(i) Investment property carrying at cost less accumulated depreciation. There is income from rent amounting to Rs. 326.00 lakhs (Previous Year Nil )and additional expenditure of Rs. 113.50 lakhs (Previous Year Nil. )was incurred as repair and maintenance recognised in statement of profit & loss in respect of investment property.

(ii) The fair values of investment property is 29,980.40 Lakhs (Previous Year 3: 9,281.60 lakhs) and same has been dertermined by a register valuer as defined under Rule 2 of the companies (Registered Valuer & Valutaion) Rules, 2017, the fair value measurement for investment property has categorised as level 2 fair value based on input to the valuation technique used, the valuation technique used for determining the Fair Value of the Property was based on the prevailing market price of Similar property in the same locality.

(iii) Refer note no 22 for details of mortgage of Investment property.

(iv) During the year the company has let out its investment properties, namely Bawal Plant and Binola Plant. These properties are mortgaged with PICUP (The Pradeshiya Industrial & Investment Corporation of Uttar Pradesh Limited) as security for existing borrowings. In accordance with the terms of mortgage, the rental income generated from these investment properties is subject to restrictions and can be utilised only for repayment of the outstanding loan obligations to PICUP.

(i) The company had entered into a Service Concessional Arrangement with Jodhpur Vidyut Vitran Nigam ltd under which it operates and maintains 2 Windmill projects for electricity generation. The arrangement is for 20 years out of which 7 years remain as on reporting date. The company has right to charge user for electricity generated.

(ii) The company had recognized an intangible asset representing the right to collect revenue for sale of electricity. The asset amortised on the balance concession period of 7 years.

(b) Terms/ Rights attached to Equity Shares

The Company has only one class of equity shares having par value of Rs 10/- per share . Each holder of equity shares is entitled to one vote per share held and is entitled to dividend , if declared at the Annual General Meeting . In the event of liquidation , the equity shareholders are entitled to receive remaining assets of the company (after distribution of all preferential payments, if any ) in the proportion of equity held by the shareholders.

(ii) The term loan with an oustanding amount of Rs 1,500.00 lakhs out of Total sanction amount of Rs. 3,300.00 lakhs is secured through first and exclusive charge created on the company's property in Sector 44 , gurgaon in favor of Tata Capital Financial Services Limited.

(iii) An exclusive equitable mortgage has been created in favor of Yes Bank Limited over property at Plot Nos. 10 & 10A, Sector-20B, Urban Estate, Faridabad, measuring 7676.48 sq. meters. The mortgage amount pertaining to the non-fund based limit which has been enhanced from ^2,150.00 lakhs to ^3,300.00 lakhs. This limit has been utlised to provide Bank Guarantees in favour of The Pradeshiya Industrial & Investment Corporation of U.P. Limited (PICUP) as security against disbursement of incentives due in the form of an interest free loan.

(iv) Term Loan from The Pradeshiya Industrial & Investment Corporation of U.P. Limited (PICUP) is secured by way of first charge on Land and Building of Bawal & Binola unit and hypothecation on the Plant and Machinery of Lucknow Unit against loan amounting to Rs. 1,737.53 Lakhs due for repayment on 24th October, 2025. Post this repayment as per due date, the charge against properties mentioned above will be satisfied. Term Loan is interest free under Industrial Investment Promotion Scheme (IIPS) of Government of Uttar Pradesh, and repayable after 7 years from the date of respective disbursement in single instalment. Further loan of ^ 4,870.62 Lakhs is secured by way of long term Bank Guarantee issued by a scheduled bank.

(i) The unutilised credit limit from Yes Bank amounting to Rs. 220.00 Lakhs is secured by way of first pari pasu charge created in favor of Yes Bank Limited over the entire stock and book debts of the Company, both present and future, as security for working capital facilities, in alignment with other working capital lenders.

(ii) The company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date.

(iii) Bank Returns/ Stock Statements filed by the Company with its Bankers are materially in agreement with the books of account.

An operating segment is a component that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the other components, and for which discrete financial information is available.

The board of directors have been identified as the Chief Operating Decision Maker ('CODM'), since they are responsible for all major decision w.r.t. the preparation and execution of business plan, preparation of budget, planning, expansion, alliance, joint venture, merger and acquisition, and expansion of any facility.

