2.18 Provisions and contingencies

Provisions are recognised when the Company has a
present obligation (legal or constructive) as a result of
a past event, it is probable that an outflow of resources
embodying economic benefits will be required to settle
the obligation and a reliable estimate can be made of
the amount of the obligation. Provisions are measured
at the best estimate of the expenditure required to
settle the present obligation at the reporting date, taking
into account the risks and uncertainties surrounding
the obligation.

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. Expected future
operating losses are not provided for.

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 or a
present obligation that arises from past events where it
is either not probable that an outflow of resources will
be required to settle the obligation or a reliable estimate
of the amount cannot be made. Contingent liabilities
do not warrant provisions but are disclosed unless the
possibility of outflow of resources is remote.

Contingent assets are neither recognised nor disclosed
in the financial statements. However, when the realisation
of income is virtually certain, then the related asset is not
a contingent asset and its recognition is appropriate.

2.19 Dividends

The Company recognises a liability to make cash
distributions to its equity holders when the distribution
is authorised and the distribution is no longer at the
discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved by
the shareholders. A corresponding amount is recognised
directly in equity.

2.20 Foreign currency transactions and translations
Initial recognition: Foreign currency transactions are
translated into the functional currency using the exchange
rates prevailing at the dates of the transactions.

Conversion: Monetary assets and liabilities

denominated in foreign currency, which are outstanding
as at the reporting date, are translated at the reporting
date at the closing exchange rate and the resultant
exchange differences are recognised in the Statement of
Profit and Loss. Non-monetary items that are measured
at historical cost in a foreign currency are translated using
the spot exchange rates as at the date of recognition.

2.21 Earnings per share

a. Basic earnings per share:

Basic earnings per share is calculated by dividing
the net profit for the period (excluding other
comprehensive income) attributable to equity
shareholders of the Company by the weighted
average number of equity shares outstanding
during the financial year. Also, adjustments are
made for any bonus elements in respect of bonus
issue or the bonus element in Right issue, if any.

b. Diluted earnings per share:

Diluted earnings per share is computed by dividing
the net profit for the period attributable to equity
shareholders by the weighted average number of
shares outstanding during the period as adjusted
for the effects of all diluted potential equity shares
like ESOPs, share warrants, etc. except where the
results are anti-dilutive.

2.22 Statement of Cash Flows

Cash flow statement is prepared segregating the cash
flows from operating, investing and financing activities.
Cash flow is reported using indirect method as per the
requirements of Ind AS 7 (“Cash flow statements”),
whereby profit for the year is adjusted for the effects
of transactions of a non cash nature, any deferrals or
accruals of past or future operating cash receipts or
payments and item of income or expenses associated
with investing or financing cash flows.

2.23 Write-offs

The Company reduces the gross carrying amount of a
financial asset when the Company has no reasonable
expectations of recovering a financial asset in its entirety
or a portion thereof. This is generally the case when the
Company determines that the client or borrower does
not have assets or sources of income that could generate
sufficient cash flows to repay the amounts subjected
to write-offs. Any subsequent recoveries against such
loans are credited to the statement of profit and loss.

2.24 Exceptional Items

The Company recognises exceptional item when items
of income and expenses within Statement of Profit and
Loss from ordinary activities are of such size, nature or
incidence that their disclosure is relevant to explain the
performance of the enterprise for the period.

2.25 Events after reporting date

Where events occurring after the balance sheet date
provide evidence of conditions that existed at the end of
the reporting period, the impact of such events is adjusted
within the financial statements. Otherwise, events after
the balance sheet date of material size or nature are
only disclosed.

2.26 Recent pronouncements on Indian Accounting
Standards (Ind AS)

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. During the year ended
March 31,2025, MCA has notified Ind AS 117 - Insurance
Contracts and amendments to Ind As 116 - Leases,
relating to sale and lease back transactions, applicable
from April 1, 2024. The Company has assessed that
there is no significant impact on its financial statements.

