6. Provisions and Contingent Liabilities

Provisions are recognised when the Company

(a) has a present obligation (legal or constructive) as a result of a past event,

(b) it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation and

(c) a reliable estimate can be made of the amount of the obligation.

Provisions are measured at the best estimate of the expenditure required to settle the
present obligation at the Balance Sheet date. If the effect of the time value of money is
material, provisions are discounted to reflect its present value using a current pre-tax rate
that reflects the current market assessments of the time value of money and the risks
specific to the obligation. When discounting is used, the increase in the provision due to
the passage of time is recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the
Company or a present obligation that arises from past events where it is either not
probable that an outflow of resources will be required to settle or a reliable estimate of
the amount cannot be made.

7. Revenue Recognition

Interest, finance charges, service charges etc. are recognized as income on accrual basis.
Revenue is measured at the fair value of the consideration received or receivable and
recognized when it is probable that the economic benefits associated with the transaction
will flow to the entity.

8. Other Income

Other income is mainly accounted on accrual basis, except in case of significant
uncertainties.

9. Retirement and other employee benefits:

Employee benefits include provident fund, superannuation fund, gratuity fund,
compensated absences, long service awards and post-employment medical benefits.

Short-term obligation:

Short-term employee benefits like salaries, wages, bonus and welfare expenses payable
wholly within twelve months of rendering the services are accrued in the year in which
the associated services are rendered by the employees and are measured at the amounts
expected to be paid when the liabilities are settled.

Long-term obligation

Compensated absences which are not expected to occur within twelve months after the
end of the period in which the employee renders the related service are recognized as a
liability at the present value of the defined benefit obligation as at the Balance Sheet date
less the fair value of the plan assets out of which the obligations are expected to be
settled. Long Service Awards are recognized as a liability at the present value of the

10. Impairment of Non-Financial Assets:

Assessment for impairment is done at each Balance Sheet date as to whether there is any
indication that a non-financial asset maybe impaired. If any indication of impairment
exists, an estimate of the recoverable amount of the individual asset/cash generating unit
is made. Asset/cash generating unit whose carrying value exceeds their recoverable
amount are written down to the recoverable amount by recognizing the impairment loss
as an expense in the Statement of Profit and Loss. Recoverable amount is higher of an
asset's or cash generating unit's fair value less cost of disposal and its value in use. Value
infuse is the present value of estimated future cash flows expected to arise from the
continuing use of an asset or cash generating unit and from its disposal at the end of its
useful life.

Assessment is also done at each Balance Sheet date as to whether there is any indication
that an impairment loss recognized for an asset in prior accounting periods may no longer
exist or may have decreased. An impairment loss recognized for goodwill is not reversed
in subsequent periods.

11. Taxation:

Income tax expense for the year comprises of current tax and deferred tax. It is
recognised in the Statement of Profit and Loss except to the extent it relates to a business
combination or to an item which is recognised directly in equity or in other
comprehensive income.

Current tax is the expected tax payable/receivable on the taxable income/ loss for the
year using applicable tax rates at the Balance Sheet date, and any adjustment to taxes in
respect of previous years. Interest income/ expenses and penalties, if any, related to
income tax are included in current tax expense.

Deferred tax is recognised in respect of temporary differences between the carrying
amount of assets and liabilities for financial reporting purposes and the corresponding
amounts used for taxation purposes. Deferred tax is recognized using the tax rates
enacted, or substantively enacted, by the end of the reporting period.

Deferred tax assets are recognised only to the extent that it is probable that future
taxable profits will be available against which the asset can be utilised. Deferred tax
assets are reviewed at each reporting date and reduced to the extent that it is no longer
probable that the related tax benefit will be realised.

Current tax assets and current tax liabilities are offset when there is a legally enforceable
right to set off the recognised amounts and there is an intention to settle the asset and
the liability on a net basis. Deferred tax assets and deferred tax liabilities are offset when
there is a legally enforceable right to set off current tax assets against current tax
liabilities; and the deferred tax assets and the deferred tax liabilities relate to income
taxes levied by the same taxation authority.

12. Earnings per Share

Basic earnings per share is computed by dividing the net profit for the period attributable
to the equity shareholders of the Company by the weighted average number of equity
shares outstanding during the period. The weighted average number of equity shares
outstanding during the period and for all periods presented is adjusted for events, such as
bonus shares, other than the conversion of potential equity shares that have changed the
number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit for the period
attributable to equity shareholders and the weighted average number of shares
outstanding during the period is adjusted for the effects of all dilutive potential equity
shares.

Basic EPS is calculated in accordance with Ind AS 33 'Earnings per share' 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 is calculated by dividing the profit attributable to equity holders of the Company 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 equity shares into equity shares of the Company.

The carrying amounts of Cash and Cash equivalents, Trade Receivables, Loans, Other Financial Assets, Trade and Other Payables and Borrowings(Other than
Debt Securities) are considered to be approximately equal to the fair value.

I. Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and,

(b) measured at amortised cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three
levels prescribed under the Indian accounting standard. An explanation of each level is as follows :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined
using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs
required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity
securities, contingent consideration and indemnification asset included in level 3.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

• the fair value of forward foreign exchange contracts is determined using forward exchange rates at the balance sheet date.
o Use of quoted market price or dealer quotes for similar instruments
o Using discounted cash flow analysis.

