2.7 Provisions

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be
required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are determined based
on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimates

2.8 Trade and other payables

A payable is classified as ’trade payable’ if it is in respect of the amount due on account of goods purchased or services received in the normal course
of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are
unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are
recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method.

2.9 Income taxes

Income Tax Expense comprises Current and Deferred Tax. Current Tax is the expected tax payable on the taxable income for the year, using tax rates
enacted or substantively enacted and as applicable at the reporting date, and any adjustment to tax payable in respect of previous years. Current
income Taxes are recognised under 'Income Tax payable' net of payments on account, or under 'Tax receivable' where there is a debit balance.
Deffered Tax is recognised using the Balance Sheet method, providing for temporary differences between the carrying amounts of assets and
liabilities for financial reporting purposes and the amounts used for taxation purposes.

3.0 Financial assets measured at fair value

Financial assets are measured at 'Fair value through other comprehensive income' (FVOCI) if these financial assets are held within a business model
whose objective is to hold these assets in order to collect contractual cash flows or to sell these financial assets and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

The Company in respect of equity investments (other than in subsidiaries, associates and joint ventures) which are not held for trading has made . an
irrevocable election to present in other comprehensive income subsequent changes in the fair value of such equity instruments. Such an election. is
made by the Company on an instrument by instrument basis at the time of initial recognition of such equity investments. Financial asset not
measured at amortized cost or at fair value through other comprehensive income is carried at 'Fair value through the statement of profit and loss'
{FVPL).

3.1 CASH AND CASH EQUIVALENT

Cash Flow Statement has been prepared in accordance with the Indirect method prescribed in Ind AS 7 'Statement of Cash Flows'.

23. Segment information

Ind AS 108 establishes standards for the company to report information about operating segments and related disclosures about products and
services, geographic areas, and major customers. The Chief Operating Decision Maker (CODM) evaluates the Company’s performance and
allocates resources based on analysis of various performance indicators pertaining to business as a single segment. The primary objective of
Harmony Capital Services Limited is management & financial cosultancy .

24. Related party transactions

The following are the names and nature of transactions of related parties as per IND AS 24 where control exist and/or with whom the
transactions have made during the year and description of relationships, as defined and certified by the management.

The Company’s financial liabilities generally comprises of trade payables, borrowing etc. The main purpose of these
financial liabilities is to raise finances for the company. The financial assets held by the company consist of balance
with banks, security deposit etc.

There are various risk involved with the activities of the company like credit risk, liquidity risk and market risk. The
board of directors reviews and agrees policies for managing each of these risks which are summarized below:

(i) Credit Risk

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in financial loss to the
Company. The Company has credit risk from its Trade receivables and other Financial Assets.

Credit risk management

The customer credit risk is managed subject to the Company’s established policy, procedure and controls relating to
customer credit risk management. In order to contain the business risk, prior to acceptance of any contract, feasibility
study is carried out considering the various factors like market trends etc. The Company remains vigilant and regularly
assesses the credit risk during execution of contracts with a view to limit risks of delays and default. In view of the
industry practice, credit risks from receivables are well contained on an overall basis.

The impairment analysis is performed on each reporting period on an individual basis for major customers. An
impairment analysis is performed at each reporting date. The calculation is based on historical data of losses, current
conditions and forecasts and future economic conditions. The Company ’ s maximum exposure to credit risk at the
reporting date is the carrying amount of each financial asset as detailed in note 4, 6, 7 & 8.

(ii) Liquidity risk

The Company uses liquidity forecast tools to manage its liquidity. The Company is able to substantially fund its
working capital from cash and cash equivalents and cash flow that is generated from operation. The Company believes
that the working capital is sufficient to meet its current requirements.

(iii) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
Interest rate risk:

Interest rate risk is the risk that changes in market interest rates will lead to changes in interest income and expenses
for the Company. Based on market intelligence, study of research analysis reports, company reviews it short/long
position to avail working capital loans and minimise interest rate risk.

In order to optimize the Company’s position with regards to interest income and interest expenses and to manage the
interest risk, the Company performs comprehensive corporate interest risk management by balancing the proportion
of fix rate and floating rate financial instruments.

The company does not have interest rate risk due to the reason that the company has no borrowing and/or deposit
with bank.

26. Capital management

Capital includes equity attributable to the equity holders. The primary objective of the Company’s capital management is to
ensure that it maintains an efficient capital structure and healthy capital ratios in order to support its business and maximise
shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions or its business
requirements. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.
The Company’s objective is to maintain the optimal level of debt component in the capital structure. The Company includes
within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding
discontinued operations.

Note 27 - Contingent liabilities

There are no contingent liabilities as at the reporting date, as certified by the management.
Note 28 - Leases

In reporting financial year company has not entered in to any Finance/Operating lease.

The Company’s primary source of revenue is financial consultancy services. Revenue is recognised when control of services is
transferred to customers, generally at a point in time.

During the year ended March 31, 2026, the Company has not earned any revenue from operations. Accordingly:

-No disaggregation of revenue is presented

-No contract assets or contract liabilities have been recognised

-No performance obligations remain unsatisfied as at the reporting date

-During the year, the Company has recognised Rs. 39.71 lakhs as “Other Income”, which is outside the scope of Ind AS 115.

(i) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the Rules made thereunder.

(ii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender or government or any government authority.

(iii) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the
books of account.

(iv) The Company has not traded or invested in cryptocurrency or virtual currency during the year.

(v) The Company does not have any charges or satisfaction of charges which are yet to be registered with the Registrar of Companies beyond the statutory period.

(vi) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including
foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether directly or indirectly lend or invest in other
persons/entities identified in any other manner whatsoever by or on behalf of the Company ('ultimate beneficiaries') or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

(vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding party") with the understanding (whether recorded in writing or
otherwise) that the Company shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding party (ultimate
beneficiaries); or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

(viii) The Company does not have any transactions with companies struck off.

(ix) The Company has complied with the requirement with respect to the number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies
(Restriction on number of layers) Rules, 2017.

(x) The Company has not availed any borrowings/loans aggregating to ?5 crore or more from any bank or financial institution at any point of time during the financial year.

(xi) The Company has not entered into any scheme of arrangement approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

(xi) Accounting Ratios

As per our report of even date

For Kapish Jain & Associates For and on behalf of the Board of Directors of

Chartered Accountants HARMONY CAPITAL SERVICES LIMITED

(Firm’s Registration No: 022743N)

Amit Kumar Madheshia Jubin Gada Pranita Semwal

Partner Chairman (Director) CFO

Membership No. 521888 DIN : 10531062 PAN : EWSPS6169E

Place : Mumbai Place : Mumbai

Place : New Delhi Date : 07 May 2026 Date : 07 May 2026

Date : 07 May 2026

Khyati Mishra

Company Secretary
M. No :70162
Place : Mumbai
Date : 07 May 2026