Limited and Associate Companies, Aluminium Powder
Company Limited and Pandian Chemicals Limited, as required pursuant to Section 129 (3) read with Rule 8(1) of the
Companies (Accounts) Rules 2014 has been annexed herewith in Form AOC-1 as Annexure 1.

4. Expansion: The Company is continuously expanding its production units in multiple locations.

5. Consolidated Financial Statement: The audited Consolidated Financial Statement of the

Company with its Subsidiaries, Nalco Metal Products Limited & MDL Industries Limited and its Associate Companies,
Aluminium Powder Company Limited and Pandian Chemicals Limited for the year ended 31-March-2023 is provided with
the Annual Report.

6. Copy of Annual Return: The Copy of Annual Return is prepared in Form MGT-7 as per the provisions of Section 92
(3) of the Companies Act, 2013 read with Rule 12(1) of Companies (Management and Administration) Rules, 2014 and
the same is available at Company’s Website [Link] .

7. Number of Meetings of The Board of Directors: During the year ended 31-March-2023 Twelve Board Meetings
were held. The attendance of the Directors are as follows:

8
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (2)

Disclosure relating to amounts if any which is proposed to carry to any reserves

Exposuretocreditrisk :
Thecompanyextendscredittoitscustomerondiscretebasis. Whilethemajorsalesis done on "Advance or Cash & Carry mode", credit limit has
been extended to meet the trade demand, purely based on customer credit worthiness. The Credit exposure is in
[Link] creditriskisverylessforthecompany.

• Liquidityrisk

LiquidityriskreferstotheriskthattheCompanycannotmeetitsfinancialobligationsThe objective of liquidity risk management is to maintain

sufficient liquidity and ensure that [Link] maintaining adequate
reserves, banking facilities and borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity
[Link] liquidity risk management framework for it's short term,
medium term and long term fundingrequirement.

Textual information (3)

Disclosures relating to amount recommended to be paid as dividend

• Dividend:The Company has already paid interim dividend of?35/- perEquity Share in
January 2023. The Directors now recommend a final dividend of?15/-per Equity Share
which will be paid after approval at the Annual General Meeting. The total Dividend of?
50/- per Equity Share for the Financial Year 2022-23would absorb ?1215/-Lakhs.

9
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (4)

Details regarding foreign exchange earnings and outgo

The conservation of energy, technology, absorption, foreign exchange earnings and

outgo pursuant to the provisions of Section 134(3)(m) of the Companies Act, 2013 read
with the Companies (Accounts) Rules, 2014:

A. Conservation of Energy:

The Company hascompleted Energy Audit in process and electrical installations and implementing their suggestions in the following aspects
to save energy and save earth.

• The steps taken or impact on conservation of energy:

Very old electrical equipments are being replaced by new energy efficient ones.

• The steps taken by the Company for utilizing alternate sources of energy

The Company has installedWind Turbine Generators and Solar Power System for utilizing the sources ofGreen Energy.

• The capital investment on energy conservation equipments

Very old Transformers and switch gears are being replaced by new energy efficient transformers.

• Technology Absorption:

• The efforts made towards technology absorption:

Continuous efforts are made to improve the quality of the products. The in-house Research and Development facility of the company has also

10
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

got renewal of recognition from Department of Scientific & Industrial Research got renewal of recognition from Department of Scientific &
Industrial (DSIR), Ministry of Science & Technology, Governmentof India which is valid upto 31.03.2026.

Steps are taken to introduce new grades to meet international competition.

• The
benefits derived like product improvement, cost reduction, product development or
import substitution:

Improvement in quality of the product will reduce imports of similar product into India.

• Details oftechnology imported during the past 3 years:

International Technology is imported to further enhance the quality of copper alloy powders.

• The expenditure incurred on Research and Development:

(? .In Lakhs)

Revenue Expenditure 185.90

Capital Expenditure -

TOTAL 185.90

C. Foreign Exchange Earnings and Out go:

• The Foreign Exchange earned in terms of actual inflows during the year and the Foreign Exchange outgo during the year in terms of actual
outflows:

11
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(?. In Lakhs)

Particulars 31 st March 2023 31 st March 2022

Used 1971 1732

Earned 10709 11310

For and on behalf of the Board of Directors

A. RAMAMURTHY S. ANNAMALAI

Maravankulam (DIN 00374398) (DIN 00001381)

19-August, 2023 Directors

12
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (5)

Disclosures in director’s responsibility statement

• Statement: Pursuant to Director’s Responsibility the provisions contained in

sub-sections (3)(c) and (5) of section 134 of the Companies Act, 2013, the Directors
ofyour Company, based on the representation received from the Operating
Management and after due enquiry confirm the following:

• In the preparation of the annual accounts for the Financial Year 2022-23, the applicable Indian accounting standards have been followed
along with proper explanation relating to material departures, if any;

• The Directors have selected such accounting policies and applied consistently, and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year (i.e. March 31,2023) and of
the profit and loss of the Company for that period;

• The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions
of the Companies Act, 2013 for safeguarding the assets of the Company, for preventing and detecting fraud and other irregularities;

• The Directors have prepared the annual accounts for the Financial Year ended March 31, 2023 on a going concern basis;

• The Directors have laid down internal financial controls to be followed by the Company and such internal financial controls are adequate
and operating effectively; and

• The Directors have devised proper systems to ensure compliance of all laws applicable to the Company and such systems are adequate and
operating effectively.

Textual information (6)

Particulars of loans guarantee investment under section 186 [Text Block]

Accordingtotheinformationandexplanationsgiventousandonthebasisofour
examinationoftherecordsoftheCompany,theCompanyhasneithermadeany
investmentsnorhasitgivenloansorprovidedguaranteeorsecurityasspecified
underSection185oftheCompaniesAct,2013(“theAct”)andtheCompanyhas notprovidedanysecurityasspecified under Section 186
[Link],in our opinion,theCompanyhascompliedwiththeprovisionsofSection186oftheAct
inrelationtoloansgiven,guaranteesprovidedandinvestmentsmade

13
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (7)

Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
Details of contracts or arrangements or transactions not at Arm’s length basis:

a) Name(s) of the related party & nature of relationship NIL

b) Nature of contracts/arrangements/transaction NIL

c) Duration of the contracts/arrangements/transaction NIL

d) Salient terms of the contracts or arrangements or transaction

including the value, if any, NIL

e) Justification for entering into such contracts or arrangements

or transactions NIL

f) Date of approval by the Board. NIL

g) Amount paid as advances, if any, NIL

h) Date on which the special resolution was passed in General

meeting as required under first proviso to section 188. NIL

• Details of contracts or arrangements or transactions at Arm’s length basis:

• Name(s) of the related party & nature of relationship

• Nature of contracts/arrangements/transaction

14
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• Duration of the contracts/arrangements/transaction

• Salient terms of the contracts or arrangements or transaction including value, if any,

• Date of approval by the Board.

• Amount paid as advances, if any,

All the transactions of the company are at Arm’s Length Basis and the Details of the transactions are included as Note No 35under notes to
financial Statements.

For and on behalf of the Board of Directors

A. RAMAMURTHY S. ANNAMALAI

Maravankulam (DIN 00374398) (DIN 00001381)

19-August, 2023 Directors

15
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (8)

Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]

Independent Directors: Sri [Link], Independent Director of the

CompanyretiredasanIndependentDirectorwitheffectfrom15.08.2022oncompletion of his second term of appointment of two consecutive
terms. Subsequently Sri K. Balakrishnan holding DIN: 00144462 was appointed as an Additional Director (Non-
Executive&Independent)ontheBoardoftheCompanyw.e.f.14.11.2022toholdoffice for a period of 3 years, subject to the approval of the
members in the ensuing General Meeting.

Sri [Link] has given Statement of Declaration under Section 149(7) of The
CompaniesAct,2013thathehasmetthecriteriaofIndependenceasprovidedinSection 149(6) ofThe CompaniesAct 2013.

TheDeclarationshavebeentakenonrecord.

Independent Directors met once during the year under review in compliance with the provisions ofThe CompaniesAct, 2013.

• DisclosureofInformationAsPerRule5(2)ofCompanies(Appointment And Remuneration of

Managerial Personnel) Rules, 2014:
The details of the employee of the Company having a remuneration of Rs.8,50,000/-
(EightLakhsandFiftyThousand)permonthorRs.1,02,00,000/-(oneHundredandTwo Lakhs) per year is given below..

Name of the Employee Designationoftheemployee; Remuneration received;

Natureofemployment,whethercontractualor otherwise;

Qualificationsandexperienceoftheemployee; Date of commencement of employment;

Theageofsuchemployee;

Thelastemploymentheldbysuchemployee before joining the company;

The percentage of equity shares held by the employeeinthecompanywithinthemeaningof clause (iii) of sub-rule (2) above; and

Whetheranysuchemployeeisarelativeofany director or manager of the company and if so, name of such director or manager:

[Link]

GrossSalaryRs.144.57Lakhsfor the FY 2022-23

Regular

16
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

B.E,28years 14/07/2016

51years

JasmineCEPvtLtd Nil

No

17
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (9)

Reappointment of independent directors as per section 149(10) [Text Block]

• Appointment of Sri K. Balakrishnan (having DIN 00144462)as Independent

DirectoroftheCompanywhoisnotliabletoretirebyrotation
To approve the appointment of Sri K. Balakrishnan (holding DIN 00144462) who was appointed as an Independent Director on the Board of
the Company, under Section 149, read with the Rules made there under and Schedule IV of the
CompaniesAct,2013andinthatbehalf,toconsiderandifthoughtfittopasswithor
withoutmodificationthefollowingresolution,asanOrdinaryResolution:

“ RESOLVEDTHAT pursuanttotheprovisionsofSection149readwithScheduleIV
andallotherapplicableprovisionsoftheCompaniesAct,2013(“theAct”)andthe
Rulesmadethereunder(includinganymodification(s)orre-enactmentthereof),the appointment of Sri K. Balakrishnan (holding DIN 00144462),
as an Independent Director of the Company, to hold office for a period of 3 years with effect from 14.11.2022 be and is hereby approved.”

Maravankulam 19-August,2023

ByOrderofthe Board

[Link] Company Secretary

(MembershipNo.A55463)

Notes :[Link] entitled to attend and vote at the meeting is entitled to appoint a
proxytoattendandvotethereatinsteadofhimselfandsuchproxyneednotbe amemberoftheCompany.

• The instrument appointing a proxy should be deposited at the Registered

OfficeoftheCompanynotlessthan48hoursbeforethecommencementofthe meeting.
• Apersoncanactasaproxyonbehalfofmembersnotexceedingfifty(50)and holdingintheaggregatenotmorethantenpercentofthetotalsharecapitalof
theCompany.
• A member holding more than ten percent of the total share capital of the
Companymayappointasinglepersonasaproxyandsuchproxyshallnotact asaproxyforanyotherpersonorshareholder.
• Corporate members intending to send their authorised representatives to attend the meeting are requested to send a certified copy of the
Board resolutionauthorisingtheirrepresentativestoattendthemeetingandvoteon theirbehalfpursuanttoSection113ofTheCompaniesAct,2013.
• TheShareholdersarerequestedtonotify/updatetheirphonenumber,Email
ID,PAN,addressesandBankAccountstofacilitateelectroniccommunication/ payment .
• DividendRelatedInformation:
• SubjecttoapprovaloftheMembersattheAGM,thedividendwillbepaidtothe
MemberswhosenamesappearontheCompany'sRegisterofMembersason theRecordDate,andinrespectofthesharesheldindematerialisedmode,to
the Members whose names are furnished by National Securities Depository
LimitedandCentralDepositoryServices(India)Limitedasbeneficialowners asonthatdate.
• Shareholders are requested to update their phone number and Email ID for ElectronicCommunication.
• Payment of dividend shall be made through electronic mode to the [Link]
despatched to the registered address of the shareholders who have not updated(orprovidedincompletedetails)theirbankaccountdetails.
• Shareholders are requested to register / update their complete bankdetails:·
• with their Depository Participant(s) with whom they maintain their demat accounts if shares are held in dematerialised mode by submitting
the requisite documents, in a form prescribed by their DepositoryParticipantand
• withtheCompanybyemailingatinfo@[Link]

ifsharesareheldinphysicalmode,bysubmitting

18
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• scanned copy of the signed request letter which shall contain shareholder's name, folio number, bank details (Bank account
number,BankandBranchNameandaddress,IFSC,MICRdetails), cancelledchequeleaf.
• self-attestedcopyofthePANcardmayalsoberequiredtobe furnished.
• Pursuant to the amendments introduced by the Finance Act, 2020 the Company will be required to withhold taxes at the prescribed rates on
the dividendpaidtoitsshareholdersw.e.f.1stApril2020.
• No tax will be deducted on payment of dividend to the resident individual
shareholdersiftheamountoftotaldividendpaiddoesnotexceedRs.5,000/-.
• TDS is required tobedeductedattherateof10%undersection194oftheAct,if theamountoftotaldividendexceedsRs.5,000/-
• TDS athigher ratewill be applicable (20% under section 206AA of the Act) if the PAN of the members are not made available to the
Company Database. No claimshalllieagainsttheCompanyforsuchtaxesdeducted.
• TDS athigherRatewillbeapplicable(20%underSection206ABoftheIncome TaxAct,1961)if
• theShareholderhasnotfiledIncomeTaxReturnsforthelast2financial Yearsand
• theaggregateamountofTDSandTCSisRs.50,000ormoreineachof the2previousfinancialyears.
• Inthe event of any income tax demand (including interest, Penalty, etc) arising from any misrepresentation, inaccuracy or omission of
information provided / to be provided by the Shareholder(s), such Shareholder(s) will be responsible to indemnify the Company and also
provide the company with all information/documents and co-operation in any appellate proceedings.
ExplanatoryStatementrelatingtotheSpecialBusinesspursuanttoSection102(1)
ofTheCompaniesAct,2013.

ResolutionNo.8:

AttheBoardMeetingheldon17-June-2023,[Link], Cost Accountant as the Cost Auditor of the Company for

the year 2023-2024 on a remunerationofRs.1,00,000/-plusGoodsandServiceTaxandtravellingandincidental
expenses.PursuanttotheprovisionsofSection148readwiththeCompanies(Auditand
Auditors)Rules,2014,theaforesaidremunerationapprovedbytheBoardofDirectorsis required to be ratified by the Shareholders.

TheOrdinaryResolutionappearingintheNoticeissoughttobepassedforthispurpose.

None of the Directors or the Key Managerial Personnel or their relatives is in any way
concernedorinterested,financiallyorotherwiseinthesaidResolution.

ResolutionNo9:
Based on the recommendation of the Nomination and Remuneration Committee, the
BoardofDirectorsoftheCompanyatitsmeetingheldon15.10.2022,haveappointedSri
KBalakrishnan(holdingDIN:00144462)asan(additional)IndependentDirectorofthe
Companynotliabletoretirebyrotationwitheffectfrom14.11.2022,toholdofficefora period of 3 years subject to consent by the Members of the
Company at the ensuing AnnualGeneralMeeting(“AGM”).TheCompanyhasreceivedadeclarationfrom
SriKBalakrishnanconfirmingthathemeetsthecriteriaofindependenceasprescribed under the Act, Sri K Balakrishnan is also not disqualified
from being appointed as a DirectorintermsofSection164oftheActandhasgivenhisconsenttoactasaDirectorof
[Link],SriKBalakrishnanfulfilstheconditionsforhis
appointmentasanIndependentDirectorasspecifiedintheActandheisindependentof themanagement.

AcopyofthedraftletterofappointmentforIndependentDirectors,settingouttheterms
andconditionsfortheappointmentofIndependentDirectorsisavailableforinspectionby the Members at the registered office of the Company
during business hours on any workingdayupto thedateofthisAnnualGeneralMeeting andisalsoavailableonthe website ofthe [Link]

SriKBalakrishnanisnotrelatedtoanyotherDirectorandKeyManagerialPersonnelof
[Link] of his services as an Independent Director of the Company
and recommends the OrdinaryresolutionassetoutinItemNo.9oftheNoticeforapprovaloftheshareholders. None of the other Directors, Key
Managerial Personnel, and their relatives, are in any way,concernedorinterested,[Link].
9ofthisNoticeisaccordinglycommendedforyourapprovalbytheBoard.

BRIEF RESUME OF Sri [Link]

NAME SriKBalakrishnan

19
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

DIN 00144462

DATEOFBIRTH 25/05/1941

NATIONALITY Indian

DATEOFAPPOINTMENTONTHEBOARD 14.11.2022

EDUCATIONALQUALIFICATION [Link],CAIIB

EXPERIENCEINAREA 40yearsofexperiencein Banking and Financial

NO. OF SHARES HELD Nil

DIRECTORSHIPHELDIN OTHER COMPANIES

Nil

CHAIRMANSHIP/MEMBERSHIP IN OTHER MemberofAuditCommittee Member of Nomination and Remuneration

COMMITTEES Committee

Maravankulam 19-August,2023

ByOrderofthe Board

[Link] Company Secretary

(MembershipNo.A55463)

TheMetalPowderCompanyLimited

FinancialHighlights

20
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

TheMetalPowderCompanyLimited (`in Lakhs)

Particulars/Year 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

TotalIncome 23,221 25,422 25,363 26,687 30,830 32,431 38,520 35,175

Sales* 22,191 23,739 23,728 25,494 29,081 30,986 36,845 33,272

PreTaxProfit 3,637 4,026 3,137 2,570 3,420 3,117 5,503 5,756

ProfitafterTax 2,524 2,855 2,264 1,719 2,359 2,278 4,167 4,030

EarningperShare(Rs) 104 117 93 71 97 94 171 166

DividendPerShare(Rs) 35 35 35 35 35 35 50 50

Share Capital 2,430 2,430 2,430 2,430 2,430 2,430 2,430 2,430

ReservesRetainedEarnings andother
10,945 12,811 14,144 14,885 16,265 17,973 20,675 23,490
Equity

Shareholders'Funds 13,375 15,241 16,574 17,315 18,695 20,403 23,105 25,920

ReturnonEquity(PAT/Shareholders'Funds) 18.87% 18.73% 13.66% 9.93% 12.62% 11.17% 18.04% 15.55%

BookValue/Share 550 627 682 713 769 840 951 1,067

Note: *SalesisnetofExciseDutyandServiceTax;IndASapplicablefrom2021-22

12

**InterimDividendRs.35&ProposedfinalDividendRs.15/-

THEMETALPOWDERCOMPANYLIMITED
RegisteredOffice:113,VelayuthamRoad,Sivakasi-626123.

Ph:8270990007

CIN: U28910TN1961PLC004478

Email:info@[Link].

21
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Directors'Report
ToTheMembers

YourDirectorshavepleasureinpresentingtheSixtyFirstAnnualReportonthebusiness
andoperationsoftheCompanyalongwiththeAuditedFinancialstatementsfortheyear ended31stMarch2023.

• FinancialResults:Thesummarizedresultsfortheyearended31stMarch,2023
ascomparedtothepreviousyeararegivenbelow:

Particulars 2022-23 2021-22

NetProfitasperStatementofProfitandLoss 8821 7386

Add: Amountbroughtforwardfrompreviousyear 16412 12002

25233 19388
Less :AmountprovidedforIncome-tax:

CurrentTax 2294 1863

DeferredTaxAsset/(Liability) -97 -92

RemeasurementofInvestments +9 +10

Amountavailableforappropriation 23045 17627

Less: Dividend-paidduringtheyear 1215 1215

21830 16412

Less: AmountTransferredtoReserves NIL NIL

BalanceCarriedover 21830 16412

TheCompany’sworkingresultscontinuedtobesatisfactoryduringtheyear2022-2023

• ShareCapital:Thepaid-upShareCapitalasonMarch31,2023stoodat`2430
[Link],theCompanyhasnotmadeanyfreshissue

22
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

ofShares.
• Dividend: The Company has already paid interim dividend of `35/- per Equity
[Link]`15/-perEquity
[Link]
of`50/-perEquitySharefortheFinancialYear2022-23wouldabsorb`1215Lakhs.
• SubsidiaryCompanies:Statementcontainingsalientfeaturesofthefinancial
StatementofSubsidiaries,NalcoMetalProductsLimited&MDLIndustriesLimitedand

23
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Associate Companies, Aluminium Powder Company Limited and Pandian Chemicals

Limited, as required pursuant to Section 129 (3) read with Rule 8(1) of the Companies
(Accounts)Rules2014hasbeenannexedherewithinFormAOC-1asAnnexure1.

• Expansion: The Company is continuously expanding its production units in

multiplelocations.
• ConsolidatedFinancialStatement: TheauditedConsolidatedFinancial Statement of the
Company with its Subsidiaries, Nalco Metal Products Limited & MDL Industries Limited
and itsAssociate Companies,Aluminium Powder Company Limited
andPandianChemicalsLimitedfortheyearended31-March-2023isprovidedwiththe
AnnualReport.
• CopyofAnnualReturn:TheCopyofAnnualReturnispreparedinFormMGT-7
aspertheprovisionsofSection92(3)oftheCompaniesAct,2013readwithRule12(1)of
Companies(ManagementandAdministration)Rules,2014andthesameisavailableat
Company’[Link].
• NumberofMeetingsofTheBoardofDirectors:Duringtheyearended31-
March-2023,[Link] follows:

NAMEOFTHE NO. OF BOARD [Link] MEETINGS

DIRECTOR MEETINGSELIGIBLE TOATTEND ATTENDED

[Link] 12 12

[Link] 12 10

[Link] 12 12

[Link] 12 11

[Link] 12 12

[Link] 12 12

[Link] 12 11

[Link] 12 12

[Link] 12 9

24
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[Link] 12 12

[Link] 12 12

[Link] 12 10

[Link] 5 1

• DisclosureofCompany’sPolicyonDirector’s,KeyManagerialPersonnel And Other

Employees Appointment And Remuneration Including Criteria For
DeterminingAttributes,Qualification,IndependenceEtc:TheCompanyhasawell- defined
policy for employment, remuneration and for rewarding excellence in performance for the
workmen, employees and Key Managerial Personnel of the Company.

TheCompanyhasawell-definedpolicyforappointmentofdirectors.

25
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (10)

Disclosure for companies covered under section 178(1) on directors appointment and remuneration including
other matters provided under section 178(3) [Text Block]

• Nominationand Remuneration Committee: At the Beginning of the Year under review,

the Nomination and Remuneration Committee comprised of Sri [Link] (holding DIN
00001381) as Chairman, Sri Yennarkay [Link] (holding DIN 00020509), Sri N.
Nagarajan (holding DIN 00121494) and Smt Suguna
Ravichandran(holdingDIN00170190)asMembersincompliancewiththeProvisionsof
Section178ofTheCompaniesAct,2013.
ThetermofofficeofSriNNagarajanasIndependentDirectoroftheCompanyexpiredon 15thAugust 2022. The Board appointed the Independent
Director Sri K. Balakrishnan (holding DIN 00144462) as member of Nomination and Remuneration Committee with effectfrom18.03.2023

During the year two committee meetings were held on 16-JUL-2022, and15-OCT-
[Link].

NAMEOFTHE MEMBER [Link] ATTENDED

[Link] 2

[Link] 2

[Link] 1

SmtSugunaRavichandran 2

The committee has been empowered and authorised to exercise powers as entrusted under the provisions of Section 178 of the Companies
Act, 2013. Accordingly the CommitteehassetcriteriaforevaluationofPerformanceofDirectorsasfollows(I)Roles
andResponsibilities(II)Objectivity(III)Leadershipandinitiativenessand(IV)Personal
[Link]
setcriteriaandhasnotedtheperformanceofallthedirectorstobesatisfactory.

The Nomination and Remuneration Policy is available in the website of the [Link].

• Composition of the Board:Since the second term of office of Sri N Nagarajan as

Independent Director of the Company expired on 15thAugust 2022, the Board appointed
Sri K. Balakrishnan holding DIN: 00144462 as anAdditional Director
(Non-Executive&Independent)ontheBoardoftheCompanyw.e.f.14.11.2022tohold office for
a period of 3 years, subject to the approval of the members in the ensuing
GeneralMeeting.
[Link](holdingDIN00014412),[Link](holding DIN 00020509), Sri Yennarkay R. Selvarathnam (holding DIN
00031076) and Sri M. Ramalingam(holdingDIN00006836)DirectorsoftheCompanyretirebyrotationatthe
ensuingAnnualGeneralMeetingandbeingeligibleofferthemselvesforre-appointment.

26
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (11)

Disclosure of statement on development and implementation of risk management policy [Text Block]
Government grants are recognised where there is reasonable assurance that the grant will be received and all attachedconditions will be
complied with. When the grant relates to an expense item, it is recognised as income on a systematic basisover the periods that the related
costs, for which it is intended to compensate, are expensed. When the grant relates to an asset,it is recognised along with the Asset and net
asset value is depreciated over the expected useful life of the related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts andreleased to profit or
loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset [Link] annual installments When
loans or similar assistance are provided by governments or related institutions, with an interestrate below the current applicable market rate,
the effect of this favourable interest is regarded as a government grant. The loanor assistance is initially recognised and measured at fair
value and the government grant is measured as the difference betweenthe initial carrying value of the loan and the proceeds received. The
loan is subsequently measured as per the accounting policyapplicable to financial liabilities.

Export benefits in the nature of AdvanceAuthorisationLicense under Foreign Trade Policy are recognised in the Statement of Profit and Loss
when there is no uncertainty in receiving / utilizing the same, taking into consideration the prevailing regulations. Income on account of
purchase & using of Merchandise Exports from India Scheme (MEIS) for payment of Customs Duty are recognized as other Income

27
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (12)

Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]

• CorporateSocial Responsibility Committee: The Corporate Social Responsibility

Committee consists of Sri [Link] (holding DIN 00014412) as Chairman, Sri [Link]
(holding DIN 00006847) and Smt. Suguna Ravichandran (holding DIN 00170190 ) who
was appointed in the place of Sri N. Nagarajan as Members.

During the year ended 31-Mar-2023, the meetings of the Corporate Social Responsibility Committee were held on 21- May-2022 and
[Link] attendances of the Members are as follows:-

NAME OF THE MEMBER NO. OF MEETINGS ATTENDED

Sri A. Tenzing 2

Sri N. Nagarajan 1

Sri G. Abiruben 2

Smt. Suguna Ravichandran 1

Corporate Social Responsibility policy was adopted by the Board of Directors on the recommendation of Corporate Social Responsibility
Committee.

Report on Corporate Social Responsibility under Section 135 of The Companies Act, 2013 read with Rule 8 of Companies (Corporate Social
Responsibility Policy) Rules, 2014 is enclosed as Annexure-5 to this Report.

Annexure-5Tothe Directors’ Report

Annual Report on Corporate Social Responsibility activities as per Rule 8 of Companies

(Corporate Social Responsibility Policy) Rule, 2014

28
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

•A brief outline of the Company’s CSR policy:

The following CSR activities provided under Schedule VII of the Companies Act, 2013 can be carried out either directly or through
implementing agencies.

• Contributions or funds provided towards Eradicating hunger, poverty & malnutrition, promoting preventive health care and sanitation and
making available safe drinking water;

2. Contribution or funds provided towards improving access to education of the underprivileged people and livelihood enhancement projects.

3. Ensuring environmental sustainability, ecological balance, conservation of natural resources and maintaining quality of soil, air and water.

• Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by
the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government;
and
• Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies
established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology
(DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry
of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO); Indian
Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research
(CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development
Goals (SDGs).

4. Rural development projects.

5. Disaster management, including relief, rehabilitation and reconstruction activities.

• The Composition of the CSR Committee:

Number of
meetings of
CSR
Designation/ Number of meetings of CSR
Name of the
[Link]. Nature of Committee held during the Committee
Director
Directorship year attended
during
the year

Chairman
1. Sri A. Tenzing 2 2
(Non Executive
Director)

Sri N. Nagarajan
Member 1
2. (ceased to be a 2
member w.e.f ( Independent Director)
15.08.2022)

29
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Member (Non Executive

3. Sri. G. Abiruben 2 2
Director)

Smt. Suguna
Ravichandran Member
4 2 1
(member w.e.f ( Independent Director)
21.01.2023)

Provide the web-link(s)

where Composition of CSR
Committee, CSR Policy and
CSR Projects approved by
3. [Link]
the board are disclosed on
the website of thecompany:

Provide the executive

summary along with
web-link(s) of Impact
4. Assessment of CSR Not Applicable
Projects carried out in
pursuance of sub-rule (3) of
rule 8, if applicable:

Average net profit of the company as

a)
per sub-section (5) of section 135
Rs.59,66,34,322/-
5

Two percent of average net profit of

b) the company as per sub-section (5)
of section 135 Rs.1,19,32,686/-

Surplus arising out of the CSR

c) projects or programmes or activities Nil
of the previous financial years

Rs.1,12,578/-
Amount required to be set off for the
d)
financial year, if any

Total CSR obligation for the financial

e) Rs.1,18,20,108/-
year (b+c+d).

30
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Amount spent on CSR Projects (both

a) Ongoing Project and otherthan
Ongoing Project). Rs.1,22,45,616/-

Amount spent in Administrative

b) Nil
Overheads

Amount spent on Impact Assessment,

c) Not Applicable
if applicable

Rs.
Total amount spent for the Financial 1,22,45,616/-
d)
Year [(a)+(b)+(c)].

(e) CSR amount spent or unspent for the financial year:

6.
Total
Amount

Spent for the Amount

Unspent
Financial (in Rs.)
Year.

(in Rs.)

Amount
transferred
Total to any
Amount fund
transferred specified
to Unspent under
CSR Schedule
Account as VII as per
per section second
135(6). proviso to
section
135(5).

Name of
Date of the Date of
Amount. Rs Amount.
transfer. transfer.
Fund

1,22,45,616/- Nil N.A N.A

31
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(f) Excess amount for set-off, if any:

Sl.
Particular Amount (in Rs.)
No.

(1) (2) (3)

(i) Two percent of average net profit of the company as per sub-section (5) of section135 Rs.1,19,32,686/-

Rs.
(ii) Total amount spent for the Financial Year
1,22,45,616/-

Excess amount spent for the Financial Year [(ii)-(i)]

(iii)
(after set off of the amount Rs.112,578/- available for setoff from FY 2020-21) Rs.4,25,508/-

Surplus arising out of the CSR projects or programmes or activities of the previousFinancial
(iv)
Years, if any,
Nil

(v) Amount available for set off in succeeding Financial Years [(iii)-(iv)]
Rs.4,25,508/-

7. Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:

(1) (2) (3) (4) (5) (6) (7) (8)

Balance

Amount in
Amount
Amount
Unspent Amount
remaining
Amount transferred
Transferred to to be spent
CSR Spent in to a Fund as
Unspent CSR in
Preceding specified under
Account Deficiency,
Sl. No Financial Account the Schedule VII as per
succeeding ifany,
Year(s) second proviso to
under subsection
under Financial subsection (5) of
financial
subsection Year (in section 135,if any
(6) of section 135
Rs)
(in Rs.) years. (in
(6)
Rs.)
ofsection
135 (in
Rs.)

Amount

32
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(in Date of
Rs). transfer.

16,47,019 (But 17,49,847/-

Actual unspent
1 2020-21 Amount for the FY Nil (spent in N.A Nil Nil
2020-21 was FY
Rs.16,37,269/- ) 2021-22)

33,72,408/-
(spent in
2 2021-22 Rs.33,72,408 N.A Nil
FY
Nil Nil
2022-23)

8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amountspent in the Financial Year:

Yes

• No

If Yes, enter the number of Capital assets created/ acquired: N.A

Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibilityamount spent in the Financial
Year:

Short

particulars ofthe property or

Amount
asset(s) Pincode of
Date of of CSR Details of entity/ Authority/
Sl. No [including Theproperty
creation amount beneficiary of the registered owner
complete or asset(s)
spent
address and

location of theproperty]

(1) (2) (3) (4) (5) (6)

N.A

[Link] the reason(s), if the company has failed tospend two per cent of the average net profit as per subsection (5) of section 135: Not
Applicable

33
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Sd/- Sd/-

Sri A. Kasirajan Sri [Link]

Chief Executive officer Chairman CSR Committee

For and on behalf of the Board of Directors

Sd/- Sd/-

A. RAMAMURTHY S. ANNAMALAI

Maravankulam (DIN 00374398) (DIN 00001381)

19-August, 2023 Directors

34
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (13)

Disclosure of financial summary or highlights [Text Block]

Myreportofevendateistobereadalongwiththisletter

• Maintenance of Secretarial and other records is the responsibility of the

[Link] secretarial standards based on my audit.
• I have followed the audit practices and processes as were appropriate to obtain
reasonableassuranceaboutthecorrectnessofthecontentsoftheSecretarialand other statutory records. The verification was done on test basis to
ensure that [Link]
practicesIhavefollowedprovideareasonablebasisformyopinion.
• I have not verified the correctness and appropriateness of financial records and Books ofAccounts of the Company.
• Wherever required, I have obtained the Management Representation about the
complianceoflaws,rulesandregulationsandhappeningofeventsetc.
• The Compliance of the provisions of Corporate and other applicable laws, rules and regulations standards is the responsibility of the
management. My examinationwaslimitedtotheverificationofproceduresontestbasis.
• TheSecretarialAuditReportisneitheranassuranceastothefutureviabilityofthe company nor the efficacy or effectiveness with which the
management has conducted the affairs of the Company.

