Cash flows from operating activities are reported using the
indirect method where by the profit after tax is adjusted
for the effect of the transactions of a non-cash nature, any
deferrals or accruals of past and 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.

2.13 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.

The Ministry of Corporate Affairs vide notification
dated 7th May 2025 and 13th August, 2025 notified the
Companies (Indian Accounting Standards) Amendment
Rules, 2025 and Companies (Indian Accounting
Standards) Second Amendment Rules, 2025, respectively,
which amended/ notified certain Indian Accounting
Standards and are effective for annual reporting periods
beginning on or after 1 April 2025:

a) Classification of Liabilities as Current or Non-current and
Non-current Liabilities with Covenants: Amendments to
Ind AS 1;

b) Supplier Finance Arrangements: Amendments to Ind AS 7
and Ind AS 107;

c) International Tax Reform - Pillar Two Model Rules:
Amendments to Ind AS 12;

d) Lack of Exchangeability: Amendments to Ind AS 21:

The Company has evaluated the amendments and there
is no impact on the Company’s financial statements.

NOTE NO. 13.01

Fair Value of Investment Property

Fair value of Investment Property (ROU Asset) has not been determined as these are actually the effective portion of present value of lease
rentals of the building taken on lease, over the term of the lease.The Company has taken a building on lease and which has been further
rented out by the company.

NOTE NO. 13.02

Amounts recognized in profit and loss for investment property

a) Term Loan from banks amounting ? 271.71 lakhs and ? 208.58 lakhs as of March 31, 2026 and March 31, 2025, respectively, are secured by
way of hypothecation of vehicles and are repayable over a period up to five years.

b) Term Loan from other parties amounting ? 5,054.05 lakhs and ? 7,319.20 lakhs as of March 31, 2026 and March 31, 2025, respectively, are
secured by way of hypothecation of freehold land, exclusive charge on collateral property situated at Pusa Road New Delhi and personal
guarantee of promoters directors are repayable in 60 instalments.

c) Term Loan from other parties amounting ^16,829.23 lakhs and ? 15,174.11 lakhs as of March 31, 2026 and March 31, 2025 , respectively,
are secured by way of Margin trading facility and personal guarantee of promoter directors.

d) Loan from banks amounting ? 67,795.90 lakhs and ? 46,797.21 lakhs as of March 31, 2026 and March 31, 2025, respectively, are secured
against shares, receivables (including exchange balances), fixed deposits, certain office buildings and personal guarantee of promoter
directors.

e) Loan from other parties amounting ? 402.64 and ? 4,751.62 as of March 31, 2026 and March 31, 2025 , respectively, are secured by way of
hypothecation of shares, receivable and personal guarantee of promoter directors.

f) Loan from related parties amounting ? 1,106.70 and Nil as of March 31, 2026 and March 31, 2025 , respectively, are unsecured.

NOTE NO. 27.02

Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having a par value of ? 2 each ( PY 2 each). Each holder of equity shares is entitled to one
vote per share. In the event of Liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the
company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares
held by the shareholder.

The final dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

NOTE NO. 27.03

For the period of five years immediately preceding the date at which the balance sheet is prepared

Nature and purpose of reserves :

A) Securities premium

Securities premium is used to record the premium received on issue of shares. The reserve can be utilised only for limited purposes in
accordance with the provisions of the Companies Act, 2013.

B) Retained earnings

Retained earnings are the profits that the company has earned till date, less any transfers to generate reserve, dividends or other
distributions paid to shareholders.

C) General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a specified percentage
in accordance with applicable regulations however, the same is not required to be created under Companies Act, 2013. This reserve can
be utilised only in accordance with the specified requirements of Companies Act, 2013.

D) Capital redemption reserve

The Companies Act, 2013 requires that when a Company purchases its own shares out of free reserves or securities premium account, a
sum equal to the nominal value of the shares so purchased shall be transferred to a capital redemption reserve. The reserve is utilised in
accordance with the provisions of Section 69 of the Companies Act, 2013.

E) Capital reserve

Capital reserve is created out of capital profits and cannot be used for the distribution of profits and dividend.

F) Other Comprehensive income

Other Comprehensive income consists of gain/(loss) of equity instruments carried through FVTOCI.

Assumptions regarding future mortality experience are set in accordance with the published statistics by the Life Insurance
Corporation of India.

The company assesses these assumptions with its projected long-term plans of growth and prevalent industry standards. The discount rate is
based on the government securities yield.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant
factors, such as supply and demand in the employment market.

Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation of the defined benefit
obligation by 50bps, keeping all other actuarial assumptions constant.

Gratuity is applicable only to employees drawing salary in Indian rupees.

NOTE NO. 41.12

The Government of India, with effect from November 21, 2025, notified the Code on Social Security, 2020; the Occupational Safety, Health and
Working Conditions Code, 2020; the Industrial Relations Code, 2020; and the Code on Wages, 2019 (collectively, the
"Labour Codes''), which replace existing central labour legislations. Draft rules under the Labour Codes were released by the Ministry of
Labour and Employment on December 30, 2025 and are yet to be notified. Various State Governments have also notified state-specific
legislations. Based on the Company's assessment, the provisions currently in force do not have a material impact on the financial results of
the Company. The financial impact, if any, of the remaining provisions will be assessed upon notification of the final rules and their
effective dates.

Notes:

1 An ESI demand is being agitated by the Company at High Court, New Delhi.

2 Demand of ? 658.24 Lakhs (PY ? 658.24 Lakhs was being agitated by the Company before Commissioner of Service Tax, Audit 1, Delhi.)
against which the Company has filed an appeal before Customs, Excise and Service Tax Appellate Tribunal (CESTAT).

3 GST Demand Order received in the state of Delhi pertains to FY 2017-18 and FY 2019-20, wherein the GST officer has dropped all the
allegations except few and passed the demand amounting to ? 29.21 lakhs in total against which appeal has been filed on 22-11-2024
and 03-04-2025 and hearing is pending before the GST Authority. Further, we are quite confident that same shall be dropped as well.

GST Demand Order received in the state of Uttar Pradesh pertaining to FY 2021-22 in continuation to ADT 01, wherein the GST officer
passed an order u/s 73 of the CGST Act 2017 amounting to ? 19.99 Lakhs in total dated 31.12.2025 against which appeal has been filed
and the matter is pending before the GST Authority for hearing. Further, we are quite confident that the same shall be dropped as well.

4 Income tax demand of ? 4.47 lakhs agitated by the Company with ITAT and Income tax penalty of ? 4.00 lakhs agitated by the Company
before CIT(A)

5 PF matter is pending before High Court and amount is not quantifiable.

6 The Company had received a notice dated November 21, 2014 from the Collector of Stamp (HQ), Delhi on account of verification of
records pertaining to Stamp duty chargeable on the basis of broker’s Note for the period 2010 to November 21, 2014. Matter is sub-judice
and has been stayed by jurisdictional High Court at New Delhi vide its order dated December 09, 2014 until further order.

The Demerged Company M/s Pulin Comtrade Limited had received a show cause notice of demand dated January 05, 2015 from the
Office of The Collector of Stamps, Delhi, on account of levy of stamp duty on commodity transactions. The matter is sub-judice and has
been stayed by jurisdictional High Court at Delhi vide its order dated January 19, 2015 in the matter of WP/C/516/2015.

7 The National Stock Exchange Limited (“NSE”) has Imposed penalty of ? 9.69 lakhs due to some observations found during inspection
conducted for period from 1st Jan, 2024 to 31st Dec, 2024. The company is in process to submit review request to the exchange for
reversal of the same.

8 The Company has provided bank guarantees aggregating to ? 1,08,554.12 lakhs (Previous year ? 74,598 lakhs) as on March 31 2026 for
the following purpose to:

i) National Stock Exchange- ? 99,990 lakhs (Previous year ? 74,510 lakhs) for meeting margin requirements.

ii) Multi Commodity Exchange- ? 8,510 lakhs (Previous year Nil) for meeting margin requirements.

iii) National Commodity Clearing Limited- Nil (Previous year ? 88 lakhs) for meeting margin requirements.

iv) Delhi Metro Rail Corporation Limited- ? 54.12 lakhs (Previous year Nil) for Interest free security deposit.

These Guarantees are backed 50% by Fixed Deposits except for Delhi Metro Rail Corporation Limited which is backed 100% by
fixed deposit.

