BABA JETBLACK PRIVATE LIMITED

(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)

BALANCE SHEET AS AT 31ST MARCH 2016

Note For the end For the end of

No. of current previous
Particulars reporting reporting
period 2016 period 2015

1 2 3
I. EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital A 101,000 101,000
(b) Reserves and surplus B 707,282 304,897
(c) Money received against share Application - -
(d) Money received against share warrants - -
2 Share application money pending allotment - -
3 Non-current liabilities
(a) Long-term borrowings C - -
(b) Deferred tax liabilities (Net) - -
(c) Other Long term liabilities - -
(d) Long-term provisions - -
4 Current liabilities
(a) Short-term borrowings D 13,138,837 6,446,454
(b) Trade payables E 8,027,401 4,575,533
(c) Other current liabilities - -
(d) Short-term provisions F 1,595,491 593,185
TOTAL 23,570,012 12,021,070
II. ASSETS
Non-current assets
1 (a) Fixed assets
(i) Tangible assets G 101,419 136,849
(ii) Intangible assets - -
(iii) Capital work-in-progress - -
(b) Non-current investments - -
(c) Deferred tax assets (net) - -
(d) Long-term loans and advances H 101,000 101,000
(e) Other non-current assets - -
2 Current assets
(a) Current investments - -
(b) Inventories I 6,451,500 2,049,533
(c) Trade receivables J 16,779,127 9,380,025
(d) Cash and cash equivalents K 136,966 294,614
(e) Other current assets L - 59,049
(e) Short-term loans and advances M - -
TOTAL 23,570,012 12,021,070 0 -

As per our Audit Report of even date

for BHANDARI PINCHA & SURANA for BABA JETBLACK PRIVATE LIMITED
Chartered Accountants
FRN No. 010811S

(Mukesh Surana)
Partner Director Director
Membership No. 077745

Place: Bangalore
Date : 25/04/2016
 BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED ON 31ST MARCH 2016

Refer For the end of For the end of

Note No. current reporting previous
Particulars period 2016 reporting period
2015

I. Revenue from operations O 47,655,659 11,690,038

II. Other income P 255,220 146,389

III. Total Revenue (I + II) 47,910,879 11,836,427

IV. Expenses:
Cost of materials consumed Q 45,326,079 11,171,223
Purchases of Stock-in-Trade -
Changes in inventories of finished goods work-in-progress and
Stock-in-Trade R (4,401,967) (2,049,533)
Employee benefits expense S 800,000 714,480
Finance costs T 714,975 12,490
Depreciation and amortization expense 35,430 18,191
Direct Expenses U 3,530,920 976,242
Other expenses V 1,304,867 556,631

Total expenses 47,310,304 11,399,724

Profit before exceptional and extraordinary items and tax
V. (III-IV) 600,575 436,703
VI. Exceptional items - -
VII. Profit before extraordinary items and tax (V - VI) 600,575 436,703
VIII. Extraordinary Items - -
IX. Profit before tax (VII- VIII) 600,575 436,703
X Tax expense:
(1) Current tax 198,190 154,810
(2) Deferred tax - -
Profit (Loss) for the period from continuing operations (VII-
XI VIII) 402,385 281,893
XII Profit/(loss) from discontinuing operations - -
XIII Tax expense of discontinuing operations - -
Profit/(loss) from Discontinuing operations (after tax) (XII-
XIV XIII) - -
XV Profit (Loss) for the period (XI + XIV) 402,385 281,893
XVI Earnings per equity share:
(1) Basic 39.84 27.91
(2) Diluted 39.84 27.91

As per our Audit Report of even date

for BHANDARI PINCHA & SURANA for BABA JETBLACK PRIVATE LIMITED
Chartered Accountants
FRN No. 010811S

(Mukesh Surana)
Partner Director Director
Membership No. 077745

Place: Bangalore
Date : 25/04/2016
 BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
NOTES TO ACCOUNTS FOR THE BALANCE SHEET