Date:14-August-2023 Place: Tirunelveli

UDIN:F000634000797606

[Link]
PracticingCompanySecretary FCSNo.634CPNo.1981

SixtyFirstAnnualReport2023

BalanceSheetasatMarch31, 2023

(`inLakhs)

Particulars Notes AsatMarch31, 2023 AsatMarch31, 2022

ASSETS

35
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

NonCurrentAssets

(a)Property,plantandequipment 3 8,484 8,866

(b) Capital work in progress 670 563

(c) Other Intangible assets 4 114 127

(d) Goodwill - -

(e) Financial assets

(i) Investments 5A 680 909

(ii) Other financial assets 5B 317 257

(f) Other non-current assets 6 426 337

(g) Non-current tax assets 7,15 456 359

11,147 11,418

CurrentAssets

(a) Inventories 8 6800 7,768

(b) Financial assets

(i)Tradereceivables 9 3053 3,759

(ii) Cash & cash equivalents 10 15,188 8,092

(iii) Others financial assets 11 37 26

(c) Other current assets 12 1,383 2,061

26,461 21,706

36
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

TotalAssets 37,608 33,124

EQUITYAND LIABILITIES

Equity

(a) Equity share capital 13 2,430 2,430

(b) Other equity 14 33,318 27,900

TotalEquity 35,748 30,330

37

BalanceSheetasatMarch31, 2023

(`inLakhs)

37
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Notes AsatMarch31, 2023 AsatMarch31, 2022

Particulars

Liabilities

Non CurrentLiabilities

(a) Financial liabilities

(b) Deferred tax liabilities 15 - -

Current Liabilities

(a) Financial liabilities

(i) Borrowings - -

(ii)Tradepayables 16 634 1417

(iii) Other Financial liabilities 17 81 77

(b) Provisions 18 185 303

(c) Current tax liabilities 19 - -

(d) Other current liabilities 20 960 997

1,860 2,794

TotalEquityandliabilities 37,608 33,124

Significant accounting policies 2

The notes referred to above form an integral part of the financial statements.

[Link] CEO

[Link] CFO

38
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[Link] CS(A55463)

For and on behalf of the Board of Directors

M. RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

N. NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Directors

Place:Maravankulam Date: 19.08.2023

AsperourReportofevendateattached

For M/s Sekar &Co.

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936

StatementofProfitandLossfortheyearendedMarch31,2023

For the year For the Year

endedMarch31, endedMarch31
Particulars Notes
2023 2022

39
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

21

22

23A

23B

24
(I) INCOME
25

26

3,4

27

30

Revenuefrom Operations 58,939 51,990

Other Income 3,365 1,749

TotalIncome 62,304 53,739

(II) EXPENSES

Cost of Materials Consumed 35,211 32,451

Purchasesof stock in trade 5,449 3,634

Changes in Inventories of Finished Goods,

Stock in trade

40
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

andWork-in-Progress 837 (799)

Employee Benefits Expense 2,675 2,333

Finance Costs 31 31

Depreciation andAmortisationexpense 1,880 1,731

Corporate Social Responsibility Expenses 159 73

Other Expenses 7,241 6,899

TotalExpenses 53,483 46,353

(III) Profit Before Tax 8,821 7,386

(IV)TaxExpense

Current tax 2,220 1,860

Adjustment of current tax relating to earlier

74 3
years

(Deferredtax)/DeferredTaxliabilities (97) (92)

Totaltaxexpense 2,197 1,771

(V)Profit for the year 6,624 5,615

(`inLakhs)

StatementofProfitandLossfortheyearendedMarch31,2023

(`inLakhs)

For the year For the Year

Particulars Notes endedMarch31, endedMarch31

41
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

2023 2022

(VI) OTHER COMPREHENSIVE INCOME

28
(OCI)

(I) Items not to be reclassified to profit or loss in

subsequent periods: 9 10

(VII)Totalothercomprehensiveincomefortheyear,

net of tax 9 10

(VIII)Totalcomprehensiveincomefortheyear 6,633 5,625

(IX)EarningsPer Equity Share Rs. 100/-each

fully paid

Computed on the basis of total profit for the

29 272.96 231.48
year Basic (Rs.)

Diluted (Rs.) 272.96 231.48

See accompanying notes to the financial

statements

[Link] CEO

[Link] CFO

[Link] CS(A55463)

For and on behalf of the Board of Directors

42
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

M. RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

N. NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Place:Maravankulam Date: 19.08.2023

Directors

AsperourReportofevendateattached

For M/s Sekar &Co.

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936

TheMetalPowderCompanyLimited

CashflowstatementfortheYearEndedMarch31,2023 (`in Lakhs)

For the year endedMarch For the year endedMarch

Particulars
31, 2023 31, 2022

A. Cash flows from operating activities

Net profit before taxation 8,821 7,386

43
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Adjustmentsfor:

Depreciation andAmortisationexpense 1,880 1,731

Interest income (572) (423)

Dividend Income (1190) (323)

Finance costs 31 31

Operating profit before working capital

8,970 8,402
changes

(Increase)/Decrease in inventories 968 (1,480)

(Increase)/Decrease in trade receivables 706 (1,416)

(Increase)/Decrease in other financial

(62) 30
assets

(Increase)/Decrease in other Non

(89) (337)
currentassets

(Increase)/Decrease in other current assets 678 (375)

(lncrease) / Decrease in current and

(961) 1,194
non-current liabilities

Cash generated from operations 10,210 6,018

Direct taxes paid (net of refunds) (2,267) (2,254)

Netcash from operating activities (A) 7,943 3,764

[Link] (used in) / from investing

activities

PurchaseofProperty,Plant&Equipment
(1,592) (2,631)
(including

44
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

capital work in progress)

Dividend Income 1,190 323

Sales / (Investment) in Shares and Mutual

229 (452)
Funds

Interest received 572 423

Net cash used in investing activities (B) 399 (2,337)

TheMetalPowderCompanyLimited

CashflowstatementfortheYearEndedMarch31,2023

For the year For the year

Particulars
endedMarch 31, 2023 endedMarch 31, 2022

C, Cash flows (used in) / from financing activities

Fixed deposit with banks (7932) 618

Dividends paid including tax on dividends (1,215) (1,215)

Interest and finance charges paid (31) (31)

Net cash from financing activities (C) (9,178) (628)

Net (decrease) / increase in cash and cash

equivalents (A+B+C) (836) 799

Cash and cash equivalents at the beginning of the year 2,144 1,345

Cash and cash equivalents at the end of the year 1,308 2,144

45
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Note:

• Cash and Cash Equivalents

Cash on hand and bank balance 1232 1,926

Margin money deposits and Unpaid dividend accounts 76 218 1,308 2,144

• TheCashFlowStatementhasbeenpreparedundertheindirectmethodassetoutinIndianAccounting Standard(IndAS7)StatementofCashFlows.

• Kasirajan CEO

[Link] CFO

• GomathiMeenakshi CS(A55463)

For and on behalf of the Board of Directors

• RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

• NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Place:Maravankulam Date: 19.08.2023

Directors

AsperourReportofevendateattached

For M/s Sekar &Co.

46
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936

StatementofChangesinEquity

• EquityShareCapital

(`inLakhs)

Equity Shares of Rs.100 Each, Fully paid up No. Amount

As at March 31, 2022 24,30,000 2,430

As at March 31, 2023 24,30,000 2,430

• OtherEquity

(`inLakhs)

Reservesandsurplus

RevaluationReserve InvestmentAllowance(Unutilised)Reserve SpecialStateCapitalS

Particulars GeneralReserve

As atApril 01, 2021 592 10,800 81 15

Profit for the year - - - -

Other Comprehensive
- - - -
Income

47
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

i)Remeasurement of
- - - -
Investment (Quoted Scrips)

- - - -

TotalComprehensiveIncome - - - -

Dividend - - - -

- - - -

At March 31, 2022 592 10,800 81 15

Profit for the year - - - -

Other Comprehensive
- - - -
Income

i)Remeasurement of
- - - -
Investment (Quoted Scrips)

- - - -

TotalComprehensiveIncome - - - -

Transferto reserve - 96 (81) (15)

Dividend - - - -

At March 31,2023 592 10,896 - -

• Kasirajan CEO

[Link] CFO

[Link] CS(A55463)

For and on behalf of the Board of Directors

48
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

M. RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

N. NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Place:Maravankulam Date: 19.08.2023

Directors

AsperourReportofevendateattached

For M/s Sekar &Co.

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936 43

44

49
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

TheMetalPowderCompanyLimited

FinancialStatementasatMarch31,2023

AnalyticalRatios:

S. Current
Ratio Numerator Denominator
No. Year

1 Currentratio (intimes) Totalcurrentassets Totalcurrentliabilities 14.23.

Debtconsists ofborrowingsand lease

2 Debt-Equityratio(in times) Totalequity NA
liabilities

EarningforDebtService= NetProfitaftertaxes
Debtservice= Interest and
+
3 Debtservicecoverageratio(in times) NA
lease payments +
Non-cashoperatingexpenses+Interest+Other
Principalrepayments
non-cashadjustments

4 Returnon equity ratio(in %) Profitfor theyear afterTax Averagetotalequity 20.08%

5 InventoryTurnoverRatio Costof Goods Sold AverageInventory 5.70

6 Tradereceivablesturnoverratio(intimes) Revenuefrom operations Averagetradereceivables 17.30

7 Tradepayablesturnoverratio(intimes) Costof Goods Sold Averagetradepayables 65.45

Averageworkingcapital(i.e.

8 Netcapital turnover ratio(in times) Revenuefrom operations Totalcurrentassets 2.71

lessTotalcurrentliabilities)

9 Netprofitratio (in%) Profitfor theyear Revenuefrom operations 11.24%

Capitalemployed =Net
worth
10 Returnon capital employed(in%) Profitbeforetax andfinance 24.66%
+Deferred tax liabilities

11 Returnon investment (in%) Profitafter tax TotalAssets 17.61%

50
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

NotesformingpartofthefinancialstatementsfortheyearendedMarch31,2023

• CorporateInformation

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the provisions of Companies
Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium paste, oxidesandAACBlocks.

• BasisofPreparation,MeasurementandSignificantAccountingPolicies
• Basisofpreparationandmeasurement
• BasisofPreparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies
(Indian AccountingStandards)Rules,2015(asamendedfromtimetotime).

Thestandalonefinancialstatementshavebeenpreparedonthehistoricalcost basisexceptforcertainassetsandliabilitiesthataremeasuredatfairvaluesat
theendofeachreportingperiod,asexplainedintheaccountingpoliciesbelow.

ThesefinancialstatementsareapprovedforissuebytheBoardofDirectorson 19thAugust,2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied consistently to all the
periods presented in the financial statements. All assets and liabilities have been classified as current or non-current as per the Company’s
normal operating cycle and other criteria as set out in the Division II of Schedule III to the
CompaniesAct,[Link] acquisition of assets for processing and their realisation in cash and
cash equivalents,theCompanyhasascertaineditsoperatingcycleas12monthsfor
thepurposeofcurrentornon-currentclassificationofassetsandliabilities.

Transactionsandbalanceswithvaluesbelowtheroundingoffnormadoptedby
theCompanyhavebeenreflectedas“0”intherelevantnotesinthesefinancial statements.

• BasisofMeasurement

These financial statements are prepared under the historical cost convention unlessotherwiseindicated.

51
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (14)

Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]

• Number of Meetings of The Board of Directors: During the year ended

31-March-2023Twelve Board Meetings were held. The attendance of the Directors are as
follows:

No. of Board [Link] Board

Name of The Director Meetings Eligible Meetings
To Attend Attended

Sri M. Ramalingam 12 12

Sri A. Ramamurthy 12 10

Sri S. Annamalai 12 12

Sri C .Gunasingh Prithiviraj 12 11

Sri A. Tenzing 12 12

Sri D. Singaravel 12 12

Sri V. Ayyan Kodiswaran 12 11

Sri G. Abiruben 12 12

Sri Yennarkay R. Rajarathnam 12 9

Sri Yennarkay R. Selvarathnam 12 12

Sri N. Nagarajan 12 12

Smt. Suguna Ravichandran 12 10

52
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Sri K. Balakrishnan 5 1

53
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (15)

Disclosure of appointment and remuneration of director or managerial personnel if any, in the financial year
[Text Block]

• Disclosure of Company’s Policy on Director’s, Key Managerial Personnel and Other

Employees AppointmentAnd Remuneration Including Criteria for Determining Attributes,
Qualification, Independence Etc: The Company has a well-defined policy for employment,
remuneration and for rewarding excellence in performance for the workmen, employees
and Key Managerial Personnel of the Company.

The Company has a well-defined policy for appointment of directors.

The following changes occurred in the composition of Key Managerial Personnel.

Sri A. Karthiswaran ceased to be the Company Secretary with effect from 16.07.2022 and SmtG. Gomathi Meenakshi was appointed as the
Company Secretary of the Company with effect from 16.07.2022.

Sri P. Senthil Kumar ceased to be the Chief Financial officer of the Company with effect from 10.05.2022 and Sri S. Senthil Murugan was
appointed as the Chief Financial officer of the Company with effect from 16.07.2022.

The relevant e Forms (DIR-12) have been filed with ROC for the above changes in composition of KMP.

The various compliances done by the company and the compliances to be done are tabled in the board meetings as a compliance report. The
report is discussed in the board meetings and the details of the same are properly recorded in the minutes of the meeting.

ExplanatoryStatementrelatingtotheSpecialBusinesspursuanttoSection102(1)
ofTheCompaniesAct,2013.
ResolutionNo.8:

AttheBoardMeetingheldon17-June-2023,[Link], Cost Accountant as the Cost Auditor of the Company for

the year 2023-2024 on a remunerationofRs.1,00,000/-plusGoodsandServiceTaxandtravellingandincidental
expenses.PursuanttotheprovisionsofSection148readwiththeCompanies(Auditand
Auditors)Rules,2014,theaforesaidremunerationapprovedbytheBoardofDirectorsis required to be ratified by the Shareholders.

TheOrdinaryResolutionappearingintheNoticeissoughttobepassedforthispurpose.

None of the Directors or the Key Managerial Personnel or their relatives is in any way

54
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

concernedorinterested,financiallyorotherwiseinthesaidResolution.

[700500] Disclosures - Signatories of financial statements

Details of directors signing financial statements [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing financial statements [Axis] 1 2 3 4
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements
[Abstract]
Details of directors signing financial statements
[LineItems]
Name of director signing financial statements
[Abstract]
First name of director ANNAMALAI VAIRAPRAKASAM GRAHADURAI DHANASEKARAPANDIAN
Last name of director SANKARALINGAM KODISWARAN ABIRUBEN SINGARAVEL
Designation of director Director Director Director Director
Director identification number of director 00001381 00001872 00006847 00006862
Date of signing of financial statements by director 19/08/2023 19/08/2023 19/08/2023 19/08/2023

Details of directors signing financial statements [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing financial statements [Axis] 5 6 7 8
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements
[Abstract]
Details of directors signing financial statements
[LineItems]
Name of director signing financial statements
[Abstract]
First name of director ARUNACHALAM RAVINDRAN NAGARAJAN
Middle name of director YENNARKAY NATARAJAN
RAVINDRAN
Last name of director TENZING
RAJARATNAM
SELVARATHNAM

Designation of director Director Director Director Director

Director identification number of director 00014412 00020509 00031076 00121494
Date of signing of financial statements by director 19/08/2023 19/08/2023 19/08/2023 19/08/2023

Details of directors signing financial statements [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Directors signing financial statements [Axis] 9 10 11 12
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements
[Abstract]
Details of directors signing financial statements
[LineItems]
Name of director signing financial statements
[Abstract]
First name of director KALIAPPAN CHELLADURAI SUGUNA
GUNASINGH AYYANADAR
Last name of director BALAKRISHNAN
PRITHIVIRAJ
RAVICHANDRAN
RAMAMURTHY
Designation of director Director Director Director Director
Director identification number of director 00144462 00168538 00170190 00374398
Date of signing of financial statements by director 19/08/2023 19/08/2023 19/08/2023 19/08/2023

55
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[700400] Disclosures - Auditors report

Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Auditor's
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark
[Member]
01/04/2022
to
31/03/2023
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report
[LineItems]
Disclosure in auditors report relating to fixed assets DAGDFD
Disclosure in auditors report relating to inventories DFDFD
Disclosure in auditors report relating to loans DSAFDF
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013 PUOU
Disclosure in auditors report relating to deposits accepted TITY
Disclosure in auditors report relating to maintenance of cost records GYTYT
Disclosure in auditors report relating to statutory dues [TextBlock] TEYRTY
Disclosure in auditors report relating to default in repayment of financial dues EYTYRY
Disclosure in auditors report relating to public offer and term loans used for purpose for which
YRYTRY
those were raised
Disclosure in auditors report relating to fraud by the company or on the company by its officers
RTRTWET
or its employees reported during period
Disclosure in auditors report relating to managerial remuneration TETWET
Disclosure in auditors report relating to Nidhi Company TRSTFTR
Disclosure in auditors report relating to transactions with related parties YRYRY
Disclosure in auditors report relating to preferential allotment or private placement of shares or
SFDRT
convertible debentures
Disclosure in auditors report relating to non-cash transactions with directors or persons connected
DHFRYRFY
with him
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India
STGRTERT
Act, 1934

Details regarding auditors [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Auditors [Axis] 1
01/04/2022
to
31/03/2023
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm THEMETALPOWDERCOMPANYLIMITED
Name of auditor signing report TULSYAN PRAVIN
Firms registration number of audit firm 004478
Membership number of auditor 108044
Address of auditors Tirunelveli
Permanent account number of auditor or auditor's firm AAAPT4561K
SRN of form ADT-1 F27047323
Date of signing audit report by auditors 19/08/2023
Date of signing of balance sheet by auditors 19/08/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022
to
31/03/2023
Textual information (16)
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
Yes
contains adverse remarks

COMPANY
Auditor's qualification(s), reservation(s) or adverse remark(s) in SECRETARY
auditors' report

56
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (16)

Disclosure in auditor’s report explanatory [Text Block]

Independent Auditors’ Report

To the Members of

THE METAL POWDER COMPANY LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the standalone financial statements of THE METAL POWDER COMPANY LIMITED (the
“Company”), which comprise the standalone balance sheet as at March 31, 2023 and the standalone statement of profit and
loss (including other comprehensive income), standalone statement of changes in equity and standalone statement of cash
flows for the year then ended, and notes to the standalone financial statements, including a summary of significant
accounting policies and other explanatory information (hereinafter referred to as “standalone financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
financial statements give the information required by the Companies Act, 2013 (“Act”) in the manner so required and give a
true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the
Company as at March 31, 2023, and its income and other comprehensive income, changes in equity and its cash flows for
the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our
responsibilities under those SAs are further described in the Auditors’ Responsibilities for the Audit of the Standalone
Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit
of the standalone financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our
other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial
statements.

Key Audit Matters

Key audit matters (‘KAM’) are those matters that, in our professional judgment, were of most significance in our audit of the
Standalone Financial Statements current period. These matters were addressed in the context of our audit of the Standalone
Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these
matters.

Description of Key Audit Matter

57
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Revenue recognition

See Note 21 to the Standalone Financial Statements

The key audit matter

Revenue is recognized when the control of the products being sold has been transferred to the customer.

We have identified recognition of revenue as a key audit matter as revenue is a key performance indicator and there is a risk
of revenue being fraudulently overstated through manipulation on the timing of the transfer of control arising from pressure to
achieve performance targets as well as meeting external expectations.

How the matter was addressed in our audit

Our audit procedures included:

Assessing the appropriateness of the revenue recognition accounting policies, by comparing them with applicable accounting
standards.

Testing the design, implementation, and operating effectiveness of the Company’s general IT controls and key IT/manual
application controls over the Company’s systems that govern the recording of revenue in the general ledger accounting
system.

Performing substantive testing (including year-end cut-off testing) by selecting samples of revenue transactions recorded
during the year (and before and after the financial year end) by verifying the underlying documents, which included sales
invoices/contracts and shipping documents.

We assessed manual journals posted to revenue to identify unusual items.

Considering the adequacy of the Company’s disclosures in respect of revenue.

The carrying amount of the investments in subsidiaries and associate held at cost

How the matter was addressed in our audit

Our audit procedures included:

For subsidiaries that are unlisted entities, comparing the carrying amount of investments with the relevant subsidiaries’
balance sheet to identify whether their net assets, being an approximation of their minimum recoverable amount, were in
excess of their carrying amount and assessing whether those subsidiaries have historically been profit-making;

58
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Considering the adequacy of disclosures in respect of investments in subsidiaries and associate.

The key audit matter

The Company has material uncertain tax positions including matters under dispute which involves significant judgment to
determine the possible outcome of these disputes.

How the matter was addressed in our audit

Obtained details of completed tax assessments and demands for the year ended March 31, 2020 from management. We
involved our internal experts to challenge the management’s underlying assumptions in estimating the tax provision and the
possible outcome of the disputes. Our internal experts also considered legal precedence and other rulings in evaluating
management’s position on these uncertain tax positions. Additionally, we considered the effect of new information in respect
of uncertain tax positions as at April 1, 2023 to evaluate whether any change was required to management’s position on
these uncertainties.

The Company’s management and Board of Directors are responsible for the other information. The other information
comprises the information included in the Company’s annual report, but does not include the standalone financial statements
and our auditors’ report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed,
we conclude that there is a material misstatement of this other information; we are required to report that fact. We have
nothing to report in this regard.

Management's Responsibility for the Standalone Financial Statements

The Company's management and Board of Directors are responsible for the matters stated in Section 134(5) of the Act with
respect to the preparation of these standalone financial statements that give a true and fair view of the state of affairs,
profit/loss and other comprehensive income, changes in equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the Indian Accounting Standards specified under Section 133 of
the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of
the Act for the safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the
standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud
or error.

In preparing the standalone financial statements, management and Board of Directors are responsible for assessing the
Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or
has no realistic alternative but to do so.

Board of Directors is also responsible for overseeing the Company’s financial reporting process.

59
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Auditor’s Responsibility for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these Standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:

Identify and assess the risks of material misstatement of the Standalone financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the
company has adequate internal financial controls with reference to Standalone financial statements in place and the
operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the
Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor’s report to the related disclosures in the Standalone financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors'
report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Standalone financial statements, including the disclosures, and
whether the Standalone financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the Standalone financial statements of the current period and are therefore the key audit matters.
We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.

60
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in
terms of sub-section (11) of section 143 of the Act, we give in the Annexure-A, a statement on the matters specified in
paragraphs 3 and 4 of the Order to the extent applicable.

2. (A) As required by section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by the Company so far as it appears from our
examination of those books.

c) The standalone balance sheet, the standalone statement of profit and loss (including other comprehensive income), the
standalone statement of changes in, equity and the standalone statement of cash flows dealt with by this Report are in
agreement with the books of account.

d) In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards (Ind AS) specified under
Section 133 of the Act;

e) On the basis of written representations received from the directors as on March 31, 2023, and taken on record by the
Board of Directors, none of the directors is disqualified as on March 31, 2023, from being appointed as a director in terms of
section 164(2) of the Act; .

f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating
effectiveness of such controls, refer to our separate report in Annexure B. Our report expresses an unmodified opinion on the
adequacy and operating effectiveness of the Company’s internal financial controls over financial reporting;

(B) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies
(Audit and Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to
us:

(a) The Company has disclosed the impact of pending litigations as at March 31, 2023 on its financial position in its
standalone financial statements - Refer to Note 31 to the standalone financial statements. There are no long-term contracts
for which provisions need to be made.

(b) The Company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses as at 31st March 2023.

(c) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection
Fund by the Company.

(d) (i) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either
individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity

61
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either
individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity
(“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether,
directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(iii) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing
has come to the notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as
provided under (a) and (b) above, contain any material misstatement.

(e) The dividend declared and paid during the year by the Company is in compliance with Section 123 of the Act.

(C) With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act:

In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its
directors during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any
director is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not
prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For M/s. Sekar & Co.

Chartered Accountants

Firm Regn. No: 0016269S

Maravankulam

19th August 2023

(Arun Kumar Ghadei)

Partner

[Link]: 230158

UDIN – 23230158BGRMXN5936

ANNEXURE – A TO THE INDEPENDENT AUDITORS’ REPORT

62
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

The Annexure referred to in Annexure A of our Independent Auditors’ Report to the members of the Company on the financial
statements for the year ended 31st March 2023:

(i) In respect of Company’s Property , Plant and Equipment:

(a) (A) The company has maintained proper records showing full particulars including quantitative details and situation of
Property, Plant and Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has a regular program of physical verification of its property, plant and equipment by which all
property, plant and equipment are verified in a phased manner over a period of three years. In accordance with this program,
certain properties, plant and equipment were verified during the year. In our opinion, this periodicity of physical verification is
reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on
such verification.

(c) According to the information and explanations given to us and on the basis of our examinations of the records of the
company, the title deeds of immovable properties are held in the name of the Company.

(d) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has not revalued its property, plant and equipment (including right of use assets) or intangible
assets or both during the year.

(e) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, there are no proceedings initiated or pending against the Company for holding any benami property under the
Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

(ii) (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of
verification is reasonable. The procedures of physical verification of inventories followed by the management are reasonable
and adequate in relation to the size of the company and the nature of its business. On the basis of our examination of the
records of inventory, we are of the opinion that the company is maintaining proper records of inventory. The discrepancies
noticed on verification between the physical stocks and the book records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks
or financial institutions on the basis of the security of current assets at any point of time during the year. Accordingly, the
quarterly statements filed with such banks and financial institutions are in agree with the books of accounts of the company.

(iii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has not provided any guarantee or security or granted any loans or advances in the nature of loans,
secured or unsecured to companies, firms, limited liability partnership or any other parties during the year. The Company has
made investments in companies and other parties, in respect of which the requisite information is as below. The Company
has not made any investments in firms and limited liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are
of the opinion that the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has not given any loans and advances in the nature of loans to any party during the year.

63
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Accordingly, provisions of clauses 3(iii)(c) to (f) of the Order are not applicable to the Company.

(iv) According to the information and explanations given to us and on the basis of our examination of the records of the
Company, the Company has neither made any investments nor has it given loans or provided guarantee or security as
specified under Section 185 of the Companies Act, 2013 (“the Act”) and the Company has not provided any security as
specified under Section 186 of the Act. Further, in our opinion, the Company has complied with the provisions of Section 186
of the Act in relation to loans given, guarantees provided and investments made.

(v) During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not
applicable to the Company.

(vi) We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the
Central Government of India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of
the opinion that, prima facie the prescribed accounts and records been made and maintained . We have not made a detailed
examination of records whether they are accurate and complete.

(vii) (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including
Provident Fund, Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise,
Value added Tax, Cess and any other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident
Fund, Employees’ State Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added
Tax, Cess and any other material statutory dues were in arrears as at 31st March 2023 for a period of more than six months
from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters
pending before appropriate authorities are as under:

[700700] Disclosures - Secretarial audit report

Details of signatories of secretarial audit report [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Signatories of secretarial audit report [Axis] 1
01/04/2022
to
31/03/2023
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Category of secretarial auditor Secretarial auditors firm
The Metal Powder
Name of secretarial audit firm Company Limited
Name of secretarial auditor signing report [Link]
Firms registration number of secretarial audit firm 004478
Membership number of secretarial auditor FCS634
Date of signing secretarial audit report 14/08/2023

64
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022
to
31/03/2023
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
Yes
observation or other remarks

COMPANY
Secretarial qualifications or observations or other remarks in SECRETARY'
secretarial audit report

65
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[110000] Balance sheet

Unless otherwise specified, all monetary values are in Lakhs of INR
31/03/2023 31/03/2022 31/03/2021
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 8,484 8,866 8,381
Capital work-in-progress 670 563
Goodwill 0 0
Other intangible assets 114 127 126
Non-current financial assets [Abstract]
Non-current investments 680 909
Loans, non-current 0 0
Other non-current financial assets 317 257
Total non-current financial assets 997 1,166
Deferred tax assets (net) 456 359
Other non-current assets 426 337
Total non-current assets 11,147 11,418
Current assets [Abstract]
Inventories 6,800 7,768
Current financial assets [Abstract]
Current investments 0 0
Trade receivables, current 3,053 3,759
Cash and cash equivalents 15,188 8,092
Loans, current 0 0
Other current financial assets 37 26
Total current financial assets 18,278 11,877
Other current assets 1,383 2,061
Total current assets 26,461 21,706
Total assets 37,608 33,124
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 2,430 2,430 2,430
Other equity 33,318 27,900
Total equity attributable to owners of parent 35,748 30,330
Non controlling interest 0 0
Total equity 35,748 30,330
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 0 0
Total non-current financial liabilities 0 0
Provisions, non-current 0 0
Total non-current liabilities 0 0
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 0 0
Trade payables, current 634 1,417
Other current financial liabilities 81 77
Total current financial liabilities 715 1,494
Other current liabilities 960 997
Provisions, current 185 303
Total current liabilities 1,860 2,794
Total liabilities 1,860 2,794
Total equity and liabilities 37,608 33,124

66
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[210000] Statement of profit and loss

Earnings per share [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 272.96 [INR/shares] 231.48
Total basic earnings (loss) per share [INR/shares] 272.96 [INR/shares] 231.48
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] 272.96 [INR/shares] 231.48
Total diluted earnings (loss) per share [INR/shares] 272.96 [INR/shares] 231.48

67
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 58,939 51,990
Other income 3,365 1,749
Total income 62,304 53,739
Expenses [Abstract]
Cost of materials consumed 35,211 32,451
Purchases of stock-in-trade 5,449 3,634
Changes in inventories of finished goods, work-in-progress and
837 -799
stock-in-trade
Employee benefit expense 2,675 2,333
Finance costs 31 31
Depreciation, depletion and amortisation expense 1,880 1,731

Other expenses (A) 7,400 (B) 6,972

Total expenses 53,483 46,353
Profit before exceptional items and tax 8,821 7,386
Total profit before tax 8,821 7,386
Tax expense [Abstract]
Current tax (C) 2,294 (D) 1,863
Deferred tax -97 -92
Total tax expense 2,197 1,771
Total profit (loss) for period from continuing operations 6,624 5,615
Total profit (loss) for period 6,624 5,615
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
No No
presented net of tax
Other comprehensive income net of tax [Abstract]
Other comprehensive income that will not be reclassified to
9 10
profit or loss, net of tax, others
Total other comprehensive income that will not be reclassified
9 10
to profit or loss, net of tax
Total other comprehensive income 9 10
Total comprehensive income 6,633 5,625
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
Yes Yes
before tax
Other comprehensive income before tax [Abstract]
Other comprehensive income that will not be reclassified to
9 10
profit or loss, before tax, others
Other comprehensive income that will not be reclassified to
9 10
profit or loss, before tax
Total other comprehensive income, before tax 9 10
Total other comprehensive income 9 10
Total comprehensive income 6,633 5,625
Earnings per share explanatory [TextBlock]
Earnings per share [Abstract]
Basic earnings per share [Abstract]
Diluted earnings per share [Abstract]

68
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Other Expenses 7241

Corporate Social Responsibility Expenses 159

(B)
Particulars 2021-22

Other Expenses 6899

Corporate Social Responsibility Expenses 73

(C)
Particulars 2022-23

Current tax 2220

Adjustment of current tax relating to earlier years 74

(D)
Particulars 2021-22

Current tax 1860

Adjustment of current tax relating to earlier years 3

[210000a] Statement of profit and loss

Other comprehensive income that will not be reclassified to profit or loss, before tax, others [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Other comprehensive income that will not be reclassified to profit or loss, before tax, others [Axis] 1
01/04/2022
01/04/2021
to
to
31/03/2022
31/03/2023
Other comprehensive income that will not be reclassified to profit or loss, before tax,
others [Abstract]
Other comprehensive income that will not be reclassified to profit or loss, before tax,
others [Line items]
Description of other comprehensive income that will not be reclassified to profit
other other comprehensive reserve
or loss, before tax, others
Other comprehensive income that will not be reclassified to profit or loss, before tax,
9 10
others

Other comprehensive income that will not be reclassified to profit or loss, net of tax, others [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Other comprehensive income that will not be reclassified to profit or loss, net of tax, others [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Other comprehensive income that will not be reclassified to profit or loss, net of tax,
others [Abstract]
Other comprehensive income that will not be reclassified to profit or loss, net of tax,
others [Line items]
other
Description of other comprehensive income that will not be reclassified to profit other comprehensive
comprehensive
or loss, net of tax, others income
income
Other comprehensive income that will not be reclassified to profit or loss, net of tax,
9 10
others

69
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[400200] Statement of changes in equity