9. NSE Clearing Limited(”NCL”) issued a show cause notice dated August 24, 2021(“NCLSCN”), wherein it was alleged that our Company
had failed to comply with various SEBI Circulars and NCL Regulations.On December 7, 2021, the NCL directed our Company to reinstate
the securities wrongfully disposed off and imposed a penalty of ?1 Lakh on our Company. Our Company preferred an appeal before the
Hon’ble Securities Appellate Tribunal (“SAT”) against the NCL SCN bearing Appeal No. 757 of 2021. Similar to our appeal, other brokers
also preferred an appeal to the SAT and SAT clubbed these appeals to be heard together. On December 12, 2023, SAT dismissed all
appeals, thereby confirming the directions in the NCL SCN (“SAT Order”). Our Company preferred an appeal before the Hon’ble Supreme
Court against the SAT order. This appeal was first listed for hearing on July 9, 2024, when it was adjourned, and the next date of hearing
is to be provided. Once again, our appeal has been clubbed with those of other brokers and will be heard together. The value of the
securities as per NCL SCN was ^75 Lakhs. If the Hon’ble Supreme Court dismisses our appeal and directs us to reinstate the securities;
the maximum liability on our Company is expected to be approximately ^218 lakhs as per market price as on balance sheet date.

NOTE NO. 42.02

Other litigations

1 Title of the property located at Office no 205, 2nd Floor, Plot no 4A, Community Centre, 21st Century Plaza, Sector 8, Rohini, New Delhi
having gross carrying value of ? 46.12 Lakhs is under dispute and sealed due to the allegation of acquisition of the said property by the
transferor from the funds of Ganga Yamuna Finvest Pvt. Ltd, which is under liquidation.

2 The company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The company’s
management does not reasonably expect that these legal actions, when ultimately concluded and determined, will have a material and
adverse effect on the company’s results of operations and financial condition.

Pending completion of the legal process the impact of liability, if any, cannot be ascertained at this stage, however, management
believes that, based on legal advice, the outcome of these contingencies will be favourable and that outflow of economic resources
is not probable.

NOTE NO. 43.04

Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or
indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis as at March 31, 2026:

Valuation techniques used to determine fair value

Following valuation technique has been used for fair valuation of the assets:

Level 2: Debt instruments have been fair valued based on interest yield and actual transaction data with unrelated parties.

Level 3: Unquoted equity shares are measured at fair value. The fair value is determined based on the average of market prices quoted

on various unlisted share trading platforms. A standard discount (haircut) of 25% is applied to the derived average to account for
liquidity and marketability constraints.

NOTE NO. 43.05

Financial risk management

Financial risk factors

This note presents the information about the Company’s exposure to financial risks, the Company’s objectives, policies and
processes for measuring and managing risk and the Company’s management of capital.

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

• Credit risk;

• Liquidity risk and

• Market risk

Financial Risk management framework

The Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management framework.
Financial risk management within the Company is governed by policies and guidelines approved by the management. The Board has
established a Risk Management Committee which is responsible for developing and monitoring the Company’s risk management policies.
Company policies and guidelines cover areas such as cash management, investment of excess funds and raising of debt and are managed by
segregated functions within the Company.

The Company’s risk management policies and procedures 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, through its training and management
standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees and stakeholders
understand their roles and obligations.

Different types of risks arising from financial instruments as identified by the Company above have been explained below:

i) Credit risk

The 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 the Company's receivable from clients and exchange and trading members, loan
and advances, investments other than the quoted securities given. Credit risk in respect of quoted securities is expected to have a direct
correlation with the quoted market prices and risk.

The Company is exposed to the risk that third parties that owe money or securities will not perform their obligations. Such third parties
include clients, trading members, exchanges, clearing houses, and other financial intermediaries. These parties may default on their
obligations owed to the Company due to insolvency, lack of liquidity, operational failure, government or other regulatory intervention
or other reasons. In these circumstances, the Company is exposed to risks arising, for example, from holding securities of third parties;
executing securities trades that fail to settle at the required time due to non-delivery by the counterparty trading members, exchanges,
clearing houses or other financial intermediaries. Significant failures by third parties to timely perform their obligations owed could
materially and adversely affect the Company’s financial position, and ability to borrow in the credit markets and ability to operate the
business.

For the risk management purposes, the Company considers and consolidates all elements of credit risk exposures such as individual
obligator default risk, country and sector risk.

Management / mitigation of credit risk

The Company operates in a highly regulated environment which limits its credit risk against exchanges and clearing houses. The Company
collects upfront margins in form of funds and/or securities/commodities from clients and trading members against their trading positions.
The Company monitors positions, margins, mark to market losses and risks on real time basis through risk management systems and policies
specially designed to mitigate the credit risk.