For the end

For the end Current
Note Current reporting
Particulars reporting period on
No. period on 31st
31st March 2016
March 2015

A Share Capital
(a) Authorized Capital
Number of Shares 11,000 11,000
Amount of Share Capital 110,000 110,000
(b) the number of shares issued, subscribed and fully paid, and
subscribed but not fully paid;
Number of Shares Issued 10,100 10,100
Number of Shares Subscribed 10,100 10,100
Number of Shares Fully Paid 10,100 10,100
(c) par value per share; 10 10
(d) a reconciliation of the number of shares outstanding at the
beginning and at the end of the period;
Opening Balances of Shares 10,100 10,100
Closing Balance 10,100 10,100
(e) shares in the company held by any shareholder holding more
than 5 percent shares;
Mr. Sunil Goyal 5,000 5,000
Mr. Pradeep Goyal 5,000 5,000
Mr. R.K.Agarwal 100 100

B Reserves and Surplus

a. Securities Premium Account
Opening Balance -
Add : Securities premium credited on Share issue -
Less : Premium Utilised for various reasons
Premium on Redemption of Debentures -
For Issuing Bonus Shares -
Closing Balance -
b. Surplus
Opening balance 304,897 23,004
(+) Net Profit/(Net Loss) For the current year 402,385 281,893
(+/-) Transfer from/ to Reserves
Closing Balance 707,282 304,897
Grand Total 707,282 304,897
C Long Term Borrowings
Secured
(a) Term loans
From Bank - -
- -
Unsecured - -

- -
- -
In case of continuing default as on the balance sheet date in repayment of
loans and interest with respect to (b) (e) & (g)
1. Period of default NIL NIL
2. Amount NIL NIL
D Short Term Borrowings
a) Secured
From State Bank of Patiala - Cash Credit 5,500,397 5,996,454
b) Unsecured
Other loans and advances
a) Sunil Goel (Director) 1,748,440 350,000
b) Pradeep Goyal 5,890,000 -
(of the above, Full value is guaranteed by Directors)
b) Other Received 100,000

Total 13,138,837 6,446,454

In case of continuing default as on the balance sheet date in repayment of
loans and interest with respect to (a) (b) & (d)
1. Period of default -
2. Amount -
Total -
E Trade payables
Trade payables - Outside Parties 8,027,401 4,575,533
Trade payables -Subsidiary - -
Total 8,027,401 4,575,533
F Short Term Provisions
(a) Provision for employee benefits
Salary & Reimbursements -
(b) Others (Specify nature)
Audit Fees 30,000 23,500
Director Current A/c ( Sunil Goel ) 400,000 200,000
Director Current A/c ( Pradeep Goel ) 400,000 200,000
Income Tax Provision (TDS) 220,221 161,685
VAT Payable 545,270 8,000
Total 1,595,491 593,185
H Long Term Loans and Advances
a. Security Deposits
Secured, considered good 101,000 101,000
Unsecured, considered good
Doubtful - -
Less: Provision for doubtful deposits - -
Total 101,000 101,000
I Inventories
a. Raw Materials and components (Valued at Lower of cost or NRV) -
Goods-in transit -
-
b. Finished goods (Valued at lower of Cost or NRV) 6,451,500 2,049,533
Goods-in transit -
6,451,500 2,049,533
Total 6,451,500 2,049,533
J Trade Receivables
Trade receivables outstanding for a period less than six months from the date
they are due for payment
Secured, considered good -
Unsecured, considered good 16,779,127 9,380,025
Unsecured, considered doubtful -
Less: Provision for doubtful debts -
Trade receivables outstanding for a period exceeding six months -
Less: Provision for doubtful trade receivables -
16,779,127 9,380,025
 Trade receivables are dues in respect of goods sold or services
rendered in the normal course of business.
Note: Trade receivables include debts due from:
(Firm under same management) -