Statement of changes in equity [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Equity attributable
to the equity
Components of equity [Axis] Equity [Member]
holders of the
parent [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 6,624 5,615 6,624
Changes in comprehensive income components 9 10 9
Total comprehensive income 6,633 5,625 6,633
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
1,215 0 1,215
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 1,215 0 1,215
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 1,215 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 1,215 0
Total dividend appropriation 1,215 1,215 1,215
Total appropriations for dividend,
1,215 1,215 1,215
dividend tax and retained earnings
Total other changes in equity -1,215 -1,215 -1,215
Total increase (decrease) in equity 5,418 4,410 5,418
Other equity at end of period 33,318 27,900 23,490 33,318

70
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Equity attributable to the equity
Components of equity [Axis] Reserves [Member]
holders of the parent [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 5,615 6,624 5,615
Changes in comprehensive income components 10 0 0
Total comprehensive income 5,625 6,624 5,615
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 1,215 0
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 1,215 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 1,215 0 1,215
Final special dividend appropriation 0 0 0
Total final dividend appropriation 1,215 0 1,215
Total dividend appropriation 1,215 1,215 1,215
Total appropriations for dividend,
1,215 1,215 1,215
dividend tax and retained earnings
Total other changes in equity -1,215 -1,215 -1,215
Total increase (decrease) in equity 4,410 5,409 4,400
Other equity at end of period 27,900 23,490 33,300 27,891

71
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Reserves
Components of equity [Axis] Revaluation reserve [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0
Changes in comprehensive income components 0
Total comprehensive income 0 0
Other changes in equity [Abstract]
Other additions to reserves 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0
Total deductions to reserves 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0
appropriation
Total interim dividend appropriation 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Total appropriations for dividend,
0 0
dividend tax and retained earnings
Total other changes in equity 0 0
Total increase (decrease) in equity 0 0
Other equity at end of period 23,491 592 592 592

72
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
General reserve
Components of equity [Axis] Subsidy incentive reserve [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Other additions to reserves -15 0 96
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0
appropriation
Total interim dividend appropriation 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Total other changes in equity -15 0 96
Total increase (decrease) in equity -15 0 96
Other equity at end of period 0 15 15 10,896

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR
Components of equity [Axis] General reserve [Member] Retained earnings [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 6,624 5,615
Changes in comprehensive income components 0 0 0
Total comprehensive income 0 6,624 5,615
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 1,215 0
appropriation
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 1,215 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 1,215
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 1,215
Total dividend appropriation 0 1,215 1,215
Total appropriations for dividend,
0 1,215 1,215
dividend tax and retained earnings
Total other changes in equity 0 -1,215 -1,215
Total increase (decrease) in equity 0 5,409 4,400
Other equity at end of period 10,800 10,800 21,812 16,403

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(6)

Unless otherwise specified, all monetary values are in Lakhs of INR
Retained earnings
Components of equity [Axis] Remeasurements of defined benefit plans [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 6,624 5,615
Changes in comprehensive income components 0
Total comprehensive income 6,624 5,615
Other changes in equity [Abstract]
Other additions to reserves 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0
Total deductions to reserves 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
1,215 0
appropriation
Total interim dividend appropriation 1,215 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 1,215
Final special dividend appropriation 0
Total final dividend appropriation 1,215
Total dividend appropriation 1,215 1,215
Total appropriations for dividend,
1,215 1,215
dividend tax and retained earnings
Total other changes in equity -1,215 -1,215
Total increase (decrease) in equity 5,409 4,400
Other equity at end of period 12,003 21,812 16,403 12,003

75
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(7)

Unless otherwise specified, all monetary values are in Lakhs of INR
Fair value changes relating to own credit risk of financial
Other retained
Components of equity [Axis] liabilities designated at fair value through profit or loss
earning [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0
appropriation
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Total other changes in equity 0 0 0
Total increase (decrease) in equity 0 0 0
Other equity at end of period 0 0 0 0

76
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(8)

Unless otherwise specified, all monetary values are in Lakhs of INR
Components of equity [Axis] Other retained earning [Member] Other reserves [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Other additions to reserves 0 -81 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0
appropriation
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Total other changes in equity 0 -81 0
Total increase (decrease) in equity 0 -81 0
Other equity at end of period 0 0 0 81
CONTEMPRARY CONTEMPRARY
Description of nature of other reserves RESERVE RESERVE

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(9)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other reserves
Components of equity [Axis] Other equity components [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0
Changes in comprehensive income components 9 10
Total comprehensive income 9 10
Other changes in equity [Abstract]
Other additions to reserves 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0
Total deductions to reserves 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0
appropriation
Interim special dividend
0
appropriation
Total interim dividend appropriation 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Total appropriations for dividend,
0 0
dividend tax and retained earnings
Total other changes in equity 0 0
Total increase (decrease) in equity 9 10
Other equity at end of period 81 18 9 -1

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(10)

Unless otherwise specified, all monetary values are in Lakhs of INR
Non-controlling
Components of equity [Axis] Other comprehensive income, others [Member]
interests [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 9 10
Total comprehensive income 9 10 0
Other changes in equity [Abstract]
Other additions to reserves 0
Deductions to reserves [Abstract]
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0
appropriation
Interim special dividend
0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Total other changes in equity 0 0 0
Total increase (decrease) in equity 9 10 0
Other equity at end of period 18 9 -1 0

79
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(11)

Unless otherwise specified, all monetary values are in Lakhs of INR
Components of equity [Axis] Non-controlling interests [Member]
01/04/2021
to 31/03/2021
31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0
Total comprehensive income 0
Other changes in equity [Abstract]
Other additions to reserves 0
Deductions to reserves [Abstract]
Other deductions to reserves 0
Total deductions to reserves 0
Appropriations for dividend, dividend tax and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation [Abstract]
Interim equity dividend appropriation 0
Interim special dividend appropriation 0
Total interim dividend appropriation 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0
Total final dividend appropriation 0
Total dividend appropriation 0
Total appropriations for dividend, dividend tax and retained earnings 0
Total other changes in equity 0
Total increase (decrease) in equity 0
Other equity at end of period 0 0

80
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[320000] Cash flow statement, indirect

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax 8,821 7,386
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 31 31
Adjustments for decrease (increase) in inventories 968 -1,480
Adjustments for decrease (increase) in trade receivables, current 706 -1,416
Adjustments for decrease (increase) in other current assets 678 -375
Adjustments for decrease (increase) in other non-current assets -961 1,194
Adjustments for other financial assets, non-current -89 -337
Adjustments for other financial assets, current -62 30
Adjustments for depreciation and amortisation expense 1,880 1,731
Adjustments for dividend income 1,190 323
Adjustments for interest income 572 423
Total adjustments for reconcile profit (loss) 1,389 -1,368
Net cash flows from (used in) operations 10,210 6,018
Income taxes paid (refund) 2,267 2,254
Net cash flows from (used in) operating activities 7,943 3,764
Cash flows from used in investing activities [Abstract]
Other cash receipts from sales of equity or debt instruments of other
229 -452
entities
Proceeds from sales of property, plant and equipment -1,592 -2,631
Dividends received 1,190 323
Interest received 572 423
Net cash flows from (used in) investing activities 399 -2,337
Cash flows from used in financing activities [Abstract]
Dividends paid 1,215 1,215
Interest paid 31 31
Other inflows (outflows) of cash -7,932 618
Net cash flows from (used in) financing activities -9,178 -628
Net increase (decrease) in cash and cash equivalents before effect of
-836 799
exchange rate changes
Net increase (decrease) in cash and cash equivalents -836 799
Cash and cash equivalents cash flow statement at end of period 1,308 2,144 1,345

[610100] Notes - List of accounting policies

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (17) Textual information (18)
Disclosure of significant accounting policies [TextBlock] [See below] [See below]
Textual information (19) Textual information (20)
Description of accounting policy for government grants [TextBlock] [See below] [See below]

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (17)

Disclosure of significant accounting policies [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended
March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the
provisions of Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium
paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant Accounting

Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets
and liabilities that are measured at fair values at the end of each reporting period, as explained in the accounting
policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are
applied consistently to all the periods presented in the financial statements. All assets and liabilities have been
classified as current or non-current as per the Company’s normal operating cycle and other criteria as set out in
the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time
between acquisition of assets for processing and their realization in cash and cash equivalents, the Company
has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of
assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been
reflected as “0” in the relevant notes in these financial statements.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in
the application of accounting policies that affect the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates. Continuous evaluation is done on the estimation and
judgments based on historical experience and other factors, including expectations of future events that are
believed to be reasonable. Revisions to accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that
have the most significant effect to the carrying amounts of assets and liabilities within the next financial year, are
included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The
Company has considered the possible effects that may result from the pandemic like COVID-19 on the carrying
amounts of receivables, intangibles, investments and other assets. In developing the assumptions relating to the
possible future uncertainties in the economic conditions because of this pandemic, the Company has used
internal and external sources of information. The Company has reviewed the assumptions used and based on
current estimates expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both
financial and non-financial assets and liabilities. The Company has an established control framework with
respect to the measurement of fair values. The valuation team regularly reviews significant unobservable inputs
and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation
techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

83
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes,
are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.
Freehold land is not depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any Such cost includes the cost of replacing part of the plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts
of plant and equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Cost of
spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair and maintenance
costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria
for a provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated
depreciation and accumulated impairment losses. Leasehold Improvements thereon are amortized over the
primary period of lease. Depreciation on assets is provided using the straight-line method based on rates
specified in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their condition,
usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment
which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress.
Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to
use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

Estimated
Asset Category Useful
Life

Buildings 60

Factory Buildings 20

Plant & Equipment 20

Electrical Installation & Equipment 10

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Computers 3

Servers & Networks 6

Office Equipment 5

Furniture & Fixtures 10

Vehicles 10

Motor Cycles 8

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any.
Where an indication of impairment exists, the carrying amount of the investment is assessed and written down
immediately to its recoverable amount. On disposal of investments in subsidiaries and joint venture, the
difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit
and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out
basis. Cost of finished goods and work-in-progress include all costs of purchases, conversion costs and other
costs incurred in bringing the inventories to their present location and condition. The net realisable value is the
estimated selling price in the ordinary course of business less the estimated costs of completion and estimated
costs necessary to make the sale. Raw materials, packing materials and other supplies held for use in
production of inventories are not written down below cost except in cases where material prices have declined,
and it is estimated that the cost of the finished products will exceed their net realisable value. The provision for
inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid
investments with original maturities of three months or less. Bank overdrafts are shown within short-term
borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when
all of the following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for
immediate sale in its present condition. (iii) the assets are being actively marketed and (iv) sale has been agreed
or is expected to be concluded within 12 months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the
lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated
or amortised.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost are recognised in the statement of
profit and loss. In other cases, the transaction cost are attributed to the acquisition value of the financial asset.

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company
changes its business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost,
using the effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that
discounts estimated future cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income
(‘FVOCI’) or fair value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business
model for managing the financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows that are solely payments of principal and interest, are subsequently measured at
amortised cost using the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR
and loss arising from impairment, if any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

86
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets that are held within a business model whose objective is achieved by both, selling financial
assets and collecting contractual cash flows that are solely payments of principal and interest, are subsequently
measured at fair value through other comprehensive income. Fair value movements are recognized in the other
comprehensive income (OCI). Interest income measured using the EIR method and impairment losses, if any
are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously
recognised in OCI is reclassified from the equity to ‘other income’ in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets
are measured at fair value with all changes in fair value, including interest income and dividend income if any,
recognised as ‘other income’ in the Statement of Profit and Loss.

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the
Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity
instrument are recognised as other income in the Statement of Profit and Loss unless the Company has elected
to measure such instrument at FVOCI. Fair value changes excluding dividends, on an equity instrument
measured at FVOCI are recognised in OCI. Amounts recognised in OCI are not subsequently reclassified to the
Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised as ‘other
income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks.
Derivatives are measured at fair value. The treatment of changes in the value of derivative depends on their use
as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives
are classified as being part of cash flow hedge relationships. For an effective hedge, gains an losses from
changes in the fair value of derivatives are recognised in other comprehensive income. Any ineffective elements
of the hedge are recognised in the statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently
included within the carrying value of that asset. For other cash flow hedges, amounts accumulated in other
comprehensive income are taken to the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until
the related cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the
statement of profit and loss. If the hedged cash flow is no longer expected to occur, the cumulative gain or loss
is taken to the statement of profit and loss immediately.

Derivatives for which hedge accounting is not applied

87
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on
the date on which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is
a currently enforceable legal right to offset the recognised amounts and there is an intention to settle them on a
net basis or to realise the assets and settle the liabilities simultaneously.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial
asset expire, or it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than
financials assets in FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month
expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the
financial asset has not increased significantly since its initial recognition. The expected credit losses are
measured as lifetime expected credit losses if the credit risk on financial asset increases significantly since its
initial recognition. The Company’s trade receivables do not contain significant financing component and loss
allowance on trade receivables is measured at an amount equal to life time expected losses i.e. expected cash
shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument. Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are
classified as fair value through profit and loss. In case of trade payables, they are initially recognised at fair value
and subsequently, these liabilities are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities
carried at fair value through profit or loss are measured at fair value with all changes in fair value recognised in
the Statement of Profit and Loss.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or
expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the
best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a
current pre-tax rate that reflects the current market assessments of the time value of money and the risks
specific to the obligation. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the
amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations
under the contract exceed the economic benefits expected to be received under it, are recognized when it is
probable that an outflow of resources embodying economic benefits will be required to settle a present obligation
as a result of an obligating event based on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at
the date of the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot
rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss
arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the
gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or
loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Government grants are recognised where there is reasonable assurance that the grant will be received and all
attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income
on a systematic basis over the periods that the related costs, for which it is intended to compensate, are
expensed. When the grant relates to an asset, it is recognised along with the Asset and net asset value is
depreciated over the expected useful life of the related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value
amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of
the underlying asset [Link] equal annual installments When loans or similar assistance are provided by
governments or related institutions, with an interest rate below the current applicable market rate, the effect of
this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and
measured at fair value and the government grant is measured as the difference between the initial carrying value
of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy
applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the
Statement of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into
consideration the prevailing regulations. Income on account of purchase & using of Merchandise Exports from
India Scheme (MEIS) for payment of Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer
and when there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are
fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates
and any taxes or duties collected on behalf of the Government such as goods and services tax, etc.
Accumulated experience is used to estimate the provision for such discounts and rebates. Revenue is only
recognised to the extent that it is highly probable a significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is
made of goods that will be returned and a liability is recognised for this amount using a best estimate based on
accumulated experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the
service is performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period,
where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial
liability. When calculating the effective interest rate, the Company estimates the expected cash flows by
considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
similar options) but does not consider the expected credit losses. Interest income is included in finance income
in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a
straight-line basis over the lease terms and is included in revenue in the statement of profit or loss as Other

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme.
The Company has no obligation, other than the contribution payable to the provident fund. The Company
recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date
exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services
received before the balance sheet date, then excess is recognized as an asset to the extent that the
pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a
separately administered fund. The cost of providing benefits under defined benefit plan is determined using the
projected actuarial valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An
actuarial valuation involves making various assumptions that may differ from actual developments in the future.
These include the determination of the discount rate, future salary increases, mortality rates and attrition rate.
The company recognises the plan premium payable at the time of payment, along the effective coverage period,
which normally extends for an year. Remeasurement of liability and fund servicing cost is done by the fund
manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee
benefits. The benefits like salaries, wages, short term compensated absences etc. and the expected cost of
bonus, ex-gratia are recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation
(Amendment) Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f.
Financial Year 2019-20. The company shall comply with the conditions and shall not avail any exemptions/
incentives under different provisions of income tax as prescribed by the law. The new effective Income tax rate
@ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally
recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilised. Such deferred tax assets and
liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the
accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the
initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.

(N) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment
whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and
assessed for impairment whenever there is an indication that the intangible asset may be impaired. The
amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at
least at the end of each reporting period. Changes in the expected useful life or the expected pattern of
consumption of future economic benefits embodied in the asset are considered to modify the amortisation period
or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on
intangible assets with finite lives is recognised in the statement of profit and loss unless such expenditure forms
part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the
business less accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of
the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also
includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory
units and solar plants of the company. The aggregate lease rental paid during the year is charged to the profit
and loss account - Rs.52.20 Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with
Sipcot industrial estate with a 99 year lease agreement which is amortised over the useful life of the asset.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers
substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased
property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned
between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the
remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and
loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance
with the Company's general policy on the borrowing costs. Contingent rentals are recognised as expenses in the
periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that
the Company will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the
estimated useful life of the asset and the lease term. Operating lease payments are recognised as an expense in
the statement of profit and loss on a straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line
basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset
are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are
added to the carrying amount of the leased asset and recognised over the lease term on the same basis as
rental income Contingent rents are recognised as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer
from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at
the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to
reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to
the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity shares which could have been issued on
the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if
their conversion to equity shares would decrease the net profit per share from continuing ordinary operations.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have
been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential
equity shares are determined independently for each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as
appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment
"MEPCO" for the purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the
Act as a charge to the statement of profit and loss account.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (18)

Disclosure of significant accounting policies [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended
March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the
provisions of Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium
paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant Accounting

Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets
and liabilities that are measured at fair values at the end of each reporting period, as explained in the accounting
policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are
applied consistently to all the periods presented in the financial statements. All assets and liabilities have been
classified as current or non-current as per the Company’s normal operating cycle and other criteria as set out in
the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time
between acquisition of assets for processing and their realization in cash and cash equivalents, the Company
has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of
assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been
reflected as “0” in the relevant notes in these financial statements.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in
the application of accounting policies that affect the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates. Continuous evaluation is done on the estimation and
judgments based on historical experience and other factors, including expectations of future events that are
believed to be reasonable. Revisions to accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that
have the most significant effect to the carrying amounts of assets and liabilities within the next financial year, are
included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The
Company has considered the possible effects that may result from the pandemic like COVID-19 on the carrying
amounts of receivables, intangibles, investments and other assets. In developing the assumptions relating to the
possible future uncertainties in the economic conditions because of this pandemic, the Company has used
internal and external sources of information. The Company has reviewed the assumptions used and based on
current estimates expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both
financial and non-financial assets and liabilities. The Company has an established control framework with
respect to the measurement of fair values. The valuation team regularly reviews significant unobservable inputs
and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation
techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes,
are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.
Freehold land is not depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any Such cost includes the cost of replacing part of the plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts
of plant and equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Cost of
spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair and maintenance
costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria
for a provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated
depreciation and accumulated impairment losses. Leasehold Improvements thereon are amortized over the
primary period of lease. Depreciation on assets is provided using the straight-line method based on rates
specified in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their condition,
usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment
which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress.
Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to
use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

Estimated
Asset Category Useful
Life

Buildings 60

Factory Buildings 20

Plant & Equipment 20

Electrical Installation & Equipment 10

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Computers 3

Servers & Networks 6

Office Equipment 5

Furniture & Fixtures 10

Vehicles 10

Motor Cycles 8

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any.
Where an indication of impairment exists, the carrying amount of the investment is assessed and written down
immediately to its recoverable amount. On disposal of investments in subsidiaries and joint venture, the
difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit
and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out
basis. Cost of finished goods and work-in-progress include all costs of purchases, conversion costs and other
costs incurred in bringing the inventories to their present location and condition. The net realisable value is the
estimated selling price in the ordinary course of business less the estimated costs of completion and estimated
costs necessary to make the sale. Raw materials, packing materials and other supplies held for use in
production of inventories are not written down below cost except in cases where material prices have declined,
and it is estimated that the cost of the finished products will exceed their net realisable value. The provision for
inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid
investments with original maturities of three months or less. Bank overdrafts are shown within short-term
borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when
all of the following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for
immediate sale in its present condition. (iii) the assets are being actively marketed and (iv) sale has been agreed
or is expected to be concluded within 12 months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the
lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated
or amortised.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost are recognised in the statement of
profit and loss. In other cases, the transaction cost are attributed to the acquisition value of the financial asset.

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company
changes its business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost,
using the effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that
discounts estimated future cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income
(‘FVOCI’) or fair value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business
model for managing the financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows that are solely payments of principal and interest, are subsequently measured at
amortised cost using the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR
and loss arising from impairment, if any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets that are held within a business model whose objective is achieved by both, selling financial
assets and collecting contractual cash flows that are solely payments of principal and interest, are subsequently
measured at fair value through other comprehensive income. Fair value movements are recognized in the other
comprehensive income (OCI). Interest income measured using the EIR method and impairment losses, if any
are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously
recognised in OCI is reclassified from the equity to ‘other income’ in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets
are measured at fair value with all changes in fair value, including interest income and dividend income if any,
recognised as ‘other income’ in the Statement of Profit and Loss.

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the
Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity
instrument are recognised as other income in the Statement of Profit and Loss unless the Company has elected
to measure such instrument at FVOCI. Fair value changes excluding dividends, on an equity instrument
measured at FVOCI are recognised in OCI. Amounts recognised in OCI are not subsequently reclassified to the
Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised as ‘other
income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks.
Derivatives are measured at fair value. The treatment of changes in the value of derivative depends on their use
as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives
are classified as being part of cash flow hedge relationships. For an effective hedge, gains an losses from
changes in the fair value of derivatives are recognised in other comprehensive income. Any ineffective elements
of the hedge are recognised in the statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently
included within the carrying value of that asset. For other cash flow hedges, amounts accumulated in other
comprehensive income are taken to the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until
the related cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the
statement of profit and loss. If the hedged cash flow is no longer expected to occur, the cumulative gain or loss
is taken to the statement of profit and loss immediately.

Derivatives for which hedge accounting is not applied

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on
the date on which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is
a currently enforceable legal right to offset the recognised amounts and there is an intention to settle them on a
net basis or to realise the assets and settle the liabilities simultaneously.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial
asset expire, or it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than
financials assets in FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month
expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the
financial asset has not increased significantly since its initial recognition. The expected credit losses are
measured as lifetime expected credit losses if the credit risk on financial asset increases significantly since its
initial recognition. The Company’s trade receivables do not contain significant financing component and loss
allowance on trade receivables is measured at an amount equal to life time expected losses i.e. expected cash
shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument. Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are
classified as fair value through profit and loss. In case of trade payables, they are initially recognised at fair value
and subsequently, these liabilities are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities
carried at fair value through profit or loss are measured at fair value with all changes in fair value recognised in
the Statement of Profit and Loss.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or
expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the
best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a
current pre-tax rate that reflects the current market assessments of the time value of money and the risks
specific to the obligation. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the
amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations
under the contract exceed the economic benefits expected to be received under it, are recognized when it is
probable that an outflow of resources embodying economic benefits will be required to settle a present obligation
as a result of an obligating event based on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at
the date of the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot
rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss
arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the
gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or
loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Government grants are recognised where there is reasonable assurance that the grant will be received and all
attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income
on a systematic basis over the periods that the related costs, for which it is intended to compensate, are
expensed. When the grant relates to an asset, it is recognised along with the Asset and net asset value is
depreciated over the expected useful life of the related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value
amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of
the underlying asset [Link] equal annual installments When loans or similar assistance are provided by
governments or related institutions, with an interest rate below the current applicable market rate, the effect of
this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and
measured at fair value and the government grant is measured as the difference between the initial carrying value
of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy
applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the
Statement of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into
consideration the prevailing regulations. Income on account of purchase & using of Merchandise Exports from
India Scheme (MEIS) for payment of Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer
and when there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are
fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates
and any taxes or duties collected on behalf of the Government such as goods and services tax, etc.
Accumulated experience is used to estimate the provision for such discounts and rebates. Revenue is only
recognised to the extent that it is highly probable a significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is
made of goods that will be returned and a liability is recognised for this amount using a best estimate based on
accumulated experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the
service is performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period,
where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial
liability. When calculating the effective interest rate, the Company estimates the expected cash flows by
considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
similar options) but does not consider the expected credit losses. Interest income is included in finance income
in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a
straight-line basis over the lease terms and is included in revenue in the statement of profit or loss as Other

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme.
The Company has no obligation, other than the contribution payable to the provident fund. The Company
recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date
exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services
received before the balance sheet date, then excess is recognized as an asset to the extent that the
pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a
separately administered fund. The cost of providing benefits under defined benefit plan is determined using the
projected actuarial valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An
actuarial valuation involves making various assumptions that may differ from actual developments in the future.
These include the determination of the discount rate, future salary increases, mortality rates and attrition rate.
The company recognises the plan premium payable at the time of payment, along the effective coverage period,
which normally extends for an year. Remeasurement of liability and fund servicing cost is done by the fund
manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee
benefits. The benefits like salaries, wages, short term compensated absences etc. and the expected cost of
bonus, ex-gratia are recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation
(Amendment) Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f.
Financial Year 2019-20. The company shall comply with the conditions and shall not avail any exemptions/
incentives under different provisions of income tax as prescribed by the law. The new effective Income tax rate
@ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally
recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilised. Such deferred tax assets and
liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the
accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the
initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.

(N) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment
whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and
assessed for impairment whenever there is an indication that the intangible asset may be impaired. The
amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at
least at the end of each reporting period. Changes in the expected useful life or the expected pattern of
consumption of future economic benefits embodied in the asset are considered to modify the amortisation period
or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on
intangible assets with finite lives is recognised in the statement of profit and loss unless such expenditure forms
part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the
business less accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of
the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also
includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory
units and solar plants of the company. The aggregate lease rental paid during the year is charged to the profit
and loss account - Rs.52.20 Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with
Sipcot industrial estate with a 99 year lease agreement which is amortised over the useful life of the asset.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers
substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased
property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned
between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the
remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and
loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance
with the Company's general policy on the borrowing costs. Contingent rentals are recognised as expenses in the
periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that
the Company will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the
estimated useful life of the asset and the lease term. Operating lease payments are recognised as an expense in
the statement of profit and loss on a straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line
basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset
are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are
added to the carrying amount of the leased asset and recognised over the lease term on the same basis as
rental income Contingent rents are recognised as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer
from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at
the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to
reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to
the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity shares which could have been issued on
the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if
their conversion to equity shares would decrease the net profit per share from continuing ordinary operations.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have
been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential
equity shares are determined independently for each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as
appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment
"MEPCO" for the purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the
Act as a charge to the statement of profit and loss account.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (19)

Description of accounting policy for government grants [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year

ended March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and
incorporated under the provisions of Companies Act, 1956. The Company manufactures various
non-ferrous metal powders, Aluminium paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant

Accounting Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended
from time to time).

The standalone financial statements have been prepared on the historical cost basis except for
certain assets and liabilities that are measured at fair values at the end of each reporting period, as
explained in the accounting policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting
policies are applied consistently to all the periods presented in the financial statements. All assets
and liabilities have been classified as current or non-current as per the Company’s normal
operating cycle and other criteria as set out in the Division II of Schedule III to the Companies Act,
2013. Based on the nature of products and the time between acquisition of assets for processing
and their realization in cash and cash equivalents, the Company has ascertained its operating
cycle as 12 months for the purpose of current or non-current classification of assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have
been reflected as “0” in the relevant notes in these financial statements.

(b) Basis of Measurement

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

These financial statements are prepared under the historical cost convention unless otherwise
indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and
assumptions in the application of accounting policies that affect the reported amounts of assets,
liabilities, income and expenses. Actual results may differ from these estimates. Continuous
evaluation is done on the estimation and judgments based on historical experience and other
factors, including expectations of future events that are believed to be reasonable. Revisions to
accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and
assumptions that have the most significant effect to the carrying amounts of assets and liabilities
within the next financial year, are included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural
calamities: The Company has considered the possible effects that may result from the pandemic
like COVID-19 on the carrying amounts of receivables, intangibles, investments and other assets.
In developing the assumptions relating to the possible future uncertainties in the economic
conditions because of this pandemic, the Company has used internal and external sources of
information. The Company has reviewed the assumptions used and based on current estimates
expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair
values, for both financial and non-financial assets and liabilities. The Company has an established
control framework with respect to the measurement of fair values. The valuation team regularly
reviews significant unobservable inputs and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used
in the valuation techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data
(unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data
as far as possible. If the inputs used to measure the fair value of an asset or a liability fall into
different levels of the fair value hierarchy, then the fair value measurement is categorised in its
entirety in the same level of the fair value hierarchy as the lowest level input that is significant to
the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for
administrative purposes, are stated in the balance sheet at cost less accumulated depreciation and
accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is stated at
cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost
includes the cost of replacing part of the plant and equipment and borrowing costs for long-term
construction projects if the recognition criteria are met. When significant parts of plant and
equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is
recognised in the carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is
capitalized. All other repair and maintenance costs are recognised in profit or loss as incurred. The
present value of the expected cost for the decommissioning of an asset after its use is included in
the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and
fixtures, Office equipments are stated at cost less accumulated depreciation and accumulated
impairment losses. Leasehold Improvements thereon are amortized over the primary period of
lease. Depreciation on assets is provided using the straight-line method based on rates specified
in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their
condition, usability etc. as per the technical estimates of the Management, where necessary.
Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet
are disclosed as Capital Work-in-progress. Capital Work-in-Progress are carried at cost. No
depreciation is applied on CWIP, since the asset is not put to use. The estimated useful lives
considered for depreciation / amortization of fixed assets are as follows:

Estimated
Asset
[Link]. Useful
Category
Life

1 Buildings 60

Factory
2 20
Buildings

Plant &
3 20
Equipment

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Electrical
4 Installation 10
&
Equipment

5 Computers 3

Servers &
6 6
Networks

Office
7 5
Equipment

Furniture
8 10
& Fixtures

9 Vehicles 10

Motor
10 8
Cycles

(B) Investments in Subsidiaries and Joint Venture:

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (20)

Description of accounting policy for government grants [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended March 31,
2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the provisions of
Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium paste, oxides and AAC
Blocks.

2. Basis of Preparation, Measurement and Significant Accounting Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the
Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets and liabilities
that are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied
consistently to all the periods presented in the financial statements. All assets and liabilities have been classified as current
or non-current as per the Company’s normal operating cycle and other criteria as set out in the Division II of Schedule III to
the Companies Act, 2013. Based on the nature of products and the time between acquisition of assets for processing and
their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose
of current or non-current classification of assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been reflected as “0” in
the relevant notes in these financial statements.

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in the
application of accounting policies that affect the reported amounts of assets, liabilities, income and expenses. Actual results
may differ from these estimates. Continuous evaluation is done on the estimation and judgments based on historical
experience and other factors, including expectations of future events that are believed to be reasonable. Revisions to
accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that have the most
significant effect to the carrying amounts of assets and liabilities within the next financial year, are included in the following
notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The Company has
considered the possible effects that may result from the pandemic like COVID-19 on the carrying amounts of receivables,
intangibles, investments and other assets. In developing the assumptions relating to the possible future uncertainties in the
economic conditions because of this pandemic, the Company has used internal and external sources of information. The
Company has reviewed the assumptions used and based on current estimates expects the carrying amount of these assets
will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both financial and
non-financial assets and liabilities. The Company has an established control framework with respect to the measurement of
fair values. The valuation team regularly reviews significant unobservable inputs and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques
as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e.
as prices) or indirectly (i.e. derived from prices).

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. If the
inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair
value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is
significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in
the balance sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not
depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if
any Such cost includes the cost of replacing part of the plant and equipment and borrowing costs for long-term construction
projects if the recognition criteria are met. When significant parts of plant and equipment are required to be replaced at
intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is
performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a
provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated depreciation and
accumulated impairment losses. Leasehold Improvements thereon are amortized over the primary period of lease.
Depreciation on assets is provided using the straight-line method based on rates specified in Schedule II to the Companies
Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher Depreciation is also
accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management, where
necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed
as Capital Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the
asset is not put to use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

10

(B) Investments in Subsidiaries and Joint Venture:

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any. Where an
indication of impairment exists, the carrying amount of the investment is assessed and written down immediately to its
recoverable amount. On disposal of investments in subsidiaries and joint venture, the difference between net disposal
proceeds and the carrying amounts are recognized in the Statement of Profit and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out basis. Cost of
finished goods and work-in-progress include all costs of purchases, conversion costs and other costs incurred in bringing the
inventories to their present location and condition. The net realisable value is the estimated selling price in the ordinary
course of business less the estimated costs of completion and estimated costs necessary to make the sale. Raw materials,
packing materials and other supplies held for use in production of inventories are not written down below cost except in cases
where material prices have declined, and it is estimated that the cost of the finished products will exceed their net realisable
value. The provision for inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid investments
with original maturities of three months or less. Bank overdrafts are shown within short-term borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when all of the
following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for immediate sale in its present
condition. (iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be concluded within 12
months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the lower of its
carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised.