2.27 Standards issued but not yet effective

The new and amended standards and interpretations
that are issued, but not yet effective, up to the date
of issuance of the standalone financial statements are
disclosed below:

On May 7, 2025, MCA notified the amendments to
Ind AS 21 - Effects of Changes in Foreign Exchange
Rates. These amendments aim to provide clearer
guidance on assessing currency exchangeability and
estimating exchange rates when currencies are not
readily exchangeable. The amendments are effective
for annual periods commencing on or after April 1,
2025. The Company is currently assessing the probable
impact of these amendments on its financial statements.
The Company will adopt this new and amended
standard, when it becomes effective.

B. Fair value of Investment Property

- Fair Value of Leasehold Land is ' 2,124.90 lakhs and such fair value is based on the valuation by registered valuer as
on March 31,2025.

- Sub-leasing of building on lease is the building taken on long-term lease by the company and which have been further
rented out for period of less than 12 months. Fair value was not measured as these are actually the effective portion
of present value of lease rent of building taken on lease.

C. Measurement of fair values

i. Fair value hierarchy

The fair value of the above leasehold land has been determined by an external independent valuer registered under
rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017. The fair value measurement for the property
to be valued is residential plot which is the highest and best use, been categorised as a level 2 fair value based on the
inputs to the valuation technique. These inputs include comparable sale instances for Market Approach.

ii. Valuation technique

For the purpose of valuation, the primary valuation methodology used is Market Approach, as the best evidence of
fair value is current prices in an active market for similar properties. The market rate for sale/purchase of similar assets
is representative of fair values. The property to be valued is at a location where active market is available for similar
kind of properties.

(f) Issue of Shares under Rights cum Warrant Issue:

During the financial year 2022-23, the Company came up with a Rights Issue of 6,38,131 equity shares (1 right share
for every 50 shares held) of face value of ' 10/- each on right basis (Rights Equity Shares) with 1,08,48,227 detachable
warrants (17 warrants for every 1 right equity shares allotted). In accordance with the terms of issue, ' 4,466.92 lakhs i.e
100% of the Issue Price of ' 700/- (including premium of '690/-) per Rights equity share along with '18,984.40 lakhs (i.e.
25% of the Issue Price per Share warrant), was received and allotment was made to eligible allottees.The warrant holders
were allowed to exercise their option to convert detachable warrants into equity shares till September 23, 2024, upon
payment of ' 525/- per warrant i.e., the remaining 75% of the issue price. The shares were issued to the warrantholders
from whom warrant money was received in full in the stipulated period. However, warrant money towards 11,083 warrant
was not received in full and were lapsed and the application money already received were forfeited.

(h) No shares were bought back and also, no shares were allotted as fully paid up by way of bonus issue during the period
of 5 years immediately preceding the reporting date. However, during the financial year 2019-20, 74,82,000 equity shares
of ' 10/- each were issued without payment being received in cash consequent to and as part of the merger of Total
Securities Limited with the Company. Accordingly, the consideration for these shares was not received in cash.

(i) The Board of Directors of the Company, at their meeting held on May 09, 2024, approved the stock split/subdivision of
each equity share of the Company, having a face value of ' 10/- each, into 5 (Five) equity shares of the face value of ' 2/-
each. The same was subsequently approved by the shareholders at their Extraordinary General Meeting held on June 05,
2024 and June 27, 2024 was fixed as the record date for the split of equity shares.

Hence, in these financial statements, the face value of equity shares, the number of equity shares and the number of
Employee Stock option plans (ESOP's), as existing on the said record date, are reported after considering the sub-division
as mentioned above.

Nature & Purpose of Reserves:

Capital Reserve: Capital reserve is created by capital profits of the company which is not kept for distribution to the shareholders
in the form of dividend. Capital reserve represents reserves created pursuant to the business combination. It is the difference
between value of net assets transferred to the Company in the course of business combinations and the consideration paid for
such combinations. Further, it also includes the amount on forfeiture of application money received on share warrants lapsed.

Securities Premium: It represents the surplus of proceeds received over the face value of shares, at the time of issue of
shares. It can be utilised only for limited purposes such as issuance of bonus shares, writing off the preliminary expenses,
paying premium on redemption of debentures and buyback of company's own shares in accordance with the provisions of the
Companies Act, 2013.

