Notes to Accounts of Cubex Tubings Ltd.

Mar 31, 2026

a) Terms/ rights attached to the equity shares:

i) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each, holder of equity shares is entitled to one vote per share.

ii) The Company did not declare any dividend during the accounting period under reporting.

iii In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts in proportion to the number of equity shares held by the share holders.

iv No shares have been issued for consideration other than cash during the immediately preceding five years from the end of the

27. Contingent Liabilities				Rs. In Lakhs
	Particulars	Name of the Bank	As at 31-03-2026	As at 31-03-2025
	Bank Guarantee (Performance
	of Product & towards the	State Bank Of India,	348.52	163.64
	Security)	Axis Bank Ltd.

30. Segment Reporting is not applicable as the company operates in only one segment viz. Copper & Copper Alloy Products.

31. Closing Balances of Trade Receivables / Trade Payables / Loans & Advances are subject to confirmation from the parties.

32. There are no dues to SSI Units outstanding for more than 45 days.

33. Additional Regulatory Information

i. The title deeds, comprising all the immovable properties of land and buildings which are freehold, are held in the name of the Company as at the balance sheet date.

ii. The Company has not revalued its Property, Plant and Equipment since the Company has adopted cost model as its accounting policy to an entire class of Property, Plant and Equipment in accordance with Ind AS 16.

iii. The Company has not granted any loan or advance in the nature of loan to promoters, directors, KMPs and other related parties that are repayable on demand or without specifying any terms or period of repayment.

iv. There are no proceedings initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder

v. 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 security of current assets and the quarterly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of account of the Company

vi. The Company has not been declared as wilful defaulter by any bank or financial Institution or other lenders.

vii. The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or Section 560 of Companies Act, 1956 considering the information available with the Company.

viii. There are no charges or satisfactions yet to be registered with ROC beyond the statutory period by the Company.

*Debt-Equity Ratio - The ratio increased due to additional borrowings availed during the year. Consequently, total debt increased relative to shareholders'' equity.

**Debt Service Coverage Ratio - The ratio decreased due to higher debt servicing obligations arising from new borrowings. Increased principal repayments and interest costs reduced the DSCR.

***Inventory Turnover Ratio - The ratio decreased due to higher average inventory levels, including increased work-in-progress and raw material stocks. This resulted in slower inventory turnover during the year.

#Trade Payables Turnover Ratio - The ratio decreased due to higher average trade payables during the year. Increased purchases and higher outstanding supplier balances led to lower turnover.

##Net Capital Turnover Ratio - The ratio decreased due to higher working capital employed during the year. Growth in working capital exceeded the increase in revenue from operations.

###Net Profit Ratio - The ratio improved marginally due to a slight increase in profitability. Revenue growth was accompanied by improved operating performance.

x. There are no Scheme of Arrangements approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during the year.

xi. To the best of the company''s knowledge and belief, other than as disclosed in the notes to accounts, the company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xii. To the best of the company''s knowledge and belief, other than as disclosed in the notes to accounts, the company has also not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xiii. The Company does not have any transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 during the year.

xiv. The provisions of section 135 of the Companies Act, 2013 for constitution of CSR committee is not applicable to the Company.

xv. The Company did not trade or invest in Crypto Currency or virtual currency during the financial year.

xvi. Previous years'' figures are restated/regrouped/rearranged wherever necessary in order to conform to the current years'' grouping and classifications.

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Mar 31, 2025

o) Provisions, contingent liabilities and contingent assets:

Provisions for legal claims, volume discounts and returns are recognised when the
Company has a present legal or constructive obligation as a result of past events, it is
probable that an outflow of resources will be required to settle the obligation and the
amount can be reliably estimated. Provisions are not recognised for future operating
losses.

Where there are a number of similar obligations, the likelihood that an outflow will
be required in settlement is determined by considering the class of obligations as a
whole. A provision is recognized even if the likelihood of an outflow with respect to
any one item included in the same class of obligations may be small.

Provisions are measured at the present value of management''s best estimate of the

expenditure required to settle the present obligation at the end of the reporting
period. The discount rate used to determine the present value is a pre-tax rate that
reflects current market assessments of the time value of money and the risks specific
to the liability. The increase in the provisions due to the passage of time is recognized
as interest expense.

p) Cash flow statement:

Cash flows are reported using the indirect method, whereby profit before 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.

q) Critical accounting estimates and judgements:

The presentation of financial statements under Ind AS requires management to take
decisions and make estimates and assumptions that may impact the value of
revenues, costs, assets and liabilities and the related disclosures concerning the items
involved as well as contingent assets and liabilities at the balance sheet date.
Estimates and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future events that are believed
to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting
accounting estimates will, by definition, seldom equal the related actual results. The
areas involving critical estimates or judgements are:

a. Estimation of defined benefit obligation

b. Useful life of Property Plant and Equipment

c. Expected credit loss of financial assets

d. Income Taxes

r) Related Party Transactions:

The Company furnishes the Disclosure of transactions with related parties, as
required by Ind AS 24 "Related Party Disclosures" as prescribed by Companies

(Indian Accounting Standard) Rules 2015. Related parties as defined under Ind AS 24
have been identified on the basis of representation made by the management and
information available with the company.