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are recognised at fair
value through profit and loss (FVTPL), its transaction cost are recognised in the statement of profit and loss. In other cases,
the transaction cost are attributed to the acquisition value of the financial asset.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company changes its
business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost, using the
effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that discounts estimated future
cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income (‘FVOCI’) or fair
value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business model for managing the
financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to collect
contractual cash flows that are solely payments of principal and interest, are subsequently measured at amortised cost using
the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR and loss arising from impairment, if
any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and
collecting contractual cash flows that are solely payments of principal and interest, are subsequently measured at fair value
through other comprehensive income. Fair value movements are recognized in the other comprehensive income (OCI).
Interest income measured using the EIR method and impairment losses, if any are recognised in the Statement of Profit and
Loss. On derecognition, cumulative gain or loss previously recognised in OCI is reclassified from the equity to ‘other income’
in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets are
measured at fair value with all changes in fair value, including interest income and dividend income if any, recognised as
‘other income’ in the Statement of Profit and Loss.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the Company may,
on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity instrument are
recognised as other income in the Statement of Profit and Loss unless the Company has elected to measure such instrument
at FVOCI. Fair value changes excluding dividends, on an equity instrument measured at FVOCI are recognised in OCI.
Amounts recognised in OCI are not subsequently reclassified to the Statement of Profit and Loss. Dividend income on the
investments in equity instruments are recognised as ‘other income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks. Derivatives are
measured at fair value. The treatment of changes in the value of derivative depends on their use as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives are classified
as being part of cash flow hedge relationships. For an effective hedge, gains an losses from changes in the fair value of
derivatives are recognised in other comprehensive income. Any ineffective elements of the hedge are recognised in the
statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently included within the
carrying value of that asset. For other cash flow hedges, amounts accumulated in other comprehensive income are taken to
the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until the related
cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the statement of profit and loss. If
the hedged cash flow is no longer expected to occur, the cumulative gain or loss is taken to the statement of profit and loss
immediately.

Derivatives for which hedge accounting is not applied

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on the date on
which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is a currently
enforceable legal right to offset the recognised amounts and there is an intention to settle them on a net basis or to realise
the assets and settle the liabilities simultaneously.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or
it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financials assets in
FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month expected credit
losses for all originated or acquired financial assets if at the reporting date the credit risk of the financial asset has not
increased significantly since its initial recognition. The expected credit losses are measured as lifetime expected credit losses
if the credit risk on financial asset increases significantly since its initial recognition. The Company’s trade receivables do not
contain significant financing component and loss allowance on trade receivables is measured at an amount equal to life time
expected losses i.e. expected cash shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value
through profit and loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities
are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair
value through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and
Loss.

Derecognition

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a current
pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of
the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations under the
contract exceed the economic benefits expected to be received under it, are recognized when it is probable that an outflow of
resources embodying economic benefits will be required to settle a present obligation as a result of an obligating event based
on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at the date of the
transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of
exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange
rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated
using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of
non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value
of the item (i.e., translation differences on items whose fair value gain or loss is recognised in OCI or profit or loss are also
recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached
conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis
over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an
asset, it is recognised along with the Asset and net asset value is depreciated over the expected useful life of the related
asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and
released to profit or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset [Link]
equal annual installments When loans or similar assistance are provided by governments or related institutions, with an
interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant.
The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the
difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as
per the accounting policy applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the Statement
of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into consideration the prevailing
regulations. Income on account of purchase & using of Merchandise Exports from India Scheme (MEIS) for payment of

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer and when
there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are fulfilled at the time of
dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates and any taxes
or duties collected on behalf of the Government such as goods and services tax, etc. Accumulated experience is used to
estimate the provision for such discounts and rebates. Revenue is only recognised to the extent that it is highly probable a
significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is made of
goods that will be returned and a liability is recognised for this amount using a best estimate based on accumulated
experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the service is
performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future
cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
gross carrying amount of the financial asset or to the amortised cost of a financial liability. When calculating the effective
interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial
instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses.
Interest income is included in finance income in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a straight-line basis over
the lease terms and is included in revenue in the statement of profit or loss as Other Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme. The
Company has no obligation, other than the contribution payable to the provident fund. The Company recognizes contribution
payable to the provident fund scheme as an expense, when an employee renders the related service. If the contribution
payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

payable to the scheme is recognized as a liability after deducting the contribution already paid. If the contribution already paid
exceeds the contribution due for services received before the balance sheet date, then excess is recognized as an asset to
the extent that the pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a separately
administered fund. The cost of providing benefits under defined benefit plan is determined using the projected actuarial
valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An actuarial valuation involves making
various assumptions that may differ from actual developments in the future. These include the determination of the discount
rate, future salary increases, mortality rates and attrition rate. The company recognises the plan premium payable at the time
of payment, along the effective coverage period, which normally extends for an year. Remeasurement of liability and fund
servicing cost is done by the fund manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee benefits.
The benefits like salaries, wages, short term compensated absences etc. and the expected cost of bonus, ex-gratia are
recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation (Amendment)
Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f. Financial Year 2019-20. The
company shall comply with the conditions and shall not avail any exemptions/ incentives under different provisions of income
tax as prescribed by the law. The new effective Income tax rate @ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the Financial
Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from
the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises
from the initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of
the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in
which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and
liabilities.

(N) Intangible assets

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible
assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Intangible assets with
finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the
intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite
useful life are reviewed at least at the end of each reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and assessed for
impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period.
Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the
asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting
estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit and loss
unless such expenditure forms part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less
accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of the asset. All other
borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an
entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent
regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory units and solar
plants of the company. The aggregate lease rental paid during the year is charged to the profit and loss account - Rs.52.20
Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with Sipcot industrial estate with a 99 year lease
agreement which is amortised over the useful life of the asset.

Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the
risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased property or, if
lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and
reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance
charges are recognised in finance costs in the statement of profit and loss, unless they are directly attributable to qualifying
assets, in which case they are capitalized in accordance with the Company's general policy on the borrowing costs.
Contingent rentals are recognised as expenses in the periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Company
will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the
asset and the lease term. Operating lease payments are recognised as an expense in the statement of profit and loss on a
straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line basis over the

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified
as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant
lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the
leased asset and recognised over the lease term on the same basis as rental income Contingent rents are recognised as
revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the
Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Company's net
investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of
return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for
the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flows from operating, investing and financing activities of the Company are segregated based on the available
information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is
computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for
dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted
average number of equity shares considered for deriving basic earnings per share and the weighted average number of
equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares
are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing
ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless
they have been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential equity
shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity
shares are adjusted for share splits / reverse share splits and bonus shares, as appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment "MEPCO" for the
purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the Act as a
charge to the statement of profit and loss account.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[610200] Notes - Corporate information and statement of IndAs compliance

Disclosure of reclassifications or changes in presentation [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Reclassified items [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of reclassifications or changes in presentation [Abstract]
Disclosure of reclassifications or changes in presentation [Line items]
Description of nature of reclassifications or changes in presentation fdyhrteyt grfyreyre
Amount of reclassifications or changes in presentation 60,000 45,000
Description of reason for reclassifications or changes in presentation htey5ey5e teeyryry

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of corporate information notes and other explanatory information
[TextBlock]
Textual information (21) Textual information (22)
Statement of Ind AS compliance [TextBlock] [See below] [See below]
Whether there is any departure from Ind AS Yes Yes

Management conclusion on fair presentation as consequence of departure GEGTWRGTREGT WRYFDYREYR

Explanation of departure from Ind AS FSGRYTRTR TWRETWT

Explanation of financial effect of departure from Ind AS RTWRTW4T FGWRGTRT

Explanation of nature of requirement in Ind AS and

conclusion why requirement is in conflict with objective GEYRTEYRT HFDFG
of financial statements set out in Framework
Explanation of adjustments that would be necessary to achieve fair
GRYREYTRYTRT FTRTRTRT
presentation

Disclosure of uncertainties of entity's ability to continue as going

YTEYTEYJT JYTUTYTYT
concern [TextBlock]

Explanation of fact and basis for preparation of financial

HDYRTEYRETT YTEYRETYRT
statements when not going concern basis

Explanation of why entity not regarded as going concern HTEYTENYTEY YTEYREYTRE

Description of reason for using longer or shorter reporting period TRTWRTRT YTEYEYREY

Description of fact that amounts presented in financial statements

DHDYHTDYD HDYHREYRE
are not entirely comparable
Whether there are reclassifications to comparative amounts Yes Yes
Disclosure of reclassifications or changes in presentation [TextBlock]
Description of reason why reclassification of comparative amounts is Textual information (23) Textual information (24)
impracticable [See below] [See below]
Description of nature of necessary adjustments to provide comparative Textual information (25) Textual information (26)
information [See below] [See below]
Disclosure of amounts to be recovered or
settled after twelve months for classes
of assets and liabilities that contain Textual information (27) Textual information (28)
amounts to be recovered or settled both no [See below] [See below]
more and more than twelve months after
reporting date [TextBlock]
Textual information (29) Textual information (30)
Disclosure of significant accounting policies [TextBlock] [See below] [See below]

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (21)

Statement of Ind AS compliance [Text Block]

• As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure-A, a statement on the matters specified in paragraphs 3 and 4 of the
Order to the extent applicable.

• (A) As required by section 143(3) of the Act, we report that:

• We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit;
• In our opinion proper books of account as required by law have been kept by the Company so far as it appears from our examination of
those books.
• The standalone balance sheet, the standalone statement of profit and loss (including other comprehensive income), the standalone statement
of changes in, equity and the standalone statement of cash flows dealt with by this Report are in agreement with the books of account.
• In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards (Ind AS) specified under Section 133 of the
Act;
• On the basis of written representations received from the directors as on March 31, 2023, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2023, from being appointed as a director in terms of section 164(2) of the Act; .
• With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of
such controls, refer to our separate report in Annexure B. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls over financial reporting;

(B) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

• The Company has disclosed the impact of pending litigations as at March 31, 2023 on its financial position in its standalone financial
statements - Refer to Note 31 to the standalone financial statements. There are no long-term contracts for which provisions need to be made.
• The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as at
31st March 2023.
• There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

• (i) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by
the Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding, whether recorded in
writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.
• The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been received by the Company from any person or entity, including foreign entity (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries;
• Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to the notice
that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain
any material misstatement.
• The dividend declared and paid during the year by the Company is in compliance with Section 123 of the Act.

(C) With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act:

In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during
the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in excess of the
limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the
Act which are required to be commented upon by us.

128
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (22)

Statement of Ind AS compliance [Text Block]

• As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure-A, a statement on the matters specified in paragraphs 3 and 4 of the
Order to the extent applicable.

• (A) As required by section 143(3) of the Act, we report that:

• We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit;
• In our opinion proper books of account as required by law have been kept by the Company so far as it appears from our examination of
those books.
• The standalone balance sheet, the standalone statement of profit and loss (including other comprehensive income), the standalone statement
of changes in, equity and the standalone statement of cash flows dealt with by this Report are in agreement with the books of account.
• In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards (Ind AS) specified under Section 133 of the
Act;
• On the basis of written representations received from the directors as on March 31, 2023, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2023, from being appointed as a director in terms of section 164(2) of the Act; .
• With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of
such controls, refer to our separate report in Annexure B. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls over financial reporting;

(B) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

• The Company has disclosed the impact of pending litigations as at March 31, 2023 on its financial position in its standalone financial
statements - Refer to Note 31 to the standalone financial statements. There are no long-term contracts for which provisions need to be made.
• The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as at
31st March 2023.
• There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

• (i) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by
the Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding, whether recorded in
writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.
• The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been received by the Company from any person or entity, including foreign entity (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries;
• Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to the notice
that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain
any material misstatement.
• The dividend declared and paid during the year by the Company is in compliance with Section 123 of the Act.

(C) With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act:

In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during
the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in excess of the
limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the
Act which are required to be commented upon by us.

129
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (23)

Description of reason why reclassification of comparative amounts is impracticable

• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

130
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

131
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

132
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

133
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (24)

Description of reason why reclassification of comparative amounts is impracticable

• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

134
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

135
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

136
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

137
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (25)

Description of nature of necessary adjustments to provide comparative information

• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

138
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

139
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

140
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

141
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (26)

Description of nature of necessary adjustments to provide comparative information

• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

142
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

143
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

144
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

145
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (27)

Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that
contain amounts to be recovered or settled both no more and more than twelve months after reporting date [Text
Block]
• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

146
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

147
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (28)

Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that
contain amounts to be recovered or settled both no more and more than twelve months after reporting date [Text
Block]
• In respect of Company’s Property , Plant and Equipment:
• (A) The company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and
Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has a regular program of physical verification of its property, plant and equipment by which all property, plant and equipment are verified in
a phased manner over a period of three years. In accordance with this program, certain properties, plant and equipment were verified during
the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its
assets. No material discrepancies were noticed on such verification.
• According to the information and explanations given to us and on the basis of our examinations of the records of the company, the title
deeds of immovable properties are held in the name of the Company.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no
proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.

• (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is
reasonable. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the
size of the company and the nature of its business. On the basis of our examination of the records of inventory, we are of the opinion that the
company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book
records were not material.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the
basis of the security of current assets at any point of time during the year. Accordingly, the quarterly statements filed with such banks and
financial institutions are in agree with the books of accounts of the company.

• (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to
companies, firms, limited liability partnership or any other parties during the year. The Company has made investments in companies and
other parties, in respect of which the requisite information is as below. The Company has not made any investments in firms and limited
liability partnerships.

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that
the investments made during the year are, prima facie, not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not given any loans and advances in the nature of loans to any party during the year. Accordingly, provisions of clauses
3(iii)(c) to (f) of the Order are not applicable to the Company.

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies
Act, 2013 (“the Act”) and the Company has not provided any security as specified under Section 186 of the Act. Further, in our opinion, the
Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made.
• During the year the company has not accepted deposits from the public. Therefore, paragraph 3 (v) of the Order is not applicable to the
Company.
• We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government of
India, the maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that, prima facie the
prescribed accounts and records been made and maintained . We have not made a detailed examination of records whether they are accurate
and complete.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Provident Fund,
Employees’ State Insurance, Income-Tax, Goods and Services Tax (GST), Duty of Customs, Duty of Excise, Value added Tax, Cess and any
other statutory dues to the appropriate authorities.

(b) According to the information and explanation given to us, no undisputed amounts payable in respect of Provident Fund, Employees’ State
Insurance, Income-Tax, Goods and Services Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other material statutory
dues were in arrears as at 31st March 2023 for a period of more than six months from the date they became payable.

(c) The disputed statutory dues aggregating to Rs. 565.91 lacs, that have not been deposited on account of matters pending before appropriate
authorities are as under:

Period
to
which
Amount
S. Name of Forum where
the Nature of the Dues the
(Rs. in
No. statute amount Dispute is pending
lacs)
relates
(Asst.
Year)

Additional
Commissioner
(Appeals), Zone VI,
2007-08
Delhi VAT New Delhi has
Sales Tax, interest and Penalty 28.10
Act, 2002 remitted back the
matter to VATO to
frame fresh
assessment order.

Sales
Sales Tax, and penalty
Tax, and
penalty
under
TNVAT
Act,2006

70.49 2008-09

The case was decided by the Appellate Deputy

Commissioner (CT) in Company’s favour. The
57.76 2012-13 department has filed Appeal with the Sales Tax
Appellate Tribunal Madurai. Pre-deposit of 25% of
demand has been made on appeal.

4.90 2013-14

• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the
Income Tax Act, 1961 as income during the year.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

• 1. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not been declared a wilful defaulter by any bank or financial institution or government or government authority.
• In our opinion and according to the information and explanations given to us by the management, the Company has not obtained any term
loans during the year.
• According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long-term purposes by the Company.
• According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we
report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, as
defined in the Act. The Company does not hold any investment in any associate or joint venture (as defined in the Act) during the year ended
31st March 2023.
• According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised
loans during the year on the pledge of securities held in its subsidiaries (as defined under the Act).

• (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) Accordingly,
clause 3(x)(a) of the Order is not applicable.
• According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly,
clause 3(x)(b) of the Order is not applicable.

• (a) Based on examination of the books and records of the Company and according to the information and explanations given to us,
considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company
has been noticed or reported during the course of the audit.
• According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the
auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.
• We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature,
timing and extent of our audit procedures.

• In our opinion and according to the information and explanations are given to us, the Company is not a nidhi company. Accordingly,
paragraph 3(xii) of the Order is not applicable to the Company.

• According to the information and explanations given to us and based on our examination of the records of the Company, transactions with
the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been
disclosed in the financial statements etc., as required by the applicable accounting standards.

• (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit
system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not entered into non-cash transactions with directors or persons connected to its directors and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable to the Company.

• (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clauses
3(xvi)(a) and 3(xvi)(b) of the Order are not applicable.

(b) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
clause 3(xvi)(c) of the Order is not applicable.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(c) According to the information and explanations provided to us during the course of audit, the Group does not have any CICs.

• The Company has not incurred cash losses in the current and in the immediately preceding financial year.

• There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

• According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization
of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board
of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our
attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the
facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they fall due.

• In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of section
135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (29)

Disclosure of significant accounting policies [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended
March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the
provisions of Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium
paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant Accounting

Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets
and liabilities that are measured at fair values at the end of each reporting period, as explained in the accounting
policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are
applied consistently to all the periods presented in the financial statements. All assets and liabilities have been
classified as current or non-current as per the Company’s normal operating cycle and other criteria as set out in
the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time
between acquisition of assets for processing and their realization in cash and cash equivalents, the Company
has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of
assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been
reflected as “0” in the relevant notes in these financial statements.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in
the application of accounting policies that affect the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates. Continuous evaluation is done on the estimation and
judgments based on historical experience and other factors, including expectations of future events that are
believed to be reasonable. Revisions to accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that
have the most significant effect to the carrying amounts of assets and liabilities within the next financial year, are
included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The
Company has considered the possible effects that may result from the pandemic like COVID-19 on the carrying
amounts of receivables, intangibles, investments and other assets. In developing the assumptions relating to the
possible future uncertainties in the economic conditions because of this pandemic, the Company has used
internal and external sources of information. The Company has reviewed the assumptions used and based on
current estimates expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both
financial and non-financial assets and liabilities. The Company has an established control framework with
respect to the measurement of fair values. The valuation team regularly reviews significant unobservable inputs
and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation
techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes,
are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.
Freehold land is not depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any Such cost includes the cost of replacing part of the plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts
of plant and equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Cost of
spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair and maintenance
costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria
for a provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated
depreciation and accumulated impairment losses. Leasehold Improvements thereon are amortized over the
primary period of lease. Depreciation on assets is provided using the straight-line method based on rates
specified in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their condition,
usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment
which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress.
Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to
use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

Estimated
Asset Category Useful
Life

Buildings 60

Factory Buildings 20

Plant & Equipment 20

Electrical Installation & Equipment 10

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Computers 3

Servers & Networks 6

Office Equipment 5

Furniture & Fixtures 10

Vehicles 10

Motor Cycles 8

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any.
Where an indication of impairment exists, the carrying amount of the investment is assessed and written down
immediately to its recoverable amount. On disposal of investments in subsidiaries and joint venture, the
difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit
and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out
basis. Cost of finished goods and work-in-progress include all costs of purchases, conversion costs and other
costs incurred in bringing the inventories to their present location and condition. The net realisable value is the
estimated selling price in the ordinary course of business less the estimated costs of completion and estimated
costs necessary to make the sale. Raw materials, packing materials and other supplies held for use in
production of inventories are not written down below cost except in cases where material prices have declined,
and it is estimated that the cost of the finished products will exceed their net realisable value. The provision for
inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid
investments with original maturities of three months or less. Bank overdrafts are shown within short-term
borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when
all of the following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for
immediate sale in its present condition. (iii) the assets are being actively marketed and (iv) sale has been agreed
or is expected to be concluded within 12 months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the
lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated
or amortised.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost are recognised in the statement of
profit and loss. In other cases, the transaction cost are attributed to the acquisition value of the financial asset.

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company
changes its business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost,
using the effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that
discounts estimated future cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income
(‘FVOCI’) or fair value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business
model for managing the financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows that are solely payments of principal and interest, are subsequently measured at
amortised cost using the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR
and loss arising from impairment, if any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets that are held within a business model whose objective is achieved by both, selling financial
assets and collecting contractual cash flows that are solely payments of principal and interest, are subsequently
measured at fair value through other comprehensive income. Fair value movements are recognized in the other
comprehensive income (OCI). Interest income measured using the EIR method and impairment losses, if any
are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously
recognised in OCI is reclassified from the equity to ‘other income’ in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets
are measured at fair value with all changes in fair value, including interest income and dividend income if any,
recognised as ‘other income’ in the Statement of Profit and Loss.

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the
Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity
instrument are recognised as other income in the Statement of Profit and Loss unless the Company has elected
to measure such instrument at FVOCI. Fair value changes excluding dividends, on an equity instrument
measured at FVOCI are recognised in OCI. Amounts recognised in OCI are not subsequently reclassified to the
Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised as ‘other
income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks.
Derivatives are measured at fair value. The treatment of changes in the value of derivative depends on their use
as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives
are classified as being part of cash flow hedge relationships. For an effective hedge, gains an losses from
changes in the fair value of derivatives are recognised in other comprehensive income. Any ineffective elements
of the hedge are recognised in the statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently
included within the carrying value of that asset. For other cash flow hedges, amounts accumulated in other
comprehensive income are taken to the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until
the related cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the
statement of profit and loss. If the hedged cash flow is no longer expected to occur, the cumulative gain or loss
is taken to the statement of profit and loss immediately.

Derivatives for which hedge accounting is not applied

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on
the date on which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is
a currently enforceable legal right to offset the recognised amounts and there is an intention to settle them on a
net basis or to realise the assets and settle the liabilities simultaneously.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial
asset expire, or it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than
financials assets in FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month
expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the
financial asset has not increased significantly since its initial recognition. The expected credit losses are
measured as lifetime expected credit losses if the credit risk on financial asset increases significantly since its
initial recognition. The Company’s trade receivables do not contain significant financing component and loss
allowance on trade receivables is measured at an amount equal to life time expected losses i.e. expected cash
shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument. Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are
classified as fair value through profit and loss. In case of trade payables, they are initially recognised at fair value
and subsequently, these liabilities are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities
carried at fair value through profit or loss are measured at fair value with all changes in fair value recognised in
the Statement of Profit and Loss.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or
expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the
best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a
current pre-tax rate that reflects the current market assessments of the time value of money and the risks
specific to the obligation. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the
amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations
under the contract exceed the economic benefits expected to be received under it, are recognized when it is
probable that an outflow of resources embodying economic benefits will be required to settle a present obligation
as a result of an obligating event based on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at
the date of the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot
rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss
arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the
gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or
loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Government grants are recognised where there is reasonable assurance that the grant will be received and all
attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income
on a systematic basis over the periods that the related costs, for which it is intended to compensate, are
expensed. When the grant relates to an asset, it is recognised along with the Asset and net asset value is
depreciated over the expected useful life of the related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value
amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of
the underlying asset [Link] equal annual installments When loans or similar assistance are provided by
governments or related institutions, with an interest rate below the current applicable market rate, the effect of
this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and
measured at fair value and the government grant is measured as the difference between the initial carrying value
of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy
applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the
Statement of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into
consideration the prevailing regulations. Income on account of purchase & using of Merchandise Exports from
India Scheme (MEIS) for payment of Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer
and when there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are
fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates
and any taxes or duties collected on behalf of the Government such as goods and services tax, etc.
Accumulated experience is used to estimate the provision for such discounts and rebates. Revenue is only
recognised to the extent that it is highly probable a significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is
made of goods that will be returned and a liability is recognised for this amount using a best estimate based on
accumulated experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the
service is performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period,
where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial
liability. When calculating the effective interest rate, the Company estimates the expected cash flows by
considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
similar options) but does not consider the expected credit losses. Interest income is included in finance income
in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a
straight-line basis over the lease terms and is included in revenue in the statement of profit or loss as Other

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme.
The Company has no obligation, other than the contribution payable to the provident fund. The Company
recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date
exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services
received before the balance sheet date, then excess is recognized as an asset to the extent that the
pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a
separately administered fund. The cost of providing benefits under defined benefit plan is determined using the
projected actuarial valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An
actuarial valuation involves making various assumptions that may differ from actual developments in the future.
These include the determination of the discount rate, future salary increases, mortality rates and attrition rate.
The company recognises the plan premium payable at the time of payment, along the effective coverage period,
which normally extends for an year. Remeasurement of liability and fund servicing cost is done by the fund
manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee
benefits. The benefits like salaries, wages, short term compensated absences etc. and the expected cost of
bonus, ex-gratia are recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation
(Amendment) Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f.
Financial Year 2019-20. The company shall comply with the conditions and shall not avail any exemptions/
incentives under different provisions of income tax as prescribed by the law. The new effective Income tax rate
@ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

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liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally
recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilised. Such deferred tax assets and
liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a

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business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the
accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the
initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.

(N) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment
whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and
assessed for impairment whenever there is an indication that the intangible asset may be impaired. The
amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at
least at the end of each reporting period. Changes in the expected useful life or the expected pattern of
consumption of future economic benefits embodied in the asset are considered to modify the amortisation period
or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on
intangible assets with finite lives is recognised in the statement of profit and loss unless such expenditure forms
part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the
business less accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of
the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also
includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory
units and solar plants of the company. The aggregate lease rental paid during the year is charged to the profit
and loss account - Rs.52.20 Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with
Sipcot industrial estate with a 99 year lease agreement which is amortised over the useful life of the asset.

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Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers
substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased
property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned
between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the
remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and
loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance
with the Company's general policy on the borrowing costs. Contingent rentals are recognised as expenses in the
periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that
the Company will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the
estimated useful life of the asset and the lease term. Operating lease payments are recognised as an expense in
the statement of profit and loss on a straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line
basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset
are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are
added to the carrying amount of the leased asset and recognised over the lease term on the same basis as
rental income Contingent rents are recognised as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer
from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at
the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to
reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to
the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity shares which could have been issued on
the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if
their conversion to equity shares would decrease the net profit per share from continuing ordinary operations.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have
been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential
equity shares are determined independently for each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as
appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment
"MEPCO" for the purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the
Act as a charge to the statement of profit and loss account.

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Textual information (30)

Disclosure of significant accounting policies [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended
March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the
provisions of Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium
paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant Accounting

Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets
and liabilities that are measured at fair values at the end of each reporting period, as explained in the accounting
policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are
applied consistently to all the periods presented in the financial statements. All assets and liabilities have been
classified as current or non-current as per the Company’s normal operating cycle and other criteria as set out in
the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time
between acquisition of assets for processing and their realization in cash and cash equivalents, the Company
has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of
assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been
reflected as “0” in the relevant notes in these financial statements.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in
the application of accounting policies that affect the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates. Continuous evaluation is done on the estimation and
judgments based on historical experience and other factors, including expectations of future events that are
believed to be reasonable. Revisions to accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that
have the most significant effect to the carrying amounts of assets and liabilities within the next financial year, are
included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The
Company has considered the possible effects that may result from the pandemic like COVID-19 on the carrying
amounts of receivables, intangibles, investments and other assets. In developing the assumptions relating to the
possible future uncertainties in the economic conditions because of this pandemic, the Company has used
internal and external sources of information. The Company has reviewed the assumptions used and based on
current estimates expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both
financial and non-financial assets and liabilities. The Company has an established control framework with
respect to the measurement of fair values. The valuation team regularly reviews significant unobservable inputs
and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation
techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes,
are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.
Freehold land is not depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any Such cost includes the cost of replacing part of the plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts
of plant and equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Cost of
spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair and maintenance
costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria
for a provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated
depreciation and accumulated impairment losses. Leasehold Improvements thereon are amortized over the
primary period of lease. Depreciation on assets is provided using the straight-line method based on rates
specified in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their condition,
usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment
which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress.
Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to
use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

Estimated
Asset Category Useful
Life

Buildings 60

Factory Buildings 20

Plant & Equipment 20

Electrical Installation & Equipment 10

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Computers 3

Servers & Networks 6

Office Equipment 5

Furniture & Fixtures 10

Vehicles 10

Motor Cycles 8

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any.
Where an indication of impairment exists, the carrying amount of the investment is assessed and written down
immediately to its recoverable amount. On disposal of investments in subsidiaries and joint venture, the
difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit
and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out
basis. Cost of finished goods and work-in-progress include all costs of purchases, conversion costs and other
costs incurred in bringing the inventories to their present location and condition. The net realisable value is the
estimated selling price in the ordinary course of business less the estimated costs of completion and estimated
costs necessary to make the sale. Raw materials, packing materials and other supplies held for use in
production of inventories are not written down below cost except in cases where material prices have declined,
and it is estimated that the cost of the finished products will exceed their net realisable value. The provision for
inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid
investments with original maturities of three months or less. Bank overdrafts are shown within short-term
borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when
all of the following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for
immediate sale in its present condition. (iii) the assets are being actively marketed and (iv) sale has been agreed
or is expected to be concluded within 12 months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the
lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated
or amortised.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost are recognised in the statement of
profit and loss. In other cases, the transaction cost are attributed to the acquisition value of the financial asset.

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company
changes its business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost,
using the effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that
discounts estimated future cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income
(‘FVOCI’) or fair value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business
model for managing the financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows that are solely payments of principal and interest, are subsequently measured at
amortised cost using the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR
and loss arising from impairment, if any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets that are held within a business model whose objective is achieved by both, selling financial
assets and collecting contractual cash flows that are solely payments of principal and interest, are subsequently
measured at fair value through other comprehensive income. Fair value movements are recognized in the other
comprehensive income (OCI). Interest income measured using the EIR method and impairment losses, if any
are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously
recognised in OCI is reclassified from the equity to ‘other income’ in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets
are measured at fair value with all changes in fair value, including interest income and dividend income if any,
recognised as ‘other income’ in the Statement of Profit and Loss.

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the
Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity
instrument are recognised as other income in the Statement of Profit and Loss unless the Company has elected
to measure such instrument at FVOCI. Fair value changes excluding dividends, on an equity instrument
measured at FVOCI are recognised in OCI. Amounts recognised in OCI are not subsequently reclassified to the
Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised as ‘other
income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks.
Derivatives are measured at fair value. The treatment of changes in the value of derivative depends on their use
as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives
are classified as being part of cash flow hedge relationships. For an effective hedge, gains an losses from
changes in the fair value of derivatives are recognised in other comprehensive income. Any ineffective elements
of the hedge are recognised in the statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently
included within the carrying value of that asset. For other cash flow hedges, amounts accumulated in other
comprehensive income are taken to the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until
the related cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the
statement of profit and loss. If the hedged cash flow is no longer expected to occur, the cumulative gain or loss
is taken to the statement of profit and loss immediately.

Derivatives for which hedge accounting is not applied

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on
the date on which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is
a currently enforceable legal right to offset the recognised amounts and there is an intention to settle them on a
net basis or to realise the assets and settle the liabilities simultaneously.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial
asset expire, or it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than
financials assets in FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month
expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the
financial asset has not increased significantly since its initial recognition. The expected credit losses are
measured as lifetime expected credit losses if the credit risk on financial asset increases significantly since its
initial recognition. The Company’s trade receivables do not contain significant financing component and loss
allowance on trade receivables is measured at an amount equal to life time expected losses i.e. expected cash
shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the
instrument. Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are
classified as fair value through profit and loss. In case of trade payables, they are initially recognised at fair value
and subsequently, these liabilities are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities
carried at fair value through profit or loss are measured at fair value with all changes in fair value recognised in
the Statement of Profit and Loss.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or
expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the
best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a
current pre-tax rate that reflects the current market assessments of the time value of money and the risks
specific to the obligation. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the
amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations
under the contract exceed the economic benefits expected to be received under it, are recognized when it is
probable that an outflow of resources embodying economic benefits will be required to settle a present obligation
as a result of an obligating event based on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at
the date of the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot
rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss
arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the
gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or
loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

175
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Government grants are recognised where there is reasonable assurance that the grant will be received and all
attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income
on a systematic basis over the periods that the related costs, for which it is intended to compensate, are
expensed. When the grant relates to an asset, it is recognised along with the Asset and net asset value is
depreciated over the expected useful life of the related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value
amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of
the underlying asset [Link] equal annual installments When loans or similar assistance are provided by
governments or related institutions, with an interest rate below the current applicable market rate, the effect of
this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and
measured at fair value and the government grant is measured as the difference between the initial carrying value
of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy
applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the
Statement of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into
consideration the prevailing regulations. Income on account of purchase & using of Merchandise Exports from
India Scheme (MEIS) for payment of Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer
and when there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are
fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates
and any taxes or duties collected on behalf of the Government such as goods and services tax, etc.
Accumulated experience is used to estimate the provision for such discounts and rebates. Revenue is only
recognised to the extent that it is highly probable a significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is
made of goods that will be returned and a liability is recognised for this amount using a best estimate based on
accumulated experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the
service is performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period,
where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial
liability. When calculating the effective interest rate, the Company estimates the expected cash flows by
considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
similar options) but does not consider the expected credit losses. Interest income is included in finance income
in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a
straight-line basis over the lease terms and is included in revenue in the statement of profit or loss as Other

176
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme.
The Company has no obligation, other than the contribution payable to the provident fund. The Company
recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date
exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services
received before the balance sheet date, then excess is recognized as an asset to the extent that the
pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a
separately administered fund. The cost of providing benefits under defined benefit plan is determined using the
projected actuarial valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An
actuarial valuation involves making various assumptions that may differ from actual developments in the future.
These include the determination of the discount rate, future salary increases, mortality rates and attrition rate.
The company recognises the plan premium payable at the time of payment, along the effective coverage period,
which normally extends for an year. Remeasurement of liability and fund servicing cost is done by the fund
manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee
benefits. The benefits like salaries, wages, short term compensated absences etc. and the expected cost of
bonus, ex-gratia are recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation
(Amendment) Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f.
Financial Year 2019-20. The company shall comply with the conditions and shall not avail any exemptions/
incentives under different provisions of income tax as prescribed by the law. The new effective Income tax rate
@ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

177
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally
recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilised. Such deferred tax assets and
liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a

178
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the
accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the
initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.

