aaswa trading and exports ltd....aaswa trading and exports ltd.regd. office : 32, milanpark society,...

AASWA TRADING AND EXPORTS LTD.REGD. OFFICE : 32, MILANPARK SOCIETY, NR. JAWAHAR CHOWK, MANINACAR" AHMEDABAD_380 OO8

CIN : Ls l 100GJ 1984PLC024704 E-MAIL: PHONE NO. I O19-2aA62907

To,BSE LimitedCorporate Relationship Department,z5thFloor,PJTowers,Dalal Street, Fort,Mumbai - 400001sEcuR|TY coDE NO. 512038

To,Ahmedabad Stock Exchange Limited,Kamdhenu Complex, Opp. SahaianandCollege, Paniarapole,AhmedabadGuiarat-380015SECURITY CODE NO. O1O7O

3'd October, 2018

Dear Sir/ Madam,

Sub: Annual Report of 33'd Annual General Meeting ('AGM') under Regutation 34of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015

This is to inform you that the 33d Annual General Meeting of the Shareholders of theCompany was held on Thursday. 27th September. 2018 at the Registered Office of theCompany at I I :00 AM.

In this regard, please find enclosed herewith the Annual Report of 33'd Annual GeneralMeeting for the Financial Year 2017-18 as required under Regulation 34 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 duly approved andadopted by the members as per the provisions ofthe Companies Act,20l3.

This is for your information and records.

Thanking You,Yours Faithfully,

FOR AASWA TRADING AND EXPORTS LIMITED

NARESHKUMAR PRAIAPATICOMPANY SECRETARY

ENCL: AS STATED

Page I of I

AASWA TRADING AND EXPORTS LIMITED(C! N : L5 1 100GJ 1984P1 C0247 04I.

33RD

ANNUAL REPORT

20L7-L8

)

CORPORATE INFORMATION

BOARD OF DIRECTORS

Mr. Anish A. Shah - Managing Director

Ms. Aashini A. Shah -Non-executive Director

Mr. KeyurJ. Parikh -lndependent Director

Mr. Bhavesh G. Shah -tndependent Director (w.e.f . L2.Og.2Ol7l

Mr. Mayur J. Parikh - tndependent Director (Upto 11.09.2017)

CHIEF FINANCIAT OFFICER

Mr. Nitin L. Bh avsar

COMPANY SECRETARY

Mr. Nareshkumar J. Prajapati

REGISTERED OFFICE

32, Milan Park Society,

Nr. Jawahar Chowk, Maninagar,

Ahmedabad - 380 008

REGISTRARS AND SHARE TRANSFER AGENT

Link lntime lndia private Limited

506-508,Amarnath Business Centre-1

(ABC-1), Besides Gala Business Centre

Near XT Xavier's College Corner

Off CG Road , Ellisebridge

Ahmedabad - 380 006

STATUTORY AUDITORS

M/s Mukesh M. Shah & Co.

Chartered Accou ntants

Ahmedabad

BANKERS

Kotak Mahindra Ban k Limited

Bank of lndia

SHARES LISTED ON STOCK EXCHANGES

Ahmedabad StockExchangeBSE Ltd.

Aaswa Trading and Exports LimitedAnnual Report 2017 -lB

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Aaswa Trading and Exports LimitedAnnual Report 2017-18

NOTICE

Notice is hereby given that the 33'd Annual General Meeting of the Aaswa Trading and ExportsLimited will be held on Thursday, September 27,2OL8 at 11:00 a.m. at the Registered Office of theCompany at 32, Milanpark Society, Nr. Jawahar Chowk, Maninagar, Ahmedabad - 380 008, totransact the following businesses:-

ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Financial Statements of the Company for thefinancial year ended March 31, 2018 and the Reports of the Board of Directors and theAud itors thereon.

2. To appoint Mrs. Aashini A. Shah - Non lndependent and Non Executive Director(DlN: 06935369), who retires by rotation and being eliBible, offers herselffor re-appointment.

3. Modification to the resolution related to appointment of Statutory Auditors

To consider and ifthought fit, to pass the following resolution as an Ordinary Resolution:

"RESOIVED THAT pursuant to the amendment to the Section 139 of the Companies Act, 2013,effective from 7th May, 2018, the consent of the members of the Company be and is herebyaccorded to delete the requirement, seeking ratification of appointment of Statutory Auditors(M/s. Mukesh M. Shah & Co., Chartered Accountants, Ahmedabad) at every Annual GeneralMeeting, from the resolution passed by the Shareholders at the 32nd Annual General Meetingheld on 28th September, 2017."

By order of the Board of DirectorsFor Aaswa Tradint and Exports timited

Date: May29,20L8Place: AhmedabadRegd. Office:32, Milan Park Society,Nr. Jawahar Chowk, Maninagar,Ahmedabad - 380 008NOTES:

Notes:

Nareshkumar PrajapatiCompany Secretary

1. A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED TO APPOINT A PROXY TO ATTENDAND VOTE ON HIS / HER BEHALF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.A person can act as a proxy on behalf of not more than fifty (50) members and holding inaggretate not more than 10% of the total share capital of the company. Members holdingmore than 10% ofthe total share capital ofthe Company may appoint a single person as proxy,who shall not act as a proxy for any other member. The instrument of proxy, in order to beeffective, should be deposited at the registered office of the company, duly completed andsigned, not later than 48 hours before the commencement of the meeting. A proxy form is

annexed to th is report.

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Aaswa Trading and Exports LimitedAnnual Report 2017 -18

2. Corporate Members intending to send their authorized representatives to attend the AnnualGeneral Meeting, pursuant to Sectionll3 ofthe Companies Act, 2013, are requested to send tothe Company, a certified copy of the relevant Board Resolution together with the respectivespecimen si8natures of those representative(s) authorized under the said resolution to attendand vote on their behalf at the meeting.

3. Since there is no Special Business, an Explanatory Statement pursuant to section 102 of theCompanies Act, 2013 is not required. ln respect of resolution at ltem No. 2 a statement givingadditional information on the Directors seeking re-appointment is annexed herewith asrequired under Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015.

4. All documents referred to in the accompanying Notice and the Explanatory Statement shall beopen for inspection at the Registered Office of the Company during normal business hours(11.00 am to 12.00 pm) on all working days except Saturdays, up to and including the date ofthe Annual General Meeting (AGM) of the Company.

5. The Register of Members and Share Transfer Books of the Company will remain closed fromFriday, 2lstSeptember, 2018 to Thursday 27th September, 2018 (both days inclusive).

6. All lnvestor related complaints or queries be addressed to [email protected] or at theregistered office address of the Company.

7. Members holding shares in physical form are requested to intimate any change of address and/ or bank mandate to Link lntime lndia Pvt. Ltd or Secretarial Department of the Companyimmediately. ln case shares held in dematerialized form, the information regarding change ofaddress and bank particulars should be given to their respective Depository Participant.

8. Electronic copy of the Annual Report for the year 20L7 -L8 is being sent to all the memberswhose email lDs are registered with the company/depository participant(s) for communicationpurpose unless any member has requested for hard copy ofthe same. For members who havenot registered their email address, physical copies of the Annual Report for the year 2017-18 is

being sent in the permitted mode.

9. Process and manner for voting through Electronic means -i. ln compliance with provisions of Sectionl08 of the Companies Act, 2013 and Rule 20 of the

Companies (Management and Administration) Rules, 2014 and Regulation (1)&(2) of SEBt(Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company ispleased to offer the facility of voting through electronic means and the business set out inthe Notice above may be transacted through such electronic voting. The facility of votingthrough electronic means is provided through the e-voting platform of Central DepositoryServices (lndia) Limited ("remote e-voting").

ii. The remote e-voting will commence on Monday, september 24,2o].g at 9.00 a.m. and willend on Wednesday, September 26,2Ot8 at 5.OO p.m. During this period, the Members ofthe company, holding shares either in physical form or in dematerialized form, as on thecut-off date (record date) i.e. Thursday, September 20, 2OLg, may cast their voteelectronically. The e-voting module shall be disabled by CDSL for voting thereafter. Oncethe vote on the resolution is cast by the Member, he/she shall not be allowed to change itsubsequently or cast vote again.

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iii. The facility for voting through Poll Paper would be made available at the AGM and themembers attending the meeting who have not already cast their votes by remote e-votingshall be able to exercise their right at the meeting through Poll Paper. The members whohave already cast their vote by remote e-voting prior to the meeting, may also attend themeeting, but shall not be entitled to cast their vote again.

iv. Members whose names are recorded in the Register of Members or in the Register ofBeneficial Owners maintained by the Depositories as on the Cut-off date i.e. Thursday,September 20, 2O\8, shall be entitled to avail the facility of remote e-voting as well as

voting at the AGM. Any recipient of the Notice, who has no voting rights as on the Cut-offdate, shall treat this Notice as intimation only.

v. A person who has acquired the shares and has become a member of the Company after thedispatch of the Notice of the AGM and prior to the Cut-off date i.e. Thursday, September20,2018, shall be entitled to exercise his/her vote either electronically i.e. remote e-votingor through the Poll Paper at the AGM by following the procedure mentioned in this part.

vi. The voting rights of the shareholders shall be in proportion to their shares of the paid-upequity share capital of the Company as on the cut-off date i.e. Thursday, September 20,2018.

vii. M/s. A. Shah & Associates, Practising Company Secretaries (C. P. No. 6560) has beenappointed as the Scrutinizer for conducting remote e-voting process in a fair andtransparent manner and also voting by Poll Paper at the AGM

viii. The procedure and instructions for remote e-voting are as under:-Remote E-Voting Process - Shareholders holding shares in Demat Form and Physical Form

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Step 1 Open your web browser during the voting period and log on to the e-votingwebsite: www.evotin india.com

Step 2 Click on "Shareholders" to cast your vote(s)Step 3 Please enter your USER lD -

. For account holders in CDSL: Your 16 digits beneficiary lD.

. For account holders in NSDL: Your 8 characters DP lD and followed by 8digits Client lD.

o Members holding shares in physical form should enter folio numberregistered with the company.

Step 4 Please enter the lmage verification as displayed and Click on Login.lf you are holding shares in demat form and had logged on towww.evotinAindia.com and voted on an earlier voting of any company,then your existin assword is to be used.

Step 5 rf u are a first time user follow the steps given below:PAN Enter your 10 digit alpha-numeric PAN issued by lncome Tax Department

(Applicable for both demat shareholders as well as physicalshareholders).

Members who have not updated their PAN with the company/depositoryparticipant are requested to use the sequence number which is printedon Attendance Slip/Address Slip, in the PAN fieldln case the sequence number is less than 8 digits enter the applicablenumber of 0's before the number after the first two characters of thename in CAPITAL letters. Eg. lf your name is Ramesh Kumar withsequence number l then enter RA00000001 in the PAN field.

a

a

a

Enter the Date of Birth as recorded in your demat account or in theCompany records for the said demat account or folio in ddlmm/VyWformat.

Date ofBirth(DoB)

orDividendBank

Details

Enter the dividend bank details as recorded in your demat account or theCompany records for the said demat account or folio.

Please enter the DOB or Dividend bank details in order to login. lf DOB orBank details are not recorded with the depository or Company please enterthe Member lD / Folio No. in the Dividend bank details field as mentionedin ste 3

Step 6 After entering these details appropriatel , click on "SUBMIT" tab.Step 7 Members holding shares in physical form will then reach directly to the

Company selection screen.

Members holding shares in Demat form will reach 'Password Creation'menu wherein, they are required to create their login password in the newpassword field. Kindly note that this password can be also be used bytheDemat holders for voting for resolutions of any other Company on whichthey are eligible to vote, provided that Company opts for e-voting throughCDSL platform. lt is strongly recommended not to share your password withany other person and take utmost care to keep your password confidential.

lf Demat account holder has forgotten the changed password then Enterthe User lD and the image verification code and click on Forgot Password &enter the details as prompted b the s stem.

Step 8 For Members holding shares in physical form, the details can be used onlyfor remote e-voting on the resolutions contained in this Notice.

Step 9 Click on the EVSN of the Compan i.e. 180818019 to voteStep 10 On the voting page, you will see "RESOLUTION DESCRIPTION" and against

the same the option "YES/NO" for voting. Select the option YES or NO andclick on SUBMIT. The option "YES" implies that you assent to the resolutionand Option "NO", implies that you dissent to the Resolution. Enter thenumber of shares (which represents number of votes) under "Yes/No" oralternatively you may partially enter any number in "Yes" and partially"No", but the total number in "Yes" and "No" taken together should notexceed ur total shareholding.

Step 11 Click on the "RESOLUTIONS FILE LINK" if you wish to view the Notice orResolution Details.

Step 12 After selecting the resolution you have decided to vote on, click on"SUBMlT". A confirmation box will be displayed. tf you wish to confirm yourvote, click on "OK", else to change your vote, click on "CANCEL" andaccordin ly modify your vote.

Step 13 Once you "CONFIRM" your vote on the resolution, you will not be allowedto modify your vote. You can also take out print of the voting done by you

nt" option on the voting page.by clickin on "Click here to nStep 14 Shareholders can also cast their vote using CDSL's mobile app',m-Voting,,

available for Apple, Android and windows based mobile. The m-Voting appcan be downloaded from Google Play Store.. please follow the instructions

app while voting on your mobile.as prom d by the mobile


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Step 15 Note for Non lndividual Shareholders and Custodians:-o Non-lndividual shareholders (i.e. other than lndividuals, HUF, NRI

etc.) are required to log on to https://www.evotingindia.com andregister themselves as Corporates.

o A scanned copy ofthe Registration Form bearing the stamp and signof the entity should be emailed to helDdesk.evotin @cdslindia.com.After receiving the login details, a compliance user should be createdusing the admin login and password. The compliance user would beable to link the account(s) which they wish to vote on.The list of accounts should be mailed to

a

a

a

helpdesk.evotin @cdslindia.com and on approval of the accountsthey would be able to cast their vote.A scanned copy of the Board Resolution and Power of Attorney (POA)

which they have issued in favour of the Custodian, if any, should beuploaded in PDF format in the system for the Scrutinizer to verify thesame

ix) The results declared along with the Scrutinizer's Report shall be placed on the Company'swebsite www.aaswatrading.in and on the website of CDSL i.e www.cdslin dia.com withinthree days after the conclusion of 33'd AGM and shall also be communicated to StockExchanges where the shares of the Company are listed.

x) ln case you have any queries or issues regarding e-voting, you may refer the FrequentlyAsked Questions ("FAas") and e-voting manual available at www.evotingindia.com, underhelp Section or write an email to [email protected].

Contact Details:

Company Aaswa Trading and Exports LimitedRegd. Office: 32, Milanpark Society, Nr. Jawahar Chowk,Maninagar, Ahmedabad-380 008.

Registrar & Share

Transfer AgentLink lntime lndia Pvt. Ltd

5th floor, 506 to 508, Amarnath Business Centre -(ABC-1) Beside Gala Business Centre,Near St. Xavier's College Corner, Off C G Road, NavarangpuraAhmedabad - 380009Tel No. +91 7926465L79 186 187Email ld: ahmedabad @ lin kintim e.co. in;Website : www.linkintime.co. in

E-Voting Agency Central Depository Services (lndia) Ltd.E-mail hel esk, I cdslindia.comScrutin izer M/s. A. Shah & Associates , Practising Company SecretaEmail [email protected]

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Annexure to the Notice dated May 29, 2018

Details of Directors seeking Appointment /Re-appointment at the 33'd Annual General Meeting to beheld on 27th September, 2018 (Pursuant to Regulation 36 (3) of SEBI (Listing Obligations andDisclosu re Requirements) Regulations, 2015]

Item no. 2

Name of Director Mrs. Aashin A. Shah

Date of Birth 3t/72/t96sDate of Appointment on the Board 31't July, 2014

Qualifications G rad uateExpertise in Specific Functional Areas Finance and AccountsDirectorship held in Other Companies Amani Trading & Exports Ltd

Chairmanship/Membership of Committees Member: Nomination and Remuneration CommitteeShareholding of Director 200 Equity SharesRelationship between Directors inter-se Related to Mr. Anish A. Shah, Managing Director of

the Company.

By order of the Board of DirectorsFor Aaswa Trading and Exports Limited

Date: May 29,2OLBPlace: AhmedabadRegd. Office:32, Milan Park Society,Nr. Jawahar Chowk, Maninagar,Ahmedabad - 380 008

Nareshkumar PrajapatiCompany Secretary

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BOARD'S REPORT

1. FINANCIAL RESULTS

2. DIVIDEND

Your Directors do not recommend any dividend on the equity shares.

3. RESERVES

Aaswa Trading and Exports LimitedAnnual Report 2017-lg

(Amount in Lacs)

SlPage

Your Directors take preasure.in presenting their Thirty Third Annuar Report of your companytogether with audited financiar statementsfortheyearendedon3lstrrr"r.i,lors.'-''

No amount has been transferred to any reserve.

4. REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS

Your company has reported a ross of Rs. 0.34 Lacs as compared to profit of Rs. 0.g2 Lacs inprevious year' The company has continued its activity of trading in cotton fabrics. your directorsare putting in their best efforts to improve the performance of the company in the coming years.s. tND|AN ACCOUNTTNG STANOARDS (tND AS)

lndian Accounting standards (r.ND tsl have become appricabre to your company with effect from1't April, 2017 pursuant to Rule 4.(1) liiit trt oii".pJ"ies lrnaian Accounting Standards) Rules,2015' Accordingly, your company has prepared rinancial statements for the year ended on 3lsrMarch, 2018 in accordance with rND ns, prescriueJ uni"i'r"aion 133 0fthe companies Act, 2013read with rerevant rures issued there under .nain" oii",. recognized accounting practices andpolicies to the extent applicable.

