a) The company has elected an irrevocable option to designate certain investments in equity instruments through FVOCI as the said investments are not held for trading and company continues to invest for long term.

b) Of the total dividend recognised from investment in equity shares designated at FVOCI, ' 9173.69 lakhs for the year 2024-25 and ' 7474.86 lakhs for the year 2023-24 pertains to investments held at the end of reporting period.

c) During the year, no cumulative gains/losses (net) on investment in equity shares designated at FVOCI are required to be transferred to retained earnings since there is no derecognition of related investments.

d) During the current or previous reporting periods the Company has not reclassified any investments since its initial classification.

(C) The Company has only one class of equity shares having par value of ' 10 per share. Each holder of equity share is entitled to one vote per equity share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive the remaining assets of the company in proportion to the number of equity shares held.

The Company declares and pays dividend in Indian Rupees. The final dividend, if any, proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

(D) The company is an NBFC Investment company and part of promoter group of Asian Paints Ltd., the objective of the Company is to hold the investments for long term and invest the surplus liquidity from time to time to maintain the financial foundation of the Company and ensure sustainable growth.

19.1 Description of the nature and the purpose of the Other Equity

a) Statutory Reserves (u/s 45-IC of The Reserve Bank of India Act, 1934)

Statutory reserve represents reserve fund created pursuant to Section 45-IC of the RBI Act, 1934 through transfer of specified percentage of net profit every year before any dividend is declared. The reserve fund can be utilised only for limited purposes as specified by RBI from time to time and every such utilisation shall be reported to the RBI within specified period of time from the date of such utilisation.

b) General Reserve

General reserve is created through annual transfer of profits at a specified percentage in accordance with applicable regulations under the erstwhile Companies Act, 1956. The purpose of these transfers was to ensure that if a dividend distribution in a given year is more than 10% of the paid up capital of the Company for that year, then the total dividend distribution is less than the total distributable profits for that year. Consequent to introduction of the Companies Act, 2013, the requirement to mandatorily transfer specified percentage of net profits to General reserve has been withdrawn. However, the amount previously transferred to the General reserve can be utilised only in accordance with the specific requirements of the Companies Act, 2013.

c) Retained Earnings

Retained earnings or accumulated surplus represents total of all profits retained since Company's inception. Retained earnings are credited with current year profits, reduced by losses, if any, dividend payouts, transfers to General reserve or any such other appropriations to specific reserves.

The dividends proposed for the financial year ended 31 March 2025 shall be paid to shareholders in the subsequent financial year and accounted on payment basis on approval of the members of the Company at forthcoming Annual General Meeting. Accordingly, the dividends proposed for the financial year ended 31 March 2024 have been paid to shareholders on approval of the members of the Company at the relevant Annual General Meeting.

32 DISCLOSURE PURSUANT TO IND AS 116 "LEASES"

i) Lease rentals received for the assets let out on operating lease arrangement for which are cancellable by either party by providing notice as mentioned in the agreement. Lease rental income / License fees of ' 123 Lakhs (P.Y. ' 2.61 Lakhs) are recognised as income in the statement of Profit and Loss under the head 'Revenue from operations'.

ii) The future minimum lease rental income receivable under non-cancellable operating leases in the aggregate and for each of the following periods:

iv. 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.

v. No proceedings or notice received against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and the rules made thereunder.

34 Contribution to political parties during the year 2024-25 is ' Nil (Previous year ' Nil).

35 There are no amounts due and outstanding to be credited to Investor Education & Protection Fund as at March 31, 2025.

36 DISCLOSURE PERTAINING TO IMMOVABLE PROPERTIES

a) The title deeds, of all the immovable properties (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

b) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the current or previous year.

37 The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the current or previous year.

38 The company had didn't entered into any Scheme's of arrangements with the competent authority in terms of Sec. 230 to 237 of the Companies Act, 2013.

39 DETAILS OF PENDING CHARGE CREATION / SATISFACTION REGISTRATION WITH ROC.

The company has no such charges which are pending for creation or yet to be satisfy.

40 The Company has not granted any Loans & Advances in the nature of Loans to its Promoters, Directors, KMP's and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other persons.

41 The company has not taken any facilities from banks/financial institutions against current assets hence disclosure regarding review and reporting of filings and submission of Quarterly returns or statements with banks/financial institutions are in agreement with books of accounts are not available.

42 UTILIZATION OF BORROWED FUNDS AND SHARE PREMIUM:

A) The company has not granted/advance/invested funds in any entities or to any other person including foreign entities during the year with the understanding that the

a) Intermediary shall directly or indirectly lend or invest in any manner whatsoever by or on behalf of the company (Ultimate beneficiaries).

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

B) The company has not received any funds during the year from any person's/entities including foreign entities with the understanding that the company shall

a) Directly or indirectly lend or invest in any manner whatsoever by or on behalf of the funding entity (Ultimate beneficiaries).

b) Provide any gurantee, security or the like to or on behalf of the ultimate beneficiaries.

