11. Provisions, contingent liabilities and contingent assets

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists and it
is probable that an outflow of resources embodying economic benefits will be required to settle such obligation and the
amount of such obligation can be reliably estimated. If the effect of 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. When discounting
is used, the increase in the provision due to the passage of time is recognized as a finance cost.

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 embodying economic benefits or the amount of
such obligation cannot be measured reliably.

When there is a possible obligation or a present obligation in respect of which likelihood of outflow of
resources embodying economic benefits is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements; however they are disclosed where the inflow of economic
benefits is probable. When the realization of income is virtually certain, then the related asset is
no longer a contingent asset and is recognised as an asset.

12. Dividend

Provision is made for the amount of any dividend declared on or before the end of the reporting period but not distributed
at the end of the reporting period, being appropriately authorised and no longer at the discretion of the Company.
The final dividend on shares is recorded as a liability on the date of approval by the shareholders, and interim dividends
are recorded as a liability on the date of declaration by the Company's Board of Directors.

13. Leases and Right to Use Assets

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the
right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee: The Company applies a single recognition and measurement approach for all leases, except
for short term leases and leases of low-value assets. The Company recognises lease liabilities to make lease payments and
right-of-use assets representing the right to use the underlying assets.

i) Right-of-use assets: The Company recognises right-of-use assets at the commencement date of the lease
(i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any
accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The
cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and
lease payments made at or before the commencement date less any lease incentives received. Right of- use

assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
assets.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the

exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right of-use assets

are also subject to impairment. Refer to the accounting policies in section (p) Impairment of non-financial assets.

ii) Lease Liabilities: At the commencement date of the lease, the Company recognises lease liabilities measured at
the present value of lease payments to be made over the lease term. The lease payments include fixed payments
(including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend
on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also
include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of
penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. Variable
lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce
inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable.

After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced
for the lease payments made.

In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease
term, a change in the lease payments.

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases of machinery and equipment
(i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase
option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are
considered to be low value.

Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight- line basis over
the lease term.

14. Income tax
Current tax

Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act,
1961 in respect of taxable income for the year and any adjustment to the tax payable or receivable in respect of previous
years.

Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss(either in other
comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in
OCI or directly in equity. Management periodically evaluates positions takenin the tax returns with respect to situations in
which applicable tax regulations are subject to interpretationand establishes provisions where appropriate.

Deferred tax_

Note No 1: SIGNIFICANT ACCOUNTING POLICIES

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and
their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognised for all taxable temporary differences.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and
any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused
tax losses can be utilised.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets
against current tax liabilities and the deferred taxes relate to the same taxable entity and the same tax authority.

15. Earnings per share

Basic earnings per share is computed and disclosed using the weighted average number of equity shares
outstanding during the period. Dilutive earnings per share is computed and disclosed using the weighted average
number of equity and dilutive equity equivalent shares outstanding during the period, except when the results would be
anti-dilutive.

16. Goods and services tax paid on acquisition of assets or on incurring expenses

Expenses and assets are recognised net of the goods and services tax paid, except when the tax incurred on a purchase of
assets or services is not recoverable from the tax authority, in which case, the tax paid is recognised as part of the
cost of acquisition of the asset or as part of the expense item, as applicable.

The net amount of tax recoverable from, or payable to, the tax authority is included as part of receivables or payables,
respectively, in the balance sheet.

17. Segment Reporting

The Company operates in a single operating segment viz. "Loans Given" and single geographical segment.
Disclosure under Ind AS 108 is made accordingly.

18. Statement of cash flows

Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of transactions
of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and items of
income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

19. Recent pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2025, MCA has notified Ind
AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions,
applicable to the Company w.e.f. April 1, 2024. The Company has reviewed the new pronouncements and based on its
evaluation has determined that it does not have any significant impact in its financial statements.

As per records of the company, including its register of shareholders/members and other declarations received from
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of
shares.

12.3 There are no shares issued or reserved for issue under options and contracts or commitments for the sale of shares
or disinvestment during the period of five years immediately preceding the Balance Sheet date. There are no shares
allotted without the payment being received in cash during the period of five years immediately preceding the Balance
Sheet date.

12.4 During the year, the Company has issued 81,66,667 number of equity shares of Rs. 10 each as fully paid-up bonus
shares in the ratio of 1:6 by capitalising Rs. 657.87 Lakhs from Retained Earnings & Rs. 158.79 Lakhs from Securities
Premium.

12.6 Nature of reserves

Securities premium reserve: Securities premium reserve is credited when shares are issued at premium. It can be used
to issue bonus shares, to provide for premium on redemption of redeemable preference shares or debentures, write-off
of expenses on issue of equity shares, etc.

Statutory reserve: It has been created in terms of Section 45-IC (1) of the Reserve Bank of India Act, 1931 ("RBI Act") and
the Company transfers at least 20% of its net profits every year to this reserve before any dividend is declared.

Retained earnings: Retained earnings are the profits that the Company has earned till date, less any transfers to
statutory reserve and dividends paid to investors.

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by
the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders after adjusting for effects of all
dilutive potential shares for the convertible preference shares by the weighted average number of equity shares
outstanding during the year plus the weighted average number of equity shares that would be issued on conversion of
all the dilutive potential shares into Equity shares.

