2.17 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

a) A provision is recognised when the Company has a present obligation as a result of a past event and it is probable
that an outflow of embodying economic benefits will be required to settle the obligation and there is a reliable
estimate 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. Provisions are determined by discounting the expected
future cash flows (representing the best estimate of the expenditure required to settle the present obligation at
the balance sheet date) at a pre-tax rate that reflects current market assessments of the time value of money and
the risks specific to the liability. Provisions are reviewed at each balance sheet date and adjusted to effect current
management estimates.

b) Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity
or a present obligation that arises from past events but is not recognised because it is not probable that an outflow
of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation
cannot be measured with sufficient reliability. Contingent liabilities are not recognised but are disclosed in the notes.
Contingent liabilities are recognised when there is possible obligation arising from past events.

c) A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
entity. The company does not have any contingent assets in the financial statements. Contingent assets are neither
recognised nor disclosed in the financial statements.

2.18 CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of
a non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from regular
revenue generating, investing and financing activities of the Company are segregated.

2.19 BORROWING COST

Borrowing cost includes interest, amoritsation of ancillary costs incurred in connection with the arrangement of borrowings
and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to
the interest cost. Borrowing costs, if any, directly attributable to the acquisition, construction or production of an asset
that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised, if any. All other
borrowing costs are expensed in the period in which they occur.

2.20 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.

2.21 STANDARDS ISSUED AND EFFECTIVE

Ministry of Corporate Affairs (“MCA”) had notified the Companies (Indian Accounting Standards) Amendment Rules,
2023 dated 31 March, 2023 to amend the following Ind AS which were effective from 01 April, 2023. However, these
amendments does not have an impact on Financial Statements and material accounting policy information.

Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities to disclose their material
accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is
annual periods beginning on or after 01 April, 2023. The Company has evaluated the amendment and the impact of the
amendment is insignificant in the Company’s financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition
of accounting estimates’ and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies
from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on
or after 01 April, 2023. The Company has evaluated the amendment and there is no impact on its financial statements.

Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does
not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of
this amendment is annual periods beginning on or after 01 April, 2023. The Company has evaluated the amendment and
there is no impact on its financial statement.

2.22 STANDARDS NOTIFIED BUT NOT YET EFFECTIVE

There are no standards that are notified and not yet effective as on the date.

2) Terms and rights attached to Shares.

1) The company has only one class of Equity share having a Par Value of Rs.2/- each. Each holder of equity share is entitled
for one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the Board of
Directors is subject to approval by the share holders in the ensuing Annual General Meeting.

2) In the event of liquidation of the company, the holder 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 shareholders.

Note ‘26’ Segment Information

Disclosure under Indian Accounting Standard 108 - ‘Operating Segments’ is not given as, in the opinion of the management, the
entire business activity falls under one segment, viz. primarily engaged as stock and securities broker and providing the financial
services. The Company conducts its business only in one Geographical Segment, viz., India. Also there are no revenue from
transactions with a single external customer or counterparty amounted to 10% or more of the Company’s total revenue in the year
ended 31 March 2025 or 31 March 2024.

Note ‘27’ Employee benefits plan
Defined benefit plans
(A) Gratuity

The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the Gratuity Act, an employee who has completed five
years of service is entitled to specific benefits. The level of benefits provided depends on the member’s length of service, managerial
grade and salary at retirement age.

Discount Rate

Discount rate for this valuation is based on government bonds having similar term to duration of liabilities. Due to lack of a deep and
secondary bond market in India, government bond yields are used to arrive at the discount rate.

Mortality/Disability

If the actual mortality rate in the future turns out to be more or less than expected then it may result in increase / decrease in the
liability.

Employee Turnover/ Withdrawal Rate

If the actual withdrawal rate in the future turns out to be more or less than expected then it may result in increase / decrease in the
liability.

Salary Escalation Rate

More or less than expected increase in the future salary levels may result in increase / decrease in the liability.

The disclosures of employee benefits as defined in the Ind AS 19 ’’Employee Benefits” are given below:

(b) Lease commitments

The Company has obtained office premises under operating lease. These leases are for a period ranging from 11 to 60 months
and are renewable as may be mutually decided. These are generally cancellable lease. Lease payments recognised in the
Statement of Profit and Loss as ‘Rent’ under Note No. 24 is INR 9.53 lacs (P.Y. 11.75 lacs.).

Note ‘31’ Risk management
Liquidity risk

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established Asset and Liability
Management Committee (ALCO) for the management of the Company’s short, medium and long term funding and liquidity
management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve
borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial
assets and liabilities. The Company also has line of Inter corporate deposits available from holding company & fellow subsidiary
companies within its group to meet any short term fund requirements.

