(l) Provisions and contingent liabilities

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of
resources will be required to settle the obligation; and the amount has been reliably estimated. If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities

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. 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 reliable estimate of the amount cannot be
made, is termed as contingent liability.

Contingent Assets

Contingent assets is disclosed where an inflow of economic benefit is probable.

(m) Employee benefits

(i) Short-term obligations

All employee benefits payable wholly within twelve months of rendering the service including performance incentives and compensated
absences are classified as short term employee benefits. The undiscounted amount of short term employee benefits expected to be paid in
exchange for the services rendered by employees are charged off to the Statement of Profit and Loss/ Capital Work-in-Progress, as applicable.
The employee benefits which are not expected to occur within twelve months are classified as long term benefits and are recognised as liability
at the net present value.

(ii) Defined contribution plan

Contributions to defined contribution schemes such as provident fund, Employees State Insurance and Pension Plans are charged off to the
Statement of Profit and Loss/ Capital Work-in-Progress, as applicable, during the year in which the employee renders the related service.

III. Critical estimates and judgements

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management
also need to exercise judgement in applying the company's accounting policies.

This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items which are more likely to be
materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of
these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the
financial statements.

The areas involving critical estimates or judgement are:

Estimation of tax expenses, utilisation of deferred tax assets (including MAT credit) and tax payable

The company is primarily engaged in single primary business segment of exceution of Real Estate & Trading Activities. Information
reported to and evaluated regularly by the Chief Operational Decision Maker (CODM) i.e. Managing Director for the purpose of resource
allocation and assessing performance focuses on the business as a whole. The CODM reviews the company's performance on the analysis
of profit before tax at an overall entity level. Accordingly, there is no other separate reportable segment as defined by Ind AS 108. "
Operating Segments".

(i) Fair Value Hierarchy:-

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 accounting standard.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted price.

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

Level 3: Valuation technique for which the lowest level input that is significant to the fair value measurement is unobservable.

The financial assets and financial liabilities as at reporting date are level 3 financial instruments.

(a) Risk management

The Company aim to manages its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to our shareholders.

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-to-day needs. Company 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. In order to maintain or adjust the capital structure, the Company
may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.

The Company's policy is to maintain a stable and strong capital structure with a focus on total equity so as to mahtain investor, creditors and market confidence and to sustain future development and growth of its
business. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

29 Financial risk management

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

Ý Credit risk ; and

Ý Liquidity risk

The company's financial risk management is an integral part of how to plan and execute its business strategies. The company's financial risk management policy is set by the Board of Directors.
i. Credit Risk

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 receivables from
customers. Credit risk is managed through credit approvals, establishing credit limits and continuously monitorhg the creditworthiness of customers to which the Company grants credit terms in the normal course of

business.

Trade receivables

The Company's exposure to credit risk is determined by the individual characteristics and specifications of each customer. The profile of the customer, including the market risk of the industry has an influence on
credit risk assessment. 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.

28 Previous year figures have been regrouped where necessary.

29 No funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of lunds) by the Company
to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Benefi ciaries.

No funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether
recorded in writing or otherwise, that the Company shall, whether, 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.

30 There is no "undisclosed income" which has been reported by the Company during the assessment.

31 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

For DMKH & Co. For and on behalf of the Board

Chartered Accountants ANTARIKSH INDUSTRIES LIMITED

Firm Registration No.- 116886W

sd/- sd/- sd/- sd/-

Manish Kankani Bhagwanii Narsi Patel Utkarsh Goval Ravi Kothari

Partner Managing Director Director Company Secretary

Membership No.- 158020 DIN: 05019696 DIN: 05292970 PAN: AUXPK6161H

Place : MUMBAI Place : THANE Place : MUMBAI

Date : 30th May 2024 Date : 30th May 2024 Date : 30th May 2024 I