6. SHARE CAPITAT

At present the Authorized Shcapital stands at Rs.72 Lacs.ended 31st March, 2018.

are Capital of the Company stands at Rs. 75 Lacs and the paid upThere has been no change in the share *pi;il;;;;s;he period

Profit before lnterest, Depreciation and Taxation

lnterest

Depreciation

Profit / (toss) before Tax

(0.2s)

0.00

0.05

(0.34)

1.08

0.00

0.06

t.o2Provision for Taxation

Current Tax0.00 0.20

Deferred Tax0.00 0.00

Profit / (toss) after Tax(0.34) 0.82

F .Y . 2077 -L8 F .Y . 2076_L7Particulars

8

Aaswa Trading and f,xports LimitedAnnual Report 2017-18

7, DEPOSITS

The Company has not accepted any deposits from Shareholders and Public falling within the ambitof Section 73 of the Companies Act, 2013 and rules made there under. There were no deposits,which were claimed and remained unpaid by the Company as on 31't March, 2018.

MATERIAT CHANGES AND COMMITMENT, IF ANY, AFFECTING THE FINANCIAT POSITION

OF OUR COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAT YEAR TO WHICHTHIS FINANCIAL STATEMENTS REI.ATE AND THE DATE OF THE REPORT

There are no material changes and commitments which affect the financial position of thecompany occurring between the end of financial year and the date of this Report, except as statedspecifically in this Report.

9. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

Your Company does not have any subsidiary, joint venture or associate company for the yearended on 31't March, 2018.

10. CONSERVATION OF ENERGY, TECHNOTOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS

AND OUTGO

lnformation on conservation of energy, technology absorption and foreign exchange earnings andoutgo as stipulated under Section 13a(3Xm) of the Companies Act, 2013, read with Rule 8 of TheCompanies (Accounts) Rules, 2014, forms part of this Report and annexed at Ann re- 1.

11. RISK MANAGEMENT

The Company has set up a risk management framework to identify, monitor, minimize, mitigateand report and also to identify business opportunities. The executive management oversees therisk management framework and the Audit Committee evaluates internal financial controls andrisk management systems. However, the details of risk management objectives and policies madeby the Company under the said provision is given in the notes to the Financial Statements. ln theopinion of Board, there are no risk which may threaten the existence ofthe Company.

L2. CORPORATESOCIATRESPONSIBILITIESINITIATIVES

The requirements of corporate social responsibility in terms of Section 135 of the Companies Act,2013 does not apply to your company.

13. PARTICUI.ARS OF IOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OFCOMPANIES ACT, 2013

During the year, the Company has not given any loans or provided guarantee or security inconnection with a loan to other body corporate or person or made investments under theprovisions ofSection 186 ofthe Companies Act, 2013, hence the details are not provided.

L4. PARTICUTARS OF CONTRACTS OR ARRANGEMENTS MADE WITH REIATED PARTIES

The members may note that all transactions entered into by the Company with the Related Partieswere on arm's length basis and in the ordinary course of business and therefore provisions ofSection 188 of the Companies Act, 2013 are not attracted. Thus, disclosure in Form AOC-2 is notrequired. Transactions with related parties as per requirements of IND-AS are disclosed in thenotes to accounts annexed to financial statements.

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15. NOMINATION AND REMUNERATION POTICY

ANominationandRemunerationPolicyhasbeenformulatedpursuanttotheprovisionsofSection178 and other applicable provisions ofthe Companies Act' 2013 and Rules thereto stating therein

the company,s policy on no.inr,ton and remuneration of Directors, Key Managerial Personnel and

SeniorMana8ementandapprovedbytheBoardofDirectors.Thesaidpolicymaybereferredto,atthe Company's website at htto://www'aaswatrading'in

Aaswa Trading and ExPorts LimitedAnnual RePort 20f7-f8

ATTENDANCE THEREOF.

During the year, 4 (four) meetings of

Companies Act, 2013 and SEBI (Listing

viz; 20th MaY, 2O!7, 12th August, 2017

* Resigned w.e.f. 11 August,2017

# Appointed w.e.f. 12th August, 2017

During the year, You r Company has complied with applicable Secretarial Standards issued by the

lnstitute of ComPanY Secretaries of lndia (lCSl)

16. ANNUAL EVATUATION OF BOARD,S PERFORMANCE

PursuanttotherequirementsoftheCompaniesAct'2013andSEBl(ListingObligationsandDisclosureRequirements)Regulations,2015andinaccordancewiththepolicylaiddownbytheNomination and Remunerati-on Committee (NRC)' as approved by the Board of Directors' the

Board has carried out an annrrl evaluation of its performance, its committees and all individual

Directors.

lnaseparatemeetinSoflndependentDirectors'performanceofNonlndependentDirectors'performanceoftheBoardr,.*nof"andperformanceoftheManagingDirectorwasevaluated'

!7. ANNUALRETURN

ThedetailsformingpartoftheextractoftheAnnualReturninFormMGT-g,asrequiredunderSection 92 ofthe Companies Act, 2013, is included in this Report as Annexure-2'

18. WEBSITE OF YOUR COMPANY

Yourcompanymaintainsawebsitewww.aaswatrading'inwheredetailedinformationoftheCompanyandspecifieddetailsintermsofthecompaniesAct,2013andsEBl(Listin8obligations&Disclosure Requirements) Regulations, 2015 have been provided'

Ig.NUMBERoFBoARDMEETINGScoNDucTEDDURINGTHEYEARUNDERREVIEWAND

the Board of Directors were held, as required under the

Obligations & Disclosure Requirements) Regulations' 2015'

,14th November,2017 and 12th February,2018'

20. DETAILSOFKEYMANAGERIALPERSONNEL

DurinB the year, Mr. Bhavesh G. Shah was appointed as an lndependent Director on the Board

w.e.f.AugustL2,zoLTandMr.MayurJ.Parikhresignedw.e.f.AugustL]-,2o]-TasanlndependentDirector of the ComPanY.

Further,inaccordancewiththeArticlesofAssociationandtherelevantprovisionsoftheCompanies Act, 2013, Mrs. Aashini A. Shah retires by rotation and being eligible seeks re-

appointment.

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Number of Board Meetin the financial Yeadurin r2017 -18

AttendedHeldName of DirectorSr.

No.44Mr. Keyur Parikh114Mr. Mayur Parikh*234Mr. Bhavesh G. Shah#344Mr. Anish A. Shah444Mrs. Aashini Shah5


ln accordance with Section 203 of the Companies Act, 2013, the Company have Mr. Anish A. Shahwho is acting as Managing Director of the Company, Mr. Nitin Bhavsar who is acting as ChiefFinancial Officer of the Company and Mr. Nareshkumar J. Prajapati as Company Secretary of theCompany.

21,. DIRECTORS'RESPONSIBITITYSTATEMENT

To the best of our knowledge and belief and according to the information and explanationsobtained by us, your Directors make the following statements in terms of Section 134(3) (c) and134 (5) of the Act, that:

(a) in the preparation of the annual accounts, the applicable accounting standards had beenfollowed along with proper explanation relating to material departures;

(b) the directors had selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair view ofthe state of affairs of the company at the end of the financial year and of the loss of thecompany for that period;

(c) the directors had taken proper and sufficient care for the maintenance of adequate accountingrecords in accordance with the provisions of this Act for safeguarding the assets of thecompany and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual accounts on a going concern basis; and

(e) the directors had laid down internal financial controls to be followed by the company and thatsuch internal financial controls are adequate and were operating effectively;

(f) the directors had devised proper system to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively

22, DECTARATION OF INDEPENDENT DIRECTORS

All the lndependent Directors have given their declaration to the Company stating theirindependence pursuant to section 149(6) and SEB| (Listing obligations & DisclosureRequirements), Regulations, 2015. The terms and conditions of the appointment of lndependentDirectors have been disclosed on the website of the Company at www.aaswatrading.in

23. PARTICUI.ARS OF EMPIOYEES

(i) The ratio of the remuneration of each director to the median employee's remuneration andother details in terms of sub-section 12 of Section 197 of the Companies Act, 2013 read withRule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,2074, are forming part of this report and is annexed as Annexure - 3 to this Report.

(ii) The statement containing particulars of employees as required under Section 197(12) of thecompanies Act, 2013 read with Rule 5(2) and Rule 5 (3) of the companies (Appointment andRemuneration of Managerial Personnel) Rules, 2014, forms part of this report. However, thesaid statement is not being sent along with this Annual Report to the members in line with theprovisions of Section 136 of the Companies Act, 2013. The same is open for inspection at theRegistered Office of the Company. Copies of this statement may be obtained by the membersby writing to the Company Secretary.

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24, AUDITORS

(a} STATUTORYAUDITORS

M/s. Mukesh M. Shah & Co., Chartered Accountants, Ahmedabad (Firm Registration No. 106625W)were appointed as Statutory Aud itors of the Com pany at the 32nd Annual General Meetingheldon28th September, 2OL7, for a term of five (5) consecutive financial years i.e. commencing from Fy

2077 -18, subiect to their appointment being ratified by the shareholders in every AGM.

The Companies Amendment Act,2077 has with effect from 7th May, 2018 omitted the requirementof ratification of appointment of Statutory Auditors at every intervening Annual General Meetingand accordingly the same is not required to be placed before the Members at the Annual GeneralMeeting. Pursuant to the amendment, the Board recommends to the shareholders for theirapproval that the requirement of seeking ratification of appointment of Statutory Auditors at everyAnnual General Meeting (referred to in the resolution passed at the 32nd Annual General Meetingheld on 28th September, 2OLll, be deleted.

The Auditors' Report for FY 2Ol-1-78 forms part of this Annual Report and does not contain anyqualification, reservation or adverse remark.

(b) SEcRETARtAL AUDTTORS

Pursuant to provisions of Section 2O4 rcad with Rule 9 of the Companies (Appointment andRemuneration of Managerial Personnel) Rules,2014 the Company has appointed M/s. A. Shah &Associates, Practicing Company Secretary, Ahmedabad (Certificate of Practice No. 6560) toundertake the Secretarial Audit of the Company for the financial year ended 3L't March, 2018. TheSecretarial Audit Report is annexed herewith as Annexure-4The Secretarial Audit Report for the year ended on 31st March, 2018 does not contain anyqualifications, reservations or adverse remarks.

25. REPORTING OF FRAUD BYAUDITORS

There have been no instances of fraud reported by the Auditors uls M3 (72) of the Companies Act,2013 and rules framed thereunder either to the company or to the Central Government.

26. DISCTOSURE OF COMPOSITION OF BOARD, COMMITTEE AND VIGIT MECHANISM

CONSTITUTION OF BOARD

As on the date of this report following is the composition of Board.

The composition of Board complies with the requirements of the Companies Act, 2013. Further, inpursuance of Regulation 75(21 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 20L5 ("Listing Regulations"), the company is exempted from requirement of havingcomposition of Board as per Listing Regulations.

None of the Directors of Board is a member of more than ten Committees or Chairman of morethan five committees across all the Public companies in which they are Director. The necessarydisclosures regarding Committee positions have been made by all the Directors.

12 lPage

Sr

No.Name of the Director Designation

1 Mr. Anish A. Shah Managing Director2 Mrs. Aashini A. Shah Non Executive-Non lnde endent Director3 Mr. Bhavesh G. Shah Non Executive -lndependent Director4 Mr. Ke ur J. Parikh Non Executive -lndependent Director


(a) COMMITTEES OF BOARD

Your Company has constituted several Committees in compliance with the requirements of therelevant provisions of applicable laws and statutes, details of which are given hereunder.

1. AUDIT COMMITTEE

Audit Committee meeting is generally held once in quarter for the purpose of recommending thequarterly/half yearly/ yearly financial results and the gap between two meetings did not exceedone hundred and twenty days. The Audit Committee met four times during the financial year 2017-18viz;20th May,2077,12th August, 2077, L4th November, 2OI7, and 12th February 2018.

The composition of the Committee and the details of meetings attended by its members are givenbelow:

Sr.

No.Name of Director

Number of meetings during the financial yeat 2OI7 -LB

Held Attended7 Mr. Keyur Parikh 4 4

2 Mr. Mayur Pa rikh * 4 I3 Mr. Bhavesh G. Shah# 4 3

4 Mr. Anish A. Shah 4 4

*Resigned w.e.f. 11th Augu sl,201-7# Appointed w.e.f. 12th Augu sl,2O!7Further, the Audit committee Comprises of the following directors as on the date of the BoardReport.

Mr. Keyur Parikh, the Chairman of the Committee had attended last Annual General Meeting ofthe Company held on 28th September,2017Further, Mr. Nareshkumar Prajapati, Company Secretary is acting as a secretary ofthe committee.Recommendations of Audit Committee, wherever and whenever given, have been accepted by theBoard.

(b) Vigil Mechanism

The Company has established a vigil mechanism and accordingly framed a Whistle Blower Policy.The policy enables the employees to report to the management instances of unethical behavior,actual or suspected fraud or violation of Company's Code of Conduct. Further the mechanismadopted by the Company encourages the Whistle Blower to report genuine concerns or grievancesand provide for adequate safe guards against victimization of the Whistle Blower who avails ofsuch mechanism and also provides for direct access to the Chairman of the Audit Committee, inexceptional cases. The functioning of vigil mechanism is reviewed by the Audit Committee fromtime to time. None of the Whistle blowers has been denied access to the Audit Committee of theBoard. The Whistle Blower Policy of the Company is available on the website of the Company atwww.aaswatrad inR. in

13 lPage

Sr. No. Name of Director Category Designationt Mr. Keyur j. Parikh Non-Executive lndependent

DirectorChairman

2 Mr. Bhavesh G. Shah Non-Executive lndependentDirector

Member

3 Mr. Anish A. Shah Executive Non-lndependentDirector

Mem ber


2. Nomination and Remuneration Committee

The Company has formed Nomination and Remuneration committee in line with the provisionsSection 178 of the Companies Act, 2013. Nomination and Remuneration Committee meetings aregenerally held for identifying the person who is qualified to become Directors and may beappointed in senior management and recommending their appointments and removal. During theyear under review, three meetings were held on 20th May, ZOL7, l2th August, 2017 and 12thFebruary, 2018 inter alia, to recommend the appointment of Director and KMp's and to review theperformance of Directors of the Company.

The composition of the Committee and the details of meetings attended by its members are givenbelow:

* Resigned w.e.f. 11 August,2017# Appointed w.e.f. 12th August, 2017

Further, the Nomination and Remuneration committee Comprises of the following directors as onthe date of the Board Report.

27. SIGNIFICANT AND MATERIAT ORDERS PASSEO BY REGUTATORS OR COURTS OR TRIBUNAISIMPACTING THE GOING CONCERN STATUS OF THE COMPANY.

There has been no significant and material order passed by the regulators or courts or tribunalsimpacting the goinB concern status and Company's operations. All orders received by the Companyduring the year are of routine in nature which have no significant / material impact.

28. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY.

Your Company has laid down the set of standards, processes and structure which enables it toimplement internal financial control across the organisation and ensure that the same areadequate and operating effectively. To maintain the objectivity and independence of internalaudit, the lnternalAuditor reports to the chairman of the Audit committee of the Board.

The lnternal Auditor monitors and evaluates the efficacy and adequacy of internal control systemsin the Company, its compliance with the operating systems, accounting procedures and policies ofthe Company. Based on the report of lnternal Auditor, the process owners undertake thecorrective action in their respective areas and thereby strengthen the control. Significant auditobservation and corrective actions thereon are presented to the Audit Committee of the Board.

29. TISTING WITH STOCK EXCHANGES

Your company is listed with the BSE Limited and Ahmedabad stock Exchange. and the companyhas paid the listing fees to each of the Exchanges.

14 lPage

Sr.

No.Name of Director

Number of meetings during the financial year 2017 -18Held Attended

1 Mr. Mayur Parikh + 3 12 Mr. Bhavesh Shah# 3 23 Mr. Keyur Parikh 3 34 Mrs. Aashini A. Shah 3 3

Sr, No, Name of Director Catetory Desitnation1 Mr. Bhavesh G. Shah Non-Executive lndependent Director Chairman2 Mr. Keyur Parikh Non-Executive lndependent Director Mem ber3 Mrs. Aashini A. Shah Non-Executive Non-lndependent

DirectorMember


30. CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION AND ANATYSIS REPORT

Regulation 17 to 27 and Clause (b) to (i) of sub-regulation (2) of Regulation 46 and Para C, D, and E

of Schedule V of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 does notapply to your Company and hence provisions relating to report on corporate governance are notapplicable. The Management Discussion and Analysis Report forms part of this Report and areannexure as Annexure -5 to this Report.

31. GENERAT DISCTOSURE

Your Directors state that the Company has made disclosures in this report for the items prescribedin section 134 (3) of the Act and Rule 8 of The Companies (Accounts) Rules, 2014 and otherapplicable provisions of the act and listing regulations, to the extent the transactions took placeon those items during the year. Your Directors further state that no disclosure or reporting is

required in respect of the following items as there were no 'transactions occur on these itemsduring the year under review;

(i) Details relating to deposits covered under Chapter V of the AcU

(ii) lssue of Equity Shares with differential rights as to dividend, voting or otherwise;

(iii) lssue of shares (including sweat equity shares) to employees of the Company under anyscheme save and ESOS;

(iv) Annual Report and other compliances on Corporate Social Responsibility;

(v) There is no revision in the Board Report or Financial Statemen!

(vi) No significant or material orders were passed by the Regulators or Courts or Tribunals whichimpact the going concern status and Company's operations in future;

(vii) lnformation on subsidiary, associate and joint venture companies.

32. DTSCTOSURE AS PER SEXUAT HARASSMENT OF WOMEN AT WORKPLACE (PREVENT|ON,

PROHTBTTTON AND REDRESSAT) ACr, 2013Your Directors state that during the year under review, there were no cases filed pursuant toSexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

33. APPRECIATION

Your Directors express their gratitude for the dedicated services put in by all the employees of theCompany.