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. Consequent to introduction of Companies Act
2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn.
However, the amount previously transferred to the general reserve can be utilised only in accordance with the specific
requirements of Companies Act, 2013.

Retained earnings: These are the profits that the Company has earned till date, less any transfers to general reserve, dividends
or other distributions paid to Shareholders.

Equity-settled share options outstanding reserve: This reserve is created by debiting the statement of profit and loss
account with value of share options granted. Once shares are issued by the Company, the amount in this reserve will be
transferred to share capital, securities premium or retained earnings.

Other comprehensive income: This represents the cumulative gains and losses arising on the fair valuation of investments
measured at fair value through other comprehensive income (FVOCI) and present value of Defined benefit obligation.

(a) Guarantees given:-

1) The Company has given Corporate Guarantee of ' 19,800 lakhs as on March 31,2025 [Previous Year ' 19,800 lakhs]
to the banks on behalf of its wholly owned subsidiary “Share India Algoplus Private Limited” as security in respect of
financial assistance / facility taken by subsidiary.

2) The Company has provided bank guarantees aggregating to '1,88,629.00 lakhs as on March 31,2025 [Previous Year
' 1,52,775.00 lakhs] for the following purposes to:

(i) NSE Clearing Limited - ' 1,46,948.25 lakhs [previous year ' 1,20,086.25 lakhs] for meeting Margin requirements.

(ii) NSE Clearing Limited - ' 100.00 lakhs [previous year ' 100.00 lakhs] as Security Deposit [BMC].

(iii) Bombay Stock Exchange - ' 48.75 lakhs [previous year ' 48.75 lakhs] as Security Deposit [BMC].

(iv) Indian Clearing Corporation Limited - ' 80.00 lakhs [previous year ' 80.00 lakhs] for meeting Margin requirements.

(v) MCX Clearing Corporation Limited - ' 62.50 lakhs [previous year ' 62.50 lakhs] as Security Deposit [BMC].

(vi) MCX Clearing Corporation Limited - '40,129.00 lakhs [previous year '31,967.00 lakhs] for meeting
Margin requirement.

(vii) National Commodity & Derivatives Exchange - '62.50 lakhs [previous year '62.50 lakhs] as Security
Deposits [BMC].

(viii) National Commodity Clearing Limited - '1,198.00 lakhs [previous year '368.00 lakhs] for meeting
Margin requirement.

The Company has pledged fixed deposits with banks aggregating of '92,141.81 lakhs [previous year: ' 74,138,55 lakhs] for
obtaining above bank guarantee.

The property pledged with banks aggregating to '3,517.01 lakhs [previous year:' 2,413.45 lakhs] for obtaining above bank guarantee. *

* [The above property pledged for obtaining bank guarantee are the property owned by company and its promoters, directors, and
it represents the market value of property (after haircut)].

(b) Demand in respect of income tax matters # :-

(i) The Company has outstanding demand of ' 9.14 lakhs related to Assessment Year 2008-09 and ' 2.68 lakhs is
related to Assessment Year 2015-16 in respect of Income Tax matters during the current year and previous year.

(ii) During the current year, demand of ' 39.55 lakhs has been raised in respect of income tax matters related to
Assessment Year 2022-23 against which the company is in the process of filing appeal with CIT (Appeals) within
statutory time limit.

#The Company is contesting these demands and the management believe that its position will likely to be upheld in the
appellate process/rectifications etc. and accordingly no provision has been accrued in the financial statements for these
tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse
effect on the Company’s financial position and results of operations.

Based on favourable decisions in similar cases, the Company does not expect any liability against these matters

in accordance with principles of Ind AS 12 ‘income taxes’ read with Ind AS 37 Provisions, Contingent Liabilities and
Contingent Assets’ and hence no provision has been considered in the books of accounts for such instances.

The above amounts contain interest and penalty where included in the order issued by the department to the Company.

Apart from above, a demand of ' 78.41 lakhs in respect of income tax matters related to Assessment Year 2013-14
outstanding in previous year have been ruled in favour of company by CIT(appeals) and demand is nullified during
the current year.

Note 44 Segment reporting

As per Ind AS 108 para 4, Segment reporting has been disclosed in Consolidated financial statement. Hence, no separate
disclosure has been given in standalone financial statements of the Company.