The Company's board reviews the results of a single segment. The company's board of directors uses Profit after tax ('PAT') to assess the performance of the single operating segments. Accordingly, there is only one reportable segment for the Company which is "Manufacturing of sheet metal components” for various customers, hence, no specific disclosures have been made.

B. Information about reportable segments

The Company deals in one business segment namely the Manufacturing of sheet metal components, therefore, product-wise revenue disclosures do not apply to the Company.

Information about geographical areas

The company operates primarily under a single geographic location i.e. India and accordingly, there are no separate reportable geographical segments.

C. Revenue from Major Customer.

Revenue generated from one customer amounting to Rs. 36,550.14 Lakhs (Previous year Rs 33,473.35 Lakhs )

n) Pursuant to Section 135 of the Companies Act, 2013 regarding Corporate Social Responsibility (CSR),

a) Gross amount spent by the Company during the year is NIL (previous year Nil) on CSR activities

b) The company does not full fill the criteria as specified in section 135 (1) of the Act read with the Companies (Corporate Social Responsibility Policy) Rules,2014. Due to this the Company has not made any payment towards CSR.

o) Capital Management:

The company manages funds from its existing business and term lenders to ensure that it will continue as a going concern by efficient allocation of funds towards its new projects, optimization of working capital requirements and deployment of surplus funds into fixed deposits.

The management of the Company reviews the capital structure of the Company on regular basis. The Board considers the status of debts, cost of capital and movement in working capital.

B) Fair value measurements (i) Fair value hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three Levels of a fair value hierarchy. The three Levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data rely as little as possible on entity specific estimates.

ii) Financial instruments measured at amortised cost

For amortised cost instruments, carrying value represents the best estimate of fair value.

iii) Risk Management

The Company's activities expose it to the liquidity risk and credit risk. The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

iv) Valuation process and technique used to determine fair value Specific valuation techniques used to value financial instruments include:

(i) Use of net asset value for mutual funds on the basis of the statement received from investee party.

p) Financial risk management :

The Company manages the financial risks relating to the operations of the Company. These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk. The Company seeks to minimise the effects of these risks by using credit limits to hedge risk exposures. The use of financial instruments is governed by the Company’s policies on foreign exchange risk and the investment. The Company does not enter into agreements for trade financial instruments, including derivative financial instruments, for speculative purposes.

1. Market risk is the risk of any loss in future earnings, in realizable fair values or in future cash flows that may result from a change in the price of a financial instrument. The Company’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates risk/ liquidity which impact returns on investments. Keeping in mind the overall small exposure, the company does not enters into derivative financial instruments to manage its exposure to foreign currency risk including export receivables and import payables. Future specific market movements cannot be normally predicted with reasonable accuracy.

B. Interest rate risk

The Company is also exposed to interest rate risk as changes in interest rates may affect future cash flows or the fair values of its financial instruments, principally debt/borrowings. Such debts/borrowings are based on fixed as well as floating interest rate(s). Exposure to interest rates is assessed and monitored to manage the impact of rate volatility.

C. Equity Price risk

The Company's exposure to equity price risk arises solely from its investments in quoted mutual funds, which are classified in the Balance Sheet at fair value through profit or loss (FVTPL). The value of these investments may fluctuate due to changes in the net asset values (NAV) of the underlying securities held by the mutual funds. Given the diversified nature of mutual fund portfolios, relatively low exposure, and the Company's investment objectives, the impact of such fluctuations is not considered significant. Accordingly, no specific sensitivity analysis or management estimation is considered necessary at this stage.

D. Commodity Price Risk

The Company has entered into contractual arrangements with both customers and suppliers that include price variance clauses, thereby aligning input and output prices. As a result, the Company is not exposed to significant commodity price risk. Any fluctuations in commodity prices are contractually adjusted and passed through as per the terms of the agreements. Accordingly, no material commodity price risk exists for the Company

2. Credit Risk

Credit risk is the risk that counterparty will not able to meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade and other receivables) and from its financing activities, including deposits with banks and other financial instruments.

Trade Receivables

The Company follows a 'simplified approach' (i.e. based on lifetime ECL) for recognition of impairment loss allowance on its trade receivables. For the purpose of measuring lifetime ECL allowance for trade receivables, the Company estimates irrecoverable amounts based on the ageing of the receivable balances, clubbed with, historical experience with the customer and/or the industry in which the customer operates and assessment of litigation, if applicable. Receivables are written off when they are no more deemed collectable.