34. ACKNOWLEDGEMENTS

Your Directors places on record their sincere thanks to the customers, vendors, investors, banksand financial institutions for the continued support. Your Directors are also thankful to theGovernment of lndia, State Government and other authorities for their support and solicit similarsupport and guidance in future.

FOR, AASWA TRADING AND EXPORTS TIMITED

e/.4*Date: May 29, 20tBPlace: Ahmedabad

KEYUR J. PARIKH

CHAIRMAN AND DIRECTOR

DIN:00156455

BH ESH G HAHDIRECTOR

DIN:02333042

15 lPage

r),MED6. 44,

t'

G

Aaswa Trading and Exports LimitedAnnual Report 2OL7-tB

ANNEXURES TO THE BOARD'S REPORT

Annexure-1

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGEEARNING AND OUTGO.

The lnformation under Section 134 of the Companies Act, 2013 read with theCompanies (Accounts) Rules 2014 for the year ended March 31, 2018 is given herebelow and forms part of the Board's Report.

A. Conservation of EnergyThe principal business of the Company is of trading in cotton fabrics and therefore,the operations of the Company do not consume high level of energy. No capitalinvestment has been made by the Company on energy conservation equipments.

B, TechnologyAbsorptionThe Company has no activity regarding technology absorption. The Company has notincurred any expenditure on research and development activity.

C. Foreign Exchange Earning and OutgoDuring the year under review, there are no foreign exchange earnings and outgo

FOR, AASWA TRADING AND EXPORTS TIMITED

KEYUR J. PARIKH


DIN:00156455

B AVESH . SHAHDate: May 29,2OlAPlace: Ahmedabad

DIRECTOR

DIN:02333042

16 lPage

,J

*

";lo

Aaswa Trading and Exports [imitedAnnual Report 2Ol7-tB

Annexure-2

Form No. MGT - 9Extract of Annual Return

As on the financial year ended on 31st March, 201g[Pursuont to section 92(j) of the Componies Act, 2013 ond rule 72(7) of the Componies

(Monogement ond Administrotion) Rules, 2O141

I. REGISTRATION AND OTHER DETAILS

[.

fl.

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing lo o/o or more of the totar turnover ofthe company shall be stated:-

* As per National lndustrialProgramme lmplementat

Classification (N tC-2OO8Jion.

- Ministry of Statistics and

PARTlcutARs oF HoLDING, suBstDtARy AND AssocrATE coMpANrEs

lTlPage

1 ctN 151100GJ 1984P LCO247 042 Registration Date November, 19847l3 Name of the Company Aaswa Tradin and Exports Ltd4 Category / Sub-category of the

Companyic Company Limited by SharesPubl

5 Whether listed(Yes/No)

Company Yes

6 Name, Address and ContactDetails of Registrar andTransfer Agent, if any

Link lntime P!'t. Ltd.5th floor, 506 to 508, AmarnathBusiness Centre -(ABC-1) Beside Gala Business Centre,

Near St. Xavier's College Corner, Off C

G Road, NavarangpuraAhmedabad - 380009Tel No. +91 79 26465179 186 / 87

ntime.co.inEmail: ahmedabad linki

Sr.

No.Name and Descriptionof Main Product

NIC Code ofthe Product* of the Companv

Yo to total turnover

7 Trading of CottonFabrics

46477 96.37%

Sr.

No.Name andAddress of theCompany

crN / GtN Holding ISubsidiary /Associate

%ofShares

held

ApplicableSection

NIL NIL NIL NIL NIL

Eill]ait::a::::a

A. Promoters(1) lndiana) lndividual /HUF

497670 497670 69.12 497670 497670 69.1,2

b) Cent. Govt.

c) State Govt.

d) BodiesCorporate

3050 3050 o.42 3050 30s0 o.42

e) Banks / Fl

f)Any othersub-total (A)(1)

0 500720 500720 69.54 500720 500720 69.54 0.00

(2) Foreigna) NRls

lndividualsb) Otherlndividuals

c) BodiesCorporated) Banks / Fl

e)Any other(A)Sub-total

(2)0 0 0 0.00 0 0 0.00 0.00

500720 500720 69.54 500720 500720 69.54 0.000

B. Public Shareholdil) lnstitutions

Mutual

Total share-holding ofPromoter (A) =(AX1) + (AX2)

a)

Funds

b) Banks / Fl

c) Cent. Govtd) state Govt.e) VentureCapital Funds

f) lnsuranceCompaniesg) FllS

h) ForeignVenture CapitalFunds

i) Others,

Aaswa Trading and Exports LimitedAnnual Report 2OL7-18

tv. SHAREHOLDING PATTERN (EQUITY SHARE CAPITAT BREAKUP AS % OF TOTALEQUITY}

i. Catetory wise Shareholding

lSlPage

Specify0 0 0.00 0.(X,(B)sub-total

(1)0 0 0 0.00 0

(2) Non-lnstitutionsa) BodiesCorporateb)lndividualsi) lndividualshareholdersholdingnominal sharecapital uptoRs.1 Lac

183250 183250 25.45 183250 183250 25.45

ii) lndividualshareholdersholdingnominal sharecapital in excess

of Rs.1 Lac

c) others,Specify

36030 36030 5.00 36030 36030 5.00

i) ocB'sii) lndividuals(Non Residentlndividuals)

(B)sub-total(2)

0 2L92aO 2t92AO 30.46 0 219280 219280 30,46 0.00

Total Public

Shareholdlng(B

)= (Bxr) +(Bx2l

0 2L9280 219280 30.46 0 2t9280 219280 30.46 0.00

C. Shares held by Custodian for GDRs and ADRS

Grand Total(A+B+C)

o 720000 720000 r00.00 0 720000 720000 100.00 0.00

No. of Shares held at the beginning ofthe year i.e. 01.04.2017

No. of Shares held at the end of theyear i.e.31.03.2018

5r.No.

Shareholde/sName

otNo.

shares% of totalshares oftheCompany

't$ olSharesPledSed /encumbered to totalshares

No. ofShares

% of totalshares oftheCompany

% of sharesPledged Iencumbered to totalshares

%

Changein share.

holdinBduringthe year

1 Shefali ChintanParikh

432920 60.13 0.00 432920 60.13 0.00 0.00

2 Uttara ChintanParikh

60600 8.42 0.00 60600 8.42 0.00 0.00

3 Navnit C. M.Parikh &Shefali ChintanParikh

3860 0.54 0.00 3860 0.54 0.00 0.0c

4 NavinchandraKantilalMorakhia

50 0.01 0.00 50 0.01 0.00 0.00

5 Sangeeta 50 0.01 0.00 50 0.01 0.00 0.0c

Aaswa Trading and Exports LimitedAnnual R 2017-LA

ii. Shareholding of Promoters

19 lPage

SevantilalMorakhia

6 Shreyas

SevantilalMorakhia

50 0.01 0.00 50 0.01 0.00 0.00

1 ShripalSevantilalMorakhia

50 0.01 50 0.01 0.00 0.00

8 VimalSevantilalMorakhia

50 0.01 0.00 50 0.01 0.00 0.00

9 Harsh AnubhaiJaveri

10 0.00 0.00 10 0.00 0.00 0.00

10 ShripalSevantilalMorakhia

10 0.00 0.00 10 0.00 0.00 0.00

11 Swarup H

Javeri10 0.00 0.00 10 0.00 0.00 0.00

r2 UrvashiAJaveri

10 0.00 0.00 10 0.00 0.00 0.00

13 Akalu HoldingsPvt. Ltd.

2950 0.47 0.00 29sO 0.41 0.00 0.0c

74 Small ThreeCo-ordinateslnv. Pvt. Ltd.

100 0.01 0.00 100 0.01 0.00 0.00

Total 500720 69.54 0.00 500720 59.54 0.00 0.00

Aaswa Trading and Exports LimitedAnnual Report 2Ot7-18

iii. Change in Promoters' Shareholding (Please specify, ifthere is no changelThere is no change in the shareholding of the promoter Group.

iv. Shareholding Pattern of top ten shareholders (other than Directors,Promoters and Holders of GDRs and ADRs):

Sr.

No.For each of the top 10 Shareholders Shareholding at the

betinninB of the year01.04.17

Shareholdingthe end ofyear 31.03.18

atthe

No. ofshares

% of totalshares ofthecompany

No, ofshares

% of totalshares ofthecompany

1 Arun Bhogilal Mody 17950 2.49 17950 2.492 Virendra R. Sheth (Shivam Trust ) 9030 L.25 9030 1.253 Suryakant N. Patel (Suvidha Trust) 9000 1.25 9000 t.254 Lalshankar S. Sevak (Sau mya Trust) 9000 L.25 9000 L.255 Ambalal C. Mehta (Sadhana Trust ) 9000 7.25 9000 7.2s5 Rameshchandra Gokaldas Shah 7500 1.04 7500 1.047 Dhirendra Rameshchandra Shah & Teial

Dhirendra Shah5000 0.69 s000 0.69

8 Harshad Jagmohandas Shah & SunilJagmohandas Shah

5000 0.59 5000 0.59

9 Harshad Jagmohandas Shah &Dhirendra Jagmohandas Shah

5000 0.69 5000 0.69

10 lndira Rameshchandra Shah 5000 0.69 5000 0.59

20 lPage

Aaswa Trading and Exports LimitedAnnual Report z0t7-tg

v Shareholding of Directors and Key Managerial Personnel

Sr.No.

For each of theOirectors and KMP

Shareholdingbeginning of0L.o4,2017

atthe

theyear

Shareholding at the endof the year 31.03,2018

No. ofshares

% of totalshares of thecompany

No. ofshares

% of totalshares of thecompany

1 Mr. Keyur J. Parikh 200 0.13 200 0.132 Mr. Mayur J. Parikh* 200 0.133 Mr. Bhavesh G. Shah# 150 0.024 Mrs. Aashini A. Shah 200 0.13 2W 0.13

*Resigned w.e.f. 11 August,2017fl Appointed w.e.f. 12th August, 2017

V. INDEBTEDNESS

lndebtedness of the Company including interest outstanding / accrued but notdue for payment

(Rs. ln lacs)Particulars Secured Loans

excluding

deposits

UnsecuredLoans

Deposits Totallndebtedness

lndebtedness at the beginnin g of the financial yeari) Principal Amountii) lnterest due but not paid

iii) lnterest accrued but not paid

Total (i+ii+iiilChange in lndebtedness during the financial yearAdditionReductionlndebtedness at the end ofthe financial yeari) Principal Amountii) lnterest due but not paid

iii) lnterest accrued but not paid

Total (i+ii+iii)

2llPage

Aaswa Trading and Exports LimitedAnnual Report aOL7-LB

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAT PERSONNET

1. None of the Directors were in receipt of any remuneration during the year20t7-20L8.

2. Remuneration to Key Managerial Personnel, Other Than MD/Manager/WTD(Amount in Rs.)

3. PENATT|ES / PUNTSHMENT / COMPOUNDTNG OF OFFENCE (UNDER COMPAN|ESAcrl

There were no cases of penalties / punishment or compounding of offenceseither on the Company or on the Directors or officer in default under theCompanies Act.

FOR, AASWA TRADING AND EXPORTS LIMITED

e%Rl^KEYUR J. PARIKH


DIN:00155455

BHAVESH

OIRECTOR

SHAHDATE: MAY 29,20t8PI.ACE: AHMEDABAD DIN:02333042

s.N. Partlculars of Remuneration CompanySecretary

chief FinancialOfficer

Total Amount(ln Rs.)

1 Gross Salary 2,90,760 2,85,397 5,75,551(a) Salary as per the section17(1) of the lT Act, 1961(b) Value of perquisites u/s17(2) of the lT Act, 1961

2 Stock Options3 Sweat Equity4 Commission;

-Asa%ofProfit-Others, Specify

5 Others, Specify

Total 2,90,760 2,8s,397 5,75,551

22lP age

Aaswa Trading and Exports LimitedAnnual Report z0l7-Lg

Annexure-3

Details Pursuant to the provisions of Section 197 (LZl of the Companies Act, 2013 readwith Rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules, 2014.

Note: Remuneration payable for the relevant year for employee is taken intoconsideration for all above calculations. Effect of any arrears or deferred payments forearlier periods has been ignored for the calculations.

FOR, AASWA TRADING AND EXPORTS LIMITED

adA;xl^KEYUR J. PARIKH

CHAIRMAN AND DIRECTORDIN:00156455

BHAVESH

DIRECTOR

SHAHDATEr MAY 29,2078PTACE: AHMEDABAD DIN:02333042

1 Directors including Managing Director were not paid any Remunerationfor the financial year 2077 -2O78.

DTRECTORS/CFO/CS % increase in remunerationMr. Anish Shah NilMrs. Aashini Shah NilMr. Nitin Bhavsa r 4.25%

2

Mr. Nareshkumar Prajapati(Apponted w.e.f. l't October,2016)

L2.53o/o

The Percentage increase in remuneration of each Director, ChiefFinancial Officer, Chief Executive Officer, Company Secretary or Managerif an in the Financial Year 2017-2018

3 There is percentage increase in the median remuneration of employeesis (12.00) for the financial at 2077-18.

4 There were two permanent employees on the rolls of the company as on31't March 2018.

5 The average percentile increase in salaries of employees other thanmanagerial personnel is Nil and increase in salaries of managerialpersonnel during last financial year is disclosed in point no.2.

6 e remuneration is as per the Nomination and Remuneration policy ofthe com any

Th

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tt o

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23 lPage

l Annexure-4

D/{Ii,S!r iro m an I Complex, Opp.Oc6iiuii Park, Nehru NigarSalellite Roed, AHMEDABAD-3800t 5

[email protected]

AFFrcE I O79-267aO953 .

MOBiLE | +91.997.890-i231

CS ANISHa:STJB.COM, LLB

S}.IAH

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SSOCIATES:A.SHA

Year ended on 31st Marih, 2018 according to the provisions oi

fl)The Companies Act, 2013 and the Rules made rhereunder;

nd the Regulations and Bye-Laws framed the def

n

[ll) The D

24

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[Pirsuant to Sectiita 204(1) of the Canipanies Ac, 2A73 read with Rule(Appoiitment and Renuneration of Managerial Personnel)

No.9 mpciuesCo

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TRADING AND EXPORTS LIMITEDBooks,rns filed and Other Records maintaincd by the

Based on r1y. .v-3

papers, MinutesCompany and alsauthorized represmy opinion,on31$t MdCompany

tion,onF

ritra on Provided by the Company, its officers and agents andthe conduct of Secretarial Audit, I hereby report that in

sa

riduring the audit period covering the Financial Year ended

gd with the statutory provisions listed hereundel and so rhat-processes and Compliance Mechanisrh in place to the extent, in

ct to.the reporting made hereinafter:

e Books, Papers, Minute Books, Forms and Returns flled and otl:erbvM/S, AASWA TRADING AND EXPORTS LIMITEDfoT the Financial

(ll) The Securities Cbntracts IRegutation) Act, 1956 ('.SCARA) and the Rrrles ma.dethereunder;

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Companies Act and dealing withBoard d

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of India fBuyback of Secu'rities] Regulations'

ding activity no other sector spe'cified laws are

the Financial Yeaf underreview'

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is 6f.the Company is duly constituted,with,;ii.dper t,alance.of Executiveutiie D irectors and Independent Direciors. The changes in thereetors that took place during the period under review were

carried oiir in cdmplianie with the provisions of the Act.

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PROPRIETOR(C. P. N0: 6!60)(FC-S:4713)

rcp.ol6i is. .tu be rdad with our letter ol even date which is onnexed asE A" anfl fbims an integral part iJ this report.

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261 Page

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0ur Report of even

[3] We have not verified the co

Accounts of the !onipa4y..

(4) Where evei tequiied.of LawS, Rules and.B io

darle'is to be read with this letter:I

(1) Maintenahce of Seeietarial recold is the responsibilresponsibility is to express.an opinion on these Se

followed;the. aiidit practic€s and(2) We haveassurance about the correctness of the co

of the ent of the Company. Ourids based on our Secretarial Audit.

appropriate to obtain reasonablecretarial Records. The verification was

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done on test basis tocnqure that correct fathe processes and practices, we followed p

d in Secretarial Records. We believe thatsonable basjs for our opinion.

nd appropriatefless of financial records and Books of

tained the Management Representation about the complianceppening oI events etc.

ons of Corporate and. other applicable Laws, Rules, Regulations,

of rnanagement. Our e*anrination was limited to the ve.rification of

[6] The S report is neither. an assurance as !o the future viability of the company

compf tlie- i,-

any..

J:or :effeitiveness with which the management has conducted the affairs of the,g ffica-cy..., 1)i

nor o

PLACEI AH{EDAEIDLI

1l

Aaswa Trading and Exports [imitedAnnual Report 2OL7-L8

Annexure-5

MANAGEMENT DISCUSSION AND ANATYSIS

Overview:-

lndlan Economy witnessed impacts of Demonetization and GST during recent past andthe groMh is now seen recuperating to a respectable 7.5o/o in lhe aftermath of manyother policy changes mainly in infrastructure and financial sectors. This, however, is stillbelow the 13-year average. The year 2077-78 was marked with strong macro-economicfundamentals. However, the growth of gross domestic product (GDP) moderated in

20L7 -78 vis-d-vis 2OL6-t7. An important macro-economic challenge faced by the lndianeconomy relates to the declining trend in the investment and saving rates as also risingcrude prices. Nonetheless, medium-term macro outlook remains bright against thebackground of implementation of GST, recovering global economy, relatively stableprices, prediction of normal monsoon and improvement in indicators of external sector

Under the overall challenging scenario, the company has witnessed tough businessconditions and its performance has remained constrained. The company has been ableto achieve volume growth through persistent efforts in various customer segmentshowever the margins remained under pressure. Market disruptions on account of macrolevel economic measures also adversely impacted the industry and the company for a

good part of the year, leading to inventory built-up, liquidity crunch as well as pricinguncertainties.