SIGNATURE TO NOTES 1 To 33

As Per our Report of Even Date For and on Behalf of The Board

For JMT & Associates, Cubex Tubings Limited

Chartered Accountants,

FRN: 104167W

Sd/- Sd/- Sd/-

Vijaya Pratap M Virendra Bhandari Akshay Bhandari

Partner Managing Director Executive Director

Membership Number: 213766 DIN: 00062228 DIN: 09783327

UDIN: 25213766BMIXVG8377

Place: Hyderabad Sd/- Sd/-

Date: 15-05-2025 Siva Prasad Sarva Chandini K Moolchandani

Chief Financial Officer Company Secretary

M No: A47869

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Mar 31, 2024

27. ContingentLiabilities				Rs. InLak hs
	Particulars	NameoftheBank	Asat31- 03-2024	Asat31- 03-2023
	BankGuarantee(PerformanceofProduct	StateBankOfIndia,	260.10	67.07
	&towardstheSecurity)	AxisBankLtd.

30. SegmentReportingisnotapplicableasthecompanyoperatesinonlyonesegmentviz.Copper&Coppe rAlloy Products

31. ClosingBalancesofTradeReceivables/TradePayables/Loans&Advancesaresubjecttoconfirmati onfromtheparties.

32. TherearenoduestoSSIUnitsoutstandingformorethan45days.

33. AdditionalRegulatorylnformation

i. Thetitledeeds,comprisingalltheimmovablepropertiesoflandandbuildingswhicharefreeh old,areheldinthenameoftheCompanyasatthebalancesheetdate.

ii. TheCompanyhasnotrevalueditsProperty,PlantandEquipmentsincetheCompanyhasadoptedcostm odelasitsaccountingpolicytoanentireclassofProperty,PlantandEquipmentinaccordancewithIndAS 16.

iii. TheCompanyhasnotgrantedanyloanoradvanceinthenatureofloantopromoters,directors,KMPsan dotherrelatedpartiesthatarerepayableondemandorwithoutspecifyinganytermsorperiodofrepay ment.

iv. There are noproceedings initiated orare pending againstthe company for holding anybenamipropertyunderthe Benami Transactions(Prohibition)Act, 1988(45 of1988)and rulesmadethereunder

v. TheCompanyhasbeensanctionedworkingcapitallimitsinexcessoffivecrorerupees,inaggregate,fro mbanksorfinancialinstitutionsonthebasisofsecurityofcurrentassetsandthequarterlyreturnsorsta tementsfiledbythecompanywithsuchbanksorfinancialinstitutionsareinagreementwiththebookso faccountoftheCompany

vi. TheCompanyhasnotbeendeclaredaswillfuldefaulterbyanybankorfinancialInstitutionorotherlend ers.

vii. TheCompanydidnothaveanytransactionswithCompaniesstruckoffunderSection248ofCompani esAct,2013orSection560ofCompaniesAct,1956consideringtheinformationavailablewiththeCo mpany.

viii. TherearenochargesorsatisfactionsyettoberegisteredwithROCbeyondthestatutoryperiodbytheCo mpany.

*ReturnonEquityRatio: -

Profitaftertaxhasbeenincreasedastherevenuefromoperationsalsoincreasedasaresultofmoresaleo

rders

**TradePayablesTurnoverRatio:-

Increaseinpurchasesforproductionpurposeresultedinrapidsettlementofpayables.

***NetProfitRatio:-

Profitaftertaxhasbeenincreasedastherevenuefromoperationsalsoincreasedasaresultofmoresaleo

rders.

#ReturnonInvestment(Asset):-

TotalComprehensiveIncomehasbeenincreasedastherevenuefromoperationsalsoincreasedas

aresultofmoresaleorders.

x. TherearenoSchemeofArrangementsapprovedbytheCompetentAuthorityintermsofsections 230to237ofthe CompaniesAct,2013duringtheyear.

xi. Tothebestofthecompany''sknowledgeandbelief,otherthanasdisclosedinthenotestoaccounts,thecom panyhasnotadvancedorloanedorinvestedfunds(eitherborrowedfundsorsharepremiumoranyother sourcesorkindoffunds)toanyotherperson(s)orentity(ies),indudingforeignentities(Intermediaries) withtheunderstanding(whetherrecordedinwritingorotherwise)thattheIntermediaryshall(i)directl yorindirectlylendor

investinotherpersonsorentitiesidentifiedinanymannerwhatsoeverbyoronbehalfofthecompany(Ult

imateBeneficiaries)or(ii)provideanyguarantee,securityortheliketooronbehalfoftheUltimateBenefi

ciaries.