B) Financial risk management

The Company has to manage various risks associated with the lending business. These risks include credit risk, liquidity risk and market
risk.

i. Risk management framework

The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk management
framework.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk
limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect
changes in market conditions and the Company's activities. The Company undertakes regular and ad hoc reviews of risk management
controls andprocedures, the results of which are reported to the Board.

ii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations and arises principally from :

a. Company's receivables from customers

b. Loan Portfolio

c. Cash and cash equivalents and other bank balances

Expected credit losses are a probability-weighted estimate of credit losses (i.e. the present value of all cash shortfalls) over the expected
life of the financial instrument. A cash shortfall is the difference between the cash flows that are due to an entity in accordance with the
contract and the cash flows that the entity expects to receive. Because expected credit losses consider the amount and timing of
payments, a credit loss arises even if the entity expects to be paid in full but later than when contractually due.The Company measures
the expected credit loss of loans based on historical trend, industry practices and the business environment in which the entity operates.

Key components of credit risk assessment

The key components of credit risk assessment are:

- Probability of Default ("PD"): represents the likelihood of default over a defined time horizon.

- Exposure at Default ("EAD"): represents how much the counter-party is likely to be borrowing at the time of default.

- Loss Given Default ("LGD"): represents the proportion of EAD that is likely to be lost post-default.

- The ECL is computed as a product of PD, LGD and EAD.

Definition and assessment of default

The Company considers the following as constituting an event of default:

• the borrower is past due more than 90 days on any material credit obligation to the Company; or

• the borrower is unlikely to pay its credit obligations to the Company in full.

When assessing if the borrower is unlikely to pay its credit obligation, the Company takes into account both qualitative and quantitative
indicators. Quantitative indicator such as overdue status is key inputs in this analysis.

Quantitative indicators such as overdue status and non-payment on another obligation to the Company of the same counterparty are
key inputs in this analysis.

Delinquency buckets have been considered as the primary basis for the staging of all loans with:

- 0-30 days past due loans classified as Stage 1

- 31-90 days past due loans classified as Stage 2 and

- Above 90 days past due loans classified as Stage 3

Along with delinquency buckets; the internally developed criteria's to analyse whether there is increase in credit risk or whether the
asset is credit impaired are considered for staging of loans.

22 Financial Instruments (contd..)
iii. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by
delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient
liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to
the Company's reputation.

iv. Market risk

Market risk is the risk that changes in market prices - such as foreign currency rates, interest rates and equity prices - will affect the Company's income
or the value of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign currency
receivables and payables and long term debt. The Company has no exposure to market risk related to foreign exchange rate risk or interest rate risk.

A. Currency risk

The Company has no foreign currency exposure.

B. Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk ofchanges in fairvalues of
fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows of
floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

23 Capital management

Capital includes equity attributable to the equity holders to ensure that it maintains an efficient capital structure and healthy capital ratios
in order to support its business and maximize shareholder value. The Company manages its capital structure and makes adjustments to it,
in light of changes in economic conditions or its business requirements. To maintain or adjust the capital structure, the Company may
adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

Disclosure of outstanding dues of MSME is based on information available with company regarding status of suppliers as defined under MSME Act, 2006 and had
been relied upon by auditors. There is undisputed amount as on 31st March, 2025 & 31st March, 2024 to micro and Small and Medium enterrprises on account of
principle or interest.

Outstanding pertaining to dues payable to MSME entities neither includes any interest payable nor any interest accrued on such payables.

34 Value of Imports- Rs. NIL

35 Dividends proposed to be distributed for the equity shareholders for the year ended 31st March, 2025, 31st March, 2024 is Rs.NIL.

A) General information - The Company operates in a single segment

The Company's Chairman and Managing Director have been identified as the Chief Operating Decision Maker. The CODM examines the Company's performance on an overall
level. The Company has only one reportable segment i.e. 'wholesale financing' . The Company does not have any operations outside India and hence there are no reportable
geographical segments.

B) Geographic information

The Company's major operations are in single geographical location, i.e. India.

The segment revenue, segment results, total carrying value of segment assets and segment liabilities, total costs incurred to acquire segment assets, total amount of charge of
depreciation during the period are all reflected in the Financial Statements.

C) Information about major customers

In FY 2024-25 revenue from 4 customers accounted for Rs 232.96 Lakhs and in FY 2023-24 revenue from 4 customers accounted for Rs. 108.45 Lakhs, which contributed more
than 10% of the total revenue earned during the year.

38 Events after the reporting period

There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on the balance sheet date.

39 Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.

40 Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accountingsoftware which has a feature of recording audit trail (edit log)
facility is applicable to the Company with effect fromApril 1, 2023, and accordingly, the reporting under Rule 11(g) of Companies (Audit and Auditors) Rule, 2014 is
applicablefrom April 1, 2023.

Based on our examination which included test checks, the company has used an accounting software for maintainingits books of account which has a feature of recording audit
trail (edit log) facility and the feature of recording audit trail(edit log) facility was not enabled throughout the year for all relevant transactions recorded in the software or at
thedatabase level to log any direct data (FY 24-25).

The feature of recording audit trail (edit log) facility of the accounting software used for maintaining general ledger was enabled from 10th June 2024.

As per our report of even date attached

For Ambavat Jain & Associates LLP For and on behalf of the Board of Directors of

Chartered Accountants Enbee Trade and Finance Limited

Firm's Registration No.: 109681W

Amarr Narendra Galla

Managing Director DIN:07138963
Mumbai: 28/04/2025

Ashish J Jain Yogesh Mule

Partner Chief Financial Officer

Membership No:111829 Mumbai: 28/04/2025

Mumbai: 28/04/2025

UDIN:25111829BMIFNB3355 Anshul Bajaj - Company Secretary

Mem No : A31882