K Cash and cash equivalents

a. Balances with banks* 13,628 15,659
b. Cash on hand* 123,338 278,955
Total 136,966 294,614
L Other Current Assets
VAT receivables -
Total -
M Short-term loans and advances
a. Security Deposits

b.Others (Advance to suppliers)

Secured, considered good -
Unsecured, considered good -
Doubtful -
Others -
Total - -
N Contingent liabilities and commitments (to the extent not provided for)
(i) Contingent Liabilities
(a) Claims against the company not acknowledged as debt -
(b) Guarantees -
(c) Other money for which the company is contingently liable -
-
(ii) Commitments
(a) Estimated amount of contracts remaining to be executed on capital
account and not provided for -
(b) Uncalled liability on shares andd other investments partly paid -
(c) Other commitments (specify nature) -
-
 BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
NOTES TO ACCOUNTS FOR PROFIT AND LOSS STATEMENT
(Amount in Rs. )
For the end
For the end
Current
Note Current reporting
Particulars reporting period
No. period on 31st
on 31st March
March 2016
2015
O Revenue From operation
Sale of products 47,655,659 11,690,038
Other operating revenues
Total 47,655,659 11,690,038

P Other Income
Other Income -
Duty Drawback 198,763 10,675
Forex Gain/Loss 56,457 135,714
255,220 146,389

Q Cost of Material Consumed

RAW MATERIALS
Opening Stock 2,049,533 -
Add: Purchases 45,326,079 11,171,223
47,375,612 11,171,223
Less: Closing stock 6,451,500 -
Consumed during the year 40,924,112 11,171,223
Changes in inventories of finished goods work-in-progress
R and Stock-in-Trade
(a) Openig Stock 2,049,533 -
(b) Closing Stock 6,451,500 2,049,533
(4,401,967) (2,049,533)
S Employee Benefits Expense
(a) Salaries and incentives 800,000 714,480
(b) Staff welfare expenses - -
Total 800,000 714,480
T Finance Costs
Interest expense
On CC A/c 711,152
Interest 3,823 12,490
Total 714,975 12,490
U Direct Expenses
a) Transporation Charges 1,052,584 530,887
b) Exports Transporation 2,058,266 402,505
b) Loading & Unloading Charges 420,070 42,850
3,530,920 976,242
V Other Expenses
a) Rent 89,000 72,000
b) Accounting Charges 120,000 12,000
c) Audit Fees 30,000 20,000
d) Bank Charges 65,775 81,291
e) Office Expenses 84,508 129,618
f) Conveyance and Travelling 326,649 133,076
g) Telephone Charegs 50,083 6,560
h) Advertisiment & Business Development 257,285 99,546
i) Printing & Stationery 9,900 2,540
j) Insurance Expenses 64,069 -
k) Postage & Courier Expenses 37,338 -
l) Electricity Expenses 13,992 -
m) Other Expenes 156,268 -
1,304,867 556,631
 BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
SCHEDULES FORMING PART OF THE NOTES TO ACCOUNTS FOR BALANCE SHEET