Note 45 The Compary uses an accounting software for maintaining its books of account along with process of taking backups
on regular basis (except on holidays/weekends when there are no transactions) and which has a feature of recording audit
trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting
software except that the audit trail feature is not enabled at database level in respect of certain accounting software to log any
direct data changes.

Further, there is no instance of audit trail feature being tampered with in respect of the accounting software where such feature
is enabled. Additionally, the audit trail of prior years has been preserved by the Company as per the statutory requirements for
record retention to the extent it was enabled and recorded in respective years.

Note 46 Leases

(1) Company as a Lessee:

The Company has taken various office premises on lease for a period ranging from 11 months to 120 months with an
option to renew the lease on mutually agreeable terms. Leases for which the lease term is less than 12 months have been
accounted as short term leases. Please refer Note 255 regarding accounting policy on leases.

Interest Rate Risk:

The plan exposes the Company to the risk of falling interest rates. A fall in interest rates will result in an increase in the
ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability.

Liquidity Risk:

This is the risk that the Company may not be able to meet the short-term gratuity payouts. This may arise due to non
availability of enough cash/cash equivalent to meet the liabilities or holding of liquid assets not being sold in time.

Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants
in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to
determine the present value of obligation will have bearing on the plan's liability.

Demographic Risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to
the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,1972 (as amended from time
to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on
gratuity of '20,00,000).

- Discount rate is the rate which is used to discount future benefit cash flows to determine the present value of
the defined benefit obligation at the valuation date. The rate is based on the prevailing market yields on Indian
Government bonds at the valuation date for the expected term of the obligation.

- The salary growth rate indicated above is the Company's best estimate of an increase in salary of the employees
in future years, determined considering the general trend in inflation, seniority, promotions, past experience and
other relevant factors such as demand and supply in employment market, etc.

- Mortality rate is a measure of the number of deaths (in general or due to specific cause) in a population, scaled
to the size of that population, per unit of time.

- Attrition rate indicated above represents the Company's best estimate of employee turnover in future (other
than on account of retirement, death or disablement) determined considering various factors such as nature of
business, retention policy, industry factors, past experience, etc.

Note 48 Employees Stock Option Plan

The Company has in place following employee stock option plans, as approved by shareholders of the Company in compliance

with Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) regulations, 2021:

a) Share India Employees Stock Option Scheme, 2022 [ESOS 2022]: In accordance with this scheme, 30,00,000 share
options were approved for issue to the eligible employees, at an exercise price of ' 2 per share. As per the scheme, the
Company is obliged to settle them by issue of equal number of equity shares (having face value of '2/-). Out of the above
approved options, so far 19,14,965 options have been granted to the eligible employees with vesting period of 1 year and
exercise period of maximum 6 months.

b) Share India Employees Stock Option Scheme - II [ESOS-II]: In accordance with this scheme, 10,00,000 share
options were approved for issue to the eligible employees, at an exercise price as may be determined by Nomination &
Remuneration committee. As per the scheme, the Company is obliged to settle them by issue of equal number of equity
shares (having face value of '2/-). Out of the above approved options, so far 3,77,000 options have been granted to the
eligible employees with vesting period of 3 years and exercise period of maximum 1 year.

Note 50 Fund Utilisation of the amounts raised through Public

Rights Issue Proceeds and Detachable Warrants:

During the financial year 2022-23, the Company came up with a rights issue of 6,38,131 equity shares (1 right share for every 50
equity shares held) of face value of '10/- each (“Rights equity shares”) along with 1,08,48,227 detachable warrants (17 warrants
for every 1 right equity shares allotted). The rights equity shares as well as the detachable warrants were issued at a price of
' 700/- each (including premium of '690/- each). The total issue size was ' 80,404.51 lakhs which consists of Right shares of
' 4,466.92 lakhs and Detachable warrant of ' 75,937.59 lakhs.

Out of above issue size, ' 23,451.31 lakhs were raised/collected by the Company consisting of 100% of right proceeds
and 25% of warrant issue proceeds and the allotment was made to eligible allottees. And as on March 31,2023, remaining
' 56,953.19 lakhs [representing 75% of warrant issue proceeds] was due to be raised/collected from the warrantholders as and
when they exercise their right to convert the warrants into equity shares.