The Company’s Board of Directors has delegated responsibility for the oversight of credit risk to the Risk Management Committee (“the
Committee”). The Committee is responsible for management of the Company’s credit risk, including the following:

i) Formulating credit policies in consultation with business units, covering collateral requirements, credit assessment, risk grading and
reporting, documentary and legal procedures, and compliance with regulatory and statutory requirements.

ii) Establishing the organizational structure for the approval of new customers or counter parties. Authorization limits are allocated to
business unit credit officers or the Arbitrager as appropriate.

iii) Providing advice, guidance and specialist skills to business units through periodic reviews to promote best practices throughout the
Company in the management of credit risk.

iv) The Committee assesses the credit worthiness of client or counterparties, prior to taking exposure on them. Accordingly, limits are
assigned and the monitoring mechanism ensures that exposure to single client does not cross the laid down threshold limits. Collateral
securities are also collected from clients to cover the exposure.

v) Limiting concentrations of exposure to counterparties, geographies and industries (for loans and advances and similar exposures), and
by issuer, credit rating bond, market liquidity and country (for investment securities and trading assets).

vi) Reviewing compliance of business units with agreed exposure limits, including those for selected industries, country risk and product
types. Regular reports on the credit quality of local portfolios are provided to the management, which may require appropriate
corrective action to be taken.

The Board of Directors has also constituted Audit Committee, which is responsible for evaluation of internal financial controls and
risk management systems. The company conducts regular internal audits of various business units to identify scope of improvement/
enhancement of the Company's processes, quality control, fraud prevention and legal compliance. The internal audit reports are reviewed by
audit committee and also placed with the Board.

ii) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with its financial liabilities that are
settled by delivering cash or another financial asset. The Company require sufficient liquidity to meet their obligations. Individual companies
are generally responsible for their own fund management, including the short-term investment of surpluses and the raising of loans to cover
deficits from third parties/companies.

The Company’s primary liquidity requirements are to finance the working capital needs, which are typically towards margin maintenance at
various exchanges. The principal portion of the working capital requirement is utilized by :

a) depositing funds with banks to obtain term deposits and guarantees towards margins payable to the exchanges/clearing houses;

b) payments to stock exchanges/clearing houses towards settlement obligations;

c) payment towards purchase of various trading assets; and

d) meeting expenses incurred for operations.

Management of liquidity risk

Working capital requirements fluctuate on a regular basis depending on the business requirements. The Company's approach to managing
liquidity is to ensure, as far as possible to have sufficient funds to meet its liabilities when due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the Company's reputation.

To fund the working capital requirements, the Company currently relies principally on internal accruals and short term credit facilities from
banks and financial institutions against pledge of derivative assets, term deposits, receivables from clients and investments carried at fair
value through profit and loss. By maintaining sufficient liquid funds and drawing facilities with banks, the Company comfortably meets the
foreseeable liabilities in the present and immediate future, as well as unforeseeable contingencies.

Central treasury receives information from business units regarding the liquidity profile of their financial assets and liabilities and projected
cash flows. Central treasury maintains surplus funds in cash and cash equivalents including term deposits with banks and in investment
securities for which there is an active and liquid market. These assets can be readily sold to meet liquidity requirements. Hence, the Company
believes that the above monetary mechanism adequately addresses the liquidity risk.

iii) Market risk

The Company participates in trading and investing in various asset classes such as equity, debt securities, commodities, foreign currency
and derivatives. These assets classes experience volatility due to economic growth levels, inflation, prices, interest rates, foreign
exchange rates and other macro-economic factors. Any changes in market prices of these asset classes will affect the Company’s income
or the value of its holdings of financial instruments.

The Company segregates its exposure to market risks between price risk, interest rate risk and currency risk.

Management of market risks

The objective of market risk management is to manage and minimize market risk exposures within acceptable parameters, while
optimizing the return on risk. The Company's exposure to market risk is determined by a number of factors, including size, composition
and diversification of positions held and market volatility.

a) Price risk

Trading and investment portfolios include proprietary positions taken in equities, fixed income securities, commodities, foreign
currency and their derivatives mainly for availing arbitrage opportunities. All financial assets and liabilities are accounted on fair

value basis. Management actively monitors its market risk by reviewing the effectiveness of arbitrage and setting outstanding
position limits. The Company manages market risk with central oversight, analysis and formation of risk policy, specific maximum
risk levels to which the individual trader must adhere to and real time continuous monitoring by the senior management.

In respect of the proprietary positions, the Company is exposed to volatility in the price of the underlying securities.

(b) Interest rate risk

Interest rate risk arises from movements in interest rates which could have effects on the Company’s net income or financial
position. Changes in interest rates may cause variations in interest income and expenses resulting from interest-bearing assets
and liabilities. Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate
because of changes in market interest rates.