For the Current

Particulars Note No.
reporting period
LIST OF CREDITORS:- E
Diamond Shipping Agencies Pvt Ltd 44,779
Globus Logisys Pvt Ltd 93,380
Govind Granites 138,869
Happy Granite 352,207
Lovely Granite & Marble 170,157
Madura Meenakshi Granite Industries 836,192
Nakoda Plast 489,139
Praksah Marbles 250,000
Prem Marbles Pvt Ltd 935,294
R K marble Pvt Ltd 2,009,493
SPM Marble Pvt Ltd 938,089
Sri Lakshmi Sai Granite 44,915
Star Granite Pvt Ltd 760,208
Tanishq Marbles & Granite 188,000
Unique Granites & Marbles 362,661
Venkatramana granites 414,018
Total 8,027,401
LIST OF SECURITY DEPOSITS: H
Land Deposit 96,000
Sales Tax Deposit 5,000
Total 101,000
LIST OF SUNDRY DEBTORS: J
-Debts outstanding less than six months
A One Marble 428,460
Baba Stones 1,289,048
Bhuvana Infra Projects Pvt Ltd 316,506
Chitradurga Ispat Pvt Ltd 500,000
Cicon Engineers Pvt Ltd 214,755
Divya Exports 953,242
El Serag For Marble & Granite 1,621,807
Impala Sp Z O O 487,881
International Grani Marmo Pvt Ltd 415,016
Jainson Granite & Marmo Real Pvt Ltd 25,900
Janitha Exports 340,592
Jeongwoo S & T 2,534,367
J M Stone Inc 114,026
Klassic Enterprises Pvt Ltd 253,359
Nature View Stones 2,325,375
Onix For Exports & Imports 875,952
Parbhavati Builders & Developers Pvt Ltd 2,205,594
Ridhi Sidhi Granite Industries 284,958
R R industries 99,520
SMK Impex 251,184
Sri Meenakshi Granite Industries 899,433
Puy Vast Maritime India Pvt Ltd 171,777
Tulip Granites Pvt Ltd 21,196
Vinayak Stonex 20,000
Yashaswini Granites 129,179
Total 16,779,127
LIST OF BANK BALANCES: K
Sate Bank of Patiala & ICICI Bank 13,628
Cash In Hand 123,338
Total 136,966
STATUTORY ADVANCES L
VAT Receivable -

Total -
BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
Bangalore

Note: G Notes to Accounts for Balance Sheet as at 31st March 2016

Fixed Assets Gross Block Accumulated Depreciation Net Block
Balance as at Additions/ Acquired Revaluations/ Balance as at 31 Balance as at 1 Depreciation Adjustment On disposals Balance as Balance as at Balance as at 31
1 April 2015 (Disposals) through (Impairments) March 2015 April 2015 charge for due to at 31 March 1 April 2015 March 2016
business the year revaluations 2016
combinations

Tangible Assets
25.89% Furniture & Fixture 63,990 - - 63,990 - 16,567 16,567 47,423
25.89% Iron Stand 72,859 - - 72,859 - 18,863 18,863 53,996
Total 136,849 - - - 136,849 - 35,430 - - 35,430 - 101,419
 BABA JETBLACK PRIVATE LIMITED
(Formly Know as I S Goyal Trading Co. Pvt. Ltd.)
Bangalore
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
1. Significant Accounting Policies

1.1      Basis of Accounting

The financial statements are prepared and presented under the historical cost convention on accrual basis
of accounting in accordance with the Generally Accepted Accounting Principles (GAAP) in India.These
financial statements comply in all material aspects with the Accounting Standards (AS) notified under the
Companies (Accounting standards) Rules, 2006 (as ammended), to the extent applicable,other
pronouncements of the Institute of Chartered Accountants of India (ICAI) and the relevent provision of the
Companies Act, 2013.

The Accounting policies adopted in the preparation of these financial statements are consistent wioth
those of the previous years.

1.2      Use of estimates

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

Estimates and underlying assumptions are reviewed on an ongoing basis. Any revision to accounting
estimates is regognissed prospectively in the current and future periods.

1.3      Revenue recognition

Sale of goods
Domestic and export sales are recognized on dispatch of the goods to the customer.
Rebates and discounts received is recognised as other operating income on actual basis.
Interest
Interest income is recognised on a time proportion basis taking into account the amount outstanding and
the rate applicable.
Other Oncome
Other income represents the net income (Sales value less the cost of purchase) received from trading in
commodities.

  1.4      Fixed assets

Fixed assets are stated at cost less accumulated depreciation and impairment losses. Cost comprises the
purchase price and any cost attributable to bringing the asset to its working condition for its intended
use. Advances paid towards acquisition of fixed assets before the period end are classified as capital
work in progress.