(N) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment
whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and
assessed for impairment whenever there is an indication that the intangible asset may be impaired. The
amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at
least at the end of each reporting period. Changes in the expected useful life or the expected pattern of
consumption of future economic benefits embodied in the asset are considered to modify the amortisation period
or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on
intangible assets with finite lives is recognised in the statement of profit and loss unless such expenditure forms
part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the
business less accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of
the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also
includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory
units and solar plants of the company. The aggregate lease rental paid during the year is charged to the profit
and loss account - Rs.52.20 Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with
Sipcot industrial estate with a 99 year lease agreement which is amortised over the useful life of the asset.

179
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers
substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased
property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned
between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the
remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and
loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance
with the Company's general policy on the borrowing costs. Contingent rentals are recognised as expenses in the
periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that
the Company will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the
estimated useful life of the asset and the lease term. Operating lease payments are recognised as an expense in
the statement of profit and loss on a straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line
basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset
are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are
added to the carrying amount of the leased asset and recognised over the lease term on the same basis as
rental income Contingent rents are recognised as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer
from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at
the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to
reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to
the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity shares which could have been issued on
the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if
their conversion to equity shares would decrease the net profit per share from continuing ordinary operations.

180
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have
been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential
equity shares are determined independently for each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as
appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment
"MEPCO" for the purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the
Act as a charge to the statement of profit and loss account.

[610300] Notes - Accounting policies, changes in accounting estimates and errors

Disclosure of voluntary change in accounting policy [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Voluntary changes in accounting policy [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of voluntary change in accounting policy [Abstract]
Disclosure of voluntary change in accounting policy [Line items]
THERE IS NO THERE IS NO
CHANGE IN CHANGE IN
Description of nature of voluntary change in accounting policy ACCOUNTING ACCOUNTING
POLICY POLICY
THERE IS NO THERE IS NO
Description of reasons why applying new accounting policy provides reliable and CHANGE IN CHANGE IN
more relevant information ACCOUNTING ACCOUNTING
POLICY POLICY

Disclosure of changes in accounting estimates [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Accounting estimates [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of changes in accounting estimates [Abstract]
Disclosure of changes in accounting estimates [Line items]
Description of nature of change in accounting estimate [TextBlock] gdeagtetgrgr gywrtwrtwrtrn65
Increase (decrease) in accounting estimate 5,91,999 57,85,865
Description of fact that amount of change in accounting estimate is impracticable
grgsdgsdtwrtet fghfdhgdjgj
[TextBlock]

181
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of initial application of standards or interpretations [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Initially applied Ind ASs [Axis] 1
01/04/2022
01/04/2021
to
to
31/03/2022
31/03/2023
Disclosure of initial application of standards or interpretations [Abstract]
Disclosure of initial application of standards or interpretations [Line items]
standalone financial
Title of initially applied Ind AS ind as-2017
statement
Description whether change in accounting policy is made in accordance with
c&i 2016 i want to change
transitional provisions of initially applied Ind AS

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
Yes Yes
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy Yes Yes
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No

[400600] Notes - Property, plant and equipment

Disclosure of additional information about property plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Property, plant and equipment
Classes of property, plant and equipment [Axis] Land [Member]
[Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Refer to child Refer to child
equipment member member member member
Useful lives or depreciation rates, property, Refer to child Refer to child Refer to child Refer to child
plant and equipment member member member member
Whether property, plant and equipment are
No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and
SLM SLM SLM SLM
equipment
Useful lives or depreciation rates, property,
20 20 20 20
plant and equipment
Whether property, plant and equipment are
No No No No
stated at revalued amount

182
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about property plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Assets held under lease [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
60 20
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
60 60
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
20 20
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
20 10
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

183
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about property plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
10 10
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Office equipment [Member] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
SLM SLM
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
5 5
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of additional information about property plant and equipment [Abstract]
Disclosure of additional information about property plant and equipment [Line items]
Depreciation method, property, plant and equipment SLM SLM
Useful lives or depreciation rates, property, plant and equipment 3 3
Whether property, plant and equipment are stated at revalued amount No No

184
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1,485 2,195 1,485
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1,867 -1,710
loss
Total Depreciation property plant and
-1,867 -1,710
equipment
Total increase (decrease) in property,
-382 485 1,485
plant and equipment
Property, plant and equipment at end of
8,484 8,866 8,381 32,988
period

Disclosure of detailed information about property, plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2,195
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1,867 1,710
loss
Total Depreciation property plant and
1,867 1,710
equipment
Total increase (decrease) in property,
2,195 1,867 1,710
plant and equipment
Property, plant and equipment at end of
31,503 29,308 24,504 22,637
period

185
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Lakhs of INR
Property, plant
Classes of property, plant and equipment [Axis] and equipment Land [Member]
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 21
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-19 -22
loss
Total Depreciation property plant and
-19 -22
equipment
Total increase (decrease) in property,
-19 -1
plant and equipment
Property, plant and equipment at end of
20,927 2,257 2,276 2,277
period

Disclosure of detailed information about property, plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 21
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
19
loss
Total Depreciation property plant and
19
equipment
Total increase (decrease) in property,
0 21 19
plant and equipment
Property, plant and equipment at end of
2,413 2,413 2,392 156
period

186
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 21
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
22 -19 -22
loss
Total Depreciation property plant and
22 -19 -22
equipment
Total increase (decrease) in property,
22 -19 -1
plant and equipment
Property, plant and equipment at end of
137 115 1,258 1,277
period

Disclosure of detailed information about property, plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 21
equipment
Total increase (decrease) in property,
0 21
plant and equipment
Property, plant and equipment at end of
1,278 1,414 1,414 1,393
period

187
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
[Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
19 22
loss
Total Depreciation property plant and
19 22
equipment
Total increase (decrease) in property,
19 22 0
plant and equipment
Property, plant and equipment at end of
156 137 115 999
period

Disclosure of detailed information about property, plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
999 999 999 999
period

188
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
999 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(10)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 324 88 324
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-270 -268
loss
Total Depreciation property plant and
-270 -268
equipment
Total increase (decrease) in property,
54 -180 324
plant and equipment
Property, plant and equipment at end of
3,175 3,121 3,301 6,312
period

189
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(11)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 88
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
270 268
loss
Total Depreciation property plant and
270 268
equipment
Total increase (decrease) in property,
88 270 268
plant and equipment
Property, plant and equipment at end of
5,988 5,900 3,137 2,867
period

Disclosure of detailed information about property, plant and equipment [Table] ..(12)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
2,599 0 0 0
period

190
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(13)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(14)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 324 88
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-270 -268
loss
Total Depreciation property plant and
-270 -268
equipment
Total increase (decrease) in property,
0 54 -180
plant and equipment
Property, plant and equipment at end of
0 0 3,175 3,121
period

191
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(15)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 324 88
equipment
Total increase (decrease) in property,
324 88
plant and equipment
Property, plant and equipment at end of
3,301 6,312 5,988 5,900
period

Disclosure of detailed information about property, plant and equipment [Table] ..(16)
Unless otherwise specified, all monetary values are in Lakhs of INR
Plant and
Classes of property, plant and equipment [Axis] Buildings [Member] equipment
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1,145
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
270 268 -1,564
loss
Total Depreciation property plant and
270 268 -1,564
equipment
Total increase (decrease) in property,
270 268 -419
plant and equipment
Property, plant and equipment at end of
3,137 2,867 2,599 3,016
period

192
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(17)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2,071 1,145 2,071
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1,406
loss
Total Depreciation property plant and
-1,406
equipment
Total increase (decrease) in property,
665 1,145 2,071
plant and equipment
Property, plant and equipment at end of
3,435 2,770 24,031 22,886
period

Disclosure of detailed information about property, plant and equipment [Table] ..(18)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1,564 1,406
loss
Total Depreciation property plant and
1,564 1,406
equipment
Total increase (decrease) in property,
1,564 1,406
plant and equipment
Property, plant and equipment at end of
20,815 21,015 19,451 18,045
period

193
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(19)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1,145 2,071 1,145
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1,564 -1,406
loss
Total Depreciation property plant and
-1,564 -1,406
equipment
Total increase (decrease) in property,
-419 665 1,145
plant and equipment
Property, plant and equipment at end of
3,016 3,435 2,770 24,031
period

Disclosure of detailed information about property, plant and equipment [Table] ..(20)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2,071
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1,564 1,406
loss
Total Depreciation property plant and
1,564 1,406
equipment
Total increase (decrease) in property,
2,071 1,564 1,406
plant and equipment
Property, plant and equipment at end of
22,886 20,815 21,015 19,451
period

194
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(21)
Unless otherwise specified, all monetary values are in Lakhs of INR
Plant and
Classes of property, plant and equipment [Axis] equipment Furniture and fixtures [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1 0
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1 -1
loss
Total Depreciation property plant and
-1 -1
equipment
Total increase (decrease) in property,
0 -1
plant and equipment
Property, plant and equipment at end of
18,045 4 4 5
period

Disclosure of detailed information about property, plant and equipment [Table] ..(22)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1 0
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1
loss
Total Depreciation property plant and
1
equipment
Total increase (decrease) in property,
1 0 1
plant and equipment
Property, plant and equipment at end of
52 51 51 48
period

195
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(23)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1 0
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1 -1 -1
loss
Total Depreciation property plant and
1 -1 -1
equipment
Total increase (decrease) in property,
1 0 -1
plant and equipment
Property, plant and equipment at end of
47 46 4 4
period

Disclosure of detailed information about property, plant and equipment [Table] ..(24)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1 0
equipment
Total increase (decrease) in property,
1 0
plant and equipment
Property, plant and equipment at end of
5 52 51 51
period

196
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(25)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Vehicles [Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 15
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1 1 -13
loss
Total Depreciation property plant and
1 1 -13
equipment
Total increase (decrease) in property,
1 1 2
plant and equipment
Property, plant and equipment at end of
48 47 46 32
period

Disclosure of detailed information about property, plant and equipment [Table] ..(26)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 15 15 15
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-13
loss
Total Depreciation property plant and
-13
equipment
Total increase (decrease) in property,
2 15 15
plant and equipment
Property, plant and equipment at end of
30 28 180 165
period

197
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(27)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
13 13
loss
Total Depreciation property plant and
13 13
equipment
Total increase (decrease) in property,
13 13
plant and equipment
Property, plant and equipment at end of
150 148 135 122
period

Disclosure of detailed information about property, plant and equipment [Table] ..(28)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 15 15 15
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-13 -13
loss
Total Depreciation property plant and
-13 -13
equipment
Total increase (decrease) in property,
2 2 15
plant and equipment
Property, plant and equipment at end of
32 30 28 180
period

198
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(29)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 15
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
13 13
loss
Total Depreciation property plant and
13 13
equipment
Total increase (decrease) in property,
15 13 13
plant and equipment
Property, plant and equipment at end of
165 150 148 135
period

Disclosure of detailed information about property, plant and equipment [Table] ..(30)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Vehicles [Member] Office equipment [Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
122 0 0 0
period

199
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(31)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(32)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

200
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(33)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(34)
Unless otherwise specified, all monetary values are in Lakhs of INR
Computer
Classes of property, plant and equipment [Axis] Office equipment [Member] equipments
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

201
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(35)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(36)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(37)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

202
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(38)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
0 0 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(39)
Unless otherwise specified, all monetary values are in Lakhs of INR
Computer
Classes of property, plant and equipment [Axis] equipments
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis]
[Member]
Accumulated
depreciation and
Carrying amount accumulated depreciation and gross carrying amount [Axis]
impairment
[Member]
31/03/2021
Disclosure of detailed information about property, plant and equipment [Abstract]
Disclosure of detailed information about property, plant and equipment [Line items]
Reconciliation of changes in property, plant and equipment [Abstract]
Property, plant and equipment at end of period 0

[612100] Notes - Impairment of assets

Disclosure of impairment loss and reversal of impairment loss [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of assets [Axis] Goodwill [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of impairment loss and reversal of impairment loss [Abstract]
Disclosure of impairment loss and reversal of impairment loss [Line items]
Impairment loss recognised in profit or loss 10,000 50,000
Description of line item(s) in statement of comprehensive income in which
KHGJUGTYHG TDYRSTR
impairment losses recognised in profit or loss are included

Disclosure of information for impairment loss recognised or reversed for individual Assets or cash-generating unit [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Individual assets or cash generating units [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of information for impairment loss recognised or reversed for individual
Assets or cash-generating unit [Abstract]
Disclosure of information for impairment loss recognised or reversed for
individual Assets or cash-generating unit [Line items]
LAND&
Description of individual assets or cash-generating units BUILDING
LAND & BULDING

Impairment loss 50,000 4,88,155

203
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
Yes Yes
during the year
Disclosure of impairment loss and reversal of impairment loss [Abstract]
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
Yes Yes
or cash-generating unit
Disclosure of information for impairment loss recognised or
reversed for individual Assets or cash-generating unit
[Abstract]
Disclosure of information for cash-generating units [TextBlock]
Disclosure of information for cash-generating units [Abstract]

[400700] Notes - Investment property

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of investment property [TextBlock]
Textual information (31) Textual information (32)
Depreciation method, investment property, cost model [See below] [See below]
Textual information (33) Textual information (34)
Useful lives or depreciation rates, investment property, cost model [See below] [See below]

Textual information (31)

Depreciation method, investment property, cost model

Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in the balance
sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is
stated at cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost includes the cost of replacing part of the
plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of
plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives.
Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if
the recognition criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the decommissioning of an asset
after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and fixtures, Office
equipments are stated at cost less accumulated depreciation and accumulated impairment losses. Leasehold Improvements thereon are
amortized over the primary period of lease. Depreciation on assets is provided using the straight-line method based on rates specified in
Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher
Depreciation is also accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management,
where necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital
Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to use.

204
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (32)

Depreciation method, investment property, cost model

Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in the balance
sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is
stated at cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost includes the cost of replacing part of the
plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of
plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives.
Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if
the recognition criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the decommissioning of an asset
after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and fixtures, Office
equipments are stated at cost less accumulated depreciation and accumulated impairment losses. Leasehold Improvements thereon are
amortized over the primary period of lease. Depreciation on assets is provided using the straight-line method based on rates specified in
Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher
Depreciation is also accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management,
where necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital
Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to use.

205
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (33)

Useful lives or depreciation rates, investment property, cost model

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

(B) Investments in Subsidiaries and Joint Venture:

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any. Where an indication of
impairment exists, the carrying amount of the investment is assessed and written down immediately to its recoverable amount. On disposal of
investments in subsidiaries and joint venture, the difference between net disposal proceeds and the carrying amounts are recognized in the
Statement of Profit and Loss.

206
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (34)

Useful lives or depreciation rates, investment property, cost model

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

(B) Investments in Subsidiaries and Joint Venture:

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any. Where an indication of
impairment exists, the carrying amount of the investment is assessed and written down immediately to its recoverable amount. On disposal of
investments in subsidiaries and joint venture, the difference between net disposal proceeds and the carrying amounts are recognized in the
Statement of Profit and Loss.

207
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[400800] Notes - Goodwill

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis] Carrying amount [Member]
31/03/2023 31/03/2022
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill at end of period 0 0

Unless otherwise specified, all monetary values are in Lakhs of INR

31/03/2023 31/03/2022
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill [Abstract]
Goodwill at end of period 0 0

[400900] Notes - Other intangible assets

Disclosure of intangible assets with indefinite useful life [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Intangible assets with indefinite useful life [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of intangible assets with indefinite
useful life [Abstract]
Disclosure of intangible assets with indefinite
useful life [Line items]
Intangible assets with indefinite useful life 0 0 0 0
Description of intangible assets with
TECHNICLE TECHNICLE COMPUTER COMPUTER
indefinite useful life supporting assessment KNOW HOW KNOW HOW SOFTWARE SOFTWARE
of indefinite useful life

Disclosure of intangible assets with indefinite useful life [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Intangible assets with indefinite useful life [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of intangible assets with indefinite useful life [Abstract]
Disclosure of intangible assets with indefinite useful life [Line items]
Intangible assets with indefinite useful life 0 0
Description of intangible assets with indefinite useful life supporting
TRADE MARK TRADE MARK
assessment of indefinite useful life

208
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22 0
combinations
Amortisation other intangible assets -13 -21
Total increase (decrease) in Other
-13 1 0
intangible assets
Other intangible assets at end of period 114 127 126 318

Disclosure of detailed information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
22
combinations
Amortisation other intangible assets 13 21
Total increase (decrease) in Other
22 13 21
intangible assets
Other intangible assets at end of period 318 296 204 191

209
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Company other
Classes of other intangible assets [Axis] intangible assets Brands and trade marks [Member]
[Member]
Internally
generated and
other than
Internally generated and other than internally generated
Sub classes of other intangible assets [Axis] internally
intangible assets [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 170 1 1 1

Disclosure of detailed information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 11 11 11 10

210
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 10 10 1 1

Disclosure of detailed information about other intangible assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 1 11 11 11

211
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(7)

Unless otherwise specified, all monetary values are in Lakhs of INR
Trade marks
Classes of other intangible assets [Axis] Brands and trade marks [Member]
[Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member] internally
generated
intangible assets
[Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 10 10 10 1

Disclosure of detailed information about other intangible assets [Table] ..(8)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1 1 11 11

Disclosure of detailed information about other intangible assets [Table] ..(9)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 11 10 10 10

212
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(10)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1 1 1 11

Disclosure of detailed information about other intangible assets [Table] ..(11)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 11 11 10 10

Disclosure of detailed information about other intangible assets [Table] ..(12)

Unless otherwise specified, all monetary values are in Lakhs of INR
Trade marks
Classes of other intangible assets [Axis] Computer software [Member]
[Member]
Internally
generated Internally generated and other than internally generated
Sub classes of other intangible assets [Axis]
intangible assets intangible assets [Member]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 10 2 2 2

213
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(13)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 112 112 112 110

Disclosure of detailed information about other intangible assets [Table] ..(14)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 110 110 2 2

Disclosure of detailed information about other intangible assets [Table] ..(15)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 2 112 112 112

214
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(16)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other intangible
Classes of other intangible assets [Axis] Computer software [Member]
assets [Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member] internally
generated
intangible assets
[Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Amortisation other intangible assets -13
Total increase (decrease) in Other
0 0 -13
intangible assets
Other intangible assets at end of period 110 110 110 111

Disclosure of detailed information about other intangible assets [Table] ..(17)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
22 0 22
combinations
Amortisation other intangible assets -21
Total increase (decrease) in Other
1 0 22
intangible assets
Other intangible assets at end of period 124 123 195 195

215
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(18)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 13 21
Total increase (decrease) in Other
13 21
intangible assets
Other intangible assets at end of period 173 84 71 50

Disclosure of detailed information about other intangible assets [Table] ..(19)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22 0
combinations
Amortisation other intangible assets -13 -21
Total increase (decrease) in Other
-13 1 0
intangible assets
Other intangible assets at end of period 111 124 123 195

Disclosure of detailed information about other intangible assets [Table] ..(20)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
22
combinations
Amortisation other intangible assets 13 21
Total increase (decrease) in Other
22 13 21
intangible assets
Other intangible assets at end of period 195 173 84 71

216
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(21)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other intangible
Classes of other intangible assets [Axis] Know-how [Member]
assets [Member]
Internally
generated Internally generated and other than internally generated
Sub classes of other intangible assets [Axis]
intangible assets intangible assets [Member]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22
combinations
Amortisation other intangible assets -13 -21
Total increase (decrease) in Other
-13 1
intangible assets
Other intangible assets at end of period 50 111 124 123

Disclosure of detailed information about other intangible assets [Table] ..(22)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Know-how [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22
combinations
Amortisation other intangible assets 13
Total increase (decrease) in Other
0 22 13
intangible assets
Other intangible assets at end of period 195 195 173 84

217
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(23)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Know-how [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22
combinations
Amortisation other intangible assets 21 -13 -21
Total increase (decrease) in Other
21 -13 1
intangible assets
Other intangible assets at end of period 71 50 111 124

Disclosure of detailed information about other intangible assets [Table] ..(24)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Know-how [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 22
combinations
Total increase (decrease) in Other
0 22
intangible assets
Other intangible assets at end of period 123 195 195 173

Disclosure of detailed information about other intangible assets [Table] ..(25)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Know-how [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and gross carrying amount
Accumulated amortization and impairment [Member]
[Axis]
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other intangible assets
[Abstract]
Disclosure of detailed information about other intangible assets
[Line items]
Reconciliation of changes in other intangible assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 13 21
Total increase (decrease) in Other intangible assets 13 21
Other intangible assets at end of period 84 71 50

218
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member] Trade marks [Member]
Internally generated and other than Internally generated and other than
Sub classes of other intangible assets [Axis] internally generated intangible assets internally generated intangible assets
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child Refer to child Refer to child
Amortisation method, other intangible assets member member member member
Useful lives or amortisation rates, other Refer to child Refer to child Refer to child Refer to child
intangible assets member member member member
Whether other intangible assets are stated at
No No No No
revalued amount

Disclosure of additional information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Trade marks [Member] Computer software [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child
Amortisation method, other intangible assets SLM SLM
member member
Useful lives or amortisation rates, other Refer to child Refer to child
4 5
intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

Disclosure of additional information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Computer software [Member] Other intangible assets [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child
Amortisation method, other intangible assets SLM SLM
member member
Useful lives or amortisation rates, other Refer to child Refer to child
4 7
intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

219
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of other intangible assets [Axis] Know-how [Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of other intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child
Amortisation method, other intangible assets member member
SLM SLM

Useful lives or amortisation rates, other Refer to child Refer to child

4 4
intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of other intangible assets [TextBlock]
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life Yes Yes

[401000] Notes - Biological assets other than bearer plants

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Textual information (35) Textual information (36)
Depreciation method, biological assets other than bearer plants, at cost [See below] [See below]
Useful lives or depreciation rates, biological assets other than bearer Textual information (37) Textual information (38)
plants, at cost [See below] [See below]

220
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (35)

Depreciation method, biological assets other than bearer plants, at cost

Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in the balance
sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is
stated at cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost includes the cost of replacing part of the
plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of
plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives.
Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if
the recognition criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the decommissioning of an asset
after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and fixtures, Office
equipments are stated at cost less accumulated depreciation and accumulated impairment losses. Leasehold Improvements thereon are
amortized over the primary period of lease. Depreciation on assets is provided using the straight-line method based on rates specified in
Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher
Depreciation is also accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management,
where necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital
Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to use. The
estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

221
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

222
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (36)

Depreciation method, biological assets other than bearer plants, at cost

Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in the balance
sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is
stated at cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost includes the cost of replacing part of the
plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of
plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives.
Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if
the recognition criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the decommissioning of an asset
after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and fixtures, Office
equipments are stated at cost less accumulated depreciation and accumulated impairment losses. Leasehold Improvements thereon are
amortized over the primary period of lease. Depreciation on assets is provided using the straight-line method based on rates specified in
Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher
Depreciation is also accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management,
where necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed as Capital
Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the asset is not put to use. The
estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

223
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (37)

Useful lives or depreciation rates, biological assets other than bearer plants, at cost
Depreciation on assets is provided using the straight-line method based on rates specified in Schedule II to the Companies Act, 2013 or on
estimated useful lives of assets estimated by the management, whichever is higher Depreciation is also accelerated on fixed assets, based on
their condition, usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment which are
ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress. Capital Work-in-Progress are carried at
cost. No depreciation is applied on CWIP, since the asset is not put to use. The estimated useful lives considered for depreciation /
amortization of fixed assets are as follows:

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

224
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (38)

Useful lives or depreciation rates, biological assets other than bearer plants, at cost
Depreciation on assets is provided using the straight-line method based on rates specified in Schedule II to the Companies Act, 2013 or on
estimated useful lives of assets estimated by the management, whichever is higher Depreciation is also accelerated on fixed assets, based on
their condition, usability etc. as per the technical estimates of the Management, where necessary. Property, Plant & Equipment which are
ready for intended use as on the date of the Balance Sheet are disclosed as Capital Work-in-progress. Capital Work-in-Progress are carried at
cost. No depreciation is applied on CWIP, since the asset is not put to use. The estimated useful lives considered for depreciation /
amortization of fixed assets are as follows:

[Link]. Asset Category Estimated Useful Life

1 Buildings 60

2 Factory Buildings 20

3 Plant & Equipment 20

4 Electrical Installation & Equipment 10

5 Computers 3

6 Servers & Networks 6

7 Office Equipment 5

8 Furniture & Fixtures 10

9 Vehicles 10

10 Motor Cycles 8

225
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[611100] Notes - Financial instruments

Disclosure of financial liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of financial liabilities [Axis] Financial liabilities at amortised cost, class [Member]
Financial liabilities at fair value
Categories of financial liabilities [Axis] Financial liabilities, category [Member] through profit or loss, category
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 0 0 0 (A) 0
Financial liabilities, at fair value 0 0 0 0

Footnotes
(A)
Particulars 2021-22

Total 1417

Interest free security deposits from customers 77

Disclosure of financial liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of financial liabilities [Axis] Financial liabilities at amortised cost, class [Member]
Financial liabilities at fair value Financial liabilities at fair value
through profit or loss, designated upon through profit or loss that meet
Categories of financial liabilities [Axis]
initial recognition or subsequently, definition of held for trading, category
category [Member] [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 0 0 0 0
Financial liabilities, at fair value 0 0 0 0

Disclosure of financial liabilities [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Financial liabilities
Classes of financial liabilities [Axis] at amortised cost, Financial liabilities at fair value, class [Member]
class [Member]
Financial liabilities
Financial liabilities at fair value
Categories of financial liabilities [Axis] at amortised cost, Financial liabilities, category [Member] through profit or
category [Member] loss, category
[Member]
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 0 715 909 715
Financial liabilities, at fair value 0 20 20 10

Disclosure of financial liabilities [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of financial liabilities [Axis] Financial liabilities at fair value, class [Member]
Financial liabilities
Financial liabilities at fair value
Financial liabilities at fair value through
at fair value through profit or
profit or loss, designated upon initial
Categories of financial liabilities [Axis] through profit or loss that meet
recognition or subsequently, category
loss, category definition of held
[Member]
[Member] for trading,
category [Member]
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 909 715 909 0
Financial liabilities, at fair value 10 10 10 0

226
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of financial liabilities [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of financial liabilities [Axis] Financial liabilities at fair value, class [Member]
Financial liabilities
at fair value
through profit or
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis] loss that meet
category [Member]
definition of held
for trading,
category [Member]
31/03/2022 31/03/2023 31/03/2022
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 0 0 0
Financial liabilities, at fair value 0 10 10

Disclosure of financial assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Financial assets at fair value, class
Classes of financial assets [Axis] Equity investments [Member]
[Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 997 1,166 997 1,166
Financial assets, at fair value 0 0 0 0

Disclosure of financial assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of financial assets [Axis] Equity investments [Member]
Financial assets at fair value through Financial assets measured at fair value
Categories of financial assets [Axis] other comprehensive income, category through other comprehensive income,
[Member] category [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 997 1,166 (A) 997 (B) 1,166
Financial assets, at fair value 0 0 0 0

Footnotes
(A)
Particulars 2022-23

Total 680

Security deposits 317

(B)
Particulars 2021-22

Non Current Investments 909

Security deposits 257

Disclosure of financial instruments by type of interest rate [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Floating interest Fixed interest rate
Types of interest rates [Axis]
rate [Member] [Member]
31/03/2023 31/03/2023
Disclosure of financial instruments by type of interest rate [Abstract]
Disclosure of financial instruments by type of interest rate [Line items]
Financial assets 0.1 0
Financial liabilities 0.5 0

227
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[400400] Notes - Non-current investments

Details of non-current investments [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
unquoted equity unquoted equity
Nature of non-current investments instrument
unquoted
instrument
unquoted

Non-current investments 76 76 210 210

Name of body corporate in whom investment has nelco metal product Nalco Metal Products mdl industry MDL Industries
been made limited Limited limited Limited,
Details of whether such body corporate is
subsidiary, associate, joint venture or subsidiary subsidiary
controlled special purpose entity
Number of shares of non-current investment
[shares] 75,500 [shares] 75,500 [shares] 21,03,500 [shares] 21,03,500
made in body corporate

Details of non-current investments [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in other Investment in other Investment in other Investment in other
Type of non-current investments Indian companies Indian companies Indian companies Indian companies
equity instruments equity instruments equity instruments equity instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 129 129 35 35
Name of body corporate in whom investment has pandian chemical Pandian Chemicals aluminium powder Aluminium Powder
been made limited Limited, company limited Company Limitd
Number of shares of non-current investment
[shares] 95,760 [shares] 95,760 [shares] 95,520 [shares] 94,520
made in body corporate

Details of non-current investments [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 5 6
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 6 6 21 21
Name of body corporate in whom investment has
asian paint ltd. Asian Paints Ltd bajaj electricals Bajaj Electricals Ltd
been made
Number of shares of non-current investment
[shares] 200 [shares] 200 [shares] 1,700 [shares] 1,700
made in body corporate

228
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of non-current investments [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 7 8
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 14 14 9 9
Name of body corporate in whom investment has Dr Reddys Dr Reddys
blue star ltd. Blue Star Ltd
been made Laboratories Ltd Laboratories Ltd
Number of shares of non-current investment
[shares] 1,500 [shares] 1,500 [shares] 200 [shares] 200
made in body corporate

Details of non-current investments [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 9 10
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 19 19 2 2
Name of body corporate in whom investment has HCL Technologies HCL Technologies
Hero Motocorp Ltd Hero Motocorp Ltd
been made Ltd Ltd
Number of shares of non-current investment
[shares] 1,600 [shares] 1,600 [shares] 100 [shares] 100
made in body corporate

Details of non-current investments [Table] ..(6)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 11 12
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 5 5 15 15
Name of body corporate in whom investment has Hindalco Industries Hindalco Industries Indian Overseas Indian Overseas
been made Ltd Ltd Bank Bank
Number of shares of non-current investment
[shares] 1,000 [shares] 1,000 [shares] 80,900 [shares] 80,900
made in body corporate

229
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of non-current investments [Table] ..(7)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 13 14
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 10 10 13 13
Name of body corporate in whom investment has Intellect Design Intellect Design
ITC Ltd ITC Ltd
been made Arena Ltd Arena Ltd
Number of shares of non-current investment
[shares] 1,500 [shares] 1,500 [shares] 6,000 [shares] 6,000
made in body corporate

Details of non-current investments [Table] ..(8)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 15 16
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 34 24 7 7
Name of body corporate in whom investment has Larsen & Toubro Mahindra & Mahindra &
Larsen & Toubro Ltd
been made Ltd Mahindra Ltd Mahindra Ltd
Number of shares of non-current investment
[shares] 1,885 [shares] 1,885 [shares] 800 [shares] 800
made in body corporate

Details of non-current investments [Table] ..(9)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 17 18
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 5 5 10 7
Name of body corporate in whom investment has
SJVN Ltd SJVN Ltd State Bank of India State Bank of India
been made
Number of shares of non-current investment
[shares] 18,000 [shares] 18,000 [shares] 2,000 [shares] 2,000
made in body corporate

230
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of non-current investments [Table] ..(10)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 19 20
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 3 3 0 16
Name of body corporate in whom investment has Sun Pharmaceutical Sun Pharmaceutical
Suzlon Energy Ltd Suzlon Energy Ltd
been made Industries Ltd Industries Ltd
Number of shares of non-current investment
[shares] 300 [shares] 300 [shares] 0 [shares] 1,60,000
made in body corporate