43 RELATIONSHIP WITH STRUCK OFF COMPANIES

There are no companies which are struck off in MCA with whom the company has entered into transactions and are outstanding.

44 DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

45 IN THE OPINION OF THE BOARD :

i) The current assets, loans and advances will realise in the ordinary course of business, at least the amount at which these are stated in the Balance Sheet.

ii) Provision for all known liabilities have been made.

46 The Company has obtained the Certificate of Registration from the RBI as a Non-Banking Financial Institution -Investment Company on March 03, 1998 under Section 45-IA of the Reserve Bank of India Act, 1934.

47 SEGMENT INFORMATION

As the Company has no activities other than those of an investment company, the segment reporting under Indian

Accounting Standard (IndAS) 108 - 'Operating Segments' is not applicable. The Company does not have any reportable geographical segment.

48 DISCLOSURE PURSUANT TO IND AS 19 "EMPLOYEE BENEFITS":

Short-term employee benefits are recognized as an expense at the undiscounted amount in the statement of profit and loss of the year in which the related service is rendered. The company is providing one-month salary of leave encashment in the last month of the respective financial year.

(b) Measurement of fair values

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition

at fair value, grouped into Level 1 to Level 3, as described below:

Level I: On the basis of latest NAV/Market price available.

Level II: other techniques for which all inputs which have a significant effect on the recorded fair value are observable,

either directly or indirectly.

Level III: techniques which use inputs that have a significant effect on the recorded fair value that are not based on

observable market data.

(i) The management assessed that fair value of cash and cash equivalents, other receivables, other payables, and other financial assets and other financial liabilities approximate their carrying amounts largely due to the shortterm maturities of these instruments.

(ii) Financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

(iii) The fair values of the equity investment which are quoted, are derived from quoted market prices in active markets. The Investments measured at fair value and falling under fair value hierarchy Level 3 are valued on the basis of valuation reports provided by external valuers with the exception of certain investments, where cost has been considered as an appropriate estimate of fair value because of a wide range of possible fair value measurements and cost represents the best estimate of fair values within that range.

(iv) The fair value of the financial instruments that are not traded in an active market is determined using valuation techniques. The Company uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period.

(v) There have been no transfers between Level I and Level II for the years ended 31st March, 2025 and 31st March, 2024

(c) Derivative Financial Instruments

The Company has not entered into any derivative financial contracts during the current and previous financial years.

(d) Financial Risk Management

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

• Credit risk

• Liquidity risk; and

• Market risk

The Company has a risk management framework which not only covers the market risks but also other risks associated with the financial assets and liabilities such as interest rate risks and credit risks.

The risk management framework is approved by the Board of Directors.

Credit Risk:

Credit risk is the risk of financial loss to the company if a counter-party fails to meet its contractual obligations. Cash and cash equivalents

The company holds cash and cash equivalents of lakhs at 31st March 2025'89.37 Lakhs (31st March 2024: ' 275.44 lakhs). The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

Liquidity Risk:

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the Company's reputation.

The table below analyses the Company's financial liabilities into relevant maturity groupings based on their contractual maturities for:

Market risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market rates and prices (such as equity price, interest rates etc.) or in the price of market risk-sensitive instruments as a result of such adverse changes in market rates and prices. The Company is exposed to market risk primarily related to the market value of its investments.

Interest rate risk :

Interest rate risk arises from effects of fluctuation in prevailing levels of market interest rates on the fair value of Bonds / Debentures.

Currency risk:

Currently company does not have transaction in foreign currencies and hence the company is not exposed to currency risk.

Price risk:

The Company is exposed to equity price risk arising from investments held by the Company and classified in the balance sheet either as FVTPL or FVOCI.

To manage its price risk arising from investment in equity securities, the Company diversifies its portfolio.

The majority of the Company's equity investments are listed on the BSE or the National Stock Exchange (NSE) in India.

(e) Capital Management

The Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.

The Company has adequate cash and cash equivalents. The company monitors its capital by a careful scrutiny of the cash and cash equivalents, and a regular assessment of any debt requirements. In the absence of any debt, the maintenance of debt equity ratio etc. may not be of any relevance to the Company.

51 PARTICULAR'S AS PER RBI DIRECTION'S FOR NBFC

Schedule to the Balance sheet of a non-deposit taking non-banking financial company as required in terms of paragraph 18 of Master Direction Non Banking Finance Compeny- Non Systematically lmportant Non Deposit taking Company vide Master Direction DNBR.PD.007/03. 10.119/2016-17 dated September 1, 2016

52 Previous year previous GAAP figures have been regrouped / reclassified to make them comparable with IND AS presentation.

53 RULE 11(G) OF COMPANIES (AUDIT AND AUDITORS) RULES, 2014

The Company has used accounting software for maintaining its books of account for the financial year ended March 31, 2025, which has a feature of recording audit trail (edit log) facility and the same has not operated throughout the year for all relevant transactions recorded in the software.

54 EVENTS AFTER REPORTING DATE

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

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