3. Liquidity risk

The Company's principal sources of liquidity are 'Cash and Cash Equivalents' and cash flows that are generated from operations. The Liquidity risk represents the inability of the Company to meet its financial obligations within stipulated time. To mitigate this risk, the Company maintains sufficient liquidity by way of readily convertible instruments and working capital limits from banks.

The company is into the business of manufacturing and selling sheet metal components, having its manufacturing units in the state of Uttar Pradesh and Haryana. To maximise its revenue, the company is also developing various other products for Railways and commercial vehicle business and exploring the opportunities to increase its customer base.

During the current year, the company had sold its Speedomax land which resulting profit on sale of Property Plant and equipment amounting to ^ 1936.20 Lakhs (Previous year Rs. 3,418.70 lakhs on account of sale of Sultanpur land) which has shown as exceptional items in profit and loss account.

Further, plant and equipment of closed units were valued at cost less impairment and these were classified as 'Assets Held for Sale'.

r) No amount of borrowing costs capitalized during the year ended March 31, 2025 was Nil (Previous years Nil).

s) As per Ind AS, the financial liability of interest free loan from PICUP is to be measured at fair value and the difference between disbursed interest free loan amount and fair value is to be recognised as Government grant. The Company has availed mandatory exception under Ind AS 101 and accordingly, change done in accounting treatment on the amount carried forward on the date of transition. After transition date, the difference between interest free loan and fair value has been recognised as Government grant as at Balance Sheet date. Also Government grant has been recognised in the Statement of Profit and Loss as an income on a internal rate of return basis spread over the period of grant and interest on fair value of Government grant on its inception has been recognised as finance cost.

t) As per Ind AS, all items of income and expense recognised in a period should be included in the Statement of Profit and Loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are recognised in profit or loss and also shown in the Statement of Profit and Loss as 'other comprehensive income' includes re-measurements of defined benefit plans.

d) Registration of charges or satisfaction with Registrar of Companies: All applicable cases where registration of charges or satisfaction is required with Registrar of Companies have been done. No Satisfaction is pending for the year ended 31 March 2025.

e) Relationship with Struck off Companies:

No transaction has been made with the company struck off under section 248 of The Companies Act, 2013 or section 560 of Companies Act, 1956 during the year ended March 31, 2025

f) Compliance with number of layers of companies:

No layers of companies has been established beyond the limit prescribed as per close 87 of section 2 of the companies act, 2013 read with the companies (Restriction on number of layers) Rules, 2017

g) Loan or advances granted to the promoters, directors and KMPs and the related parties:

No loan or advances in the nature of loans are granted to the promoters, directors, key managerial persons and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

h) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries); or

(b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

i) During the reporting period, the entity reviewed the use of certain properties previously classified under Property, Plant and Equipment (PPE) and determined that they no longer meet the definition of owner-occupied property under the applicable accounting standards. As a result, these assets have been reclassified to Investment Property in accordance with [Ind AS 40/applicable local standard], as they are now held to earn rental income and/or for capital appreciation. The reclassification was accounted for at the carrying amount of the assets at the date of change in use, and no gain or loss has been recognized as a result of this reclassification.

j) Assets are classified as held for sale if their carrying amount will be recovered primarily through sale rather than through continuing use, if the assets are available for immediate sale in their present condition and if the sale is highly probable. Immediately before classification as held for sale, the assets are measured in accordance with the company's accounting policies. Once classified as held for sale, the assets are measured at the lower of their carrying amount and fair value less costs to sell.

k) Details with respect to the Benami properties:

No proceedings have been initiated or pending against the entity under the Benami Transactions (Prohibitions) Act, 1988 for the year ended 31 March 2025.

l) The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial year or after the end of reporting period but before the date when financial statements are approved.

m) Event after the reporting period

No significant adjusting event occurred between the balance sheet date and date of the approval of these financial statements by the Board of Directors of the Company requiring adjustment of disclosure.

n) Previous year figures have been regrouped/rearranged, wherever considered necessary to conform to current year classification. The figures in brackets are those in respect of the previous accounting year.

o) The financial statements for the year ended March 31, 2025 were approved by Board of Directors and authorized on May 02, 2025.