Segment Analysis and PerformancerThe Company operated only in one segment, Trading of Fabrics. During the year underreview, the company has made Loss of Rupees Thirty Four Thousand in the current yearas compared to approximate Profit of Rupees Eighty Two Thousand in the previous year.

Research and DevelopmentrCompany recognizes the importance of research and development across all importantareas and continues to maintain and update its functional facilities, in spite of itsfinancial position, in order to meet the changing product requirements of the customers,achieve cost efficiencies and meet compliance requirements of statutory aBencies.

Opportunities, Threats and Risks:

Availability of good quality fabrics at competitive prices is of major concern for thecompany going forward. The prices continue to go through high volatility and therebymaking it difficult to enter into long term contracts with customers. The volatility facedon the foreign exchange market is also very pivotal as far as exports business of thecompany is concerned.

Human Resources Development and Health & Safety:-The Company follows proper policies and practices for the welfare of its employees andtakes adequate measures for attracting and retaining the right talent.

The Company does not operate in any manner in which it violates any laws. Moreover,the employees of the Company are being provided better work environment.

28 lPage

Aaswa Trading and Exports [imitedAnnual Report 2Ol7-18

lnternal Financial Control:-There are adequate internal control system existing in the company across all the areas

of operations and processes. This ensures efficiency of operations, compliance withinternal policies and applicable laws and regulations, protection of resources and/orassets and accurate reporting of financial transactions. The audit committee reviews theadequacy and effectiveness of the internal control systems and improvements are

carried out to strengthen them.

Cautionary Statement:-Statements in the Management Discussion and Analysis Report containing the

objectives, expectations or predictions of the company may be forward-looking withinthe meaning of securities laws and regulations. Actual results may differ materially from

those expressed in the statement. The operations of the Company could be influenced

by various factors such as domestic and global demand and supply conditions affecting

sales volumes and setling prices of finished goods, input availability and cost,

government regulations, tax laws, economic developments within the country and otherfactors such as litigation and industrial relations.

FOR, AASWATRADING AND EXPORTS LIMITED

KEYUR J. PARIKH


DIN:00156455 DIN:02333042

BHAVESH G

DIRECTOR

SHAH

DATE: MAY 29,2018PIACE: AHMEDABAD

29 lP age

' 7th Floor, Horitage Chamb€rsB/h: Bikanerwala, Off S.M. Road,

. Nr. Azad Society, Nehru Nag6r, Ahm€dabaG38o 015.Phone : (B) 079 - 2847 2000 E mail : contademmsco.inWebsile : ww/v.mmsco. in

I CHARTEREO ACCOUNTANTSAHMEOABAD. MUMBAI. BANGALORE

INDEPENDENT AUOITORS' REPORT

TO THE MEMBERS OF AASWA TRADING AND EXPORTS UMITED

Report on the Flnancial StatementsWe have audited the accompanylng financial statements of AASWA TRADING AND EXPORTS tlMlTED("the Company''), which comprise the Balance Sheet as at 31n March, 2018, the Statement of Profit and

Loss (including other comprehensive income), the Cash Flow Statement and the statement of changes in

equity for the year then ended, and a summary ofthe significant accounting policies and other explanatoryinformation.

Management's Responsibillty for the Financial StatementsThe Company's management is responsible for the matters stated in section 134(5) of the Companies Act,

2013 ("the Act") with respect to the preparation and presentation of these financial statements that give

a true and fair view of the financial position, financial performance (including other comprehensiveincome), cash flows and the changes in equity of the Company in accordance with the accounting principlesgenerally accepted in lndia including the lndian Accounting Standards (lnd AS) specified under Section 133

ofthe Act, read with relevant rules issued thereunder.

This responsibility also includes the maintenance of adequate accounting records in accordance with theprovisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraudsand other irregularities; selection and application of appropriate accounting policies; making judgments

and estimates that are reasonable and prudenU and design, implementation and maintenance of adequateinternal financial controls, that were operating effectively for ensuring the accuracy and completeness ofthe accounting records, relevant to the preparation and presentation of the financial statements that Sivea true and fair view and are free from material misstatement, whether due to fraud or error.

Audito/s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matte6which are required to be included in the audit report under the provisions of the Act and the Rules madethereunder.

we conducted our audit ofthe Financial Statements in accordance with the Standards on Auditing specifiedunder Section 143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financial statements arefree from material misstatement.

An audit involves performing procedures to obtain audit evidences about the amounts and disclosures in

the financial statements. The procedures selected depend on the auditor's jud8ment, includinB theassessment of the risks of material misstatement of the financial statements, whether due to fraud orerror. ln making those risk assessments, the auditor considers internal financial control relevant to theCompany's preparation of the financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accounting estimates made byCompany's Board of Directors, as well as evaluating the overall presentation ofthe financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

Ch!

a-

MUKESH M. SHAH & CO.

our audit opinion on the Financial Statements

301 Page

CC

+

Floor, Herilago ChambersBikaneruvala, Odf S.M. Road,

Nr. Azad Society, Nehru Nagar, Ahmedabad-38o 015.Phone : (B) 079 - 2647 2000 E mail: [email protected] : www. mmsc!.in

Place: Ahmedabadoate: Fl *,1 Ar,utf

CHAFTEFEO ACCOUNTANTSAHMEDABAD ' MUMBAI. BANGALORE

1. pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect thetransactions and dispositions ofthe assets ofthe comPany;

2. provide reasonable assurance that transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accountinB principles, and that receipts

and expenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and

3. provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,

use, or disposition of the company's assets that could have a material effect on the financial

statements,

lnherent limttatlons of h*ernal Financial Controls ovet Financial RePortlnt

Because of the inherent limitations of internal financial controls over financial reportinS, including thepossibility of collusion or improper management override of controls, material misstatements due to erroror fraud may occur and not be detected, also, projections any evaluation of the internal financial controls

over financial reporting to future periods are subject to the risk that the internal financial control over

financial reporting may become inadequate because of changes in conditions, or that the degree ofcompliance with the policies or procedures may deteriorate.

Oplnionln our opinion, the Company has, in all material respects, an adequate internal financial controls system

over financial reponinB and such internal financial controls over financial reportin8 were operatingeffectively as at March 31, 2018, based on the internal control over financial reporting criteria established

by the Company considering the essential components of internal control stated In the Guidance Note on

Audit of lnternal Financial Controls Over Financial Reponing issued by the lnstitute of Chartered

Accountants of lndia.

For MUKESH M. SHAH & CO.,

Chartered AccountantsFirm Registration No.: 106625W

co ACCSwrat S. Shah

PartnerMembership No.: 102651


311 Page

' /Floot, Heritage ChambelsBikanenvala, O{f S.M. Road,

Nr. Azad Socisty, Nehru Nagar, Ahmedabad-38o 015.Phone : (B) 079 - 2647 2000 E mail : [email protected] : www.mmsco.in

I CHARTERED ACCOUNTANTSAHMEOABAD. MUMBAI. BANGALORE

"Annexure A" referred to in the lndependent Audltorj Report of even date to the members of AAswATRADING AND EXFORTS UMITED on the Financlal Statements for the yeat ended 31nMa.dr, 2018.

Based on the audit procedures performed for the purpose of reporting a true and fair view on the financialstatements of the Company and taking into consideration the information and explanations given to us

and the books of account and other records examined by us in the normal course of audit, we report that:

1. (a) The Company has maintained proper records showinB full particulars, including quantitative

details and situation offixed assets on the basis of available information.

(b) Some of the fixed assets were physically vermed durinS the year by the management in

accordanoe with programme of verification. According to the information and explanationsgiven to us no material discrepancies were noticed on such verification. ln our opinion, thefrequency of verification of the fixed assets is reasonable having regard to the size of theCompany and the nature of its assets.

(c) As company does not have any immovable property, this clause is not applicable.

2. (a) The inventories have been physically verified by the management during the year. ln our opinion,the procedures for the phpical verification of inventory followed by management are reasonable

and adequate in relation to the size ofthe company and the nature of its business.

(b) ln our opinion and according to the information and explanation Biven to us, the company has

maintained proper records of inventory. No material discrepancies were noticed on physical

verification of inventory.

3. The Company has not granted any loans, secured or unsecured, to companies, firms or other parties

covered in the register maintained under section 189 of the Companies Act, 2013. Accordingly,

clause (iii)(a) and (iiil(b) of paragraph of the Order are not applicable to the company for the currentyea r

4. ln our opinion and according to the information and explanations given to us, the Company has notgiven any loans, Buarantees or security or made any investments to which provisions of section 185

and 186 of the Act is applicable, and accordingly paragraph 3 (iv) of the order is not applicable tothe Company.

5. The Company has not accepted any deposits from the Public within the meaning ofthe provisions ofsection 73 to 76 or any other relevant provisions ofthe Act and the rules framed thereunder. Further,according to the information and explanations given to us, no order has been passed bythe CompanyLaw Board of National Company Law Tribunal or Reserve Bank of lndia or any court or any otherTribunal, in this regard.

6. As per the information and explanation given to us, the Central Government has not prescribed formaintenance of cost records under sub section 1 of section 148 of the Companies Act, 2013 are notapplicable to the Company during the year under audit.

7. (a) According to the information and explanations given to us and on the basls of our examinationof the books of account, the company has been generally regular in depositing undisputedstatutory dues includinB Provident Fund, Employees'state lnsurance, lncome-tax, Sales-tax,

Goods and Services tax, Service ta)(, Custom duty, Excise duty, Value added Tax, Cess and anyother material statutory dues during the year with the appropriate authorities. Moreover, as

at 31n March, 2018, there are no such undisputed dues payable for a period of more than sixmonths from the date they became payable.

(b) According to the information and explanations given to us, there is no statutory due which is


M,S

o

disputed.

321PAcq

it,lt,[tl,

il,

7th Floor, Heritage ChambersB/h. BikaneMala, Otf S.M. Boad,Nr. Azad Society, Nehru Nagar, Ahmedabad-38o 015.Phone : (B) 079 - 2647 2OOO E mall : [email protected] : www.mmsco.in

Date: )1 .oT-- ?rt t

I cxlnrERED AccouNTANTsAHMEDABAD. MUMBAI. BANGALORE

8. Accordlng to the informatlon and explanatlons given to us and on the basls of our examlnatlon ofthe books of account, the Company has not defaulted ln repayment of loans or borrowlngs fromany financial institution, banks, government or due to debenture holders durlng the year.

9. The Company did not raise any money by way of initial public offer or further public offer (lncludingdebt instruments). The term loan raised durinB the year has been utilised by the Company for thepurpose for which the same has been taken.

10. According to the information and explanations given to us, no fraud by the Company or on theCompany by its officers or employees has been noticed or reported during the course of our audit,

11. According to the information and explanations given to us and on the basis of our examination ofthe books of account the Company has not paid managerial remuneration to Directors during theyear. Accordingly paragraph clause 3(xi) of the Order is not appllcable to the Company.

12. In our opinion and accordin8 to the information and explanations given to us, the Company is not a

nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable to the Company.

13. According to the information and explanations Biven to us and based on our examination of therecords of the Company, transactions with the related parties are in compliance with section 177and 188 of the Act where applicable and details of such transactions have been disclosed ln thefinancial statements as required by the applicable accounting standards.

t4. According to the information and explanations Bive to us and based on our examination of therecords of the Company, the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertlble debentures during the year.

15. According to the information and explanations given to us and based on our examination of therecords of the Company, the Company has not entered into non-cash transactions with dlrectors orpersons connected with him. AccordinBly, paragraph 3(xvl of the Order ls not appllcable to theCompany.

15. The Company ls not required to be registered under section 45-lA ofthe Reserve Bank of lndla Act7934.

For MUKESH M. SHAH & CO.,

Chartered AccountantsFlrm Registration No.: 1

Place: Ahmedabad

25W

CCSuvrat s, ShahPartnerMembership No.: 102651

;l


331 Page

,,;1i,,

1' fli;{iil

I

q

, Heritago ChambersBikansrwala, Ofl S.M. Road,

Nr. Azad Society, Nehru Nagar, Ahmedabad-38o 015Phone : (B) 079 - 2647 arco E mail : cofllacl9mmsco.inWebsite : www.mmsco.in

CHANYEBEO ACCOUNYANTSAHMEEIABAD. MUMBAI. BANGALOBE

,ANNO(URE B" TO THE AUDITORS' REPORT

Report on the lnternal Flnancial Control clause (i) of sub-section 3 of section 143 of the Companies Act,

2013 ("the act"l

We have audited the internal flnancial controls over financial reporting of AASWA TRADING AND EXPORTS

LIM|TED ("the company'') as of March 31, 2018 in conjunction with our audit of the financial statements

of the Company for the year ended on that date.

Management Responslbility for lnternal Financial Controls

The company's management is responsible for establishing and maintaining internal financial control based

on the internal control over financial reporting crite a established by the company considering the

essential components of internalcontrol stated in the Guidance Note on audit of lnternal Financial Controls

over Financial Reporting issued by the lnstitute of Chartered Accountants of lndia [lCAl]. These

responsibilities include the design, implementation and maintenance of adequate internal financial

controls that were operating effeaively for ensuring the orderly and efficient conduct of its business,

including adherence to company's policies, the safeguarding of its assets, the prevention and detection of

frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation

of reliable financial information, as required under the act.

AuditorC Responslbility

Our responsibility is to express an opinion on the company's internal financial controls over financial

reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of

tnternal Financial Controls Over Financial Reporting (the "Guidance Note")and the Standards on Auditin8,

issued by tCAl and deemed to be prescribed under section 143(10) of the Act, to the extent applicable toan audit of internal financial controls, both applicable to an audit of lnternal Controls and, both issued by

the lCAl. Those Standards and the Guidance Note require that we comply with ethical requirements and

plan and perform the audit to obtain reasonable assurance about whether adequate internal financial

controls over financial reporting was established and maintained and if such controls operated effectively

in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal

financial control system over financial reporting and their operating effectiveness. Our audit of internal

financial controls over financial reportinB included obtainin8 an understanding of internal financial controls

over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the

design and operating effectiveness of internal control based on the assessed risk. The procedures selected

depend on the audito/s Judgement, including the assessment ofthe material misstatement of the financial

statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the Company's internal financial controls system over financial reporting.

Meanint of lnternal Flnanclal Controls over Financial Reportlng

A company's internal financial control over financial reporting is a process designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparation of financial statements for

external purposes in accordance with generally accepted accounting principles. A companys internal

financial control over financial rePorting includes those policies and procedures that:l,ll. S


341

D ACC

t5

,

Hsritage Chambers: BikansMala, Off S.M. Road,

Nr. Azad Society, Nohru Naga( Ahmodabad-38o 015.Phono:(B)079-2 72 )O E mail: [email protected] : www.mmsco.in

Place: Ahmedabad

I CHAFTEREO ACCOU TANTSAHMEDABAO. MUMBAI. BANGALORE

For MUXESH M. StlAH & CO.,

Chartered Accountants

#-"14::*'*PartnerMembership No.: 102551

Opinionln our opinion and to the best of our information and according to the explanations given to us, theaforesaid financial statements give the information required by the Act in the manner so required and give

a true and fair view in conformity with the accounting principles generally accepted in lndia including lnd

AS, ofthe financial position, ofthe Company as at 31d March, 2018, and its financial performance (including

other comprehensive income), its crsh flows and the changes in equity for the year ended on that date.

Report on Othe, Letal and Retulatory nequirements1. As required by the Companies (Audito/s Report) Order, 2015 ("the Order") issued by the Central

Government of lndia in terms of sub-section (11) of Section 143 of the Act, we give in the"Annexure A" statement on the matters specified in paragraphs 3 and 4 of the Order.

2. 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 ourknowledge and belief were necessary for the purposes of our audit.

(b) ln our opinion, proper books of account as required by law have been kept by the Company so

fur as it appears from our examination ofthose books.

(c) The Balance Sheet, the Statement of Profit and Loss (including Other Comprehensive lncome),

the Cash Flow Statement and the statement of changes in equity deah with by this Report are

in agreement with the books of account.

(d) ln our opinion, the aforesaid financial statements comply with the lndian Accou nting Sta nda rds

specified under Section 133 of the Act, read with relevant rules issued thereunder;

(e) On the basis ofthe written representations received from the directors as on 31't March 2018

and taken on record by the Board of Directors, none of the directors is disqualified as on 31n

March 2018, from being appointed as a director in terms of section 164(2) of the Act.

(fl With respect to the adequary of the internal financial controls over financial reporting of theCompany and the operating effecliveness of such controls, refer to our separate Report in

"Annexure B",

(g) With respect to the other matters to be included in the Auditor's Report in accordance withRule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best ofour information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations as at March 31,2018 on itsfinancial position in its financial statements - Refer Note 15 of.the financial statements;

ii- The Company did not have any long-term contracts including derivative contracts for whichthere were any materialforeseeable losses.

iii. There were no amounts which were required to be transferred to the lnvestor Educationand Protection Fund by the Company.

M.S

oo'c)


Date: (hoy 2-1,2DlY

351 Page

AAWA INADNG AND qPORTS UMITED

!.lanc. Sheet 5s .t March 3L 2018

Parthrlr6 ItotlNo,

amt. In Rs.

