xiii. Provisions

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

Where a provision is measured using the cash
flows estimated to settle the present obligation,
it carrying amount is the present value of those
cash flows. If the effect of the time value of
money is material, provisions are discounted
using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability.

xiv. Contingent Liabilities

A contingent liability is a possible obligation that
arises from past events whose existence will be
confirmed by the occurrence or non-occurrence
of one or more uncertain future events beyond the
control of the Company or a present obligation
that is not recognized because it is not probable
that an outflow of resources will be required to
settle the obligation.

The Company does not recognize a contingent
liability but discloses its existence in the financial
statements.

xv. Earnings Per Share

Basic earnings per share are calculated by dividing
the net profit or loss for the year attributable to
equity shareholders by the weighted average
number of equities shares outstanding during the
year.

Diluted earnings per share adjusts the figures
used in the determination of basic earnings per
share to consider

• The after-income tax effect of interest and
other financing costs associated with dilutive
potential equity shares, and

• Weighted average number of equity shares
that would have been outstanding assuming
the conversion of all the dilutive potential
equity.

xvi. Cash and Cash Equivalents

Cash comprises cash on hand and demand
deposits with banks. Cash equivalents are
short-term balances (with an original maturity of
three months or less from the date of acquisition),
and highly liquid time deposits that are readily
convertible into known amounts of cash and which
are subject to insignificant risk of changes in value.

xvii. Employee Benefits

Liabilities for wages and salaries, including
nonmonetary benefits that are expected to be
settled wholly within 12 months after the end of the
period in which the employees render the related
service are recognised in respect of employee's
services up to the end of the reporting period and
are measured at the undiscounted amounts of the
benefits expected to be paid when the liabilities
are settled. The liabilities are presented as current
employee benefit obligations in the balance sheet.

Note 3- Critical Accounting Judgements
and Estimates

The preparation of financial statements in conformity with
Ind AS requires judgements, estimates and assumptions
to be made by the management of the Company that
affect the reported amount of assets, liabilities, revenue,
expenses, accompanying disclosures and the disclosures
relating to contingent liabilities as at the date of the
financial statements and the reported amounts of income
and expense for the periods presented.

The estimates and associate's assumptions are based on
historical experience and other factors that are considered to
be relevant. Actual results could differ from those estimates.
These estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised
if the revision affects only that period, or in the period of
the revision and future periods if the revision affects both
current and future period.

i. The title deeds of immovable properties (other
than properties where the company is the lessee
and the lease agreements are duly executed in
favour of the lessee) are held in the name of the
Company.

ii. The Company has not revalued any of its
Property, Plant and Equipment and intangible
assets during the year.

iii. The Company has not granted Loans and
Advances in the nature of loans to Promoters,
Directors, KMPs and the related parties (as defined
under Companies Act, 2013) either severally or
jointly with any other person during the year.

iv. No proceedings have been initiated during the
year or are pending against the Company at
the end of year for holding any benami property
under the Benami Transactions (Prohibition)
Act, 1988 (as amended in 2016) and rules made
thereunder.

v. The Company does not have any borrowings
from banks or financial institutions on the basis of
security of current assets.

vi. The company has not been declared wilful
defaulter by any bank or financial institution or
other lender.

vii. The company had no transactions with
companies struck off under sections 248 of the
Companies Act, 2013 or section 560 of Companies
Act, 1956 during the year.

viii. There were no charges or satisfaction yet to be
registered with Registrar of Companies beyond
the statutory period at the end of the year.

ix. The Company does not have any layers
prescribed under clause (87) of Section 2 of the
Act read with Companies (Restriction on number
of Layers) Rules, 2017.

x. There were no transactions relating to previously
unrecorded income that have been surrendered
or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961 (43
of 1961).

xi. The Company is not covered under section 135 of
the Companies Act during the year.

xii. The Company has not traded or invested in
Crypto currency or Virtual currency during the
financial year.

There is expenditure in foreign currency of Rs. 7.45 Lakhs
(Previous Year Rs. 5.95 Lakhs). There is income in foreign
currency of Rs. 5.40 Lakhs (Previous Year Rs. 2.70 Lakhs).

Note 29- Contingent Liability

Contingent Liability not provided for:

Bank Guarantee Rs. 176.28 Lakhs

Note 30- Bonus Shares

i. The Company had alloted 53,20,000 Equity Shares
as fully paid up by way of Bonus Shares in the ratio
of 19:2 during the year 2020-2021.

ii. The Company had alloted 42,75,600 Equity Shares
as fully paid up by way of Bonus Shares in the ratio
of 1:2 during the year 2022-2023.

Note 31- COVID 19

The Management has reviewed the events or conditions
arising out of COVID 19 and are of the opinion that same
indicates that no material uncertainty exists that may
cast doubt on the company's ability to continue as a
going concern.

Note 32- Other Information

i. The Company has no accrued liability as on
March 31,2025 in respect of gratuity.

ii. Interest on Fixed Deposit from Bank is provided
based on certificate / letter / confirmation by Bank.

iii. During the income tax assessment proceedings
for assessment year 2009-10, 2012-13 and 2014-15,
certain additions were made primarily based on
facts. The Company has won the appeal at CIT(a)
and ITAT. The Income Tax Department has filed
appeal in Bombay High Court against ITAT order
which is in pre admission stage. During the year,
the Income Tax Department has withdrawn the
appeal for assessment year 2009-10 as the tax
effect was less than Rs. 2 Crores and Bombay High
Court has accordingly disposed off this appeal as
withdrawn. The Management is of the opinion that
the possibility of any outflow is remote.

Note 33- Previous Years Figures

Previous year's figures have been regrouped or
reclassified, wherever necessary

AS PER OUR REPORT OF EVEN DATE
FOR VANDANA V. DODHIA & CO.

CHARTERED ACCOUNTANTS

FOR & ON BEHALF OF THE BOARD

sd/- sd/- sd/-

VANDANA V. DODHIA ANJAY VENUGOPAL

PARTNER AGARWAL M. DHOOT

MEMBERSHIP NO: 104000 CHAIRMAN & WHOLE TIME

FIRM REG No: 117812W MANAGING DIRECTOR

DIRECTOR & CFO

DIN:00415477 DIN:02147946

sd/-

SAGAR SHAH

COMPANY SECRETARY &

COMPLIANCE OFFICER
MUMBAI

DATED: 2-May-25
MUMBAI

DATED: 2-May-25

UDIN: 25104000BMCWT7188