Borrowing costs directly attributable to acquisition or construction of those fixed assets which necessarily
take a substantial period of time to get ready for their intended use are capitalised. Fixed assets
purchased in foreign currency are recorded at the actual rupee cost incurred.

1.5      Depreciation
Depreciation on fixed assets is provided on the written down method, using the rates specified in
Schedule II to the Companies Act, 2013. Assets individually costing less than Rs 5,000 are fully
depreciated in the year of purchase.

1.6      Inventory
Inventories are valued at the lower of cost and net realizable value, with the cost being determined on a
‘First In First Out’ basis. Cost of inventories comprises all costs of purchase and other costs incurred in
bringing the inventories to their present condition and location.

1.7      Employee benefits

Retirement Benefits of Employees: Gratuity and Leave Encashment benefits are accounted as and when
the claim arises. As the Company is in its second year of operations, the Liability of Gratuity and Leave
Encashment is not calculated.

1.8      Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets
are capitalized till the date on which the asset is ready for its intended use. Other borrowing costs are
recognized as an expense in the period in which they are incurred.
Borrowing costs consists of interest expense and other financial costs incurred in connection with
borrowing of funds.
1.9      Taxes on income
Tax expense comprises both current and deferred taxes. The current charge for income taxes is
calculated in accordance with the relevant tax regulations. Deferred income taxes reflect the impact of
current year timing differences between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date.

Deferred tax libility is recognized only to the extent that there is reasonable certainty that sufficient
future taxable income will be available.
1.10      Earnings per share
Earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders (after deducting attributable taxes) by the weighted average number of equity shares
outstanding during the period.

1.11      Provisions and contingent liabilities

The Company creates a provision when there is a present obligation as a result of a past event that
probably requires an outflow of resources and a reliable estimate can be made of the amount of the
obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources. Where there is a possible
obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no
provision or disclosure is made.

2. Notes to the Accounts :

2.1 Related party transactions

SL No. Name of the related party Relationship Transaction Amount
1. Mr. Sunil goyal Key Management Personal -------- ------
2. Mr. Pradeep goyal Key Management Personal -------- ------

2.2. Earning per Share ( EPS) 31st March 2016 31st March 2015
Weighted average number of shares 10100 10100
outstanding during the year
Net Profit / (Loss) after tax atriibuted 402385/- 281893/-
to equity share holders
Earning Per Share ( After Deferred Tax) 39.84 27.91
Nominal value of equity share 10/- 10/-
2.3 Segment Reporting
The Company is into the business of Granite Slabs and tiles on which company have same degree of risk
and return. Their production process is also similar. Further the company’s revenue from overseas market
is nil. Thus the Company does not have more than one reportable segment in line with the Accounting
Standard 17 on “Segmental Reporting” issued by the Institute of Chartered Accountants of India.

2.4 Micro Small & Medium Enterprises Development Act 2006

There are no Small Scale Undertakings to which Company owes, for more than thirty days and exceeding
Rupees One Lac

2.5 Supplementary statutory information

a) Managerial remuneration 31st March 2016 31st March 2015
Salary & other allowaences
1. Mr. Sunil goyal Rs 2,00,000/- Rs 2,00,000/-
2. Mr. Pradeep goyal Rs 2,00,000/- Rs 2,00,000/- -
`
b) Payments to the auditor as 31st March 2016 31st March 2015
a). auditor, Rs 30,000/- Rs 20,000/-
b). for taxation matters, NIL NIL
c). for company law matters, NIL NIL
2.6. Previous year figures regrouped/ rearranged wherever necessary

As per our Audit Report of even date

foR BHANDARI PINCHA & SURANA for Baba JetBlack Pvt Ltd
Chartered Accountants

(Mukesh Surana)
Partner Director Director

Place: Bangalore
Date : 25/04/2016