AsEtM.Eh tr. mra March 31,2017 ADnl1.2015

ASSETS:Ilon-(lncnt Assats:

Property, Plant and EqulpmentFinancial Aslets:

Other Financial Asse6Ar5et5 tor current tax lNetl

Cu.r.nt Arr.ts:Financial Assetsi

Cash and Cash EquivalenEOther Curr€flt Arsets

TotalEqUITY AND UABUNES:

Equlty:Equity Share CapitalOther Equity

xon{urrlnt Uabilities:Financial Uabiltrei:

Other Financial Liabiliti€s

Deterred Tar Liabilfties [.letl

Current tiabilities:Financial Liabllities:

Other Financial tiabilitie.

currentTax Liabilities [Ndl

Tot!lSlgnmcant accounting Pollcl€sllotcs to thc Flnanclal Statlmants

Is

61

89

1011

121314

2

lto30

14 154

143:5 704364(x2

18 880

145107552 79 567

25 246

144 49 m42 21816

Iit 04 910

171 56522429

148 39 202

13102824 663

146 99 066

7 72 94771282

193 994 155 691 194 2231{a 98 9(}{ I aq q4 aq1 1 a8 91 289

72 @ 00076 14 531

72 m 00075 6a 896

72 00 0(n75 86051

148 34 631

$ 8Zr

1 18 68 895

5 27429 806

147 85 051

ls &t2

38 284ro 157

35 080

40 10r31216l9 500

55 44340 795

48 451 90917 7 07 2381aa 9t 904 149 94 893 148 93 289

fu o€r our reoon of even date torand on behalf of the Eoard t

@{A;t<hFor Mutesh M. Shah &Co.,Chane.ed AacountanEFlrm Retlstrauon l{umteri ,PP

lfarEsh.,. Praiap6tlcompeny S€creEry€c.

Suvrat S. Shah

N: sra Xevur L Parilhch;lrD.Ron C $l -'o'rt ttt' J

._ 0{_o("J".r' lEl sr,"r, eEl:oealrl.7Ahmedabad, Dated: May 29,2018

@?-ALNitin L- ShavsarChi€f Frnancial Officer

'lMembe6hip Numb€r: 1

ahmedabad, Dated: May 29,

361 Page

AASWA TBADIXG AND EXPORTS UMTTEO

St t ment ol Proflt .nd Loss foi th. ycar Gnd.d M.tch 31, 2018

hadculars ilot.No.

Amt. In Ra

Y€...ndcd March 3120r8 2017

Revenue from Ope6tlons

qPE SES:

PurchasB ol Stocl-iGTad€Employee 8€nEfiB &penseDepreciatron, Amortisauon and lmpalrment e:p€nseOthe. Etpenses

Total fupensa5Proft/(to.r) b.ro.. r8r

L6S: Tar fupense:furentTarTax edlonment for ea ier years

Pronv(Lorr) lor $. tt.tOth.r Comp,.hrnslvc lncomc ,o. th. y..r ltart of ExlTor.l compr.hcnsh/r lncom. lo. thc yc!. It{Cl ot T.rl8..k & Dllut dE inlnS p.. Eculty Shara [EPsl nn RuPCcsl

Shnilk nt Aacoundq Polld.ttaotta to tlE Flnandal Statamantt

1517

18193

20

21

222

1to 30

213 21542r0 47 959

s 15 40 7941315826

2 83 69 65r

2 73 13 S785 SX| l{tl

47t64 a6 401

5 28 55 620

5 15 26 7017 50 055

6 3554 7t042

2 t4 03 996 s 27 34 t7S- 34 345

80

102 445

19 500

80 19 600- 34 265 82 845

- x 265 828,,5(oosl o.12

As oer our remn of eeo dateForMukesh M. Shah & Co.,ChanEred Acrountants .6?

/aresh J. Pr.iaFqti

company secretary

@-ez

*W'-6dnFirm ReSinration Number: 1065251U

c.c ':iKeyur l. Parikh

Cheloe6on tl!D{ : oo' taq tt,

=Jt#:J:lsslXl{'6.', "(')Ahmedabad, Dated: May 29, 2018

Suvrat S. Shah

Membership Number: 102551DAC

Nitln L. Bhavsar

Chlet Financlal OlficerAhmedabad, oated: May 29,2018

371 Page

sh3,!Sl.t m. ofol.n8t In Eq forthc ended March 31" 2018

AASWA TRADING AND UPORTS UM|TED

No, of Shaa€s ln Rs

7 2000o 72 m 000

7 20 000 72 m 0(x)

7 2rlm 72 m 000

Equlty Sh5r6 o, lt{R 10/- ..ch, lt3u.d. Subr.tlbGd .nd Fully P.ld-uP:As at April1,2016

As at Manh 31,2017

as at March 31,2018

b OthcrAmL h Rr.

Rct lncdE rnln6

Itaitr ol oo Totrl

,5 t5 0s182 845

758605182 845

75 58 99676 68 895- 34 255

75 58 89675 58 895- 3rr 265

764463176 6r76 34 63176 34 531

Aa .r ADril ," 2016Add: Proflt for the yearTotal comEahcnriva hcomaA3 ar March 31,2017Add: Lo;s for thc yc.,Total Compr€h€^sive hcomear .t M.rch 31, 2018

I

1rrr@

@-@zBh6v6h0ire$or

sl"|1r : ozsrrt <)

CSuvGt S. Shah

Membe.ship Numb€r: 102651Ahmedabad, Dated: May 29 2018 Ahmed.ba4 Dated: May 29,2018

Naresh l. Prajapatl

Nttln L. ghavsar

Chief Flnancial Otficer

As oer our rcoort of even dateForMuke5h M. Shah & Co-.

Chartered AccountantsFlrm Registr.tion Numbcr: 1O652Sw

klorrr, orr,'st'f

E

381 Page

\i

AASWATRADING AND EXPORTS TIMITEDAHMEDABAD

CASH FLOW STATEMENT FOR THE YEAR ENDED 315t MARCH. zO18

PARNCU|ARS 201?-2014 20r&2077

A. CASH FLOW FROM OPERATING ACflVMES :

Net ProfiV(Loss) befoJe Tax and extraordinary items :-

Adjustments for -

Depreciation

Interest (lncome) / Expenses

Operatin8 profit before workin8 capital charges

Adiustments for-

Increai€/(Decreas€) in other Financial Assets

lncrease/(Deffease) in other Current Ass€ts

(Decrease)/lncrease in Other Financial Liabillties - No. Current

(Decrease)/hc.ease in provisions - Non Current

{Oecrease)/lncrease in Other Flnancial Liabilities -Curent(Dccrease)/lncrease in provisions - Currentlncome tax Refund / (Paid)

Net cash lnflow / (Outflow) from operatior Activities .,.(A)

B. CASH FLOW FROM INVESTING ACNVMES :

lnterest lncome

Net cash h0ow / (Outfiow) In lnvesgnt Acdvltles ...(B)

c. CASH FLOW FROM IINANCING ACr|VIYIES r

Net Cash lnflow/ (Outfiow) from Flnandnt Actlvhles

Net changes ln cash & Cash Equhrdlents (A+8+C)

(c)

cash & cash Equivalents - Cloring Balance

Cash & Cash Equivalents - Opening Balance

4 715

- 10 39 944

-uys

- 10 3s 228

6 366

- 13 06 942

1 02 445

- 13 00 576

2 14 051

2 234

10 548

- 29 806

- LA77

- 21050-103995

- 10 59 5r3

70156

- 91751- 3 381

527429 806

- 26 342

- 9 579- 54 751

- 11 98 131

- 150 724

10 39 944

-999407

10 39 944 73 06 942

- 13 4E E55

13 05 942

to 39 944 13 06 942

40 517 - 41913

1 71 565

1 31 028 40 537

1 31 028

7 72 947 - 41913

Note:

1 cash and cash equivalentJ presented ln Cash Flow Statements consists of cash on hand and unencumbered, highly liquid

bank balances-

2 The above cash flow statement has been prepared as per the "lndlrect' i Method" set out in the lndlan Accountlng Standard

(lnd AS)- 7 Statement ofCash Flows-

A5 per our reoortofeven date

Mukesh M. Shah & Co.

Chartered Accountants

Firm Registration No.106625W

f

ffiNaresh J. Praiapati

Company Secretary

C,CKeyur J. Parikh

chairperson lgA$: @t t'$4tft

Suvrat S. Shah

PARTNER

Membership No.102551

Nitin L. Bhavsar

ChiA{Financial Officer

Bhavesh Shah

Oirec:tot ( DI:P : o2rrto+a)

Ahmedabad

May 29, 2018

S //

Ahmedabad

May 29,2018

391 Page

l,IMITEDAASWA

Not!:

The company ts a pirbth comp.ny domtctted tn tndt! .nd rs lncorporrd under th€ trovBions of the ComP.nlcs Act, 1956 (now ComPani€s

A4 2Ot3). tts shares are tist€d rt rh. Eombay Stoct Erch.rye (BSE Umited) ln lndia. The.eglstered omce ot the comPany is lrated at

32, MiLnpark So.i€ty, Near lawdha. Chowk ManlnaS.r, Ahmedabad - 38O O@.

The fimncbt sEtements for th€ year ended M.Gh 31, 2018 ,rcrc ruthorbad ior issue ln accotdance wlth a Esolution of lhe directors on

May 29,2018.

ng cottgn labks and teruhs ploductsAaswa TrddlnS and fupons Umlt d is enSaSed ln

Polld.rTh6 followln8 llrt slgnltlc.nt ntln8 polbies ln the 9rc94n tlon $ese nclal statements.

polici€s conslstentv Ppltd to the !€d stated

I Easb ot prapaElton:A The ftnanclat sEtemenB have been prepared ln ac.ordance wlth lndian AccoundnS Standards 0nd ASI noufled under the

Companles ltndian fucounting Standards) Rules, 2015, es amended and other relevant provLdons of the Companles Act,2013.

I tor ;1 periods up to and tnc,udtng the year ended Marah 31, 2017, the Company has prepared hs tlnanclal ttatemenE

in accordance w-ith the accoungni srandards notmed under the sectlon 133 of the Companles A.t 2013, .ead totether vrith

par.g6ph 7 of the Compani{s tAccountsl Rul€s, 2014 lP.evlour GAAP:.

ihe aomp3ny has adopt d Inrt As as p.r Compant.. Ihdhn AE ouflting Standardsl Rules, 2015 as notffled under Secdon 133 of the

Compan{es Act 2013 io. thcae Flnlnctrt it tments bednnlnt April 01, 201.7. As per the Ddmlplc5 of lnd As 101, th. tansltion date

to t; AS is Aprit 01, 2016 and henct t r. comp.r.ttv6 ior the prarbus y.er ended Ma,th31, 2017 tnd b.l.nc!s ar on April 01, 2016

;ve b€en rEsrated as pe. the p.tmtpl€r ot tnd aS. How6rer, therc b no .hange in net plofh or (h6s) trprted ln .cEoldance with

pr6.ious GAAP to tota,6mp;henstv. tncome h ac.orda&E wlth lnd As ior the qu.rte. and ye.t end.d MarEh 31, 2017. Also ther€ is

no change tn €quity as on March 31, 2017 ar ptarlousv reponed under p.Et lous GAAP to lnd A3 not.-3o'

c Th€ financial statements hrve bacn pfepared on hBtorlcal cort ba5i5, eEept for dle followinS assets and llabllltlra which have

t €cn me3sured at fairvalue or reialued amount:

i Derivative finamial innrumentsii Certaln ffnanclal ass€ts and llabtlhles mea3u.ed at tair value lrefur aacoumln8 pollcY aegardlB flnanalal lnstn mmtsl

iii Defined beflefit PlansIv C€{tain tten5 ot Propertv, Plant and Equlpment

Ur! of Enlm.t !:The p.eprrafion of the flnanclal statam€nti ln conformlty whh lnd as rcqol.es manalemant to make estlmates, iudgments and

assumiions.Iheae estimales,lud8menB and eisumptron3 effed the apdlcation of a6orrnlln8 pollchi and the reported amounB

oi assets and liabllltes, the dLtctosurer of contln6ent a3sets and llabllhles al the date of the flnancl.l $atements and repo(ed

amounE oI income and o(penses durlng the pertod. Applicauon of aacountint pollcles that aaqulrc crhlcrl accountlnt e5tlmate5

tnvoMnf comp|el and 5ubiecttve ludgmlns are prwlded below. Aaaouodng estlmates could Ghante from pedod to period. Actual

results could dK"tea from th6e €atimatct. Approprlat€ chanSes ln estimatEa are made as manatemcnt becom€5 aryaae of clranSes

ln circurnstancE6 suaroundlng the asumat€a. Chang€s ln €sdmates are Grl€cted ln dle flatnclal strtcments ln tha gcdod lo whiah

chanSes are made and, if naterlal, thrlr elfaaB sre dEalosed ln the notes to the fimnclal at€mcnts'

Crltlc.l Gdtn t s.nd ludgrnc ta [email protected] Tarar:

StSntficant judgnpnts ..a lnvolved ln detenntnin8 the grovbion aor income tu€a, lncludh! amount e$ected to be paid/

r€<Dver€d ,oa uncertain tar posttlons, snd ln estlmation of defened tar astet or llaullty'b Prop!.ty, pLrt.td aqulgrEnl_Ifie

allaiEe in .eipect oI pertodtc dep.Galation on Prcperty, Pbnt ad EqulFnent l5 derlvld after dete.mhing an estmate

ol "n

asits erpecteO uscfut lfe .nd the erpecred .estdual value at the md ot hs ,ife. M.rElement relrl€ws the Esldual

values, us€fu| llvca and methodr of degreciation of p.openy, plant and equip.nent at Easonable lnte ah and any

revsion to th6e ts recogfilsed paospectlvely ln current and futlre pedods. The llves aa! based on historlcal sp€dencewith simllal asscts as well .s antlclp.tton of futur€ E ents, whhh may lmpact dEl. llle, such as chenges ln t€d)nology.

Signifi@flt ludgmeot ts tnvofued ln det..mhlng the estlmated future cash llows end/or Net Reallsable value from theprop€rty, plant and Equlpment to determine lts value ln uselo assess whethea there It anY hpalrment ln lB carrying

amolnt as reflected ln the flnanclalsc Emgbyaa EanGftt:

Sitniflaant ludgments arc lnvolv€d ln maklnt estlmatg about th€ llle epectancy, dlscountlng r.tq sal5ry lncrease, etc.

*ii"t .Bnrncantty "tt*t

tt e wolttn8 of the prdent value of fuhrre liabilhi€. on .ccount ot amdoYee bcnefts bv way of

defined ben€trt Pl.ns-

2

3 Forll8n Oft .ncy Tran$dont:The compary's financial statarnents ar! prrsentd ln lndlan Rup€es [lNRl, whi:h is the functl,onel .nd pr€5entrtlon .lraEncY

a It4nua Rlaognhion:t Raenue irecognised to the e[rnt that tt ts p.obabh rhat the economlc benefita wlll flow to tha Comp.ny and the .6/cnue can be

reltably mersu.ed, refErdl€5s ol when the pay.flrnt is belnt made. R6.enue b measutcd al the falr value of the cor8lderation

re€ehr€d or rec€ivable, takint lnto accorrnt contracEalv d€rined terN oI payment and excludln! tarc5 or duties collected oa

behalt of dre tovemment and {s shown net of eturns, trade allowanc€s, rebates, \6lue added tar.s end volume discounts

B Vatue Added T; / GSI is not recetved bV the Company on its own a.counl but tar Bcollected on value added to r}|e Goo& bY

the ComFny on behal, of the Sovemmett. Atcoldlotv, h b eEluded (rom .evenue.

401 Page

all

A

AASWA IMDING AI{D O(PORIS UMiTED

ilot ; Pofide.{ondnC For rqrenue to be recognlsed, the llowlnS specmc recogniUon criteria tor eaah typea ol revenue must b€ Satlsffed

. s.b ol Goo.I3:R6,enue f"om the..le of goodr ls ,ccotnised when the sitnficant rlskr and rerrards of owno.lhlP of the toods t6v€ Passed tothe buyer, usualh on delivcry of the goodi. Revenue ,mm th€ sale of aoods b measut€d at tho fak value ol th€ consideration

r€ceived or rEceivable, net of returns and allowanaB, tr.de di$ounts and volume rcbat€., ll a^Y.

Rev€nu€ from sate! ls bas€d on tlle price i6 the sales contracts, net of dircounts. Hlstorical elperlence Is used to enimate and

provide for crJstomer clalm3. No elem€nt of financlnS i5 deem€d present as the sales a/e ma.le wlth the normal credit te..ns as

per 9r€vatent trade praEt ce and credit pollcy follow€d try tho Companvb lnt.rost lncomc:

Foralldebt lrBtrument! mrriur.d !t amonised cott, inteGst Income is re$rded urlnS the affecuva lnt€rd rate [ElRl, EIR is

the .ate thar exactly dlscounB the estlmated future c6sh payments or recelpti over the erpected ltfe of the flnanclal instruhentor a shoner period, wher€ approprlele, to t re tross .arrylry .mount of the flnanclal asset or to the amo.tls€d cost of a

tinanciat liabllity. When calculatlng the effectlve lnterest rate, the Company estirnates the etpe<ted cash fiows bY considering

allthe cont actualterms oI the financlal lnstrumant but does not consid€r the etpected c,edlt lories,c Otier:ncome:

Other income is recognrsed when no slSnlllcent uncertalnty as to ll5 determlnation or reallsstlon exlsls.