Details of non-current investments [Table] ..(11)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 21 22
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 14 10 8 8
Name of body corporate in whom investment has
TATA Motors Ltd TATA Motors Ltd TATA Steel Ltd TATA Steel Ltd
been made
Number of shares of non-current investment
[shares] 3,000 [shares] 3,000 [shares] 7,000 [shares] 7,000
made in body corporate

Details of non-current investments [Table] ..(12)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 23 24
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 5 5 4 4
Name of body corporate in whom investment has The India Cements The India Cements T h e R a m c o The Ramco Cements
been made Ltd Ltd Cements Ltd Ltd
Number of shares of non-current investment
[shares] 2,500 [shares] 2,500 [shares] 600 [shares] 600
made in body corporate

231
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of non-current investments [Table] ..(13)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 25 26
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted shares unquoted unquoted shares unquoted
Non-current investments 3 3 14 14
Name of body corporate in whom investment has TVS M o t o r TVS Motor Company Whirlpool of India Whirlpool of India
been made Company Ltd Ltd Ltd Ltd
Number of shares of non-current investment
[shares] 500 [shares] 500 [shares] 800 [shares] 800
made in body corporate

Details of non-current investments [Table] ..(14)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of non-current investments [Axis] 27 28 29
01/04/2022 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2022 31/03/2022
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in
Other non-current Other non-current
Type of non-current investments subsidiaries equity subsidiaries equity
investments investments
instruments instruments
Class of non-current investments Trade investments Trade investments Other investments Other investments
Nature of non-current investments unquoted shares unquoted direct growth regular growth
Non-current investments 9 9 200 30
Name of body corporate in whom investment has SBI Balanced SBI Equity Hybrid
Yes Bank Ltd Yes Bank Ltd
been made Advantage Fund
Number of shares of non-current investment
[shares] 70,000 [shares] 70,000 [shares] 19,59,846 [shares] 15,077
made in body corporate

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022
to 31/03/2022
31/03/2023
Textual information (39)
Disclosure of notes on non-current investments explanatory [TextBlock] [See below]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 680 909
Aggregate provision for diminution in value of non-current investments 680 909

232
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (39)

Disclosure of notes on non-current investments explanatory [Text Block]

5 (A) Investments

Rs. in Lakhs

As at March As at March
Particulars
31, 2023 31, 2022

Investments in equity instruments:

(Unquoted equity instrument valued at Cost: )

Investment in Unlisted Scrips

450 450

Investment in Listed Scrips

230 229

Investment in Mutual Funds

- 230

Total
680 909

Current Investments - -

Non Current Investments

680 909

Aggregate value of unquoted investments 680 909

Note: Investment in Listed Scrips (Valued at Fair Market Value & the difference is
recongised in Other Comprehensive Income)

Investments in Unlisted Companies:

As at March As at March
Particulars
31, 2023 31, 2022

(i) Subsidiaries

a) Nalco Metal Products Limited, Maravankulam 75,500 Equity Shares of Rs. 100/-
each fully paid up 76 76

b) MDL Industries Limited, Maravankulam 21,03,500 equity shares of Rs. 10 each

fully paid up 210 210

(ii) of other entities

a) Pandian Chemicals Limited, Madurai 95,760 equity shares of Rs. 100/- each fully
paid-up (including 25,500 Equity shares received as Bonus shares; 31,500 equity shares
purchased at Rs. 175/- per share; 32,660 equity shares purchased at Rs. 203.43 per 129 129
share and 100 shares purchased at Rs. 554.62 per share)

b) Aluminium Powder Company Limitd, Melakkottai 94,520 Equity shares of Rs. 100
each fully paid up (including 70,890 equity shares received as bonus shares) 35 35

233
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Total
450 450

Investments in Listed Companies: Rs. in Lakhs

As at March As at March
Particulars
31, 2023 31, 2022

a) Asian Paints Ltd - 200 shares

6 6

b) Bajaj Electricals Ltd - 1700 shares

21 21

c) Blue Star Ltd - 1500 shares

14 14

d) Dr Reddys Laboratories Ltd - 200 shares

9 9

e) HCL Technologies Ltd - 1600 shares

19 19

f) Hero Motocorp Ltd - 100 shares

2 2

g) Hindalco Industries Ltd - 1000 shares

5 5

h) Indian Overseas Bank - 80900 shares

15 15

i) Intellect Design Arena Ltd - 1500 shares

10 10

j) ITC Ltd - 6000 shares

13 13

k) Larsen & Toubro Ltd - 1885 shares

34 24

l) Mahindra & Mahindra Ltd - 800 shares

7 7

m) SJVN Ltd - 18000 shares

5 5

n) State Bank of India - 2000 shares

10 7

o) Sun Pharmaceutical Industries Ltd - 300 shares

3 3

p) Suzlon Energy Ltd - 160000 shares

- 16

q)TATA Motors Ltd - 3000 shares

14 10

r) TATA Steel Ltd - 7000 shares

8 8

s) The India Cements Ltd - 2500 shares

5 5

t) The Ramco Cements Ltd - 600 shares

4 4

u) TVS Motor Company Ltd - 500 shares

3 3

234
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

v) Whirlpool of India Ltd - 800 shares

14 14

w) Yes Bank Ltd - 70000 shares

9 9

Total
230 229

Note: The Fair market value of above investments as at end of the year is (Rs. in
Lakhs): 247 230

Investments in Mutual Funds:

As at March As at March
Particulars
31, 2023 31, 2022

a) SBI Balanced Advantage - Direct Growth (1959846 units)

- 200

b) SBI Equity Hybrid Fund Regular Growth (15077 units)

- 30

Total
- 230

Note: The Fair market value of above investments as at end of the year is (Rs. in
Lakhs): - 237

[611600] Notes - Non-current asset held for sale and discontinued operations
Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
7,943 3,764
operations
Net cash flows from (used in) operating activities 7,943 3,764
Net cash flows from (used in) investing activities, continuing
399 -2,337
operations
Net cash flows from (used in) investing activities 399 -2,337
Net cash flows from (used in) financing activities, continuing
-9,178 -628
operations
Net cash flows from (used in) financing activities -9,178 -628

235
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[400100] Notes - Equity share capital

Disclosure of classes of equity share capital [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Type of share equity share capital
Number of shares authorised [shares] 25,00,000 [shares] 25,00,000 [shares] 25,00,000
Value of shares authorised 2,500 2,500 2,500
Number of shares issued [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000
Value of shares issued 2,430 2,430 2,430
Number of shares subscribed and fully paid [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000
Value of shares subscribed and fully paid 2,430 2,430 2,430
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000
Total value of shares subscribed 2,430 2,430 2,430
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000
Value of shares called 2,430 2,430 2,430
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0
Calls unpaid by officers 0 0 0
Total calls unpaid by directors and
0 0 0
officers
Calls unpaid by others 0 0 0
Total calls unpaid 0 0 0
Forfeited shares 0 0 0
Forfeited shares reissued 0 0 0
Value of shares paid-up 2,430 2,430 2,430
Par value per share [INR/shares] 100
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Total increase (decrease) in number of
[shares] 0 [shares] 0 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000 [shares] 24,30,000
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Total increase (decrease) in share capital 0 0 0
Equity share capital at end of period 2,430 2,430 2,430 2,430
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Type of share equity share capital

236
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of classes of equity share capital [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2021
to 31/03/2021
31/03/2022
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Type of share equity share capital
Number of shares authorised [shares] 25,00,000
Value of shares authorised 2,500
Number of shares issued [shares] 24,30,000
Value of shares issued 2,430
Number of shares subscribed and fully paid [shares] 24,30,000
Value of shares subscribed and fully paid 2,430
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 24,30,000
Total value of shares subscribed 2,430
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 24,30,000
Value of shares called 2,430
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0
Calls unpaid by officers 0
Total calls unpaid by directors and officers 0
Calls unpaid by others 0
Total calls unpaid 0
Forfeited shares 0
Forfeited shares reissued 0
Value of shares paid-up 2,430
Par value per share [INR/shares] 100
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Total increase (decrease) in number of shares outstanding [shares] 0
Number of shares outstanding at end of period [shares] 24,30,000 [shares] 24,30,000
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Total increase (decrease) in share capital 0
Equity share capital at end of period 2,430 2,430
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Total application money received for allotment of securities and due for
0
refund and interest accrued thereon
Type of share equity share capital

237
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
EQUITY SHARE
Type of share equity share capital equity share capital equity share capital
CAPITAL
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
EQUITY SHARE
Type of share equity share capital equity share capital equity share capital
CAPITAL
Refer to child Refer to child Smt. Thilagavathy Smt. Thilagavathy
Name of shareholder member member Ravindran Ravindran
Permanent account number of shareholder AAAPT7845K AAAPT7845K
Country of incorporation or residence of
INDIA INDIA
shareholder
Number of shares held in company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Percentage of shareholding in company 0.00% 0.00% 0.00% 0.00%

Disclosure of shareholding more than five per cent in company [Table] ..(2)
Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 2 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
EQUITY SHARE
Type of share equity share capital
CAPITAL
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
EQUITY SHARE
Type of share equity share capital
CAPITAL
M/s. Arunsankar M/s. Arunsankar
Name of shareholder Enterprises Pvt. Ltd Enterprises Pvt. Ltd
Permanent account number of shareholder ZZZCA7845K ZZZCA7845K
Country of incorporation or residence of shareholder INDIA INDIA
Number of shares held in company [shares] 0 [shares] 0
Percentage of shareholding in company 0.00% 0.00%

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory [TextBlock]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether money raised from public offering during year Yes Yes
Amount raised from public offering during year 0 0
Amount utilised towards specified purposes for public offering 0 0
Amount remaining unutilised received in respect of public offering 0 0

[400300] Notes - Borrowings

Classification of borrowings [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Borrowings [Member]
Secured/Unsecured borrowings
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 0 0 0

238
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Classification of borrowings [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Loans and advances from related Loans and advances from others
Classification of borrowings [Axis]
parties [Member] [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 0 0 0

[612700] Notes - Income taxes

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Depreciation
Temporary difference, unused tax losses and unused tax credits amortisation
Temporary differences [Member]
[Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 456 359 456
Net deferred tax liability (assets) -456 -359 -267 -456
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-97 -92 -97
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-97 -92 -97
recognised in profit or loss
Total increase (decrease) in deferred
-97 -92 -97
tax liability (assets)
Deferred tax liability (assets) at end of
-456 -359 -267 -456
period

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(2)
Unless otherwise specified, all monetary values are in Lakhs of INR
Depreciation amortisation impairment
Temporary difference, unused tax losses and unused tax credits [Axis]
[Member]
01/04/2021
to 31/03/2021
31/03/2022
Disclosure of temporary difference, unused tax losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused tax losses and unused tax credits [Line
items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 359
Net deferred tax liability (assets) -359 -267
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income) recognised in profit or loss -92
Reconciliation of changes in deferred tax liability (assets) [Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax expense (income) recognised in profit or loss -92
Total increase (decrease) in deferred tax liability (assets) -92
Deferred tax liability (assets) at end of period -359 -267

239
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (40) Textual information (41)
Disclosure of income tax [TextBlock] [See below] [See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 2,220 1,860
Adjustments for current tax of prior periods 74 3
Total current tax expense (income) and adjustments for current tax
2,294 1,863
of prior periods
Deferred tax expense (income) relating to tax rate changes or
-97 -92
imposition of new taxes
Total tax expense (income) 2,197 1,771
Disclosure of temporary difference, unused tax losses and unused tax
credits [TextBlock]
Disclosure of temporary difference, unused tax losses and unused tax
credits [Abstract]
Deferred tax assets and liabilities [Abstract]
Deferred tax expense (income) [Abstract]
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit 8,821 7,386
Tax expense (income) at applicable tax rate 2,220 1,860
Tax effect of revenues exempt from taxation 0 0
Tax effect of expense not deductible in determining taxable profit (tax
74 3
loss)
Tax effect of impairment of goodwill 0 0
Other tax effects for reconciliation between accounting profit and tax
-97 -92
expense (income)
Total tax expense (income) 2,197 1,771
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit 8,821 7,386

240
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (40)

Disclosure of income tax [Text Block]

30. Taxes

(a) Income tax expense:

The major components of income tax expenses for the year ended March
31, 2023 and for the year ended March 31, 2022

(I) Income tax recognised in Profit or Loss:

For the year ended For the year ended

Particulars
March 31, 2023 March 31, 2022

Net current tax expense 2,220 1,860

Adjustment of tax relating to earlier years 74 3

Deferred tax (credit)/charge -97 -92

- MAT credit entitlement - -

Net deferred tax charge -97 -92

Total income tax expense recognised in statement of Profit & Loss 2,197 1,771

(b) Reconciliation of effective tax rate:

For the year ended For the year ended

Particulars
March 31, 2023 March 31, 2022

Profit Before Tax (A) 8,821 7,386

241
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Expected tax expense using the Company's applicable rate 2,220 1,860

Tax Effect of:

- Adjustments recognised in the current year in relation to the current income

74 3
tax of prior years.

- Others - Changes in recognised temporary differences -97 -92

Income tax expenses recognised in statement of profit or loss 2,197 1,771

242
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (41)

Disclosure of income tax [Text Block]

30. Taxes

(a) Income tax expense:

The major components of income tax expenses for the year ended March
31, 2023 and for the year ended March 31, 2022

(I) Income tax recognised in Profit or Loss:

For the year ended For the year ended

Particulars
March 31, 2023 March 31, 2022

Net current tax expense 2,220 1,860

Adjustment of tax relating to earlier years 74 3

Deferred tax (credit)/charge -97 -92

- MAT credit entitlement - -

Net deferred tax charge -97 -92

Total income tax expense recognised in statement of Profit & Loss 2,197 1,771

(b) Reconciliation of effective tax rate:

For the year ended For the year ended

Particulars
March 31, 2023 March 31, 2022

Profit Before Tax (A) 8,821 7,386

243
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Expected tax expense using the Company's applicable rate 2,220 1,860

Tax Effect of:

- Adjustments recognised in the current year in relation to the current income

74 3
tax of prior years.

- Others - Changes in recognised temporary differences -97 -92

Income tax expenses recognised in statement of profit or loss 2,197 1,771

[611000] Notes - Exploration for and evaluation of mineral resources

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No

[611900] Notes - Accounting for government grants and disclosure of government assistance
Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance Yes Yes
Textual information (42) Textual information (43)
Description of accounting policy for government grants [TextBlock] [See below] [See below]
Description of nature and extent of government grants recognised in
gkituiuiuiu tytyeteytyt
financial statements

Indication of other forms of government assistance with direct benefits

heyreyrey wrtrtrwtrt
for entity

government government
Explanation of unfulfilled conditions and other contingencies attaching bond securities
to government assistance

Capital subsidies or grants received from government authorities 0 0

Revenue subsidies or grants received from government authorities 0 0

244
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (42)

Description of accounting policy for government grants [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year

ended March 31, 2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and
incorporated under the provisions of Companies Act, 1956. The Company manufactures various
non-ferrous metal powders, Aluminium paste, oxides and AAC Blocks.

2. Basis of Preparation, Measurement and Significant

Accounting Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended
from time to time).

The standalone financial statements have been prepared on the historical cost basis except for
certain assets and liabilities that are measured at fair values at the end of each reporting period, as
explained in the accounting policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting
policies are applied consistently to all the periods presented in the financial statements. All assets
and liabilities have been classified as current or non-current as per the Company’s normal
operating cycle and other criteria as set out in the Division II of Schedule III to the Companies Act,
2013. Based on the nature of products and the time between acquisition of assets for processing
and their realization in cash and cash equivalents, the Company has ascertained its operating
cycle as 12 months for the purpose of current or non-current classification of assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have
been reflected as “0” in the relevant notes in these financial statements.

(b) Basis of Measurement

245
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

These financial statements are prepared under the historical cost convention unless otherwise
indicated.

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and
assumptions in the application of accounting policies that affect the reported amounts of assets,
liabilities, income and expenses. Actual results may differ from these estimates. Continuous
evaluation is done on the estimation and judgments based on historical experience and other
factors, including expectations of future events that are believed to be reasonable. Revisions to
accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and
assumptions that have the most significant effect to the carrying amounts of assets and liabilities
within the next financial year, are included in the following notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural
calamities: The Company has considered the possible effects that may result from the pandemic
like COVID-19 on the carrying amounts of receivables, intangibles, investments and other assets.
In developing the assumptions relating to the possible future uncertainties in the economic
conditions because of this pandemic, the Company has used internal and external sources of
information. The Company has reviewed the assumptions used and based on current estimates
expects the carrying amount of these assets will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair
values, for both financial and non-financial assets and liabilities. The Company has an established
control framework with respect to the measurement of fair values. The valuation team regularly
reviews significant unobservable inputs and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used
in the valuation techniques as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

246
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3: inputs for the asset or liability that are not based on observable market data
(unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data
as far as possible. If the inputs used to measure the fair value of an asset or a liability fall into
different levels of the fair value hierarchy, then the fair value measurement is categorised in its
entirety in the same level of the fair value hierarchy as the lowest level input that is significant to
the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for
administrative purposes, are stated in the balance sheet at cost less accumulated depreciation and
accumulated impairment losses. Freehold land is not depreciated. Plant and equipment is stated at
cost, net of accumulated depreciation and accumulated impairment losses, if any Such cost
includes the cost of replacing part of the plant and equipment and borrowing costs for long-term
construction projects if the recognition criteria are met. When significant parts of plant and
equipment are required to be replaced at intervals, the Company depreciates them separately
based on their specific useful lives. Likewise, when a major inspection is performed, its cost is
recognised in the carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is
capitalized. All other repair and maintenance costs are recognised in profit or loss as incurred. The
present value of the expected cost for the decommissioning of an asset after its use is included in
the cost of the respective asset if the recognition criteria for a provision are met. Furnitures and
fixtures, Office equipments are stated at cost less accumulated depreciation and accumulated
impairment losses. Leasehold Improvements thereon are amortized over the primary period of
lease. Depreciation on assets is provided using the straight-line method based on rates specified
in Schedule II to the Companies Act, 2013 or on estimated useful lives of assets estimated by the
management, whichever is higher Depreciation is also accelerated on fixed assets, based on their
condition, usability etc. as per the technical estimates of the Management, where necessary.
Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet
are disclosed as Capital Work-in-progress. Capital Work-in-Progress are carried at cost. No
depreciation is applied on CWIP, since the asset is not put to use. The estimated useful lives
considered for depreciation / amortization of fixed assets are as follows:

Estimated
Asset
[Link]. Useful
Category
Life

1 Buildings 60

Factory
2 20
Buildings

Plant &
3 20
Equipment

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Electrical
4 Installation 10
&
Equipment

5 Computers 3

Servers &
6 6
Networks

Office
7 5
Equipment

Furniture
8 10
& Fixtures

9 Vehicles 10

Motor
10 8
Cycles

(B) Investments in Subsidiaries and Joint Venture:

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (43)

Description of accounting policy for government grants [Text Block]

The Metal Powder Company Limited

1. Notes forming part of the financial statements for the year ended March 31,
2023

Corporate Information

The Metal Powder Company Limited is a Public Limited Company domiciled in India and incorporated under the provisions of
Companies Act, 1956. The Company manufactures various non-ferrous metal powders, Aluminium paste, oxides and AAC
Blocks.

2. Basis of Preparation, Measurement and Significant Accounting Policies

2.1 Basis of preparation and measurement

(a) Basis of Preparation

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the
Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

The standalone financial statements have been prepared on the historical cost basis except for certain assets and liabilities
that are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

These financial statements are approved for issue by the Board of Directors on 19th August, 2023

The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied
consistently to all the periods presented in the financial statements. All assets and liabilities have been classified as current
or non-current as per the Company’s normal operating cycle and other criteria as set out in the Division II of Schedule III to
the Companies Act, 2013. Based on the nature of products and the time between acquisition of assets for processing and
their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose
of current or non-current classification of assets and liabilities.

Transactions and balances with values below the rounding off norm adopted by the Company have been reflected as “0” in
the relevant notes in these financial statements.

(b) Basis of Measurement

These financial statements are prepared under the historical cost convention unless otherwise indicated.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

2.2 KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

(a) Use of Estimates and Judgements

The preparation of financial statements requires management to make judgments, estimates and assumptions in the
application of accounting policies that affect the reported amounts of assets, liabilities, income and expenses. Actual results
may differ from these estimates. Continuous evaluation is done on the estimation and judgments based on historical
experience and other factors, including expectations of future events that are believed to be reasonable. Revisions to
accounting estimates are recognised prospectively.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that have the most
significant effect to the carrying amounts of assets and liabilities within the next financial year, are included in the following
notes:

(i) Useful lives of property, plant and equipment (Refer Note A)

(ii) Assets and obligations relating to employee benefits (Refer Note L)

(iii) Valuation and measurement of income taxes and deferred taxes (Refer Note M)

(iv) Provisions for disputed tax liabilities (Refer Note G)

Estimation of uncertainties relating to the global health pandemic like COVID-19 and natural calamities: The Company has
considered the possible effects that may result from the pandemic like COVID-19 on the carrying amounts of receivables,
intangibles, investments and other assets. In developing the assumptions relating to the possible future uncertainties in the
economic conditions because of this pandemic, the Company has used internal and external sources of information. The
Company has reviewed the assumptions used and based on current estimates expects the carrying amount of these assets
will be recovered.

(b) Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both financial and
non-financial assets and liabilities. The Company has an established control framework with respect to the measurement of
fair values. The valuation team regularly reviews significant unobservable inputs and valuation adjustments.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques
as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e.
as prices) or indirectly (i.e. derived from prices).

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

- Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. If the
inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair
value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is
significant to the entire measurement.

2.3 SIGNIFICANT ACCOUNTING POLICIES

(A) Property, Plant and Equipment:

Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in
the balance sheet at cost less accumulated depreciation and accumulated impairment losses. Freehold land is not
depreciated. Plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if
any Such cost includes the cost of replacing part of the plant and equipment and borrowing costs for long-term construction
projects if the recognition criteria are met. When significant parts of plant and equipment are required to be replaced at
intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is
performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. Cost of spares relating to specific item of Property, Plant and Equipment is capitalized. All other repair
and maintenance costs are recognised in profit or loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a
provision are met. Furnitures and fixtures, Office equipments are stated at cost less accumulated depreciation and
accumulated impairment losses. Leasehold Improvements thereon are amortized over the primary period of lease.
Depreciation on assets is provided using the straight-line method based on rates specified in Schedule II to the Companies
Act, 2013 or on estimated useful lives of assets estimated by the management, whichever is higher Depreciation is also
accelerated on fixed assets, based on their condition, usability etc. as per the technical estimates of the Management, where
necessary. Property, Plant & Equipment which are ready for intended use as on the date of the Balance Sheet are disclosed
as Capital Work-in-progress. Capital Work-in-Progress are carried at cost. No depreciation is applied on CWIP, since the
asset is not put to use. The estimated useful lives considered for depreciation / amortization of fixed assets are as follows:

[Link].

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

10

(B) Investments in Subsidiaries and Joint Venture:

Investments in subsidiaries and joint venture are carried at cost less accumulated impairment losses, if any. Where an
indication of impairment exists, the carrying amount of the investment is assessed and written down immediately to its
recoverable amount. On disposal of investments in subsidiaries and joint venture, the difference between net disposal
proceeds and the carrying amounts are recognized in the Statement of Profit and Loss.

(C) Inventories:

Inventories are valued at the lower of cost and net realisable value. Cost is computed on a First in First out basis. Cost of
finished goods and work-in-progress include all costs of purchases, conversion costs and other costs incurred in bringing the
inventories to their present location and condition. The net realisable value is the estimated selling price in the ordinary
course of business less the estimated costs of completion and estimated costs necessary to make the sale. Raw materials,
packing materials and other supplies held for use in production of inventories are not written down below cost except in cases
where material prices have declined, and it is estimated that the cost of the finished products will exceed their net realisable
value. The provision for inventory obsolescence is assessed regularly based on estimated usage and shelf life of products.

(D) Cash and Cash Equivalents:

Cash and cash equivalents include cash on hand, demand deposits with banks, other short-term highly liquid investments
with original maturities of three months or less. Bank overdrafts are shown within short-term borrowings in the balance sheet.

(E) Assets Held for Sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when all of the
following criteria’s are met: (i) decision has been made to sell. (ii) the assets are available for immediate sale in its present
condition. (iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be concluded within 12
months of the Balance Sheet date.

Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the lower of its
carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised.

(F) Financial Instruments:

Financial Assets:

Financial assets are recognised when the Company becomes a party to the contractual provisions of the instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are recognised at fair
value through profit and loss (FVTPL), its transaction cost are recognised in the statement of profit and loss. In other cases,
the transaction cost are attributed to the acquisition value of the financial asset.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets are subsequently classified as measured at-

• amortised cost:

1. through profit and loss (FVTPL)

2. fair value through other comprehensive income (FVOCI).

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company changes its
business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognised at fair value. Subsequently, these assets are held at amortised cost, using the
effective interest rate (EIR) method net of any expected credit losses. The EIR is the rate that discounts estimated future
cash income through the expected life of financial instrument.

Debt Instruments:

Debt instruments are initially measured at amortised cost, fair value through other comprehensive income (‘FVOCI’) or fair
value through profit or loss (‘FVTPL’) till derecognition on the basis of (i) the entity’s business model for managing the
financial assets and (ii) the contractual cash flow characteristics of the financial asset.

Measured at amortised cost:

Financial assets that are held within a business model whose objective is to hold financial assets in order to collect
contractual cash flows that are solely payments of principal and interest, are subsequently measured at amortised cost using
the effective interest rate (‘EIR’) method less impairment, if any. The amortisation of EIR and loss arising from impairment, if
any is recognised in the Statement of Profit and Loss.

Measured at fair value through other comprehensive income:

Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and
collecting contractual cash flows that are solely payments of principal and interest, are subsequently measured at fair value
through other comprehensive income. Fair value movements are recognized in the other comprehensive income (OCI).
Interest income measured using the EIR method and impairment losses, if any are recognised in the Statement of Profit and
Loss. On derecognition, cumulative gain or loss previously recognised in OCI is reclassified from the equity to ‘other income’
in the Statement of Profit and Loss.

Measured at fair value through profit or loss:

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL. Such financial assets are
measured at fair value with all changes in fair value, including interest income and dividend income if any, recognised as
‘other income’ in the Statement of Profit and Loss.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value, the Company may,
on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity instrument are
recognised as other income in the Statement of Profit and Loss unless the Company has elected to measure such instrument
at FVOCI. Fair value changes excluding dividends, on an equity instrument measured at FVOCI are recognised in OCI.
Amounts recognised in OCI are not subsequently reclassified to the Statement of Profit and Loss. Dividend income on the
investments in equity instruments are recognised as ‘other income’ in the Statement of Profit and Loss.

Derivative Financial Instruments:

The Company uses derivative financial instruments to hedge its foreign currency and commodity risks. Derivatives are
measured at fair value. The treatment of changes in the value of derivative depends on their use as explained below:

Cash flow hedges:

Derivatives are held to hedge the uncertainty in timing or amount of future forecast cash flows. Such derivatives are classified
as being part of cash flow hedge relationships. For an effective hedge, gains an losses from changes in the fair value of
derivatives are recognised in other comprehensive income. Any ineffective elements of the hedge are recognised in the
statement of profit and loss.

If the hedged cash flow relates to a non-financial asset, the amount accumulated in equity is subsequently included within the
carrying value of that asset. For other cash flow hedges, amounts accumulated in other comprehensive income are taken to
the statement of profit and loss at the same time as the related cash flow.

When a derivative no longer qualifies for hedge accounting, any cumulative gain or loss remains in equity until the related
cash flow occurs. When the cash flow takes place, the cumulative gain or loss is taken to the statement of profit and loss. If
the hedged cash flow is no longer expected to occur, the cumulative gain or loss is taken to the statement of profit and loss
immediately.

Derivatives for which hedge accounting is not applied

Derivative financial instruments for which hedge accounting is not applied are initially recognised at fair value on the date on
which a derivative contract is entered and are subsequently measured at FVTPL.

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet, if there is a currently
enforceable legal right to offset the recognised amounts and there is an intention to settle them on a net basis or to realise
the assets and settle the liabilities simultaneously.

Derecognition

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or
it transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financials assets in
FVTPL category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month expected credit
losses for all originated or acquired financial assets if at the reporting date the credit risk of the financial asset has not
increased significantly since its initial recognition. The expected credit losses are measured as lifetime expected credit losses
if the credit risk on financial asset increases significantly since its initial recognition. The Company’s trade receivables do not
contain significant financing component and loss allowance on trade receivables is measured at an amount equal to life time
expected losses i.e. expected cash shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value
through profit and loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities
are held at amortised cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair
value through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and
Loss.

Derecognition

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

(G) Provisions and Contingent Liabilities:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance Sheet date.

If the effect of the time value of money is material, provisions are discounted to reflect its present value using a current
pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation.

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of
the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount cannot be made.

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations under the
contract exceed the economic benefits expected to be received under it, are recognized when it is probable that an outflow of
resources embodying economic benefits will be required to settle a present obligation as a result of an obligating event based
on a reliable estimate of such obligation.

(H) Foreign currencies

The Company's financial statements are presented in INR, which is also the company's functional currency.

Transactions in foreign currencies are initially recorded by the Company at the functional currency spot rate at the date of the
transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of
exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange
rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated
using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of
non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value
of the item (i.e., translation differences on items whose fair value gain or loss is recognised in OCI or profit or loss are also
recognised in OCI or profit or loss, respectively).

(I) Government grants and Export Benefits

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached
conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis
over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an
asset, it is recognised along with the Asset and net asset value is depreciated over the expected useful life of the related
asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and
released to profit or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset [Link]
equal annual installments When loans or similar assistance are provided by governments or related institutions, with an
interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant.
The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the
difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as
per the accounting policy applicable to financial liabilities.

Export benefits in the nature of Advance Authorisation License under Foreign Trade Policy are recognised in the Statement
of Profit and Loss when there is no uncertainty in receiving / utilizing the same, taking into consideration the prevailing
regulations. Income on account of purchase & using of Merchandise Exports from India Scheme (MEIS) for payment of

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Customs Duty are recognized as other Income.

(J) Revenue Recognition:

Revenue from sale of goods is recognised when control of the products being sold is transferred to our customer and when
there are no longer any unfulfilled obligations. The Performance Obligations in our contracts are fulfilled at the time of
dispatch, delivery or upon formal customer acceptance depending on customer terms.

Revenue is measured on the basis of contracted price, after deduction of any trade discounts, volume rebates and any taxes
or duties collected on behalf of the Government such as goods and services tax, etc. Accumulated experience is used to
estimate the provision for such discounts and rebates. Revenue is only recognised to the extent that it is highly probable a
significant reversal will not occur.

Our customers have the contractual right to return goods only when authorised by the Company. An estimate is made of
goods that will be returned and a liability is recognised for this amount using a best estimate based on accumulated
experience.

Income from services rendered is recognised based on agreements/arrangements with the customers as the service is
performed and there are no unfulfilled obligations.

Interest income

Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future
cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
gross carrying amount of the financial asset or to the amortised cost of a financial liability. When calculating the effective
interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial
instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses.
Interest income is included in finance income in the statement of profit and loss.

Rental Income

Rental income arising from Land and other Immovable Property given on lease is accounted for on a straight-line basis over
the lease terms and is included in revenue in the statement of profit or loss as Other Income.

Dividend income on investments is recognised when the right to receive dividend is established.

(K) Expenditure:

Expenses are accounted on accrual basis.

(L) Retirement and other employee benefits

Retirement benefit in the form of provident fund and employee state insurance is a defined contribution scheme. The
Company has no obligation, other than the contribution payable to the provident fund. The Company recognizes contribution
payable to the provident fund scheme as an expense, when an employee renders the related service. If the contribution
payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

payable to the scheme is recognized as a liability after deducting the contribution already paid. If the contribution already paid
exceeds the contribution due for services received before the balance sheet date, then excess is recognized as an asset to
the extent that the pre-payment will lead to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires contributions to be made to a separately
administered fund. The cost of providing benefits under defined benefit plan is determined using the projected actuarial
valuation by the Fund manager at the time of undertaking the plan / renewal of plan. An actuarial valuation involves making
various assumptions that may differ from actual developments in the future. These include the determination of the discount
rate, future salary increases, mortality rates and attrition rate. The company recognises the plan premium payable at the time
of payment, along the effective coverage period, which normally extends for an year. Remeasurement of liability and fund
servicing cost is done by the fund manager at the time of renewal of the defined scheme plan.

Other Short-term employee benefits

All employee benefits falling within twelve months of rendering the service are classified as short-term employee benefits.
The benefits like salaries, wages, short term compensated absences etc. and the expected cost of bonus, ex-gratia are
recognized in the period in which the employee renders the related service.

