10 PROVISIONS AND CONTINGENCIES

A provision is recognized when the Company has a present obligation as a result of past events and it
is probable that an outflow of resources will be required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their
present value and are determined based on the best estimate required to settle the obligation at the
Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current
best estimates. Contingent liabilities are disclosed in the Notes. Contingent assets are not recognized in
the financial statements but are disclosed.

11 SHARE CAPITAL

Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new
ordinary shares are recognized as a deduction from equity, net of any tax effects.

12 DERECOGNITION OF FINANCIAL INSTRUMENTS

The Company derecognizes a financial asset when the contractual rights to the cash flows from the
financial asset expire or it transfers the financial asset and the transfer qualifies for de recognition
under Ind AS 109. A financial liability (or a part of a financial liability) is derecognized from the
Company's Balance Sheet when the obligation specified in the contract is discharged or cancelled or
expires.

13 IMPAIRMENT OF FINANCIAL ASSETS

The Company recognizes loss allowances using the expected credit loss (ECL) model for the financial
assets which are not fair valued through Statement of Profit and Loss. Loss allowance for trade
receivables with no significant financing component is measured at an amount equal to lifetime ECL.
For all other financial assets, expected credit losses are measured at an amount equal to the 12-month
ECL, unless there has been a significant increase in credit risk from initial recognition in which case
those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required
to adjust the loss allowance at the reporting date to the amount that is required to be recognized is
recognized as an impairment gain or loss in Statement of Profit and Loss.

14 OPERATING CYCLE AND BASIS OF CLASSIFICATION OF ASSETS AND LIABILITIES

Based on the nature of activities of the Company and the normal time between the acquisition of assets
and their realization in cash and cash equivalents, the Company has determined its operating cycle as
12 months for the purpose of classification of its assets and liabilities as current and non-current.

Current versus non-current classification

The Company presents assets and liabilities in the Balance Sheet based on current/ non-current
classification. An asset is treated as current when it is:

- Expected to be realized or intended to be sold or consumed in normal operating cycle;

- Held primarily for the purpose of trading;

- Expected to be realized within twelve months after the reporting period, or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period.

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle;

- It is held primarily for the purpose of trading;

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after
the reporting period.

All other liabilities are classified as non-current.

15 EARNING PER SHARE

Basic earnings per share have been computed by dividing profit attributable to owners of the Company
by the weighted average number of shares outstanding during the year. Diluted earnings per share has
been computed using the weighted average number of shares and dilutive potential shares, except
where the result would be anti-dilutive.

16 DIVIDENDS

Final dividends on shares are recorded as a liability on the date of approval by the shareholders and
interim dividends are recorded as a liability on the date of declaration by the company's Board of
Directors.

17 STATEMENT OF CASH FLOWS

Statement of Cash flows is prepared under Ind AS 7 'Statement of Cash flows' specified under Section
133 of the Act. Cash flows are reported using the indirect method, whereby profit / (loss) before tax
and is adjusted for the effects of transactions of non-cash nature.

18 SECURITIES PREMIUM

Securities Premium is used to record the premium in issue of shares. It can be utilized only for limited
purpose in accordance with the provisions of the Companies Act, 2013.

19 RESERVE FUND IN TERMS OF SECTION 45-I OF THE RESERVE BANK OF INDIA ACT, 1934

Reserve Fund is created as per ther terms of section 45-IC(1) of the Reserve Bank of India Act,1934 as
a statutory reserve.

20 GENERAL RESERVE

Amount set aside from retained profits as a reserve to be utilized for permissible general purpose as
per Law.

In Terms of our Report Attached For & on Behalf of the Board

For C.P. JARIA & CO RAJKOT INVESTMENT PRIVATE LIMITED

Chartered Accountants

Firm No : 104058W

CA PANKAJ JAIN Renu Manendra Singh Shrikrishna Baburam Pandey

Partner Director Director

Membership No : 112020 (DIN: 00860777)) DIN : 07035767

Surat, May 30, 2024

UDIN NO: 24112020BKEYBH8403

Parth Ketanbhai Patel Surabhi Mahnot
CFO Company Secretary