5 Taxas on lnconc:Tax expensEs comprEe ot crrrtent and defened tal

a Cumnt Tar:a Cunent tar ls measu€d at the amount arp€cted io be paid on the basis ol relie{s and deduftloG avallable in accordance witi

the provtsions ot the lncome Tar Act l95l, The tar ral€s and tax laws ured to aompute the emount are those that are

enacH or sobsEndvelY enactd, at the reponlng date,b Cu.rent tax items ale .!<olnl.cd ln conclatlon to thr underMn! tranraction elthcr ln 5lrtamcnt o, Dtoflt rnd bss, O$et

ComgrdEnsive lncome (OO) or directlY ln equlv.a Dcfanad Tar:

s Defer.Ed br ts provtded usrnt thgltabttlv mqhod on tcmpoary dlttlren es betw.€n th. t x ba3c5 of alsets tnd li.billb€s and

thck canylnt anouflt! for flnanclEl repordn! gurpos€5 el the repo.tnt deteb Det€rred tar llaHlltl6 are recotnased for.lltarble tempoEry d$ftrenc€r'c Defe.rEd ta, assets are recoSntsed ,or all deductlblc temporary dtffe.enc€5 3nd canytorward of unused tar losses. Delened

rax assets are recognised ro the e{ent that lt ls probable thattaEble profitwillbe avallable ataln5t which the deductible

temporary diflerences and aarry foaward of unus€d tax losses can be utillzed.

d The carryinS amount of defefied tEx errets is revlewed at each reportinS date and reduc€d to the extent that it is no longer

probabte th;r sufficient taxable profrt wlllbe.vallable to allow ellor part of the delerred Ex asset to be utlliled. Unrecognised

;eferred tax assets are re-assessed at each r€portint date and are rccognlsed to the enent that lt has becoft€ probable thattuture taEble proflts wlll allow the deferred tar asset to be recovered.

e Defened tar aiseE and liabllltlG are measured at the tar rates land tar laws) that have been enacd or substantively

enacted at the reportln8 date and are €xpected to appv in the year when the ass€t Is realised or $e liablllty 15 settled

f Defened tar items are recogalsed in coarelatlon to tte underlying transactron eilher ln statement of prcllt and loss, Other

Comprehensive lncome (OCl) or dlrecfu h equlty.

t fu lar assets and d€t€ned tar llabllld€a are ofhet if o lrgslly eoiorEeabla rlSht arlsts to set off clllrlnt tax aisets atainst

orrrent tar rrabrlluet.

rtopc.ty, P|.nl .nd EqulFr.nl:A prop€nv, Plant and Equlgmant ar6 statrd at hlstorl(,l cost ol aa{ulsitlon Lss acoJduhed and lmpalnnent loss, f aDy. Historlcrl

cost I Net o, inFrt t x cr€dh rec€tved / recerr.bhl includB rehted erpendibrc and preog.dtive & prol.ct erpenses for tieperiod up to which the ass€B are r€edy for lts lntend€d use, It the recognition cdterta arE met rnd the pacs€rt value of the

elpected co6t for the deommlsslonln! of an ass€t shar lts Use is in€lud€d ln the cost of the rcspecBve aasat ll the rcco8nltion

Ior a povtsion are mer O'r transttion to hd AS as on Aprtl L 2016 dte Company hrs elected to tnersur. hs Property, Plant and

Equlpment at carryinS value as per p.evlout GAAp.

subsequent costs ere lncluded ln tha dsats caaryln8 amount o. Gcognlsed as a sepatata ssset, a3 lppaoprllte, only when it is

probabt€ that futrre economic beneflts assoclated whh the item wlllflowto the Company and the cost of the ltem can be

measured rellabv. The carylng amount of any component accounted for as a sepaaate asset ls derecoSnlsed when replaced All

other repairs and maintenance chary€d to the statement oI prorit and loss durlna th€ r€ponlnS p€rlod ln whlch they are lncur.ed.

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411 Page

AAWA InADII{G AI{O E(PORTS UMITEDItotc: 2.gmlf bnt A.countkg Polldcs<ondnu.d:

I OepreclaUon on tanglble assets b provld€d on 'wrltten down value method'. Useful life of tangible fu€d attets are as perprescribed in Schedule-ll of the companl€s AEt 2013-The mahatemefit b€li6ras that rh€ae €sdmated useful llves are re.llstlc and r€{lect lair app.o{mat}on of the pe.bd over whlchth€ assets are likely to be us€d. However, manatement r€vl6xs the r€aldual value., useful llves and methods of deprrcladon ofproperty, plant and equipment at reasonable inte^.el!. Any rcvlsion to th6e ls recotnlzed prospectlveh ln curnent andfuture periods.

C Oep.eclarlon on lmpoired ass€ts ls calaulated on lts raducad valuq it any, on a synematic basis over its remaininS useful life.

D oepreclatlon on addi6on, dbporah of dle PrDperty, Pl.nt & tqulpments durint the year 15 povided on pro-n|ta basrs accordlnt tothe p€rlod durint whici as€ts are used.

E An lrem of property, plaat and equipnent and arry slgnllkrnt part thenof lnltialv recoSnis€d i5 der€cognised upon disPosal orwhen no fuhrre ecooomic b€nefiE are eBpected lrom lB use or dlsposal, Any tain or loss arising on de-.ecognition ot the asset

lcalculated as the dlfference b€twe€ll th€ net dlsposal procc€ds and the carrylng amount of the asserl is included ln the statem.ntof profit and losr when the asset b derecognGed.

7 hpsl.mcnt of AsrattThecarryint amounts of Property, Plantand Equipmentand lntanglble asiets are revle*ed at each balaflce sheet date llthere itany indlcation of lmpalrment based on internayerternal factors. An lmpalrment loss ls recognized rrherever the carryln8amount ofan asset exceeds lts recove.able amount, The re€ov€rable emount Is the Sreater of the asset'5 net sellinS paice and value ln use. ln

assessln8 value ln use, the Company m€asures lt on the basls of discounted estimated cash flows for the remainint years

kemalnlng usefulllae). Asessment ls elso done at each Balance Sheet date as to whethar there Is ary indicationthet an

impalrment loss .ecotnized for an asset ln prio, accorrnung perlodJ may no lonSer exlst or may heve decnEa3ed. Atter i pairment,

depreclaton ls provided on the revlsed carrying amount oI tha siiEt ovfi lts remainllrg u5€fu1 llfe,

8 Eoarowl[ cortr:A gor.owtng casts conslst ot interest and other bonowlnS coitr thlt sre lnclned ln connedion with the borrowlnt of

fu6ds. Other borrowi.rt cosc indude .nclllary chara6 .t the tlme of acqultltion of a financlal llaHlilv, whlch ls

r€coSnir€d a5 rEr EIR metM, Boricwlng co5t5 also indud€ exahange dlfferences to the e)(tert re3arded as an

adJustment to lhe borowing costs.I Eonowlng costs tftat..e dir€cdy.tt ibubble to ih€ .cqul5ttlony' construdlon of a qualfYing aiset are c.dtalis€d.s pan

o, the c6t of sudr d5eB, up to dl€ date the assets ar! r€.dY lor thek lntcnded use.

C For capltaltrat ,on of eligible borowlnt cosB whlch are not sFcfkalv att bdable lo the acquisition, constnrction orproducrton ol a parDclhr qualitdng asset, a ueiAlted aven 8e c.pltallrallon nne ls appll€d for all tll€ eliSible assets.

The welthted ayeraSe rate -E taken o, the borrouing cosE appllcable to the outstandiB bonowlnSs of $e companY

durin8 the period, other than bo.rovin$ rn3de spedlically lor th. purPose of obtainlng a qualilYing asscl

9 lnvcnto.ler:A tnventod€s are yalued at the low€l of cost and n€t reallsable velue. Net reaftsable value is the ertimated selling pnce in the

ordlnary corrrs€ of businest hss estimated costs ol completlon and the €strmatd cosB neessary to rnake the sale,

I CosB (net of tnF)t credit of VAT/GSn comprise. all co.t of purEh.se, con of converion and other cost' ifturred ln bdntlntirwentories to thek prasent locadon ad condhion. Cost formulae us€d ar! 'Fl6t ln tlrst ouf, 'welthted Ave68e Cost', or'Speciflc ldentlfl€tlon' as applicabl€.

C Wrlte down of lnventodes to net reallsableyalue ls rcao8nbad ai rn arpansB and lnclud€d ln'ChrnSes ln lnventorici

of Finlshed 8oods, Worl-lftprqr€ss and Stoct-lftTr.de" and 'Cost of Materlal Consumed' in the rele\/ant nole in th€Statememof Proflt and Loss,

10 Ca,h and Carh Equlv.lcnta:C-arh and Cash cquivalents for the purpose of Gsh Flow Sbtement comprlse cash and cheques h hand, bank brlances, demand

deposits wirh bankr wherc dE oridnal matudty ls three months or lers and oth€r short term hlShly liquid investments. ___._ ,1_:r

€

421 Page

J:i

AAWA IAADNG AND D(PORTIi UMITED

otG t11 Provblona, Contlng.nt U.bllhht Contlni.nt AsaB and Co aots:

a P.ovistons are re(o8nls€d when the Company has a preaent obligiatlon as a result of past evenB and h l5 probabla that thr outflowof resourcB wttl b€ r€qutrEd to s€ttle the obltgatton and ln re.pect of whld: rellable esumates can bc made. wh€n the companYeip€cts some or all or a provlslon to b€ relmbuRed, for example, under an insurana€ contract the relmborsement ls ,e€ognl3ed as

a separate asset h.t only when the relmbuEement h vlrtialv certain. A dlsclosure for conthSent llabllrty 13 hade when therc Is a

posslble obllFtlon, $at may, brrt probably vrlll not r€qulre an outflow of resources .When ther€ 15 a postible oblitauon or a

prese obtlgatton tn .esp€ct of which the llkellhood of outffow of resourc6 is remote, no provision/ dlsclosure is mad€.

Contin8ent a$eB are not recognls€d fut are disclosed separately in the flnanclal statements. Commitments include the amount ofpurchase order (net of advances) issued to parti€5 for compleuon of asseE. P.Dvisions, contlntencies and commltments are

reviewed at each balaoce sheet date and adlusted to refled the conect manalement €sdmates, ContltBent assels are not

.ecqnls€d .nd not dlsclosed 'ep€Etely

in financbl stataments.a f the effect of th€ tlme value of money is nrateri.l, provislons are dlscout€d using a cu.rent pre-Er nlte that tefleds, when

appropriate, dle risls speclnc ro the llablllty.

12 Empbyr! oanaflE:a Shon tlnn obl|,tlorr:

Uabttht6 fo. walei .nd lalarl€a, includinS l.ave encashments that arE expecled to be setded wholly wld n 12 months after theend ol the pedod in shkh the employe6 rander the rehted seruice arE reco8ntsed in respect of employecs' services up to the end

of rhe reporriry period and are measured by the amounts eryected to b€ paid when tll€ liabiliti€s a.e seBl€d- The liabiliti€s arep.esented ar cument employce bene_tlt oblitations in the balance sheet.

! Long t!.m .mployc. banafir obllS.tlonr:I 6.rtulty:

Ltabtlitlc6 of trarulry b detlrmln€d as per the provbion oI Grabity Art who have comPkt€d the rcqulsite pe.lod for b€lng

eliglbh for Retlrcment b€n€iB und€r thc payment of GdtritY a.l 1972.lI koryldcnt Funrl:

provtslon of The Emptoy.6' Provldent funds and Miscellaneour Provisiors Act 1952 are not eppllcable to the company.

lll Lar€ ErEshmrnt:provtsion lor leave eicashment is made on accrual basis ior accumuEted leave t rat employe€s can encash ln futu.e.

13 Fln.nchllnrt.umrnlr:A flnanclat innrum.nt ls aiy contr.ct that 8iv6 .ise to a fin.n l.l a$et ot one endty and a linancial liablllty or €quitvlnnrument of anoth€r entlty.A FlnancLl sslatt:a lnltLl aaaoSnltlon lnd naalrJDanant:

AllRn.nd.la$ets are reaognised Inltially at fair value plus ln the case oI linancaal assets not recorded atralrvalue throuthp.offt or lors,laniacdon cosB thet are att lbubbl€ to the acqulsition oI the flnancial asset. Purchases or taka ol tlnanclal

arsets that requlre dellvery oI assets wlthin a Ume frame established W rqpladon or conventlon ln the mark€t place (re8ula.

way tadesl are recotnlsed on the s€tdement date, 1.e,, the date dEt the company settles to punchase or sell the assets.

b Subaquanl maasrEnant:tor punoses of autBaquent mea6ulement' flnanclal 455€E arc clssslfied ln following caleSorier:

I Dabt lnnrumanta at anronbad cost:A'debt lnstrumand I, measurrd at tha amortlsed con ( both the followiB conditions are met:- The ass.t ls held wlth En objectke of collectln8 contracEal C25h flows- Contracoal tenns of the asset glve alsc on sp€dlted dates to cash Ilo\ 6 that are 'solelY paym€nts of principal

and hterest' [SPPll on the princlpal amount outstandlnt.After lni0al measureirent such Rnanclaless€ts are subsequently measured at amorused con uslng the effectfoe Interest rate

lElRt method. Arnortlsed cost ls calculated by taklng lnto accoum any discount oa prEmlum on atqulsltlon and lee! or Eosts that

.re an integr.l pa.t ot the EtR. The EtR amoniiatlon ls lncluded ln ffnance incorm ln the $aternent oI ?ro{it 8nd Loss. The

lorses adslnS lrom |mp€irmcnt are recogniscd in the statement of profit o. loss. The cat€gorY SEneralv applles to trdde and

other .ece{vabl€6,,ll ocbt lnJtn mGrta at faL Yalua th.ouSh othaa coDPrahanslg! lncorna :

a 'debt hnrum.nt' ls cl€sslfled a5 at d|€ FVTOO lf both of the follourlry criterla are met:- The.srrt ti h€td wtdr obJGcdve of bodn - to. coltectry contr.cBal cash flou,s and selling the flmncial assels

- TIE aas€ts contracual crsh fbws repftsent sPPl,

Oebt inst uments lnctud.d wtortn Sle FVTOO crtegory a.e measu.€d hlualv at well as at each .eportrnt date at Ialr value. Fair

value mo{amcoB sr€ rr<ognized h the OO, However, the Comparry rEcogniles interest Income, impalam€nt losses &

revcr$L .nd for.En .rch.;!. Brtn or h6s ln rh. St tem€nt of Profn and Lo6s. On derecotnit on of thc asseL cumlrhtlve 8aln

or loss pnJtour[ ftBnbad]n OO E rlchssttt€d ftom die equlry to Statemeot oI Protft and Loss. htete5t lsmed whibt

holding FVTOO lratt lnst ument ls r€po(ed .t lnt.re5t ln om. uslng th€ EIR metiod'm o.H lnn um.ntr.nd &tlv.tlv6 at hk Ylt c tb]orlat ProFt or lo55 (fvIPLl:

FVTpt ts a rrsldual cetelory for debt lnstrumenE. Any debt hnrument, which do€s not m€et lh€ ctiterla for crteSorlraion a5

rt.nrord4d con o. .5 fVTOCl, b chsslfi€d as at FvTPt.

tnstrumants tnduded wiahtn th€ FVTPL catetory are measured at lair valu€ with all chan86 r€co$ized h the P&L

c oceaoSrltbn:A ftna;H arset [or, shere .pplk ble, . pa.t of a financLlassetl 6 prlmarllv demco8ni5ed when:

i The alSht to r€celve cash llowr lrom the asset have eryired, orii The dmpany has transfen€d lts rBht to reaelve cash flows from t le as5et or hai assumed an oblEation to pay the reaeived

cash flows to fultwtthour matedataehy ro a thlrd p.rty under a 'pass-througH arrant€menq and either lal the Companv has

tranrfened subgumtaly a th€ rtsts and rewards of tfie asse! or lbl d|e comPlny has neith€r transferred nor retained

subnanthllY .ll thr rlsls and r€{s.ds of thr e3se! but hes transfen€d conttol of the asi€twhen the company has trtnsfearEd lE rlght to receive cash flows from an asset or has enteed lnto a pass_throuSh arrangemenl" il

ey.tuat6 It and to what .ltent tt h.5 cr;tn.d dlc riskr end re{ards oI own€6hip. When it has netther trar'sfen€d ssbsEntlallY all

of the rlsks and llwa.ds of the assel nor t..nsfcrted cootrolof the asse! the Company continues to recosntse tjre t ansfet ed a55et

to the €xtent of tfie company's contlnulry lnvolvernent, ln d|at aase, the companY ako r€co8nlse5 afi assooated llabflity. The ,

tr.nsfarred asset and th. assoctated labtiity a.e m€asur€d on r ba5is that rellects the rifhts .nd obllSatlons that the Company has

retalncd, when the company har transfcned the rlsk and rewards of owneEhlp oftie financlal asse! thc lrme ts derecognked'

risk and r.waada of ownaEhlg of the flh'ncl'l asset lh' same ls der6ognl5ed'

i,\, sr,;

o

431 Page

.!

ch

AASWATRADI G At{O EXPORTS UMTTED

lmpallmant ol assct5:rdance nd AS 109, the Co applle' pected redlt loas ECr,l model fo mea5 ment and recoSnltlo

of impalrmcm loss on tha followlng f,nancltl.ss.E and cradlt rlsl er(Posurc:

a Financiala$ets ttrat are det t lnstruments, and are measured at amortlsed cost

b Trade recekabl€s or any con!_actuel rlSht to recelve cash or another flnandal asset

c Financial assets t}at are debt instrumenB and are meatured as at FVTOCI

Ihe compary tolows .simplif,€d approach, for recoSnldon of lmpslrment loss allovrance on Polnt c provlded above. The

applietion of simptifled appmach doe5 not r€quire the Company to trackchan8es ln credtt rlsk. Rather, h requlres the companv to

;otnise the impai.ment lols attowence based on lltettme ECtl at each reponlnS date, ritht lrom hs lnltl.l recognitlon. For

re(o;nition of impairment toss on other flnanclal.ss€B and risk er.posure, th? Company determlnes that whetherthere has been a

st8ni;cant increa;e ln th€ cr€dtr rtslsince inttlal ccotnhlon. f cr.dlt nsk h.r not lncre.sed sltnllicantlY, l2_month ECL is used to

pr;He for tmAat.ment loss. However, tf c.edlt rtst has lncreased iltnli.smh, lf€tlme ECL ls us€d. tt, in a sub6€quent p€riod,

credit quality of the lNtrument improves such that there b no lont€r a slSnlflcant lnar€as€ ln credlt rlsk slnce lnitial reco8nltlon,

then the entity r6r€ns to recotnlslnS lmp3lrment hss ellowance besed on l2'month ECt

UfuUme ECt are the expected caedlt lossei r€suldnS from all posslbb d€liult events over the axpacted llte of a flnancial

instrument. The 12-month ECt ls . portton ot the llHme ECL whlch reaults from delaoh events that a.e posslbl€ withln 12 months

after th€ reportinS date.ECt ir the differenie behxeen all contracul.l cash flows that are due to the Company ln acotd'nc' whh thc contr'ct and all the

cash flo$5 that the endty erp€cts to receive ll.e., all cash shorifallsl, discounted at the orlglnal ElR. ECt lmpairment loss allowance

Jor r€veEall recognhed du,tn8 the gerk d b .ecognued ar lncome/ e4€nre ln the statement of proft and loss . The bhnce she€t

pr€s€ntatton for varlous flnanclal lnstrumenls Is d€5arlb€d below:

a Financlal assets mea$red as at amods€d cort and conttsctral r6renue receivebleB: ECL l5 pra"nted 's

an

allowance , i.e,, as in lntegral Pan ol the mci5uEment of thos€ assett ln the balanc! sheet, whlci rlduc6 lhe net

cafrylq amount. unll the assct m€€B wrh+off c/n!r|., the company doas not raduce lmpalment allowance from

th€ Eross car.Ylng amounLb fina;chl gua6ntee contracBj EcL Is pres€nted as a ptovbbn ln the balance sheet, i e as

' llabllw

to. ass€ssing l;c.ease ln dedit risk and tmpatrmed loss, tic Company comblnes llnandsl lnstrurnents on lhe basls ofshared credlt rtst cheracteristics.