xii. Tothebestofthecompany''sknowledgeandbelief,otherthanasdisclosedinthenotestoaccounts,theco mpanyhasalsonotreceivedanyfundfromanyperson(s)orentity(ies),indudingforeignentities(Fundi ngParty)withtheunderstanding(whetherrecordedinwritingorotherwise)thatthecompanyshall(i)d ire ctlyorindirectlylendorinvestinotherpersonsorentitiesidentifiedinanymannerwhatsoeverbyoro nbehalfoftheFundingParty(UltimateBeneficiaries)or(ii)provideanyguarantee,securityorthelikeon behalfoftheUltimateBeneficiaries.

xiii. The Company does not have any transactions which are not recorded in the books of accountsthat has been surrendered or disclosed as income in the tax assessments under the Income TaxAct,1961duringtheyear.

xiv. Theprovisionsofsection135oftheCompaniesAct,2013forconstitutionofCSRcommitteeisnotappli abletotheCompany.

xv. TheCompanydidnottradeorinvestinCryptoCurrencyorvirtualcurrencyduringthefinancialy ear.

xvi. Previousyears''figuresarerestated/regrouped/rearrangedwherevernecessaryinordertoconfo rmtothecurrentyears''groupingandclassifications.

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Mar 31, 2015

I. CORPORATE INFORMATION

Cubex Tubings Limited (Company) was incorporated on August 10, 1979 under the laws of the republic of India and has its registered office at Secunderabad (Telangana). Company is a manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of copper and copper based alloys such as Cupronickel, admiralty Brass, Aluminum Brass etc. Copper because of its high electrical conductivity and heat transfer characteristics finds wide application in the form of Tubes, Rods, Strips and Wires. The user industries are Power plants, Power plants manufacturers, Switchgears, Refineries, Furnace manufacturers, Sugar plants, Automobile and Electrical Equipment industries.

1. Depreciation on Fixed Assets

A) In accordance with provisions of Schedule II of Companies Act,2013,in case of fixed assets which have completed the useful life as at 31st march 2014,the carrying value as on 1.04.2014 amounting to Rs 45,47,952/- has been recognized in the Retained earnings as a transitional provision.

Further in case of assets acquired prior to 1st April, 2014, the carrying value of assets is depreciated over the remaining useful life as specified in the companies Act, 2013 effectives April, 2014.

B) Consequent to the implementation of the provisions of the Schedule II of the Companies Act, 2013, the depreciation expenses for the year decreased by Rs. 26,77,564/-

2. Segment wise information is not furnished as the company operates in only one segment viz. Copper & Copper Alloy Products.

3. Closing Balances of Debtors / Creditors / Loans & Advances are subjected to confirmation from the Parties.

4. The Company has availed total amount of Rs.56,707,740/- towards the sales Tax deferment, which has been sanctioned to the company, of which fourth annual instalment of Rs.5,440,016 has been repaid during this Financial Year.

5. There are no dues to SSI Units outstanding for more than 45 days.

6. Previous year's figures have been regrouped wherever necessary.

7. The Figures have been rounded off to the nearest rupee.

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Mar 31, 2014

1. Detailed information regarding quantitative particulars under part II of schedule VI to the Companies Act,19S6: i) Quantitative information with regard to a) Installed Capacity per annum

2. Related Party Disclosures:

Particulars of Related Parties:

Name of the Related Party Nature of Relationship

Mr. P.R.Bhandari Managing Director

Mr. Virendra Bhandari Executive Director

Dr. Trilok Singh Director

Mr. Mahendra Ranka Director

Mr. Sandeep Kumar Director

Mr. Y. Narasimha Murthy Director

3. Contingent Liabilities: (Rs.)

As at As at

31-03-2014 31-03-2013

Bank Guarantee State Bank of Hyderabad, 30,073,024 30,436,706 (Performance of Axis Bank, IndusInd Bank, Product & towards HDFC & CITI Bank. The Security)

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Mar 31, 2013

BASIS OF PREPARATION:

The financial statements have been prepared to comply in all material respects with the accounting standards notified by Companies Accounting Standards Rules, 2006 and the relevant provisions of the Companies Act, 1956 (‘the Act''). The financial statements have been prepared under historical cost convention on an accrual basis in accordance with accounting principles generally accepted in India. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year:

USE OF ESTIMATES:

The preparation of financial statements is in conformity with generally accepted accounting principles require the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the result of operations during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates. Significant estimates used by the management in the preparation of these financial statements include estimates of the economic useful lives of fixed assets and provisions for bad and doubtful debts. Any revision to accounting estimates is recognized prospectively.