The Company’s exposure to interest rate risk relates to the loans taken from banks, investment in term deposits placed with
banks, investment in debt securities and investments of its excess funds in liquid instruments. A majority of the financing of the
Company has come from overdraft facility with banks. The business of the Company is exposed to fluctuation in interest rate for
the following activities:

i) Term deposits placed with banks are generally for short term on fixed interest rates;

ii) Facilities availed from banks and other financial institutions generally include short term working capital loans on floating
interest rates;

iii) Interest paid by Company on clients’ funds earmarked as fixed margin are generally for short term on fixed interest rates.
Management of Interest Rate Risk

Interest rate risk is managed principally through monitoring interest rate gaps and by having pre-approved limits for re-pricing
bands. However the Company does not use derivative financial instruments to hedge its interest rate risk.

The Company’s investments in majority of term deposits with banks are for both short and long duration, and therefore do not
expose the Company to significant interest rate risk. Further significant portion of exposure on term deposits with banks is offset
with clients’ funds earmarked as margins on fixed rate basis. The interest rates on the overdraft facility availed are marginally
higher than the interest rates on term deposits with the banks and generally linked to the term deposit rates with the bank.
Accordingly, there is limited interest rate risk exposure on the company.

The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s short-term and long¬
term debt obligations with floating / fixed interest rates, which are included in loans and borrowings. The loans and borrowings
represent loans and borrowing taken both fixed and floating interest rate.

c) Currency risk

Currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign
exchange rates.

The Company’s exposure to foreign currency risk is limited in nature and arises primarily from long-term strategic investments
and inter-company financing, all denominated in United States Dollars (USD). Apart from these, there are no other significant
foreign currency receivables or payables as at the reporting date. The Company does not have any significant foreign currency
denominated financial liabilities.

NOTE NO. 43.06

Capital Management

The Company manages its capital structure and makes necessary adjustments in light of changes in economic conditions and the
requirement of financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to
shareholders, return on capital to shareholders, issue new shares or raise / repay debt.

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to
the equity holders. The primary objective of the Company’s capital management is to maximise the shareholder value and to ensure the
Company's ability to continue as a going concern. There is no non compliance with any covenants of borrowings.

Notes:

1. Related party relationship is as identified by the Company and relied upon by the auditors.

2. Transactions with related parties are on the same terms as applicable to third parties in an arm’s length transaction and in
the ordinary course of business.

3. The related party transactions/ Balances outstanding where amounts are shown as zero represent that the actual
amounts are less than thousands.

NOTE NO. 45

Disclosure under The Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act)

The Company has sent letters to vendors to confirm whether they are covered under Micro, Small and Medium Enterprise Development Act,
2006 (MSMED Act) as well as they have filed required memorandum with prescribed authority. Out of the letters/mails sent to the parties,
based on the confirmation received till the date of finalisation of balance sheet. Based on and to the extent of the information received by the
Company from the suppliers regarding their status under the MSMED Act and relied upon by the auditors, the relevant particulars as at the
year end are furnished below:

NOTE NO. 46

Segment reporting

Ind AS 108 establishes standards for the way that public business enterprises report information about operating segments and related
disclosures about products and services, geographic areas, and major customers. Based on the "management approach" as defined in Ind AS
108, the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on analysis of various
performance indicators by business segments and geographic segments. Accordingly, information has been presented both along industry
classes and geographic segmentation of customers, industry being the primary segment. Secondary segmental reporting is performed on the
basis of the geographical location of customers. The accounting principles used in the preparation of the financial statements are consistently
applied to record revenue and expenditure in individual segments, and are as set out in the note on significant accounting policies.

a. Business Segment

The Company’s primary business comprises of dealing in shares, securities, commodities, derivatives and portfolio management
services either on its own or on behalf of its constituents and other related ancillary services.

Accordingly the primary business segment has been identified as below:

Broking, Distribution & Trading : Comprises of brokerage income earned on secondary market transactions done on behalf of clients,
services rendered as depository participant, clearing services, research support services, proprietary trading in securities, commodities,
derivatives portfolio and fund management services.

b. Geographical Segment

The Company operates in one Geographical Segment namely “within India” and hence no separate information for geographic segment
wise disclosure is required.

No customer individually accounted for more than 10% of the revenues during the year ended March 31, 2026, and
March 31, 2025.