B FiEndal [abltrtlG*a htdal aacotr donrdrlr allllrEnt

Financiat tra1tfith5 a.E desslfied, at tnfttal reco$irlon, a5 flnancl.l liabilltig at falr value throogh p.orh or loss, loans and

borrowtnSs, payaus, or as dertvetives d€si.n;ted.5 hedStni tnstruments tn an e"ffecuyG hedge, a5 approrhte. Allfln.nclal

tiaOilitirs -are

recognlsed tnntelv at falr value and, ln thc cara of loans and bonowlnSs end PaYabl€a, net of dlreclt att thrtable

tralraction cos6.b subcaqrant mcalurunEnt:

fubrequ€ntly all flnanctat llabtlifies ere measrrred as amonrs€d co3t erccpt for flnanchl lus6ntla Gontra<ls, 6s descnbad trelow:

i toalE .nd ho.routrtt:Afte,lnithl rEcotnh[O tntlr€Et-besrt* loent and bor'owla's a.!

'ub€qu€nth naasurrd at amor1tatl aost using thC EIR

m;od. Gai.rs;d b3s4s arc.€cotnised tn stat ment ol proflt or loss rhen tlre llabllidc. etr detecoSnlsed as wellas throuth

the EIR amortlsatlon Paoccss.amonbed cost ls cekulat.d by taking lnto account alty dlscount or premium on acqultltlon and feet or costs that are an lntetElpa( ot the ElR. The EIR amortisadon ls lnclude<1as flnance costl ln dle ttiltemem of profit and loss'

c Dcraaogrltlon:A fina;at [abi[]y Ls der€cognkcd when the obtlgation und€r the llablllty ls dlsciaryed o. canc.lled or erpi.e5. When an eistjnS

financiat flatitity ; replac€d, anothcr from the same lender on rub6rantlalt diff€rent terms, or th. tenns ol .n eisting llabilltY are

substandatv modmed, such an erchange or modi{katlon k treated as th€ derecoSnltlon of the orltln l llabllttY and tie recotnition of

a ney liatility. The d ferEnce in the re5gactive carrylnS amonts b a€cotnis€d ln the sEtetn€nt of plofh or loss.

C Rcd.ssification ol fl,l.rd.l c.E:The Company detrnnin€a chstlfleton ol flnanclal a3seE and llabllltl€a on lnlual recognldon After hruJ r€cognltion, no

reclasificafbn is nr.rdc for linanctal ars€ts wh_rch are aqulty lnstruneot5 and flmnalal lLbllltas Foa llnandal assett whkh are

debt instruments, a redaistfication b made onv lf dleru lr a charyc ln the bu5ln6s nrodal to, manadnS those asseB' ChaoSes to

t "

U,rrin"ur i"r "r" "+..t"a

to b€ t.trequenL The Comp.ny's senlor m.na3.n*nt d"t mdne. chang. h the bu5ln6s mod€l

as a r€&rh oI e(ernat o. l;t€7nat changes urhiah are sEnlfbnt to the Company's op.6don5. It thG Comp.rry realtssmcs 0nancLl

as,9ets, lt apglles thG rccLssmctdon pt6pacttvaty from theardasslflceuon dtte whkh 15 the flrn dtY of drc lmmdLt'lY nelt

regordna perbd folbuing tlE chanSe ln bssln€.s modcl .r p.r lnd AS lol''D ofis.ttl4 of frE|!d.t trsunf,ntl:- r,i"r"tri"*.tr r"a n-nclst ti.blht€s are oftet and thc net amount ls repon€d h the b.lanc!,h€€t f diere 15 a cumntv

enforceabl€ leSal rlght to offs€t thc aecBnl5ad amountt rr$ theE li an lntent on to t?ttla on a n t basls. to r€alLse the .iseB and

sede th. liabllllles slmuhaneoosv.

14 EaminStpcrsll..:- - -- iJJ*.ina, p"r shere are catcutated bv divtdin! the n€t pmftt or to55 lertudint ofier comFehenstve lncomel Ior the year

attribut bb; equity sharehotders by the welsitrcd ave68c number ot aqutty sharas outn ndln6 durlnS the ye.r. The weithted

average number of equlty shares ouEtandhs ;udng the yaar E .dlusted tor evenB such as bonus l$ue. bonus €lement ln a rl8ht

issureitrares sptit and reveEe sha.e 3p t5 lc;nsolld;uon of sharesl thet have chanS€d the number ot equtty shar6 ouEtandin&

with;ut a corr*pondlng change ln resources. For thc purposa of calcuhtinS dllut€d eamlngs per share, the nel profit or loss

lcx(ludintothercomprehenslvelncome|fortheyearattributabletoequltYshareholdersandthewelghtedaveragenumberofihares outstandint during th€ yeat are adirrsted lor the €ffetts ot alldilutlv€ pol€ntlal €qultY 3hate5'

Clrr

441 Page

t.ti

AAWA TRAOII{G ATD EXPORTS UMIIEOItoter lo t}a flnanchl St.t€m€nts

itota: :l'P.oDC,ty, Ph & EqulEnanttunt. ln rls.

lotal

74997

Vehlcl€.

74991

74 99f74 997

7a q97 ,19!r'

4975r6 365

49 75r5 365

551171716

551176715

60 433 50 833

25 2461188014lil

25 24618 88014 1€!4

Y..r Gndcd Ma.ch 3l20112018

4715 6366{716 6 366

Deprcclatlon, amo.tlrrtlon and lmp.lrmanterpent!':Oepr.ciationTotrl' Rcpresents deemad Eost on the date of transltlon to lnd AS Gross block and accu uletGd

depreciation from the pr€rrious GAAP have been dltclosed for the Birpose ot bettar understandinS ofthc ori8lnal con of ass€ts-

A Prop€rty, Phnt and Cquipment:

Gro3s Elock:As at Aprtl 1, 2015'Addlrlon5As at March 31,2017AdditionsAs at Mamn 3L 201a

oepre.btlon.nd lmpelrme.tAr .t Aprll 1, 2Ol5'&predetbn for the year

As at March 31, 2017Deprealation for the year

As at March 31,2018Net Blockl

As at Apdlr,2016'A at March 31,2017As at March 11,2018

ArnL h niAa ar

i{!rd 3L 2017 Ap l l,2015ir.nlt at" 2o1tatsalt:

1454075513 59 088

- 13 59 088

1444900413 59 088

- 13 59 088

1 iut 25 704!, 59 (B8

- 13 59 oS8145 40 755 I 44 49 oO414326704145 40 755 144 49 0(ML4326704

lunr.cu.!d, Conrllcild Goodltoans and advance6 to panle5 other than relat€d panles

Consldercd GoodCon.ldered Doubtful

Less : Provlslon for Doubtful advanc€5

Tot l

Itota: $Asart foa ClErnt Tax2 24 816a5/|o42 219 5672 24 4163 54 0ir2 279 567

Advance payment of TarTotll

ota: ff th lnd C.$ Equlvlbntrr1 24 840

6188153993

8 948167 611

3 954131024 172 941171S55

8al.nces with Banlr in Currcnl AccountsCash on H.ndTotal

flota: Totlita Cuaacnt At6atr:

20 000r 282

,0m2 419

20 (m{ 563

2a663 27 282/2 425

tunsaorEd, Condd.]ld coodlAdvdnces to slrppllenPr€pald Ep€ns€.Tot!l -

d r5

451 Page

ai:

AASWA TRADING AND EXPORTS UMTTED

Notas to thc FlmrlcLl StltamGntsamL h ns.

As atMardr 31. 2017 Aorll1.2016M.rdr 3L 2018

Not : &€qultY Shrr! CICEI:

75 qt mo TSmmo 75 @qD

75 m fi)O Tsmmo 75@m0

72 00 mo,2m(m 72 m 000

7?mm 72mOm72m0m

7 20Un 7200@,2000J

7 z,JlJm

41292060,13*

50 600&a2x

7 20 (x)0

4 3292060.13%

60 6m4.42*

7 20 000

4 32 92060.13%

50 6008,4tX

Autho.brd C.pltrl:7,$,m Equlty St.r6 of n5- 1o/- cach

I As at 31/03/2017 7,5o,(rc Equity 5ha.6as at 01/0412015 7,5o,mo Equity Share3 |

lssu6d, Subi.rlb.d and Prld-up:Z2O,m Equlty Sh...s of R.. 10/- !ed!, tully pEld-up

I As at 3r/03/2017 7,2O,m Equity Sha.e5As ar01/0{./20767,zO,W Equit Shares I

TotalA Th€ reconrillation in number of shar€5 ls as unde.:

Numbcr of sh.rei.t the beSlnnint of the yearAdd: lssued durl4 the yeirNumber of shares at the end of the year

B Details of Shareholder holdlnS more than 5* oI aggrqare Equity Shar€s ot ll,{R 10/.each, fully paid:

1 ShefiliC. ParikhNumber oI Shares

'6 to total rhare holding

2 Uttar. PadlhNumber of 5ha.e596 lo total rha.e holding

REhtr ol tqutty Shrra holdcr.(a) Holder of equity share5 is entltled to one vote per share,

lbl Th€ ComDanv declares and ortls dividends ln hdlan Ruoees. fhe ComD.nlei AcL 2013 p.Dvidca d€t d|e Oivldcnd shall b€ d€clarcd only

out of the orofits of the rEl€vant vear or out of tie piof,ts of arw D.6rlous flnanclal v€arls) aher Drovldlnr ,o, deDreciatlon ln accordanc€

whh the Drovisions of lhe Act and tie Comoorry may transfer such Dercentate of lts Drofrts for lhat finanoal year as lt mav conslder

approprlate to dle resewes ot the companY.lcl tn ca3e ot tnadeouacv or ab6€n e of grEfits ln any vear, the Companv mav declarc dividlnd out oI lr6c .aaefles subiecf to th6 mndiuon

that the rstc of dtvtdlnd shallnoterceed averar€ of the ratc6 et whlch dlvldcnd was declared tY the ComDaIw ln lhree yaa6

lmmadlatch or€cedl drat war.{d) tnth.ar€ of tlquidation of the ComD.ny, thc holde.s ol shsr€. shall bc .ndd€d to recelvelhe remainlng assets of the ComDanv, after

dlsrrtbutlon of all oreferential emounts. The amount dinnbut€d wlll be h DrDlortlon to the number of eauiw sharcs held bv the

Amt. ln Rr.As at

M.rch31,20l! March 31,2017l{otc: gathc. Eoulw:

75 5t 896- 34 265

75 85 05182845

7534631 76 58 89575 34 531 75 58 895

Rctaln€d Eimlngs:Balanae as per last Balana€ Sh€€tAdd: Profly'(Loss) Ior the yearEalance as rt the erd ot the year

Totrl

l{ot!: lo{Ur!. Rnrnd.l lLbl0tlE [l{on Orrntl:ls &t2 s 27415ltit 5 271

S€orrity OeposhsTot3l

Not : iarrorrLiorB lt{on cilJt ntl:

29 8052q 806

Prorblon fo. ElnploFc BcactltjforGratuity

Total

tlot : 12oth.. tll.nd.l uatlld.. lQr.rcntl3a 2a4 !0101 6 443

/to tot 65 a433A 2atUnp.ld E4ense.Tot l

ilota: l3.ProvBlonr [GrrE itl

t0l5',852

303s4 407951015:I 31216 40 795

Provbbn fo. Empbyrc BcmlltjForGratlrityFor Leave Enaaihmant

Tot l

Not!: l/EurrlntT.r tleumh3 [{etl:19 5@19 6m

Provlrlon for TaratlonTot!l

thc crtcnt rotContlt nt tLbuhh5

Cofinltmcnt

NII.

[,

NIL

N -

N .

NIL

---

E

461 Pag OA

AA9WA IMDII{G AND qPOiNi UMrtEDl{otlr to th. Financlal Stat.mcntt

Anrt. in Rs.

Ye.. cnded Marah 3lzolS 2017

llol!: lHa/tnu! fum oD€ratbnr27a 2t6a, 5 15 /O 7942r?21E&t 5 15 40 7911

sale of ProdudsloEl

Not : lTotherln omr:

13 05 9428 884

t0 39 944I02tt

10 4' 969 815425

lntereat Eamed:lnterBt lncome on EinancialArs€E measurad at Amonbed Con

Mlscellan€ous incomeTotal

t{ote: l&Purchasesof Stocl-in-Trad€r27t tt srs 5 15 26 70127114 978 515 26 701

Purch.ses of Stod-ln-TradeTotal

Ilota: lg{molovee Ecnafts ErEns575 551

23750595997

53 069s!t!t-?ot 7so066

S6lartes and wa8eJ

SEff wclf.r€ GxpensesTotrl

xota: 2oothcr Ep.r|s i10 030

80010t 2tx2 8' 500xrw54 3lX)

8 81724m

I 12 0312 29 0oO

23 25495 540

/186 {01 171042

11845 1150111 S002! OO111845

Rates and Taxei ld.ludlng Ecs on income)l-e8al and Prcis3lonal F€!5Ustlnt fe6

M isEellencous Eioense. l'trotal

['l Miscellan€ous Expenses krclude:

[al Payment to the St tutory Audhors texcludlnt s€rvlce Tarl- As Auditor- Forother Se lces- fotal

l{ota: 21- Tar ErDGrac$:

19 500

19 6d)

19 6tD

(34,34s)

18,149(3,013)

l45,/,2l19,600

102 {4530.90*31655

{12,056}19,600

Deferred lar:Relating to oriSination and reversal ol Emporary dlfferenaes

Total Tar epenr€ repo(ed in the stattme of protft or h6s

OClSeclion:Tax related to llems recognised ln ocl during ln the year:

Net loss/ (tain) on remeasuremcnts of defined b€nefit plans

Tax charSed to OCI

B Reconciliatlon oftar etpense and rccountln8 proflt multlplled bV lndia's dom6tc tax ratc:Prow(Lossl b€fore taxEnacted Tax Rate in lndia (%)

beected Tax E4ens€s

Adiustnena focEff€ct of noGdedu.ribl€ €xpensGEffe(l of ddhbn l d€dudrons ln tuabl€ incomeEff€ct ol unutills€d busin€55 loss.a now utilts€dEffect of MAT Credit .v.ll.bJ€ on wlrkh d€fered tar a$et is rlot cneatdTobl

Tar ErFns€a as pcr Sbtlm€nt ol Proflt and Lo6t

Tha maior components of incom€ trx exp€ns€ araA stiternent o, ploflt and 1065:

Profit or loss section:Cun€nt lncome tar:

Crirent iMome tax chargeTar adiustment for earlier Year

t{oti: 22:C.k[hlon ot Eaminaa D.r Equltv Sh.r. IEPS

. 34 2657 20 0oo

1000(0.05)

82 8457 20 000

10.000.12

The numeratoE and denomlnato,s us€d to celculate tha taslc and dlluted EPs are as followsA Pmfiv(Ioss) attdbutable to ShareholdersI AveraSe numbef o{ Equlty shares ouBttndhs durlng the year

C NomlnalvaluG oI equlty shereD Beslc & Dlluted tPS

INRllumbclt

INRINR

-

--

s

c

471 Page

ll

AASWA IRADING AND EXPORI:; LIMITED

llotes to the FlnancLl StatemcntsI{ote: 23 - Defe.red T6r:

A Break up ol D€fenEd Tar liabilities and Assets into major components oI the respedive balanaes are as under

Deferred Tax Assets:

€mploye€ benetits/ Palable to Statutory Authoritiet

Eusiness Loss

Unab6orbed depreciationTotal

Net Oel€r€d Tax Ars€ts

Si8nifi(.nt Estimates :

As regards deferred tax as per lnd AS-12 on 'lncome Tates' there is a net defened t x asset ,or the pan years and foa the perlod up ro 31st Ma

2018.