1. Segment wise information not being furnished as the company operates only one segment VIZ. Copper & Copper Alloy Products.

2. Closing Balances of Debtors / Creditors / Loans & Advances are subjected to confirmation from the Parties.

3. The Company has availed total amount of Rs.56,707,740/- towards the sales Tax deferment, which has been sanctioned to the company of which second instalment of Rs.1,643,472 has been repaid during this Financial Year.

4. There are no dues to SSI Units outstanding for more than 30 days.

5. Previous year''s figures have been regrouped wherever necessary.

6. The Figures have been rounded off to the nearest rupee.

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Mar 31, 2012

BASIS OF PREPARATION:

The financial statements have been prepared to comply in all material respects with the accounting standards notified by Companies Accounting Standards Rules, 2006 and the relevant provisions of the Companies Act, 1956 ("the Act). The financial statements have been prepared under historical cost convention on an accrual basis in accordance with accounting principles generally accepted in India. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year USE OF ESTIMATES:

The preparation of financial statements is in conformity with generally accepted accounting principles require the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the result of operations during the reporting period. Although these estimates are based upon managements best knowledge of current events and actions, actual results could differ from these estimates. Significant estimates used by the management in the preparation of these financial statements include estimates of the economic useful lives of fixed assets and provisions for bad and doubtful debts. Any revision to accounting estimates is recognized prospectively.

1. During this Financial year the company has forfeited the share warrants advance amount of Rs.2,800,000/- and the same was transferred to Capital Reserve.

2. During this Financial Year the Company has issued 4,500,000 Equity Shares at Rs.15 each (including Premium of Rs.5)

3. Detailed information regarding quantitative particulars under part II of schedule VI to the Companies Act, 1956:

i) Quantitative information with regard to

a) Licensed Capacity and

b) Installed Capacity per annum

4. Contingent Liabilities: (Rs.

As at 31-03-2012 As at 31-03-2011

Bank Guarantee (Performance of State Bank of Hyderabad, 23,889,655

14,575,000 Product & towards The Security) Axis Bank, Indusind Bank &CITI Bank.

5. Segment wise information not being furnished as the company operates only one segment VIZ.Copper & Copper Alloy Products.

6. Closing Balances of Debtors / Creditors / Loans & Advances are subjected to confirmation from.the Parties.

7. Previous year's numbers have been regrouped, rearranged, recasted, wherever necessary to confirm to Current Year Classification.

8. The Company has availed total amount of Rs.56,707,740/- towards the sales Tax deferment, which has been sanctioned to the company of which first instalment of Rs.1,943,915 has been repaid during this Financial Year.

9. The Figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. During the year the company has forfeited the share warrants advance amount of Rs.3,36,000/- and the same was transferred to Reserves & surplus.

2. Amount of delayed outstanding dues to Micro and Small Enterprise as per MSME Development Act, 2006, could not be ascertained at the end of the Financial Year.

3. FOREIGN EXCHANGE EARNINGS AND OUTFLOW: Particulars Nature of Currency Year 2010 -11 Year2009-10 Rs.Lakhs Rs.Lakhs EARNINGS On Export of Goods-0.3065,10 OUTFLOW Raw Materials-1005.701348.00

4. Segment wise information not being furnished as the company operates only one segment VIZ.Copper & Copper Alloy Products.

5. losing Balances of Debtors / Creditors / Loans & Advances are subjected to confirmation from.the parties

6. Previous year's numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

7. The company has been Registered with BIFR as a sick Industries and one time settlement with Bank and Financial Institute has since been made.

8. The Company has availed total amount of Rs.5,67,07,740/- towards the sales Tax deferment, which has been sanctioned to the company.

9. The paisa have been rounded off to the nearest rupee.

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Mar 31, 2010

1. Details information regarding quantitative particulars under part II of schedule vi to the Companies Act, 1956.

2. There are dues to SSI Unit outstanding for more than 30 days.

3. No confirmation were obtained from debtors/Creditors as to the balance revceivable from / payable to them as at yearend

4. In accordance with Accounting Standard 22 (AS 22) Issued by the ICAI, the Company has accounted for Deferred income tax during the year. The deferred income tax provision forthe current yearamounts to Rs. 4,12,376/-towards deferred income tax asset (Previous Year: Rs. 4,50,813/-).

5. The Bank Guarantee of Rs. 168.52 Lakhs (Previous Year Rs. 235.94 Lakhs) has been given towards the Performance of product and towards the security given to parties.

6. The Company has been Registered with BIFR as a Sick Industries and one time Settlement with Bank and Financial Institute has since been made.

7. The Company has availed total amount of Rs. 5,67,07,740/- towards the Sales Tax deferment, which has been sanctioned to the company.

8. Previous yearfigures have been regrouped wherever necessary.

9. The figures have been rounded off to the nearest rupee.