The fair values computed above for assets measured at amortised cost are based on discounted cash flows using a current borrowing rate. They are classified
as level 2 fair values in the fair value hierarchy due to the use of unobservable inputs.

(i) Capital management

The company's objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for
shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management's judgement of the appropriate balance of key
elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion
to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics
of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company
will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

The Company has exposure to the following risks arising from financial instruments:

• Credit risk ;

• Liquidity risk ; and

• Market risk

A. Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The company
is exposed to credit risk from its operating activities (primarily for trade receivables and loans) and from its financing
activities (deposits with banks and other financial instruments).

Credit risk management

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of business. The
Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred
losses in respect of trade and other receivables.

The Company's maximum exposure to credit risk as at 31st March, 2024 & 2023 is the carrying value of each class of
financial assets.

i) Trade and other receivables

Credit risk on trade receivables is limited based on past experience and management's estimate.

ii) Cash and Cash Equivalents

The Company held cash and bank balance with credit worthy banks of Rs.459954.72 at March 31, 2024, (March 31,
2023: Rs 1552212.22). The credit risk on cash and cash equivalents is limited as the Company generally invests in
deposits with banks where credit risk is largely perceived to be extremely insignificant

B. Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a
reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - Trade
and Other Payables and Borrowings.

Liquidity risk management

The Company's approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities
when due without incurring unacceptable losses. In doing this, management considers both normal and stressed
conditions. A material and sustained shortfall in our cash flow could undermine the Company's credit rating and
impair investor confidence.

The Company maintained a cautious funding strategy, with a positive cash balance throughout the year. This was
the result of cash delivery from the business. Cash flow from operating activities provides the funds to service the
financing of financial liabilities on a day-to-day basis. The Company's treasury department regularly monitors the
rolling forecasts to ensure it has sufficient cash on-going basis to meet operational needs. Any short term surplus
cash generated by the operating entities, over and above the amount required for working capital management and
other operational requirements, are retained as cash and cash equivalents (to the extent required).

C. Market risk

Market risk is the risk that changes in market prices such as foreign exchange 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. The Company is exposed to market risk primarily related to interest
rate risk and the market value of the investments.

i) Currency Risk

The functional currency of the Company is Indian Rupee. Currency risk is not material, as the Company does not
have any exposure in foreign currency.

ii) 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 of changes in fair values 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.

Exposure to interest rate risk

According to the Company interest rate risk exposure is only for floating rate borrowings. Company does not have
any floating rate borrowings on any of the Balance Sheet date disclosed in this financial statements.

iii) Price Risk

Price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price.
It arises from financial assets such as investments in quoted instruments.

a Fair value sensitivity analysis for fixed rate Instruments

The Company does not account for any fixed rate financial assets or financial liabilities at fair value through Profit or
Loss. Therefore, a change in interest rates at the reporting date would not affect Profit or Loss.

b Cash flow sensitivity analysis for variable rate Instruments

The company does not have any variable rate instrument in Financial Assets or Financial Liabilities.

29 Segment Reporting

The Company is engaged mainly in business of financing and as such there are no other reportable segment
as defined by Indian Accounting Standard 108 on "Operating Segments" issued by the Institute of Chartered
Accountants of India.

30 There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been
paid to any such parties. This is based on the information on such parties identified on the basis of
information available with the Company and relied upon by the auditors.

33 Details of benami property held

There has been no proceedings initiated or pending against the Company for holding any benami property
under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made thereunder.

34 Wilful defaulter

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

35 Compliance with number of layers of companies

The Company does not have any subsidiary(s), therefore Section 2 of the Companies Act, 2013 read with
Companies (Restriction on number of Layers) Rules, 2017 relating to Layers of Companies is not applicable.

36 Undisclosed income

The Company does not have any transaction not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search
or survey or any other relevant provisions of the Income Tax Act, 1961).

37 Intangible assets under development

There are no Intangible assets under development as on 31st March 2024.

38 Security of current assets against borrowings

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

39 Compliance with approved scheme(s) of arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237
of the Companies Act, 2013.

40 Details of crypto currency or virtual currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year
ended on 31st March 2024.

41 Title deeds of immovable property not held in name of the company

The Company does not have any immovable property (other than properties where the Company is the
lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in
the name of the Company.

42 Registration of charges or satisfaction with registrar of companies

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

43 Utilisation of borrowed funds/share premium/any other source of funds

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 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 of the Company in the ordinary course of business .

Accordingly, no further disclosures, in this regard, are required.

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.

44 Events after reporting date

There have been no events after the reporting date that require adjustment/disclosure in these financial
statements.

45 The previous year figures have been regrouped /reclassified wherever considered necessary. Figures have
been rounded off to the nearest rupee.

As per our report of even date For and on behalf of the Board of Directors of

For Satya Prakash Natani & Co. Ken Financial Services Limited

Chartered Accountants CIN: L65990MH1994PLC078898

Firm registration number: 115438W

Sd/- Sd/- Sd/-

Satya Prakash Natani Shakti Singh Rathore Praveen Modi

Partner Managing Director Director & CFO

Membership number: 048091 DIN: 09208373 DIN: 08428737

Sd/-

Mumbai Sarika Agarwal

May 30, 2024 Company Secretary