Market risk

Market risk is the risk that the fair value of future cash flow of financial instruments will fluctuate due to changes in the market
variables such as interest rates, foreign exchange rates and equity prices. The Company do not have any exposure to foreign
exchange rate and equity price risk.

Interest rate risk

The Company uses a mix of cash and borrowings to manage the liquidity & fund requirements of its day to- day operations. Further,
certain interest bearing liabilities carry variable interest rates

The sensitivity analyses below have been determined based on exposure to financial instruments at the end of the reporting year.
For floating rate liabilities, analysis is prepared assuming the amount of liability outstanding at the end of the reporting year was
outstanding for the whole year. The following table demonstrates the sensitivity to a reasonably possible change in interest rates
on that portion of loans and borrowings affected.With all other variables held constant, the Company’s profit before tax is affected
through the impact on floating rate borrowings, as follows

Credit risk

Credit risk is the risk of financial loss the Company may face due to current/potential inability or unwillingness of a customer or
counterparty to meet financial/ contractual obligations. Credit risk also covers the possibility of losses associated with diminution
in the credit quality of counterparties. Inadequate collateral may also lead to financial losses in the event of default. The company
has adopted a policy of dealing with creditworthy counterparties and obtain sufficient collateral, where appropriate, as a means of
mitigating the risk of financial loss from defaults.

The maximum exposure to credit risk for each class of financial assets is the carrying amount of that class of financial instruments
presented in the financial statements.

Note ‘32’ Capital Management

The Company’s capital management strategy is to effectively determine, raise and deploy capital so as to create value for its
shareholders. The same is done through a mix of either equity and/or preference and/or combination of short term /long term debt
as may be appropriate.

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.

Note ‘33’ Events after reporting date

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

Note ‘34’ Fair value hierarchy

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or
most advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that
price is directly observable or estimated using a valuation technique.

The Company has determined that the carrying values of cash and cash equivalents, bank balances, trade receivables, loans, trade
payables, borrowings other than debt securities and other current liabilities are a reasonable approximation of their fair value and
hence their carrying value are deemed to be fair value.

Fair value hierarchy

The Company determines fair values of its financial instruments according to the following hierarchy:

Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities.

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Reasons for Variance:

(a) Current Ratio- The increase in current ratio from 0.34 to 0.43 is primarily due to a relative increase in liquid current assets and
better liability management.

(b) Debt Equity Ratio- The debt-equity ratio increased from 0.28 to 0.36 primarily due to higher utilisation of bank overdraft facilities
to meet short-term working capital and settlement obligations.

(c) Interest Service Coverage Ratio- The interest coverage ratio declined from 0.28 to -0.09 primarily due to a reduction in operating
profits during the year, while finance costs remained largely consistent.

(d) Return on Capital employed- Return on Capital Employed decreased from 0.03 to -0.08 primarily due to a decline in operating
profitability during the year, while the capital employed remained at similar levels.

(e) Operating Profit Margin (%)- The operating profit margin declined from 4.37% to -8.95% primarily due to a significant increase
in operating expenses and a reduction in revenue during the year. This adverse movement reflects market-driven pressures
and fixed cost absorption challenges amid lower business volumes.

(f) Net Profit Margin (%)- The net profit margin declined from 4.52% to -8.95% due to reduced operating income and increased
expenses, including finance and administrative costs. The decline reflects adverse market conditions impacting overall
profitability during the year.

Note ‘41’ Relationship with Struck off Companies

The Company does not have any relationship with any of the Struck Off Companies whether under section 248 of the Companies
Act or Section 560 of Companies Act, 1956.

Note ‘42’ UNDISCLOSED INCOME

There are no 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 (such as, search or survey or any other relevant provisions of the
Income Tax Act, 1961). Further, there was no unrecorded income and related assets which are required to be recorded in the books
of accounts during the year.

Note ‘43’ NO OF LAYERS OF COMPANIES

The company has not made any default on No of layers of companies through which it has invested.

Note ‘44’

In order to ensure better comparability and alignment with the presentation of current year financial statements, certain figures for the
previous year have been regrouped and/or reclassified wherever necessary. These changes do not have any impact on the overall
financial performance or position as reported previously.

Note ‘45’ Corporate Social Responsibility (CSR)

The provisions of Corporate Social Responsibility (CSR) are not applicable to the company.

Note ‘46’ DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The company has not traded or invested in Crypto Currency or Virtual Currency during the Financial Year.

For Deoki Bijay & Co For and on behalf of Board of Directors

Chartered Accountants
(FRN: 313105E)

CA Sushil Kumar Agrawal Kumar Nair Ramachandran Unnikrishnan

Partner Chairman Managing Director

Membership No.: 059051 DIN.00320541 DIN.00493707

George Mampillil

Director & CFO
DIN.01976386

Place: Kolkata Place: Kochi

Date: April 30, 2025 Date: April 30, 2025