(3.h) Provision, contingent liabilities and contingent assets

Provision: A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be
estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect of the time value of
money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and 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

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The amount recognized as a provision Is the best estimate of the consideration required to settle the present obligation at reporting date, taking
into account the risks and uncertainties surrounding the obligation.

Contingent Liability: Contingent liabilities are possible obligations that arise from past events and whose existence will only be confirmed by the
occurrence or non-occurrence of one or more future events not wholly within the control of the Company Where it is not probable tha an
outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liahil y
unless the probability of outflow of economic benefits is remote. Contingent liabilities are disclosed on the basis of lodgment of the
management/independent experts. These are reviewed at each balance sheet date and are adjusted to reflect the current management estimate.

(3.1) Current and Non Current classification: All assets and Liabilities have been classified as current or non-current tart™

and activities of the Company and their realization in cash and cash equivalent, the Company has determined its operating cycle as 12 months for
the purpose of current and non-current classification of assets and liabilities.

Deferred tax assets/liabilities are classified as non-current

4 Ma|or Estimates and ludgments made in preparing Standalone Financial Statements NOTE 4

The preparation of the Company’s Standalone Financial Statements requires management to make lodgements and estimates that affect th
reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of
These include recognition and measurement of financial instruments, estimates of useful lives and residual value of Property, Plant a
Equipment and Intangible Assets, valuation of inventories, measurement of recoverable amounts of cash-generating units, measuremc
employee benefits, actuarial assumptions, provisions etc.

Uncertainty about these judgments and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or
liabilities affected in future periods. The Company continually evaluates these estimates and assumptions based on the most recently available
infolarionRevisions to accounting estimates are recognized prospectively in the Statement of Profit and Loss in the period in which the
estimates are revised and in any future periods affected.

hi^he'pmcess'ofapplying the company's accounting policies, management has made the following judgements, which have the significant effect
on the amounts recognised in the Standalone Financial Statements:

Materiality

Ind AS requires assessment of materiality by the Company for accounting and disclosure of various transactions in the Standalone Financial
Statements. Accordingly, the Company assesses materiality limits for various items for accounting and disclosures and follows on a consistent
basis. Overall materiality Is also assessed based on various financial parameters such as Gross Block of assets, Net Block of Assets, Total Assets,
Revenue and Profit Before Tax. The materiality limits are reviewed and approved by the Board.

Provisions and contingencies

The assessments undertaken in recognizing provisions and contingencies have been made in accordance with Ind AS 37, ‘Provisions, Contingent
Liabilities and Contingent Assets’. The evaluation of the likelihood of the contingent events has required best judgment by management regarding
the probability of exposure to potential loss. Should circumstances change following unforeseeable developments, this likelihood could alter. In
the similar line, management also on the basis of best judgment and estimate determines the net realizable value of the Inventories to make
necessary provision.

4.b MA|OR ESTIMATES

The key assumptions concerning the future and other key sources of estimation at the reporting date, that have a significant risk of causing a
material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below.

Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that
are beyond the control of the company. Such changes are reflected in the assumptions when they occur.

Useful life of property, plant and equipment and intangible assets

The estimated useful life of property, plant and equipment is based on a number of factors including the effects of obsolescence, demand,
competition and other economic factors (such as the stability of the industry and known technological advances) and the level of maintenance
expenditures required to obtain the expected future cash flows from the asset.

Useful life of the assets other than Plant and machinery are In accordance with Schedule II of the Companies Act, 2013.

The Company reviews at the end of each reporting date the useful life of property, plant and equipment, and are adjusted prospectively, if
appropriate.

Income Taxes

The Company uses estimates and judgements based on the relevant facts, circumstances, present and past experience, rulings, and new
pronouncements while determining the provision for income tax. A deferred tax asset is recognised to the extent that it is probable that future
taxable profit will be available against which the deductible temporary differences and tax losses can be utilised.

(I) Nature and purpose of other reserves

General reserve . . _A„.-,_nn

General reserve is created out of the accumulated profits of the Company as per the provisions of Companies Act,2013.

Retained earnings _a ,.

All the profits made by the Company are transferred to retained earnings from statement of profit and loss.

...............

comprehensive Income and (jaln/floss) booked cm re-measurement of defined benefit plans.

Security Prenilun

Any premiun received on the issue of shares cumulates to this reserve account

Which m « ta ...a repayable on demand

NOTE 32

Capital management

Thu Company's ob)cettves when managing capital are to
• To ensure Company's ability to continue as a going concern, and
. To provide adequate return to shareholders

Thl^ompal^ not boon declared wilful defaulter by .ny bonk or tlnanoal ln,tmition o, or .ny .ovornoicnt authority

(III) Relationship with Mruck off companies _ -__

The Company has no transactions with the companies struck off under Companies An. 2013 or Companies An, 1956.

(tv) Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

|y|) Compliance with approved scheme(s) of arrangements

L Company has not entered into any scheme of arrangement which ha. an accounting Impan on current or previous finanoal year

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‘oHndirecU, lend or invest in other persons or entitle, identified In any manner Whatsoever by or on behalf o, die Funding Parry (Ultima,, Beneficiaries, or
b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

T^r^iS^n^ncnmr sunTmlered or disclosed as income during the current or previous year in the tax assessments under the Inrnme Taa Act 1961. that ha* not I---------- In the hooks of account.

The^Ctunpa^ ha!T^Traded^^vwte^*trypltTturrency ut virtual currency during the rurrent or previous year.

MSI Valuation of Prosrertv, Plant & Equipment. Intangible asset and Investment property

ComTny b*-T^eO Its pcip’ny. plant and e„u,pmen, or Intangible assels or both during the current or previous year.

(*) Title deeds of Immovable properties not held In name of the company

All the immovable property held by the company are In Its own name.

I_Kn Registration of chartcs or satisfaction with Registrar of Companies

Therc^Tcharges or satisfaction which are yet to be registered with the Registrar of Companies beyond the natatory period.

Thu Ind AS financial ,.a,omen* were approved for Issue by .he Board of Directors on 30 May 2034. NOTE 38

Thu Company did no. have any Ion*- term contract Including denva.lve con,race, for which .here were any ma.enal foreseeable losses. _N0T1: ^

There has been no delay.........erring amount, reou.red .o be inferred, .o ,h, fnves.or Education and Protection Fund by .he Company NOTE 40

Previous year's f,eures have been re- arranged or re- grouped wherever considered necessary. NOTE 41

..............._ """"

For and ca behalf of theflwMf of Dh^ciui^mih
PankA m»h TraiU-

For PMMUU PWUSH TRADE AMD INVESTMENT LIMITED

^ ^ director

Amit Grover Sagar Khurana \ w^^kshav /*y7

M,-waging Director Executive Director //jy

DIN 0976S19R DIN: 07691118 /

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