For amount yet to be raised, the warrant holders were allowed to exercise their option to convert detachable warrants into equity
shares till September 23, 2024 (i.e. 18 months from the date of allotment of warrants), upon payment of ' 525/- per warrant i.e.,
the remaining 75% of the issue price of the warrants.

The shares were issued to the warrantholders from whom warrant money was received in full in the stipulated period.
However, warrant money towards 11,083 warrant was not received in full and were lapsed and the application money already
received were forfeited.

• The Company has measured its equity investments in subsidiary companies, at Cost as per Ind AS 27 “Separate Financial Statements”.
Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, equity securities
and mutual funds) is based on quoted market prices at the end of the reporting period. These instruments are included in
level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If
all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(ii) . Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include :

• Quoted equity investments - Quoted closing price on stock exchange

• Mutual fund - Net asset value of the scheme

• Unquoted equity investments - Fair value report/statement of fund received.

(iii) . Financial instruments not measured at fair value

Financial assets not measured at fair value includes cash and cash equivalents (including other bank balances), trade
receivables, loans, deposits and other receivables. These are financial assets whose carrying amounts approximate fair
value largely due to their short term nature.

Additionally, financial liabilities such as trade payables, borrowings, lease liabilities and other payables are not measured at
fair value, whose carrying amounts approximate fair value largely due to the nature of these liabilities.

Note 57 Financial risk management

Company has operations in India. Whilst risk is inherent in the Company's activities, it is managed through an integrated risk
management framework, including ongoing identification, measurement and monitoring, subject to risk limits and other controls.
This process of risk management is critical to the Company's continuing profitability and each individual within the Company is
accountable for the risk exposures relating to his or her responsibilities. The Company is exposed to credit risk, liquidity risk and
market risk. It is also subject to various operating and business risks.

A. Market Risk:

Market risk is the risk that the fair value or future Cash flows of a financial instrument will fluctuate because of changes in
market prices. The objective of market risk management is to manage and control market risk exposures within acceptable
parameters, while optimizing the return.

Foreign 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 exposure to currency risk arises on account of its proprietary positions and
loan to/investment in Subsidiaries operating overseas or in IFSC unit. However, company at all times hedges the risk
arising out of foreign currency exposure. Company's exposure to foreign currency risk at the end of reporting period
is shown in Note 53.

(ii) Interest rate risk

The Company is exposed to Interest risk if the fair value or future cash flows of its financial instruments will fluctuate
as a result of changes in market interest rates. Changes in interest rates may cause variations in interest income and
expenses resulting from interest-bearing assets and liabilities.

The Company's interest rate risk arises from interest bearing deposits with bank. Such instruments exposes the
Company to fair value interest rate risk. Management believes that the interest rate risk attached to this financial
assets are not significant due to the nature of these financial assets.

The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's borrowings.
The interest rates on the borrowing facilities 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. The borrowings are taken both at fixed and
floating interest rates. The Company constantly monitors the credit markets and rebalances its financing strategies to
achieve an optimal maturity profile and financing cost.

The Company is exposed to market price risk, which arises from FVPL and FVOCI investments and Securities held for
trade. The management monitors the proportion of these investments in its investment and holding portfolio based
on market indices. Material investments and securities within the portfolio are managed on an individual basis and
all buy and sell decisions are approved by the appropriate authority. The Company manages market risk with central
oversight, complying with risk policy as formulated and continuous monitoring by the senior management to mitigate
such risks. The objective of market risk management is to maintain an acceptable level of market risk exposure while
aiming to maximise returns.

B. Liquidity Risk:

Liquidity risk is the risk that the entity will encounter difficulty in meeting the obligations associated with its financial liabilities
that are settled by delivering cash or another financial asset. The entity's approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the entity's reputation.

Prudent liquidity risk management requires sufficient cash and marketable securities and availability of funds through
adequate committed credit facilities to meet obligations when due and to close out market positions.