3 0002 518

- 31656

244,737948

Tl.,JEf) 2 27 428FrI:XIl

Ar atM.rch 31ffiffi

3 2394 031

3 55018 855

- 550- 16 238

31114 825

- 46 792

March 31April ICharge for

the previous

z 37 9451944

219 ort2797

18932449

Note: 24-Seement lnfofil.don:The compa.ry has onv one revenue segment - tradinS of colton fabncs. Heficq seSment reportinE is not applicable as per lnd AS - 1OB onop€rdting setment.

Notc: 2s-SElatad Partv Trensadbn$

As per the lndian Arcounung Standard on "Relat€d Party Disclosures' (lnd AS 24), the related panies ot the Company.rc as followsa l{.me of th. RcLtrd P.rtl.s .nd llaturc of the RelaEd Party Relatlonship:

Key Managem€nt PersonalMr. anish a. Shah - Director Mr. thavesh G. Shah - DirectorMr. Xeyurl. Parlkh - Director Mrs. aathini a. Shah - Dire.tor

Entc.Drb6 shflcantly lllflucnc.d by oirecto.! and/or thelr rEbtiv€r:(rupa Pdnters AmaniIrddint and €xports [td.

Pcrson havlng 3lgnlkEnt cont ol:shefall C- Parlkh

OtheIsYear ended March 3l

2014 2017B Diralosurc ln rqrp.ct ot R€htad Party Transactlons

12 000 12 00012 m0 12 000

Nature of TransacuonsElpanl.5

Xrupa PrintersTotal

ffi

-I:9EEl-7rtr1

$. 5'

Cl'i

1

c ACI:

481 Page

AASWA InADING AND E(POTIS UMITEDNotls to tha Flnanclal statamant5

Note:A Fai hia6rchy:

Flnancial assets and flnami5l llabllldes measured at falr value In th. statement of tlnanclal posltlon are &ouped lnto thre! l,.vels oI a

fair value hrerarctry, The th.ee tevels..€ denned based on the ob6ervablllty of sltnlllcent lnputs to the measurom.nt as follows:Levell: quoted price! [unadjunedl ln acttue marfteB for flnanclal lnstruments.Levet2: The fatr value of flmnclal lnstruments that are not traded ln an acUve marlet rs delermlned uslry valuatlon l€chnlquc.t hlch

maximis€the use of obseo"ble marketdata rely a5llttleas posslble on entltv spacm€ €stlmatdLevet3r tfon€ or mor€ oft,leslSnlflcant InpuB is not based on obsarvable markct data, the lnttruhent ls hclud€d ln level3

3 Flnandal assets and ll.bllltLs maasu ,alr t/aftr€ - tdlrvalua naaruAmL Rs.

at 2018n ITAT' Total

Finanafil a3rats:Ion Current Other FinanclalAsseECarh .nd cash EquvalentsOther Cunent ,ssetsIotal

143 26 7UI 71 555

22129

143 26 tU17r S55

Flnsn.hl lhbllhbtOther llon Cunent finemial LiabilhiesOther Cu.rena FlnancLl tiibllhlesIOTAI

15 82238 284

l5 tz38 2arr

.t March 31, 2017

EE n L.r/rl3Fll.rlcial6et*

Non Cuneot olher Finandal Assets

c-ash and c.sh Equiv'.l€nGother Cunent AssettToEl

145 40 755131028

2a 63

I irs lo r55131OU

24 6d'

nnafttul l&rblEthsOther Non Cunent Flnandal tiirbilft€5orlEr cufl€nt tinan lel LhbllldesTot l

527440101

5,rc

A5.lIEIn tl EEE Tota

Fhancbl atratt:Non Curr€rn Other Flnanclal asseBc€sh and Cash EqutvalentsOther CunEnt AsetsTor.l

r4449m1172941

I il4 t9 0{L72t,.l

212472124

fuiad.l lLblltd..Other Non CunErt Financlel Liabiliti€3Other Currcnt Fi&nclal LlabllitresIot l

6 441

EEEI!lErrEum

-

EE

E- -f.Errlli

- --

IrtSrIrtfirl rENTI

--

rEf,fli

IrFnrrI?lErl IIl TI

-

_E

IIF:IIT']i5IT

E

tl. s

ch

e

491 Page

AASWA TMDING Ar{D €XPORTs IIMITEOilotes lo th€ Flnanchl Statem€nts

Nota: z7-Flnandal nbk MamElmcnt:A Finanalal lnst umenB

atFVTPL FVOO Anoatlsed Total

Financial assets:Non CuIrent Other Flnancial Asre6Cash and cash EquivalenBOther Curent ArsetsTotal

L4326 L 412670tt171555

22429171555

22 429

EhanEi.l lhulitl.sOther Non Curent Fhanclal LiabllitiesOther Cu rrent Fln.ncial tiabllitlesTotal

ls 822 153t 294

A5 at M.Ich mflfvIPt woo

Fitlrncbl !ar6t':Non Cunent Other Financial Assets

C.ash afld Ca5h EquivalentsOther Current AssetjTotal

145 40 7551 31 028

24 653

145 /l,() 755I lt 02ta56'

Flnanchl liabilithiOther Non Current Financial l-iabilitiesOther Currenl Financial LiabilitiesTotal

s 27440101

s 274101

As atFVIPT noo AmortE.d Total

Flnanclal as€ts:Non Current Other Flnancial Assets

Cash and C.sh EqulvalentsOther Cuarent AssetsTotal

144 49 @4171961

21282

I rr4 t9 00d112 9it1ll 282

Flnancbl [abllth.Other )lon C!.rent Flmnclal tiabilhie'Other CuryEnt Fln.nclal LlabllltlesTotal

56 443 56 443

-!l

Cn

ot

501 Page

AASWA If,ADII{G AXD E(iORTS UMIIE,Note5 to the FlrEnclal Slrlements

Note 27+lnandal Rllk ManaremeoE{ortinued:B RIsl Man.gomentr

The Comparvs actlvltles erpose lt to marlet risk,liquidity risk, interest nrkand creditrisk, This notecxplainsth€ sourcesof risk whichthe entity is exposed to and how the emity manaSes rhe risk and the related impad In the financial statemenE.The Risk Managemmt is emb€dded in the company's operaung framework. The A.dn Commlttee of th€ Board evaluates lhe RIsk

Management systems and the Board tak€s responsibility for the total process of Risk Mana8em€nt in the or&nlzation, which lncludesframio& impl€menting and monitorinA Eisk Manatem€nt Plan.The C.mpany does not actively en8a$ in the tradint of financlal assets for specli lative purposes nor doe5 it write options.

The most signlflcanl llnEncial risks to which the Company Is exposed are deacrlbed belowi

C.Edit risk arises from the possibllity that customer may not b€ able to scttl€ its obligations aE atreed. The comprny is erposed tocredit risk from trad€ r€ceivables, and other Iinancial assets.The Comparry perlodically assesses the linancial reliability of the counter pany taklnB into account the fln.nclal condition, currenteconomic trends, analysis oI historical bad debts and rgcing of accounts recelyable. Pany-wlse E edh i5 monilored and revlewed

Bank depositr :

The company maintainr lts Cash .nd clsh €quivalenti and B.nk depo.its wlth reputed and hlthly r.ted brnk Hanc€, there ls nolitnirlcant Gredn risk on soch deposiB.

Trdde Reaelvable:The Company is e4osed to credit risk in the event of non-payment by customels.fhe Company tGdes with reEotnized and credit wonhy customers. lt lt tfie Crmpany's pollcy that all custom€E who wishto trade on credit terms ene subiected to rcrutjny and periodic review.ln addition, re€eivable talanoe5 are rnonltored on an on-golng basis,

b Uquidity dsk:a tiquidity d5l is the dsk that the Compary may not be able to meet tts present and future cash and colhteral obligations without

incunint unacceptable losses-b Management monitors rolling ,orecasts oI the Company's liquidity position and cash and cash equlvahnts on the basis of expect€d

cash flows. The Compeny rakes lnto account rhe liquldity of the martet ln which the entity ope6tes. ln addltlon, the CompaMsliquidity manaleflent pollcy involvg considering the level ot llquid assets necessary to meet these.

( Maturities of flnancial liabilities:Thetables below anilyse the Company's finanEi.l llabllides into relevsnt maturity troupings besed on their contractualmaturltl€s for 3ll nonderfuatlve flnanclal llabllltles.

AML<t 1-2 EE Erl tlTTII

at

Other non qrnent flnrncial llabllitiesOther drnent llnancial llabllitlesTotrl

15 82r l538 284

As at 31,2017

Other non cu rent flnancial llabllitiesOther current fl nancial llabllitiesTot l

5274 5 2744010140101

Ai ot 2015

Other non q/rrent finandal liabllitiesOther cun€nt fhanci.l llabllldesTotal

u14€

-Er?ErEgrln -riEr

-ErtA-E-1t13

t",\. s

511 Page

AASWA IMDING AI{D E(PORTS UMITEDNotlr to thr tllrlncbl Strtcmcnts

I

Nel debE

i&t debt to equlty ratlootalequity I il8 L 631 118 58 895 147 86 ost

The Company' s caphal rnanaSement objectlve3 are:a to ensure the Company's abjllty to continue as a toinS concemb to provide an ad€quate rEturn to shareholdersc malatain an opdmal capltal st ucture to reduce the cost oI c.pl6l,

Management assess€s the Compeny's capltel requirements ln ordea to malntaln an elflclent oveEll flnanclng sttudure whlle evoldinge&essive leveGte. This takc6 lnto account the suhordlnrtlon levals ol the Companfs varlous chsses of de'bt. The Company manates thecapital structure .nd makes adiustmentr to lt ln ttle lltht of chan8es ln econornlc aDndltloni and the alsk charactednks of the underlylng

Noter 29 Flrst TlmcThe accountint polici€. s€t out ln the note here have teen applled ln preparlnt the Rn..rlal statements loa tha yaar anded March 31, 2018,

the compa6uve lnforDati,on pr€5ented in these flnancial stetements for the year €nded March 31, 2017 end ln the paepa6tton of an openlntlnd AS balanc€ rheEt a5 rt April l, 2016 lthe Compan/s date of transldonl.ln pr.parhS rr5 openinS lnd AS balance sheeL the Company hes adjusted the amounts reponed prevloutly ln tln ndal statements preFred in

accordance with the accountiB nandards notfld unde. Comganies lAccountins Stand..dsl Rules, 2m6 las amend€d) end other relevantprovirbns ot thc Act [prevlous GAAP]. An expl.nation of how thc tinsition from pr€vlour GaAP to lnd AS h.5 aff€ctecl the Company'sfinancial position and fimncial pefornance b set outin Note 30.&€mptlons 8od craEptlons avalhd:set out bclos .]! thc .pplklbl. lnd AS lO1 ogtlon l crcmptlon. .nd ntnd.to.y .rc.ptbnr .pp[Gd ln lic tr.n5ltloa lron Pr.vbusGAAP to lnd AS.A fr€€m€d cott:

rnd AS 101 p.rrnlts 3 f,rst-dmc adopt r to eh<t to cofltirur wlth tlE G.rylng v.lue for.ll of lB propcrty, pl.nt..d .qulgn€$t.srecognised in the financlrl st temefiB as at the date ol transldon to lnd as, maatured as per l,te prevlous GAAP 3nd u5e tiat as iBde€m€d cost as at the date ol tr.nsltl,on .fter maklng neft3srry rdluirn€nB .equlred und€r othcr lnd AS. Thb gempdon @n aho be

ns€d fo. intanglble Gsets covercd by lnd AS 38 'htanglble A$eti'.A(ordingly, thc Comp.ny h6 electld to measur€ all of lE p.opany, plant and equlpment and lnbndble ast€6 at thelt prEvlous GAA?(anYin8values.

B ErtinBtcr:An mtit/s estimate5 in accordance srith tnd ASs at th€ date of transition to lnd AS shall be conabitent whh estlmat€s made ior the same

date in acaodance wldr paevlous GAAP {rfter dlusnn€nts to ,eflect any dfference ln accoqnun8 polldesl, unless there it obiecllveevid€nce that tlEs€ esdmater w€r€ in error.lnd AS 6dnrate5 as at ap.il 1, 2016 arc consiatent w-nh th€ €5umat!5 ds at dr€ sanle dlta mada ln conioamtty wtti pt6,los5 GMp.

C Oa$lffcatbn of ft|.nd.l .5r.t5:fu p€a tha reqlkernents of lnd AS 1O1 the Compa.ry essessed chssmcdon of fina.Elat ass€ts on thr baslt of tha facts and

circumstancea that edst at the date ot transldon to lnd A5,

O [r.-r..o8nltbn ol frErlal.l aataB.nd lhbl[tl.t:tnd AS 1Ol requtr€. a fiEt-tlme adopter to appt the dHecognltlon proylslons of hd AS 109 prospect vely for tr.nsrcllon9 ocrurrlnS on orafter th€ dat€ o, trantitlon to tnd AS. IIle company has follow€d such pollcy, Howaer, there wer€ no ais€ts or llabllltlei to be d€recotnised

E Tr.nddon ta lnd 19 R.cordfi.dons:Ilpre is no chenge ln net profit or (16r) reponed ln acaordance with Prarloirs GAAP to tot l comprehanslve lncome ln accordance withtnd AS for th€ quaner .nd year end€d March 31, 2017- Also, ther. B no ch5n8. h Equlty as on 31st M.Gh, 2017 as prevlouslY repordunder p.6dous GAAP to hd AS. Hence no Trcondllation is tequked to be pr€aented ln tlther mattals.

n vlth Pr.vloua GAAP:taot :There b no clrrnSe ln net p.of,t or (lossl repoaed In acaordanEe wlth Prwlols GAAP to total comgrehanslve lncome ln accoadance wlti lnd

aS tor th€ quarter and year ended March 31, 2017. Aho, there ls no ch.nge ln Equlty as on 31n MaEh.2017 6s prevlousv .epo(ed underin either matteas.s 6AAP to lnd AS. Henct no reconclllatlon h

c1

rn.rs

Ahmedabid, Dated: May 29, 2018

dPq,aL

's, ortlto"'1tGOlrector COI

(Xeyu.J. P.rlkh

'flp: oatAqft)Chalrpe6o

ahmedab.d, D.ted: Mey 29, 2018Memb..shlp Number: 102551

As oer our reoo( of evcn dar€For Muk€5h M.sluh & Co.,

Chartered AacdrntanEFim Regiri6tion Numb€r 106,525w

Nar€.h L P6jap.dCompany Secrctary

Nltln t. thawarChlef FhanclalOfllcer

#,SPartner

rItt?!:Erf,Iirr,r] ]llErrtir5rElElElil

521 Page

I hereby record my presence at the 33d Annual General Meeting of the Company held at the

Registered Office oi the Company at 32, Milan PaIk,S-ociety Nr -Jawahar

Chowk, Maninagar,

Ahiledabad - 380 OoB on Thursday, September 27, 2018 at 11 00 a m

Form MGT-I1Proxy Form

(pu6uant to section 105(6) of the companies Act,2ol3and rute '19(3) of the companies' (Management and Administration) Rules,2014)

AASWA TRADING AND EXPORTS LIMITEDRegd. Office: 32, Milan Park Society,

Nr. Jawahar chowk, Maninagar'Ahmedabad - 380 008

CIN: L51 1 00GJl 984PLCO?4704Website: www.a aswatradino.in

ATTENDANCE SLIP

I certify that I am registered shareho lder/proxy for the regi stered shareholder of the comPanY

l/we being the member(s) of shares of the above named company' hereby

aPPoint1 . NameAddressemail ldOr failing him Signature

Folio No./DP lD/Client ldNo. of Shares held

ln Block LetterName of the Shareholder S

Si nature of the Shareholder sln BlockName of P

Signature of ProxyNote: You are uested to si n and handover this sli at the entrance of the meetin venue

151 1 00GJ I 984P1C0247 04crNET DRPO ST IL MNI DN xESWAA TR DName of the Com n

32, Milan Park Society,Nr. Jawahar Chowk, Maninagar,Ahmedabad - 380 008

Registered Office

Name of the Member S

istered AddressR

Email lDFolio No./Client lD/DP lD

2. NameAddressemail ldOr failing him

-

Signature

3. NameAddressemail ldOr failing him

-

Signature

as my/our proxy to attend and vote (on a poll) for me/us and on my/ouI behalf at th^e.33'd

Annuit Generai Meeting of the company, to be hetd on Thursday, september 27, 2018 at

1 1.OO a.m.. at the Regi;tered Office of the Company at 32, Milan Park Society, Nr' Jawahar

chowk, Maninagar, A-hmedabad - 380 008 and any adjournment thereof in respect of such

resolutions as are indicated below:

531 Page

Pffiff*ffidited Financial statements of the companv as on March 31' 2018'

, [?Effig"ffi::iXll]rs. aasrrini A Shah' Director' rctirins bv rotation and beine elisible

otferinq herself for re-appolntment (Ordinary Resolution)

3 Modifiiation to tne nesliuiil'-;;,t;i 'L--rppoint."nt of statutory Auditor'

(Ordinary Resolutlon)

signed this

-

daY ol

-

2018

Affix a I

R€,

RevenueStunp

Signature of Shareholder

ili;:il;t fil o'f proxy in-orcler to be effective sho

ii"ii"gi;i.,;J offic" of the companv' Not less thanuld be duly completed and deposited at-a-A

noroi"tor" the commencement of

the Meeting

lf u ndelivered:Please return to:iiliva-inaonc AND ExPoRrs LlMlrED

CIN: 151 1 00GJ 1 984PLC0247 04

32. Milan Park Society'Nr. Jawahar Chowk, Maninagar'

Ahmedabad - 380 008

541 Page

ROUTE MAP TO THE VENUE OF ANNUAL GENERAL MEETING

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aaswa trading and exports ltd....aaswa trading and exports ltd.regd. office : 32, milanpark society,...

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