(M) Taxes

Current Income Tax

The company has opted for new tax rates introduced by the Government of India through the Taxation (Amendment)
Ordinance 2019 on the 20th of September 2019 u/s 115BAA of the Income Tax Act, 1961 w.e.f. Financial Year 2019-20. The
company shall comply with the conditions and shall not avail any exemptions/ incentives under different provisions of income
tax as prescribed by the law. The new effective Income tax rate @ 25.168% will be applicable to the company.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the Financial
Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from
the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises
from the initial recognition of goodwill.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of
the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in
which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and
liabilities.

(N) Intangible assets

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible
assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Intangible assets with
finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the
intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite
useful life are reviewed at least at the end of each reporting period.

Changes in the expected Intangible assets with finite lives are amortised over the useful economic life and assessed for
impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period.
Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the
asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting
estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit and loss
unless such expenditure forms part of carrying value of another asset.

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less
accumulated impairment losses, if any.

(O) 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 capitalised as part of the cost of the asset. All other
borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an
entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent
regarded as an adjustment to the borrowing costs.

(P) Leases

The company's leasing arrangements are in respect of operating lease for land used for setting up of factory units and solar
plants of the company. The aggregate lease rental paid during the year is charged to the profit and loss account - Rs.52.20
Lakhs (Previous year 32.68 Lakhs). The company also has a leasehold land with Sipcot industrial estate with a 99 year lease
agreement which is amortised over the useful life of the asset.

Company as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the
risks and rewards incidental to ownership to the Company is classified as a finance lease.

Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased property or, if
lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and
reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance
charges are recognised in finance costs in the statement of profit and loss, unless they are directly attributable to qualifying
assets, in which case they are capitalized in accordance with the Company's general policy on the borrowing costs.
Contingent rentals are recognised as expenses in the periods in which they are incurred.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Company
will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the
asset and the lease term. Operating lease payments are recognised as an expense in the statement of profit and loss on a
straight-line basis over the lease term.

Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line basis over the

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THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified
as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant
lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the
leased asset and recognised over the lease term on the same basis as rental income Contingent rents are recognised as
revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the
Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Company's net
investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of
return on the net investment outstanding in respect of the lease.

(Q) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for
the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flows from operating, investing and financing activities of the Company are segregated based on the available
information.

(R) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is
computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for
dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted
average number of equity shares considered for deriving basic earnings per share and the weighted average number of
equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares
are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing
ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless
they have been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential equity
shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity
shares are adjusted for share splits / reverse share splits and bonus shares, as appropriate.

(S) Operating Segment

The management committee monitors the operating results of its business as a single primary segment "MEPCO" for the
purpose of making decisions about resource allocation and performance assessment,

The business of the company falls under a single primary segment i.e., "MEPCO" for the purpose of Ind AS 108.

(T) Expenditure on Corporate Social Responsibility (CSR)

The Company accounts the expenditure incurred towards Corporate Social Responsibility as required under the Act as a
charge to the statement of profit and loss account.

260
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[401100] Notes - Subclassification and notes on liabilities and assets

Other current financial assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other current financial assets others [Axis] 1 2
31/03/2023 31/03/2023
Subclassification and notes on liabilities and assets [Abstract]
Other current financial assets [Abstract]
Other current financial assets others 18 19
Other current financial assets others [Abstract]
Other current financial assets others [Line items]
Other current financial assets others 18 19

Classification of inventories [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of inventories [Axis] Company inventories [Member] Raw materials [Member]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 6,800 7,768 2,084 2,225
Mode of valuation AT COST AT COST

Classification of inventories [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 2,044 2,434 (A) 1,975 (B) 2,422
Mode of valuation AT COST AT COST AT COST AT COST

Footnotes
(A)
Particulars 2022-23

FG - Manufactured 1935

FG - Traded 40

(B)
Particulars 2021-22

FG - Manufactured 2360

FG - Traded 62

261
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Classification of inventories [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of inventories [Axis] Loose tools [Member] Other inventories [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 648 687 49 0
Refer to child Refer to child
Mode of valuation AT COST AT COST
member member
Refer to child Refer to child
Nature of other inventories member member

Classification of inventories [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of inventories [Axis] Other inventories, others [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 49 0
Mode of valuation AT COST AT COST
Nature of other inventories SPARE PARTS SPARE PARTS

Subclassification of trade receivables [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Secured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 0 0 0 0
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 0 0 0 0
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 0 0
Total trade receivables due by
0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director

262
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Subclassification of trade receivables [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Secured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 3,053 3,759 3,036 3,740
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 3,053 3,759 3,036 3,740
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director

Subclassification of trade receivables [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security [Axis] Doubtful [Member]
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 17 19
Allowance for bad and doubtful debts 0 0
Total trade receivables 17 19
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by directors, other officers or others 0 0
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Trade receivables due by firms in which any director is partner 0 0
Trade receivables due by private companies in which any director is director 0 0
Trade receivables due by private companies in which any director is member 0 0
Total trade receivables due by firms or companies in which any director
0 0
is partner or director

263
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Advances [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Secured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 426 337 426 337
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 20 20 20 20
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
20 20 20 20
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
20 20 20 20
director is partner
Advance due by private companies in
20 20 20 20
which any director is director
Advance due by private companies in
20 20 20 20
which any director is member
Total advance due by firms or
companies in which any director 60 60 60 60
is partner or director

Details of advances [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Other Advances [Member] Advance tax [Member]
Classification of assets based on security [Axis] Secured considered good [Member] Secured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 426 337 426 337
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 20 20 20 20
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
20 20 20 20
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
20 20 20 20
director is partner
Advance due by private companies in
20 20 20 20
which any director is director
Advance due by private companies in
20 20 20 20
which any director is member
Total advance due by firms or
companies in which any director 60 60 60 60
is partner or director

264
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Advance income tax paid [Member] Advance sales tax/VAT paid [Member]
Classification of assets based on security [Axis] Secured considered good [Member] Secured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 426 337 0 0
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 20 20 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
20 20 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
20 20 0 0
director is partner
Advance due by private companies in
20 20 0 0
which any director is director
Advance due by private companies in
20 20 0 0
which any director is member
Total advance due by firms or
companies in which any director 60 60 0 0
is partner or director

Details of advances [Table] ..(4)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Advance fringe benefit tax paid
Classification of advances [Axis] Tax deducted at source [Member]
[Member]
Classification of assets based on security [Axis] Secured considered good [Member] Secured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 0 0 0 0
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

265
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Secured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 0 0 0 0
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(6)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Other Advances [Member] Advance tax [Member]
Classification of assets based on security [Axis] Secured considered good [Member] Secured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 0 0 0 0
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

266
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Details of loans [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of loans [Axis] Loans [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Doubtful [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 0 0 0 0
Allowance for bad and doubtful loans 0 0 0 0
Total loans 0 0 0 0
Details of loans due by directors, other
officers or others [Abstract]
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Loans due by others 0 0 0 0
Total loans due by directors, other
0 0 0 0
officers or others
Details of loans due by firms or
companies in which any director
is partner or director [Abstract]
Loans due by firms in which any director
0 0 0 0
is partner
Loans due by private companies in
0 0 0 0
which any director is director
Loans due by private companies in
0 0 0 0
which any director is member
Total loans due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of loans [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of loans [Axis] Security deposits [Member]
Classification of assets based on security [Axis] Doubtful [Member]
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 0 0
Allowance for bad and doubtful loans 0 0
Total loans 0 0
Details of loans due by directors, other officers or others [Abstract]
Loans due by directors 0 0
Loans due by other officers 0 0
Loans due by others 0 0
Total loans due by directors, other officers or others 0 0
Details of loans due by firms or companies in which any director is partner
or director [Abstract]
Loans due by firms in which any director is partner 0 0
Loans due by private companies in which any director is director 0 0
Loans due by private companies in which any director is member 0 0
Total loans due by firms or companies in which any director is partner or
0 0
director

267
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Other current assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other current assets others [Axis] 1 2
01/04/2022
01/04/2021 01/04/2022 01/04/2021
to to to
to
31/03/2022 31/03/2023 31/03/2022
31/03/2023
Subclassification and notes on liabilities and assets
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 631 645 146 394
Other current assets others [Abstract]
Other current assets others [Line items]
Security Balances with government
Description of other current assets others deposits authorities
Advance Tax Advance Tax

Other current assets, others 631 645 146 394

Other current assets others [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other current assets others [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 270 244 18 0
Other current assets others [Abstract]
Other current assets others [Line items]
Description of other current assets others Prepaid Expenses Prepaid Expenses Duty Credit Scrip Duty Credit Scrip
Other current assets, others 270 244 18 0

Other current assets others [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Other current assets others [Axis] 5 6
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 111 641 207 137
Other current assets others [Abstract]
Other current assets others [Line items]
Advance to
Description of other current assets others Suppliers
Advance to Suppliers others receivable Other receivables

Other current assets, others 111 641 207 137

268
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of breakup of provisions [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 0
Provision leave encashment 0 0
Provision pension 0 0
Provision employee insurance scheme 0 0
Provision other employee related
0 0
liabilities
Total provisions for employee benefits 0 0
Provision for corporate tax [Abstract]
Provision for wealth tax 0 0
Provision for fringe benefit tax 0 0
Provision for other tax 0 0
Provision for corporate dividend tax 0 0
Total provision for corporate tax 0 0
Provision for statutory liabilities 0 0 185 303
CSR expenditure provision 0 0 0 0
Provision for abandonment cost 0 0
Other provisions 0 0
Total provisions 0 0 185 303

Other non-current financial assets, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of other non-current financial assets others [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 317 257
Other non-current financial assets, others [Abstract]
Other non-current financial assets, others [Line items]
Description other non-current financial assets, others Security deposits Security deposits
Other non-current financial assets, others 317 257

269
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Total other non-current financial assets 317 257
Advances, non-current 426 337
Total other non-current assets 426 337
Disclosure of notes on cash and bank balances explanatory [TextBlock]
Fixed deposits with banks 0 0

Other deposits with banks (A) 14,344 (B) 6,349

Other balances with banks 758 1,509
Total balance with banks 15,102 7,858
Cash on hand 10 16
Others 76 218
Total cash and cash equivalents 15,188 8,092
Total cash and bank balances 15,188 8,092

guyfufytdyutd
Nature of other cash and cash equivalents yhteyhtehyty

Total balances held with banks to extent held as

margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than 12 months maturity 0 0
Derivative financial instruments 18 9
Unbilled revenue 19 17
Total other current financial assets 37 26
Total other current assets 1,383 2,061
Interest accrued on borrowings 0 0
Interest accrued on public deposits 81 77
Interest accrued others 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0
Total other current financial liabilities 81 77
Advance received from customers 688 695
Total other advance 688 695
Taxes payable sales tax 78 203
Taxes payable other tax 3 10
Accrued expenses payable 191 89
Current liabilities portion of share application money pending
0 0
allotment
Total other payables, current 272 302
Total other current liabilities 960 997

Footnotes
(A)
Particulars 2022-23

- Less than 3 months 464

- More than 3 months and less than 12 months 13880

(B)
Particulars 2021-22

- Less than 3 months 401

- More than 3 months and less than 12 months 5948

270
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[401200] Notes - Additional disclosures on balance sheet

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of additional balance sheet notes explanatory [TextBlock]
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Total contingent liabilities 0 0
Total contingent liabilities and commitments 0 0
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 0
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Details regarding cost records [Abstract]
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, No No
2014
Net worth of company 35,748 30,330
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 0 0
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties 2,115.27 1,613.68
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0

[611800] Notes - Revenue

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (44) Textual information (45)
Disclosure of revenue [TextBlock] [See below] [See below]

271
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (44)

Disclosure of revenue [Text Block]

StatementofProfitandLossfortheyearendedMarch31,2023

For the year For the Year

endedMarch31, endedMarch31
Particulars Notes
2023 2022

21

22

23A

23B

24
(I) INCOME
25

26

3,4

27

30

Revenuefrom Operations 58,939 51,990

Other Income 3,365 1,749

TotalIncome 62,304 53,739

272
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(II) EXPENSES

Cost of Materials Consumed 35,211 32,451

Purchasesof stock in trade 5,449 3,634

Changes in Inventories of Finished Goods,

Stock in trade

andWork-in-Progress 837 (799)

Employee Benefits Expense 2,675 2,333

Finance Costs 31 31

Depreciation andAmortisationexpense 1,880 1,731

Corporate Social Responsibility Expenses 159 73

Other Expenses 7,241 6,899

TotalExpenses 53,483 46,353

(III) Profit Before Tax 8,821 7,386

(IV)TaxExpense

Current tax 2,220 1,860

Adjustment of current tax relating to earlier

74 3
years

(Deferredtax)/DeferredTaxliabilities (97) (92)

Totaltaxexpense 2,197 1,771

273
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(V)Profit for the year 6,624 5,615

(`inLakhs)

StatementofProfitandLossfortheyearendedMarch31,2023

(`inLakhs)

For the year For the Year

Particulars Notes endedMarch31, endedMarch31
2023 2022

(VI) OTHER COMPREHENSIVE INCOME

28
(OCI)

(I) Items not to be reclassified to profit or loss in

subsequent periods: 9 10

(VII)Totalothercomprehensiveincomefortheyear,

net of tax 9 10

(VIII)Totalcomprehensiveincomefortheyear 6,633 5,625

(IX)EarningsPer Equity Share Rs. 100/-each

fully paid

Computed on the basis of total profit for the

29 272.96 231.48
year Basic (Rs.)

Diluted (Rs.) 272.96 231.48

See accompanying notes to the financial

statements

274
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[Link] CEO

[Link] CFO

[Link] CS(A55463)

For and on behalf of the Board of Directors

M. RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

N. NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Place:Maravankulam Date: 19.08.2023

Directors

AsperourReportofevendateattached

For M/s Sekar &Co.

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936

275
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

276
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (45)

Disclosure of revenue [Text Block]

StatementofProfitandLossfortheyearendedMarch31,2023

For the year For the Year

endedMarch31, endedMarch31
Particulars Notes
2023 2022

21

22

23A

23B

24
(I) INCOME
25

26

3,4

27

30

Revenuefrom Operations 58,939 51,990

Other Income 3,365 1,749

TotalIncome 62,304 53,739

277
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(II) EXPENSES

Cost of Materials Consumed 35,211 32,451

Purchasesof stock in trade 5,449 3,634

Changes in Inventories of Finished Goods,

Stock in trade

andWork-in-Progress 837 (799)

Employee Benefits Expense 2,675 2,333

Finance Costs 31 31

Depreciation andAmortisationexpense 1,880 1,731

Corporate Social Responsibility Expenses 159 73

Other Expenses 7,241 6,899

TotalExpenses 53,483 46,353

(III) Profit Before Tax 8,821 7,386

(IV)TaxExpense

Current tax 2,220 1,860

Adjustment of current tax relating to earlier

74 3
years

(Deferredtax)/DeferredTaxliabilities (97) (92)

Totaltaxexpense 2,197 1,771

278
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

(V)Profit for the year 6,624 5,615

(`inLakhs)

StatementofProfitandLossfortheyearendedMarch31,2023

(`inLakhs)

For the year For the Year

Particulars Notes endedMarch31, endedMarch31
2023 2022

(VI) OTHER COMPREHENSIVE INCOME

28
(OCI)

(I) Items not to be reclassified to profit or loss in

subsequent periods: 9 10

(VII)Totalothercomprehensiveincomefortheyear,

net of tax 9 10

(VIII)Totalcomprehensiveincomefortheyear 6,633 5,625

(IX)EarningsPer Equity Share Rs. 100/-each

fully paid

Computed on the basis of total profit for the

29 272.96 231.48
year Basic (Rs.)

Diluted (Rs.) 272.96 231.48

See accompanying notes to the financial

statements

279
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[Link] CEO

[Link] CFO

[Link] CS(A55463)

For and on behalf of the Board of Directors

M. RAMALINGAM (DIN 00006836) [Link](DIN 00001381)

C. GUNASINGH PRITHIVIRAJ(DIN 00168538) [Link] (DIN 00014412)

[Link](DIN00374398) [Link](DIN00006862)

[Link] KODISWARAN(00001872) GABIRUBEN (DIN 00006847)

YENNARKAYRRAJARATHANM(DIN00020509) YENNARKAYRSELVARATHANM(DIN00031076)

N. NAGARAJAN (DIN 00121494) SUGUNARAVICHANDRAN(DIN00170190)

K. BALAKRISHNAN (DIN 0014462)

Place:Maravankulam Date: 19.08.2023

Directors

AsperourReportofevendateattached

For M/s Sekar &Co.

CharteredAccountants Firm Reg No: 16269S ARUN KUMAR GHADEI

Partner MembershipNo:230158

UDIN :23230158BGRMXN5936

280
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[612400] Notes - Service concession arrangements

Disclosure of detailed information about service concession arrangements [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Service concession arrangements [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of detailed information about service concession arrangements [Abstract]
Disclosure of detailed information about service concession arrangements [Line items]
Description of service concession arrangement FRTRT GFDGFG
Explanation of significant terms of service concession arrangement that
TRTRT DFGFGG
may affect amount, timing and certainty of future cash flows

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments Yes Yes
Disclosure of detailed information about service concession arrangements
[TextBlock]

[612000] Notes - Construction contracts

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts Yes Yes
Revenue from construction contracts 0 0

Methods used to determine construction contract revenue recognised GRTSDGSDGDS SFGSFDGSDG

Methods used to determine stage of completion of construction in progress FDGDFDF HGHGHG

Costs incurred and recognised profits (less recognised losses) 0 0

Advances received for contracts in progress 0 0
Retention for contracts in progress 0 0
Gross amount due from customers for contract work as Assets 0 0
Gross amount due to customers for contract work as liability 0 0
Progress billings 0 0

281
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[612600] Notes - Employee benefits

Disclosure of net defined benefit liability (assets) [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Present value of
defined benefit
Net defined benefit liability (assets) [Axis] Net defined benefit liability (assets) [Member]
obligation
[Member]
Defined benefit plans categories [Axis] 1 1
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
Description of type of plan Refer to child member Refer to child member gratuity
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
-7,932 -4,357 12,702
benefit liability (assets)
Interest expense (income), net defined
0 0 0
benefit liability (assets)
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined
0 0 0
benefit liability (assets)
Total loss (gain) on
remeasurement, net defined 0 0 0
benefit liability (assets)
Past service cost and gains (losses)
arising from settlements, net defined
benefit liability (assets) [Abstract]
Past service cost, net defined
0
benefit liability (assets)
Net past service cost and gains
(losses) arising from settlements,
0
net defined benefit liability
(assets)
Contributions to plan, net defined
benefit liability (assets) [Abstract]
Contributions to plan by employer,
net defined benefit liability 0 0 0
(assets)
Total contributions to plan, net
0 0 0
defined benefit liability (assets)
Payments from plan, net defined benefit
0 0
liability (assets)
Total increase (decrease) in net
-7,932 -4,357 12,702
defined benefit liability (assets)
Net defined benefit liability (assets) at
-12,289 -4,357 0 20,076
end of period

282
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of net defined benefit liability (assets) [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Present value of defined benefit
Net defined benefit liability (assets) [Axis] Plan assets [Member]
obligation [Member]
Defined benefit plans categories [Axis] 1 1
01/04/2022
01/04/2021 01/04/2021
to 31/03/2021 to
to
31/03/2022 31/03/2022
31/03/2023
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
Description of type of plan GRATUITY plan assts CHANGE IN PLAN ASSTS
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
7,374 20,634 11,731
benefit liability (assets)
Interest expense (income), net defined
0 0 0
benefit liability (assets)
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined
0 0 0
benefit liability (assets)
Total loss (gain) on
remeasurement, net defined 0 0 0
benefit liability (assets)
Past service cost and gains (losses)
arising from settlements, net defined
benefit liability (assets) [Abstract]
Past service cost, net defined
0 0
benefit liability (assets)
Net past service cost and gains
(losses) arising from settlements,
0 0
net defined benefit liability
(assets)
Contributions to plan, net defined
benefit liability (assets) [Abstract]
Contributions to plan by employer,
net defined benefit liability 0 0 0
(assets)
Total contributions to plan, net
0 0 0
defined benefit liability (assets)
Payments from plan, net defined benefit
0
liability (assets)
Total increase (decrease) in net
7,374 20,634 11,731
defined benefit liability (assets)
Net defined benefit liability (assets) at
7,374 0 32,365 11,731
end of period

Disclosure of net defined benefit liability (assets) [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Domestic defined
Defined benefit plans [Axis] benefit plans
[Member]
Plan assets
Net defined benefit liability (assets) [Axis]
[Member]
Defined benefit plans categories [Axis] 1
31/03/2021
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Net defined benefit liability (assets) at end of period 0

283
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of defined benefit plans [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Domestic defined benefit plans
Defined benefit plans [Axis]
[Member]
Defined benefit plans categories [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Description of type of plan employee benefits employee benefits
Surplus (deficit) in plan [Abstract]
Plan assets, at fair value 2,675 2,333
Net surplus (deficit) in plan 2,675 2,333
Actuarial assumption of discount rates 45.00% 75.00%

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (46) Textual information (47)
Disclosure of employee benefits [TextBlock] [See below] [See below]
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]

Textual information (46)

Disclosure of employee benefits [Text Block]

Retirementbenefitintheformofprovidentfundandemployeestateinsuranceisa defined contribution scheme. The Company has no obligation,
other than the [Link]
payabletotheprovidentfundschemeasanexpense,whenanemployeerenders

[Link] before the balance sheet date exceeds the contribution already paid,
the deficit payabletotheschemeisrecognizedasaliabilityafterdeductingthecontribution already paid. If the contribution already paid exceeds the
contribution due for servicesreceivedbeforethebalancesheetdate,thenexcessisrecognizedasan asset to the extent that the pre-payment will lead
to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires
[Link] benefits under defined benefit plan is determined using the
projected actuarial valuationbytheFundmanageratthetimeofundertakingtheplan/renewalofplan. An actuarial valuation involves making
various assumptions that may differ from [Link] rate, future salary
increases, mortality rates and attrition rate. The company recognisestheplanpremiumpayableatthetimeofpayment,alongtheeffective
coverageperiod,[Link]
andfundservicingcostisdonebythefundmanageratthetimeofrenewalofthe definedschemeplan.

OtherShort-termemployeebenefits

All employee benefits falling within twelve months of rendering the service are
[Link],wages,short term compensated absences etc. and the expected cost of bonus,
ex-gratia are recognizedintheperiodinwhichtheemployeerenderstherelatedservice

284
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (47)

Disclosure of employee benefits [Text Block]

Retirementbenefitintheformofprovidentfundandemployeestateinsuranceisa defined contribution scheme. The Company has no obligation,
other than the [Link]
payabletotheprovidentfundschemeasanexpense,whenanemployeerenders

[Link] before the balance sheet date exceeds the contribution already paid,
the deficit payabletotheschemeisrecognizedasaliabilityafterdeductingthecontribution already paid. If the contribution already paid exceeds the
contribution due for servicesreceivedbeforethebalancesheetdate,thenexcessisrecognizedasan asset to the extent that the pre-payment will lead
to, for example, a reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan in India, which requires
[Link] benefits under defined benefit plan is determined using the
projected actuarial valuationbytheFundmanageratthetimeofundertakingtheplan/renewalofplan. An actuarial valuation involves making
various assumptions that may differ from [Link] rate, future salary
increases, mortality rates and attrition rate. The company recognisestheplanpremiumpayableatthetimeofpayment,alongtheeffective
coverageperiod,[Link]
andfundservicingcostisdonebythefundmanageratthetimeofrenewalofthe definedschemeplan.

OtherShort-termemployeebenefits

All employee benefits falling within twelve months of rendering the service are
[Link],wages,short term compensated absences etc. and the expected cost of bonus,
ex-gratia are recognizedintheperiodinwhichtheemployeerenderstherelatedservice

[612800] Notes - Borrowing costs

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of borrowing costs [TextBlock]
Whether any borrowing costs has been capitalised during the year Yes Yes
Borrowing costs [Abstract]
Borrowing costs capitalised 0 0
Borrowing costs recognised as expense 0 0
Total borrowing costs incurred 0 0
Interest costs [Abstract]
Interest costs capitalised 0 0
Interest expense 0 0
Total interest costs incurred 0 0
Capitalisation rate of borrowing costs eligible for capitalisation 0.00% 0.00%

285
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[700100] Notes - Key managerial personnels and directors remuneration and other information

Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Key managerial personnels and directors [Axis] 1 2 3 4
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors
and
remuneration to key managerial personnels and directors

[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
ANNAMALAI VAIRAPRAKASAM GRAHADURAI DHANASEKARAPANDIAN
Name of key managerial personnel or director SANKARALINGAM KODISWARAN ABIRUBEN SINGARAVEL
Director identification number of key managerial
00001381 00001872 00006847 00006862
personnel or director
Permanent account number of key managerial
ACIPA1202G AKQPK6285P ACIPA1203H ADPPS7220N
personnel or director
Date of birth of key managerial personnel or
26/01/1947 15/07/1963 17/07/1966 20/02/1956
director
Designation of key managerial personnel or director Director Director Director Director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 0 0 0
Perquisites key managerial personnel or
0 0 0 0
director
Profits in lieu of salary key managerial
0 0 0 0
personnel or director
Gross salary to key managerial personnel or
0 0 0 0
director
Sitting fees key managerial personnel or
0 0 0 0
director
Stock option key managerial personnel or
0 0 0 0
director
Sweat equity key managerial personnel or
0 0 0 0
director
Commission as percentage of profit key
0 0 0 0
managerial personnel or director
Other commission key managerial personnel or
0 0 0 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
0 0 0 0
remuneration

286
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(2)
Unless otherwise specified, all monetary values are in Lakhs of INR
Key managerial personnels and directors [Axis] 5 6 7 8
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
RAVINDRAN
ARUNACHALAM RAVINDRAN NAGARAJAN
Name of key managerial personnel or director TENZING RAJARATNAM
YENNARKAY
NATARAJAN
SELVARATHNAM
Director identification number of key managerial
00014412 00020509 00031076 00121494
personnel or director
Permanent account number of key managerial
ABPPT7646D ABWPR7990R AVYPS2583F ABMPN6751A
personnel or director
Date of birth of key managerial personnel or
17/06/1953 28/10/1966 15/11/1975 08/04/1941
director
Designation of key managerial personnel or director Director Director Director Director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 0 0 0
Perquisites key managerial personnel or
0 0 0 0
director
Profits in lieu of salary key managerial
0 0 0 0
personnel or director
Gross salary to key managerial personnel or
0 0 0 0
director
Sitting fees key managerial personnel or
0 0 0 0
director
Stock option key managerial personnel or
0 0 0 0
director
Sweat equity key managerial personnel or
0 0 0 0
director
Commission as percentage of profit key
0 0 0 0
managerial personnel or director
Other commission key managerial personnel or
0 0 0 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
0 0 0 0
remuneration

287
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(3)
Unless otherwise specified, all monetary values are in Lakhs of INR
Key managerial personnels and directors [Axis] 9 10 11 12
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
CHELLADURAI
KALIAPPAN SUGUNA AYYANADAR
Name of key managerial personnel or director BALAKRISHNAN
GUNASINGH
RAVICHANDRAN RAMAMURTHY
PRITHIVIRAJ
Director identification number of key managerial
00144462 00168538 00170190 00374398
personnel or director
Permanent account number of key managerial
ACAPB8986C AAXPG1338G ADPPR8804F AAPPR9860E
personnel or director
Date of birth of key managerial personnel or
24/05/1941 24/04/1947 11/08/1958 02/03/1945
director
Designation of key managerial personnel or director Director Director Director Director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 0 0 0
Perquisites key managerial personnel or
0 0 0 0
director
Profits in lieu of salary key managerial
0 0 0 0
personnel or director
Gross salary to key managerial personnel or
0 0 0 0
director
Sitting fees key managerial personnel or
0 0 0 0
director
Stock option key managerial personnel or
0 0 0 0
director
Sweat equity key managerial personnel or
0 0 0 0
director
Commission as percentage of profit key
0 0 0 0
managerial personnel or director
Other commission key managerial personnel or
0 0 0 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
0 0 0 0
remuneration

288
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(4)
Unless otherwise specified, all monetary values are in Lakhs of INR
Key managerial personnels and directors [Axis] 13 14 15
01/04/2022 01/04/2022 01/04/2022
to to to
31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors [Abstract]
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[LineItems]
AVUDAIAPPAN A K I L E S H SANTHAKUMAR
Name of key managerial personnel or director KASIRAJAN SRINIVAS SENTHILMURUGAN
Permanent account number of key managerial personnel or director AVFPK6417R FMDPS9549Q BGZPS1470G
Date of birth of key managerial personnel or director 01/01/1900 01/01/1900 01/01/1900
Designation of key managerial personnel or director CEO Company Secretary CFO
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 0 0 0
Perquisites key managerial personnel or director 0 0 0
Profits in lieu of salary key managerial personnel or director 0 0 0
Gross salary to key managerial personnel or director 0 0 0
Sitting fees key managerial personnel or director 0 0 0
Stock option key managerial personnel or director 0 0 0
Sweat equity key managerial personnel or director 0 0 0
Commission as percentage of profit key managerial personnel or
0 0 0
director
Other commission key managerial personnel or director 0 0 0
Other compensation key managerial personnel or director 0 0 0
Total key managerial personnel or director remuneration 0 0 0

[612200] Notes - Leases

Disclosure of recognised finance lease as assets by lessee [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of assets [Axis] Property, plant and equipment [Member]
Carrying amount, accumulated depreciation, amortisation and
Carrying amount [Member] Gross carrying amount [Member]
impairment and gross carrying amount [Axis]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of recognised finance lease as assets by
lessee [Abstract]
Disclosure of recognised finance lease as
assets by lessee [Line items]
Recognised finance lease as assets 820.52 872.72 820.52 872.72

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of leases [TextBlock]
Whether company has entered into any lease agreement Yes Yes
Disclosure of recognised finance lease as assets by lessee [TextBlock]
Whether any operating lease has been converted to financial lease or
Yes Yes
vice-versa

If yes, details of such conversions [TextBlock] GYTEYTRYTRYT YUTYTYTEY

289
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[612300] Notes - Transactions involving legal form of lease

Disclosure of detailed information about arrangements involving legal form of lease [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Arrangements involving legal form of lease [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of detailed information about arrangements involving legal form of lease
[Abstract]
Disclosure of detailed information about arrangements involving legal form of lease
[Line items]
Textual
Textual information
Description of arrangement involving legal form of lease information (48)
(49) [See below]
[See below]
Amount recognised as income from arrangement involving legal form of lease 820.52 872.72
Operating lease
Finance lease
commitments —
commitments — The
The Company has
Description of line item of statement of comprehensive income in Company has not
not leased out any
entered into any
which amount recognised as income from arrangement involving legal asset during the
Financial Lease
form of lease is included year ending
obligations during
31.3.23 or during
current year as well as
the 2 previous
last 2 previous years.
years.