The Company has a view of maintaining liquidity with minimal risks while making investments. The Company invests its
surplus funds in short term liquid assets in bank deposits and liquid mutual funds. The Company monitors its cash and
bank balances periodically in view of its short term obligations associated with its financial liabilities.

C. Credit Risk:

Credit risk is the risk that the Company will incurr a loss because its customers or counterparties fail to discharge their
contractual obligation. The Company manages and controls credit risk by setting limits on the amount of risk it is willing to
accept for individual counterparties, and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of financial
instruments presented in the financial statements. The Company’s major classes of financial assets are cash and cash
equivalents, loans, investments, securities for trade, term deposits, trade receivables and security deposits.

Cash and cash equivalents and term deposits with banks are considered to have negligible risk or nil risk, as they are
maintained with high rated banks / financial institutions as approved by the Board of directors. Security deposits are kept
with stock exchanges for meeting minimum base capital requirements. These deposits do not have any credit risk.

Securities for trade and Investments comprise of Quoted Equity instruments, Bonds, Mutual Funds, Exchange Traded
Funds (ETF's) etc. which are market tradeable. Investments are made only with approved counterparties with high credit
ratings except in case of strategic investments in few entities.

The management has established accounts receivable policy under which customer accounts are regularly monitored.
The Company has a dedicated risk management team, which monitors the positions, exposures and margins on a
continuous basis.

Expected credit loss (ECL)

A.Trade receivables

The Company applies the Ind AS 109 simplified approach to measure expected credit losses which uses a lifetime
expected loss allowance (ECL) for all trade receivables.

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it
recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

The Company has applied the simplified approach for calculating expected credit losses (ECL) on trade receivables
and recognises lifetime ECL for all trade receivables that do not involve a significant financing component. At each
reporting date, the Company evaluates the need for impairment. In line with industry practices and considering the
business environment in which it operates, management considers a trade receivable to be in default if it is overdue
by more than 365 days. The ageing of trade receivables and the corresponding expected credit losses recognised are
presented below.

B. Margin trading facilities

In accordance with Ind AS 109, the Company applies expected credit loss model (ECL) for measurement and
recognition of impairment loss. The expected credit loss is a product of exposure at default (EAD), probability of
default (PD) and loss given default (LGD). The financial assets have been segmented into three stages based on the
risk profiles, primarily based on past due.

Company has large number of customer base with shared credit risk characteristics. Margin trading facilities are
secured by collaterals. As per policy of the Company, margin trading facilities to the extent covered by collateral and
servicing interest on a regular basis is not considered as due/default. Accounts becoming due/default are fully written
off as bad debt against respective receivables and the amount of loss is recognised in the Statement of Profit and
Loss. Subsequent recoveries of amounts previously written off are credited to the Statement of Profit and Loss as
bad debts recovered.

As per Ind AS 109, the maximum period to consider when measuring expected credit losses is the maximum
contractual period (including extension options) over which the entity is exposed to credit risk and not a longer period,
even if that longer period is consistent with business practice. Therefore, the maximum period to consider when
measuring expected credit losses for these trading facilities is the maximum contractual period.

The Company does not have any margin trading facilities which may fall under stage 2 or stage 3.

ECL is computed as follow assuming that these receivables are fully recalled by the Company at each reporting period.
EAD is considered as receivable including interest (net of write off).

PD is considered at 100% for all receivables being the likelihood that the borrower would not be able to repay in the
very short payment period.

LGD is determined based on fair value of collateral held as at the reporting period. Unsecured portion is
considered as LGD.

Note 58 Capital Management

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.

The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment
plans. The funding requirements are met through equity, operating cash flows generated and short term debt. The Company
manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the
financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders,
return capital to shareholders or issue new shares. In addition to above the Company is required to maintain a minimum networth
as prescribed from time to time by the Securities and Exchange Board of India (Stock brokers and sub-brokers) Regulations,
1992. The management ensures that this is complied at all times.