NOTE NO. 47

Other statutory information

i. Title Deeds of all Immovable properties are held in the name of the company

ii. The company has not traded or invested in Crypto Currency or Virtual currency during the year.

iii. During the year the company has not revalued its property, plant and Equipment.

iv. During the year the company has not revalued its intangible assets.

v. During the year no Scheme of Arrangements related to the company has been approved by the Competent Authority in terms of
sections 230 to 237 of the Companies Act, 2013.

vi. Capital work-in-progress comprises of property, plant and equipment that are not ready for their intended use at the end of
reporting period and are carried at cost comprising direct costs, related incidental expenses, other directly attributable costs and
borrowing costs.

There are no intangible assets under devlopment projects where completion is overdue or has exceeded its cost compared to its original plan
as at March 31, 2026 & March 31, 2025.

viii. No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

ix. Disclosure pertaining to quartely statement filed with Banks or Financial Institutions

The quarterly returns or statements of Current assets filed by the Company with the banks or financial institutions are in agreement with
the books of accounts.

x. The company has not been declared as wilful defaulter by any bank or financial institution.

xii. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

xiii. The company is in compliance with the number of layers prescribed under clause (87) of section 2 of the act read with the Companies

(Restriction on number of layers) Rules, 2017.

xiv. Additional regulatory information required under (WB) (xiv) of Division III of Schedule III amendment, disclosure of ratios, is not

applicable to the Company as it is in broking business and not an NBFC registered under Section 45-IA of Reserve Bank of India Act, 1934.

xv. Utilisation of Borrowed funds and share premium:-

A) 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(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
company (Ultimate Beneficiaries) or

ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

B) 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:

i) 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

ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

NOTE NO. 48

The company does not have any transactions which are 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

NOTE NO. 49

Corporate Social Responsibility (CSR) Expenses

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold , needs to spend atleast 2% of its average
net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. A CSR committee has been
formed by the company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which
are specified in Schedule VII of the Companies Act, 2013:

NOTE NO. 50

Key Financial Information

Pursuant to SEBI's Operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August, 2021 to the extent applicable to Non-Convertible
Debentures, information as required under Regulation 52(4) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 for
the year ended 31 March, 2026 is as mentioned below:

1 Debt Equity Ratio = Debt (Borrowings Accrued interest Debt securities)/ Equity (Equity share capital Other Equity)

2 Debt service coverage ratio = Earning available for debt service / (Interest expense (excludes interest costs on leases as per Ind AS 116 )
Current maturity of long term loans)

3 Interest service coverage ratio = Profit before interest (excludes interest costs on leases as per Ind AS 116) and tax / interest expense
(excludes interest costs on lease as per Ind AS 116)

4 Net worth = Equity share capital Other Equity

5 Current Ratio = Current Assets / Current Liabilities

6 Long Term Debt to Working Capital Ratio = Long term debt/ Working capital

7 Bad debts includes provision made on doubtful debts. Accounts receivable includes trade receivable and MTF

8 Current liability ratio = Current liabilities / Total liabilities

9 Total debts to total assets = Total debts (Borrowings Debt Securities)/ Total assets

10 Debtors turnover ratio = Fee and commission income /Average trade receivable

11 Operating margin = Profit before tax / total revenue from operation

12 Net profit margin = Profit after tax / Total revenue from operation

NOTE NO. 51

In respect of Moneywise Finvest Limited, the Subsidiary has incurred losses in the current as well as the preceding financial year, primarily on
account of upfront investments in technology infrastructure, brand building, and client acquisition expenditure. Such costs are characteristic
of the build-out phase of a broking platform and are expected to moderate as the client base scales.

The Management has performed annual impairment assessment of its investments in the Subsidiary in accordance with Ind AS 36. This
assessment is based on significant judgment and estimates, including assumptions related to future business projections, growth rates,
discount rates, and terminal values used in the discounted cash flow models.

Based on the above assessment, although the Subsidiary is currently incurring losses, the Company does not consider this to be a conclusive
indicator of impairment, given the growth trajectory and the inherent economics of a scaling discount broking business. The Management
has concluded that the Subsidiary’s discount broking business has a robust and sustainable business model with strong long-term growth
prospects. Accordingly, no additional allowance on account of impairment is required in addition to the amount of ? 159.89 Lakhs already
provided in the books.

NOTE NO. 52

There were no significant adjusting events that occurred subsequent to the reporting period other than the events disclosed in
the relevant notes.

NOTE NO. 53

The figures for the previous year have been re-grouped to conform with the current year’s presentation. This reclassification does not affect
the overall financial position, results of operations, or cash flows of the company. The changes were made to improve the comparability of
financial information.