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease Yes Yes
Disclosure of detailed information about arrangements involving legal
form of lease [TextBlock]

Textual information (48)

Description of arrangement involving legal form of lease

Operating Lease Commitments - The company, as lessee has entered into operating lease for Land - for Factory use & Solar Plant. These
leases have long tenure and with non-cancellable contract period. Also the lease rentals are fixed and payable monthly. There is no escalation
clause on this lease rent. The Company has paid INR 52.20 lakhs (31 March 2022: INR 32.67 lakhs ) net of tax credits during the year
towards minimum lease payment. Future minimum rentals payable under non-cancellable operating leases

Textual information (49)

Description of arrangement involving legal form of lease

he company, as lessee has entered into operating lease for Land - for Factory use & Solar Plant. These leases have long tenure and with
non-cancellable contract period. Also the lease rentals are fixed and payable monthly. There is no escalation clause on this lease rent. The
Company has paid INR 52.20 lakhs (31 March 2022: INR 32.67 lakhs ) net of tax credits during the year towards minimum lease payment.
Future minimum rentals payable under non-cancellable operating

290
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[612900] Notes - Insurance contracts

Disclosure of types of insurance contracts [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Types of insurance contracts [Axis] Life insurance contracts [Member]
Insurance contracts [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Income arising from insurance contracts 5,00,000 70,000
Expense arising from insurance contracts 40,000 3,000
Disclosure of types of insurance contracts [Abstract]
Disclosure of types of insurance contracts [Line items]
Nature of insurance contracts life insaurance life insuarence
Income arising from insurance contracts 5,00,000 70,000
Expense arising from insurance contracts 40,000 3,000
Nature of insurance contracts life insaurance life insuarence
Income arising from insurance contracts 5,00,000 70,000
Expense arising from insurance contracts 40,000 3,000

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 Yes Yes
Disclosure of amounts arising from insurance contracts [TextBlock]
Assets arising from insurance contracts 0 0
Assets under insurance contracts and reinsurance contracts issued 0 0
Deferred acquisition costs arising from insurance contracts 0 0 0
Total liabilities under insurance contracts and reinsurance
0 0
contracts issued
Additions other than through business combinations,
liabilities under insurance contracts and reinsurance 0 0
contracts issued
Total increase (decrease) in liabilities under insurance
0 0
contracts and reinsurance contracts issued
Liabilities under insurance contracts and reinsurance contracts
0 0
issued at end of period
Acquisitions through business combinations, deferred
0 0
acquisition costs arising from insurance contracts
Total increase (decrease) in deferred acquisition costs arising
0 0
from insurance contracts
Deferred acquisition costs arising from insurance contracts at end
0 0 0
of period
Disclosure of types of insurance contracts [TextBlock]
Disclosure of net, gross and reinsurer's share for amounts arising from
insurance contracts [TextBlock]

[613100] Notes - Effects of changes in foreign exchange rates

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR

291
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[500100] Notes - Subclassification and notes on income and expenses

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 58,706 51,728
Revenue from sale of services 0 0
Total revenue from operations other than finance company 58,706 51,728
Disclosure of revenue from operations for finance company [Abstract]
Revenue from interest (A) 233 (B) 262
Total revenue from operations finance company 233 262
Total revenue from operations 58,939 51,990
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on non-current investments [Abstract]
Interest on fixed deposits, non-current investments (C) 572 (D) 423
Total interest income on non-current investments 572 423
Total interest income 572 423
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current equity securities 1,190 323
Dividend income current mutual funds 15 0
Total dividend income current investments 1,205 323
Total dividend income 1,205 323
Rental income on investment property [Abstract]
Rental income on investment property, current 1 1
Total rental income on investment property 1 1
Other non-operating income [Abstract]
Miscellaneous other non-operating income (E) 1,587 (F) 1,002
Total other non-operating income 1,587 1,002
Total other income 3,365 1,749
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense non-current loans [Abstract]
Interest expense non-current loans, banks 26 26
Interest expense non-current loans, others 5 5
Total interest expense non-current loans 31 31
Total interest expense 31 31
Total finance costs 31 31
Employee benefit expense [Abstract]
Salaries and wages 1,896 1,694
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 310 240
Total contribution to provident and other funds 310 240
Staff welfare expense 469 399
Total employee benefit expense 2,675 2,333
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 1,867 1,710
Amortisation expense 13 21
Total depreciation, depletion and amortisation expense 1,880 1,731
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 754 714
Power and fuel 2,150 1,951
Rent 97 79
Repairs to building 193 184

292
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Repairs to machinery 429 385

Insurance 128 112
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 70 118
Total rates and taxes excluding taxes on income 70 118

Subscriptions membership fees (G) 9

(H) 16
Printing stationery 24 21
Travelling conveyance 156 96
Legal professional charges 109 97
Vehicle running expenses 52 49
Safety security expenses 108 88
Directors sitting fees 0 0
Donations subscriptions 0 35
Books periodicals 2 1
Commission paid other selling agents 74 56
Secondary packing expenses 302 288

Discounting charges (I) 274 (J) 223

Cost transportation [Abstract]
Cost freight 1,384 1,867
Total cost transportation 1,384 1,867
Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
0 0
depreciable property plant and equipment
Payments to auditor [Abstract]
Payment for audit services 7 7
Total payments to auditor 7 7
CSR expenditure 159 73

Miscellaneous expenses (K) 919 (L) 512

Total other expenses (M) 7,400 (N) 6,972
Current tax [Abstract]
Current tax pertaining to previous years 0 1,860
Current tax pertaining to current year 2,220 0
MAT credit recognised during year -74 -3

Total current tax (O) 2,294 (P) 1,863

293
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

(i) Processing Charges Received 29

(ii) Export Benefits 53

(iii) Wind Power sales 151

(B)
Particulars 2021-22

(i) Processing Charges Received 24

(ii) Export Benefits 108

(iii) Wind Power sales 130

(C)
Particulars 2022-23

- Bank Deposits 559

- Other deposits 13

(D)
Particulars 2021-22

- Bank Deposits 414

- Other deposits 9

(E)
Particulars 2022-23

Captive Power Generation - Wind 938

Captive Power Generation - Solar 359

Foreign Exchange Fluctuation 161

Recoveries and others 129

(F)
Particulars 2021-22

Captive Power Generation - Wind 850

Captive Power Generation - Solar 5

Foreign Exchange Fluctuation 142

Recoveries and others 5

(G)
Particulars 2022-23

Subscription & Membership Fees 9

Seminar & Delegation Fees 0

Sponsorship 0

(H)
Particulars 2021-22

Subscription & Membership Fees 8

Seminar & Delegation Fees 1

294
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Sponsorship 7

(I)
Particulars 2022-23

Target discount on sales 196

Rebate on Sales 78

(J)
Particulars 2021-22

Target discount on sales 170

Rebate on Sales 53

(K)
Particulars 2022-23

Laboratory Chemicals & Expenses 15

Research & Development Expenses 9

Others 23

Wind farm Expenses 519

Solar farm Expenses 49

Communication expenses 18

Sitting Fees 46

Miscellaneous expenses 173

Advertisement and sales promotion expenses 67

(L)
Particulars 2021-22

Laboratory Chemicals & Expenses 20

Research & Development Expenses 17

Others 24

Wind farm Expenses 343

Solar farm Expenses 0

Communication expenses 23

Sitting Fees 47

Miscellaneous expenses 35

Advertisement and sales promotion expenses 3

(M)
Particulars 2022-23

Other Expenses 7241

Corporate Social Responsibility Expenses 159

(N)
Particulars 2021-22

Other Expenses 6899

295
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Corporate Social Responsibility Expenses 73

(O)
Particulars 2022-23

Current tax 2220

Adjustment of current tax relating to earlier years 74

(P)
Particulars 2021-22

Current tax 1860

Adjustment of current tax relating to earlier years 3

[613200] Notes - Cash flow statement

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of cash flow statement [TextBlock]
Cash and cash equivalents cash flow statement 1,308 2,144 1,345
Cash and cash equivalents classified as part of disposal group held for
13,880 5,948
sale
Other differences to cash and cash equivalents in statement of cash
0 0
flows
Cash and cash equivalents 15,188 8,092
Income taxes paid (refund), classified as operating activities 2,267 2,254
Total income taxes paid (refund) 2,267 2,254

[500200] Notes - Additional information statement of profit and loss

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods 425 -468
Changes in inventories of work-in-progress 390 -334
Changes in inventories of stock-in-trade 22 3
Total changes in inventories of finished goods, work-in-progress and
837 -799
stock-in-trade
Domestic sale manufactured goods 53,176 47,634
Domestic sale traded goods 5,530 4,094
Total domestic turnover goods, gross 58,706 51,728
Total revenue from sale of products 58,706 51,728
Total revenue from sale of services 0 0
Gross value of transaction with related parties 540.27 706.01
Bad debts of related parties 0 0

296
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[611200] Notes - Fair value measurement

Disclosure of fair value measurement of assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Recurring fair
value
Measurement [Axis] At fair value [Member]
measurement
[Member]
Classes of assets
Classes of assets [Axis] Classes of assets [Member]
[Member]
All levels of fair
Levels of fair value hierarchy [Axis] All levels of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 1,494 1,494 1,494 1,494
Description of valuation techniques used in Refer to child
Refer to child member Refer to child member
fair value measurement, assets member
Reconciliation of changes in fair value
measurement, assets [Abstract]
Assets at end of period 1,494 1,494 1,494 1,494
Description of line items in profit or loss
Refer to child
where gains (losses) are recognised, fair Refer to child member Refer to child member
member
value measurement, assets
Description of line items in other
Refer to child
comprehensive income where gains (losses) are Refer to child member Refer to child member
member
recognised, fair value measurement, assets

Disclosure of fair value measurement of assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of assets [Axis] Classes of assets [Member] Trading equity securities [Member]
All levels of fair value hierarchy All levels of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 1,494 1,494 1,494 1,494
Description of valuation techniques used in Refer to child Refer to child
Refer to child member
fair value measurement, assets member member
Reconciliation of changes in fair value
measurement, assets [Abstract]
Assets at end of period 1,494 1,494 1,494 1,494
Description of line items in profit or loss
Refer to child Refer to child
where gains (losses) are recognised, fair Refer to child member
member member
value measurement, assets
Description of line items in other
Refer to child Refer to child
comprehensive income where gains (losses) are Refer to child member
member member
recognised, fair value measurement, assets

297
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of assets [Axis] Trading equity securities [Member]
All levels of fair
Levels of fair value hierarchy [Axis] value hierarchy Level 1 of fair value hierarchy [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 1,494 1,494 1,494 1,494
Description of valuation techniques used in
INVESTMENT INVESTMENT
fair value measurement, assets
Reconciliation of changes in fair value
measurement, assets [Abstract]
Assets at end of period 1,494 1,494 1,494 1,494
Description of line items in profit or loss
where gains (losses) are recognised, fair TESDTREDR YDYRFT
value measurement, assets
Description of line items in other
comprehensive income where gains (losses) are RERRR RTTET
recognised, fair value measurement, assets

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Recurring fair value measurement
Measurement [Axis] At fair value [Member]
[Member]
Classes of liabilities [Axis] 1 1
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member
Disclosure of significant unobservable inputs
used in fair value measurement of liabilities
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
liabilities [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member

298
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Recurring fair
value
Measurement [Axis] At fair value [Member]
measurement
[Member]
Classes of liabilities [Axis] 1 1
All levels of fair
Levels of fair value hierarchy [Axis] All levels of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Refer to child
Nature of liabilities Refer to child member Refer to child member
member
Liabilities 779 1,494 1,494 779
Description of valuation techniques used in Refer to child
Refer to child member Refer to child member
fair value measurement, liabilities member
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, 715 715
liabilities
Total increase (decrease) in fair value
-715 -715
measurement, liabilities
Liabilities at end of period 779 1,494 1,494 779
Description of line items in profit or loss
Refer to child
where gains (losses) are recognised, fair Refer to child member Refer to child member
member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Refer to child
Refer to child member Refer to child member
recognised, fair value measurement, member
liabilities
Refer to child
Nature of liabilities Refer to child member Refer to child member
member

299
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 1
All levels of fair value hierarchy Level 1 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
TRADE
Nature of liabilities Refer to child member
PAYABLE
TRADE PAYABLE

Liabilities 1,494 1,494 783 1,417

Level 1 - Quoted Level 1 - Quoted
prices (unadjusted) prices (unadjusted) in
Description of valuation techniques used in
Refer to child member in active markets active markets for
fair value measurement, liabilities for identical assets identical assets or
or liabilities liabilities
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, 634
liabilities
Total increase (decrease) in fair value
-634
measurement, liabilities
Liabilities at end of period 1,494 1,494 783 1,417
Level 1 - Quoted Level 1 - Quoted
Description of line items in profit or loss prices (unadjusted) prices (unadjusted) in
where gains (losses) are recognised, fair Refer to child member in active markets active markets for
value measurement, liabilities for identical assets identical assets or
or liabilities liabilities
Description of line items in other Level 1 - Quoted Level 1 - Quoted
prices (unadjusted) prices (unadjusted) in
comprehensive income where gains (losses) are
Refer to child member in active markets active markets for
recognised, fair value measurement, for identical assets identical assets or
liabilities or liabilities liabilities
TRADE
Nature of liabilities Refer to child member
PAYABLE
TRADE PAYABLE

300
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(3)

Unless otherwise specified, all monetary values are in Lakhs of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 1
Level 1 of fair
Levels of fair value hierarchy [Axis] value hierarchy Level 2 of fair value hierarchy [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Nature of liabilities OTHER LIABILTIES OTHER LIABILTIES
Liabilities 1,417 -4 77 77
Level 2 - Inputs other than Level 2 - Inputs other than
quoted prices included quoted prices included
within Level 1 that are within Level 1 that are
Description of valuation techniques used in
observable for the asset or observable for the asset or
fair value measurement, liabilities liability, either directly (i.e, liability, either directly (i.e,
as prices) or indirectly (i.e., as prices) or indirectly (i.e.,
derived from prices) derived from prices)
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, 81
liabilities
Total increase (decrease) in fair value
-81
measurement, liabilities
Liabilities at end of period 1,417 -4 77 77
Level 2 - Inputs other than Level 2 - Inputs other than
quoted prices included quoted prices included
Description of line items in profit or loss within Level 1 that are within Level 1 that are
where gains (losses) are recognised, fair observable for the asset or observable for the asset or
value measurement, liabilities liability, either directly (i.e, liability, either directly (i.e,
as prices) or indirectly (i.e., as prices) or indirectly (i.e.,
derived from prices) derived from prices)
Level 2 - Inputs other than Level 2 - Inputs other than
Description of line items in other quoted prices included quoted prices included
within Level 1 that are within Level 1 that are
comprehensive income where gains (losses) are
observable for the asset or observable for the asset or
recognised, fair value measurement, liability, either directly (i.e, liability, either directly (i.e,
liabilities as prices) or indirectly (i.e., as prices) or indirectly (i.e.,
derived from prices) derived from prices)
Nature of liabilities OTHER LIABILTIES OTHER LIABILTIES

301
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of equity [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Recurring fair value measurement
Measurement [Axis] At fair value [Member]
[Member]
Classes of entity's own equity instruments [Axis] 1 1
All levels of fair value hierarchy All levels of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement of equity
[Abstract]
Disclosure of fair value measurement of equity
[Line items]
Equity 0 0 0 0
Description of valuation techniques used
Refer to child Refer to child Refer to child Refer to child
in fair value measurement, entity's own member member member member
equity instruments
Reconciliation of changes in fair value
measurement, entity's own equity
instruments [Abstract]
Changes in fair value measurement,
entity's own equity instruments
[Abstract]
Total increase (decrease) in fair value
measurement, entity's own equity 0 0 0 0
instruments
Equity at end of period 0 0 0 0
Description of line items in profit or loss
where gains (losses) are recognised, fair Refer to child Refer to child Refer to child Refer to child
value measurement, entity's own equity member member member member
instruments
Description of line items in other
comprehensive income where gains (losses) Refer to child Refer to child Refer to child Refer to child
are recognised, fair value measurement, member member member member
entity's own equity instruments

Disclosure of fair value measurement of equity [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Recurring fair value measurement
Measurement [Axis]
[Member]
Classes of entity's own equity instruments [Axis] 1
Level 1 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of fair value measurement of equity [Abstract]
Disclosure of fair value measurement of equity [Line items]
Equity 0 0
Description of valuation techniques used in fair value measurement, entity's own
AT COST AT COST
equity instruments
Reconciliation of changes in fair value measurement, entity's own equity
instruments [Abstract]
Changes in fair value measurement, entity's own equity instruments [Abstract]
Total increase (decrease) in fair value measurement, entity's own equity
0 0
instruments
Equity at end of period 0 0
Description of line items in profit or loss where gains (losses) are
AT COST AT COST
recognised, fair value measurement, entity's own equity instruments
Description of line items in other comprehensive income where gains
(losses) are recognised, fair value measurement, entity's own equity AT COST AT COST
instruments

302
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value Yes Yes
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value Yes Yes
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value Yes Yes
Disclosure of significant unobservable inputs used in fair value
measurement of liabilities [TextBlock]

[613300] Notes - Operating segments

Disclosure of major customers [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Major customers [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Revenue from external customers 20,000 5,00,000
Revenue from external customers 20,000 5,00,000
Disclosure of major customers [Abstract]
Disclosure of major customers [Line items]
Name of major customers sahil sachin
Revenue from external customers 20,000 5,00,000
Percentage of entity's revenue 20.00% 75.00%

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of entity's operating segments [TextBlock]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments No No
Disclosure of products and services [TextBlock]
Disclosure of geographical areas [TextBlock]
Disclosure of major customers [TextBlock]
Whether there are any major customers Yes Yes

[610700] Notes - Business combinations

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Business combinations [Axis] 1
Carrying amount, accumulated depreciation, amortisation and
Gross carrying amount [Member] Accumulated impairment [Member]
impairment and gross carrying amount [Axis]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in
goodwill [Line items]
Name of acquiree 450000 0 78546 0
Reconciliation of changes in goodwill [Abstract]
Changes in goodwill [Abstract]
Total increase (decrease) in goodwill 0 0
Goodwill at end of period 0 0

303
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of acquired receivables [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Business combinations [Axis] 1
Loans acquired in business combination Direct finance leases acquired in
Classes of acquired receivables [Axis]
[Member] business combination [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of acquired receivables [Abstract]
Disclosure of acquired receivables [Line items]
TATA POWER TATA POWER
Name of acquiree LIMITED LIMITED
SACHIN SACHIN

Fair value of acquired receivables 65,452 7,477 45,871 45,111

Disclosure of contingent liabilities in business combination [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Business combinations [Axis] 1
Classes of contingent liabilities [Axis] Tax contingent liability [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of contingent liabilities in business combination [Abstract]
Disclosure of contingent liabilities in business combination [Line items]
Description of nature of obligation, contingent liabilities in business
SALES TAX SALES TAX
combination
Estimated financial effect, contingent liabilities in business combination 161.25 565.91

Disclosure of detailed information about business combination [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Business combinations [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of detailed information about business combination [Abstract]
Disclosure of detailed information about business combination [Line items]
THE METAL THE METAL
POWDER POWDER
Name of acquiree COMPANY COMPANY
LIMITED LIMITED
Date of acquisition 16/07/2024 16/07/2024
Percentage of voting equity interests acquired 75.00% 75.00%
Acquisition-date fair value of total consideration transferred [Abstract]
Equity interests of acquirer 2,000 200
Total consideration transferred, acquisition-date fair value 2,000 200
Amounts recognised as of acquisition date for each major class of assets
acquired and liabilities assumed [Abstract]
Property, plant and equipment recognised as of acquisition date 17
Net identifiable assets acquired (liabilities assumed) 17 0
THE METAL THE METAL
POWDER POWDER
Name of acquiree COMPANY COMPANY
LIMITED LIMITED

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of detailed information about business combinations [TextBlock]
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination Yes Yes
Disclosure of transactions recognised separately from acquisition
of assets and assumption of liabilities in business combination
[TextBlock]
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination Yes Yes
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination Yes Yes

304
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[611500] Notes - Interests in other entities

Details of associates liquidated or sold during year [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates liquidated or sold during year
1 2
[Axis]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Details of associates liquidated or
sold during
year [Abstract]
Details of associates liquidated
or sold
during year [LineItems]
Name of associate liquidated
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
or sold during PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
year
Country of incorporation or
residence
of associate liquidated or sold INDIA INDIA INDIA INDIA
during
year
CIN of associate liquidated or
sold during U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
year

Details of associates liquidated or sold during year [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates liquidated or sold during year
3 4
[Axis]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Details of associates liquidated or
sold during
year [Abstract]
Details of associates liquidated
or sold
during year [LineItems]
Name of associate liquidated
PANDIAN CHEMICALS PANDIAN CHEMICALS ALUMINIUM POWDER ALUMINIUM POWDER
or sold during LIMITED LIMITED COMPANY LIMITED COMPANY LIMITED
year
Country of incorporation or
residence
of associate liquidated or sold INDIA INDIA INDIA INDIA
during
year
CIN of associate liquidated or
sold during U24297TN1972PLC006245 U24297TN1972PLC006245 U27203TN1983PLC009916 U27203TN1983PLC009916
year

305
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of details of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Subsidiaries [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of subsidiaries
[Abstract]
Disclosure of subsidiaries [Line
items]
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of subsidiary PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
CIN of subsidiary company U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Section under which company
Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii)
became subsidiary
Whether subsidiary has filed
Yes Yes Yes Yes
balance sheet
SRN of filing of balance sheet
Z78459123 Z78459123 Z32587469 Z32587469
by subsidiary
Whether financial year of
subsidiary
different from financial year of No No No No

holding company
Financial year of subsidiary
[Abstract]
Start date of accounting
period of 01/04/2022 01/04/2022 01/04/2022 01/04/2022
subsidiary
End date of accounting
period of 31/03/2023 31/03/2023 31/03/2023 31/03/2023
subsidiary
Percentage of shareholding in
75.00% 15.00% 50.00% 45.00%
subsidiary
Key information about
subsidiary [Abstract]
Reporting currency of
INR INR INR INR
subsidiary
Exchange rate as applicable
758 61 784 64
for subsidiary
Share capital of subsidiary 758 1,000 8,200 560
Reserves and surplus of
7,58,000 3,00,000 30,000 45,000
subsidiary
Total assets of subsidiary 8,00,000 10,00,000 8,00,000 6,00,000
Total liabilities of subsidiary 6,00,000 8,00,000 50,000 4,00,000
Investment of subsidiary 4,50,000 3,00,000 4,00,000 50,000
Profit before tax of
8,00,000 8,00,000 6,50,000 1,50,000
subsidiary
Provision for tax of
6,00,000 1,00,000 3,50,000 20,000
subsidiary
Profit after tax of subsidiary 2,00,000 7,00,000 3,00,000 1,30,000
Proposed dividend of
0 0 0 0
subsidiary
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of subsidiary PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
CIN of subsidiary company U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848

306
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of associates [Abstract]

Disclosure of associates [Line

items]
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of associate entity PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
Country of incorporation of
INDIA INDIA INDIA INDIA
associate
CIN of associate entity U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Latest audited balance sheet
13/08/2023 13/08/2023 13/08/2023 13/08/2023
date
Whether associate has been
considered in No No No No
consolidation
Reason why associate is not
hfdghfdh htyhthd dhhfdh hgdhgdhg
consolidated
Proportion of ownership
75.00% 75.00% 80.00% 80.00%
interest in associate
Proportion of voting rights
50.00% 50.00% 20.00% 20.00%
held in associate
Amount of investment in
75,000 50,000 6,222 45,000
associate
Number of shares held of
[shares] 200 [shares] 200 [shares] 300 [shares] 10
associate
Latest audited balance sheet
13/08/2023 13/08/2023 13/08/2023 13/08/2023
date

Disclosure of associates [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of associates [Abstract]

Disclosure of associates [Line

items]
PANDIAN CHEMICALS PANDIAN CHEMICALS ALUMINIUM POWDER ALUMINIUM POWDER
Name of associate entity LIMITED LIMITED COMPANY LIMITED COMPANY LIMITED
Country of incorporation of
INDIA INDIA INDIA INDIA
associate
CIN of associate entity U24297TN1972PLC006245 U24297TN1972PLC006245 U27203TN1983PLC009916 U27203TN1983PLC009916
Latest audited balance sheet
13/08/2023 13/08/2023 13/08/2023 13/08/2023
date
Whether associate has been
considered in No No No No
consolidation
Reason why associate is not
hdfhfh hghdh hdfhfdh hdghfdhf
consolidated
Proportion of ownership
60.00% 60.00% 70.00% 70.00%
interest in associate
Proportion of voting rights
12.00% 12.00% 46.00% 46.00%
held in associate
Amount of investment in
4,50,000 2,000 20,000 1,00,000
associate
Number of shares held of
[shares] 100 [shares] 20 [shares] 10 [shares] 50
associate
Latest audited balance sheet
13/08/2023 13/08/2023 13/08/2023 13/08/2023
date

307
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of information about unconsolidated subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Unconsolidated subsidiaries [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of subsidiary PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
CIN of subsidiary company U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Description of nature and
extent of
dsfdsf grgrrtrt efdf gtragtregt
significant restrictions on
transfer of funds to parent
Disclosure of information about
unconsolidated
subsidiaries [Abstract]
Disclosure of information about
unconsolidated subsidiaries
[Line items]
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of subsidiary PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
CIN of subsidiary company U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Proportion of ownership
interest in 40.00% 40.00% 20.00% 65.00%
subsidiary
Proportion of voting rights
held in 20.00% 20.00% 20.00% 20.00%
subsidiary
Description of nature and
extent of
dsfdsf grgrrtrt efdf gtragtregt
significant restrictions on
transfer of funds to parent

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies Yes Yes
Number of subsidiary companies [pure] 2 [pure] 2
Whether company has subsidiary companies which are yet to commence
Yes Yes
operations
Whether company has subsidiary companies liquidated or sold during
Yes Yes
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates Yes Yes
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year Yes Yes
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity

308
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[611400] Notes - Separate financial statements

Disclosure of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Subsidiaries [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of subsidiaries [Abstract]

Disclosure of subsidiaries [Line

items]
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of subsidiary PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
CIN of subsidiary company U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
Proportion of ownership interest
65.00% 45.00% 70.00% 60.00%
in subsidiary
Proportion of voting rights held
50.00% 54.00% 60.00% 45.00%
in subsidiary

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of associates [Abstract]
Disclosure of associates [Line
items]
NALCO METAL NALCO METAL MDL INDUSTRIES MDL INDUSTRIES
Name of associate entity PRODUCTS LTD PRODUCTS LTD LIMITED LIMITED
CIN of associate entity U28100TN1974PLC006569 U28100TN1974PLC006569 U15549TN1989PLC017848 U15549TN1989PLC017848
Country of incorporation of
INDIA INDIA INDIA INDIA
associate
Proportion of ownership interest
75.00% 75.00% 80.00% 80.00%
in associate
Proportion of voting rights held
50.00% 50.00% 20.00% 20.00%
in associate

Disclosure of associates [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Associates [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of associates [Abstract]
Disclosure of associates [Line
items]
PANDIAN CHEMICALS PANDIAN CHEMICALS ALUMINIUM POWDER ALUMINIUM POWDER
Name of associate entity LIMITED LIMITED COMPANY LIMITED COMPANY LIMITED
CIN of associate entity U24297TN1972PLC006245 U24297TN1972PLC006245 U27203TN1983PLC009916 U27203TN1983PLC009916
Country of incorporation of
INDIA INDIA INDIA INDIA
associate
Proportion of ownership interest
60.00% 60.00% 70.00% 70.00%
in associate
Proportion of voting rights held
12.00% 12.00% 46.00% 46.00%
in associate

309
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of separate financial statements [TextBlock]
Disclosure of subsidiaries [TextBlock]
Disclosure of associates [TextBlock]

A T
COST
Method used to account for investments in subsidiaries AT COST

A T
COST
Method used to account for investments in joint ventures AT COST

A T
COST
Method used to account for investments in associates AT COST

Statement that investment entity prepares separate financial BALANCE SHEET BALANCE SHEET
statements as its only financial statements

CASH FLOW
Description of identification of financial statements to which separate CASH FLOW STATEMENT
financial statements relate STATEMENT

310
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[610800] Notes - Related party

Disclosure of transactions between related parties [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Ayyan Fireworks Ayyan Fireworks
Standard Fireworks Standard Fireworks
Name of related party Private Limited Private Limited
Factory Private Factory Private
Limited Limited
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAPS4654L AAACS7845K AAAPA4875K AAACA5632L
Description of nature of transactions with
furniture sale FURNITUR sale of goods GOODS
related party
Description of nature of related party HOLDING HOLDING HOLDING HOLDING
relationship COMPANY COMPANY COMPANY COMPANY
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Disclosure of transactions between related parties [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of transactions between related parties [Abstract]
Disclosure of transactions between related parties [Line items]
Meenakshi Match Meenakshi Match
Name of related party Industries Industries
Country of incorporation or residence of related party INDIA INDIA
Permanent account number of related party AAAPM9654L AAACM0125P
Description of nature of transactions with related party sale of services RAW MATERIALS
HOLDING HOLDING
Description of nature of related party relationship COMPANY COMPANY
Related party transactions [Abstract]
Other related party transactions contribution received 0 0
Outstanding balances for related party transactions [Abstract]
Amounts payable related party transactions 0 0
Amounts receivable related party transactions 0 0
Outstanding commitments made by entity, related party transactions 0 0
Outstanding commitments made on behalf of entity, related party transactions 0 0
Provisions for doubtful debts related to outstanding balances of related party
0 0
transaction
Expense recognised during period for bad and doubtful debts for related party
0 0
transaction

311
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of related party [TextBlock]
Whether there are any related party transactions during year Yes Yes
Disclosure of transactions between related parties [TextBlock]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company No No
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)

[611700] Notes - Other provisions, contingent liabilities and contingent assets

Disclosure of contingent liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classes of contingent liabilities [Axis] Tax contingent liability [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Description of nature of obligation, contingent liabilities sales tax sales tax
Estimated financial effect of contingent liabilities 161.25 565.91

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of other provisions, contingent liabilities and contingent assets
[TextBlock]
Disclosure of other provisions [TextBlock]
Disclosure of contingent liabilities [TextBlock]
Whether there are any contingent liabilities Yes Yes

[700200] Notes - Corporate social responsibility

Disclosure of net profits for last three financial years [Table] ..(1)
Unless otherwise specified, all monetary values are in Lakhs of INR
Financial year 1 Financial year 2 Financial year 3
Net profits for last three financial years [Axis]
[Member] [Member] [Member]
01/04/2022 01/04/2022 01/04/2022
to to to
31/03/2023 31/03/2023 31/03/2023
Disclosure of net profits for last three financial years [Abstract]
Disclosure of net profits for last three financial years [LineItems]
Description of financial year 2021-20 2020-19 2019-18
Profit before tax of financial year 7,386 5,756 5,502.91
Net profit computed u/s 198 and adjusted as per rule 2(1)(f)
7,062.62 5,524.37 5,312.31
of Companies (CSR Policy) Rules, 2014

312
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Classification of CSR spending [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of CSR spending [Axis] 1
01/04/2022
to
31/03/2023
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Line items]
contribution to
CSR project or activity identified health care
Sector in which project is covered Health care
Name of state or union territory where projects or programs was undertaken Delhi (NCT)
Budget amount outlay project or program wise 200
Amount spent on projects or programs [Abstract]
Direct expenditure on projects or programs 200
Total amount spent on projects or programs 200
Other implementing
Mode of amount spent agencies

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022
to
31/03/2023
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
Yes
company
Whether company has written CSR policy Yes
Textual information (50)
Details CSR policy [TextBlock] [See below]
Average net profit for last three financial years 5,966.43
Prescribed CSR expenditure 119.33
Amount CSR to be spent for financial year 119.33
Amount CSR spent for financial year 159
Amount spent in local area 0

TATA POWER
LIMITED
Details of implementing agency

313
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (50)

Details CSR policy [Text Block]

42. Additional Disclosures

a. The title deeds of all the immovable properties of the company are with the company's name.

b. There is no benami property held by the company.

c. The company has no borrowings from banks or financial institutions.

d. The company is not declared as willful defaulter by any bank or financial institution

e. The company has no relationship with any struck off companies u/s 248 of the Companies Act 2013

f. There is no charges to be registered/ closed by the company.

g. The company has no crypto currency or virtual currency exposures

43. Previous Year Figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosure

314
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[610500] Notes - Events after reporting period

Disclosure of non-adjusting events after reporting period [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Classification of assets as held for sale Major ordinary share transactions
Non-adjusting events after reporting period [Axis]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of non-adjusting events after reporting
period [Abstract]
Disclosure of non-adjusting events after
reporting period [Line items]
Description of nature of non-adjusting event
FURNITURE MACHINERY 25000 20000
after reporting period
Explanation of financial effect of
non-adjusting event after reporting period JKGYUFYUF THTEH PLJIOH9GH DFHFDH
[TextBlock]

Disclosure of non-adjusting events after reporting period [Table] ..(2)

Unless otherwise specified, all monetary values are in Lakhs of INR
Changes in tax rates or tax laws enacted
Non-adjusting events after reporting period [Axis]
or announced [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of non-adjusting events after reporting period [Abstract]
Disclosure of non-adjusting events after reporting period [Line items]
Description of nature of non-adjusting event after reporting period .20 0.13
Explanation of financial effect of non-adjusting event after reporting period
LJPHIH FDHFH
[TextBlock]

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period Yes Yes

[612500] Notes - Share-based payment arrangements

Disclosure of terms and conditions of share-based payment arrangement [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR
Types of share-based payment arrangements [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of terms and conditions of share-based payment arrangement [Abstract]
Disclosure of terms and conditions of share-based payment arrangement [Line items]
The company has The company has not
not issued any issued any bonus
bonus shares during shares during the
Description of share-based payment arrangement the period of five period of five years
years immediately immediately
preceding the preceding the
reporting date reporting date

315
THE METAL POWDER COMPANY LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Lakhs of INR

01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of share-based payment arrangements [TextBlock]
Whether there are any share based payment arrangement Yes Yes
Disclosure of terms and conditions of share-based payment arrangement
[TextBlock]
Disclosure of terms and conditions of share-based payment arrangement
[Abstract]
Disclosure of number and weighted average exercise prices of share options
[TextBlock]
Number of share options outstanding in share based payment arrangement
[Abstract]
Number of share options expired in share-based payment arrangement [pure] 0 [pure] 0
Total changes of number of share options outstanding in share based
[pure] 0 [pure] 0
payment arrangement
Number of share options outstanding in share-based payment
[pure] 2,500 [pure] 2,500 [pure] 2,500
arrangement at end of period

[613000] Notes - Earnings per share

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of earnings per share [TextBlock]
Basic earnings per share [Abstract]
Diluted earnings per share [Abstract]
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss), attributable to ordinary equity holders of parent entity 0 0
Profit (loss), attributable to ordinary equity holders of parent
0 0
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 0 [shares] 0

[610900] Notes - First time adoption

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No

316