Note 61 Other Regulatory requirements

a. Ratios

Additional regulatory information requires disclosure of ratios under (WB) (xiv) of Division III of amended Schedule III of
the Companies Act, 2013.The disclosure of ratios is not applicable to the Company as it is in broking business and the
Company has not conducted any Non-Banking Financial activities or any Housing Finance activities and is not required
to obtain Certificate of Registration (CoR) from the Reserve Bank of India (RBI) as per section 45-IA of Reserve Bank of
India Act, 1934.

b. Title deeds of immovable property not held in the name of the company

The Company holds title deeds of all the immovable property (other than properties where the company is the lessee and
the lease agreements are duly executed in favour of the lessee) in the name of the company.

c. Fair valuation of Investment property, and Revaluation of Property, plant & equipment, and Intangible assets

The fair value of investment property disclosed in Note 13(a) is based on the valuation by a registered valuer as defined
under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.

Further, the company has not revalued its Property, plant & equipment, and Intangibles assets during the year.

d. Relationship with struck off companies

The company did not have any transaction with companies struck off under section 248 of the Companies Act, 2013,
during the current year 2024-25 and previous year 2023-24, as such no declaration is required to be furnished.

e. Registration of charge/satisfaction

There are no charges or satisfaction, which is yet to be registered as on March 31,2025 and March 31,2024 with the
Registrar of Companies beyond the statutory period.

f. Details of Benami Property

No proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules there under.

g. Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender during the current
year and previous year.

h. Compliance with number of layer of Companies

The company has complied with requirements in respect of the number of layers prescribed under clause (87) section 2 of
the Act read with Companies (Restriction on number of layers) Rules, 2017.

i. Crypto currency or Virtual currency

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

j. Compliance with approved scheme (s) of arrangements

During the financial year ended March 31, 2024, the Board of Directors of the Company approved the scheme of
amalgamation of Silverleaf Capital Services Private Limited with Share India Securities Limited (Company) under Section 230
to 232 of the Companies Act, 2013. The Scheme of Amalgamation shall be subject to necessary statutory and regulatory
approvals including the approval of the Stock Exchanges, Securities and Exchange Board of India, the National Company
Law Tribunal, the Registrar, the Official Liquidator (as may be applicable) and/or such other competent authorities, as may
be required under applicable laws.

As on the balance sheet date, such approval of scheme from regulator's is still under process.

k. Undisclosed Income

There were no previously unrecorded income that have been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961.

l. Utilisation of borrowed fund & Share Premium

(i) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities
(Intermediaries) with the understanding that the intermediary shall 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, provided
any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(ii) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall 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, provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

m. In respect of Borrowings secured against current assets:

Quarterly returns or statements of current assets filed by the company with banks or financial institutions are in agreement
with the books of accounts.

n. Loans/Advance granted to Directors, Promoters, or Key Managerial Personnel

The company has not granted any loans or advances in the nature of loans to the Directors, Promotors, Key Managerial
Personnel and their relatives. However, the company granted loans to its related parties and reported such amount in Note
55 of these financial statements.

o. Disclosures under Section 186 of the Companies Act, 2013

The Company has complied with the provisions of Sections 186 of the Companies Act, 2013, in respect of loans granted,
investments made and guarantees given in the current year or previous year.

Note 63 Events after the reporting date

There were no significant events after the end of the reporting period which require any adjustment or disclosure in the financial
statements. In terms of Ind AS 10 “Events occuring after reporting period”, the company has not recognised Final dividend
(recommended by the board) as a liability at the end of the reporting period.

Note 64 Note on Code on Social Security, 2020

The Code on Social Security 2020 (‘the Code') relating to employee benefits, during the employment and post-employment,
has received Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the
Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date
from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued.

The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the year in which,
the Code becomes effective and the related rules to determine the financial impact are published.

Note 65 Previous year figures have been regrouped/ reclassified and rearranged whenever necessary to correspond with the
current year's classification/ disclosure. 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.

As per our report of even date

For M S K A & Associates For and on behalf of the Board of Directors of

Chartered Accountants Share India Securities Limited

Firm Registration No. 105047W

Sriparna De Parveen Gupta Sachin Gupta

Partner Chairman & Managing Director CEO & Whole-time Director

M.No. 060978 DIN: 00013926 DIN: 00006070

Vijay Kumar Rana Vikas Aggarwal

Place : Noida Chief Financial Officer Company Secretary & Compliance Officer

Dated : May 23, 2025 M.No. FCS 5512